SBI Infrastructure Fund
Direct · GrowthAI Summary
SBI Infrastructure Fund has delivered strong SIP XIRR across horizons, with 17.82% over 3Y and 19.12% over 10Y, consistently beating category averages of 16.82% and 16.71% respectively. Against the NIFTY 50, the fund has generated positive alpha at every horizon, including 10.54% over 5Y and 8.58% over 3Y, while its lump-sum CAGR of 16.23% (3Y) far exceeds the benchmark's 7.75%. Recent 1Y SIP XIRR of 21.04% also outpaces the category average of 14.1%.
The fund shows a defensive risk profile relative to the benchmark, with beta below 1 at all horizons (0.86-0.92) and downside capture between 77.59% and 87.25%, meaning it falls less than the NIFTY 50 in weak markets. However, it has experienced 5 drawdown events exceeding 10%, and the maximum drawdown recovery took 287 days within a prolonged 808-day drawdown duration, highlighting the cyclicality of infrastructure investing. Calmar ratios of roughly 0.38-0.46 across horizons indicate moderate risk-adjusted efficiency.
The portfolio is concentrated with 35 holdings, led by Reliance Industries (9.55%), Bharti Airtel (6.40%), and Shree Cement (5.28%), with notable Adani group exposure across three stocks totaling about 12.4% of NAV. Sector allocation is well spread within the infrastructure theme, with the top five sectors — Cement (10.5%), Electrical Equipment (9.8%), Power (9.6%), Petroleum Products (9.6%), and Construction (8.7%) — each under 11%. This provides thematic breadth but limited diversification outside the infrastructure universe.
The fund outperforms its sectoral/thematic category on SIP XIRR at every measured horizon, from 21.04% vs 14.1% over 1Y to 18.02% vs 16.25% over 12Y. Calendar year returns show strong consistency in upcycles — 47.66% in 2021, 48.78% in 2023, and 21.15% in 2024 — though losses in 2013, 2018, and 2025 reflect the theme's volatility. Its persistent alpha versus NIFTY 50 across 1Y to 15Y windows suggests durable stock selection within the theme.
This fund suits investors with high risk tolerance seeking tactical or satellite exposure to India's infrastructure and capex cycle, not as a core portfolio holding. A horizon of at least 5-7 years is advisable, given the 808-day maximum drawdown duration and the theme's multi-year cycles of sharp gains and losses. Investors should be comfortable with calendar-year swings ranging from -17.4% to +48.78%.
- Consistent outperformance versus both the NIFTY 50 (positive alpha at all horizons up to 10.54% over 5Y) and the category average SIP XIRR at every horizon
- Defensive downside behavior with downside capture of 77.59-87.25% and beta below 0.93 across all periods
- Diversified exposure across infrastructure sub-sectors with no single sector exceeding 11% of NAV
- Concentrated Adani group exposure of roughly 12.4% across three holdings adds single-group risk
- Inherent sectoral cyclicality evidenced by 5 drawdowns over 10% and a maximum drawdown lasting 808 days with 287 days to recovery
Generated on 03-09-2026, 3:02 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 | ₹12.81 L | 21.0% | -59.6% | 114.5% |
| 3 Years | ₹36.00 L | ₹45.87 L | 17.8% | -23.9% | 45.7% |
| 5 Years | ₹60.00 L | ₹93.09 L | 17.6% | -10.6% | 38.8% |
| 7 Years | ₹84.00 L | ₹1.55 Cr | 17.8% | -2.8% | 30.3% |
| 10 Years | ₹1.20 Cr | ₹3.20 Cr | 19.1% | 14.7% | 23.9% |
| 12 Years | ₹1.44 Cr | ₹4.52 Cr | 18.0% | 15.1% | 20.9% |
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 | 21.0% | 14.4% | 14.1% | +6.6% |
| 3 Years | 17.8% | 11.1% | 16.8% | +6.7% |
| 5 Years | 17.6% | 10.4% | 16.9% | +7.2% |
| 7 Years | 17.8% | 10.6% | 16.5% | +7.3% |
| 10 Years | 19.1% | 11.5% | 16.7% | +7.7% |
| 12 Years | 18.0% | 11.4% | 16.3% | +6.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.6% | 13.4% | -31.8% | 92.6% | 0.53 | 1.66 | 80% | — | — |
| 3 Years | 17.9% | 18.9% | -8.2% | 40.4% | 1.13 | 4.95 | 95% | — | — |
| 5 Years | 16.9% | 15.5% | -2.1% | 36.2% | 1.36 | 10.86 | 99% | — | — |
| 10 Years | 17.2% | 16.9% | 12.9% | 21.6% | 5.79 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.85 | 0.91 | 93.2% | 81.2% | 6.8% | -2.9% |
| 3 Years | +8.58 | 0.92 | 96.8% | 85.3% | 16.2% | 7.8% |
| 5 Years | +10.54 | 0.86 | 90.9% | 77.6% | 18.2% | 7.8% |
| 7 Years | +9.15 | 0.86 | 88.1% | 77.9% | 20.2% | 11.8% |
| 10 Years | +5.22 | 0.87 | 88.3% | 81.3% | 15.4% | 10.8% |
| 12 Years | +5.83 | 0.88 | 89.7% | 82.1% | 15.2% | 9.8% |
| 15 Years | +3.79 | 0.91 | 92.6% | 87.3% | 13.2% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Reliance Industries Ltd. | 9.55% |
| 2 | Bharti Airtel Ltd. | 6.40% |
| 3 | Shree Cement Ltd. | 5.28% |
| 4 | Larsen & Toubro Ltd. | 4.79% |
| 5 | Adani Enterprises Ltd. | 4.30% |
| 6 | Adani Ports and Special Economic Zone Ltd. | 4.13% |
| 7 | Adani Energy Solutions Ltd. | 4.00% |
| 8 | Siemens Ltd. | 3.81% |
| 9 | Torrent Power Ltd. | 3.44% |
| 10 | Bharat Heavy Electricals Ltd. | 3.30% |