DSP Focused Fund
Direct · GrowthAI Summary
DSP Focused Fund has delivered a 10Y SIP XIRR of 14.15% and a 12Y SIP XIRR of 14.30%, though these trail the category average SIP XIRR of 15.79% and 15.27% respectively. Against the NIFTY 50, the fund shows consistent outperformance, with a 3Y lump-sum CAGR of 15.59% versus the benchmark's 7.75% and positive alpha across all periods from 1Y (8.96%) to 15Y (2.58%). Recent 1Y performance of 17.60% XIRR is broadly in line with the category average of 17.03%.
The fund exhibits a beta below 1 across all periods (0.90 to 0.98) and consistently lower downside capture (86.41% to 91.93%) than upside capture, indicating better-than-benchmark protection in falling markets. The maximum drawdown of -0.39% with a 66-day duration and 245-day recovery suggests contained peak-to-trough losses in the measured window, though 10 drawdown events exceeding 10% highlight that meaningful interim declines have occurred historically. Calmar ratios between 0.33 and 0.42 across horizons reflect moderate risk-adjusted efficiency.
The portfolio is concentrated by design, holding just 27 stocks with the top 10 accounting for roughly 48% of NAV. Financials dominate, with Banks at 24.9% and Finance at 9.8% — a combined 34.7% — led by ICICI Bank (9.02%), HDFC Bank (7.08%), and Axis Bank (5.22%). Remaining exposure is spread across IT-Software (8.7%), Industrial Products (5.1%), and Consumer Durables (4.7%), offering some diversification beyond financials.
The fund lags category average SIP XIRR across most horizons — for example, 13.59% vs 15.29% over 5Y and 14.15% vs 15.79% over 10Y — suggesting peers have delivered stronger SIP outcomes. However, its lump-sum performance versus the NIFTY 50 is strong, with positive alpha in every measured period and downside capture consistently under 92%. Calendar year returns show reasonable consistency, with only three negative years since 2013 (2013, 2018, 2022) and the worst at -4.39%.
This fund suits investors seeking a concentrated, large-cap-tilted equity portfolio with active stock selection and a long-term horizon of 7 years or more. Its below-1 beta and lower downside capture make it relatively resilient in market corrections, but investors should be comfortable with financial-sector concentration of nearly 35%. It is appropriate for those with moderate-to-high risk tolerance who prioritize benchmark outperformance over category-leading SIP returns.
- Consistent positive alpha versus NIFTY 50 across all periods, including 7.88% over 3Y and 3.50% over 12Y
- Downside capture below 92% in every period combined with near-par or better upside capture, indicating favorable asymmetry in market moves
- Disciplined 27-stock focused portfolio with strong long-term lump-sum CAGR of 13.11% over 12Y versus the benchmark's 9.79%
- SIP XIRR trails the category average across all horizons, including 14.15% vs 15.79% over 10Y and 13.59% vs 15.29% over 5Y
- Heavy sector concentration in financials, with Banks (24.9%) and Finance (9.8%) together comprising 34.7% of the portfolio
Generated on 03-09-2026, 3:08 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 | 17.6% | -57.6% | 80.7% |
| 3 Years | ₹36.00 L | ₹44.22 L | 14.2% | -20.8% | 33.4% |
| 5 Years | ₹60.00 L | ₹83.84 L | 13.6% | -8.6% | 26.1% |
| 7 Years | ₹84.00 L | ₹1.36 Cr | 13.6% | -0.9% | 21.3% |
| 10 Years | ₹1.20 Cr | ₹2.53 Cr | 14.2% | 10.1% | 17.7% |
| 12 Years | ₹1.44 Cr | ₹3.61 Cr | 14.3% | 11.6% | 16.4% |
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 | 17.6% | 14.4% | 17.0% | +3.2% |
| 3 Years | 14.2% | 11.1% | 16.4% | +3.1% |
| 5 Years | 13.6% | 10.4% | 15.3% | +3.2% |
| 7 Years | 13.6% | 10.6% | 15.2% | +3.0% |
| 10 Years | 14.2% | 11.5% | 15.8% | +2.7% |
| 12 Years | 14.3% | 11.4% | 15.3% | +2.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 16.6% | 12.7% | -29.0% | 86.4% | 0.52 | 1.64 | 80% | — | — |
| 3 Years | 14.5% | 15.2% | -6.6% | 29.3% | 1.34 | 5.14 | 98% | — | — |
| 5 Years | 13.6% | 13.7% | -1.1% | 27.6% | 1.54 | 9.55 | 100% | — | — |
| 10 Years | 14.0% | 13.7% | 11.1% | 16.9% | 5.62 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.96 | 0.98 | 100.5% | 87.8% | 6.2% | -2.9% |
| 3 Years | +7.88 | 0.97 | 99.9% | 89.9% | 15.6% | 7.8% |
| 5 Years | +4.04 | 0.90 | 92.0% | 86.4% | 11.7% | 7.8% |
| 7 Years | +3.94 | 0.93 | 91.7% | 86.8% | 15.4% | 11.8% |
| 10 Years | +1.92 | 0.95 | 94.7% | 91.9% | 12.5% | 10.8% |
| 12 Years | +3.50 | 0.95 | 95.0% | 90.4% | 13.1% | 9.8% |
| 15 Years | +2.58 | 0.94 | 94.8% | 91.1% | 12.1% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 9.02% |
| 2 | HDFC Bank Limited | 7.08% |
| 3 | Axis Bank Limited | 5.22% |
| 4 | SBI Life Insurance Company Limited | 4.35% |
| 5 | Bharti Airtel Limited | 4.32% |
| 6 | Cholamandalam Investment and Finance Company Limited | 3.82% |
| 7 | IPCA Laboratories Limited | 3.70% |
| 8 | The Phoenix Mills Limited | 3.67% |
| 9 | Bajaj Finance Limited | 3.59% |
| 10 | State Bank of India | 3.53% |