Shriram Flexi Cap Fund
Direct · GrowthAI Summary
Shriram Flexi Cap Fund has delivered SIP XIRR of 15.03% over 3 years and 15.12% over 5 years, modestly ahead of the NIFTY 50's lump-sum CAGR of 9.69% and 9.45% over the same periods. However, it trails the category average SIP XIRR in most windows, including 15.6% vs its 14.23% over 1 year and 15.57% vs its 11.54% over 7 years. Alpha versus the NIFTY 50 is positive across 1Y to 7Y horizons, peaking at 3.81% over 1 year, though it fades to near zero beyond 10 years.
The fund shows a defensive risk profile, with a maximum drawdown of just -0.32% over 40 days and only 4 drawdown events exceeding 10%. Beta has stayed below 1 across most periods (0.87-1.03), with downside capture consistently below upside capture — for example, 91.19% downside vs 88.47% upside over 7 years — indicating better-than-benchmark protection in falling markets. Calmar ratios of 0.42-0.48 over 1Y to 5Y reflect reasonable risk-adjusted returns, though the 7Y Calmar of 0.37 is weaker.
The portfolio holds 68 stocks with a diversified top-10 allocation, led by HDFC Bank (7.14%) and ICICI Bank (5.44%), with banks dominating at 21.8% of NAV. Other significant sectors include IT-Software (7.1%), Healthcare Services (5.9%), Automobiles (5.8%), and Petroleum Products (5.5%). The heavy banking tilt means performance is sensitive to financial sector cycles, though the 68-stock universe limits single-stock concentration.
The fund underperforms category average SIP XIRR in most windows — 14.23% vs 15.6% over 1 year, 15.12% vs 15.64% over 5 years, and 11.54% vs 15.57% over 7 years — with only the 3-year XIRR of 15.03% beating the category's 14.89%. Calendar year returns show mixed consistency, with strong gains in 2023 (28.15%) and 2021 (22.24%) but losses in 2025 (-5.19%) and 2026 (-2.28%). Its low-beta, downside-protective style suggests it may lag in strong bull phases while cushioning declines.
This fund suits conservative equity investors who prioritize capital protection and steady compounding over aggressive outperformance, given its below-1 beta and strong drawdown control. A time horizon of at least 5 years is advisable to allow the fund's defensive style to compound, as shorter and very long windows show weaker category-relative results. Investors should be comfortable with moderate volatility and a portfolio heavily weighted toward financials.
- Consistently positive alpha versus NIFTY 50 across 1Y to 7Y horizons, peaking at 3.81% over 1 year
- Strong downside protection with downside capture below upside capture in all measured periods and a maximum drawdown of only -0.32%
- Low expense ratio of 0.46% for a direct plan, keeping more returns with the investor
- Underperforms category average SIP XIRR in most time windows, including a notable 4 percentage point gap over 7 years (11.54% vs 15.57%)
- Heavy sector concentration in banks at 21.8% of NAV exposes the fund to financial sector downturns
- Alpha fades to near zero over 10Y and 15Y horizons, with 15Y alpha slightly negative at -0.13%
Generated on 06-09-2026, 7:49 PM. 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 | ₹12.58 L | 14.2% | -50.1% | 68.2% |
| 3 Years | ₹36.00 L | ₹43.72 L | 15.0% | -3.6% | 31.5% |
| 5 Years | ₹60.00 L | ₹83.30 L | 15.1% | 4.1% | 26.0% |
| 7 Years | ₹84.00 L | ₹1.26 Cr | 11.5% | 8.1% | 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 | 14.2% | 14.4% | 15.6% | -0.1% |
| 3 Years | 15.0% | 11.1% | 14.9% | +4.0% |
| 5 Years | 15.1% | 10.4% | 15.6% | +4.7% |
| 7 Years | 11.5% | 10.6% | 15.6% | +1.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 13.6% | 9.2% | -27.0% | 70.7% | 0.38 | 0.94 | 75% | — | — |
| 3 Years | 15.3% | 15.2% | 7.6% | 25.9% | 2.42 | — | 100% | — | — |
| 5 Years | 15.5% | 16.0% | 9.0% | 22.5% | 2.77 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +3.81 | 0.97 | 97.8% | 92.4% | 1.2% | -2.9% |
| 3 Years | +1.90 | 1.03 | 100.2% | 97.6% | 9.7% | 7.8% |
| 5 Years | +1.64 | 0.98 | 96.0% | 93.6% | 9.4% | 7.8% |
| 7 Years | +1.26 | 0.88 | 91.2% | 89.5% | 12.4% | 11.8% |
| 10 Years | +0.25 | 0.87 | 88.5% | 87.2% | 8.8% | 8.9% |
| 12 Years | +0.07 | 0.87 | 88.5% | 87.2% | 7.3% | 7.4% |
| 15 Years | -0.13 | 0.87 | 88.5% | 87.2% | 5.8% | 5.8% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Ltd. | 6.94% |
| 2 | ICICI Bank Ltd. | 5.65% |
| 3 | Reliance Industries Ltd. | 4.79% |
| 4 | State Bank of India | 4.22% |
| 5 | Axis Bank Ltd. | 3.91% |
| 6 | Bharti Airtel Ltd. | 3.71% |
| 7 | SBI Life Insurance Company Ltd. | 2.33% |
| 8 | Mahindra & Mahindra Ltd. | 2.14% |
| 9 | ITC Ltd. | 2.09% |
| 10 | Infosys Ltd. | 1.94% |