Tata Large and Mid Cap Fund
Direct · GrowthAI Summary
Tata Large and Mid Cap Fund has delivered a 10Y SIP XIRR of 16.31% and a 5Y XIRR of 17.15%, broadly in line with the NIFTY 50 on a lump-sum basis (10Y fund CAGR of 12.95% vs benchmark 10.79%). However, its SIP XIRR trails the category average across most horizons, including 10.11% vs 16.54% over 1Y and 16.83% vs 17.73% over 3Y. Long-term alpha versus the benchmark is consistent, with alpha of 3.93% over 7Y and 4.13% over 12Y.
The fund exhibits a defensive risk profile relative to the NIFTY 50, with beta between 0.87 and 1.03 and downside capture of 84-97% across horizons, meaning it has historically fallen less than the benchmark. It has experienced 8 drawdown events exceeding 10%, and the maximum drawdown of -0.36% took 231 days to recover, indicating meaningful but manageable interim losses. Calmar ratios of roughly 0.43-0.48 across horizons suggest reasonable risk-adjusted returns, though not exceptional.
The portfolio holds 49 stocks with the top 10 accounting for roughly 46% of NAV, led by HDFC Bank at 8.7%. Sector concentration is notable in financials, with Banks at 23.8% and Finance at 7.1%, meaning nearly a third of the fund is exposed to financial services. Remaining exposure is spread across Telecom, Beverages, Auto Components, Realty, and Energy, providing moderate diversification beyond the financial-heavy core.
The fund's SIP XIRR lags the category average at every horizon shown, with the widest gap at 1Y (10.11% vs 16.54%) and narrower gaps at longer horizons such as 12Y (15.43% vs 16.49%). Its consistent alpha over the NIFTY 50 across 5Y to 15Y windows shows genuine long-term stock selection skill. Recent underperformance versus peers is a concern, but the long-term record remains competitive.
This fund suits investors with a high risk tolerance seeking exposure to both large and mid cap equities, given the mid cap component and the fund's history of double-digit drawdowns. A minimum horizon of 5-7 years is appropriate, as the fund's alpha and rolling returns strengthen meaningfully over longer windows. It works well as a core equity holding for investors comfortable with financial sector concentration and near-term underperformance versus peers.
- Consistent long-term alpha versus NIFTY 50, with alpha of 4.13% over 12Y and 3.93% over 7Y
- Below-benchmark downside capture (84.53% over 12Y), indicating resilience during market declines
- Diversified 49-stock portfolio with a reasonable 0.7% expense ratio in the Direct plan
- SIP XIRR trails the category average at every horizon, with a large 1Y gap of 10.11% vs 16.54%
- Heavy financial sector exposure, with Banks (23.8%) and Finance (7.1%) together comprising nearly 31% of the portfolio
Generated on 06-09-2026, 8:05 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 | ₹12.89 L | 17.8% | -53.4% | 90.5% |
| 3 Years | ₹36.00 L | ₹44.94 L | 15.4% | -17.4% | 32.4% |
| 5 Years | ₹60.00 L | ₹89.01 L | 15.4% | -5.9% | 27.5% |
| 7 Years | ₹84.00 L | ₹1.49 Cr | 15.7% | 1.1% | 23.3% |
| 10 Years | ₹1.20 Cr | ₹2.78 Cr | 16.1% | 11.3% | 19.6% |
| 12 Years | ₹1.44 Cr | ₹3.85 Cr | 15.1% | 11.7% | 18.0% |
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 | 17.8% | 14.4% | 16.5% | +3.5% |
| 3 Years | 15.4% | 11.1% | 17.7% | +4.3% |
| 5 Years | 15.4% | 10.4% | 17.3% | +5.0% |
| 7 Years | 15.7% | 10.6% | 16.6% | +5.1% |
| 10 Years | 16.1% | 11.5% | 16.8% | +4.6% |
| 12 Years | 15.1% | 11.4% | 16.5% | +3.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 17.3% | 13.8% | -25.6% | 91.7% | 0.60 | 2.09 | 86% | — | — |
| 3 Years | 16.0% | 16.3% | -3.7% | 33.9% | 1.56 | 9.03 | 99% | — | — |
| 5 Years | 15.7% | 15.8% | 0.6% | 28.7% | 2.06 | 20.38 | 100% | — | — |
| 10 Years | 15.8% | 15.9% | 12.5% | 18.8% | 5.73 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +0.49 | 1.03 | 97.8% | 97.3% | -2.7% | -2.9% |
| 3 Years | +1.02 | 0.96 | 93.4% | 91.3% | 8.7% | 7.8% |
| 5 Years | +3.11 | 0.91 | 89.8% | 85.2% | 10.8% | 7.8% |
| 7 Years | +3.94 | 0.87 | 87.8% | 82.9% | 15.0% | 11.8% |
| 10 Years | +2.68 | 0.88 | 88.9% | 84.9% | 12.9% | 10.8% |
| 12 Years | +4.13 | 0.89 | 90.0% | 84.5% | 13.5% | 9.8% |
| 15 Years | +3.93 | 0.88 | 89.8% | 84.2% | 13.3% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC BANK LTD | 8.70% |
| 2 | STATE BANK OF INDIA | 5.47% |
| 3 | IDFC FIRST BANK LTD | 4.86% |
| 4 | VARUN BEVERAGES LTD | 4.50% |
| 5 | GODREJ PROPERTIES LTD | 4.02% |
| 6 | ICICI BANK LTD | 4.01% |
| 7 | BHARTI AIRTEL LTD | 3.94% |
| 8 | RELIANCE INDUSTRIES LTD | 3.77% |
| 9 | SBI CARDS AND PAYMENT SERVICES LTD | 3.46% |
| 10 | PI INDUSTRIES LTD | 3.43% |