Franklin India Large Cap Fund
Direct · GrowthAI Summary
Franklin India Large Cap Fund has delivered consistent alpha over the NIFTY 50 across all periods, with 3Y fund CAGR of 8.94% versus the benchmark's 5.44% and alpha ranging from 0.43% (10Y) to 3.43% (3Y). On the primary SIP metric, its 1Y XIRR of 7.79% slightly beats the category average of 7.75%, but longer-term XIRRs lag peers — 3Y at 13.27% vs 13.99% and 10Y at 13.01% vs 14.24%. Overall, the fund is a benchmark-beater but a modest category underperformer over longer horizons.
The fund shows defensive characteristics with beta below 1 across all periods (0.92-0.96) and downside capture consistently under 94%, meaning it falls less than the index in declines. It has experienced 9 drawdown events exceeding 10%, with the maximum drawdown of -36.25% taking 232 days to recover, indicating meaningful downside exposure despite controlled relative risk. Calmar ratios of roughly 0.33-0.40 across horizons suggest moderate risk-adjusted returns.
The portfolio is concentrated in financials, with Banks alone at 26.7% and the top four holdings (ICICI Bank 9.64%, HDFC Bank 6.59%, Kotak Mahindra Bank 5.63%, SBI 4.72%) all from the banking sector. With only 34 total holdings, the fund is fairly focused, and the top 10 positions account for roughly 55.8% of NAV. Diversification across retailing (6.3%), automobiles (6.1%), IT (5.9%), and insurance (5.7%) provides some balance beyond financials.
The fund trails category average SIP XIRR at every horizon beyond 1 year, with gaps of 0.72% (3Y), 0.70% (5Y), and 1.23% (10Y), suggesting peers have captured stronger SIP outcomes. However, its calendar-year record shows reasonable consistency, with positive returns in 11 of the last 14 years including 22.06% in 2023 and 17.14% in 2024. Its persistent alpha versus NIFTY 50 indicates skillful stock selection even if not category-leading.
This fund suits investors seeking large-cap core exposure with below-market volatility and a long-term horizon of 7-10 years, given its steady 12-13% SIP XIRR over extended periods. It is appropriate for moderate risk tolerance investors who value downside protection (downside capture around 91-93%) over maximum upside participation. Investors prioritizing top-of-category SIP returns may find better alternatives, but those wanting benchmark-beating consistency should consider it.
- Consistent positive alpha versus NIFTY 50 across all measured periods, ranging from 0.43% (10Y) to 3.43% (3Y)
- Defensive profile with beta below 1 and downside capture of 90-93%, cushioning losses in market declines
- Long-term SIP XIRR of 12.65-13.65% over 3-12 year horizons, demonstrating durable compounding
- SIP XIRR trails the category average at every horizon beyond 1 year, including a 1.23% gap at 10Y (13.01% vs 14.24%)
- Heavy banking concentration of 26.7% in a single sector, with four of the top five holdings being banks
- Maximum drawdown of -36.25% with a lengthy 232-day recovery and 9 drawdown events exceeding 10%
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 | ₹12.62 L | 15.1% | -56.6% | 112.0% |
| 3 Years | ₹36.00 L | ₹43.55 L | 12.7% | -22.7% | 33.0% |
| 5 Years | ₹60.00 L | ₹83.25 L | 12.4% | -10.2% | 24.1% |
| 7 Years | ₹84.00 L | ₹1.32 Cr | 12.7% | -3.1% | 19.6% |
| 10 Years | ₹1.20 Cr | ₹2.37 Cr | 13.0% | 10.0% | 16.4% |
| 12 Years | ₹1.44 Cr | ₹3.29 Cr | 12.7% | 10.1% | 14.8% |
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 | 15.1% | 14.3% | 7.7% | +0.9% |
| 3 Years | 12.7% | 11.0% | 14.0% | +1.7% |
| 5 Years | 12.4% | 10.4% | 14.3% | +2.1% |
| 7 Years | 12.7% | 10.6% | 14.0% | +2.1% |
| 10 Years | 13.0% | 11.4% | 14.2% | +1.6% |
| 12 Years | 12.7% | 11.3% | 13.8% | +1.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 14.5% | 9.9% | -33.2% | 97.8% | 0.43 | 1.26 | 81% | — | — |
| 3 Years | 13.0% | 13.5% | -8.0% | 30.0% | 1.13 | 3.11 | 96% | — | — |
| 5 Years | 12.5% | 12.8% | -2.0% | 26.3% | 1.30 | 5.95 | 99% | — | — |
| 10 Years | 12.6% | 12.5% | 10.1% | 14.9% | 5.45 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +3.58 | 0.96 | 97.4% | 91.9% | -6.6% | -10.9% |
| 3 Years | +3.70 | 0.93 | 95.1% | 90.0% | 10.1% | 6.4% |
| 5 Years | +1.42 | 0.93 | 93.1% | 90.7% | 6.7% | 5.2% |
| 7 Years | +2.68 | 0.93 | 95.2% | 92.0% | 12.4% | 10.0% |
| 10 Years | +0.53 | 0.93 | 94.4% | 93.4% | 10.6% | 10.3% |
| 12 Years | +1.60 | 0.92 | 93.6% | 91.3% | 10.4% | 9.0% |
| 15 Years | +1.49 | 0.92 | 93.1% | 90.8% | 10.7% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd | 9.64% |
| 2 | HDFC Bank Ltd | 6.59% |
| 3 | Mahindra & Mahindra Ltd | 6.06% |
| 4 | Kotak Mahindra Bank Ltd | 5.63% |
| 5 | Larsen & Toubro Ltd | 5.06% |
| 6 | State Bank of India | 4.72% |
| 7 | Bajaj Finserv Ltd | 4.15% |
| 8 | Torrent Pharmaceuticals Ltd | 4.10% |
| 9 | Reliance Industries Ltd | 3.92% |
| 10 | Bharti Airtel Ltd | 3.92% |