Baroda BNP Paribas Manufacturing Fund
Direct · GrowthAI Summary
Baroda BNP Paribas Manufacturing Fund delivered a 1Y SIP XIRR of 14.57%, ahead of the category average of 10.69%, and posted a 1Y alpha of 13.45% against the NIFTY 50, whose CAGR was -11.43%. However, lump-sum performance over longer horizons is modest, with a 5Y CAGR of just 0.99% versus a benchmark CAGR of -1.19%, indicating the fund has beaten a weak benchmark rather than generated strong absolute returns. Calendar year returns have been uneven, ranging from -5.41% in 2024 to 8.43% in 2025.
The fund exhibits defensive characteristics with a beta of 0.85-0.88 and a downside capture of 75-84%, meaning it falls less than the NIFTY 50 in declining markets. It has experienced 2 drawdown events exceeding 10%, with the maximum drawdown lasting 154 days and taking 308 days to recover, which signals meaningful recovery risk. The 1Y Calmar ratio of 0.4678 suggests moderate risk-adjusted returns relative to drawdown severity.
Detailed holdings and sector allocation data were not provided, so top holdings and concentration levels cannot be assessed from the available information. As a sectoral/thematic fund focused on manufacturing, investors should expect concentrated sector exposure by design rather than broad diversification. Reviewing the actual portfolio for single-stock and single-sector concentration is recommended before investing.
The fund's 1Y SIP XIRR of 14.57% outpaces the category average of 10.69%, showing recent relative strength among sectoral/thematic peers. Longer-horizon category averages (3Y: 16.26%, 5Y: 17.47%) are not directly comparable to the fund's lump-sum CAGRs, so a like-for-like long-term SIP comparison is not possible from the data provided. Consistency has been mixed, with a negative calendar year return in 2024 (-5.41%) alongside positive years in 2025 and 2026.
This fund suits investors with high risk tolerance seeking tactical exposure to India's manufacturing theme, not core portfolio holdings. A horizon of at least 5-7 years is advisable given sectoral cyclicality and the fund's history of extended drawdown recoveries. Investors should cap allocation to a small satellite portion of their portfolio and be comfortable with periods of underperformance.
- 1Y SIP XIRR of 14.57% comfortably exceeds the category average of 10.69%
- Strong 1Y alpha of 13.45% versus the NIFTY 50, aided by a downside capture of only 75.11%
- Low beta of 0.85-0.88 provides cushioning during market declines
- Weak long-term lump-sum returns, with a 5Y CAGR of just 0.99% and alpha shrinking to -0.1235% over 15Y
- Two drawdown events exceeding 10%, with the worst recovery taking 308 days after a 154-day drawdown
- Concentrated sectoral/thematic exposure to manufacturing carries elevated cyclicality risk
Generated on 21-10-2026, 3:09 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 | 13.8% | -9.4% | 27.1% |
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 | 13.8% | 14.3% | 10.6% | -0.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 10.2% | 10.8% | -6.0% | 29.8% | 0.44 | 0.93 | 81% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +11.07 | 0.86 | 95.0% | 78.8% | 1.4% | -12.4% |
| 3 Years | +1.72 | 0.88 | 90.3% | 85.4% | 0.6% | -2.2% |
| 5 Years | +0.72 | 0.88 | 90.3% | 85.4% | 0.3% | -1.3% |
| 7 Years | +0.29 | 0.88 | 90.3% | 85.4% | 0.3% | -0.9% |
| 10 Years | -0.02 | 0.88 | 90.3% | 85.4% | 0.2% | -0.7% |
| 12 Years | -0.15 | 0.88 | 90.3% | 85.4% | 0.1% | -0.6% |
| 15 Years | -0.28 | 0.88 | 90.3% | 85.4% | 0.1% | -0.4% |