ITI Large Cap Fund
Direct · GrowthAI Summary
ITI Large Cap Fund has delivered strong alpha over the NIFTY 50, with a 3Y Fund CAGR of 11.95% versus the benchmark's 7.75% and a 3Y alpha of 4.07%. Its 3Y SIP XIRR of 15.79% also beats the category average of 14.28%, though the 1Y XIRR of 12.21% trails the category's 14.08%. Longer-term outperformance is modest, with 10Y alpha of just 1.17%.
The fund shows only 2 drawdown events greater than 10%, with a maximum drawdown of -20.76% that took 245 days to bottom and 361 days to recover, indicating meaningful but typical large cap downside. Calmar ratios of 0.7562 (3Y) and 0.5515 (5Y) reflect moderate risk-adjusted returns. Beta above 1 in recent periods (1.10 at 3Y) with downside capture of 104.04% means it has amplified both up and down moves recently.
The portfolio is concentrated in financials, with Banks at 25.1% and Finance at 11.2%, meaning over a third of assets are in financial sector stocks. Top holdings include ICICI Bank (6.77%), HDFC Bank (6.18%), and Bharti Airtel (5.9%), with 44 total holdings providing reasonable single-stock diversification. The large cap orientation is evident, anchored by established names like Reliance Industries, SBI, and L&T.
The fund's 3Y SIP XIRR of 15.79% outpaces the category average of 14.28%, but its 1Y (12.21% vs 14.08%) and 5Y (10.76% vs 14.04%) XIRR figures lag peers, suggesting outperformance is concentrated in the medium term. Calendar year returns show volatility, ranging from -2.73% in 2026 to 25.81% in 2023. Its consistent positive alpha across all measured periods from 1Y to 15Y indicates genuine benchmark-beating ability over time.
This fund suits investors seeking large cap exposure with a benchmark-beating tilt and a moderate risk appetite, given its beta near 1 and typical large cap drawdowns. A time horizon of at least 5 years is advisable, as 5Y returns (10.76% XIRR) have been below category averages while 3Y results are strong. Investors should be comfortable with financial sector concentration exceeding 36% of the portfolio.
- Consistent positive alpha versus NIFTY 50 across all periods from 1Y to 15Y, including 4.07% alpha over 3Y
- 3Y SIP XIRR of 15.79% beats the category average of 14.28%
- Low expense ratio of 0.52% for a Direct large cap fund, supporting net returns
- Heavy sector concentration in financials, with Banks (25.1%) and Finance (11.2%) together exceeding 36% of NAV
- 1Y and 5Y SIP XIRR trail category averages (12.21% vs 14.08% and 10.76% vs 14.04%), indicating inconsistent peer-relative performance
- Recent downside capture above 100% (104.04% at 3Y) means the fund has fallen slightly more than the benchmark in down markets
Generated on 11-09-2026, 3:24 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 | ₹12.54 L | 12.2% | -25.7% | 52.9% |
| 3 Years | ₹36.00 L | ₹44.86 L | 15.8% | -1.0% | 28.8% |
| 5 Years | ₹60.00 L | ₹76.67 L | 10.8% | 5.9% | 14.5% |
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 | 12.2% | 14.4% | 14.1% | -2.2% |
| 3 Years | 15.8% | 11.1% | 14.3% | +4.7% |
| 5 Years | 10.8% | 10.4% | 14.0% | +0.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 12.3% | 6.6% | -9.0% | 45.5% | 0.39 | 1.18 | 78% | — | — |
| 3 Years | 15.7% | 15.8% | 10.4% | 22.1% | 3.60 | — | 100% | — | — |
| 5 Years | 11.4% | 11.0% | 9.3% | 14.8% | 3.89 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +5.80 | 1.10 | 109.3% | 102.5% | 2.0% | -2.9% |
| 3 Years | +4.07 | 1.10 | 108.8% | 104.0% | 11.9% | 7.8% |
| 5 Years | +2.66 | 1.03 | 102.2% | 99.0% | 10.5% | 7.8% |
| 7 Years | +1.74 | 0.99 | 99.4% | 96.8% | 9.8% | 8.1% |
| 10 Years | +1.17 | 0.99 | 99.4% | 96.8% | 6.8% | 5.6% |
| 12 Years | +0.96 | 0.99 | 99.4% | 96.8% | 5.6% | 4.7% |
| 15 Years | +0.75 | 0.99 | 99.4% | 96.8% | 4.5% | 3.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 6.77% |
| 2 | HDFC Bank Limited | 6.18% |
| 3 | Bharti Airtel Limited | 5.90% |
| 4 | State Bank of India | 4.84% |
| 5 | Reliance Industries Limited | 4.66% |
| 6 | Axis Bank Limited | 4.47% |
| 7 | Larsen & Toubro Limited | 4.47% |
| 8 | Bajaj Finance Limited | 4.14% |
| 9 | Mahindra & Mahindra Limited | 3.11% |
| 10 | Kotak Mahindra Bank Limited | 2.82% |