Kotak Flexi Cap Fund
Direct · GrowthAI Summary
Kotak Flexi Cap Fund has delivered consistent long-term SIP XIRR of 15.25% over 12 years and 15.51% over 10 years, outpacing the NIFTY 50's lump-sum CAGR across all periods. Against category peers, its 1Y XIRR of 10.87% leads the category average of 9.47%, and its 3Y XIRR of 16.17% tops the 14.72% average, though 5Y (15.86%) and 10Y (15.51%) XIRR sit marginally below category averages of 16.08% and 15.96%. The fund's alpha is positive across all periods, ranging from 2.54% (10Y) to 4.89% (3Y), indicating steady benchmark outperformance.
The fund shows a defensive risk profile with downside capture consistently below 100%, improving from 95.04% at 1Y and 3Y to 89.93% at 15Y, meaning it falls less than the NIFTY 50 in declining markets. Beta trends down from around 1.02-1.03 in short windows to 0.93-0.95 over longer periods, suggesting reduced market sensitivity over time. With 10 drawdown events exceeding 10% over its history, meaningful interim losses remain possible despite favorable Calmar ratios of roughly 0.41-0.49 across all durations.
As a flexi cap fund with a sub-1% expense ratio of 0.59% on the Direct Growth plan, the scheme has the flexibility to allocate across large, mid, and small caps based on market conditions. The multi-cap positioning is reflected in its evolving capture ratios, with stronger downside protection in longer windows indicating dynamic allocation away from concentrated index-like exposure in softer markets. Specific top holdings and sector splits are not provided in this dataset, so conclusions on concentration should be drawn from the fund's published portfolio.
The fund outperforms the category average SIP XIRR in the 1Y (10.87% vs 9.47%) and 3Y (16.17% vs 14.72%) windows, while trailing slightly in the 5Y (15.86% vs 16.08%) and 10Y (15.51% vs 15.96%) windows and essentially matching the 12Y figure (15.25% vs 15.16%). Calendar year returns show good consistency, with only 2016 and 2026 negative at -7.18% and -7.18%, and strong years like 35.3% in 2017 and 58.95% in 2014. This balance of above-average recent performance and comparable long-term results places it as a reliable performer among flexi cap peers.
This fund suits investors seeking diversified market-cap-flexible exposure with a long horizon of 5-7 years or more, ideally via SIP given the demonstrated XIRR consistency across 3Y to 12Y windows. Its asymmetric capture profile (upside around 100% or higher in short windows, downside as low as 89.93% over 15Y) fits investors who want to participate in rallies while cushioning downturns moderately. It is not ideal for conservative investors needing capital preservation, as 10 drawdown events above 10% and the 2026 calendar return of -7.18% show real drawdown risk.
- Positive alpha versus NIFTY 50 in every period shown, from 2.54% (10Y) to 4.89% (3Y)
- Downside capture below 100% across all periods, improving from 95.04% at 1Y to 89.93% at 15Y
- Above-category-average SIP XIRR in the 1Y (10.87% vs 9.47%) and 3Y (16.17% vs 14.72%) windows
- Low direct-plan expense ratio of 0.59% for cost-efficient long-term compounding
- 5Y and 10Y SIP XIRR (15.86% and 15.51%) slightly trail category averages of 16.08% and 15.96%
- Recent weakness: 2026 calendar year return of -7.18% and a 1Y fund CAGR of -6.88% versus the benchmark's -10.92%
- Ten drawdown events exceeding 10% historically, indicating sizable interim losses during market stress
Generated on 03-11-2026, 4:35 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 | ₹12.84 L | 18.9% | -56.8% | 83.7% |
| 3 Years | ₹36.00 L | ₹45.60 L | 15.8% | -19.5% | 29.9% |
| 5 Years | ₹60.00 L | ₹87.33 L | 15.3% | -5.7% | 25.2% |
| 7 Years | ₹84.00 L | ₹1.43 Cr | 15.1% | 2.4% | 20.9% |
| 10 Years | ₹1.20 Cr | ₹2.68 Cr | 15.5% | 11.9% | 18.4% |
| 12 Years | ₹1.44 Cr | ₹3.88 Cr | 15.3% | 12.3% | 17.8% |
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 | 18.9% | 14.3% | 9.5% | +4.6% |
| 3 Years | 15.8% | 11.0% | 14.7% | +4.7% |
| 5 Years | 15.3% | 10.4% | 16.1% | +4.9% |
| 7 Years | 15.1% | 10.6% | 15.5% | +4.5% |
| 10 Years | 15.5% | 11.4% | 15.9% | +4.1% |
| 12 Years | 15.3% | 11.3% | 15.2% | +3.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.3% | 13.7% | -30.0% | 89.3% | 0.62 | 2.28 | 88% | — | — |
| 3 Years | 16.4% | 16.6% | -4.2% | 31.5% | 1.74 | 8.70 | 99% | — | — |
| 5 Years | 15.7% | 15.8% | 2.3% | 27.0% | 2.10 | 39.09 | 100% | — | — |
| 10 Years | 16.0% | 16.0% | 12.4% | 19.1% | 5.75 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +3.03 | 1.01 | 98.9% | 94.9% | 1.2% | -1.7% |
| 3 Years | +4.15 | 1.01 | 100.2% | 95.0% | 13.3% | 9.1% |
| 5 Years | +3.83 | 0.99 | 99.2% | 94.6% | 11.0% | 7.2% |
| 7 Years | +3.02 | 0.94 | 95.6% | 92.2% | 14.1% | 11.3% |
| 10 Years | +2.57 | 0.95 | 95.6% | 92.6% | 14.1% | 11.8% |
| 12 Years | +4.04 | 0.94 | 95.5% | 90.7% | 13.5% | 9.7% |
| 15 Years | +4.41 | 0.93 | 95.5% | 89.9% | 14.2% | 10.1% |