ITI Focused Fund
Direct · GrowthAI Summary
The ITI Focused Fund has delivered a 1-year SIP XIRR of 17.94%, slightly above the category average of 17.03%, and a 3-year SIP XIRR of 14.00%, which is below the category average of 16.40%. Over the long term, the fund has consistently outperformed the NIFTY 50, with a 3-year fund CAGR of 20.84% versus the benchmark's 7.75%, and positive alpha across all periods. However, the 1-year fund CAGR of 12.62% contrasts with a negative benchmark return of -2.9%, indicating strong relative performance in a challenging market.
The fund exhibits moderate volatility with a beta of around 1.03-1.04 relative to the NIFTY 50, indicating slightly higher sensitivity to market movements. Its maximum drawdown is shallow at -18.44%, with a recovery period of 118 days, and the Calmar ratio of 1.07 over 3 years suggests reasonable risk-adjusted returns. The fund has experienced only 2 drawdown events exceeding 10%, and its downside capture ratio (86-92%) is lower than its upside capture (105-108%), indicating it participates in market gains more than it suffers in declines.
The fund holds 27 stocks with a top 10 concentration of about 42%, led by ICICI Bank (5.18%), Solar Industries (4.48%), and HDFC Bank (4.45%). Sector allocation is diversified, with Industrial Products and Banks each at 13.2%, followed by Pharmaceuticals (7.4%), Chemicals (4.5%), and Non-Ferrous Metals (4.4%). This mix provides exposure to both cyclical and defensive sectors, though the top holdings are heavily weighted toward financials and industrials.
The fund's 1-year XIRR of 17.94% is slightly above the category average, but its 3-year XIRR of 14.00% lags the category's 16.40%, indicating underperformance over the medium term. Calendar year returns show strong performance in 2024 (26.52%) and 2023 (20.03%), but a moderation in 2025 (9.28%) and 2026 (6.46%). The fund has consistently beaten the NIFTY 50 across all time frames, but its category-relative performance is mixed, suggesting it may be more volatile in peer comparison.
This fund is suitable for investors with a moderately high risk tolerance and a long-term investment horizon of at least 3-5 years, given its focus on concentrated, high-conviction bets. It may appeal to those seeking alpha over the benchmark with a diversified sector approach, but investors should be comfortable with potential underperformance relative to category peers in certain periods. The fund's low expense ratio of 0.58% (direct plan) is a cost advantage, but its focused nature (27 stocks) requires patience and a belief in the fund manager's stock selection.
- Consistent outperformance over the NIFTY 50 with positive alpha across all time periods (1Y to 15Y), including a 1-year alpha of 15.60%.
- Favorable risk profile with lower downside capture (86-92%) than upside capture (105-108%), indicating better protection in market downturns.
- Low expense ratio of 0.58% (direct plan) enhances net returns for investors.
- 3-year SIP XIRR of 14.00% is below the category average of 16.40%, indicating underperformance relative to peers over the medium term.
- High concentration in top 10 holdings (42% of NAV) and sector concentration in Banks and Industrial Products (13.2% each) may increase stock-specific and sector-specific risk.
Generated on 30-08-2026, 3:02 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 | ₹12.78 L | 17.9% | -21.5% | 62.7% |
| 3 Years | ₹36.00 L | ₹43.89 L | 14.0% | 12.0% | 15.5% |
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 | 17.9% | 14.4% | 17.0% | +3.5% |
| 3 Years | 14.0% | 11.1% | 16.4% | +2.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.2% | 12.0% | -1.6% | 52.8% | 0.74 | 7.41 | 99% | — | — |
| 3 Years | 19.8% | 19.7% | 18.8% | 21.1% | 21.51 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +15.60 | 1.01 | 106.1% | 86.5% | 12.6% | -2.9% |
| 3 Years | +13.03 | 1.04 | 107.8% | 91.8% | 20.8% | 7.8% |
| 5 Years | +7.08 | 1.03 | 105.3% | 90.6% | 12.2% | 5.2% |
| 7 Years | +5.00 | 1.03 | 105.3% | 90.6% | 8.6% | 3.7% |
| 10 Years | +3.51 | 1.03 | 105.3% | 90.6% | 5.9% | 2.5% |
| 12 Years | +2.94 | 1.03 | 105.3% | 90.6% | 4.9% | 2.1% |
| 15 Years | +2.37 | 1.03 | 105.3% | 90.6% | 3.9% | 1.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 5.18% |
| 2 | Solar Industries India Limited | 4.48% |
| 3 | HDFC Bank Limited | 4.45% |
| 4 | Vedanta Aluminium Metal Limited | 4.42% |
| 5 | Reliance Industries Limited | 4.36% |
| 6 | KRN Heat Exchanger And Refrigeration Limited | 4.18% |
| 7 | Wockhardt Limited | 3.94% |
| 8 | Multi Commodity Exchange of India Limited | 3.91% |
| 9 | Fortis Healthcare Limited | 3.62% |
| 10 | State Bank of India | 3.55% |