Bank of India FLEXI Cap Fund
Direct · GrowthAI Summary
Bank of India FLEXI Cap Fund has delivered strong SIP returns of 23.29% over 3Y and 19.0% over 5Y, significantly ahead of category average SIP XIRR of 14.73% and 16.08% respectively. Lump-sum CAGR has beaten the NIFTY 50 across all periods, with 3Y CAGR of 18.65% versus 6.22% for the benchmark and consistent positive alpha of 9.96% to 12.45% over medium-term windows. Recent calendar years have been weaker however, with just 5.45% in 2026 and 0.34% in 2025 after strong 2021-2024 performances.
The fund exhibits disciplined downside behavior with downside capture of 77.7% over 1Y and 86.5% to 93.26% over longer periods, cushioning losses better than the benchmark while upside capture stays above 95%. Risk-adjusted returns are solid, with Calmar ratios around 1.04 for the 1Y and 3Y windows and alpha remaining positive across all periods from 1Y to 15Y. The record of only 3 drawdown events exceeding 10% suggests contained volatility for a flexi cap mandate.
The 53-stock portfolio is well diversified, with the top holding SBI at only 4.62% of NAV and the top ten positions together under 32%. Banks is the largest sector at 15.8%, followed by Finance at 5.9% and Auto Components at 5.6%, with meaningful exposure to Aerospace & Defense and cyclical metals names like Vedanta and Lloyds Metals. This mix gives the fund a domestic financial-services corebalanced with allocation to cyclical and defense/themes.
The fund stands out among flexi cap peers, beating category average SIP XIRR by 8.56 percentage points over 3Y and 2.92 points over 5Y, and also outperforming on the 1Y XIRR by 8.63 points. Its 1Y beta of 0.89 versus the NIFTY 50 indicates it has moved less aggressively with the market while still generating alpha of 13.06%. The decade-long positive alpha of 6.97% and below-benchmark downside capture point to sustained, repeatable outperformance rather than a single lucky stretch.
This fund suits investors seeking market-plus returns with a moderately aggressive risk appetite and a horizon of at least 5 years to ride through weaker phases like the flat 2025 returns. It is appropriate as a core flexi cap holding for SIP investors who value downside protection alongside upside participation. Investors should be comfortable with cyclical exposure to banks, metals, and defense themes that can cause year-to-year return variability.
- SIP XIRR of 23.29% over 3Y and 19.0% over 5Y comfortably exceeds category averages of 14.73% and 16.08%
- Consistent positive alpha over the NIFTY 50 across all periods from 1Y to 15Y, including 12.45% over 3Y
- Below-benchmark downside capture (77.7% at 1Y) limiting losses during market declines
- Recent calendar year performance has been muted, with only 0.34% in 2025 and 5.45% in 2026
- Concentration in banks (15.8%) plus metals and cyclical holdings could hurt if financials or commodities underperform
Generated on 01-11-2026, 2:59 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 | ₹12.84 L | 24.7% | -31.9% | 80.2% |
| 3 Years | ₹36.00 L | ₹48.09 L | 23.0% | 5.4% | 42.2% |
| 5 Years | ₹60.00 L | ₹93.40 L | 19.1% | 13.2% | 24.3% |
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 | 24.7% | 14.3% | 9.4% | +10.4% |
| 3 Years | 23.0% | 11.0% | 14.7% | +12.0% |
| 5 Years | 19.1% | 10.4% | 16.1% | +8.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 24.7% | 16.1% | -7.5% | 82.2% | 0.72 | 4.66 | 85% | — | — |
| 3 Years | 24.6% | 24.2% | 15.3% | 31.1% | 4.96 | — | 100% | — | — |
| 5 Years | 21.6% | 20.7% | 14.3% | 30.3% | 3.50 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +11.29 | 0.88 | 92.7% | 78.2% | 6.4% | -6.4% |
| 3 Years | +11.18 | 1.06 | 107.1% | 93.5% | 18.5% | 7.3% |
| 5 Years | +9.30 | 1.01 | 101.8% | 90.5% | 15.1% | 5.8% |
| 7 Years | +10.27 | 0.96 | 99.3% | 86.5% | 22.5% | 12.4% |
| 10 Years | +6.77 | 0.96 | 99.3% | 86.5% | 15.2% | 8.6% |
| 12 Years | +5.50 | 0.96 | 99.3% | 86.5% | 12.6% | 7.1% |
| 15 Years | +4.27 | 0.96 | 99.3% | 86.5% | 9.9% | 5.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | State Bank of India | 5.05% |
| 2 | ICICI Bank Limited | 3.41% |
| 3 | Quality Power Electrical Eqp Ltd | 2.78% |
| 4 | Hindustan Aeronautics Limited | 2.77% |
| 5 | Mankind Pharma Limited | 2.67% |
| 6 | Sky Gold And Diamonds Limited | 2.62% |
| 7 | Sigma Advanced Systems Limited | 2.62% |
| 8 | Sterlite Technologies Limited | 2.61% |
| 9 | Dr. Reddy's Laboratories Limited | 2.51% |
| 10 | Balrampur Chini Mills Limited | 2.51% |