Mirae Asset Flexi Cap Fund

Mirae Asset Flexi Cap Fund has delivered a 1-year SIP XIRR of 15.95%, slightly above the category average of 15.6%, but its 3-year XIRR of 10.14% trails the category average of 14.89% by a notable margin. Over longer lump-sum horizons, the fund has consistently outperformed the NIFTY 50, with 3-year rolling returns of 15.42% versus the benchmark's 7.75% CAGR, and positive alpha across all periods from 1 to 15 years. However, the fund's 1-year point-to-point CAGR of 5.25% is modest, though it still beats the benchmark's -2.9%.

The fund exhibits moderate volatility with a beta near 1.0 relative to the NIFTY 50, but its downside capture is consistently below 100% (ranging from 89% to 93%), indicating it loses less than the market in downturns. Maximum drawdown is shallow at -0.16%, with a recovery time of just 81 days, and the Calmar ratio of 1.02 over 1 year and 0.96 over 3 years suggests reasonable risk-adjusted returns. The fund has experienced only 2 drawdown events exceeding 10%, reflecting relatively stable performance.

The fund is a flexi cap strategy, allowing it to invest across market capitalizations, which provides diversification and flexibility. While specific top holdings and sector weights are not provided, the fund's low expense ratio of 0.51% and its ability to navigate different market conditions suggest a well-managed, diversified portfolio. The fund's consistent upside capture of around 100% and downside capture below 95% indicate a balanced approach to growth and protection.

The fund's 1-year XIRR is in line with the category average, but its 3-year XIRR significantly underperforms the category, suggesting recent underperformance relative to peers. Calendar year returns show strong performance in 2023 (30.89%) and 2024 (18.87%), but a sharp decline in 2026 (-0.44%) and a modest 9.86% in 2025, indicating volatility in recent years. Despite this, the fund has consistently beaten the benchmark across all time frames, though its alpha has diminished over longer horizons, from 7.98% (1Y) to 1.35% (15Y).

This fund is suitable for investors with a medium-to-long-term horizon (3-5 years or more) who seek equity growth with some downside protection, given its lower downside capture and shallow drawdowns. It is appropriate for those who can tolerate moderate volatility and are looking for a flexi cap fund that can adapt to market conditions. Investors should be aware of the recent 3-year underperformance versus the category and consider their own risk tolerance before investing.

• Consistent outperformance over the NIFTY 50 across all time periods, with positive alpha from 1.35% (15Y) to 7.98% (1Y).
• Strong downside protection with downside capture below 95% across all horizons, reducing losses in bear markets.
• Low expense ratio of 0.51% (Direct plan) enhances net returns for investors.

• 3-year SIP XIRR of 10.14% significantly lags the category average of 14.89%, indicating recent underperformance versus peers.
• Calendar year 2026 has started with a negative return of -0.44%, and 2025's 9.86% was below the category's typical performance, suggesting inconsistent recent returns.