NJ Flexi Cap Fund
Direct · GrowthAI Summary
The NJ Flexi Cap Fund has delivered a 1-year SIP XIRR of 3.12% and a 3-year SIP XIRR of 3.93%, significantly underperforming the category averages of 15.6% and 14.89% for the same periods. Over the long term, the fund's CAGR has been positive but modest, with a 3-year CAGR of 11.14% versus the benchmark's 6.98%, and a 5-year CAGR of 6.54% versus 4.13%, indicating some outperformance on a lump-sum basis. However, the fund's 1-year CAGR is -0.5%, which is better than the benchmark's -2.9%, but still negative in absolute terms.
The fund exhibits a maximum drawdown of -0.27%, which is relatively shallow, but the drawdown duration of 573 days and the fact that it has not yet recovered from this drawdown highlight prolonged periods of underperformance. The Calmar ratio for 1 year is 0.17, indicating low risk-adjusted returns relative to the drawdown. The fund's beta is below 1 (0.83 for 1Y and 0.91 for longer periods), suggesting lower volatility than the benchmark, but its downside capture is also lower, which may limit losses in downturns.
The fund's top 10 holdings account for about 42% of the portfolio, with a significant concentration in pharmaceuticals (22% of NAV) and healthcare services, which together represent a large sector bet. Other notable sectors include banks (8.4%), automobiles (8.0%), and food products (7.2%), providing some diversification across consumer and financial sectors. With 49 total holdings, the fund is reasonably diversified, but the heavy tilt towards pharma and healthcare could expose it to sector-specific risks.
The fund's SIP XIRR is far below the category average across all time periods, indicating that it has consistently underperformed its peers. For instance, the 3-year XIRR of 3.93% is nearly 11 percentage points lower than the category average of 14.89%. The fund's long-term CAGR has been positive and has beaten the benchmark, but the gap with the category suggests that other flexi cap funds have delivered superior returns. The fund's performance has been inconsistent, with a strong 2023 (21.09%) and 2024 (15.61%), but negative returns in 2025 and near-flat in 2026.
This fund may be suitable for investors with a low risk tolerance who prioritize capital preservation over high returns, given its lower beta and shallow drawdowns. However, the prolonged underperformance relative to the category and the lack of recovery from the maximum drawdown suggest that investors should have a long-term horizon (at least 5-7 years) and be prepared for extended periods of muted returns. It is not ideal for investors seeking aggressive growth or those who expect returns in line with the flexi cap category average.
- Lower volatility than the benchmark, with a beta of 0.83-0.91, which may appeal to risk-averse investors.
- Consistent positive alpha over the benchmark across 3 to 15-year periods, with the highest alpha of 4.20% over 3 years.
- Diversified portfolio across 49 holdings with a focus on defensive sectors like pharmaceuticals and healthcare, which can provide stability.
- Significant underperformance versus the category average SIP XIRR, with a 1-year XIRR of 3.12% versus 15.6% for the category.
- The fund has not recovered from its maximum drawdown, which has lasted over 573 days, indicating a prolonged period of negative or flat returns.
Generated on 30-08-2026, 2:58 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 | ₹12.02 L | 3.1% | -29.8% | 69.3% |
| 3 Years | ₹36.00 L | ₹38.18 L | 3.9% | 3.0% | 4.3% |
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 | 3.1% | 14.4% | 15.6% | -11.3% |
| 3 Years | 3.9% | 11.1% | 14.9% | -7.2% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 4.6% | -1.1% | -15.1% | 61.3% | -0.10 | -0.19 | 42% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +0.76 | 0.83 | 80.9% | 77.3% | -0.5% | -2.9% |
| 3 Years | +4.20 | 0.91 | 91.6% | 84.9% | 11.1% | 7.0% |
| 5 Years | +2.19 | 0.91 | 91.6% | 84.9% | 6.5% | 4.1% |
| 7 Years | +1.37 | 0.91 | 91.6% | 84.9% | 4.6% | 2.9% |
| 10 Years | +0.77 | 0.91 | 91.6% | 84.9% | 3.2% | 2.0% |
| 12 Years | +0.54 | 0.91 | 91.6% | 84.9% | 2.7% | 1.7% |
| 15 Years | +0.31 | 0.91 | 91.6% | 84.9% | 2.1% | 1.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Torrent Pharmaceuticals Limited | 5.64% |
| 2 | Dr. Lal Path Labs Limited | 4.47% |
| 3 | Marico Limited | 4.44% |
| 4 | Eicher Motors Limited | 4.38% |
| 5 | Bosch Limited | 4.31% |
| 6 | ICICI Bank Limited | 4.29% |
| 7 | Britannia Industries Limited | 4.05% |
| 8 | Cipla Limited | 3.78% |
| 9 | Sun Pharmaceutical Industries Limited | 3.61% |
| 10 | Alkem Laboratories Limited | 3.46% |