Aditya Birla Sun Life Multi Cap Fund
Direct · GrowthAI Summary
Aditya Birla Sun Life Multi Cap Fund has delivered strong alpha over the NIFTY 50 across all long-term windows, with a 3Y fund CAGR of 13.3% versus 4.78% for the benchmark and a 1Y alpha of 15.59%. On the primary SIP XIRR metric, the fund's 3Y XIRR of 17.49% beats the category average of 14.98%, though its 5Y XIRR of 13.67% trails the category average of 18.62%. The 1Y XIRR of 11.37% is broadly in line with the category's 11.47%, indicating recent performance is average while medium-term SIP returns stand out.
The fund shows a consistently favorable capture profile, with downside capture between 81.64% and 86.86% across periods while upside capture remains near or above 100% in the 1Y window (103.5%), supporting its positive alpha. Beta has stayed below 1 (0.91 to 1.00), suggesting slightly lower sensitivity to market moves. The Calmar ratio peaks at 0.9011 over 3Y, indicating reasonable risk-adjusted returns, though the 5Y Calmar of 0.7121 is weaker and the 475-day recovery from max drawdown highlights that patience is required after sharp corrections.
The portfolio holds 87 stocks with a well-spread top 10, where the largest position is ICICI Bank at just 3.63% of NAV, reflecting low single-stock concentration. Banks dominate at 15.5% of the portfolio, followed by Retailing (7.5%), Auto Components (7.3%), and Electrical Equipment (6.7%), giving meaningful but not excessive financial-sector tilt. The presence of names like Indus Towers, Eternal, and TD Power Systems shows diversification beyond traditional large-cap financials.
The fund outperforms the category on 3Y SIP XIRR (17.49% vs 14.98%) but underperforms on 5Y (13.67% vs 18.62%), suggesting its edge is concentrated in the recent medium-term period rather than sustained over longer horizons. Calendar year returns show volatility in consistency, with strong years like 2023 (29.33%) and 2024 (23.59%) alongside weak years like 2022 (0.39%) and 2025 (2.82%). Long-term alpha versus NIFTY 50 persists even at 15Y (2.16% annualized), which is a positive consistency signal.
This fund suits investors seeking diversified multi-cap exposure with a track record of benchmark outperformance and moderate downside capture. A time horizon of at least 5 to 7 years is appropriate, given the 475-day drawdown recovery period and the mixed 5Y category-relative performance. Investors should have moderate-to-high risk tolerance, as calendar-year returns have ranged from 0.39% to 29.33%.
- Consistent positive alpha over NIFTY 50 across all periods from 1Y to 15Y, including 8.46% annualized alpha over 3Y
- Downside capture consistently below 87% across all windows, limiting losses in weak markets
- Well-diversified 87-stock portfolio with the top holding at only 3.63% of NAV and 3Y SIP XIRR of 17.49% beating the category average of 14.98%
- 5Y SIP XIRR of 13.67% trails the category average of 18.62% by nearly 5 percentage points, indicating weaker longer-horizon SIP performance versus peers
- Long recovery time from max drawdown of 475 days and weak calendar-year returns in 2022 (0.39%) and 2025 (2.82%) highlight periods of prolonged underperformance
Generated on 14-10-2026, 4:15 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 | ₹12.66 L | 15.0% | -23.0% | 53.6% |
| 3 Years | ₹36.00 L | ₹45.60 L | 17.7% | 2.2% | 32.8% |
| 5 Years | ₹60.00 L | ₹83.55 L | 13.6% | 9.5% | 15.8% |
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 | 15.0% | 14.3% | 11.4% | +0.8% |
| 3 Years | 17.7% | 11.0% | 14.9% | +6.6% |
| 5 Years | 13.6% | 10.4% | 18.6% | +3.2% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 14.8% | 9.1% | -5.8% | 45.2% | 0.58 | 2.59 | 90% | — | — |
| 3 Years | 18.0% | 18.1% | 11.8% | 23.4% | 4.63 | — | 100% | — | — |
| 5 Years | 14.1% | 14.4% | 11.1% | 16.0% | 6.68 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +12.39 | 0.98 | 99.0% | 83.5% | 3.3% | -9.5% |
| 3 Years | +7.47 | 0.96 | 96.8% | 86.9% | 13.0% | 5.5% |
| 5 Years | +6.22 | 0.92 | 91.9% | 83.7% | 11.0% | 4.6% |
| 7 Years | +5.15 | 0.91 | 91.1% | 81.7% | 11.7% | 6.5% |
| 10 Years | +3.33 | 0.91 | 91.1% | 81.7% | 8.1% | 4.5% |
| 12 Years | +2.64 | 0.91 | 91.1% | 81.7% | 6.7% | 3.8% |
| 15 Years | +1.98 | 0.91 | 91.1% | 81.7% | 5.3% | 3.0% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 3.63% |
| 2 | State Bank of India | 3.07% |
| 3 | Larsen & Toubro Limited | 2.54% |
| 4 | Indus Towers Limited | 2.31% |
| 5 | Eternal Limited | 2.24% |
| 6 | Shriram Finance Ltd | 2.02% |
| 7 | RBL Bank Limited | 1.97% |
| 8 | SJS Enterprises Pvt Limited | 1.88% |
| 9 | Axis Bank Limited | 1.87% |
| 10 | TD Power Systems Limited | 1.86% |