Invesco India Technology Fund
Direct · GrowthAI Summary
Invesco India Technology Fund has delivered a 1Y SIP XIRR of 2.62%, significantly underperforming the category average SIP XIRR of 12.13% for the same period. Calendar year returns have been inconsistent, with 0.3% in 2026, -4.99% in 2025, and 5.59% in 2024. The 1Y rolling return mean of 0.44% on a lump-sum basis also points to muted recent performance.
The fund shows a maximum drawdown of -0.28% with a duration of 112 days and no recorded recovery yet, alongside one drawdown event exceeding 10%. The 1Y Calmar ratio of 0.0128 indicates weak risk-adjusted returns, as returns have not compensated meaningfully for drawdown risk. Investors should note that sector funds like this typically carry higher volatility than diversified equity funds.
The portfolio is concentrated in IT - Software at 43.9% of NAV, with Infosys (9.34%), Coforge (8.37%), and Tech Mahindra (7.64%) as the top holdings. Retailing is the second-largest sector at 13.7%, including newer-age names like Eternal, FSN E-Commerce (Nykaa), and Meesho. With only 23 total holdings, the portfolio is fairly concentrated, which amplifies both sector-specific upside and downside.
The fund trails the category average SIP XIRR of 12.13% for 1Y by a wide margin, suggesting weaker recent performance versus sectoral peers. Calendar year returns show inconsistency, swinging from 5.59% in 2024 to -4.99% in 2025 and near-flat 0.3% in 2026. This lack of consistency makes it difficult to position the fund as a category leader at present.
This fund is suitable only for experienced investors with high risk tolerance who want tactical exposure to the technology and new-economy sectors, and who understand sector funds can underperform for extended periods. A time horizon of at least 5-7 years is advisable to ride out sector cycles, and it should be limited to a small satellite allocation (5-10%) within a diversified portfolio. Investors seeking steady, diversified returns should look elsewhere given the current underperformance.
- Low TER of 0.82% for a sectoral fund, which helps contain cost drag on returns
- Exposure to high-growth new-economy names like Eternal, Nykaa, and Meesho alongside established IT majors
- Moderate top-10 concentration with 23 total holdings, avoiding extreme single-stock dependence
- 1Y SIP XIRR of 2.62% lags the category average of 12.13% by nearly 10 percentage points
- Heavy sector concentration in IT - Software (43.9%) exposes investors to sector-specific downturns
- Weak risk-adjusted returns with a 1Y Calmar ratio of just 0.0128 and an unrecovered drawdown lasting 112 days
Generated on 29-10-2026, 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 | ₹12.31 L | 3.4% | -30.3% | 22.4% |
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 | 3.4% | 12.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 0.4% | 0.0% | -8.3% | 12.0% | -1.51 | -0.84 | 49% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | Infosys Limited | 9.34% |
| 2 | Coforge Limited | 8.37% |
| 3 | Tech Mahindra Limited | 7.64% |
| 4 | Persistent Systems Ltd | 6.93% |
| 5 | Eternal Limited | 5.75% |
| 6 | Bharti Airtel Limited | 5.08% |
| 7 | Multi Commodity Exchange of India Limited | 4.17% |
| 8 | FSN E-Commerce Ventures Limited | 4.06% |
| 9 | Meesho Ltd | 3.91% |
| 10 | MphasiS Limited | 3.63% |