Mirae Asset Multicap Fund

The Mirae Asset Multicap Fund has delivered a 1-year XIRR of 12.44% and a 3-year XIRR of 10.31%, which are below the category averages of 15.06% and 16.01% respectively. Over the same periods, the fund has outperformed the NIFTY 50 benchmark, with a 1-year alpha of 8.71% and a 3-year alpha of 7.96%, while the benchmark's 1-year CAGR was -2.9% and 3-year CAGR was 7.5%. The fund's 1-year rolling return mean of 12.56% is slightly higher than its 1-year XIRR, indicating consistent performance over the past year.

The fund exhibits moderate risk with a maximum drawdown of -18.16% and an average drawdown of -3.35%, with two drawdown events exceeding 10%. The maximum drawdown duration was 154 days, and recovery took 118 days, indicating a relatively quick recovery from peak losses. The 1-year Calmar ratio of 0.69 suggests that the fund's return per unit of drawdown risk is moderate, and its downside capture of 88.24% (1Y) indicates it loses less than the benchmark during market declines.

The fund is a multi-cap fund, which typically invests across large, mid, and small-cap stocks, providing broad diversification. While specific top holdings and sector weights are not provided, the multi-cap structure inherently reduces concentration risk compared to single-cap funds. The fund's expense ratio of 0.4% is low, which is favorable for long-term returns.

The fund's XIRR returns are below the category averages across all time periods, indicating underperformance relative to its multi-cap peers. However, the fund has consistently outperformed the NIFTY 50 benchmark over 1, 3, 5, 7, 10, 12, and 15-year horizons, with positive alpha and lower downside capture. The fund's calendar year returns show positive performance in each year from 2023 to 2026, with 2024 being the strongest at 18.37%.

This fund is suitable for investors seeking long-term wealth creation through a diversified multi-cap equity portfolio, with a time horizon of at least 5-7 years. It is appropriate for investors with a moderate to high risk tolerance, as the fund can experience drawdowns of over 18%. Investors who are willing to accept underperformance relative to category peers in exchange for consistent benchmark outperformance and lower downside risk may find this fund suitable.

• Consistent outperformance over the NIFTY 50 benchmark across all time periods, with positive alpha and lower downside capture.
• Low expense ratio of 0.4% (Direct plan) enhances net returns for investors.
• Diversified multi-cap structure reduces concentration risk and provides exposure to various market capitalizations.

• Underperformance relative to the category average SIP XIRR across 1, 3, 5, 7, 10, 12, and 15-year periods, indicating the fund lags its multi-cap peers.
• The fund has experienced two drawdown events exceeding 10%, with a maximum drawdown of -18.16%, which may be uncomfortable for risk-averse investors.