Shriram Flexi Cap Fund
Direct · GrowthAI Summary
Shriram Flexi Cap Fund has delivered SIP XIRR of 13.71% over 3Y and 14.51% over 5Y, though these trail the category averages of 14.73% and 16.08% respectively, and the 7Y XIRR of 11.04% lags the category's 15.47%. Against the NIFTY 50, the fund shows modest alpha of 2.07% over 1Y and 0.78% over 5Y, while 15Y alpha is slightly negative at -0.30%. Recent calendar year returns have weakened, with 2025 at -5.19% and 2026 at -8.46%.
The fund exhibits strong downside management, with downside capture below 100% across all periods (89.83% over 7Y, 87.37% over 15Y), meaning it has historically lost less than the NIFTY 50 in falling markets. Risk-adjusted returns are respectable, with Calmar ratios ranging from 0.37 to 0.47 across the 1Y to 7Y horizons. However, the fund has experienced 4 drawdown events greater than 10%, and the 231-day recovery from maximum drawdown indicates patience is required after sharp corrections.
The portfolio is well diversified across 67 holdings, with the top 10 positions comprising roughly 37% of NAV. Banks dominate heavily at 22.3% of the portfolio, led by HDFC Bank (7.45%), ICICI Bank (5.52%), SBI (4.10%), and Axis Bank (3.96%), creating meaningful concentration in the financial sector. Other sectors like IT-Software (6.7%) and Automobiles (5.7%) play supporting roles, so performance will be strongly influenced by banking sector trends.
The fund trails category average SIP XIRR across every visible horizon, with the widest gaps over 5Y (14.51% vs 16.08%) and 7Y (11.04% vs 15.47%), placing it in the below-average tier of the Flexi Cap category. On consistency, the fund has shown uneven calendar year results, ranging from 28.15% in 2023 to losses in 2019-2020's neighbors like 2025 and 2026. Its defensive capture ratios are a differentiator versus peers, but this has come at the cost of long-term return leadership.
This fund suits conservative-to-moderate investors who prioritize lower downside capture and smoother ride quality over maximizing returns, and who can commit for at least 5-7 years given the multi-year recovery from drawdowns. It can work as a core flexi cap holding for SIP investors comfortable with banking-sector-driven volatility. Investors seeking category-beating performance or aggressive growth may find better alternatives within the Flexi Cap category.
- Consistently low downside capture (87-98% across all periods), cushioning losses relative to the NIFTY 50 in weak markets
- Low expense ratio of 0.46% for a flexi cap fund, keeping costs from eroding returns
- Diversified 67-stock portfolio with positive alpha of 2.07% over 1Y and 0.78% over 5Y versus the NIFTY 50
- SIP XIRR underperforms category averages at all horizons, notably 11.04% vs 15.47% over 7Y
- Heavy banking concentration of 22.3% creates sector-specific risk, with the top four holdings all being banks
- Negative calendar year returns in 2025 (-5.19%) and 2026 (-8.46%) signal recent performance weakness
Generated on 01-11-2026, 3:04 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 | ₹12.56 L | 13.7% | -50.1% | 68.2% |
| 3 Years | ₹36.00 L | ₹43.46 L | 14.4% | -4.8% | 31.5% |
| 5 Years | ₹60.00 L | ₹82.65 L | 14.5% | 3.5% | 26.0% |
| 7 Years | ₹84.00 L | ₹1.22 Cr | 11.1% | 7.4% | 13.7% |
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 | 13.7% | 14.3% | 9.5% | -0.6% |
| 3 Years | 14.4% | 11.0% | 14.7% | +3.4% |
| 5 Years | 14.5% | 10.4% | 16.1% | +4.1% |
| 7 Years | 11.1% | 10.6% | 15.5% | +0.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 13.1% | 8.6% | -27.0% | 70.7% | 0.35 | 0.87 | 74% | — | — |
| 3 Years | 15.0% | 14.8% | 5.5% | 25.9% | 2.17 | 122.49 | 100% | — | — |
| 5 Years | 14.9% | 15.8% | 5.5% | 22.5% | 2.25 | 87.46 | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.07 | 0.95 | 95.5% | 92.1% | -8.0% | -10.9% |
| 3 Years | +0.21 | 1.02 | 97.6% | 97.5% | 6.6% | 6.4% |
| 5 Years | +0.78 | 0.98 | 94.8% | 93.4% | 6.0% | 5.2% |
| 7 Years | +0.35 | 0.88 | 90.6% | 89.8% | 9.9% | 10.0% |
| 10 Years | -0.01 | 0.87 | 88.3% | 87.4% | 8.1% | 8.4% |
| 12 Years | -0.15 | 0.87 | 88.3% | 87.4% | 6.7% | 6.9% |
| 15 Years | -0.30 | 0.87 | 88.3% | 87.4% | 5.3% | 5.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Ltd. | 7.45% |
| 2 | ICICI Bank Ltd. | 5.52% |
| 3 | State Bank of India | 4.10% |
| 4 | Axis Bank Ltd. | 3.96% |
| 5 | Bharti Airtel Ltd. | 3.87% |
| 6 | Reliance Industries Ltd. | 3.81% |
| 7 | ITC Ltd. | 2.31% |
| 8 | Bharat Electronics Ltd. | 2.08% |
| 9 | Mahindra & Mahindra Ltd. | 2.07% |
| 10 | KFIN Technologies Ltd. | 2.04% |