Bajaj Finserv Flexi Cap Fund
Direct · GrowthAI Summary
Bajaj Finserv Flexi Cap Fund has delivered strong alpha over the NIFTY 50 across all measured periods, with a 3Y lump-sum CAGR of 18.26% versus the benchmark's 7.75% and a 1Y CAGR of 10.76% against -2.9%. Its 3Y SIP XIRR of 13.45% trails the category average of 14.89%, and the 1Y XIRR of 15.34% is slightly below the 15.6% category average. Alpha has compressed over longer horizons, from 10.65% at 3Y to 1.38% at 15Y, indicating outperformance is more pronounced in recent periods.
The fund shows favorable downside behavior with downside capture of 79.75% at 3Y and 84.9% at 1Y, meaning it falls meaningfully less than the NIFTY 50 in weak markets. Beta of 0.89-0.98 indicates moderate market sensitivity, and only 2 drawdown events exceeding 10% were recorded, with the maximum drawdown recovering in 119 days. Calmar ratios of 0.88 (1Y) and 1.04 (3Y) suggest reasonable risk-adjusted returns relative to drawdown severity.
The portfolio is well diversified across 69 holdings, with the top 10 accounting for roughly 33% of NAV, led by ICICI Bank (5.6%) and HDFC Bank (4.34%). Banks is the largest sector at 17.1%, followed by Consumer Durables (9.8%) and Pharmaceuticals (9.6%), giving a financials-heavy but broadly spread allocation. Exposure spans growth areas like auto components (Sona BLW at 3.09%) and consumer names like Titan, alongside large-cap anchors such as Reliance Industries.
On SIP XIRR, the fund slightly lags category averages, with 3Y XIRR of 13.45% versus 14.89% for the category and 1Y XIRR of 15.34% versus 15.6%. However, its calendar year returns show decent consistency, including 28.14% in 2024 and steady single-digit gains of 7.31% in 2025 and 7.02% in 2026. Its strong benchmark alpha and low downside capture suggest it competes more on risk management than on topping SIP return rankings.
This fund suits investors seeking a flexi-cap core holding with below-benchmark downside risk and a minimum horizon of 3-5 years to allow alpha to compound. Its moderate beta and controlled drawdown profile make it appropriate for investors with moderate risk tolerance who prioritize capital preservation in weak markets. SIP investors should note that category peers have posted slightly higher XIRRs recently, so it may work best alongside other equity holdings rather than as a sole return driver.
- Consistent positive alpha versus NIFTY 50 across all periods from 1Y to 15Y, including 13.47% alpha at 1Y and 10.65% at 3Y
- Low downside capture of 79.75% at 3Y and 84.9% at 1Y, cushioning losses in market downturns
- Well-diversified 69-stock portfolio with a moderate 33% in the top 10 holdings and a reasonable 0.55% expense ratio
- SIP XIRR of 13.45% at 3Y and 15.34% at 1Y trails category averages of 14.89% and 15.6% respectively
- Alpha has narrowed significantly over longer horizons, falling from 10.65% at 3Y to just 1.38% at 15Y, raising questions about sustained long-term outperformance
Generated on 10-09-2026, 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 | ₹12.71 L | 15.3% | -19.0% | 62.7% |
| 3 Years | ₹36.00 L | ₹43.55 L | 13.5% | 12.0% | 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 | 15.3% | 14.4% | 14.2% | +1.0% |
| 3 Years | 13.5% | 11.1% | 13.6% | +2.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.5% | 10.6% | -2.2% | 50.8% | 0.67 | 6.02 | 99% | — | — |
| 3 Years | 18.3% | 18.3% | 18.2% | 18.3% | 553.90 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +13.47 | 0.98 | 102.3% | 84.9% | 10.8% | -2.9% |
| 3 Years | +10.65 | 0.89 | 94.0% | 79.8% | 18.3% | 7.8% |
| 5 Years | +5.85 | 0.89 | 94.0% | 79.5% | 10.6% | 4.5% |
| 7 Years | +3.89 | 0.89 | 94.0% | 79.5% | 7.5% | 3.2% |
| 10 Years | +2.46 | 0.89 | 94.0% | 79.5% | 5.2% | 2.2% |
| 12 Years | +1.91 | 0.89 | 94.0% | 79.5% | 4.3% | 1.9% |
| 15 Years | +1.38 | 0.89 | 94.0% | 79.5% | 3.4% | 1.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 5.60% |
| 2 | HDFC Bank Limited | 4.34% |
| 3 | Reliance Industries Limited | 3.57% |
| 4 | Sona BLW Precision Forgings Limited | 3.09% |
| 5 | Divi's Laboratories Limited | 3.06% |
| 6 | Bajaj Finance Limited | 3.00% |
| 7 | The Federal Bank Limited | 2.95% |
| 8 | UltraTech Cement Limited | 2.52% |
| 9 | Titan Company Limited | 2.51% |
| 10 | K.P.R. Mill Limited | 2.49% |