Union Focused Fund
Direct · GrowthAI Summary
Union Focused Fund has delivered consistent alpha over NIFTY 50 across long horizons, with a 7Y Fund CAGR of 16.83% versus the benchmark's 11.81% and alpha of 5.53%. On a SIP basis, its 5Y XIRR of 15.09% and 7Y XIRR of 14.71% are broadly in line with category averages of 15.29% and 15.17%, though its 1Y XIRR of 12.29% trails the category's 17.03%. Lump-sum rolling returns are strong, with the 5Y rolling mean at 18.03% versus a 5Y point-to-point CAGR of 11.62%.
The fund exhibits strong downside protection, with downside capture of 84.54% to 90.98% across periods versus upside capture near or above 100% in the 1Y window, and beta declining to 0.90 over longer horizons. Risk-adjusted returns are solid, with Calmar ratios stable around 0.49-0.55 across 1Y to 7Y windows. Five drawdown events exceeding 10% have occurred, so investors should expect meaningful interim declines despite the fund's defensive tilt.
The 28-stock focused portfolio is anchored by financials, with Banks at 23.7% across ICICI Bank (9.2%), HDFC Bank (4.18%), and Karur Vysya Bank (3.67%). The remainder is well spread across chemicals (8.8%), electrical equipment (8.4%), pharma (6.9%), and auto components (6.5%), with no single non-bank stock above 5%. This offers concentrated exposure with reasonable diversification beyond the top holding.
Against category peers, the fund's long-term SIP XIRR of 14.71% (7Y) sits slightly below the category average of 15.17%, and its 1Y XIRR of 12.29% lags the category's 17.03% notably. However, its consistent benchmark alpha across 1Y to 15Y windows and strong downside capture suggest a disciplined, risk-aware approach. Calendar year returns show steadiness, with positive years in 6 of the last 8 including 21.42% in 2023 and 35.25% in 2021.
This fund suits investors seeking a focused, large-cap-tilted core equity holding with below-benchmark downside risk and a long-term horizon of 5-7 years or more. It is appropriate for moderate risk tolerance, given the history of five drawdowns exceeding 10% and an expense ratio of 1.55% that requires long holding periods to justify. Investors wanting near-term category-beating SIP returns may find its recent 1Y performance underwhelming.
- Consistent alpha over NIFTY 50 across all periods from 1Y to 15Y, including 5.53% alpha over 7Y
- Strong downside capture of 84.54% to 90.98% with declining beta (0.90 over long horizons), indicating defensive characteristics
- Stable Calmar ratios of roughly 0.49-0.55 across 1Y to 7Y windows, reflecting consistent risk-adjusted returns
- 1Y SIP XIRR of 12.29% trails the category average of 17.03% by a wide margin, indicating recent relative underperformance among peers
- Expense ratio of 1.55% is relatively high, and the 23.7% banking sector concentration adds sector-specific risk
Generated on 01-09-2026, 2:47 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 | ₹12.84 L | 19.9% | -23.4% | 89.2% |
| 3 Years | ₹36.00 L | ₹44.24 L | 14.9% | 1.3% | 24.2% |
| 5 Years | ₹60.00 L | ₹84.08 L | 14.7% | 6.5% | 23.1% |
| 7 Years | ₹84.00 L | ₹1.40 Cr | 14.7% | 14.0% | 15.1% |
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 | 19.9% | 14.4% | 17.0% | +5.5% |
| 3 Years | 14.9% | 11.1% | 16.4% | +3.8% |
| 5 Years | 14.7% | 10.4% | 15.3% | +4.3% |
| 7 Years | 14.7% | 10.6% | 15.2% | +4.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.8% | 13.3% | -5.3% | 92.6% | 0.67 | 4.09 | 92% | — | — |
| 3 Years | 16.7% | 16.0% | 8.7% | 31.3% | 2.43 | — | 100% | — | — |
| 5 Years | 17.2% | 18.3% | 10.6% | 25.8% | 2.85 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +13.85 | 0.98 | 103.0% | 84.5% | 11.2% | -2.9% |
| 3 Years | +6.04 | 0.99 | 99.2% | 91.0% | 13.8% | 7.8% |
| 5 Years | +3.88 | 0.94 | 93.1% | 87.7% | 11.6% | 7.8% |
| 7 Years | +5.53 | 0.90 | 92.3% | 86.1% | 16.8% | 11.8% |
| 10 Years | +3.54 | 0.90 | 92.3% | 86.1% | 11.5% | 8.2% |
| 12 Years | +2.79 | 0.90 | 92.3% | 86.1% | 9.5% | 6.8% |
| 15 Years | +2.07 | 0.90 | 92.3% | 86.1% | 7.5% | 5.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 9.20% |
| 2 | Gabriel India Ltd. | 4.99% |
| 3 | Solar Industries India Ltd. | 4.93% |
| 4 | Tata Consumer Products Ltd. | 4.52% |
| 5 | Torrent Pharmaceuticals Ltd. | 4.32% |
| 6 | HDFC Bank Ltd. | 4.18% |
| 7 | Eternal Ltd. | 3.97% |
| 8 | Max Healthcare Institute Ltd. | 3.87% |
| 9 | Navin Fluorine International Ltd. | 3.85% |
| 10 | Karur Vysya Bank Ltd. | 3.67% |