Invesco India Financial Services Fund
Direct · GrowthAI Summary
Invesco India Financial Services Fund has delivered a 10Y SIP XIRR of 16.87% and a 5Y SIP XIRR of 16.76%, though it trails the category average SIP XIRR across most periods, including 17.96% (10Y) and 17.37% (5Y). Its 1Y SIP XIRR of 21.32% meaningfully outpaces the category average of 13.57%, indicating strong recent momentum. Calendar year returns show high variability, ranging from 58.05% in 2014 to -10.78% in 2013.
The fund's maximum drawdown of -0.42% with a 40-day duration and 269-day recovery suggests the measured drawdown window was relatively benign, but 13 drawdown events exceeding 10% confirm the sector's inherent cyclicality. Calmar ratios between 0.37 (7Y) and 0.47 (1Y) indicate moderate risk-adjusted efficiency. As a sectoral fund concentrated in financials, investors should expect sharper drawdowns than diversified equity during credit or banking stress.
The portfolio is heavily weighted toward banks at 48.9%, with ICICI Bank (13.53%) and HDFC Bank (10.7%) as the top holdings, followed by Capital Markets (21.9%) and Finance (17.2%). With only 31 total holdings and nearly 89% of assets in the top three sectors, diversification is limited by design. The 24.4% allocation to the top two private banks provides quality large-cap anchoring within a concentrated sector bet.
The fund underperforms the category average SIP XIRR over 3Y (17.58% vs 18.34%), 5Y (16.76% vs 17.37%), 7Y (15.94% vs 16.56%), and 10Y (16.87% vs 17.96%) periods, though it leads over 1Y. Long-term consistency is reasonable, with rolling 10Y and 12Y mean returns of 17.16% and 17.97% respectively. Its middling long-horizon positioning suggests it is a mid-tier performer among financial services sector funds.
This fund suits investors with high risk tolerance who want a tactical or satellite allocation to India's financial sector, not a core holding. A horizon of at least 5-7 years is advisable given the sector's cyclical drawdown history, including the -10.78% calendar year return in 2013. It should be limited to a small portion of the overall portfolio, ideally 5-10%, given its concentrated single-sector exposure.
- Strong recent performance with a 1Y SIP XIRR of 21.32%, well above the category average of 13.57%
- High-quality large-cap anchors with ICICI Bank and HDFC Bank comprising 24.23% of the portfolio
- Consistent long-term compounding with a 10Y SIP XIRR of 16.87% and rolling 12Y mean return of 17.97%
- Underperforms the category average SIP XIRR across 3Y, 5Y, 7Y, and 10Y horizons
- Heavy concentration with 48.9% in banks and nearly 89% across the top three sectors, limiting diversification
- History of 13 drawdown events exceeding 10% reflects significant sector cyclicality
Generated on 06-09-2026, 7:59 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 | ₹13.08 L | 21.3% | -62.4% | 106.8% |
| 3 Years | ₹36.00 L | ₹46.51 L | 17.6% | -21.0% | 32.9% |
| 5 Years | ₹60.00 L | ₹90.91 L | 16.8% | -4.6% | 26.9% |
| 7 Years | ₹84.00 L | ₹1.50 Cr | 15.9% | 3.0% | 21.8% |
| 10 Years | ₹1.20 Cr | ₹2.90 Cr | 16.9% | 13.5% | 19.5% |
| 12 Years | ₹1.44 Cr | ₹4.35 Cr | 17.2% | 14.9% | 18.9% |
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 | 21.3% | 13.6% |
| 3 Years | 17.6% | 18.3% |
| 5 Years | 16.8% | 17.4% |
| 7 Years | 15.9% | 16.6% |
| 10 Years | 16.9% | 18.0% |
| 12 Years | 17.2% | 17.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.7% | 17.2% | -32.5% | 89.3% | 0.62 | 1.83 | 84% | — | — |
| 3 Years | 17.5% | 18.7% | -4.0% | 33.6% | 1.60 | 7.38 | 98% | — | — |
| 5 Years | 16.6% | 16.9% | 2.9% | 29.4% | 2.11 | 54.08 | 100% | — | — |
| 10 Years | 17.2% | 17.2% | 13.4% | 20.5% | 7.05 | — | 100% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 13.53% |
| 2 | HDFC Bank Limited | 10.70% |
| 3 | Axis Bank Limited | 6.70% |
| 4 | Karur Vysya Bank Limited | 5.25% |
| 5 | BSE Limited | 4.40% |
| 6 | Shriram Finance Limited | 4.15% |
| 7 | ICICI Prudential Asset Management Company Limited | 4.05% |
| 8 | Multi Commodity Exchange of India Limited | 3.66% |
| 9 | Nuvama Wealth Management Ltd | 3.65% |
| 10 | Cholamandalam Investment and Finance Company Limited | 3.49% |