ITI Pharma and Healthcare Fund
Direct · GrowthAI Summary
ITI Pharma and Healthcare Fund has delivered strong SIP returns, with 1Y and 3Y XIRR of 14.75% and 20.1% beating the category averages of 10.68% and 16.26%, though the 5Y XIRR of 16.01% trails the category's 17.46%. Against the NIFTY 50, the fund shows consistent alpha across all periods, including 11.56% alpha over 3Y and 7.63% over 5Y. Lump-sum performance is also solid, with 3Y rolling returns averaging 21.7% versus a 3Y fund CAGR of 17.3%.
The fund exhibits low beta of 0.55-0.62 against the NIFTY 50 and a favorable downside capture of 45.96% over 1Y, indicating it has fallen significantly less than the benchmark during declines. Risk-adjusted returns are healthy, with Calmar ratios of 1.09 (1Y) and 1.23 (3Y). However, the maximum drawdown duration of 155 days with a 364-day recovery suggests investors should be prepared for extended recovery periods after sharp sector corrections.
The portfolio is concentrated in pharma, with Sun Pharma (12.58%) and Divi's Laboratories (9.23%) as the top positions, and Pharmaceuticals & Biotechnology accounting for 70.3% of assets. Healthcare Services adds 22.7%, led by Apollo Hospitals and Max Healthcare, providing some intra-sector diversification. With 35 total holdings, the fund is reasonably diversified at the stock level but remains a pure-play healthcare bet.
The fund outperforms the category on SIP XIRR over 1Y and 3Y, though it lags on the 5Y horizon (16.01% vs 17.46%), suggesting its recent performance is stronger than its longer-term record. Calendar year returns show high dispersion, ranging from +43.59% in 2024 to -8.79% in 2025, typical of sector funds. The consistent positive alpha across 1Y through 15Y horizons indicates durable stock selection relative to the broad market.
This fund suits investors who already hold diversified equity funds and want tactical exposure to the healthcare sector, ideally with a 5-7 year horizon to ride out sector cycles. It requires moderate-to-high risk tolerance given the concentration in a single sector and the volatility evident in calendar year swings. A SIP approach is advisable to smooth entry points, as evidenced by the fund's stronger SIP XIRR versus lump-sum CAGR in recent periods.
- 3Y SIP XIRR of 20.1% outpaces the category average of 16.26% by nearly 4 percentage points
- Low beta (0.55-0.62) and downside capture below 56% across horizons show strong downside resilience versus NIFTY 50
- Consistent positive alpha over every measured period, including 11.56% over 3Y and 7.63% over 5Y
- Heavy sector concentration with 70.3% in Pharmaceuticals & Biotechnology makes the fund vulnerable to sector-specific headwinds such as USFDA actions or pricing pressure
- 5Y SIP XIRR of 16.01% trails the category average of 17.46%, indicating weaker long-term relative performance
- Extended recovery from max drawdown (364 days) and negative calendar year returns in 2022 and 2025 highlight meaningful downside episodes
Generated on 23-10-2026, 2:57 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 | ₹12.68 L | 20.7% | -15.6% | 72.3% |
| 3 Years | ₹36.00 L | ₹47.81 L | 20.4% | 6.0% | 37.7% |
| 5 Years | ₹60.00 L | ₹87.59 L | 15.7% | 14.4% | 17.0% |
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 | 20.7% | 14.3% | 10.6% | +6.5% |
| 3 Years | 20.4% | 11.0% | 16.2% | +9.4% |
| 5 Years | 15.7% | 10.4% | 17.4% | +5.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.1% | 15.5% | -9.3% | 62.2% | 0.63 | 2.54 | 78% | — | — |
| 3 Years | 21.7% | 21.4% | 17.3% | 26.9% | 8.06 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.80 | 0.55 | 60.9% | 46.6% | 4.8% | -12.4% |
| 3 Years | +12.65 | 0.61 | 73.0% | 54.4% | 19.1% | 6.5% |
| 5 Years | +7.73 | 0.58 | 64.5% | 51.7% | 13.2% | 4.7% |
| 7 Years | +4.58 | 0.58 | 64.5% | 51.7% | 9.2% | 3.3% |
| 10 Years | +2.30 | 0.58 | 64.5% | 51.7% | 6.4% | 2.3% |
| 12 Years | +1.44 | 0.58 | 64.5% | 51.7% | 5.3% | 1.9% |
| 15 Years | +0.57 | 0.58 | 64.5% | 51.7% | 4.2% | 1.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Sun Pharmaceutical Industries Limited | 12.58% |
| 2 | Divi's Laboratories Limited | 9.23% |
| 3 | Apollo Hospitals Enterprise Limited | 5.72% |
| 4 | Max Healthcare Institute Limited | 4.84% |
| 5 | Torrent Pharmaceuticals Limited | 4.75% |
| 6 | Dr. Reddy's Laboratories Limited | 4.31% |
| 7 | Cipla Limited | 4.22% |
| 8 | Laurus Labs Limited | 4.02% |
| 9 | Aurobindo Pharma Limited | 3.97% |
| 10 | Mankind Pharma Limited | 3.31% |