ITI Multi Cap Fund
Direct · GrowthAI Summary
ITI Multi Cap Fund has delivered strong SIP XIRR of 19.85% over 3Y and 19.96% over 5Y, beating the category average of 14.98% and 18.62% respectively. Against the NIFTY 50, the fund shows positive alpha across all periods, including 11.36% over 3Y and 8.12% over 5Y, with the fund's 3Y CAGR of 16.06% far outpacing the benchmark's 4.78%. However, the 7Y SIP XIRR of 17.21% trails the category average of 18.14%, indicating its edge is more recent.
The fund demonstrates favorable downside behavior with downside capture of 80.69% (1Y) and 84.31% (7Y) versus upside capture above 100% in recent periods, meaning it falls less than the benchmark while participating more in rallies. Beta has declined from 1.04 over 3Y to 0.89 over longer windows, showing reduced volatility relative to the market over time. The Calmar Ratio remains steady around 0.48 across 1Y to 5Y windows, though 3 drawdown events exceeding 10% and a 280-day recovery from max drawdown highlight meaningful interim volatility.
The portfolio is well diversified across 74 holdings with the top position, ICICI Bank, at just 3.71% of NAV, limiting single-stock risk. Banks is the largest sector at 15.6%, followed by Electrical Equipment at 8.8% and Pharmaceuticals at 8.4%, providing a balanced spread across financials, industrials, and defensives. Notable positions include growth-oriented names like TD Power Systems, Avalon Technologies, and One 97 Communications alongside large-cap anchors HDFC Bank and Reliance Industries.
The fund outperforms the category on SIP XIRR over 1Y (15.78% vs 11.47%) and 3Y (19.85% vs 14.98%), but lags over 5Y (19.96% vs 18.62% is actually ahead) and 7Y (17.21% vs 18.14%). Calendar year returns show inconsistency, ranging from a strong 40.35% in 2023 to modest 3.63% in 2025 and 3.66% in 2022. The recent outperformance streak is impressive, but the 7Y category lag suggests the fund's alpha is concentrated in the last few years.
This fund suits investors seeking diversified equity exposure across market capitalizations with a proven ability to limit downside relative to the NIFTY 50. A minimum horizon of 5-7 years is appropriate given the drawdown history and calendar-year variability, and investors should tolerate interim declines exceeding 10%. It works well as a core multi cap holding for moderate-to-high risk tolerance investors who value downside protection.
- Consistently positive alpha versus NIFTY 50 across all measured periods, from 20.63% over 1Y to 2.57% over 15Y
- Low downside capture (80.69% over 1Y, 84.31% over 7Y) with upside capture above 100% in recent periods, indicating asymmetric risk-reward
- Well-diversified 74-stock portfolio with the largest holding at only 3.71% of NAV and a low 0.33% expense ratio
- 7Y SIP XIRR of 17.21% trails the category average of 18.14%, showing the fund's outperformance is concentrated in recent years
- Highly variable calendar-year returns, from 40.35% in 2023 to 3.63% in 2025, and 3 drawdown events exceeding 10% with a 280-day recovery from max drawdown
Generated on 17-10-2026, 2:14 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 | ₹12.77 L | 19.7% | -51.1% | 90.4% |
| 3 Years | ₹36.00 L | ₹45.41 L | 18.6% | 4.0% | 38.4% |
| 5 Years | ₹60.00 L | ₹93.38 L | 20.1% | 11.1% | 29.2% |
| 7 Years | ₹84.00 L | ₹1.53 Cr | 17.1% | 14.0% | 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 | 19.7% | 14.3% | 11.4% | +5.5% |
| 3 Years | 18.6% | 11.0% | 14.9% | +7.5% |
| 5 Years | 20.1% | 10.4% | 18.6% | +9.7% |
| 7 Years | 17.1% | 10.6% | 18.1% | +6.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.7% | 10.2% | -17.2% | 84.9% | 0.54 | 1.94 | 76% | — | — |
| 3 Years | 19.0% | 20.6% | 6.3% | 28.3% | 2.70 | — | 100% | — | — |
| 5 Years | 18.6% | 18.9% | 12.6% | 26.5% | 3.53 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +18.10 | 0.96 | 102.4% | 80.0% | 9.2% | -9.5% |
| 3 Years | +10.34 | 1.04 | 106.5% | 93.7% | 15.8% | 5.5% |
| 5 Years | +7.96 | 0.95 | 98.0% | 88.2% | 12.7% | 4.6% |
| 7 Years | +5.44 | 0.89 | 90.7% | 84.3% | 15.6% | 10.6% |
| 10 Years | +4.08 | 0.89 | 91.1% | 84.3% | 11.3% | 7.3% |
| 12 Years | +3.23 | 0.89 | 91.1% | 84.3% | 9.3% | 6.1% |
| 15 Years | +2.40 | 0.89 | 91.1% | 84.3% | 7.4% | 4.8% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 3.71% |
| 2 | TD Power Systems Limited | 3.12% |
| 3 | HDFC Bank Limited | 2.93% |
| 4 | Reliance Industries Limited | 2.90% |
| 5 | Avalon Technologies Limited | 2.35% |
| 6 | One 97 Communications Limited | 2.10% |
| 7 | Aditya Infotech Limited | 2.08% |
| 8 | Multi Commodity Exchange of India Limited | 2.04% |
| 9 | Bharti Airtel Limited | 1.87% |
| 10 | Larsen & Toubro Limited | 1.70% |