Bank of India Multi Cap Fund
Direct · GrowthAI Summary
The fund has delivered strong outperformance versus the NIFTY 50 across all measured periods, with a 3Y lump-sum CAGR of 16.78% against the benchmark's 4.9% and alpha of 11.91%. On the primary SIP metric, its 1Y XIRR of 16.27% beats the category average of 11.47%, though its 3Y XIRR of 12.71% trails the category average of 15.0%. Calendar year returns show strong momentum in 2023 (43.36%) and 2024 (23.26%), but growth has slowed to 7.84% in 2025 and 3.0% in 2026.
Risk-adjusted performance is solid, with Calmar ratios of roughly 1.01 for both 1Y and 3Y periods and only 2 drawdown events exceeding 10%. Downside capture is consistently below 100% (77.54% over 1Y, 92.3% over 3Y), indicating the fund falls less than the benchmark in weak markets, while upside capture above 100% shows it participates fully in rallies. The maximum drawdown recovery took 238 days after a 157-day drawdown period, which investors should note for timing expectations.
The portfolio holds 56 stocks with a well-diversified top 10 accounting for roughly 33.6% of NAV, led by HDFC Bank (4.94%) and Reliance Industries (4.74%). Sector allocation is balanced, with Banks (13.4%) and Pharmaceuticals (12.4%) as the largest exposures, followed by IT, Retailing, and Construction. This diversified multi-cap structure limits single-stock and single-sector concentration risk.
The fund outperforms the category on 1Y SIP XIRR (16.27% vs 11.47%) but underperforms on 3Y XIRR (12.71% vs 15.0%), suggesting recent momentum is stronger than its medium-term SIP record. Long-term lump-sum consistency is a clear strength, with positive alpha over every period from 1Y through 15Y, including 9.83% over 5Y and 4.63% over 10Y. This persistent alpha across multiple horizons indicates genuine stock-selection skill rather than a short-term anomaly.
This fund suits investors seeking diversified multi-cap equity exposure with a track record of benchmark outperformance and controlled downside. A minimum horizon of 5-7 years is appropriate to ride out drawdowns like the 238-day recovery period observed. Moderate-to-high risk tolerance is needed, as the fund carries near-benchmark beta (0.98-1.02) and full equity market exposure.
- Consistent positive alpha versus NIFTY 50 across all periods from 1Y (16.98%) to 15Y (3.01%), indicating durable stock-selection skill
- Favorable asymmetry with upside capture above 100% (106.67% over 3Y) and downside capture below 100% (92.3% over 3Y)
- Well-diversified 56-stock portfolio with balanced sector allocation and no holding above 5% of NAV
- 3Y SIP XIRR of 12.71% trails the category average of 15.0%, showing mixed medium-term SIP performance
- Returns have decelerated sharply, from 43.36% in 2023 to just 3.0% in 2026, and the 1Y max drawdown recovery took 238 days
Generated on 13-10-2026, 3:13 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 | ₹12.82 L | 19.8% | -26.1% | 64.4% |
| 3 Years | ₹36.00 L | ₹43.60 L | 12.9% | 6.9% | 16.5% |
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 | 19.8% | 14.3% | 11.4% | +5.6% |
| 3 Years | 12.9% | 11.0% | 14.9% | +1.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 20.4% | 12.3% | -5.1% | 56.5% | 0.73 | 4.91 | 92% | — | — |
| 3 Years | 20.4% | 20.8% | 15.9% | 23.8% | 7.21 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +15.79 | 0.87 | 96.5% | 75.9% | 8.3% | -9.5% |
| 3 Years | +10.92 | 1.01 | 105.4% | 91.8% | 16.4% | 5.5% |
| 5 Years | +9.48 | 0.97 | 103.2% | 85.6% | 15.0% | 5.5% |
| 7 Years | +6.54 | 0.97 | 103.2% | 85.6% | 10.5% | 3.9% |
| 10 Years | +4.43 | 0.97 | 103.2% | 85.6% | 7.2% | 2.7% |
| 12 Years | +3.64 | 0.97 | 103.2% | 85.6% | 6.0% | 2.2% |
| 15 Years | +2.86 | 0.97 | 103.2% | 85.6% | 4.8% | 1.8% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Limited | 4.94% |
| 2 | Reliance Industries Limited | 4.74% |
| 3 | Larsen & Toubro Limited | 3.60% |
| 4 | Aurobindo Pharma Limited | 3.52% |
| 5 | Kotak Mahindra Bank Limited | 3.30% |
| 6 | Lloyds Metals And Energy Limited | 3.19% |
| 7 | FSN E-Commerce Ventures Limited | 2.81% |
| 8 | Stylam Industries Limited | 2.75% |
| 9 | Hero MotoCorp Limited | 2.75% |
| 10 | Dr. Reddy's Laboratories Limited | 2.61% |