Bank of India LARGE and Mid Cap Fund
Direct · GrowthAI Summary
The fund has delivered strong XIRR of 16.02% over 3Y and 16.17% over 5Y, consistently beating the NIFTY 50 lump-sum CAGR across 3Y (13.2% vs 6.4%), 5Y (10.36% vs 5.16%) and 10Y (12.71% vs 10.33%), with 1Y alpha of 8.09%. However, category comparison is less flattering — its 3Y XIRR of 16.02% trails the category average of 18.19%, 5Y of 16.17% trails 18.04%, and 10Y of 15.28% trails 16.82%. Longer-term consistency versus the benchmark remains solid, with 15Y alpha of 3.02%.
The fund shows low downside exposure with downside capture below 100% across all periods (e.g., 86.22% over 7Y) and beta of ~0.90 in longer windows, cushioning it in corrections such as 2026 (fund -3.37% vs benchmark -10.92% 1Y CAGR). Risk-adjusted returns are steady, with Calmar ratio of 0.37-0.43 across horizons and modest average drawdown of -0.062%. The 805-day maximum drawdown duration with 240-day recovery highlights that patience is required for pullbacks to heal.
The portfolio holds 50 stocks with a well-spread top 10 (6.68% Reliance Industries, 4.97% HDFC Bank, 4.26% Larsen & Toubro), avoiding single-stock concentration. Banks lead sectors at 16.3%, with Pharmaceuticals (11.2%), Petroleum Products (6.7%), IT (6.6%) and Retailing (6.1%) providing diversification across financials, healthcare, energy and consumer names. Mid-cap oriented positions like Lloyds Metals and FSN E-Commerce reflect the fund's large and mid-cap mandate.
Against peers, the fund lags on SIP XIRR at every horizon — for example, 3Y XIRR of 16.02% versus the 18.19% category average, a gap of about 2.2 percentage points. Its lump-sum rolling 3Y mean of 16.5% is its strongest rolling figure, showing consistency in rolling windows. The persistent benchmark alpha indicates genuine stock selection, but peers in the Large & Mid Cap category have delivered superior SIP returns.
This fund suits investors seeking diversified large and mid-cap exposure who value downside protection and benchmark-beating lump-sum returns over category-topping SIP performance. A horizon of 5-7 years or more is appropriate, given long drawdown recovery periods and the volatility inherent in this mandate. Investors should be able to tolerate interim declines, including years like 2018 (-13.94%).
- Consistent benchmark outperformance with positive alpha across all horizons from 1Y (8.09%) to 15Y (3.02%)
- Strong downside protection, with downside capture of 82.51% over 1Y and beta around 0.89-0.91 in longer periods
- Well-diversified 50-stock portfolio with no holding above 6.68% and balanced sector allocation
- SIP XIRR trails the category average at every horizon, including 10Y (15.28% vs 16.82%), suggesting weaker relative SIP wealth creation
- High expense ratio of 1.72% Direct plan may pressure long-term returns, and the prolonged 805-day max drawdown recovery indicates extended underwater periods
Generated on 03-11-2026, 4:40 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 | ₹12.76 L | 17.1% | -50.1% | 71.3% |
| 3 Years | ₹36.00 L | ₹44.32 L | 14.3% | -20.4% | 36.7% |
| 5 Years | ₹60.00 L | ₹87.28 L | 14.3% | -8.3% | 28.7% |
| 7 Years | ₹84.00 L | ₹1.43 Cr | 14.7% | -2.1% | 23.1% |
| 10 Years | ₹1.20 Cr | ₹2.64 Cr | 15.3% | 11.7% | 18.9% |
| 12 Years | ₹1.44 Cr | ₹3.62 Cr | 14.6% | 12.8% | 17.1% |
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 | 17.1% | 14.3% | 11.0% | +2.8% |
| 3 Years | 14.3% | 11.0% | 18.2% | +3.2% |
| 5 Years | 14.3% | 10.4% | 18.0% | +4.0% |
| 7 Years | 14.7% | 10.6% | 17.1% | +4.2% |
| 10 Years | 15.3% | 11.4% | 16.8% | +3.8% |
| 12 Years | 14.6% | 11.3% | 16.4% | +3.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 16.3% | 12.8% | -24.9% | 81.0% | 0.49 | 1.37 | 80% | — | — |
| 3 Years | 14.5% | 15.2% | -5.7% | 31.6% | 1.22 | 4.58 | 97% | — | — |
| 5 Years | 14.0% | 13.6% | -1.7% | 28.1% | 1.33 | 8.84 | 100% | — | — |
| 10 Years | 14.1% | 14.1% | 10.7% | 16.5% | 7.09 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.09 | 0.89 | 94.7% | 82.5% | -1.0% | -10.9% |
| 3 Years | +6.80 | 1.02 | 104.3% | 95.8% | 13.2% | 6.4% |
| 5 Years | +5.16 | 0.97 | 98.4% | 91.7% | 10.4% | 5.2% |
| 7 Years | +5.75 | 0.89 | 92.6% | 86.2% | 15.3% | 10.0% |
| 10 Years | +2.73 | 0.91 | 93.2% | 89.6% | 12.7% | 10.3% |
| 12 Years | +2.97 | 0.90 | 92.6% | 88.6% | 11.8% | 9.0% |
| 15 Years | +3.02 | 0.91 | 93.2% | 89.0% | 12.1% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Reliance Industries Limited | 6.68% |
| 2 | HDFC Bank Limited | 4.97% |
| 3 | Larsen & Toubro Limited | 4.26% |
| 4 | Kotak Mahindra Bank Limited | 3.90% |
| 5 | FSN E-Commerce Ventures Limited | 3.59% |
| 6 | Aurobindo Pharma Limited | 3.50% |
| 7 | Lloyds Metals And Energy Limited | 3.27% |
| 8 | ICICI Lombard General Insurance Company Limited | 3.11% |
| 9 | Tata Consultancy Services Limited | 2.87% |
| 10 | State Bank of India | 2.69% |