Mirae Asset Multicap Fund
Direct · GrowthAI Summary
Mirae Asset Multicap Fund has delivered consistent alpha over the NIFTY 50 across all time horizons, with a 3Y alpha of 7.45% and a 3Y fund CAGR of 12.4% versus the benchmark's 4.9%. However, its SIP XIRR of 8.74% over 3Y trails the category average of 15.0%, indicating recent SIP investors have experienced weaker returns than peers. The 1Y XIRR of 8.75% also lags the category average of 11.47%, reflecting a challenging recent period.
The fund shows strong downside protection with a downside capture of 86.91% over 1Y and 89.55% over 3Y, meaning it falls less than the benchmark during declines. Only 2 drawdown events exceeded 10%, with a maximum drawdown of -18.16% that recovered in 118 days over a 154-day duration. Calmar ratios of 0.66 (1Y) and 0.76 (3Y) suggest reasonable risk-adjusted returns relative to drawdown depth.
Detailed holdings and sector allocation data were not provided in this dataset, so specific concentration analysis cannot be offered. As a multicap fund, it is mandated to hold a diversified mix across large, mid, and small caps, which supports broad market exposure. Investors should review the latest factsheet for current top holdings and sector weights.
While the fund beats the NIFTY 50 benchmark consistently, its SIP XIRR of 8.74% (3Y) sits well below the category average of 15.0%, suggesting peer funds have generated stronger SIP outcomes recently. The persistent positive alpha across 1Y to 15Y horizons demonstrates long-term consistency in stock selection. The gap versus category averages is the main relative weakness to monitor.
This fund suits investors seeking diversified multicap exposure with lower downside capture than the index and a low 0.4% expense ratio. A horizon of at least 5-7 years is appropriate given the multicap mandate and recent soft SIP returns. It fits investors with moderate risk tolerance who value benchmark-beating alpha over chasing top category ranks.
- Consistent positive alpha versus NIFTY 50 across all horizons, including 7.45% over 3Y and 4.62% over 5Y
- Strong downside protection with downside capture below 90% across all measured periods
- Low expense ratio of 0.4% for a Direct plan, enhancing net returns
- 3Y SIP XIRR of 8.74% significantly trails the category average of 15.0%
- 2026 calendar year return of -4.36% indicates weak recent momentum
Generated on 13-10-2026, 3:12 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 | ₹12.58 L | 11.9% | -20.9% | 52.3% |
| 3 Years | ₹36.00 L | ₹41.46 L | 9.0% | 4.0% | 11.0% |
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 | 11.9% | 14.3% | 11.4% | -2.4% |
| 3 Years | 9.0% | 11.0% | 14.9% | -2.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 11.8% | 8.4% | -2.9% | 43.4% | 0.46 | 2.09 | 96% | — | — |
| 3 Years | 13.6% | 13.5% | 11.6% | 16.0% | 5.39 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +7.28 | 0.97 | 96.4% | 86.5% | -3.5% | -11.4% |
| 3 Years | +6.62 | 0.97 | 98.1% | 89.7% | 11.9% | 5.3% |
| 5 Years | +4.34 | 0.96 | 98.7% | 89.1% | 7.8% | 3.3% |
| 7 Years | +2.98 | 0.96 | 98.7% | 89.1% | 5.5% | 2.4% |
| 10 Years | +1.99 | 0.96 | 98.7% | 89.1% | 3.8% | 1.6% |
| 12 Years | +1.61 | 0.96 | 98.7% | 89.1% | 3.2% | 1.4% |
| 15 Years | +1.24 | 0.96 | 98.7% | 89.1% | 2.5% | 1.1% |