ITI Banking and Financial Services Fund
Direct · GrowthAI Summary
The ITI Banking and Financial Services Fund has delivered a 1Y SIP XIRR of 12.26% and a 3Y SIP XIRR of 13.99%. It has outperformed the NIFTY 50 across all measured periods, with a 3Y fund CAGR of 11.22% versus the benchmark's 6.22% and positive alpha of 5.03% over 3Y. However, its 3Y XIRR of 13.99% trails the category average SIP XIRR of 16.18%, indicating middling peer-relative performance despite strong benchmark outperformance.
The fund shows a beta above 1 (1.16 over 1Y, 1.09 over 3Y), meaning it moves more sharply than the NIFTY 50 in both directions, with a 1Y downside capture of 105.89%. It has experienced 4 drawdown events exceeding 10%, and the current maximum drawdown of -0.17% has not yet recovered after 41 days. Calmar ratios of roughly 0.90 across 1Y and 3Y suggest moderate risk-adjusted returns relative to the drawdowns endured.
The portfolio is concentrated in Banks (57.6%) and Finance (31.5%), which together account for nearly 90% of assets, with only 33 total holdings. The top 10 positions are dominated by large private and public sector banks such as ICICI Bank (11.24%), SBI (7.88%), and HDFC Bank (7.62%), alongside lenders like Bajaj Finance (7.46%). This concentrated, large-cap-tilted financials book offers quality but limited diversification within the sector theme.
The fund's 1Y SIP XIRR of 12.26% beats the category average of 10.57%, but its 3Y XIRR of 13.99% lags the category average of 16.18%, and longer-horizon category averages (5Y: 17.43%, 10Y: 16.43%) suggest peers have historically compounded faster. Calendar year returns show reasonable consistency, with positive years in 2022-2025 but losses in 2021 (-2.46%) and 2026 YTD (-7.43%). Overall, the fund sits in the middle of its sectoral/thematic peer group.
This fund is suitable for investors with high risk tolerance who want targeted exposure to the banking and financial services sector and can tolerate sector-specific downturns and drawdowns exceeding 10%. A time horizon of at least 5-7 years is advisable to ride out sector cycles, and it should be used as a satellite allocation rather than a core holding. Investors seeking broad diversification should pair it with diversified equity funds.
- Consistent outperformance versus the NIFTY 50, with positive alpha across all periods from 1Y (10.15%) to 15Y (1.54%)
- Low expense ratio of 0.4% for a sectoral fund, keeping costs competitive
- Quality large-cap financial holdings, with ICICI Bank, SBI, and HDFC Bank anchoring the portfolio
- 3Y SIP XIRR of 13.99% trails the category average of 16.18%, indicating underperformance versus sectoral peers over medium horizons
- Heavy concentration in Banks (57.6%) and Finance (31.5%) exposes investors to sector-specific risk, with 4 drawdown events exceeding 10% on record
Generated on 31-10-2026, 2:16 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 | ₹12.90 L | 15.1% | -17.8% | 34.3% |
| 3 Years | ₹36.00 L | ₹44.05 L | 14.0% | 3.1% | 19.6% |
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 | 15.1% | 14.3% | 10.5% | +0.8% |
| 3 Years | 14.0% | 11.0% | 16.2% | +3.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.0% | 14.7% | -6.6% | 33.6% | 1.17 | 5.88 | 99% | — | — |
| 3 Years | 15.1% | 14.9% | 9.5% | 22.1% | 3.14 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.43 | 1.16 | 116.6% | 105.9% | -5.3% | -10.9% |
| 3 Years | +4.58 | 1.09 | 106.0% | 100.1% | 11.0% | 6.4% |
| 5 Years | +3.94 | 1.05 | 102.8% | 97.8% | 9.6% | 5.7% |
| 7 Years | +2.85 | 1.05 | 102.8% | 97.8% | 6.7% | 4.0% |
| 10 Years | +2.05 | 1.05 | 102.8% | 97.8% | 4.7% | 2.8% |
| 12 Years | +1.74 | 1.05 | 102.8% | 97.8% | 3.9% | 2.3% |
| 15 Years | +1.45 | 1.05 | 102.8% | 97.8% | 3.1% | 1.9% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 10.97% |
| 2 | HDFC Bank Limited | 9.19% |
| 3 | Axis Bank Limited | 7.66% |
| 4 | State Bank of India | 6.66% |
| 5 | Bajaj Finance Limited | 6.30% |
| 6 | Kotak Mahindra Bank Limited | 5.80% |
| 7 | Shriram Finance Limited | 4.91% |
| 8 | Cholamandalam Investment and Finance Company Ltd | 3.30% |
| 9 | RBL Bank Limited | 2.24% |
| 10 | Multi Commodity Exchange of India Limited | 2.17% |