Bank of India Multi Cap Fund
Direct · GrowthAI Summary
The Bank of India Multi Cap Fund has delivered a 1-year XIRR of 20.21%, outperforming the category average of 15.06% by a wide margin, and a 3-year XIRR of 13.11%, which trails the category average of 16.01%. Over the long term, the fund has consistently beaten the NIFTY 50 benchmark, with a 10-year CAGR of 7.58% versus the benchmark's 3.13%, and has shown strong alpha across all periods, including a 1-year alpha of 17.66%.
The fund exhibits moderate risk with a maximum drawdown of -20.31% and an average drawdown of -3.15%, with two drawdown events exceeding 10%. The Calmar ratio of 1.05 over 3 years indicates reasonable risk-adjusted returns, and the fund's downside capture is notably lower than its upside capture (e.g., 78.97% downside vs 102.72% upside over 1 year), suggesting it protects capital better in down markets. However, the maximum drawdown duration of 157 days and recovery period of 238 days highlight that recoveries can take time.
The fund holds a diversified portfolio of 56 stocks, with top 10 holdings accounting for about 34% of NAV, led by HDFC Bank (4.94%) and Reliance Industries (4.74%). Sector concentration is moderate, with Banks (13.4%) and Pharmaceuticals (12.4%) being the largest exposures, followed by IT, Retailing, and Construction. The mix of large caps like HDFC Bank and mid/small caps like Lloyds Metals and Stylam Industries provides a multi-cap blend, though the top holdings are relatively well-known names.
The fund's 1-year XIRR of 20.21% places it well above the category average of 15.06%, indicating strong recent performance, but its 3-year XIRR of 13.11% lags the category average of 16.01%, suggesting inconsistency over the medium term. Calendar year returns show volatility, with a stellar 43.36% in 2023 but modest 7.84% in 2025, reflecting the fund's ability to capture upswings but also underperform in certain years. The fund has consistently beaten the NIFTY 50 benchmark across all time frames, but its alpha has declined from 17.66% (1Y) to 2.86% (15Y), indicating that outperformance narrows over longer horizons.
This fund is suitable for investors with a high risk tolerance and a long-term investment horizon of at least 5-7 years, given its multi-cap nature and potential for higher volatility. It is particularly appealing for those seeking active management that can outperform the benchmark, as evidenced by its positive alpha and lower downside capture. However, investors should be comfortable with periods of underperformance relative to category peers, as seen in the 3-year XIRR, and should focus on the fund's long-term track record rather than short-term fluctuations.
- Consistent outperformance versus the NIFTY 50 benchmark across all time periods, with positive alpha ranging from 2.86% (15Y) to 17.66% (1Y).
- Strong downside protection, with downside capture ratios below 100% (e.g., 78.97% over 1Y and 86.48% over 5Y), indicating the fund loses less than the benchmark in falling markets.
- Diversified portfolio across 56 stocks and multiple sectors, reducing single-stock risk and providing exposure to various market segments.
- The 3-year XIRR of 13.11% is below the category average of 16.01%, indicating underperformance relative to peers over the medium term.
- The fund has experienced two drawdown events exceeding 10%, with a maximum drawdown of -20.31%, which may be unsettling for risk-averse investors.
Generated on 30-08-2026, 3:05 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 | 20.2% | -26.1% | 64.4% |
| 3 Years | ₹36.00 L | ₹43.69 L | 13.1% | 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 | 20.2% | 14.4% | 15.1% | +5.8% |
| 3 Years | 13.1% | 11.1% | 16.0% | +2.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 21.0% | 12.1% | -5.1% | 56.5% | 0.74 | 4.94 | 91% | — | — |
| 3 Years | 21.4% | 21.2% | 19.5% | 23.8% | 14.38 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +17.66 | 0.91 | 102.7% | 79.0% | 15.6% | -2.9% |
| 3 Years | +12.48 | 1.02 | 108.1% | 92.8% | 20.3% | 7.8% |
| 5 Years | +9.38 | 0.99 | 104.5% | 86.5% | 15.7% | 6.3% |
| 7 Years | +6.47 | 0.99 | 104.5% | 86.5% | 11.0% | 4.5% |
| 10 Years | +4.40 | 0.99 | 104.5% | 86.5% | 7.6% | 3.1% |
| 12 Years | +3.63 | 0.99 | 104.5% | 86.5% | 6.3% | 2.6% |
| 15 Years | +2.86 | 0.99 | 104.5% | 86.5% | 5.0% | 2.1% |
| # | 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% |