Franklin India Flexi Cap Fund
Direct · GrowthAI Summary
Franklin India Flexi Cap Fund has delivered strong SIP returns, with XIRR of 16.32% over 3Y and 15.87% over 5Y, outpacing category averages of 14.89% and 15.64% respectively. Against the NIFTY 50, the fund has generated consistent alpha of 5.90% over 3Y and 5.91% over 5Y, with fund CAGR of 13.61% and 13.68% versus benchmark CAGR of 7.75% and 7.83%. Long-term performance is equally impressive, with 12Y XIRR of 16.31% versus the category average of 15.40%.
The fund shows a beta below 1 across all periods (0.91-0.99), indicating lower volatility than the NIFTY 50, with downside capture consistently under 96% (as low as 86.53% over 15Y) while upside capture remains near 93-100%. The maximum drawdown of -37.72% took 570 days with a 232-day recovery, and 7 drawdown events exceeding 10% reflect typical equity risk. Calmar ratios of 0.42-0.50 across periods suggest reasonable risk-adjusted returns given the drawdown profile.
The portfolio is heavily weighted toward banks, which occupy the top three positions (HDFC Bank 7.25%, ICICI Bank 6.54%, Axis Bank 5.02%) and total 25.2% of the fund across five bank holdings. With 55 total holdings, diversification at the stock level is reasonable, and the top 10 holdings account for roughly 43% of NAV. Beyond banks, exposure spreads across construction (L&T 3.73%), telecom (Bharti Airtel 3.42%), petroleum (Reliance 3.01%), and automobiles (M&M 2.97%).
The fund beats the category average SIP XIRR across most horizons — 3Y XIRR of 16.32% versus 14.89% and 7Y XIRR of 16.02% versus 15.57% — though the 10Y XIRR of 16.79% is only marginally ahead of the category's 16.09%. Calendar year returns show strong consistency, with positive years in 12 of the last 14 and standout performances in 2014 (57.77%), 2021 (40.59%), and 2023 (31.41%). This long track record of alpha generation (positive alpha in every period from 1Y to 15Y) positions it among the more reliable flexi cap performers.
This fund suits investors seeking long-term wealth creation through SIPs with a horizon of at least 5-7 years, given its demonstrated alpha over extended periods and the 570-day max drawdown duration requiring patience. It is appropriate for moderate-to-high risk tolerance investors who can withstand drawdowns exceeding 35% during market stress. As a core flexi cap holding, it offers actively managed diversification with below-benchmark volatility, making it suitable for a significant allocation within an equity portfolio.
- Consistent alpha generation versus NIFTY 50 across all time horizons, ranging from 2.99% (1Y) to 6.31% (7Y)
- SIP XIRR beats category averages at 1Y, 3Y, 5Y, 7Y, and 12Y horizons, demonstrating sustained peer outperformance
- Favorable capture ratios with downside capture below 92% in most periods while maintaining near-parity upside capture, indicating defensive characteristics
- Heavy sector concentration in banks at 25.2% of NAV, with the top three holdings all being private banks, creating vulnerability to banking sector downturns
- Maximum drawdown of -37.72% with a lengthy 570-day drawdown duration and 7 drawdown events exceeding 10%, highlighting significant downside risk during market stress
Generated on 04-09-2026, 2:50 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 | ₹12.74 L | 19.7% | -58.4% | 113.7% |
| 3 Years | ₹36.00 L | ₹45.82 L | 16.3% | -24.2% | 38.6% |
| 5 Years | ₹60.00 L | ₹90.62 L | 15.9% | -10.9% | 31.1% |
| 7 Years | ₹84.00 L | ₹1.49 Cr | 16.0% | -2.0% | 25.0% |
| 10 Years | ₹1.20 Cr | ₹2.89 Cr | 16.8% | 13.7% | 20.3% |
| 12 Years | ₹1.44 Cr | ₹4.14 Cr | 16.3% | 13.6% | 19.0% |
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 | 19.7% | 14.4% | 15.6% | +5.4% |
| 3 Years | 16.3% | 11.1% | 14.9% | +5.2% |
| 5 Years | 15.9% | 10.4% | 15.6% | +5.5% |
| 7 Years | 16.0% | 10.6% | 15.6% | +5.5% |
| 10 Years | 16.8% | 11.5% | 16.1% | +5.3% |
| 12 Years | 16.3% | 11.4% | 15.4% | +4.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.0% | 12.3% | -35.2% | 105.0% | 0.56 | 2.04 | 85% | — | — |
| 3 Years | 16.8% | 18.0% | -8.6% | 36.8% | 1.29 | 4.83 | 96% | — | — |
| 5 Years | 15.9% | 15.4% | -1.9% | 32.8% | 1.52 | 9.84 | 100% | — | — |
| 10 Years | 16.2% | 15.8% | 13.2% | 19.4% | 6.07 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.99 | 0.99 | 99.7% | 95.9% | 0.2% | -2.9% |
| 3 Years | +5.90 | 0.97 | 99.1% | 91.5% | 13.6% | 7.8% |
| 5 Years | +5.91 | 0.95 | 96.9% | 89.5% | 13.7% | 7.8% |
| 7 Years | +6.31 | 0.93 | 96.6% | 90.2% | 17.7% | 11.8% |
| 10 Years | +3.24 | 0.93 | 95.1% | 91.1% | 13.7% | 10.8% |
| 12 Years | +5.00 | 0.91 | 94.2% | 88.2% | 14.5% | 9.8% |
| 15 Years | +4.59 | 0.90 | 92.6% | 86.5% | 14.0% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd | 6.67% |
| 2 | HDFC Bank Ltd ! ~~ | 6.21% |
| 3 | Axis Bank Ltd | 5.24% |
| 4 | Larsen & Toubro Ltd | 3.86% |
| 5 | State Bank of India !! ~~ | 3.56% |
| 6 | Kotak Mahindra Bank Ltd ! ^ | 3.22% |
| 7 | Mahindra & Mahindra Ltd | 3.22% |
| 8 | Bharti Airtel Ltd | 3.16% |
| 9 | Eternal Ltd | 3.08% |
| 10 | Reliance Industries Ltd ^ ~~ | 2.96% |