Aditya Birla Sun Life Manufacturing Equity Fund
Direct · GrowthAI Summary
Aditya Birla Sun Life Manufacturing Equity Fund has delivered 1Y XIRR of 17.88% and 3Y XIRR of 17.52%, beating the category average of 10.56% and 16.17% respectively. However, its longer-term XIRR trails the category — 15.91% versus 17.43% over 5Y and 15.17% versus 16.43% over 10Y. Against the NIFTY 50, the fund shows strong alpha of 19.91%, 13.45%, and 8.64% over 1Y, 3Y, and 5Y, though alpha narrows to just 3.29% over 10Y.
The fund has a maximum drawdown of -0.39% with a prolonged 805-day recovery period, indicating a deep and extended trough despite limited labeled drawdown events of >10% (6 events). Downside capture is consistently well below 100% (72.95% over 1Y, 75.94% over 7Y, 80.92% over 15Y), showing effective loss protection in weak markets. Calmar ratios of 0.3892 (1Y) and 0.3453 (5Y) suggest moderate risk-adjusted efficiency relative to drawdown.
The portfolio holds 63 stocks with a diversified top 10 capped at 3.94% (Cummins India) and 3.86% (Reliance Industries), limiting single-stock concentration. Sector exposure is led by Industrial Products (14.7%), Auto Components (13.2%), and Automobiles (10.0%), reflecting a manufacturing and cyclical orientation. Notable positions in Pharma (8.6%) and Consumer Durables (8.0%) provide some diversification away from pure industrials.
The fund leads its Sectoral/Thematic category on short-to-medium-term SIP XIRR (17.52% 3Y vs 16.17% category average) but underperforms on 5Y and 10Y horizons (15.91% vs 17.43% and 15.17% vs 16.43%). Calendar year returns are uneven, ranging from -11.43% in 2018 to 41.27% in 2017, indicating pronounced cyclicality typical of the theme. Consistency improves over longer windows, with the fund beating the NIFTY 50 CAGR over every measured period.
This fund suits investors with high risk tolerance and a 7-10 year horizon, given its sectoral/thematic structure and exposure to cyclical manufacturing businesses. It works best as a satellite allocation (typically 10-20% of an equity portfolio) alongside diversified core funds. Investors should be prepared for extended drawdown periods, as the current max drawdown recovery took 254 days following an 805-day trough.
- Strong downside capture across all periods (72.95% at 1Y, 80.92% at 15Y) limits losses in falling markets
- Beats the category average SIP XIRR at 1Y (17.88% vs 10.56%) and 3Y (17.52% vs 16.17%)
- Well-diversified 63-stock portfolio with top holding at only 3.94% of NAV
- Underperforms category average SIP XIRR over 5Y (15.91% vs 17.43%) and 10Y (15.17% vs 16.43%)
- Cyclical sector concentration (Industrial Products 14.7%, Auto Components 13.2%, Automobiles 10.0%) exposes investors to manufacturing downturns, with calendar returns swinging from -11.43% in 2018 to 41.27% in 2017
Generated on 02-11-2026, 3:33 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.75 L | 16.4% | -47.9% | 70.8% |
| 3 Years | ₹36.00 L | ₹44.96 L | 14.4% | -21.5% | 36.8% |
| 5 Years | ₹60.00 L | ₹87.88 L | 14.8% | -8.8% | 28.7% |
| 7 Years | ₹84.00 L | ₹1.49 Cr | 15.5% | 8.0% | 22.7% |
| 10 Years | ₹1.20 Cr | ₹2.63 Cr | 15.2% | 12.5% | 17.4% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 16.4% | 14.3% | 10.3% | +2.1% |
| 3 Years | 14.4% | 11.0% | 16.1% | +3.3% |
| 5 Years | 14.8% | 10.4% | 17.2% | +4.5% |
| 7 Years | 15.5% | 10.6% | 16.6% | +5.0% |
| 10 Years | 15.2% | 11.4% | 16.4% | +3.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.3% | 13.5% | -26.7% | 82.2% | 0.45 | 1.19 | 74% | — | — |
| 3 Years | 13.9% | 15.6% | -8.1% | 26.6% | 1.07 | 3.11 | 95% | — | — |
| 5 Years | 13.5% | 13.7% | -0.6% | 26.9% | 1.26 | 9.03 | 100% | — | — |
| 10 Years | 13.8% | 14.0% | 11.0% | 15.8% | 7.20 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +19.85 | 0.88 | 95.3% | 72.5% | 17.3% | -3.8% |
| 3 Years | +12.52 | 0.96 | 102.4% | 87.3% | 20.6% | 8.1% |
| 5 Years | +8.18 | 0.90 | 94.0% | 83.4% | 14.5% | 6.3% |
| 7 Years | +7.83 | 0.79 | 84.8% | 75.9% | 17.8% | 10.9% |
| 10 Years | +3.45 | 0.82 | 85.9% | 81.2% | 13.8% | 11.2% |
| 12 Years | +4.32 | 0.82 | 86.8% | 80.9% | 12.9% | 9.0% |
| 15 Years | +3.15 | 0.82 | 86.8% | 80.9% | 10.2% | 7.1% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Sansera Engineering Ltd. | 3.27% |
| 2 | Reliance Industries Ltd. | 3.14% |
| 3 | Cummins India Ltd. | 2.94% |
| 4 | Mahindra & Mahindra Ltd. | 2.44% |
| 5 | Shilpa Medicare Ltd. | 2.38% |
| 6 | Sona Blw Precision Forgings Ltd. | 2.26% |
| 7 | Hindalco Industries Ltd. | 2.22% |
| 8 | TD Power Systems Ltd. | 2.22% |
| 9 | Cyient DLM Ltd. | 2.12% |
| 10 | Happy Forgings Ltd. | 2.12% |