Axis Large and Mid Cap Fund
Direct · GrowthAI Summary
Axis Large and Mid Cap Fund has delivered strong SIP XIRR returns across horizons, with 19.7% over 3Y and 19.98% over 5Y, comfortably ahead of category averages of 18.19% and 18.04% respectively. Against the NIFTY 50, the fund has generated substantial alpha at every horizon — 10.62% over 1Y, 8.52% over 3Y, and 5.58% over 5Y — with fund CAGR nearly tripling the benchmark's 5.85% over 3Y. The 7Y XIRR of 18.09% versus a category average of 17.07% confirms durable long-term outperformance.
The fund exhibits favorable downside behavior versus the benchmark, with downside capture declining from 83.57% over 1Y to 68.37% over 15Y, meaning it has historically protected capital better in falling markets. Calmar ratios are stable around 0.60–0.67 across horizons, indicating consistent risk-adjusted returns. Four drawdown events exceeding 10% underline that this remains a volatile equity category, though recovery behavior appears manageable.
The fund holds 83 stocks with a well-diversified top 10 comprising only about 24.6% of NAV, led by ICICI Bank (4.24%) and HDFC Bank (3.67%). Banks is the largest sector at 16.7%, followed by Electrical Equipment (7.7%) and Finance (6.1%), giving meaningful weight to financials alongside industrials and capital markets names like BSE and MCX. This broad, quality-tilted portfolio limits single-stock concentration risk.
The fund beats category average XIRR at every measured horizon — 14.3% vs 11.01% (1Y), 19.7% vs 18.19% (3Y), 19.98% vs 18.04% (5Y), and 18.09% vs 17.07% (7Y) — placing it in the upper tier of large and mid cap peers. Calendar year returns show strong consistency, with positive years in 2018, 2019, 2020, 2023, 2024, and 2025, including standout gains of 45.55% in 2021 and 32.34% in 2023. Losses in 2022 (-8.59%) and 2026 to date (-0.3%) were modest relative to the strong up-years.
This fund suits investors with a high risk tolerance and a horizon of at least 5–7 years, given its mid cap exposure and the volatility inherent in the category. It is appropriate as a core growth allocation for investors seeking returns above the large cap benchmark while accepting drawdowns of 10% or more during market stress. SIP investors in particular benefit from the fund's strong and consistent XIRR performance across horizons.
- XIRR beats category average at all horizons: 19.7% vs 18.19% (3Y), 19.98% vs 18.04% (5Y), and 18.09% vs 17.07% (7Y)
- Consistent alpha versus NIFTY 50 across all measured periods, including 10.62% over 1Y and 8.52% over 3Y
- Declining downside capture (83.57% over 1Y to 68.37% over 15Y) shows superior downside protection versus the benchmark
- Diversified 83-stock portfolio with the top 10 holding at roughly 24.6% of NAV, limiting concentration risk
- Four drawdown events exceeding 10% reflect the significant volatility typical of large and mid cap funds
- Recent performance is soft, with a -0.3% return in 2026 year-to-date and calendar year volatility ranging from -8.59% (2022) to +45.55% (2021)
Generated on 01-11-2026, 3:03 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 | ₹12.89 L | 21.8% | -42.4% | 83.8% |
| 3 Years | ₹36.00 L | ₹47.13 L | 20.8% | 3.8% | 45.2% |
| 5 Years | ₹60.00 L | ₹96.58 L | 20.0% | 10.0% | 29.4% |
| 7 Years | ₹84.00 L | ₹1.57 Cr | 18.2% | 14.6% | 21.0% |
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 | 21.8% | 14.3% | 11.0% | +7.5% |
| 3 Years | 20.8% | 11.0% | 17.8% | +9.8% |
| 5 Years | 20.0% | 10.4% | 18.0% | +9.6% |
| 7 Years | 18.2% | 10.6% | 17.1% | +7.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 21.1% | 15.8% | -17.2% | 89.2% | 0.68 | 3.24 | 87% | — | — |
| 3 Years | 21.2% | 20.8% | 11.7% | 31.6% | 3.44 | — | 100% | — | — |
| 5 Years | 21.2% | 22.5% | 10.0% | 29.9% | 3.32 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +10.48 | 0.94 | 98.0% | 83.5% | -0.3% | -12.0% |
| 3 Years | +8.53 | 0.88 | 93.5% | 82.0% | 14.8% | 6.2% |
| 5 Years | +5.45 | 0.84 | 86.5% | 78.4% | 11.0% | 5.3% |
| 7 Years | +8.59 | 0.73 | 80.5% | 70.5% | 17.6% | 10.0% |
| 10 Years | +6.16 | 0.72 | 78.2% | 68.4% | 14.0% | 8.4% |
| 12 Years | +4.73 | 0.72 | 78.2% | 68.4% | 11.6% | 6.9% |
| 15 Years | +3.34 | 0.72 | 78.2% | 68.4% | 9.1% | 5.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 4.43% |
| 2 | HDFC Bank Limited | 3.38% |
| 3 | Divi's Laboratories Limited | 2.76% |
| 4 | Eternal Limited | 2.68% |
| 5 | Sona BLW Precision Forgings Limited | 2.44% |
| 6 | Bharti Airtel Limited | 2.28% |
| 7 | Reliance Industries Limited | 2.19% |
| 8 | Axis Bank Limited | 2.03% |
| 9 | Multi Commodity Exchange of India Limited | 2.01% |
| 10 | GE Vernova T&D India Limited | 1.92% |