Tata Housing Opportunities Fund
Direct · GrowthAI Summary
Tata Housing Opportunities Fund has delivered positive alpha across all measured periods versus the NIFTY 50, with a 3Y Fund CAGR of 9.73% against the benchmark's 7.75% and alpha of 1.94%. However, its SIP XIRR of 8.68% over 3Y and 8.11% over 1Y trails the category average SIP XIRR of 16.82% and 14.1% respectively, indicating significant underperformance versus sectoral/thematic peers. Lump-sum performance is stronger, with a 3Y rolling return mean of 15.39% versus a 3Y point-to-point CAGR of 9.73%.
The fund shows a modest maximum drawdown of -0.24% with one drawdown event exceeding 10%, though recovery took 158 days and the recovery period is listed as not yet complete. Its 3Y Calmar Ratio of 0.5861 suggests moderate risk-adjusted returns. Downside capture is favorable at 96.27% over 3Y and 87.87% over longer periods, meaning the fund has historically fallen less than the NIFTY 50 in down markets while maintaining near-parity upside capture of 99.63% over 3Y.
The portfolio is diversified across 27 holdings, led by HDFC Bank (9.88%) and ICICI Bank (8.98%), with banks collectively at 24.8% of NAV. Cement (12.7%), consumer durables (12.3%), realty (9.1%), and power (7.8%) round out the top sectors, reflecting a housing-linked theme spanning financials, building materials, and construction. The top 10 holdings account for roughly 57% of NAV, indicating meaningful concentration in large-cap names.
The fund lags its category meaningfully on SIP returns, with 3Y XIRR of 8.68% versus the category average of 16.82%, a gap of over 8 percentage points. Calendar year returns are volatile, ranging from 41.25% in 2023 to -2.36% in 2025, typical of sectoral/thematic funds. Its consistent positive alpha versus the NIFTY 50 across 1Y to 15Y periods suggests stock selection has added value even as peer comparison remains weak.
This fund suits investors with high risk tolerance seeking thematic exposure to the housing and infrastructure ecosystem, ideally as a satellite allocation of 5-10% of the portfolio rather than a core holding. A time horizon of at least 5-7 years is advisable given the sector's cyclicality and the fund's volatile calendar-year returns. Investors should be comfortable with periods of underperformance versus both the benchmark and category peers.
- Consistent positive alpha versus NIFTY 50 across all periods, including 3.42% over 5Y and 4.07% over 1Y
- Favorable downside capture of 87.87% over longer periods, cushioning losses in weak markets
- Diversified 27-stock portfolio with quality large-cap anchors like HDFC Bank and ICICI Bank at a reasonable 0.82% expense ratio
- SIP XIRR of 8.68% (3Y) and 8.11% (1Y) trails the category average of 16.82% and 14.1% by a wide margin
- Maximum drawdown recovery is incomplete after 158 days, and calendar-year returns are highly volatile, from 41.25% in 2023 to -2.36% in 2025
Generated on 11-09-2026, 3:09 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 | ₹12.51 L | 15.7% | -29.9% | 56.5% |
| 3 Years | ₹36.00 L | ₹40.00 L | 7.1% | -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 | 15.7% | 14.4% | 14.1% | +1.2% |
| 3 Years | 7.1% | 11.1% | 16.8% | -4.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.5% | 6.6% | -12.1% | 47.1% | 0.49 | 1.46 | 70% | — | — |
| 3 Years | 14.2% | 15.0% | 9.0% | 18.5% | 2.84 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.07 | 1.11 | 106.2% | 100.5% | 0.1% | -2.9% |
| 3 Years | +1.94 | 1.03 | 99.6% | 96.3% | 9.7% | 7.8% |
| 5 Years | +3.42 | 0.97 | 94.9% | 87.9% | 9.6% | 6.1% |
| 7 Years | +2.33 | 0.97 | 94.9% | 87.9% | 6.7% | 4.3% |
| 10 Years | +1.54 | 0.97 | 94.9% | 87.9% | 4.7% | 3.0% |
| 12 Years | +1.24 | 0.97 | 94.9% | 87.9% | 3.9% | 2.5% |
| 15 Years | +0.94 | 0.97 | 94.9% | 87.9% | 3.1% | 2.0% |
| # | 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% |