Invesco India Manufacturing Fund
Direct · GrowthAI Summary
Invesco India Manufacturing Fund delivered a 1Y SIP XIRR of 12.24%, modestly ahead of the thematic category average of 11.71%. Calendar year returns have been uneven, with 15.49% in 2026, a -5.47% decline in 2025, and 6.06% in 2024. The 1Y rolling return mean of 7.58% suggests lump-sum investors have experienced more muted average outcomes than SIP investors.
The fund shows a shallow maximum drawdown of -0.22% with a 57-day drawdown duration, though recovery took 433 days, indicating slow rebound after the trough. Only one drawdown event exceeding 10% has occurred, pointing to contained historical volatility. The 1Y Calmar ratio of 0.3152 reflects a moderate risk-adjusted return profile relative to the drawdown experienced.
The portfolio is heavily tilted toward the auto ecosystem, with Auto Components at 20.6% and Automobiles at 16.0% of NAV, and four of the top ten holdings being automakers including Mahindra & Mahindra (5.23%) and TVS Motor (3.64%). Pharmaceuticals & Biotechnology at 14.2% led by Divi's Laboratories provides some counterbalance. With 45 total holdings and no single stock above 5.3%, stock-level diversification is reasonable, but sector concentration in autos remains a key risk.
The fund's 1Y SIP XIRR of 12.24% edges out the category average of 11.71%, suggesting recent relative strength among thematic peers. However, calendar year returns show inconsistency, swinging from 15.49% in 2026 to a -5.47% loss in 2025. As a thematic manufacturing fund, it should be judged against its niche mandate rather than diversified equity categories.
This fund suits investors with high risk tolerance who want targeted exposure to India's manufacturing and auto sector theme, and who accept the cyclicality that comes with it. A time horizon of at least 5-7 years is advisable given the sector concentration and uneven year-to-year returns. It is best used as a satellite allocation alongside diversified core holdings rather than a standalone investment.
- 1Y SIP XIRR of 12.24% outperforms the thematic category average of 11.71%
- Contained drawdown history with a maximum drawdown of just -0.22% and only one event exceeding 10%
- Reasonable stock-level diversification with 45 holdings and no position exceeding 5.3% of NAV
- Heavy sector concentration in the auto ecosystem, with Auto Components (20.6%) and Automobiles (16.0%) together comprising over a third of the portfolio
- Inconsistent calendar year performance, including a -5.47% loss in 2025, and a long 433-day recovery from the maximum drawdown
Generated on 21-10-2026, 3:09 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 | ₹12.54 L | 12.0% | -16.7% | 39.2% |
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 | 12.0% | 11.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 6.8% | 7.7% | -7.3% | 22.0% | 0.05 | 0.07 | 80% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | Mahindra & Mahindra Limited | 5.23% |
| 2 | Divi's Laboratories Limited | 3.79% |
| 3 | TVS Motor Company Limited | 3.64% |
| 4 | Eicher Motors Limited | 3.47% |
| 5 | Sedemac Mechatronics Limited | 3.43% |
| 6 | Dhoot Transmission Ltd | 3.35% |
| 7 | Bansal Wire Industries Limited | 3.27% |
| 8 | Tata Motors Ltd | 3.07% |
| 9 | Craftsman Automation Limited | 2.98% |
| 10 | Gabriel India Limited | 2.96% |