Bajaj Finserv Large and Mid Cap Fund
Direct · GrowthAI Summary
The fund has delivered positive alpha across all measured periods versus the NIFTY 50, with a 1Y alpha of 6.53% and a 3Y alpha of 4.89%, while its 1Y XIRR of 3.54% trails the category average SIP XIRR of 11.08%. Over longer horizons, the fund's lump-sum CAGR has consistently exceeded the benchmark, such as 6.4% versus 0.81% over 3Y. However, the gap versus category averages suggests peers have captured stronger SIP returns.
The fund exhibits defensive characteristics with a beta of 0.88-0.94 and a downside capture of 82.97-84.35%, meaning it has fallen less than the benchmark in down markets. Its maximum drawdown of just -0.16% over 154 days with a 262-day recovery indicates shallow drawdowns, though 2 drawdown events exceeding 10% show it is not immune to market stress. The 1Y Calmar ratio of 0.32 reflects modest risk-adjusted returns in the current weak market phase.
The portfolio is diversified across 61 holdings, with the top 10 accounting for roughly 34% of NAV and banks forming the largest sector at 17.3%, followed by auto components at 11.5%. Key positions include ICICI Bank (5.58%), Divi's Laboratories (3.91%), and HDFC Bank (3.89%), providing a financials-heavy core balanced by pharma, consumer, and auto ancillary exposure. No single stock exceeds 6%, limiting single-name concentration risk.
Against category average SIP XIRRs of 18.22% (3Y) and 18.06% (5Y), the fund appears to be lagging peers on SIP-based returns despite beating the NIFTY 50 benchmark on lump-sum CAGR. Its consistent positive alpha across 1Y through 15Y windows demonstrates benchmark outperformance, but the shortfall versus category averages indicates weaker relative positioning among large & mid cap peers. Calendar year returns of 20.73% (2024), 6.31% (2025), and -6.87% (2026) show decelerating momentum.
This fund suits investors seeking large & mid cap exposure with below-benchmark volatility and a defensive downside profile, ideally with a 5-7 year horizon to ride out mid cap cycles. It is appropriate for moderate risk tolerance investors who prioritize capital protection in downturns over maximum upside capture, given its 90.58% upside capture ratio. SIP investors should note the current 1Y XIRR of 3.54% is well below category norms and evaluate whether the fund's alpha justifies the category underperformance.
- Consistent positive alpha versus NIFTY 50 across all periods from 1Y (6.53%) to 15Y (0.31%)
- Strong downside protection with downside capture of 82.97% and beta of 0.88 over longer horizons
- Well-diversified 61-stock portfolio with no holding above 5.58% of NAV
- 1Y XIRR of 3.54% significantly trails the category average SIP XIRR of 11.08%
- Upside capture of 90.58% suggests the fund lags in strong market rallies, limiting upside participation
- Recent momentum is weak, with a -6.87% calendar year return in 2026 and a 1Y Calmar ratio of just 0.32
Generated on 22-10-2026, 2:58 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 | ₹12.29 L | 3.7% | -19.6% | 18.0% |
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 | 3.7% | 14.3% | 11.1% | -10.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 5.1% | 5.4% | -6.9% | 15.9% | -0.29 | -0.33 | 82% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.75 | 0.95 | 93.3% | 86.9% | -6.9% | -12.7% |
| 3 Years | +4.12 | 0.88 | 90.6% | 84.1% | 5.3% | 0.4% |
| 5 Years | +2.13 | 0.88 | 90.6% | 84.1% | 3.1% | 0.2% |
| 7 Years | +1.28 | 0.88 | 90.6% | 84.1% | 2.2% | 0.2% |
| 10 Years | +0.65 | 0.88 | 90.6% | 84.1% | 1.6% | 0.1% |
| 12 Years | +0.41 | 0.88 | 90.6% | 84.1% | 1.3% | 0.1% |
| 15 Years | +0.17 | 0.88 | 90.6% | 84.1% | 1.0% | 0.1% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 5.58% |
| 2 | Divi's Laboratories Limited | 3.91% |
| 3 | HDFC Bank Limited | 3.89% |
| 4 | Sona BLW Precision Forgings Limited | 3.44% |
| 5 | Reliance Industries Limited | 3.22% |
| 6 | The Federal Bank Limited | 3.05% |
| 7 | UNO Minda Limited | 2.95% |
| 8 | K.P.R. Mill Limited | 2.87% |
| 9 | Berger Paints (I) Limited | 2.85% |
| 10 | State Bank of India | 2.78% |