HSBC India Export Opportunities Fund
Direct · GrowthAI Summary
HSBC India Export Opportunities Fund delivered a 1Y SIP XIRR of 11.05%, which trails the thematic category average of 15.91% by nearly 4.9 percentage points. Its 1Y rolling return mean of 8.18% (lump-sum) also indicates muted performance across rolling windows. Calendar year returns show inconsistency, with 17.22% in 2026 but only 1.71% in 2025 and 0.6% in 2024.
The fund's maximum drawdown of just -0.21% with a 117-day duration and 395-day recovery suggests limited severe downside in the measured period, with only one drawdown event exceeding 10%. However, the 1Y Calmar Ratio of 0.3981 indicates modest risk-adjusted returns relative to the drawdown experienced. Investors should note that thematic funds can carry higher concentration risk than the drawdown history alone suggests.
The top holding, Avalon Technologies, accounts for 7.42% of NAV, followed by Pearl Global Industries at 5.17%, with the top 10 holdings representing roughly 37.7% across 47 total positions. Sector allocation is led by Electrical Equipment (13.6%), Pharmaceuticals (12.0%), and Textiles & Apparels (9.2%), reflecting the export-oriented theme. Diversification is reasonable at the stock level, but the thematic mandate naturally concentrates exposure in export-linked sectors.
The fund's 1Y XIRR of 11.05% underperforms the category average of 15.91%, placing it in the lower half of thematic peers. Calendar year returns of 0.6% (2024), 1.71% (2025), and 17.22% (2026) show uneven consistency, with strong recent performance following two weak years. The 1.04% expense ratio is a factor to monitor against peers in the category.
This fund suits investors with a high risk tolerance seeking targeted exposure to India's export-driven sectors such as electronics, textiles, and pharmaceuticals. A time horizon of at least 5-7 years is advisable given the thematic concentration and uneven year-to-year returns. It should be treated as a satellite holding within a diversified portfolio rather than a core equity allocation.
- Strong 2026 performance of 17.22% signals a potential turnaround after two weak calendar years
- Well-diversified stock portfolio with 47 holdings and a top-10 concentration of roughly 38% of NAV
- Low maximum drawdown of -0.21% in the measured period indicates contained downside so far
- 1Y SIP XIRR of 11.05% significantly lags the category average of 15.91%
- Weak calendar year returns in 2024 (0.6%) and 2025 (1.71%) highlight inconsistency
- Thematic concentration in export-linked sectors such as Electrical Equipment (13.6%) and Textiles (9.2%) adds cyclicality risk
Generated on 09-09-2026, 3:33 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 | ₹12.60 L | 11.0% | -16.9% | 39.4% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | Category avg |
|---|---|---|
| 1 Year | 11.0% | 15.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 8.2% | 9.0% | -3.4% | 25.6% | 0.26 | 0.50 | 89% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | AVALON TECHNOLOGIES LIMITED | 7.42% |
| 2 | Pearl Global Industries Limited | 5.17% |
| 3 | Hindalco Industries Limited | 3.97% |
| 4 | Divi''s Laboratories Limited | 3.87% |
| 5 | Reliance Industries Limited | 3.46% |
| 6 | Larsen & Toubro Limited | 3.16% |
| 7 | Garware Hi-Tech Films Ltd | 2.94% |
| 8 | TVS Motor Company Limited | 2.67% |
| 9 | Lenskart Solutions Limited | 2.61% |
| 10 | Aarti Industries Limited | 2.42% |