TATA HOUSING Opportunities Fund
Direct · GrowthAI Summary
TATA Housing Opportunities Fund has underperformed its category on SIP XIRR, delivering 7.49% over 1Y and 5.97% over 3Y versus category averages of 10.68% and 16.26% respectively. However, it has consistently beaten the NIFTY 50 on a lump-sum basis across all periods, with positive alpha at every horizon from 1Y (5.02%) through 15Y (0.87%). Calendar year returns have been volatile, ranging from 41.25% in 2023 to -5.6% in 2026.
The fund shows a maximum drawdown of just -0.24% over the measured period, though it has not yet recovered from that drawdown after 158 days, and one drawdown event exceeded 10%. Beta has declined from 1.08 at 1Y to 0.96 over longer horizons, with downside capture improving to 87.92% over 5Y and beyond, indicating better-than-market losses in downturns. Calmar ratios of 0.60 (1Y) and 0.54 (3Y) suggest modest risk-adjusted returns relative to the drawdowns experienced.
The portfolio is concentrated in 27 holdings, with banks dominating at 24.8% (HDFC Bank 9.88% and ICICI Bank 8.98% are the top two positions). Cement (12.7%), consumer durables (12.3%), realty (9.1%), and power (7.8%) round out the top sectors, giving meaningful exposure to housing-linked themes like cement, realty, and construction. The top 10 holdings account for roughly 57% of NAV, indicating a fairly concentrated book.
The fund trails its sectoral/thematic peers significantly on SIP XIRR at both 1Y and 3Y horizons, lagging the category average by over 10 percentage points at 3Y. Its consistency comes from benchmark outperformance rather than peer leadership, with positive alpha over 1Y, 3Y, and 5Y horizons. Calendar year results are uneven, with strong gains in 2023 and 2024 offset by losses in 2022, 2025, and 2026.
This fund suits investors with high risk tolerance seeking thematic exposure to India's housing and infrastructure ecosystem, including banks, cement, realty, and construction. A time horizon of at least 5-7 years is advisable given the sectoral concentration and return volatility. It should be treated as a satellite allocation rather than a core holding, given its underperformance versus category peers.
- Positive alpha versus NIFTY 50 across all measured horizons, including 5.02% over 1Y and 3.22% over 5Y
- Strong downside protection over long horizons, with downside capture of 87.92% over 5Y and beyond
- Low expense ratio of 0.82% for a sectoral/thematic fund in the Direct plan
- Significant SIP XIRR underperformance versus category averages, trailing by 10.29 percentage points at 3Y (5.97% vs 16.26%)
- Unrecovered maximum drawdown lasting 158 days and heavy concentration in banks (24.8%) and the top 10 holdings (~57% of NAV)
Generated on 23-10-2026, 2:54 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 | ₹12.47 L | 14.7% | -29.9% | 56.5% |
| 3 Years | ₹36.00 L | ₹38.69 L | 6.2% | -4.6% | 14.2% |
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 | 14.7% | 14.3% | 10.6% | +0.4% |
| 3 Years | 6.2% | 11.0% | 16.2% | -4.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 14.4% | 5.1% | -12.1% | 47.1% | 0.43 | 1.23 | 67% | — | — |
| 3 Years | 13.1% | 13.2% | 5.6% | 18.5% | 1.84 | 51.37 | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.24 | 1.09 | 105.6% | 101.3% | -9.8% | -12.4% |
| 3 Years | +0.13 | 1.03 | 98.1% | 96.8% | 6.6% | 6.5% |
| 5 Years | +2.90 | 0.96 | 94.4% | 88.6% | 7.8% | 4.9% |
| 7 Years | +1.97 | 0.96 | 94.4% | 88.6% | 5.5% | 3.5% |
| 10 Years | +1.28 | 0.96 | 94.4% | 88.6% | 3.8% | 2.4% |
| 12 Years | +1.03 | 0.96 | 94.4% | 88.6% | 3.2% | 2.0% |
| 15 Years | +0.77 | 0.96 | 94.4% | 88.6% | 2.5% | 1.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC BANK LTD | 9.88% |
| 2 | ICICI BANK LTD | 8.98% |
| 3 | ULTRATECH CEMENT LTD | 8.11% |
| 4 | LARSEN & TOUBRO LTD | 5.74% |
| 5 | NTPC LTD | 5.62% |
| 6 | PRESTIGE ESTATES PROJECTS LTD | 5.03% |
| 7 | JSW STEEL LTD | 4.44% |
| 8 | AMBUJA CEMENTS LTD | 3.56% |
| 9 | PG ELECTROPLAST LTD | 3.21% |
| 10 | VOLTAS LTD | 3.05% |