Mahindra Manulife Consumption Fund
Direct · GrowthAI Summary
Mahindra Manulife Consumption Fund has delivered a 3Y SIP XIRR of 18.18% and 5Y SIP XIRR of 18.61%, outperforming the category averages of 17.72% and 17.04% respectively. However, its 7Y SIP XIRR of 14.71% trails the category average of 18.51%, indicating weaker longer-term performance. Calendar year returns show high variability, ranging from 29.22% in 2023 to just 1.95% in 2025 and -0.72% in 2026.
The fund shows a modest maximum drawdown of -0.34% with a 46-day drawdown duration, though recovery took 256 days, and it has experienced 4 drawdown events exceeding 10%. Calmar ratios of 0.53 (3Y) and 0.54 (5Y) suggest reasonable risk-adjusted returns over medium horizons, but the 7Y Calmar of 0.40 reflects weaker longer-term efficiency. Investors should note that drawdown metrics can understate thematic fund risk given concentrated sector exposure.
The top 10 holdings account for roughly 43% of the portfolio across 45 total stocks, led by Mahindra & Mahindra (6.55%), Bharti Airtel (6.49%), and Eternal (5.48%). Sector concentration is significant, with Retailing (17.7%), Automobiles (16.5%), and Consumer Durables (12.7%) dominating the book. This is typical of a consumption thematic fund but means performance is closely tied to Indian consumer and auto sector cycles.
The fund beats category average SIP XIRR over 1Y (16.48% vs 15.91%), 3Y (18.18% vs 17.72%), and 5Y (18.61% vs 17.04%) horizons. Its underperformance over 7Y (14.71% vs 18.51%) suggests recent outperformance rather than sustained long-term leadership. The mixed calendar year record, with strong years in 2023-2024 but weak 2025-2026, points to cyclical rather than consistent results.
This fund suits investors with high risk tolerance seeking thematic exposure to India's consumption story, ideally as a satellite holding of 5-10% of the equity portfolio rather than a core fund. A horizon of at least 5-7 years is recommended to ride out sector cycles, as evidenced by the weak 2025-2026 returns. Investors uncomfortable with concentrated sector bets and uneven year-to-year returns should prefer diversified flexicap alternatives.
- Consistent outperformance of category average SIP XIRR over 1Y, 3Y, and 5Y horizons, with the 5Y XIRR of 18.61% beating the category by 1.57 percentage points
- Low maximum drawdown of -0.34% with a short 46-day drawdown duration indicates contained recent downside
- Well-diversified 45-stock portfolio with quality consumption leaders like Titan, Trent, and Avenue Supermarts providing exposure to multiple consumption themes
- Significant 7Y underperformance with SIP XIRR of 14.71% versus the category average of 18.51%, a gap of nearly 4 percentage points
- High sector concentration in Retailing (17.7%) and Automobiles (16.5%) makes returns vulnerable to consumer demand and auto sector downturns, as reflected in weak 2025 (1.95%) and 2026 (-0.72%) returns
Generated on 01-09-2026, 2:50 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 | ₹12.74 L | 16.5% | -49.7% | 67.4% |
| 3 Years | ₹36.00 L | ₹46.55 L | 18.2% | -1.3% | 36.8% |
| 5 Years | ₹60.00 L | ₹93.61 L | 18.6% | 7.2% | 29.9% |
| 7 Years | ₹84.00 L | ₹1.38 Cr | 14.7% | 11.1% | 18.2% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | Category avg |
|---|---|---|
| 1 Year | 16.5% | 15.9% |
| 3 Years | 18.2% | 17.7% |
| 5 Years | 18.6% | 17.0% |
| 7 Years | 14.7% | 18.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.9% | 11.3% | -27.1% | 66.0% | 0.51 | 1.52 | 83% | — | — |
| 3 Years | 18.1% | 18.0% | 9.6% | 27.4% | 2.72 | — | 100% | — | — |
| 5 Years | 18.3% | 18.1% | 11.4% | 25.5% | 3.31 | — | 100% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | Mahindra & Mahindra Limited | 6.55% |
| 2 | Bharti Airtel Limited | 6.49% |
| 3 | Eternal Limited | 5.48% |
| 4 | Titan Company Limited | 4.69% |
| 5 | Trent Limited | 3.64% |
| 6 | Bajaj Auto Limited | 3.48% |
| 7 | ITC Limited | 3.40% |
| 8 | Maruti Suzuki India Limited | 3.39% |
| 9 | Hindustan Unilever Limited | 3.34% |
| 10 | Avenue Supermarts Limited | 3.01% |