Union Innovation and Opportunities Fund
Direct · GrowthAI Summary
Union Innovation and Opportunities Fund has delivered strong alpha against the NIFTY 50 across all periods, with a 1Y fund CAGR of 16.08% versus -2.9% for the benchmark and a 3Y fund CAGR of 19.13% versus 6.31%. On the primary SIP metric, its 3Y XIRR of 17.77% modestly beats the category average of 16.82%, though its 1Y XIRR of 10.9% trails the category's 14.1%. Calendar year returns show volatility, ranging from -3.29% in 2025 to 42.9% in 2024.
The fund shows a maximum drawdown of just -0.24% with only one drawdown event exceeding 10%, but the recovery from max drawdown took 449 days, indicating slow rebound behavior. Its Calmar Ratio of 0.62 on a 1Y basis suggests moderate risk-adjusted efficiency. Downside capture of 79.51% (1Y) and 87.64% (3Y) versus upside capture above 104% indicates the fund has historically protected capital in weak markets while participating more fully in rallies.
The 49-stock portfolio is reasonably diversified, with the top holding Eternal Ltd. at only 4.73% of NAV and the top ten holdings together under 32%. Sector exposure is spread across Retailing (13.1%), Auto Components (11.4%), Electrical Equipment (6.9%), IT Services (6.4%), and Pharma (6.3%), reflecting a genuine innovation and new-economy theme rather than a single-sector bet. Holdings like One 97 Communications, Ather Energy, and Delhivery give meaningful exposure to fintech, EVs, and logistics.
Against sectoral/thematic peers, the fund's 3Y SIP XIRR of 17.77% is above the category average of 16.82%, though its 1Y XIRR of 10.9% lags the 14.1% category mean, suggesting recent relative softness. Long-term alpha versus the NIFTY 50 is consistently positive but narrows over longer windows, from 18.98% at 1Y to 2.33% at 15Y. The fund's expense ratio of 0.87% is competitive for the direct plan of a thematic offering.
This fund suits investors with high risk tolerance seeking thematic exposure to India's innovation-driven sectors such as fintech, EVs, and advanced manufacturing. A time horizon of at least 5-7 years is advisable, given the volatility of calendar-year returns and the thematic concentration risk. It should be treated as a satellite allocation within a diversified portfolio rather than a core holding, ideally through SIPs to smooth entry points.
- Consistent positive alpha versus NIFTY 50 across all periods from 1Y (18.98%) to 15Y (2.33%)
- Favorable capture profile with upside capture above 104% and downside capture below 88% across 3Y and longer windows
- Well-diversified 49-stock portfolio with no single holding above 4.73% of NAV
- 1Y SIP XIRR of 10.9% trails the category average of 14.1%, indicating recent underperformance versus thematic peers
- Long recovery time from max drawdown (449 days) and a modest 1Y Calmar Ratio of 0.62 point to sluggish rebound characteristics
Generated on 10-09-2026, 3:03 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 | ₹12.61 L | 15.3% | -24.1% | 68.4% |
| 3 Years | ₹36.00 L | ₹46.20 L | 17.8% | 16.3% | 18.5% |
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 | 15.3% | 14.4% | 12.2% | +0.9% |
| 3 Years | 17.8% | 11.1% | 15.8% | +6.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 14.9% | 10.3% | -6.5% | 52.0% | 0.56 | 2.81 | 92% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +18.98 | 1.00 | 103.9% | 79.5% | 16.1% | -2.9% |
| 3 Years | +12.82 | 1.00 | 104.9% | 87.6% | 19.1% | 6.3% |
| 5 Years | +7.33 | 1.00 | 104.9% | 87.6% | 11.1% | 3.7% |
| 7 Years | +5.13 | 1.00 | 104.9% | 87.6% | 7.8% | 2.7% |
| 10 Years | +3.54 | 1.00 | 104.9% | 87.6% | 5.4% | 1.9% |
| 12 Years | +2.93 | 1.00 | 104.9% | 87.6% | 4.5% | 1.5% |
| 15 Years | +2.33 | 1.00 | 104.9% | 87.6% | 3.6% | 1.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Eternal Ltd. | 4.73% |
| 2 | One 97 Communications Ltd. | 4.38% |
| 3 | Ather Energy Ltd. | 3.20% |
| 4 | CG Power and Industrial Solutions Ltd. | 2.99% |
| 5 | Acutaas Chemicals Ltd. | 2.91% |
| 6 | Sai Life Sciences Ltd. | 2.80% |
| 7 | ZF Commercial Vehicle Control Systems India Ltd. | 2.79% |
| 8 | S.J.S. Enterprises Ltd. | 2.78% |
| 9 | Sona Blw Precision Forgings Ltd. | 2.74% |
| 10 | Delhivery Ltd. | 2.66% |