SBI Flexicap Fund
Direct · GrowthAI Summary
SBI Flexicap Fund has delivered consistent long-term SIP XIRR of 13.95-14.87% across 3Y to 12Y horizons, though it trails the category average SIP XIRR in the 5Y (14.87% vs 16.09%), 7Y (14.34% vs 15.47%), and 10Y (14.51% vs 15.97%) windows. Against the NIFTY 50, the fund has generated positive alpha across all periods, including 3.55% over 12Y and 3.69% over 15Y, with lump-sum CAGR beating the benchmark in every window. The 1Y SIP XIRR of 9.58% is broadly in line with the category average of 9.55%.
The fund exhibits a defensive risk profile with a beta of 0.86-0.93 versus NIFTY 50 and downside capture consistently below 86%, meaning it has historically fallen less than the benchmark in corrections. It has experienced 8 drawdown events exceeding 10%, with a maximum drawdown of -35.8% that took 239 days to recover after a 59-day decline. Calmar ratios of roughly 0.41-0.49 across horizons indicate moderate risk-adjusted returns, with the 1Y Calmar of 0.4899 being the strongest.
The portfolio is anchored in large-cap financials, with ICICI Bank (6.9%) and HDFC Bank (6.24%) as the top holdings, and Banks dominating sector allocation at 23.7%. With 60 total holdings and a well-spread top 10 (no stock above 6.9%), the fund offers reasonable diversification across Pharmaceuticals (9.1%), Automobiles (5.1%), Finance (4.8%), and Retailing (4.7%). The heavy banking tilt of nearly a quarter of the portfolio is the main concentration risk to monitor.
The fund underperforms the category average SIP XIRR over 5Y, 7Y, 10Y, and 12Y horizons, with gaps of 1.22% (5Y) and 1.46% (10Y), though it stays competitive at 1Y and 3Y. Its consistent positive alpha versus NIFTY 50 across all measured periods, including 1.04% in 1Y and 1.11% in 3Y, reflects steady benchmark outperformance even if peers have done slightly better. Long-term lump-sum CAGR of 12.59% versus the benchmark's 9.24% over 15Y underscores durable relative performance.
This fund suits investors seeking a core flexicap holding with below-market volatility and a long-term horizon of 5-7 years or more, ideally through SIP to smooth entry points. It is appropriate for moderate-risk investors who prioritize downside protection, given the consistently low downside capture versus NIFTY 50, but should tolerate interim drawdowns like the -35.8% maximum. Investors seeking top-quartile category returns may find peers with higher 5Y-10Y SIP XIRR more appealing.
- Consistent positive alpha versus NIFTY 50 across all periods, reaching 3.69% over 15Y
- Low downside capture (83.76-89.29%) and beta below 0.93, indicating strong downside protection
- Stable long-term SIP XIRR of roughly 14% across 3Y to 12Y horizons, demonstrating return consistency
- SIP XIRR trails the category average over 5Y, 7Y, 10Y, and 12Y horizons, with a 1.46% gap at 10Y
- Heavy sector concentration in Banks at 23.7% of the portfolio exposes investors to financial sector cyclicality
- Maximum drawdown of -35.8% with a 239-day recovery period, alongside 8 drawdown events exceeding 10%
Generated on 26-10-2026, 2:15 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 | ₹12.73 L | 18.2% | -55.3% | 94.9% |
| 3 Years | ₹36.00 L | ₹45.02 L | 15.0% | -19.4% | 34.0% |
| 5 Years | ₹60.00 L | ₹85.74 L | 14.4% | -6.1% | 25.0% |
| 7 Years | ₹84.00 L | ₹1.41 Cr | 14.3% | 2.2% | 19.8% |
| 10 Years | ₹1.20 Cr | ₹2.55 Cr | 14.5% | 10.2% | 17.6% |
| 12 Years | ₹1.44 Cr | ₹3.60 Cr | 14.0% | 10.8% | 17.0% |
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 | 18.2% | 14.3% | 9.5% | +4.0% |
| 3 Years | 15.0% | 11.0% | 14.8% | +4.0% |
| 5 Years | 14.4% | 10.4% | 16.1% | +4.0% |
| 7 Years | 14.3% | 10.6% | 15.5% | +3.8% |
| 10 Years | 14.5% | 11.4% | 16.0% | +3.1% |
| 12 Years | 14.0% | 11.3% | 15.2% | +2.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 17.5% | 13.2% | -28.6% | 88.4% | 0.55 | 1.98 | 83% | — | — |
| 3 Years | 15.7% | 15.2% | -4.3% | 33.5% | 1.43 | 6.62 | 98% | — | — |
| 5 Years | 15.2% | 15.4% | 2.2% | 26.5% | 1.91 | 27.96 | 100% | — | — |
| 10 Years | 15.3% | 15.0% | 11.0% | 19.2% | 4.29 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.29 | 0.93 | 91.6% | 87.7% | -8.8% | -12.5% |
| 3 Years | +1.77 | 0.88 | 87.7% | 84.3% | 7.7% | 5.8% |
| 5 Years | +1.48 | 0.86 | 86.4% | 83.5% | 6.6% | 4.9% |
| 7 Years | +2.25 | 0.86 | 87.0% | 83.9% | 11.6% | 9.8% |
| 10 Years | +1.63 | 0.87 | 88.3% | 85.6% | 11.3% | 10.1% |
| 12 Years | +3.71 | 0.87 | 89.5% | 84.5% | 12.4% | 9.1% |
| 15 Years | +3.84 | 0.87 | 90.0% | 84.7% | 12.8% | 9.3% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 6.90% |
| 2 | HDFC Bank Ltd. | 6.24% |
| 3 | Larsen & Toubro Ltd. | 3.32% |
| 4 | Aurobindo Pharma Ltd. | 3.03% |
| 5 | JSW Infrastructure Ltd. | 2.81% |
| 6 | Bajaj Auto Ltd. | 2.65% |
| 7 | Bajaj Finance Ltd. | 2.50% |
| 8 | Eicher Motors Ltd. | 2.46% |
| 9 | Titan Company Ltd. | 2.41% |
| 10 | Life Insurance Corporation of India | 2.20% |