Franklin India Flexi Cap Fund
Direct · GrowthAI Summary
Franklin India Flexi Cap Fund has delivered a 3Y SIP XIRR of 17.19% and 5Y SIP XIRR of 17.71%, outpacing the category averages of 14.77% and 16.09% respectively. Over longer horizons, the fund's 10Y and 12Y SIP XIRR of 16.67% and 15.99% also beat category averages of 15.97% and 15.17%. Against the NIFTY 50, the fund has generated consistent positive alpha across all periods, including 3.96% over 3Y and 4.56% over 5Y.
The fund exhibits defensive characteristics with a beta below 1 across all periods (0.91 to 0.98) and downside capture consistently below upside capture — for example, 97.07% upside versus 92.03% downside over 3Y. It has experienced 7 drawdown events greater than 10%, with the maximum drawdown lasting 570 days and taking 232 days to recover. Calmar ratios between 0.40 and 0.49 across horizons indicate reasonable risk-adjusted returns relative to peak-to-trough losses.
The portfolio is diversified across 56 holdings, with the top 10 positions comprising roughly 36.9% of NAV. Banks dominate with 23.5% sector allocation, and four of the top five holdings are banks (ICICI Bank at 6.46%, Axis Bank at 5.27%, HDFC Bank at 5.24%, and SBI at 3.43%). Beyond financials, the fund holds meaningful positions in telecom (Bharti Airtel), retailing (Eternal), construction (L&T), and automobiles (M&M), providing some sector balance.
The fund has outperformed the category average SIP XIRR across every measured horizon from 1Y to 12Y, with the widest gap at 3Y (17.19% vs 14.77%, a 2.42 percentage point lead). Calendar year returns show strong consistency in positive years, including 31.41% in 2023 and 22.5% in 2024, though 2026 has seen a -10.74% decline. This long-term consistency across multiple horizons suggests durable stock selection rather than a single-period fluke.
This fund suits investors seeking a core flexi cap allocation with a long-term horizon of 7 years or more, given its demonstrated outperformance over extended periods. Its below-1 beta and lower downside capture make it relatively suitable for moderate risk tolerance investors who still want full equity exposure. SIP investors benefit most, as the fund's XIRR consistently exceeds both category averages and benchmark returns.
- Consistent alpha generation versus NIFTY 50 across all periods, ranging from 1.80% (1Y) to 5.80% (7Y)
- SIP XIRR beats category averages at every horizon from 1Y through 12Y, with a 2.42 percentage point lead at 3Y
- Favorable asymmetry with downside capture below upside capture in every period (e.g., 88.52% downside vs 93.62% upside over 12Y)
- Heavy banking sector concentration at 23.5% of the portfolio, with four of the top five holdings in banks, exposing investors to financial sector downturns
- Recent performance has weakened, with a -10.74% calendar year return in 2026 and a modest 1Y SIP XIRR of 9.17% that trails the category average of 9.54%
Generated on 27-10-2026, 2:14 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 | ₹12.71 L | 19.3% | -58.4% | 113.7% |
| 3 Years | ₹36.00 L | ₹45.75 L | 16.0% | -24.2% | 38.6% |
| 5 Years | ₹60.00 L | ₹90.31 L | 15.7% | -10.9% | 31.1% |
| 7 Years | ₹84.00 L | ₹1.48 Cr | 16.0% | -2.0% | 25.0% |
| 10 Years | ₹1.20 Cr | ₹2.88 Cr | 16.6% | 13.1% | 20.3% |
| 12 Years | ₹1.44 Cr | ₹4.10 Cr | 16.0% | 12.9% | 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 | 19.3% | 14.3% | 9.5% | +5.1% |
| 3 Years | 16.0% | 11.0% | 14.7% | +5.0% |
| 5 Years | 15.7% | 10.4% | 16.1% | +5.4% |
| 7 Years | 16.0% | 10.6% | 15.5% | +5.4% |
| 10 Years | 16.6% | 11.4% | 16.0% | +5.2% |
| 12 Years | 16.0% | 11.3% | 15.2% | +4.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.6% | 11.9% | -35.2% | 105.0% | 0.54 | 1.94 | 84% | — | — |
| 3 Years | 16.6% | 17.8% | -8.6% | 36.8% | 1.28 | 4.82 | 96% | — | — |
| 5 Years | 15.8% | 15.1% | -1.9% | 32.8% | 1.51 | 9.84 | 100% | — | — |
| 10 Years | 16.0% | 15.7% | 12.5% | 19.4% | 5.61 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.58 | 0.98 | 96.8% | 94.4% | -8.9% | -10.9% |
| 3 Years | +4.00 | 0.97 | 96.8% | 91.5% | 10.4% | 6.4% |
| 5 Years | +4.45 | 0.95 | 95.8% | 90.0% | 9.7% | 5.2% |
| 7 Years | +5.97 | 0.93 | 96.2% | 89.9% | 15.7% | 10.0% |
| 10 Years | +2.79 | 0.93 | 94.7% | 91.3% | 12.8% | 10.3% |
| 12 Years | +4.23 | 0.91 | 93.6% | 88.5% | 13.0% | 9.0% |
| 15 Years | +4.42 | 0.90 | 92.4% | 86.6% | 13.5% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd | 6.46% |
| 2 | Axis Bank Ltd !! ~~ | 5.27% |
| 3 | HDFC Bank Ltd # ~~ | 5.24% |
| 4 | Larsen & Toubro Ltd $$ ~~ | 3.82% |
| 5 | State Bank of India ^ ~~ | 3.43% |
| 6 | Bharti Airtel Ltd | 3.32% |
| 7 | Eternal Ltd | 3.20% |
| 8 | Kotak Mahindra Bank Ltd ! ~~ | 3.12% |
| 9 | Mahindra & Mahindra Ltd | 3.09% |
| 10 | Reliance Industries Ltd $ ^ ~ ~ | 2.93% |