Axis Flexi Cap Fund
Direct · GrowthAI Summary
Axis Flexi Cap Fund has delivered a 3Y SIP XIRR of 15.54% and 5Y XIRR of 14.44%, beating the category averages of 14.84% and 16.12% respectively at 3Y but lagging at 5Y. Against the NIFTY 50, the fund shows consistent positive alpha across all windows, including 7.84% alpha over 3Y and 3.54% over 7Y, with lump-sum CAGRs of 12.68% (3Y) versus the benchmark's 4.78%. The 1Y XIRR of 10.19% modestly exceeds the category's 9.61%, indicating recent resilience in a weak market where the NIFTY 50 returned -9.93%.
The fund exhibits a beta below 1 across all periods (0.85-0.97) with downside capture consistently below upside capture — for example, 87.88% downside versus 87.88% upside over 10Y and 82.13% downside over 15Y — demonstrating strong downside protection. The maximum drawdown of -0.30% with a 40-day duration and 231-day recovery reflects low recent volatility, though 4 drawdown events exceeding 10% have occurred historically. Calmar ratios of roughly 0.50-0.53 across 1Y to 7Y windows indicate stable risk-adjusted returns.
The portfolio holds 61 stocks with a diversified top 10 accounting for about 37.5% of NAV, led by ICICI Bank at 7.49%. Banks is the largest sector at 18.0%, followed by Electrical Equipment (8.1%) and Finance (7.5%), giving meaningful financial sector exposure of roughly 25.5% combined. Holdings span banks, defense, retail, healthcare, cement, and autos, reflecting genuine flexi-cap style diversification across market segments.
The fund outperforms the category on SIP XIRR at 1Y (10.19% vs 9.61%) and 3Y (15.54% vs 14.84%), but trails at 5Y (14.44% vs 16.12%) and 7Y (14.70% vs 15.48%). Calendar year returns show strong consistency with positive years in 9 of the last 10, including 29.53% in 2021 and 23.59% in 2024, though 2022 saw a -9.06% dip and 2025-2026 gains have been modest (1.94% and 3.55%). Its long-term alpha over the NIFTY 50 across 10Y and 15Y windows supports a durable edge over the passive benchmark.
This fund suits investors seeking diversified equity exposure with below-market downside risk and a track record of benchmark outperformance. A horizon of 5-7 years or more is appropriate, as the fund's alpha compounds meaningfully over longer windows (11.82% CAGR vs 8.13% benchmark over 10Y). Moderate risk tolerance is sufficient given the low beta and strong downside capture, but investors should accept periods of category underperformance such as the 5Y and 7Y XIRR gaps.
- Consistent positive alpha over NIFTY 50 across all measured windows, including 7.84% over 3Y and 3.93% over 10Y
- Favorable asymmetry with downside capture consistently below upside capture (e.g., 82.13% downside vs 87.88% upside over 10Y)
- Strong recent SIP performance with 3Y XIRR of 15.54% beating the category average of 14.84%
- Underperformance versus category average SIP XIRR at 5Y (14.44% vs 16.12%) and 7Y (14.70% vs 15.48%)
- Heavy financial sector exposure of roughly 25.5% (Banks 18.0% plus Finance 7.5%) creates concentration risk
- Weak recent calendar year returns of 1.94% in 2025 and 3.55% in 2026 suggest momentum has slowed
Generated on 17-10-2026, 2:16 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 | ₹12.65 L | 15.6% | -40.4% | 77.6% |
| 3 Years | ₹36.00 L | ₹44.78 L | 16.4% | 1.6% | 36.2% |
| 5 Years | ₹60.00 L | ₹84.72 L | 14.5% | 6.4% | 23.2% |
| 7 Years | ₹84.00 L | ₹1.41 Cr | 14.8% | 9.9% | 19.9% |
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 | 15.6% | 14.3% | 9.6% | +1.3% |
| 3 Years | 16.4% | 11.0% | 14.8% | +5.3% |
| 5 Years | 14.5% | 10.4% | 16.1% | +4.1% |
| 7 Years | 14.8% | 10.6% | 15.5% | +4.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.1% | 10.1% | -14.9% | 70.9% | 0.51 | 1.71 | 84% | — | — |
| 3 Years | 15.9% | 15.4% | 8.2% | 28.0% | 2.68 | — | 100% | — | — |
| 5 Years | 15.0% | 15.1% | 7.0% | 22.1% | 2.69 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.91 | 0.95 | 95.5% | 84.1% | 0.2% | -9.5% |
| 3 Years | +7.08 | 0.96 | 97.1% | 87.8% | 12.6% | 5.5% |
| 5 Years | +2.36 | 0.93 | 91.4% | 87.9% | 7.1% | 4.6% |
| 7 Years | +3.18 | 0.86 | 88.8% | 84.8% | 13.2% | 10.6% |
| 10 Years | +3.69 | 0.85 | 87.7% | 82.2% | 11.8% | 8.3% |
| 12 Years | +2.87 | 0.85 | 87.7% | 82.2% | 9.7% | 6.9% |
| 15 Years | +2.06 | 0.85 | 87.7% | 82.2% | 7.7% | 5.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 7.49% |
| 2 | Bajaj Finance Limited | 3.94% |
| 3 | Bharat Electronics Limited | 3.84% |
| 4 | Eternal Limited | 3.71% |
| 5 | Axis Bank Limited | 3.38% |
| 6 | Krishna Institute Of Medical Sciences Limited | 3.27% |
| 7 | State Bank of India | 3.21% |
| 8 | Apar Industries Limited | 3.12% |
| 9 | UltraTech Cement Limited | 2.90% |
| 10 | Mahindra & Mahindra Limited | 2.62% |