PGIM India Large and Mid Cap Fund

PGIM India Large and Mid Cap Fund delivered a 1Y SIP XIRR of 4.05%, well below the category average of 11.12%, indicating underperformance versus peers on the primary return metric. However, on a lump-sum basis the fund has consistently outperformed the NIFTY 50 across all periods, with a 3Y Fund CAGR of 7.28% versus the benchmark's 0.6% and positive alpha at every horizon from 1Y (7.02%) through 15Y. Calendar year returns show strong dispersion, ranging from 20.12% in 2024 to -3.01% in 2026.

The fund exhibits a beta of roughly 0.95 against the NIFTY 50, moving nearly in line with the market but with a notably lower downside capture of 88.96% versus an upside capture of 98.82%, which supports its positive alpha. It has experienced 2 drawdown events exceeding 10%, with the maximum drawdown lasting 158 days and taking 117 days to recover. The 1Y Calmar ratio of 0.43 suggests modest risk-adjusted returns relative to the depth and duration of its drawdowns.

Detailed holdings and sector allocation data were not provided for this fund, so specific concentration and diversification observations cannot be made. As a Large & Mid Cap category fund, it is mandated to hold a blend of large-cap and mid-cap equities, which inherently carries higher volatility than pure large-cap funds. Investors should review the latest factsheet or portfolio disclosure from PGIM India for current top holdings and sector weights.

The fund trails its category significantly on SIP XIRR, with a 1Y figure of 4.05% against the category average of 11.12%, placing it in the lower tier of Large & Mid Cap peers on recent SIP returns. Its long-term lump-sum outperformance versus the NIFTY 50 is a positive consistency signal, with positive alpha across every measured horizon. Investors should weigh the weak recent SIP performance against the fund's durable benchmark-beating record before drawing conclusions.

This fund suits investors with a high risk tolerance and a long time horizon of at least 5-7 years, given the mid-cap exposure and the multi-year drawdown and recovery periods observed. It may appeal to those seeking market-plus returns with somewhat cushioned downside, as reflected in its 88.96% downside capture. Investors prioritizing near-term SIP returns may prefer peers, given the current gap to the category average.

• Consistent outperformance versus the NIFTY 50, with positive alpha at every horizon (e.g., 7.02% at 1Y and 6.37% at 3Y)
• Lower downside capture of 88.96% versus upside capture of 98.82%, indicating better loss protection than the benchmark
• Low expense ratio of 0.65% for the Direct plan, keeping cost drag minimal

• 1Y SIP XIRR of 4.05% is well below the category average of 11.12%, signaling recent underperformance versus peers
• Two drawdown events exceeding 10%, with the worst lasting 158 days and requiring 117 days to recover, testing investor patience
• Calendar year returns are volatile, swinging from 20.12% in 2024 to -3.01% in 2026