SBI Infrastructure Fund
Direct · GrowthAI Summary
SBI Infrastructure Fund has delivered strong SIP XIRR across horizons, with 3Y at 20.82% and 5Y at 20.6%, comfortably ahead of category averages of 16.4% and 17.53% respectively. Against the NIFTY 50, the fund has generated consistent positive alpha, ranging from 3.82% over 15Y to 9.89% over 5Y, with 5Y Fund CAGR of 15.13% versus the benchmark's 5.04%. However, recent performance has softened, with calendar year returns of -0.38% in 2025 and -2.81% in 2026.
The fund exhibits defensive characteristics relative to the NIFTY 50, with beta between 0.86 and 0.93 and downside capture consistently below 86%, meaning it has historically lost less than the benchmark in down markets. Five drawdown events exceeding 10% reflect the inherent volatility of a sectoral/thematic portfolio, and the maximum drawdown duration of 808 days with a 287-day recovery indicates investors may face prolonged recovery periods. Calmar ratios of roughly 0.38 to 0.46 across horizons suggest moderate risk-adjusted returns.
The portfolio is anchored by Reliance Industries at 11.55% of NAV, followed by Bharti Airtel at 6.03% and Larsen & Toubro at 5.05%, with 38 total holdings providing reasonable breadth. Sector concentration is moderate, with the top five sectors — Petroleum Products (11.6%), Electrical Equipment (11.4%), Cement (9.9%), Construction (9.2%), and Telecom (8.1%) — spread across infrastructure-linked industries. Exposure to Adani group companies (Adani Ports at 3.97% and Adani Enterprises at 3.27%) adds concentrated single-group risk.
The fund has outperformed its category average SIP XIRR across every measured horizon, including 1Y (12.66% vs 10.87%), 7Y (17.89% vs 16.65%), and 12Y (17.84% vs 15.83%). This consistent outperformance over long periods suggests durable stock selection within the infrastructure theme. The recent two negative calendar years, however, indicate the fund is currently in a weaker phase of the sector cycle.
This fund suits investors with high risk tolerance who already hold diversified core equity funds and want a tactical allocation to India's infrastructure and capex theme. A horizon of at least 5-7 years is advisable, given the fund's long drawdown durations and the cyclical nature of sectoral funds. Investors should size the position modestly, as thematic funds can underperform for extended stretches.
- Consistent alpha over the NIFTY 50 across all horizons from 1Y to 15Y, ranging from 3.82% to 9.89%
- SIP XIRR beats category averages at every horizon, including 20.82% over 3Y versus the category's 16.4%
- Favorable downside capture (77.8% to 87.29%) with beta below 0.93, cushioning losses in weak markets
- Negative calendar year returns in 2025 (-0.38%) and 2026 (-2.81%) signal a current downturn in the infrastructure theme
- Five drawdown events exceeding 10% and a maximum drawdown duration of 808 days highlight prolonged recovery risk typical of sectoral funds
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 | ₹12.80 L | 20.8% | -59.6% | 114.5% |
| 3 Years | ₹36.00 L | ₹45.74 L | 17.6% | -23.9% | 45.7% |
| 5 Years | ₹60.00 L | ₹92.74 L | 17.5% | -10.6% | 38.8% |
| 7 Years | ₹84.00 L | ₹1.55 Cr | 17.8% | -2.8% | 30.3% |
| 10 Years | ₹1.20 Cr | ₹3.19 Cr | 19.0% | 14.7% | 23.9% |
| 12 Years | ₹1.44 Cr | ₹4.50 Cr | 17.9% | 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 | 20.8% | 14.3% | 10.7% | +6.5% |
| 3 Years | 17.6% | 11.0% | 16.3% | +6.6% |
| 5 Years | 17.5% | 10.4% | 17.5% | +7.2% |
| 7 Years | 17.8% | 10.6% | 16.6% | +7.3% |
| 10 Years | 19.0% | 11.4% | 16.4% | +7.6% |
| 12 Years | 17.9% | 11.3% | 15.8% | +6.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.3% | 13.2% | -31.8% | 92.6% | 0.52 | 1.64 | 80% | — | — |
| 3 Years | 17.9% | 18.6% | -8.2% | 40.4% | 1.13 | 4.96 | 95% | — | — |
| 5 Years | 16.9% | 15.6% | -2.1% | 36.2% | 1.37 | 10.95 | 99% | — | — |
| 10 Years | 17.1% | 16.9% | 12.9% | 21.6% | 5.70 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +7.04 | 0.90 | 92.1% | 82.2% | -0.9% | -9.5% |
| 3 Years | +5.66 | 0.92 | 93.8% | 85.6% | 11.2% | 5.5% |
| 5 Years | +9.19 | 0.86 | 89.7% | 77.8% | 14.1% | 4.6% |
| 7 Years | +8.68 | 0.86 | 87.8% | 77.8% | 18.7% | 10.6% |
| 10 Years | +4.81 | 0.87 | 87.7% | 81.3% | 14.8% | 10.5% |
| 12 Years | +5.74 | 0.87 | 89.2% | 82.0% | 14.9% | 9.6% |
| 15 Years | +3.65 | 0.91 | 92.3% | 87.2% | 12.8% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Reliance Industries Ltd. | 11.55% |
| 2 | Bharti Airtel Ltd. | 6.03% |
| 3 | Larsen & Toubro Ltd. | 5.05% |
| 4 | Shree Cement Ltd. | 4.82% |
| 5 | Siemens Ltd. | 4.19% |
| 6 | Adani Ports and Special Economic Zone Ltd. | 3.97% |
| 7 | Bharat Heavy Electricals Ltd. | 3.68% |
| 8 | Adani Enterprises Ltd. | 3.27% |
| 9 | Torrent Power Ltd. | 3.03% |
| 10 | Grindwell Norton Ltd. | 2.94% |