Invesco India Flexi Cap Fund
Direct · GrowthAI Summary
Invesco India Flexi Cap Fund has delivered strong outperformance versus the NIFTY 50 across all long-term windows, with a 3Y lump-sum CAGR of 16.7% against the benchmark's 6.22% and positive alpha of 10.49%. On the primary SIP metric, its 3Y XIRR of 17.43% beats the category average of 14.73%, and its 1Y XIRR of 12.04% also leads the peer group's 9.49%. Calendar year returns show strong 2023-2024 gains (35.1% and 36.51%) but flat performance in 2025-2026.
Risk-adjusted returns are healthy, with Calmar ratios of 1.08 (1Y) and 1.14 (3Y) indicating solid return compensation per unit of drawdown. The fund has experienced 3 drawdown events exceeding 10%, with a maximum drawdown of -19.4% that took 144 days to recover. Downside capture of 93.28% over 3Y and 87.18% over 5Y shows the fund loses less than the benchmark in falling markets while capturing 106% of upside over 3Y.
The portfolio holds 74 stocks with a well-diversified top 10 accounting for roughly 28% of NAV, led by ICICI Bank at 5.95%. Sector exposure is spread across financials (Banks 11.3%, Finance 8.6%, Capital Markets 8.1%), IT-Software at 8.7%, and Retailing at 7.7%, giving balanced representation across growth and defensive themes. Holdings like Sai Life Sciences, Max Healthcare, and Titan add non-benchmark diversification beyond typical large-cap heavy portfolios.
The fund outperforms the category average SIP XIRR at both measured horizons (12.04% vs 9.49% at 1Y; 17.43% vs 14.73% at 3Y), placing it in the upper tier of flexi cap peers. Long-term alpha of 10.49% (3Y) and 9.00% (5Y) versus the NIFTY 50 demonstrates consistent stock-selection skill. However, the flat 2025-2026 calendar returns suggest recent momentum has cooled after two exceptional years.
This fund suits investors seeking a core flexi cap holding with a demonstrated record of benchmark outperformance and downside protection. A minimum horizon of 5-7 years is advisable, given the -19.4% maximum drawdown and multi-month recovery periods. Investors should have moderate-to-high risk tolerance and be comfortable with year-to-year return variability, including flat stretches like 2025-2026.
- Consistent alpha generation versus NIFTY 50 across 1Y to 15Y windows, including 10.49% alpha over 3Y
- Superior SIP XIRR versus category averages at both 1Y (12.04% vs 9.49%) and 3Y (17.43% vs 14.73%)
- Favorable asymmetry with upside capture of 106.11% and downside capture of 93.28% over 3Y, plus a low 0.52% expense ratio
- Maximum drawdown of -19.4% with a 144-day recovery period and three drawdown events exceeding 10% indicate meaningful downside risk
- Calendar year returns of just 0.3% (2025) and -0.1% (2026) show recent performance has stalled after strong 2023-2024 gains
Generated on 31-10-2026, 2:15 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 | ₹12.88 L | 21.0% | -28.4% | 68.8% |
| 3 Years | ₹36.00 L | ₹46.87 L | 17.7% | 2.1% | 35.3% |
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 | 21.0% | 14.3% | 9.5% | +6.7% |
| 3 Years | 17.7% | 11.0% | 14.7% | +6.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 20.9% | 15.7% | -6.2% | 62.1% | 0.77 | 4.87 | 93% | — | — |
| 3 Years | 22.0% | 21.8% | 15.3% | 30.3% | 4.59 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +9.67 | 1.09 | 110.5% | 97.7% | -2.7% | -10.9% |
| 3 Years | +10.28 | 1.02 | 105.9% | 93.3% | 16.7% | 6.4% |
| 5 Years | +8.90 | 0.93 | 99.1% | 87.2% | 14.8% | 5.9% |
| 7 Years | +6.06 | 0.93 | 99.1% | 87.2% | 10.4% | 4.2% |
| 10 Years | +4.01 | 0.93 | 99.1% | 87.2% | 7.2% | 2.9% |
| 12 Years | +3.24 | 0.93 | 99.1% | 87.2% | 5.9% | 2.4% |
| 15 Years | +2.49 | 0.93 | 99.1% | 87.2% | 4.7% | 1.9% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 6.63% |
| 2 | Larsen & Toubro Limited | 3.23% |
| 3 | Bajaj Finance Ltd | 3.19% |
| 4 | Bharti Airtel Limited | 3.10% |
| 5 | Sai Life Sciences Limited | 2.61% |
| 6 | Titan Company Limited | 2.35% |
| 7 | Multi Commodity Exchange of India Limited | 2.34% |
| 8 | Kotak Mahindra Bank Ltd | 2.20% |
| 9 | Lenskart Solutions Limited | 2.14% |
| 10 | Max Healthcare Institute Limited | 2.08% |