HSBC Large Cap Fund
Direct · GrowthAI Summary
HSBC Large Cap Fund has delivered consistent alpha over the NIFTY 50 across all periods, with the fund's CAGR exceeding the benchmark by 1.60% to 5.77% depending on the window. Its SIP XIRR of 13.56% to 14.07% across 3Y to 12Y horizons is broadly in line with the category average of around 14%, though it slightly trails peers in the 3Y (13.56% vs 14.28%) and 10Y (14.07% vs 14.37%) windows. The 1Y XIRR of 15.73% outpaces both the category average of 14.08% and the benchmark, which returned a negative CAGR of -2.9% over the same period.
The fund shows a near-market beta of around 0.98 to 1.04 with consistently lower downside capture (97.4% to 98.8%) than upside capture, indicating it falls slightly less than the index during declines. Nine drawdown events exceeding 10% reflect typical large cap equity volatility, and the maximum drawdown recovery took 228 days. Calmar ratios of roughly 0.36 to 0.42 across horizons indicate moderate risk-adjusted efficiency, with the 1Y Calmar of 0.4153 being the strongest.
The portfolio is concentrated in financials, with Banks alone accounting for 24.6% and Finance adding another 6.7%, led by ICICI Bank (8.97%) and HDFC Bank (8.54%). With 36 total holdings and a top-10 weight of roughly 49%, the fund maintains reasonable diversification while retaining conviction in core large cap names like Reliance Industries (7.11%) and Larsen & Toubro (5.35%). Sector exposure is otherwise spread across petroleum, retailing, telecom, and automobiles, limiting single-sector risk outside of banking.
The fund's SIP XIRR sits marginally below the category average in the 3Y, 5Y, 7Y, 10Y, and 12Y windows, though the gaps are small (mostly under 0.6 percentage points). Its 1Y XIRR of 15.73% beats the category average of 14.08%, suggesting recent momentum. Calendar year returns show consistency, with positive returns in 10 of the last 14 years and strong outperformance years like 2014 (35.74%) and 2017 (31.29%).
This fund suits investors seeking core large cap exposure with a long-term horizon of at least 5 years, given that its alpha and XIRR figures are most compelling over extended periods. It is appropriate for moderate risk tolerance investors, as drawdowns exceeding 10% have occurred nine times, though downside capture below 100% offers some cushion versus the index. A SIP approach aligns well with the fund's steady 13.5% to 14% XIRR profile across multi-year windows.
- Consistent positive alpha versus NIFTY 50 across all measured periods, ranging from 1.60% (15Y) to 6.12% (1Y)
- Downside capture consistently below 100% (97.4% to 98.8%) across all horizons, indicating better-than-index protection in falling markets
- Strong 1Y SIP XIRR of 15.73% that beats both the category average of 14.08% and the benchmark's negative CAGR of -2.9%
- SIP XIRR trails the category average in the 3Y, 5Y, 7Y, 10Y, and 12Y windows, indicating peers have marginally outperformed over longer horizons
- Heavy banking concentration of 24.6% in Banks plus 6.7% in Finance exposes the portfolio to financial sector downturns
- Expense ratio of 1.29% is relatively high for a large cap fund, which can erode returns in a category where benchmark outperformance is structurally difficult
Generated on 06-09-2026, 8:00 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 | ₹12.72 L | 15.7% | -54.8% | 92.0% |
| 3 Years | ₹36.00 L | ₹43.81 L | 13.6% | -19.0% | 30.8% |
| 5 Years | ₹60.00 L | ₹84.61 L | 13.6% | -6.4% | 24.6% |
| 7 Years | ₹84.00 L | ₹1.37 Cr | 13.7% | -0.7% | 20.5% |
| 10 Years | ₹1.20 Cr | ₹2.50 Cr | 14.1% | 11.3% | 17.6% |
| 12 Years | ₹1.44 Cr | ₹3.45 Cr | 13.6% | 11.4% | 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 | 15.7% | 14.4% | 14.1% | +1.4% |
| 3 Years | 13.6% | 11.1% | 14.3% | +2.5% |
| 5 Years | 13.6% | 10.4% | 14.0% | +3.2% |
| 7 Years | 13.7% | 10.6% | 14.1% | +3.2% |
| 10 Years | 14.1% | 11.5% | 14.4% | +2.6% |
| 12 Years | 13.6% | 11.4% | 14.1% | +2.2% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.0% | 11.7% | -27.6% | 87.9% | 0.51 | 1.47 | 82% | — | — |
| 3 Years | 13.7% | 13.9% | -4.8% | 28.7% | 1.60 | 6.12 | 99% | — | — |
| 5 Years | 13.6% | 13.7% | 0.2% | 25.1% | 1.83 | 14.30 | 100% | — | — |
| 10 Years | 13.6% | 13.6% | 10.9% | 15.8% | 7.41 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +6.12 | 1.04 | 105.0% | 97.6% | 2.9% | -2.9% |
| 3 Years | +4.33 | 1.03 | 104.1% | 98.8% | 12.1% | 7.8% |
| 5 Years | +2.84 | 1.02 | 101.9% | 98.5% | 10.7% | 7.8% |
| 7 Years | +2.18 | 0.98 | 99.8% | 97.5% | 13.9% | 11.8% |
| 10 Years | +1.74 | 0.99 | 100.5% | 98.5% | 12.5% | 10.8% |
| 12 Years | +1.95 | 0.99 | 100.7% | 98.5% | 11.7% | 9.8% |
| 15 Years | +1.60 | 0.99 | 100.3% | 98.4% | 11.3% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 9.01% |
| 2 | HDFC Bank Limited | 8.03% |
| 3 | Reliance Industries Limited | 6.37% |
| 4 | Larsen & Toubro Limited | 5.45% |
| 5 | Shriram Finance Limited | 4.79% |
| 6 | Eternal Limited | 4.42% |
| 7 | Sterlite Technologies Limited | 4.32% |
| 8 | State Bank of India | 4.00% |
| 9 | Bharti Airtel Limited | 3.42% |
| 10 | Mahindra & Mahindra Limited | 3.10% |