Bajaj Finserv Large and Mid Cap Fund
Direct · GrowthAI Summary
Bajaj Finserv Large and Mid Cap Fund has delivered consistent alpha over the NIFTY 50 across all measured periods, with a 1Y alpha of 8.22% and a 3Y alpha of 5.99%. Its 1Y SIP XIRR of 4.04% trails the category average of 16.54% by a wide margin, indicating underperformance versus large and mid cap peers despite benchmark outperformance. Calendar year returns show a decelerating trend, from 20.73% in 2024 to 6.31% in 2025 and just 0.31% in 2026 so far.
The fund exhibits strong downside protection, with a downside capture of 83.47% versus 93.03% upside capture over longer periods, and a maximum drawdown of only -0.16% with two drawdown events exceeding 10%. The 1Y Calmar ratio of 0.345 reflects modest risk-adjusted returns given the muted 1Y XIRR of 4.04%. Recovery from the maximum drawdown took 262 days, longer than the 154-day drawdown itself, suggesting patience is required after sharp corrections.
The portfolio is well diversified across 61 holdings, with the top 10 positions totaling roughly 34% of NAV and no single stock above 5.23% (ICICI Bank). Banks dominate at 18.2% of the portfolio, followed by Auto Components at 11.3%, giving the fund a meaningful financial sector tilt. Exposure spans defensive sectors like FMCG and Pharmaceuticals alongside cyclical Auto Components and Consumer Durables, providing reasonable balance.
The fund's 1Y SIP XIRR of 4.04% significantly lags the category average of 16.54%, placing it in the bottom tier of large and mid cap peers on recent SIP returns. However, its consistent positive alpha versus the NIFTY 50 across 1Y through 15Y horizons demonstrates genuine stock-selection skill relative to the benchmark. The gap between benchmark outperformance and category underperformance suggests the fund's defensive, lower-beta profile (0.89) has lagged in periods when more aggressive peers rallied.
This fund suits conservative equity investors seeking large and mid cap exposure with lower volatility than typical category peers, given its downside capture of 83.47% and low beta of 0.89. A time horizon of at least 5 years is appropriate, as the fund's alpha compounds over longer periods even though recent 1Y returns are muted. Investors should have moderate risk tolerance and accept that SIP returns may trail faster-moving category peers during strong bull phases.
- Consistent positive alpha versus NIFTY 50 across all periods, from 8.22% over 1Y to 0.57% over 15Y
- Superior downside protection with downside capture of 83.47% versus upside capture of 93.03% over longer horizons
- Well-diversified 61-stock portfolio with no single holding above 5.23% of NAV
- 1Y SIP XIRR of 4.04% dramatically underperforms the category average of 16.54%
- Decelerating calendar year returns, from 20.73% in 2024 to just 0.31% in 2026 year-to-date
- Heavy banking sector concentration at 18.2% of the portfolio exposes investors to financial sector downturns
Generated on 09-09-2026, 3:37 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 | 4.0% | -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 | 4.0% | 14.4% | 16.5% | -10.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 5.6% | 6.0% | -5.6% | 15.9% | -0.19 | -0.23 | 85% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.22 | 0.99 | 98.3% | 87.4% | 5.5% | -2.9% |
| 3 Years | +5.99 | 0.89 | 93.0% | 83.5% | 9.1% | 2.6% |
| 5 Years | +3.22 | 0.89 | 93.0% | 83.5% | 5.3% | 1.6% |
| 7 Years | +2.07 | 0.89 | 93.0% | 83.5% | 3.8% | 1.1% |
| 10 Years | +1.23 | 0.89 | 93.0% | 83.5% | 2.6% | 0.8% |
| 12 Years | +0.89 | 0.89 | 93.0% | 83.5% | 2.2% | 0.7% |
| 15 Years | +0.57 | 0.89 | 93.0% | 83.5% | 1.8% | 0.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 5.23% |
| 2 | HDFC Bank Limited | 4.13% |
| 3 | Sona BLW Precision Forgings Limited | 3.44% |
| 4 | Divi's Laboratories Limited | 3.35% |
| 5 | Reliance Industries Limited | 3.32% |
| 6 | The Federal Bank Limited | 3.19% |
| 7 | Berger Paints (I) Limited | 3.15% |
| 8 | Shriram Finance Limited | 2.86% |
| 9 | UNO Minda Limited | 2.75% |
| 10 | ITC Limited | 2.73% |