Axis Flexi Cap Fund
Direct · GrowthAI Summary
Axis Flexi Cap Fund has delivered strong SIP XIRR of 16.57% over 3 years and 14.58% over 5 years, beating the 3-year category average of 14.89% but trailing the 5-year and 7-year category averages of 15.64% and 15.57%. Against the NIFTY 50, the fund shows consistent alpha across horizons, including 10.44% alpha over 1 year and 8.34% over 3 years, with lump-sum CAGRs beating the benchmark at every measured period. Calendar year returns show strong up-years like 29.53% in 2021 and 23.59% in 2024, though 2022 saw a -9.06% decline and 2025 was muted at 1.94%.
The fund demonstrates strong downside protection with downside capture ratios of 87.8% over 1 year and 82.29% over 10-15 years, meaning it falls less than the benchmark in weak markets. Beta declines from 0.99 over 1 year to 0.85 over longer horizons, indicating progressively lower market sensitivity, and the Calmar ratio remains stable around 0.50-0.54 across periods. Four drawdown events exceeding 10% have occurred, and the 231-day recovery from maximum drawdown suggests investors should be prepared for extended recovery periods.
The portfolio holds 61 stocks with a diversified top-10 that accounts for roughly 37% of NAV, led by ICICI Bank at 7.49% and Bajaj Finance at 3.94%. Banks dominate at 18% of the portfolio, followed by Electrical Equipment at 8.1% and Finance at 7.5%, giving meaningful financial sector concentration. Holdings span banks, defense, retail, healthcare, cement, and automobiles, reflecting genuine flexi-cap breadth across market capitalizations and sectors.
The fund outperforms the category average SIP XIRR over 3 years (16.57% vs 14.89%) but lags over 5 years (14.58% vs 15.64%) and 7 years (14.95% vs 15.57%), indicating recent relative strength after a weaker mid-period stretch. Its consistent positive alpha versus the NIFTY 50 across 1-year through 15-year windows underscores genuine benchmark-beating skill. The combination of below-benchmark downside capture and near-parity upside capture in recent periods supports a favorable risk-adjusted peer positioning.
This fund suits investors seeking diversified, market-beating equity exposure with moderate downside protection, ideally with a 5-7 year or longer horizon given the four >10% drawdown events and multi-month recovery times. It is appropriate for moderate-to-high risk tolerance investors comfortable with interim volatility, including years like 2022's -9.06% return. SIP investors in particular benefit from the fund's strong 3-year XIRR of 16.57% versus the category's 14.89%.
- Consistent positive alpha versus NIFTY 50 across all measured horizons, including 10.44% over 1 year and 8.34% over 3 years
- Strong downside capture of 82.29% over 10-15 years, limiting losses in weak markets while beta stays low at 0.85
- 3-year SIP XIRR of 16.57% comfortably beats the category average of 14.89%
- 5-year and 7-year SIP XIRR of 14.58% and 14.95% trail category averages of 15.64% and 15.57%, showing uneven long-term consistency
- Banks and Finance together account for roughly 25.5% of the portfolio, creating meaningful financial sector concentration risk
Generated on 01-09-2026, 2:51 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 | ₹12.64 L | 15.6% | -40.4% | 77.6% |
| 3 Years | ₹36.00 L | ₹44.92 L | 16.6% | 1.6% | 36.2% |
| 5 Years | ₹60.00 L | ₹85.08 L | 14.6% | 6.4% | 23.2% |
| 7 Years | ₹84.00 L | ₹1.43 Cr | 14.9% | 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% | 14.4% | 15.6% | +1.2% |
| 3 Years | 16.6% | 11.1% | 14.9% | +5.4% |
| 5 Years | 14.6% | 10.4% | 15.6% | +4.2% |
| 7 Years | 14.9% | 10.6% | 15.6% | +4.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.3% | 10.4% | -14.9% | 70.9% | 0.52 | 1.74 | 84% | — | — |
| 3 Years | 16.0% | 15.4% | 8.2% | 28.0% | 2.68 | — | 100% | — | — |
| 5 Years | 15.3% | 15.3% | 9.7% | 22.1% | 2.98 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +10.44 | 0.99 | 101.8% | 87.8% | 7.7% | -2.9% |
| 3 Years | +8.34 | 0.97 | 99.1% | 88.3% | 16.1% | 7.8% |
| 5 Years | +2.96 | 0.94 | 92.8% | 88.3% | 10.7% | 7.8% |
| 7 Years | +4.06 | 0.86 | 89.4% | 84.7% | 15.1% | 11.8% |
| 10 Years | +3.84 | 0.85 | 88.0% | 82.3% | 12.3% | 8.8% |
| 12 Years | +2.98 | 0.85 | 88.0% | 82.3% | 10.2% | 7.3% |
| 15 Years | +2.16 | 0.85 | 88.0% | 82.3% | 8.0% | 5.8% |
| # | 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% |