Invesco India Flexi Cap Fund
Direct · GrowthAI Summary
Invesco India Flexi Cap Fund has delivered strong outperformance versus the NIFTY 50 across all measured periods, with a 3Y lump-sum CAGR of 20.22% against the benchmark's 7.75% and alpha of 12.43%. On the primary SIP metric, its 1Y XIRR of 21.69% and 3Y XIRR of 18.82% comfortably beat the category averages of 15.6% and 14.89% respectively. Calendar year returns show strong years in 2023 (35.1%) and 2024 (36.51%), though 2025 was nearly flat at 0.3%.
The fund shows a favorable risk profile with a maximum drawdown of just -0.19% over 74 days and a recovery period of 144 days, alongside three drawdown events exceeding 10%. Calmar ratios of 1.14 (1Y) and 1.17 (3Y) indicate solid risk-adjusted returns. Downside capture has improved markedly over longer horizons, falling from 102.44% over 1Y to 87.2% over 5Y and beyond, suggesting the fund has historically protected capital better in weak markets.
The portfolio holds 69 stocks with a well-diversified top ten, led by ICICI Bank at 6.14% and no other single stock above 3.6%. Sector exposure is balanced across financials (Capital Markets 9.9%, Finance 8.7%, Banks 8.6%), Healthcare Services (8.2%), and IT-Software (8.0%). This spread across financials, healthcare, consumer, and industrials reflects genuine flexi-cap diversification rather than concentrated sector bets.
The fund outpaces its category on SIP XIRR in both measured windows, beating the 1Y category average by roughly 6.1 percentage points and the 3Y average by about 3.9 percentage points. Long-term benchmark data reinforces consistency, with positive alpha over every period from 1Y through 15Y. The combination of above-average returns and a low 0.52% expense ratio strengthens its competitive positioning among flexi-cap peers.
This fund suits investors seeking diversified equity exposure with active management that has historically outperformed both its benchmark and category. A time horizon of at least 5 years is appropriate, given the fund's long-term record of 16.14% CAGR over 5Y and strong downside capture over extended periods. Investors should be comfortable with moderate volatility, including occasional flat years like 2025's 0.3% return.
- Consistent alpha generation across all time horizons, including 12.43% alpha over 3Y and positive alpha over 15Y
- SIP XIRR of 18.82% over 3Y significantly exceeds the category average of 14.89%
- Strong downside protection over long horizons with downside capture of 87.2% over 5Y and beyond, plus a low 0.52% expense ratio
- Recent 1Y downside capture of 102.44% indicates the fund fell slightly more than the benchmark in down markets over the short term
- Calendar year returns are uneven, with 2025 delivering only 0.3% after two consecutive years above 35%, highlighting potential volatility in yearly outcomes
Generated on 11-09-2026, 3:12 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 | ₹12.91 L | 21.7% | -28.4% | 68.8% |
| 3 Years | ₹36.00 L | ₹48.17 L | 18.8% | 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 | 21.7% | 14.4% | 15.6% | +7.3% |
| 3 Years | 18.8% | 11.1% | 14.9% | +7.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.1% | 17.0% | -5.1% | 62.1% | 0.84 | 6.14 | 95% | — | — |
| 3 Years | 22.6% | 22.4% | 16.7% | 30.3% | 5.22 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.33 | 1.11 | 112.9% | 102.4% | 4.3% | -2.9% |
| 3 Years | +12.43 | 1.03 | 108.0% | 92.8% | 20.2% | 7.8% |
| 5 Years | +9.27 | 0.94 | 99.9% | 87.2% | 16.1% | 6.9% |
| 7 Years | +6.30 | 0.94 | 99.9% | 87.2% | 11.3% | 4.9% |
| 10 Years | +4.18 | 0.94 | 99.9% | 87.2% | 7.8% | 3.4% |
| 12 Years | +3.37 | 0.94 | 99.9% | 87.2% | 6.4% | 2.8% |
| 15 Years | +2.59 | 0.94 | 99.9% | 87.2% | 5.1% | 2.3% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 6.14% |
| 2 | Larsen & Toubro Limited | 3.56% |
| 3 | Bajaj Finance Ltd | 3.55% |
| 4 | Cholamandalam Investment and Finance Company Limited | 2.79% |
| 5 | Titan Company Limited | 2.75% |
| 6 | Sai Life Sciences Limited | 2.74% |
| 7 | Max Healthcare Institute Limited | 2.65% |
| 8 | BSE Limited | 2.16% |
| 9 | Trent Limited | 2.16% |
| 10 | TVS Motor Company Limited | 2.02% |