Motilal Oswal Large Cap Fund
Direct · GrowthAI Summary
Motilal Oswal Large Cap Fund has consistently outperformed the NIFTY 50 across all long-term windows, with a 3Y fund CAGR of 12.26% versus 3.29% for the benchmark and alpha ranging from 8.87% over 3Y to 1.51% over 15Y. However, its 12M XIRR of 3.77% trails the category average SIP XIRR of 7.69%, indicating underwhelming recent SIP performance despite a 1Y alpha of 3.13% on a lump-sum basis. The fund's -3.07% lump-sum CAGR over 1Y also beat the benchmark's -6.4%, showing resilience in a weak market.
The fund exhibits near-market volatility with a Beta of roughly 0.97 and a downside capture of 89.67%, meaning it falls less than the benchmark in declining markets. It has experienced 2 drawdown events greater than 10% historically, and a Calmar Ratio of 0.617 over 1Y points to moderate risk-adjusted returns currently. Combined upside capture above 100% and subdued downside capture makes its long-term risk-return profile attractive.
The portfolio is well diversified across 51 holdings, but banks dominate with 25.5% in sector allocation and five of the top ten holdings, led by HDFC Bank (9.45%) and ICICI Bank (7.59%). Reliance Industries (6.49%), Bharti Airtel (4.46%), and L&T (3.6%) round out a portfolio anchored in blue-chip large caps. IT - Software (7.3%) and Petroleum Products (6.5%) provide secondary exposure, though financial-sector concentration remains the largest positioning risk.
The fund's long-term benchmark outperformance is notable, but its 1Y XIRR of 3.77% sits well below the category average SIP XIRR of 7.69%, suggesting recent SIP flows have underperformed peers. Calendar-year returns show a strong 2024 at 34.2% followed by deceleration to 9.34% in 2025 and -3.85% in 2026, indicating its edge has narrowed in recent years. Its persistent positive alpha over 7Y, 10Y, 12Y, and 15Y points to genuine long-run stock-selection skill.
This fund suits investors seeking large-cap core exposure with a long-term horizon of at least 7-10 years, given its alpha has been most reliable over multi-year periods. Moderate risk tolerance is appropriate, as the fund moves nearly in line with the NIFTY 50 and has seen multiple double-digit drawdowns. It is a strong candidate for SIP investors comfortable with short-term underperformance versus category peers in exchange for sustained long-term benchmark-beating potential.
- Consistent positive alpha across all measured windows, including 8.87% over 3Y and positive alpha even over 15Y
- Superior downside protection with downside capture of 89.67% versus the NIFTY 50, cushioning losses in weak markets
- Diversified 51-stock portfolio of quality large caps with top holdings in established leaders like HDFC Bank and Reliance
- Recent SIP performance lags the category significantly, with a 1Y XIRR of 3.77% versus the category average of 7.69%
- Heavy concentration in the banking sector at 25.5% of NAV creates sector-specific downside risk
Generated on 07-11-2026, 3:11 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 | ₹12.52 L | 7.2% | -22.6% | 37.1% |
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 | 7.2% | 14.3% | 7.7% | -7.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 9.7% | 9.3% | -8.6% | 31.1% | 0.31 | 0.64 | 76% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.87 | 0.98 | 98.4% | 94.6% | 1.0% | -2.1% |
| 3 Years | +8.81 | 0.97 | 101.7% | 89.7% | 13.7% | 4.8% |
| 5 Years | +5.01 | 0.97 | 101.7% | 89.7% | 8.0% | 2.9% |
| 7 Years | +3.46 | 0.97 | 101.7% | 89.7% | 5.7% | 2.0% |
| 10 Years | +2.33 | 0.97 | 101.7% | 89.7% | 3.9% | 1.4% |
| 12 Years | +1.90 | 0.97 | 101.7% | 89.7% | 3.3% | 1.2% |
| 15 Years | +1.46 | 0.97 | 101.7% | 89.7% | 2.6% | 0.9% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Limited | 9.45% |
| 2 | ICICI Bank Limited | 7.59% |
| 3 | Reliance Industries Limited | 6.49% |
| 4 | Bharti Airtel Limited | 4.46% |
| 5 | Larsen & Toubro Limited | 3.60% |
| 6 | State Bank of India | 3.28% |
| 7 | Infosys Limited | 3.06% |
| 8 | Axis Bank Limited | 2.72% |
| 9 | Kotak Mahindra Bank Ltd | 2.49% |
| 10 | Tata Consultancy Services Limited | 2.17% |