HSBC Large and Mid Cap Fund
Direct · GrowthAI Summary
HSBC Large and Mid Cap Fund delivers strong SIP returns across horizons, with 3Y XIRR of 20.42% and 5Y XIRR of 21.11%, outperforming both the NIFTY 50 benchmark and its category averages (18.19% and 18.04% respectively). The fund has generated consistent positive alpha versus the NIFTY 50, including 12.99% over 1Y and 10.75% over 3Y, though alpha has narrowed over longer periods (5.11% at 10Y). Calendar year returns show strong upside years, but also negative years in 2022 (-3.43%) and 2025 (-3.20%).
The fund exhibits a beta slightly below 1 in most periods (0.91-0.94 near-term), with a notably low downside capture, indicating better-than-benchmark downside protection. The maximum drawdown of -0.36% over 32 days suggests no severe recent drawdowns, though 4 drawdown events greater than 10% have occurred historically. Calmar ratios between 0.51 and 0.59 across 1Y to 7Y indicate moderate risk-adjusted returns, consistent with the mid-cap exposure inherent in this category.
The portfolio holds 72 stocks with the top 10 accounting for about 34% of NAV, indicating reasonable diversification with no single stock dominating. Sector exposure is spread across Electrical Equipment (15.4%), Capital Markets (12.4%), Banks (9.6%), and Retailing (7.4%), with meaningful allocations to new-age consumer and financial technology names such as PB Fintech, FSN E-Commerce, and Lenskart Solutions. The top holdings also include Billionbrains Garage Ventures and BSE Ltd, reflecting a growth and financials-oriented tilt.
The fund's XIRR consistently beats the category average across all periods, with a 1Y XIRR of 16.7% versus 11.01% for the category and a 3Y XIRR of 20.42% versus 18.19%. Its ability to capture upside (106.92% over 3Y) while limiting downside (93.68%) relative to the NIFTY 50 suggests skilled stock selection within the large and mid-cap universe. The consistent outperformance across multiple time horizons indicates sustained competitive positioning among peers.
This fund suits investors with a high risk tolerance seeking growth through a blend of large and mid-cap equities, ideally with an investment horizon of 5 years or more given the category's inherent volatility. It is appropriate for those who can tolerate negative calendar year returns, such as the -3.43% in 2022, in exchange for long-term wealth creation. Investors looking for SIP investments will particularly benefit from the fund's strong XIRR performance versus its category.
- Consistent XIRR outperformance versus category averages across 1Y, 3Y, 5Y, and 7Y horizons
- Strong positive alpha versus NIFTY 50 across all measured periods, from 12.99% at 1Y to 3.17% at 15Y
- Diversified 72-stock portfolio with well-spread sector exposure, reducing single-stock concentration risk
- Low downside capture (78.74% at 1Y, 88.5% at 7Y) indicating better-than-benchmark downside protection
- Alpha has narrowed over longer horizons, declining from 12.99% at 1Y to 3.17% at 15Y, suggesting gradual convergence toward benchmark returns
- Exposure to volatile, newly listed growth names such as Billionbrains Garage Ventures, Lenskart Solutions, and PB Fintech adds valuation and liquidity risk
- Calendar year returns show vulnerability to negative years, including -3.43% in 2022 and -3.20% in 2025
Generated on 01-11-2026, 3:02 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 | ₹12.89 L | 21.7% | -52.4% | 93.9% |
| 3 Years | ₹36.00 L | ₹46.84 L | 19.9% | 5.5% | 37.6% |
| 5 Years | ₹60.00 L | ₹96.40 L | 21.1% | 11.7% | 31.2% |
| 7 Years | ₹84.00 L | ₹1.61 Cr | 18.3% | 15.3% | 19.9% |
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 | 21.7% | 14.3% | 11.0% | +7.4% |
| 3 Years | 19.9% | 11.0% | 17.8% | +8.9% |
| 5 Years | 21.1% | 10.4% | 18.0% | +10.8% |
| 7 Years | 18.3% | 10.6% | 17.0% | +7.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 20.7% | 15.1% | -20.4% | 89.1% | 0.64 | 2.67 | 84% | — | — |
| 3 Years | 20.8% | 20.9% | 12.4% | 31.3% | 4.07 | — | 100% | — | — |
| 5 Years | 21.1% | 21.8% | 12.1% | 29.2% | 3.65 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +12.85 | 0.90 | 95.3% | 78.8% | 7.7% | -6.4% |
| 3 Years | +10.15 | 1.05 | 106.5% | 93.9% | 17.5% | 7.3% |
| 5 Years | +7.63 | 1.01 | 101.6% | 92.1% | 13.4% | 5.8% |
| 7 Years | +7.59 | 0.94 | 96.6% | 88.5% | 17.8% | 10.5% |
| 10 Years | +5.06 | 0.94 | 96.1% | 88.4% | 12.5% | 7.5% |
| 12 Years | +4.08 | 0.94 | 96.1% | 88.4% | 10.3% | 6.2% |
| 15 Years | +3.13 | 0.94 | 96.1% | 88.4% | 8.2% | 4.9% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Billionbrains Garage Ventures Ltd. | 3.94% |
| 2 | FSN E-Commerce Ventures Limited | 3.83% |
| 3 | Bharat Electronics Limited | 3.66% |
| 4 | GE Vernova T&D India Limited | 3.60% |
| 5 | Lenskart Solutions Limited | 3.55% |
| 6 | Hindalco Industries Limited | 3.55% |
| 7 | Aditya Infotech Limited | 3.49% |
| 8 | BSE Ltd | 3.19% |
| 9 | PB Fintech Limited | 3.12% |
| 10 | The Federal Bank Limited | 2.96% |