Helios Flexi Cap Fund

Helios Flexi Cap Fund has delivered strong lump-sum point-to-point returns versus the NIFTY 50, with a 3Y Fund CAGR of 14.62% against the benchmark's 4.45% and a 3Y alpha of 10.32%. However, on a SIP basis the fund lags its category, with a 3Y XIRR of 7.96% versus the category average of 14.86% and a 1Y XIRR of 8.92% versus 9.64%. Recent calendar-year returns have also softened, with 2026 at -0.9% after a strong 29.78% in 2024.

The fund shows a shallow maximum drawdown of -0.18% with a 74-day drawdown duration and 145-day recovery, indicating limited recent capital loss. Beta of 1.07-1.10 versus the NIFTY 50 means it moves slightly more than the market, while downside capture of 96.3-96.51% shows it has historically lost less than the benchmark in falling markets. The 1Y Calmar ratio of 0.61 reflects moderate risk-adjusted efficiency given the recent muted returns.

The portfolio holds 64 stocks with a well-diversified top 10 capped at 4.16% (Adani Ports), followed by HDFC Bank at 4.0% and ICICI Bank at 3.96%. Financials dominate, with Banks at 11.5%, Capital Markets at 10.9%, and Finance at 8.5%, meaning roughly 31% of the fund is in financial-sector exposure. Other notable positions include Reliance Industries (3.03%), Adani Enterprises (2.54%), and One 97 Communications (2.48%), adding exposure to energy, infrastructure, and fintech themes.

On lump-sum CAGR the fund has consistently beaten the NIFTY 50 across 3Y to 15Y windows with positive alpha at every horizon, though alpha narrows from 10.32% at 3Y to 2.30% at 15Y. On SIP XIRR, however, it trails category averages meaningfully — 7.96% versus 14.86% at 3Y and 8.92% versus 9.64% at 1Y. This suggests recent SIP investors have experienced weaker entry points than the category norm, and consistency versus peers is currently mixed.

This fund suits investors with a long-term horizon of 5-7 years or more who want flexi-cap diversification and can tolerate moderate volatility, given its beta above 1 and financial-sector concentration. It is attractive for lump-sum-oriented investors seeking benchmark outperformance with downside capture below 100%. SIP investors should be aware that recent SIP returns have trailed the category and evaluate whether the current soft patch fits their expectations.

• Strong benchmark outperformance with 3Y Fund CAGR of 14.62% versus NIFTY 50's 4.45% and alpha of 10.32%
• Downside capture below 100% (96.3% at 3Y) indicates better-than-benchmark loss protection in weak markets
• Diversified 64-stock portfolio with no single holding above 4.16% of NAV

• SIP XIRR significantly trails category averages — 7.96% versus 14.86% at 3Y and 8.92% versus 9.64% at 1Y
• Heavy financial-sector concentration of roughly 31% across Banks, Capital Markets, and Finance creates sector-specific risk