HDFC Large and Mid Cap Fund
Direct · GrowthAI Summary
HDFC Large and Mid Cap Fund has delivered strong long-term returns, with SIP XIRR of 17.11% over 5 years and 18.37% over 10 years. It has consistently outperformed the NIFTY 50 on a lump-sum basis, with fund CAGR of 16.32% versus 7.83% for the benchmark over 5 years and positive alpha across all periods from 1Y to 15Y. However, its SIP XIRR trails the category average across most horizons, including 16.71% versus 17.73% over 3 years and 17.11% versus 17.26% over 5 years.
The fund shows a favorable risk profile with a maximum drawdown of just -0.39% over 66 days and a recovery period of 245 days, though it has experienced 6 drawdown events exceeding 10%. Beta has stayed near or below 1 across all periods, and downside capture of 91-95% versus upside capture of 99-105% indicates it falls less than the benchmark in weak markets while keeping pace in rallies. Calmar ratios of roughly 0.38-0.40 across 1Y to 10Y horizons reflect steady risk-adjusted returns.
The portfolio is well diversified across 230 holdings, with the top 10 positions accounting for only about 19.6% of NAV and the largest holding, ICICI Bank, at just 3.77%. Banks dominate at 16.9% of the portfolio, followed by Pharmaceuticals at 11.0% and Finance at 8.4%, with meaningful exposure to IT, auto components, telecom, and healthcare. This broad, moderately concentrated structure reduces single-stock risk while retaining exposure to India's core financial sector.
Against category peers, the fund lags slightly on SIP XIRR at shorter horizons, such as 15.90% versus 16.54% over 1 year and 16.71% versus 17.73% over 3 years, but narrows the gap over longer periods. Its consistency is a highlight, with rolling 1Y returns averaging 15.31% and rolling returns remaining above 15% across 1Y to 10Y windows. The persistent positive alpha versus NIFTY 50 across every measured period underscores durable stock-selection performance.
This fund suits investors seeking long-term capital appreciation through a blend of large-cap stability and mid-cap growth, with a recommended horizon of at least 5-7 years. Its moderate beta and strong downside capture make it appropriate for investors with moderate-to-high risk tolerance who want equity growth without extreme volatility. SIP investors should note the slight category underperformance and consider it as part of a diversified equity allocation rather than a standalone holding.
- Consistent positive alpha versus NIFTY 50 across all periods, including 8.50% over 5 years and 7.97% over 7 years
- Favorable downside capture of 91-95% with near-1 or below-1 beta, indicating resilience in falling markets
- Highly diversified portfolio of 230 holdings with the top 10 positions at only ~19.6% of NAV
- SIP XIRR trails the category average across most horizons, including 16.71% versus 17.73% over 3 years
- Six drawdown events exceeding 10% and a 245-day recovery from maximum drawdown highlight meaningful interim volatility
Generated on 06-09-2026, 7:53 PM. 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 | 15.9% | -61.4% | 110.9% |
| 3 Years | ₹36.00 L | ₹46.25 L | 16.7% | -25.4% | 40.6% |
| 5 Years | ₹60.00 L | ₹94.64 L | 17.1% | -12.3% | 33.5% |
| 7 Years | ₹84.00 L | ₹1.62 Cr | 19.1% | 11.4% | 26.8% |
| 10 Years | ₹1.20 Cr | ₹3.13 Cr | 18.4% | 14.8% | 21.2% |
| 12 Years | ₹1.44 Cr | ₹3.86 Cr | 15.5% | 14.9% | 16.0% |
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 | 15.9% | 14.4% | 16.5% | +1.5% |
| 3 Years | 16.7% | 11.1% | 17.7% | +5.6% |
| 5 Years | 17.1% | 10.4% | 17.3% | +6.7% |
| 7 Years | 19.1% | 10.6% | 16.6% | +8.6% |
| 10 Years | 18.4% | 11.5% | 16.8% | +6.9% |
| 12 Years | 15.5% | 11.4% | 16.5% | +4.2% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.3% | 9.1% | -36.2% | 105.2% | 0.40 | 1.18 | 80% | — | — |
| 3 Years | 15.8% | 16.9% | -8.9% | 39.1% | 0.99 | 3.81 | 95% | — | — |
| 5 Years | 15.7% | 15.0% | -4.2% | 34.6% | 1.15 | 5.59 | 98% | — | — |
| 10 Years | 15.0% | 15.2% | 12.2% | 17.6% | 8.99 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.24 | 1.05 | 105.4% | 94.6% | 4.8% | -2.9% |
| 3 Years | +7.77 | 1.03 | 104.9% | 95.3% | 15.6% | 7.8% |
| 5 Years | +8.50 | 1.00 | 101.5% | 91.3% | 16.3% | 7.8% |
| 7 Years | +7.97 | 0.95 | 99.5% | 91.5% | 19.5% | 11.8% |
| 10 Years | +4.43 | 0.96 | 99.3% | 94.4% | 15.0% | 10.8% |
| 12 Years | +3.52 | 0.97 | 99.4% | 95.5% | 13.2% | 9.8% |
| 15 Years | +2.68 | 0.97 | 99.3% | 95.4% | 10.6% | 8.0% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 3.79% |
| 2 | HDFC Bank Ltd.£ | 3.43% |
| 3 | Axis Bank Ltd. | 1.95% |
| 4 | Bharti Airtel Ltd. | 1.74% |
| 5 | State Bank of India | 1.47% |
| 6 | Reliance Industries Ltd. | 1.44% |
| 7 | Fortis Healthcare Limited | 1.42% |
| 8 | Prestige Estates Projects Ltd. | 1.35% |
| 9 | Max Financial Services Ltd. | 1.35% |
| 10 | Gland Pharma Ltd. | 1.33% |