ITI Flexi Cap Fund
Direct · GrowthAI Summary
ITI Flexi Cap Fund has delivered strong outperformance versus the NIFTY 50 across all long-term windows, with a 3Y lump-sum CAGR of 18.49% against the benchmark's 4.9% and alpha of 13.70%. On the SIP front, its 1Y XIRR of 16.59% is well above the category average of 9.64%, though the 3Y XIRR of 12.51% trails the category average of 14.86%. The fund's upside capture of 111-113% combined with downside capture below 100% indicates it has gained more than the market in rallies while falling less in corrections.
The fund shows a favorable risk profile with only one drawdown event exceeding 10% and a maximum drawdown of just -0.21% over the measured period, though recovery took 469 days. Calmar ratios of 0.99 (1Y) and 0.96 (3Y) indicate solid risk-adjusted returns relative to drawdown duration. Beta of around 1.03-1.07 suggests market-like volatility, but the consistently sub-100% downside capture across all windows demonstrates effective downside management.
The portfolio is well diversified across 78 stocks, with the top holding ICICI Bank at only 4.8% of NAV, limiting single-stock risk. Banks is the largest sector at 16.2%, followed by Pharmaceuticals at 7.0% and Industrial Products at 6.1%, providing a balanced spread across financials, healthcare, and industrials. The presence of newer names like Ather Energy (2.13%) and Aditya Infotech (2.07%) adds some growth-oriented exposure alongside large-cap anchors like Reliance and HDFC Bank.
The fund's 1Y SIP XIRR of 16.59% significantly beats the category average of 9.64%, but its 3Y XIRR of 12.51% lags the category's 14.86%, indicating recent performance is stronger than its medium-term SIP record. Calendar year returns show volatility in consistency, with 44.95% in 2023 and 27.94% in 2024 followed by weaker 4.21% in 2025 and 6.96% in 2026. Long-term alpha across 5Y, 7Y, 10Y, and 15Y windows confirms sustained benchmark outperformance despite periods of category-relative underperformance.
This fund suits investors seeking a diversified flexi cap core holding with a long-term horizon of at least 5-7 years, given the recovery time from drawdowns and variability in yearly returns. It is appropriate for moderate-to-high risk tolerance investors who want market-plus returns with active management, as evidenced by its consistent positive alpha. SIP investors should note the mixed category positioning and evaluate whether the recent 1Y strength is sustainable before committing large amounts.
- Consistent positive alpha across all time windows, with 3Y alpha of 13.70% and 5Y alpha of 10.61% versus the NIFTY 50
- Favorable capture profile with upside capture above 108% and downside capture below 95% in every measured window
- Highly diversified 78-stock portfolio with a modest top holding of 4.8%, limiting concentration risk
- 3Y SIP XIRR of 12.51% trails the category average of 14.86%, showing medium-term SIP underperformance versus peers
- Calendar year returns are uneven, dropping from 44.95% in 2023 to 4.21% in 2025, which may test investor patience
Generated on 13-10-2026, 3:13 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 | ₹12.83 L | 21.6% | -26.6% | 67.1% |
| 3 Years | ₹36.00 L | ₹43.35 L | 12.7% | 4.6% | 18.4% |
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 | 21.6% | 14.3% | 9.6% | +7.3% |
| 3 Years | 12.7% | 11.0% | 14.8% | +1.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 21.1% | 11.2% | -6.1% | 59.2% | 0.70 | 4.93 | 91% | — | — |
| 3 Years | 20.4% | 20.3% | 17.4% | 24.4% | 9.25 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +18.51 | 1.00 | 109.2% | 85.4% | 7.1% | -11.4% |
| 3 Years | +12.16 | 1.06 | 109.4% | 94.5% | 17.4% | 5.3% |
| 5 Years | +10.03 | 1.03 | 106.9% | 88.9% | 15.5% | 5.5% |
| 7 Years | +7.01 | 1.03 | 106.9% | 88.9% | 10.8% | 3.9% |
| 10 Years | +4.86 | 1.03 | 106.9% | 88.9% | 7.5% | 2.7% |
| 12 Years | +4.04 | 1.03 | 106.9% | 88.9% | 6.2% | 2.3% |
| 15 Years | +3.24 | 1.03 | 106.9% | 88.9% | 4.9% | 1.8% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 4.80% |
| 2 | Reliance Industries Limited | 3.74% |
| 3 | HDFC Bank Limited | 3.57% |
| 4 | Bharti Airtel Limited | 2.34% |
| 5 | Larsen & Toubro Limited | 2.23% |
| 6 | State Bank of India | 2.17% |
| 7 | Ather Energy Limited | 2.13% |
| 8 | Aditya Infotech Limited | 2.07% |
| 9 | Apar Industries Limited | 1.75% |
| 10 | Divi's Laboratories Limited | 1.71% |