Union Flexi Cap Fund
Direct · GrowthAI Summary
Union Flexi Cap Fund has delivered consistent alpha over the NIFTY 50 across all measured periods, with 3Y, 5Y, and 7Y alphas of 5.57%, 4.25%, and 6.01% respectively. Its SIP XIRR of 15.83% over 3Y and 16.82% over 5Y beats the category averages of 14.89% and 15.64%, though the 1Y XIRR of 11.22% lags the category's 15.6%. Long-term lump-sum performance is also solid, with a 10Y CAGR of 13.71% versus the benchmark's 10.79%.
The fund exhibits defensive characteristics with a beta of roughly 0.90-0.93 over longer periods and downside capture consistently below 88%, meaning it falls less than the benchmark in corrections. Risk-adjusted returns are strong, with positive alpha across all windows and Calmar ratios around 0.39-0.44. However, the fund has experienced 7 drawdown events exceeding 10%, and its current maximum drawdown of -0.35% took 177 days to recover, indicating occasional prolonged recovery periods.
The portfolio is diversified across 67 holdings, with the top 10 accounting for roughly 29% of NAV. Financials dominate, with Banks at 21.3% and Finance at 6.9%, led by ICICI Bank (6.63%), HDFC Bank (4.55%), and Axis Bank (3.94%). Sector exposure is otherwise spread across Pharmaceuticals (8.8%), Retailing (4.7%), and IT (4.5%), providing reasonable diversification beyond the financial-heavy tilt.
The fund outperforms the category average SIP XIRR over 3Y (15.83% vs 14.89%) and 5Y (16.82% vs 15.64%), but trails over 1Y (11.22% vs 15.6%), 10Y (15.58% vs 16.09%), and 12Y (14.78% vs 15.4%). This suggests strong recent-to-medium-term performance but only mid-pack long-term positioning among peers. Calendar year returns show consistency, with only three negative years since 2013 and double-digit gains in most years.
This fund suits investors seeking a flexi cap core holding with a defensive tilt, given its below-benchmark downside capture and moderate beta. A minimum horizon of 5 years is recommended to allow the fund's alpha to compound through market cycles. Investors should have moderate risk tolerance, as the fund can still post negative calendar years and has seen multiple 10%+ drawdowns.
- Consistent positive alpha versus NIFTY 50 across all periods from 1Y to 15Y, including 6.01% alpha over 7Y
- Superior downside protection with downside capture of 85-91% across all windows, cushioning corrections
- 3Y and 5Y SIP XIRR above category averages, with strong 5Y XIRR of 16.82%
- Underperformance versus category average SIP XIRR over 1Y, 10Y, and 12Y horizons
- Heavy financial sector concentration, with Banks and Finance together at 28.2% of the portfolio
- 1Y lump-sum CAGR of 5.72% trails the benchmark's -2.9% by a wide margin only due to alpha, but absolute returns remain modest in the short term
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 | ₹12.70 L | 16.3% | -53.1% | 88.6% |
| 3 Years | ₹36.00 L | ₹42.93 L | 13.9% | -18.9% | 39.2% |
| 5 Years | ₹60.00 L | ₹87.35 L | 14.6% | -7.8% | 26.3% |
| 7 Years | ₹84.00 L | ₹1.48 Cr | 15.3% | -2.6% | 22.5% |
| 10 Years | ₹1.20 Cr | ₹2.70 Cr | 15.5% | 12.0% | 18.6% |
| 12 Years | ₹1.44 Cr | ₹3.68 Cr | 14.6% | 12.2% | 16.7% |
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 | 16.3% | 14.4% | 15.6% | +2.0% |
| 3 Years | 13.9% | 11.1% | 14.9% | +2.8% |
| 5 Years | 14.6% | 10.4% | 15.6% | +4.2% |
| 7 Years | 15.3% | 10.6% | 15.6% | +4.7% |
| 10 Years | 15.5% | 11.5% | 16.1% | +4.0% |
| 12 Years | 14.6% | 11.4% | 15.4% | +3.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.6% | 11.4% | -27.5% | 95.8% | 0.48 | 1.44 | 82% | — | — |
| 3 Years | 14.0% | 13.8% | -5.2% | 33.4% | 1.17 | 6.17 | 99% | — | — |
| 5 Years | 14.2% | 14.2% | -2.7% | 28.6% | 1.41 | 7.63 | 99% | — | — |
| 10 Years | 13.9% | 14.0% | 10.7% | 16.1% | 7.05 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.66 | 1.00 | 102.3% | 90.6% | 5.7% | -2.9% |
| 3 Years | +5.57 | 0.97 | 97.9% | 90.4% | 13.3% | 7.8% |
| 5 Years | +4.25 | 0.93 | 93.0% | 87.1% | 12.0% | 7.8% |
| 7 Years | +6.01 | 0.90 | 92.0% | 85.3% | 17.3% | 11.8% |
| 10 Years | +3.33 | 0.91 | 91.3% | 86.8% | 13.7% | 10.8% |
| 12 Years | +2.82 | 0.91 | 91.5% | 87.7% | 12.3% | 9.8% |
| 15 Years | +2.55 | 0.91 | 91.3% | 87.5% | 12.0% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 6.63% |
| 2 | HDFC Bank Ltd. | 4.55% |
| 3 | Axis Bank Ltd. | 3.94% |
| 4 | State Bank of India | 3.46% |
| 5 | Bajaj Finance Ltd. | 2.52% |
| 6 | Bharti Airtel Ltd. | 2.50% |
| 7 | Dr. Lal Path labs Ltd. | 2.43% |
| 8 | Cholamandalam Investment & Finance Co. Ltd. | 2.04% |
| 9 | Gabriel India Ltd. | 2.04% |
| 10 | Eternal Ltd. | 2.01% |