SBI COMMA Fund
Direct · GrowthAI Summary
SBI COMMA Fund has delivered strong SIP XIRR across horizons, with 1Y at 17.95% versus a category average of 10.87%, and 3Y/5Y at 17.29%/17.97% versus category averages of 16.4%/17.53%. Against the NIFTY 50, the fund shows consistent positive alpha, including 14.56% in 1Y and 9.36% over 3Y, with the 3Y fund CAGR of 13.97% far exceeding the benchmark's 4.71%. Long-term lump-sum performance is also solid, with a 10Y fund CAGR of 14.6% versus the benchmark's 9.88%.
The fund demonstrates defensive characteristics, with downside capture below 100% across all periods (72.54% in 1Y, 88.53% in 10Y) and beta mostly under 1, meaning it falls less than the benchmark in weak markets. It has experienced 8 drawdown events greater than 10%, and the maximum drawdown duration of 801 days with a 239-day recovery indicates investors may need patience during prolonged weak phases. Calmar ratios of roughly 0.39-0.46 across horizons suggest moderate risk-adjusted efficiency.
The portfolio holds 42 stocks with the top 10 accounting for roughly 42% of NAV, led by Sudeep Pharma (6.73%), Tata Steel (6.38%), and JSW Steel (5.29%). Sector concentration is notable in Ferrous Metals (16.5%) and Chemicals & Petrochemicals (13.9%), with cyclical sectors like Power, Cement, and Textiles also prominent. This commodity- and cyclical-heavy tilt means performance is closely tied to economic and commodity cycles.
Within the Sectoral/Thematic category, the fund beats the category average SIP XIRR in 1Y (17.95% vs 10.87%), 3Y (17.29% vs 16.4%), 7Y (17.19% vs 16.65%), and 12Y (16.45% vs 15.83%), while trailing slightly at 5Y (17.97% vs 17.53%) and 10Y (16.94% vs 16.47% is actually ahead). Calendar year returns show high variability, ranging from 51.87% in 2021 to -17.8% in 2018, reflecting the thematic nature of the fund. Overall, it has been a consistent above-average performer over most long horizons.
This fund suits investors with high risk tolerance who understand sectoral/thematic funds and can accept sharp year-to-year swings, including negative years like 2018 (-17.8%) and 2022 (-7.47%). A horizon of at least 5-7 years is advisable given the 801-day maximum drawdown duration and cyclical portfolio exposure. It should be used as a satellite allocation within a diversified portfolio rather than a core holding.
- Consistent positive alpha versus NIFTY 50 across all measured periods, including 14.56% in 1Y and 5.05% over 10Y
- Superior SIP XIRR versus category averages in 1Y (17.95% vs 10.87%), 3Y, 7Y, and 12Y horizons
- Below-100% downside capture in every period (e.g., 72.54% in 1Y), indicating better downside protection than the benchmark
- Heavy concentration in cyclical sectors such as Ferrous Metals (16.5%) and Chemicals & Petrochemicals (13.9%), exposing investors to commodity cycle downturns
- High return volatility with calendar year returns swinging from 51.87% (2021) to -17.8% (2018), and a maximum drawdown duration of 801 days
Generated on 09-10-2026, 3:15 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 | ₹12.78 L | 20.3% | -51.1% | 114.9% |
| 3 Years | ₹36.00 L | ₹45.55 L | 17.1% | -21.2% | 50.5% |
| 5 Years | ₹60.00 L | ₹89.08 L | 16.6% | -6.8% | 29.8% |
| 7 Years | ₹84.00 L | ₹1.56 Cr | 17.1% | -0.5% | 25.0% |
| 10 Years | ₹1.20 Cr | ₹2.87 Cr | 16.9% | 13.5% | 20.7% |
| 12 Years | ₹1.44 Cr | ₹4.09 Cr | 16.5% | 14.9% | 18.2% |
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 | 20.3% | 14.3% | 10.7% | +6.0% |
| 3 Years | 17.1% | 11.0% | 16.3% | +6.1% |
| 5 Years | 16.6% | 10.4% | 17.5% | +6.2% |
| 7 Years | 17.1% | 10.6% | 16.6% | +6.6% |
| 10 Years | 16.9% | 11.4% | 16.4% | +5.5% |
| 12 Years | 16.5% | 11.3% | 15.8% | +5.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.9% | 13.1% | -26.8% | 115.7% | 0.47 | 1.44 | 73% | — | — |
| 3 Years | 16.6% | 17.4% | -8.1% | 35.5% | 1.31 | 5.37 | 98% | — | — |
| 5 Years | 16.3% | 16.4% | 2.0% | 30.8% | 1.82 | 27.58 | 100% | — | — |
| 10 Years | 16.4% | 16.2% | 12.7% | 19.8% | 6.72 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +11.18 | 0.79 | 87.0% | 70.5% | 5.0% | -9.5% |
| 3 Years | +8.19 | 1.04 | 105.5% | 94.6% | 13.6% | 5.5% |
| 5 Years | +3.48 | 0.98 | 97.5% | 92.1% | 8.1% | 4.6% |
| 7 Years | +7.92 | 0.88 | 93.7% | 84.8% | 18.0% | 10.6% |
| 10 Years | +4.24 | 0.90 | 94.1% | 88.7% | 14.3% | 10.5% |
| 12 Years | +5.17 | 0.91 | 94.8% | 88.3% | 14.4% | 9.6% |
| 15 Years | +3.01 | 0.91 | 94.5% | 90.1% | 12.2% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Sudeep Pharma Ltd. | 6.73% |
| 2 | Tata Steel Ltd. | 6.38% |
| 3 | JSW Steel Ltd. | 5.29% |
| 4 | Oil & Natural Gas Corporation Ltd. | 4.25% |
| 5 | CESC Ltd. | 3.75% |
| 6 | Gokaldas Exports Ltd. | 3.69% |
| 7 | Arvind Ltd. | 3.42% |
| 8 | Ultratech Cement Ltd. | 3.15% |
| 9 | Oil India Ltd. | 3.07% |
| 10 | NMDC Ltd. | 2.94% |