Mahindra Manulife Consumption Fund
Direct · GrowthAI Summary
Mahindra Manulife Consumption Fund has delivered a 3Y SIP XIRR of 17.21% and 5Y of 18.09%, beating the thematic category averages of 16.44% and 16.81% respectively. However, its 1Y XIRR of 7.07% trails the category average of 11.75%, and its 7Y XIRR of 14.23% lags the category's 16.69%. Recent calendar year returns have weakened, with 2025 at just 1.95% and 2026 at -8.0%.
The fund shows a maximum drawdown of -0.34% with a 46-day duration, though it took 256 days to recover, and it has experienced 4 drawdown events exceeding 10%. Calmar ratios of 0.53 (3Y) and 0.53 (5Y) indicate reasonable risk-adjusted returns over medium horizons, but the 7Y Calmar of 0.41 reflects weaker efficiency over longer periods. The negative 2026 return of -8.0% highlights the volatility inherent in a thematic consumption bet.
As a thematic consumption fund, the portfolio is concentrated in consumer-facing sectors such as FMCG, retail, autos, and consumer services, which limits diversification versus diversified equity funds. This sector focus means performance is closely tied to consumption cycles rather than broad market trends. No individual holding data was provided, so stock-level concentration cannot be assessed here.
The fund outperforms the category on 3Y and 5Y SIP XIRR but underperforms on both 1Y (7.07% vs 11.75%) and 7Y (14.23% vs 16.69%) horizons, suggesting strong mid-period performance that has faded recently. Calendar year returns show high dispersion, ranging from 29.22% in 2023 to 1.07% in 2019, indicating inconsistent year-to-year delivery. Its recent two-year stretch of weak returns places it below peers in the near term.
This fund suits investors with a high risk tolerance and a 5-7 year horizon who already hold diversified core funds and want a tactical consumption-themed satellite allocation. Given the recent underperformance and thematic concentration risk, it should represent only a modest portion of a portfolio. Investors should be prepared for extended periods of underperformance when consumption cycles turn.
- 3Y SIP XIRR of 17.21% and 5Y of 18.09% beat the thematic category averages of 16.44% and 16.81%
- Low maximum drawdown of -0.34% with a short 46-day drawdown duration
- Strong calendar year returns in 2023 (29.22%) and 2024 (23.13%) demonstrate upside capture during favorable consumption cycles
- 1Y XIRR of 7.07% significantly trails the category average of 11.75%, and 7Y XIRR of 14.23% also lags the category's 16.69%
- Thematic concentration in consumption sectors creates cyclical risk, evident in the -8.0% return in 2026 and just 1.95% in 2025
Generated on 17-10-2026, 2:15 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 | ₹12.69 L | 16.1% | -49.7% | 67.4% |
| 3 Years | ₹36.00 L | ₹46.46 L | 17.6% | -1.5% | 36.8% |
| 5 Years | ₹60.00 L | ₹93.01 L | 18.1% | 7.0% | 29.9% |
| 7 Years | ₹84.00 L | ₹1.36 Cr | 14.4% | 10.9% | 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 | 16.1% | 11.7% |
| 3 Years | 17.6% | 16.4% |
| 5 Years | 18.1% | 16.8% |
| 7 Years | 14.4% | 16.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.3% | 10.9% | -27.1% | 66.0% | 0.48 | 1.38 | 81% | — | — |
| 3 Years | 17.8% | 17.9% | 7.9% | 27.4% | 2.55 | — | 100% | — | — |
| 5 Years | 17.9% | 17.7% | 9.8% | 25.5% | 2.97 | — | 100% | — | — |