Nippon India Active Momentum Fund
Direct · GrowthAI Summary
Nippon India Active Momentum Fund delivered a 1Y SIP XIRR of 9.48%, trailing the thematic category average of 11.61% by about 2.1 percentage points. Calendar year returns show volatility in outcomes, with a strong 22.03% in 2025 followed by -1.47% in 2026. The 1Y rolling return mean of 10.1% (lump-sum) suggests moderate returns across holding periods.
Risk metrics are currently favorable, with a maximum drawdown of just -0.13% lasting 25 days and recovery within 45 days, indicating a calm recent period. However, the fund has experienced 2 drawdown events exceeding 10%, a reminder of the volatility inherent in momentum strategies. The 1Y Calmar ratio of 0.80 reflects a reasonable return relative to the maximum drawdown.
The portfolio is diversified across 39 holdings, with the top 10 positions totaling roughly 39% of NAV. Banks dominate at 16.6% of the portfolio, led by HDFC Bank (6.3%) and ICICI Bank (6.1%), followed by Pharmaceuticals at 8.4% and Automobiles at 7.1%. Holdings span growth-oriented names like Dixon Technologies and Affle 3i alongside defensive pharma exposure, consistent with a momentum-driven approach.
The fund's 1Y SIP XIRR of 9.48% sits below the category averages across all listed horizons, which range from 11.61% (1Y) to 17.5% (10Y). This underperformance versus category peers suggests the momentum strategy has not yet differentiated itself positively. Investors should monitor whether the fund can close the gap over longer holding periods.
This fund suits investors with a high risk tolerance seeking thematic, momentum-based exposure as a satellite holding rather than a core portfolio fund. A horizon of at least 5 years is advisable given the strategy's cyclicality and the 2 drawdown events exceeding 10%. It should be limited to a modest allocation within a well-diversified portfolio.
- Well-diversified portfolio of 39 holdings with no single stock exceeding 6.3% of NAV
- Low current drawdown profile, with max drawdown of -0.13% and quick 45-day recovery
- Reasonable expense ratio of 0.69% for a direct plan actively managed momentum fund
- 1Y SIP XIRR of 9.48% underperforms the category average of 11.61% by over 2 percentage points
- Momentum strategies are inherently cyclical, as shown by the swing from 22.03% in 2025 to -1.47% in 2026, with 2 historical drawdown events exceeding 10%
Generated on 29-10-2026, 2:12 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 | ₹12.53 L | 9.6% | -15.0% | 25.1% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | Category avg |
|---|---|---|
| 1 Year | 9.6% | 11.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 9.9% | 9.9% | -0.8% | 19.1% | 0.75 | 2.10 | 99% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Limited | 6.30% |
| 2 | ICICI Bank Limited | 6.10% |
| 3 | Kotak Mahindra Bank Limited | 4.25% |
| 4 | Dixon Technologies (India) Limited | 3.78% |
| 5 | Sun Pharmaceutical Industries Limited | 3.44% |
| 6 | Bajaj Finance Limited | 3.23% |
| 7 | TVS Motor Company Limited | 3.20% |
| 8 | Affle 3i Limited | 3.12% |
| 9 | Torrent Pharmaceuticals Limited | 2.93% |
| 10 | Eternal Limited | 2.92% |