Mirae Asset Flexi Cap Fund
Direct · GrowthAI Summary
Mirae Asset Flexi Cap Fund has delivered consistent alpha over the NIFTY 50 across all measured periods, with 3Y alpha of 6.65% (Fund CAGR 11.56% vs benchmark 4.9%) and 1Y alpha of 9.47%. Its 1Y SIP XIRR of 10.44% beats the category average of 9.64%, though the 3Y XIRR of 9.16% trails the category's 14.86%. Lump-sum rolling 3Y returns of 14.8% indicate solid long-term compounding.
The fund shows a beta near 1 (0.97-0.99) with notably lower downside capture (86-93%) than upside capture (99-101%), meaning it loses less than the index in declines while keeping pace in rallies. Maximum drawdown was a modest -0.16% with an 81-day recovery, and only 2 drawdown events exceeded 10%. Calmar ratios of 0.98 (1Y) and 0.91 (3Y) reflect healthy risk-adjusted returns.
No individual holdings or sector allocation data was provided for this analysis. As a flexi cap fund, it has the mandate to allocate across large, mid, and small caps based on market conditions, which typically supports diversification. Investors should review the current portfolio disclosures for concentration details.
The fund outperforms the category on 1Y SIP XIRR (10.44% vs 9.64%) but underperforms on 3Y XIRR (9.16% vs 14.86%), suggesting recent SIP performance is relatively stronger than the medium-term trend. Its consistent positive alpha versus the NIFTY 50 across 1Y through 15Y horizons points to dependable active management. The low expense ratio of 0.51% is competitive for the category.
This fund suits investors seeking diversified equity exposure with a market-like risk profile but better downside protection, ideally with a 5+ year horizon. It is appropriate for SIP investors who value steady alpha generation and moderate volatility. Those expecting category-leading returns over every window may be disappointed given the 3Y XIRR gap versus peers.
- Consistent positive alpha over NIFTY 50 across all time horizons from 1Y to 15Y, including 6.65% over 3Y
- Favorable asymmetry with downside capture of 86.47% (1Y) versus upside capture of 99.15%, cushioning market declines
- Low expense ratio of 0.51% and shallow maximum drawdown of -0.16% with quick 81-day recovery
- 3Y SIP XIRR of 9.16% significantly trails the category average of 14.86%
- 2026 calendar year return of -5.05% shows the fund is not immune to weak market phases
Generated on 13-10-2026, 3:13 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 | 15.1% | -17.2% | 44.4% |
| 3 Years | ₹36.00 L | ₹41.03 L | 9.5% | 3.8% | 17.3% |
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 | 15.1% | 14.3% | 9.6% | +0.8% |
| 3 Years | 9.5% | 11.0% | 14.8% | -1.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.6% | 10.6% | -1.8% | 40.4% | 0.72 | 4.45 | 97% | — | — |
| 3 Years | 14.6% | 14.6% | 10.9% | 18.8% | 4.15 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.65 | 0.96 | 97.3% | 85.9% | -2.0% | -11.4% |
| 3 Years | +6.12 | 0.98 | 100.1% | 92.2% | 11.4% | 5.3% |
| 5 Years | +4.68 | 0.97 | 99.5% | 90.5% | 10.4% | 5.8% |
| 7 Years | +3.21 | 0.97 | 99.5% | 90.5% | 7.4% | 4.1% |
| 10 Years | +2.16 | 0.97 | 99.5% | 90.5% | 5.1% | 2.8% |
| 12 Years | +1.76 | 0.97 | 99.5% | 90.5% | 4.2% | 2.4% |
| 15 Years | +1.37 | 0.97 | 99.5% | 90.5% | 3.4% | 1.9% |