Axis Large Cap Fund
Direct · GrowthAI Summary
Axis Large Cap Fund has delivered a 3Y SIP XIRR of 13.73% and a 10Y SIP XIRR of 13.76%, broadly in line with category averages of 14.28% and 14.37% respectively, though it trails slightly across most horizons. Against the NIFTY 50, the fund shows consistent lump-sum outperformance over longer periods, with a 12Y CAGR of 12.37% versus the benchmark's 9.79% and positive alpha of 2.98%. However, the 5Y alpha is marginally negative at -0.14%, indicating benchmark-level returns in the recent five-year window.
The fund exhibits strong downside protection with downside capture below 95% across all periods (86.27% over 10Y) and a beta of 0.87-0.98, meaning it falls less than the index in weak markets. It has experienced 7 drawdown events greater than 10%, and the maximum drawdown recovery took 228 days, which investors should be prepared for. Calmar ratios of roughly 0.47-0.51 across horizons indicate reasonable risk-adjusted returns relative to drawdown depth.
The portfolio is concentrated in financials, with Banks alone at 25.1% and Finance adding another 6.0%, led by ICICI Bank (9.06%) and HDFC Bank (7.22%). With 45 total holdings and the top position under 10%, diversification is reasonable, though the four bank holdings in the top 10 (ICICI, HDFC, Axis, Kotak) create meaningful sector concentration. Other significant exposures include Larsen & Toubro (5.04%), Reliance Industries (4.78%), and Bharti Airtel (4.74%).
The fund's SIP XIRR slightly lags category averages across most horizons — for example, 13.73% vs 14.28% over 3Y and 13.76% vs 14.37% over 10Y — placing it in the middle of the large cap pack. Its consistency is better judged by benchmark performance, where it has beaten the NIFTY 50 over 1Y, 3Y, 7Y, 10Y, 12Y, and 15Y lump-sum horizons. Calendar year returns show strong upside years (42.57% in 2014, 39.67% in 2017) alongside contained losses in down years.
This fund suits investors seeking core large cap exposure with below-benchmark volatility and a long-term horizon of 7 years or more, where its alpha and downside capture advantages are most evident. It is appropriate for moderate risk tolerance investors who can accept occasional double-digit drawdowns and multi-month recovery periods. SIP investors benefit from its steady XIRR profile, though those seeking category-beating returns may find peers marginally stronger.
- Consistent long-term outperformance versus NIFTY 50, with 12Y alpha of 2.98% and 15Y alpha of 3.02%
- Strong downside protection with 10Y downside capture of 86.27% and beta of 0.87, cushioning falling markets
- Reasonable diversification across 45 holdings with no single stock above 9.06% of NAV
- SIP XIRR trails category averages across most horizons, including 13.73% vs 14.28% over 3Y and 13.76% vs 14.37% over 10Y
- Heavy banking concentration at 25.1% of NAV, with four banks among the top 10 holdings, exposing the fund to sector-specific risk
Generated on 02-09-2026, 2:56 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 | ₹12.69 L | 15.9% | -40.9% | 76.3% |
| 3 Years | ₹36.00 L | ₹43.65 L | 13.7% | -6.8% | 32.8% |
| 5 Years | ₹60.00 L | ₹84.12 L | 14.2% | 2.3% | 24.9% |
| 7 Years | ₹84.00 L | ₹1.37 Cr | 14.2% | 6.1% | 21.1% |
| 10 Years | ₹1.20 Cr | ₹2.45 Cr | 13.8% | 10.3% | 16.9% |
| 12 Years | ₹1.44 Cr | ₹3.42 Cr | 13.3% | 10.8% | 15.5% |
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 | 15.9% | 14.4% | 14.1% | +1.4% |
| 3 Years | 13.7% | 11.1% | 14.3% | +2.6% |
| 5 Years | 14.2% | 10.4% | 14.0% | +3.8% |
| 7 Years | 14.2% | 10.6% | 14.1% | +3.7% |
| 10 Years | 13.8% | 11.5% | 14.4% | +2.3% |
| 12 Years | 13.3% | 11.4% | 14.1% | +2.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.4% | 12.8% | -15.3% | 68.3% | 0.56 | 1.81 | 84% | — | — |
| 3 Years | 14.1% | 13.7% | 5.7% | 26.7% | 2.11 | 485.87 | 100% | — | — |
| 5 Years | 14.6% | 14.7% | 5.0% | 22.5% | 2.46 | 194.35 | 100% | — | — |
| 10 Years | 14.1% | 14.2% | 11.5% | 16.3% | 7.23 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +3.83 | 0.98 | 99.7% | 94.3% | 1.1% | -2.9% |
| 3 Years | +3.60 | 0.93 | 96.3% | 91.5% | 11.3% | 7.8% |
| 5 Years | -0.14 | 0.93 | 92.5% | 92.1% | 7.6% | 7.8% |
| 7 Years | +1.18 | 0.86 | 89.8% | 88.2% | 12.3% | 11.8% |
| 10 Years | +2.67 | 0.87 | 89.9% | 86.3% | 12.9% | 10.8% |
| 12 Years | +2.98 | 0.88 | 91.1% | 87.2% | 12.4% | 9.8% |
| 15 Years | +3.02 | 0.88 | 90.8% | 86.6% | 12.3% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 9.06% |
| 2 | HDFC Bank Limited | 7.22% |
| 3 | Larsen & Toubro Limited | 5.04% |
| 4 | Reliance Industries Limited | 4.78% |
| 5 | Bharti Airtel Limited | 4.74% |
| 6 | Bajaj Finance Limited | 3.77% |
| 7 | Mahindra & Mahindra Limited | 3.53% |
| 8 | Axis Bank Limited | 3.41% |
| 9 | Infosys Limited | 3.12% |
| 10 | Kotak Mahindra Bank Limited | 3.06% |