Bajaj Finserv Flexi Cap Fund
Direct · GrowthAI Summary
Bajaj Finserv Flexi Cap Fund has delivered a 1Y SIP XIRR of 11.32% and a 3Y SIP XIRR of 11.41%, outperforming the category average SIP XIRR of 9.52% over 1Y but trailing the 3Y category average of 14.76%. Against the NIFTY 50, the fund shows consistent alpha across all periods, including 9.43% over 1Y and 9.00% over 3Y, with lump-sum Fund CAGR of 15.46% versus the benchmark's 6.46% over 3Y. Calendar year returns have been positive in 2023, 2024, and 2025, though 2026 is currently at -1.27%.
The fund exhibits strong downside protection with a downside capture of 85.14% over 1Y and 82.44% over 3Y, meaning it falls significantly less than the benchmark during declines. Maximum drawdown was modest at -0.18% with a 157-day duration and 119-day recovery, and only 2 drawdown events exceeded 10%. Calmar ratios of 0.83 (1Y) and 0.95 (3Y) indicate solid risk-adjusted returns, supported by a beta below 1 (0.89-0.95) across periods.
The portfolio is well diversified across 70 holdings, with the top 10 positions totaling roughly 32.7% of NAV. Banks is the largest sector at 18.3%, anchored by ICICI Bank (5.78%) and HDFC Bank (4.01%), followed by Pharmaceuticals (9.9%) and Consumer Durables (9.3%). Exposure spans financials, healthcare, auto components, and industrials, providing balanced sector spread without excessive single-stock concentration.
The fund beats the category on 1Y SIP XIRR (11.32% vs 9.52%) but lags on 3Y SIP XIRR (11.41% vs 14.76%), suggesting recent relative momentum is stronger than its medium-term SIP performance. Its consistent positive alpha versus the NIFTY 50 across 1Y through 15Y windows, along with superior downside capture, indicates dependable benchmark-relative performance. The low 0.55% expense ratio for a direct plan enhances net returns versus higher-cost peers.
This fund suits investors seeking large-cap-anchored diversification with flexi-cap flexibility and a preference for lower volatility, given its below-1 beta and strong downside capture. A minimum horizon of 5 years is recommended to allow the fund's alpha generation and compounding to materialize. It is appropriate for moderate risk tolerance investors who prioritize capital protection during market corrections over maximum upside participation.
- Consistent positive alpha versus NIFTY 50 across all time periods, with 9.43% alpha over 1Y and 9.00% over 3Y
- Strong downside protection with downside capture of 82.44% over 3Y and only 2 drawdown events exceeding 10%
- Low expense ratio of 0.55% and diversified 70-stock portfolio with no single holding above 5.78% of NAV
- 3Y SIP XIRR of 11.41% trails the category average of 14.76%, indicating weaker medium-term SIP performance versus peers
- Upside capture of 94.46% over 3Y means the fund participates less fully in market rallies, which may cap returns in strong bull phases
Generated on 30-10-2026, 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 | ₹12.68 L | 14.7% | -19.0% | 62.7% |
| 3 Years | ₹36.00 L | ₹43.02 L | 11.4% | 5.4% | 14.4% |
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 | 14.7% | 14.3% | 9.5% | +0.4% |
| 3 Years | 11.4% | 11.0% | 14.7% | +0.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 14.5% | 9.7% | -2.8% | 50.8% | 0.61 | 4.35 | 98% | — | — |
| 3 Years | 16.6% | 16.6% | 14.5% | 18.3% | 8.33 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +9.86 | 0.94 | 97.3% | 83.3% | -0.1% | -10.9% |
| 3 Years | +9.37 | 0.89 | 94.1% | 81.8% | 15.8% | 6.4% |
| 5 Years | +5.38 | 0.88 | 92.4% | 79.6% | 9.3% | 3.5% |
| 7 Years | +3.56 | 0.88 | 92.4% | 79.6% | 6.5% | 2.5% |
| 10 Years | +2.22 | 0.88 | 92.4% | 79.6% | 4.5% | 1.8% |
| 12 Years | +1.72 | 0.88 | 92.4% | 79.6% | 3.8% | 1.5% |
| 15 Years | +1.20 | 0.88 | 92.4% | 79.6% | 3.0% | 1.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Limited | 5.86% |
| 2 | ICICI Bank Limited | 5.49% |
| 3 | Reliance Industries Limited | 3.94% |
| 4 | Divi's Laboratories Limited | 3.61% |
| 5 | Sona BLW Precision Forgings Limited | 3.09% |
| 6 | Axis Bank Limited | 2.53% |
| 7 | UltraTech Cement Limited | 2.50% |
| 8 | Bajaj Finance Limited | 2.42% |
| 9 | K.P.R. Mill Limited | 2.41% |
| 10 | Titan Company Limited | 2.26% |