ITI Bharat Consumption Fund
Direct · GrowthAI Summary
ITI Bharat Consumption Fund has underperformed its category on SIP returns, with a 1Y XIRR of 0.95% versus the category average of 10.6%. However, it has consistently outperformed the NIFTY 50 benchmark across all periods, delivering positive alpha at every horizon (5.43% over 1Y, 3.05% over 3Y, and 1.59% over 5Y). The fund's 3Y lump-sum CAGR of 3.9% also exceeds the benchmark's 0.31%, indicating genuine benchmark-beating performance despite weak absolute returns.
The fund exhibits strong downside protection with a downside capture of 88.49% over 1Y and 84.18% over longer periods, meaning it falls less than the benchmark in declining markets. Beta of 0.96 over 1Y (0.91 over longer windows) indicates market-like volatility with a defensive tilt. The Calmar ratio of 0.14 over 1Y reflects modest risk-adjusted returns, and the single drawdown event exceeding 10% suggests contained tail risk.
The portfolio is well diversified across 55 holdings, with the top 10 accounting for roughly 41% of NAV, led by Bharti Airtel (6.4%) and Eternal (6.03%). Automobiles is the largest sector exposure at 22.1%, followed by Consumer Durables (12.5%) and Retailing (11.1%), giving the fund a broad domestic consumption theme. Notable exposure to newer names like Ather Energy (3.09%) adds a growth-oriented, slightly higher-risk element.
Against sectoral/thematic peers, the fund lags meaningfully on SIP XIRR, with its 1Y figure of 0.95% well below the category average of 10.6%. Its strength lies in relative consistency versus the broad market, with positive alpha across 1Y through 15Y horizons and calendar year returns of 18.13% in 2025 followed by -4.57% in 2026. Investors should recognize that thematic category averages can be inflated by sector cycles, so the benchmark outperformance is the more meaningful signal here.
This fund suits investors seeking targeted exposure to India's domestic consumption story as a satellite holding within a diversified portfolio, not as a core fund. A time horizon of at least 5-7 years is appropriate given thematic cyclicality and the fund's modest long-term absolute returns. Investors should have a moderate-to-high risk tolerance and be comfortable with periods of underperformance versus broader equity categories.
- Consistent positive alpha versus NIFTY 50 across all measured periods, from 5.43% over 1Y to 1.59% over 5Y
- Strong downside protection with downside capture of 84.18% over longer horizons, cushioning losses in weak markets
- Diversified 55-stock portfolio with a reasonable 0.77% expense ratio for a thematic fund
- SIP XIRR of 0.95% over 1Y is far below the category average of 10.6%, indicating weak peer-relative performance
- Heavy sector concentration in Automobiles at 22.1% of NAV exposes investors to auto-cycle and EV-transition risks
Generated on 29-10-2026, 2:12 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 | ₹12.04 L | 1.0% | -23.4% | 17.7% |
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 | 1.0% | 14.3% | 10.6% | -13.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 2.2% | 2.3% | -7.2% | 10.2% | -1.27 | -0.79 | 78% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +7.56 | 0.96 | 96.2% | 86.2% | -3.7% | -12.0% |
| 3 Years | +3.71 | 0.91 | 92.8% | 82.8% | 4.8% | 0.6% |
| 5 Years | +1.97 | 0.91 | 92.8% | 82.8% | 2.9% | 0.3% |
| 7 Years | +1.23 | 0.91 | 92.8% | 82.8% | 2.0% | 0.3% |
| 10 Years | +0.70 | 0.91 | 92.8% | 82.8% | 1.4% | 0.2% |
| 12 Years | +0.48 | 0.91 | 92.8% | 82.8% | 1.2% | 0.1% |
| 15 Years | +0.26 | 0.91 | 92.8% | 82.8% | 0.9% | 0.1% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Bharti Airtel Limited | 6.57% |
| 2 | Eternal Limited | 6.23% |
| 3 | Titan Company Limited | 4.60% |
| 4 | Mahindra & Mahindra Limited | 4.17% |
| 5 | Maruti Suzuki India Limited | 4.06% |
| 6 | ITC Limited | 3.87% |
| 7 | TVS Motor Company Limited | 2.94% |
| 8 | Ather Energy Limited | 2.71% |
| 9 | Nestle India Limited | 2.63% |
| 10 | Hindustan Unilever Limited | 2.61% |