SBI MultiCap Fund
Direct · GrowthAI Summary
SBI MultiCap Fund has outperformed the NIFTY 50 across all long-term periods, with a 3Y fund CAGR of 11.94% versus the benchmark's 6.22% and positive alpha of 5.67%. However, its SIP XIRR of 13.57% (3Y) and 8.36% (1Y) trails the category averages of 14.82% and 11.34% respectively, indicating peers have delivered better SIP outcomes recently. The 1Y lump-sum CAGR of -6.68% still beat the benchmark's -11.96% in a weak market.
The fund exhibits a defensive risk profile with beta below 1 across all periods (0.76-0.89) and consistently lower downside capture (70-84%) than upside capture, cushioning losses in falling markets. Calmar ratios of 1.05 (1Y) and 1.13 (3Y) indicate reasonable risk-adjusted returns relative to drawdowns. Five drawdown events exceeding 10% with a maximum recovery period of 142 days suggest investors should expect meaningful but recoverable corrections.
The 68-stock portfolio is well diversified, with the top holding ICICI Bank at just 3.94% of NAV and the top 10 holdings totaling under 30%. Banks is the largest sector at 12.3%, followed by Consumer Durables (8.8%) and Retailing (7.7%), providing genuine multi-cap and multi-sector spread. Exposure to names like Adani Power, Adani Enterprises, and newer listings such as Lenskart adds both growth potential and some idiosyncratic risk.
Against category peers, the fund lags on SIP XIRR at both 1Y (8.36% vs 11.34%) and 3Y (13.57% vs 14.82%), placing it below the multi-cap average on the primary return metric. Its lump-sum record is stronger, with 5Y, 7Y, 10Y, 12Y, and 15Y CAGRs all exceeding the NIFTY 50, though alpha has narrowed over longer horizons (0.34% over 15Y). Calendar year returns show uneven consistency, ranging from -3.89% in 2026 to 26.62% in 2024.
This fund suits investors seeking diversified multi-cap exposure with a defensive tilt, given its below-market beta and strong downside capture characteristics. A horizon of at least 5-7 years is appropriate to ride out the five significant drawdowns observed and allow the long-term outperformance versus the benchmark to compound. Investors should have moderate risk tolerance and accept that recent SIP returns trail category peers.
- Consistent outperformance versus NIFTY 50 with positive alpha across 1Y (3.26%), 3Y (5.67%), and 5Y (4.42%) periods
- Defensive profile with downside capture of 70-84% versus upside capture of 78-89%, limiting losses in weak markets
- Well-diversified 68-stock portfolio with the largest holding at only 3.94% of NAV
- SIP XIRR trails the category average at both 1Y (8.36% vs 11.34%) and 3Y (13.57% vs 14.82%)
- Five drawdown events exceeding 10% with a maximum drawdown duration of 251 days, requiring patience during corrections
Generated on 31-10-2026, 2:14 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 | ₹12.60 L | 15.5% | -22.3% | 54.9% |
| 3 Years | ₹36.00 L | ₹44.35 L | 13.7% | 0.2% | 22.7% |
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 | 15.5% | 14.3% | 11.3% | +1.3% |
| 3 Years | 13.7% | 11.0% | 14.8% | +2.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.8% | 12.8% | -9.7% | 44.3% | 0.68 | 2.77 | 90% | — | — |
| 3 Years | 17.1% | 17.2% | 10.1% | 23.7% | 4.08 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +3.26 | 0.89 | 88.8% | 83.5% | -6.7% | -12.0% |
| 3 Years | +5.67 | 0.83 | 84.3% | 75.7% | 11.9% | 6.2% |
| 5 Years | +4.42 | 0.76 | 78.2% | 70.4% | 10.7% | 6.2% |
| 7 Years | +2.64 | 0.76 | 78.2% | 70.4% | 7.5% | 4.4% |
| 10 Years | +1.33 | 0.76 | 78.2% | 70.4% | 5.2% | 3.1% |
| 12 Years | +0.83 | 0.76 | 78.2% | 70.4% | 4.3% | 2.5% |
| 15 Years | +0.34 | 0.76 | 78.2% | 70.4% | 3.4% | 2.0% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 3.94% |
| 2 | Adani Power Ltd. | 3.48% |
| 3 | Adani Enterprises Ltd. | 3.47% |
| 4 | Divi's Laboratories Ltd. | 3.37% |
| 5 | K.P.R. Mill Ltd. | 3.06% |
| 6 | HDFC Bank Ltd. | 3.02% |
| 7 | Kotak Mahindra Bank Ltd. | 2.67% |
| 8 | Aether Industries Ltd. | 2.61% |
| 9 | Paradeep Phosphates Ltd. | 2.30% |
| 10 | Lenskart Solutions Ltd. | 2.19% |