Baroda BNP Paribas Large and Mid Cap Fund
Direct · GrowthAI Summary
The fund has delivered strong SIP XIRR of 19.64% over 1Y and 20.11% over 3Y, outpacing the category averages of 16.54% and 17.73% respectively, though its 5Y XIRR of 15.43% trails the category's 17.26%. Against the NIFTY 50, it has generated consistent positive alpha across all periods, including 9.93% over 1Y and 8.71% over 3Y, with fund CAGR of 16.45% versus benchmark CAGR of 7.75% over 3Y. Lump-sum rolling returns are also healthy, with the 3Y rolling mean at 20.95% and 5Y at 18.47%.
The fund shows a favorable downside profile with downside capture below 100% across all periods (89.77% over 1Y, 86.86% over longer horizons), meaning it has historically fallen less than the benchmark in weak markets. Only 2 drawdown events exceeding 10% occurred, and the Calmar Ratio remains near or above 0.90 across 1Y, 3Y, and 5Y windows, indicating reasonable risk-adjusted returns. However, the maximum drawdown recovery took 350 days against a 245-day drawdown duration, so investors should be prepared for extended recovery periods after sharp corrections.
The portfolio holds 50 stocks with a well-diversified top 10, where no single holding exceeds 3.63% of NAV, limiting single-stock concentration risk. Banks is the largest sector at 20.0%, a meaningful tilt that includes Federal Bank, IndusInd Bank, and HDFC Bank, followed by Chemicals & Petrochemicals at 6.4% and Pharmaceuticals at 5.4%. Exposure spans financials, FMCG-adjacent beverages (Radico Khaitan), energy (Reliance), fintech (One 97 Communications), and capital goods (BHEL, L&T), providing breadth across market segments.
The fund beats the category average SIP XIRR over 1Y (19.64% vs 16.54%) and 3Y (20.11% vs 17.73%), but underperforms over 5Y (15.43% vs 17.26%), suggesting recent performance is stronger than its longer-term record. Its consistent positive alpha versus NIFTY 50 across 1Y through 15Y windows, ranging from 9.93% to 2.51%, points to durable stock-selection skill. Calendar year returns show strong up-years such as 44.69% in 2021 and 30.83% in 2023, but modest results in 2022 (-1.26%), 2025 (1.47%), and 2026 (1.43% year-to-date).
This fund suits investors seeking growth through large and mid-cap exposure who can tolerate meaningful interim volatility, as evidenced by drawdown events and a 350-day recovery from the maximum drawdown. A minimum investment horizon of 5 to 7 years is advisable to allow the mid-cap portion and alpha generation to compound through market cycles. It is appropriate as a core equity holding for investors with moderate-to-high risk tolerance, particularly those who value the fund's demonstrated downside protection relative to the benchmark.
- Consistent positive alpha versus NIFTY 50 across all measured periods, from 9.93% over 1Y to 2.51% over 15Y
- Downside capture consistently below 100% (86.86% to 91.88%), indicating better-than-benchmark resilience in falling markets
- SIP XIRR ahead of category averages over 1Y (19.64% vs 16.54%) and 3Y (20.11% vs 17.73%) with a competitive 0.84% expense ratio
- 5Y SIP XIRR of 15.43% trails the category average of 17.26%, indicating weaker longer-term relative performance
- 20.0% sector concentration in Banks creates meaningful exposure to financial sector cycles
- Recent calendar year returns are muted, with just 1.47% in 2025 and 1.43% in 2026 year-to-date after strong 2023-2024 gains
Generated on 11-09-2026, 3:23 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 | ₹12.68 L | 19.6% | -23.8% | 82.7% |
| 3 Years | ₹36.00 L | ₹47.25 L | 20.1% | 2.4% | 36.2% |
| 5 Years | ₹60.00 L | ₹87.99 L | 15.4% | 9.9% | 19.4% |
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 | 19.6% | 14.4% | 16.5% | +5.2% |
| 3 Years | 20.1% | 11.1% | 17.7% | +9.0% |
| 5 Years | 15.4% | 10.4% | 17.3% | +5.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.9% | 13.2% | -8.5% | 77.2% | 0.67 | 3.55 | 88% | — | — |
| 3 Years | 20.9% | 20.4% | 14.0% | 27.3% | 4.46 | — | 100% | — | — |
| 5 Years | 18.5% | 17.7% | 14.7% | 24.0% | 3.98 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +9.93 | 1.02 | 102.8% | 89.8% | 6.9% | -2.9% |
| 3 Years | +8.71 | 1.00 | 103.1% | 91.9% | 16.4% | 7.8% |
| 5 Years | +7.00 | 0.97 | 98.4% | 89.8% | 14.8% | 7.8% |
| 7 Years | +6.30 | 0.94 | 96.0% | 86.9% | 17.3% | 11.3% |
| 10 Years | +4.11 | 0.94 | 96.0% | 86.9% | 11.8% | 7.8% |
| 12 Years | +3.30 | 0.94 | 96.0% | 86.9% | 9.7% | 6.4% |
| 15 Years | +2.51 | 0.94 | 96.0% | 86.9% | 7.7% | 5.1% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | The Federal Bank Limited | 3.63% |
| 2 | Radico Khaitan Limited | 2.99% |
| 3 | IndusInd Bank Limited | 2.89% |
| 4 | Reliance Industries Limited | 2.83% |
| 5 | HDFC Bank Limited | 2.76% |
| 6 | Bharat Heavy Electricals Limited | 2.68% |
| 7 | One 97 Communications Limited | 2.64% |
| 8 | Larsen & Toubro Limited | 2.52% |
| 9 | Navin Fluorine International Limited | 2.51% |
| 10 | Bharti Airtel Limited | 2.43% |