SBI Dividend Yield Fund
Direct · GrowthAI Summary
SBI Dividend Yield Fund has consistently outperformed the NIFTY 50 across all measured periods, with positive alpha ranging from 4.03% over 1Y to 0.18% over 15Y. Over 3Y, the fund delivered a lump-sum CAGR of 10.13% versus the benchmark's 6.46%. However, its SIP XIRR of 6.19% over 3Y and 8.85% over 1Y trails the category average SIP XIRR of 16.19% and 9.93% respectively, indicating weaker SIP-based returns relative to peers.
The fund exhibits strong downside protection with a downside capture of 78-82% versus an upside capture of 84-88%, and a beta of roughly 0.83-0.87, making it less volatile than the NIFTY 50. Only one drawdown event exceeding 10% occurred, though the maximum drawdown recovery took 485 days. Calmar ratios of 0.753 (1Y) and 0.7082 (3Y) reflect reasonable risk-adjusted returns given the shallow drawdown profile.
The portfolio is well diversified across 53 holdings, with the top position ICICI Bank at just 4.76% of NAV and the top ten holdings totaling under 30%. Sector allocation is spread across Pharmaceuticals (12.8%), Banks (8.2%), Automobiles (6.9%), Power (6.4%), and Transport Services (5.5%), avoiding heavy concentration in any single sector. The mix of financials, industrials like L&T, and defensive pharma aligns with a dividend yield strategy.
Against the Dividend Yield category, this fund underperforms on SIP XIRR at every horizon, with a 3Y gap of nearly 10 percentage points versus the category average of 16.19%. Its lump-sum performance versus the NIFTY 50 is nonetheless consistently positive, with alpha at all seven measured windows. The combination of benchmark outperformance but category underperformance suggests a conservative posture that lags more aggressive peers during strong markets.
This fund suits conservative equity investors seeking lower volatility and dividend-focused exposure, with a recommended horizon of at least 5-7 years to allow the drawdown recovery profile to play out. Its low beta and strong downside capture make it appropriate for investors with moderate risk tolerance who prioritize capital protection during market declines. Investors seeking maximum SIP returns versus category peers may find better alternatives, but the fund works well as a stabilizing core holding.
- Consistent positive alpha versus NIFTY 50 across all periods from 1Y to 15Y, including 4.03% over 1Y and 3.66% over 3Y
- Superior downside protection with downside capture of 78.08% (1Y) and 82.12% (3Y) against upside capture in the mid-to-high 80s
- Well-diversified 53-stock portfolio with no single holding above 4.76% of NAV and a balanced five-sector spread
- SIP XIRR significantly trails the category average at every horizon, with 3Y XIRR of 6.19% versus the category's 16.19%
- Long recovery from maximum drawdown of 485 days over a 193-day drawdown period may test investor patience during prolonged weak phases
Generated on 30-10-2026, 2:18 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 | ₹12.45 L | 13.0% | -20.2% | 54.3% |
| 3 Years | ₹36.00 L | ₹39.48 L | 6.4% | -0.2% | 12.7% |
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 | 13.0% | 14.3% | 9.9% | -1.3% |
| 3 Years | 6.4% | 11.0% | 16.2% | -4.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 13.4% | 6.5% | -7.5% | 43.3% | 0.44 | 1.51 | 83% | — | — |
| 3 Years | 12.6% | 12.9% | 9.0% | 15.8% | 3.90 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +5.95 | 0.83 | 85.4% | 76.0% | -2.9% | -12.0% |
| 3 Years | +4.51 | 0.87 | 87.6% | 81.2% | 10.8% | 6.2% |
| 5 Years | +2.83 | 0.87 | 87.5% | 80.4% | 9.1% | 6.2% |
| 7 Years | +1.72 | 0.87 | 87.5% | 80.4% | 6.4% | 4.4% |
| 10 Years | +0.92 | 0.87 | 87.5% | 80.4% | 4.4% | 3.0% |
| 12 Years | +0.62 | 0.87 | 87.5% | 80.4% | 3.7% | 2.5% |
| 15 Years | +0.31 | 0.87 | 87.5% | 80.4% | 2.9% | 2.0% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 4.76% |
| 2 | Acme Solar Holdings Ltd. | 4.07% |
| 3 | Larsen & Toubro Ltd. | 3.88% |
| 4 | Life Insurance Corporation of India | 3.85% |
| 5 | Kotak Mahindra Bank Ltd. | 3.42% |
| 6 | Interglobe Aviation Ltd. | 2.60% |
| 7 | Aurobindo Pharma Ltd. | 2.49% |
| 8 | Vedanta Aluminium Metal Ltd. | 2.46% |
| 9 | Adani Enterprises Ltd. | 2.44% |
| 10 | Cholamandalam Investment & Finance Co. Ltd. | 2.29% |