Sundaram Flexicap Fund
Direct · GrowthAI Summary
Sundaram Flexicap Fund has delivered consistent alpha over the NIFTY 50 across all long-term periods, with a 3Y Fund CAGR of 11.29% versus the benchmark's 7.75% and a 3Y alpha of 3.60%. However, its SIP XIRR of 10.48% over 3Y trails the category average of 14.89%, indicating peers have done better on SIP-based returns. The 1Y XIRR of 15.00% is broadly in line with the category average of 15.6%.
The fund shows strong downside protection with a 3Y downside capture of 92.01% against an upside capture of 97.01%, and only 2 drawdown events exceeding 10%. The maximum drawdown of -15.66% took 158 days to bottom and 198 days to recover, which is a moderate recovery window. Calmar ratios of 0.98 (1Y) and 0.94 (3Y) reflect solid risk-adjusted returns relative to the depth of its worst drawdown.
The portfolio is heavily tilted toward financials, with Banks alone at 26.9% and five bank stocks (HDFC Bank, ICICI Bank, Axis Bank, SBI, Kotak Mahindra) among the top 10 holdings totaling roughly 24% of NAV. With 53 total holdings and the largest position at just 6.9%, single-stock risk is well contained, though sector concentration in banks is a notable exposure. Other meaningful allocations to IT-Software (6.6%), Automobiles (5.7%), and Industrial Products (5.1%) provide some diversification.
On lump-sum benchmark-relative performance, the fund stands out with positive alpha across every period from 1Y to 15Y and superior downside capture (88.32% over 5Y and beyond). On SIP XIRR, however, it lags category averages meaningfully — 10.48% vs 14.89% over 3Y — suggesting weaker compounding for systematic investors relative to peers. Calendar year returns show reasonable consistency, with 2023 at 25.44% and 2024 at 16.27%, though 2026 is currently negative at -4.44%.
This fund suits investors seeking large-cap-anchored flexicap exposure with a defensive tilt, given its below-benchmark downside capture and low-beta profile of 0.92. A time horizon of at least 5 years is appropriate to ride out drawdowns like the 198-day recovery from its maximum drawdown. Investors with moderate risk tolerance who prioritize capital protection in falling markets over maximum upside participation will find the risk-return profile appealing, though SIP investors should note the category lag.
- Consistent positive alpha versus NIFTY 50 across all periods, including 3.60% over 3Y and 2.68% over 5Y
- Strong downside protection with downside capture of 92.01% (3Y) and 88.32% (5Y+) versus upside capture near 97%
- Well-diversified 53-stock portfolio with the largest holding at only 6.9% of NAV and a reasonable 0.75% expense ratio
- SIP XIRR significantly lags the category average — 10.48% vs 14.89% over 3Y — indicating weaker performance for systematic investors
- Heavy sector concentration in Banks at 26.9% of the portfolio, with five bank stocks in the top 10 holdings
Generated on 11-09-2026, 3:08 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 | ₹12.77 L | 15.0% | -21.2% | 45.1% |
| 3 Years | ₹36.00 L | ₹42.59 L | 10.5% | 1.1% | 17.5% |
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 | 15.0% | 14.4% | 15.6% | +0.6% |
| 3 Years | 10.5% | 11.1% | 14.9% | -0.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.4% | 12.5% | -5.7% | 38.5% | 0.75 | 2.98 | 91% | — | — |
| 3 Years | 14.7% | 15.6% | 9.8% | 17.9% | 3.64 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.89 | 1.01 | 98.5% | 96.2% | -1.1% | -2.9% |
| 3 Years | +3.60 | 0.95 | 97.0% | 92.0% | 11.3% | 7.8% |
| 5 Years | +2.68 | 0.92 | 93.4% | 88.3% | 9.0% | 6.3% |
| 7 Years | +1.73 | 0.92 | 93.4% | 88.3% | 6.3% | 4.5% |
| 10 Years | +1.03 | 0.92 | 93.4% | 88.3% | 4.4% | 3.1% |
| 12 Years | +0.77 | 0.92 | 93.4% | 88.3% | 3.7% | 2.6% |
| 15 Years | +0.49 | 0.92 | 93.4% | 88.3% | 2.9% | 2.1% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd | 6.65% |
| 2 | HDFC Bank Ltd | 5.51% |
| 3 | Axis Bank Ltd | 4.40% |
| 4 | State Bank of India | 3.71% |
| 5 | Bharti Airtel Ltd | 3.66% |
| 6 | Larsen & Toubro Ltd | 3.55% |
| 7 | Reliance Industries Ltd | 3.45% |
| 8 | Infosys Ltd | 3.36% |
| 9 | Kotak Mahindra Bank Ltd | 3.21% |
| 10 | Kirloskar Oil Engines Ltd | 3.19% |