Nippon India Large Cap Fund
Direct · GrowthAI Summary
Nippon India Large Cap Fund has delivered strong and consistent outperformance versus the NIFTY 50, with positive alpha across all periods from 1Y (1.88%) to 15Y (3.99%). Its SIP XIRR beats the category average across every horizon, including 17.52% over 3Y versus the category's 13.97% and 16.9% over 10Y versus 14.23%. Recent 1Y SIP XIRR of 9.96% also tops the category's 7.72% despite a negative lump-sum CAGR of -8.74% in 2026.
With beta near 0.98 and downside capture consistently below 97% (as low as 92.06% over 5Y), the fund cushions losses better than the benchmark while capturing full upside. The Calmar Ratio remains healthy across windows (0.37-0.46), reflecting decent risk-adjusted returns. Nine drawdown events exceeding 10% over the history indicate that meaningful interim declines are normal, though the maximum drawdown was modest at -0.40% with a 301-day recovery period.
The portfolio is concentrated in financials, with Banks alone at 26.1% and the top three holdings (HDFC Bank, ICICI Bank, Axis Bank) all bank stocks. IT - Software (8.3%), Pharma (7.5%), Retailing (7.2%), and FMCG (5.3%) provide balance across defensive and cyclical sectors. With 68 holdings and top-10 exposure of roughly 43.6%, diversification is reasonable while maintaining conviction in blue-chip names.
The fund beats the category average SIP XIRR at every time horizon measured, by roughly 2.6-3.7 percentage points across 3Y to 12Y windows. Calendar year returns show strong consistency, with double-digit gains in six of the last seven years including 32.51% in 2023 and 19.04% in 2024. Only 2026 (-8.88%) breaks the streak, which is in line with broader market weakness given alpha remained positive.
This fund suits investors seeking core large-cap exposure with a track record of benchmark and category outperformance. A minimum horizon of 5-7 years is appropriate given the drawdown history and 2026's negative lump-sum return. Moderate risk tolerance is sufficient, as the fund's below-average downside capture makes it relatively defensive for its category.
- Positive alpha versus NIFTY 50 across all periods from 1Y to 15Y, peaking at 6.35% over 5Y
- SIP XIRR consistently exceeds category averages at every horizon, with a 3.55-point gap over 3Y (17.52% vs 13.97%)
- Downside capture below 100% in every period (as low as 92.06% over 5Y) while maintaining near-full upside capture
- Heavy sector concentration in Banks at 26.1% of NAV, with the top three holdings all bank stocks
- Current 1Y lump-sum CAGR is negative at -8.74%, and nine drawdown events exceeding 10% show interim losses are routine
Generated on 04-11-2026, 3:03 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 | ₹12.84 L | 19.4% | -61.6% | 98.9% |
| 3 Years | ₹36.00 L | ₹45.70 L | 16.0% | -23.4% | 33.8% |
| 5 Years | ₹60.00 L | ₹89.85 L | 16.1% | -8.9% | 30.3% |
| 7 Years | ₹84.00 L | ₹1.48 Cr | 15.8% | -0.9% | 24.1% |
| 10 Years | ₹1.20 Cr | ₹2.91 Cr | 16.9% | 13.4% | 20.1% |
| 12 Years | ₹1.44 Cr | ₹4.17 Cr | 16.2% | 13.3% | 18.7% |
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 | 19.4% | 14.3% | 7.7% | +5.1% |
| 3 Years | 16.0% | 11.0% | 14.0% | +5.0% |
| 5 Years | 16.1% | 10.4% | 14.3% | +5.7% |
| 7 Years | 15.8% | 10.6% | 14.0% | +5.3% |
| 10 Years | 16.9% | 11.4% | 14.2% | +5.4% |
| 12 Years | 16.2% | 11.3% | 13.8% | +4.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.5% | 13.2% | -36.0% | 87.3% | 0.56 | 1.69 | 85% | — | — |
| 3 Years | 16.5% | 16.6% | -5.9% | 35.4% | 1.36 | 5.39 | 96% | — | — |
| 5 Years | 15.9% | 15.9% | -0.9% | 31.5% | 1.66 | 11.71 | 100% | — | — |
| 10 Years | 16.2% | 15.9% | 12.9% | 19.1% | 6.58 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.08 | 0.98 | 97.2% | 95.4% | -6.2% | -7.6% |
| 3 Years | +4.12 | 0.98 | 99.7% | 94.3% | 11.5% | 7.4% |
| 5 Years | +6.13 | 0.98 | 99.7% | 92.2% | 12.1% | 6.0% |
| 7 Years | +4.58 | 0.96 | 99.3% | 94.6% | 14.8% | 10.4% |
| 10 Years | +3.53 | 0.98 | 100.7% | 97.0% | 14.3% | 10.9% |
| 12 Years | +3.89 | 0.99 | 100.7% | 96.3% | 13.0% | 9.2% |
| 15 Years | +3.96 | 0.98 | 100.4% | 95.7% | 13.5% | 9.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Limited | 9.61% |
| 2 | ICICI Bank Limited | 6.09% |
| 3 | Axis Bank Limited | 5.26% |
| 4 | Reliance Industries Limited | 3.92% |
| 5 | Larsen & Toubro Limited | 3.63% |
| 6 | Infosys Limited | 3.36% |
| 7 | Tata Consultancy Services Limited | 3.12% |
| 8 | Bajaj Finance Limited | 3.09% |
| 9 | State Bank of India | 2.82% |
| 10 | Hindustan Unilever Limited | 2.74% |