Union Largecap Fund
Direct · GrowthAI Summary
Union Largecap Fund has delivered consistent outperformance versus the NIFTY 50 over the past 7 years, with SIP XIRR of 15.0% over 7Y and 14.94% over 5Y, and positive alpha across the 1Y to 7Y periods (3.52% and 2.18% over 1Y and 3Y respectively). However, its XIRR of 8.88% over 1Y trails the category average of 14.08%, and over longer horizons (5Y: 14.94%, 7Y: 15.0%) it only modestly exceeds category averages of 14.04% and 14.09%. Lump-sum performance is also mixed, with 10Y+ alpha turning marginally negative (-0.13% to -0.16%).
The fund exhibits a beta near 1 (0.97-1.00) with consistently lower downside capture (94.92%-96.28%) than upside capture, indicating it loses less than the index in falling markets. Risk-adjusted returns are solid, with Calmar ratios of 0.38 over 3Y and 5Y, and only 4 drawdown events exceeding 10%. The maximum drawdown of -0.36% recovered in 228 days after a 66-day decline, suggesting contained and manageable loss episodes.
The portfolio holds 51 stocks with a largecap core, led by ICICI Bank (9.52%) and HDFC Bank (6.83%), with the top 10 holdings comprising roughly 46% of NAV. Sector concentration is notable in Banks at 26.2%, more than four times the next sector (Automobiles at 5.9%), making performance sensitive to the financial sector. The remaining allocation is well diversified across IT, petroleum, finance, telecom, and pharma.
Against category average SIP XIRR, the fund is roughly in line over 3Y (14.6% vs 14.28%), 5Y (14.94% vs 14.04%), and 7Y (15.0% vs 14.09%), but meaningfully behind over 1Y (8.88% vs 14.08%). Its consistent benchmark outperformance over 1Y-7Y with positive alpha reflects steady stock selection rather than concentrated bets. The weak 1Y showing suggests recent performance has lagged peers even as longer-term consistency remains intact.
This fund suits investors seeking largecap exposure with index-like risk but a modest edge from lower downside capture, ideally with a 5-7 year horizon where its XIRR of 14.94%-15.0% has been strongest. It is appropriate for moderate-risk investors comfortable with near-market volatility and a heavy 26.2% banking allocation. SIP investors benefit most from its steady long-term compounding, while those chasing near-term category-leading returns may be disappointed by the 1Y lag.
- Consistent benchmark outperformance with positive alpha across 1Y (3.52%), 3Y (2.18%), 5Y (1.41%), and 7Y (1.53%) periods
- Lower downside capture (94.92%-96.28%) than upside capture across all periods, cushioning losses in falling markets
- Strong long-term SIP XIRR of 14.94% (5Y) and 15.0% (7Y), ahead of category averages of 14.04% and 14.09%
- 1Y SIP XIRR of 8.88% significantly trails the category average of 14.08%, indicating recent underperformance versus peers
- Heavy sector concentration in Banks (26.2% of NAV) creates vulnerability to financial sector downturns
- Expense ratio of 1.75% is relatively high for a largecap fund, and 10Y+ alpha is marginally negative (-0.13% to -0.16%)
Generated on 01-09-2026, 2:51 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 | ₹12.52 L | 12.9% | -56.9% | 85.6% |
| 3 Years | ₹36.00 L | ₹44.29 L | 14.4% | -18.2% | 33.7% |
| 5 Years | ₹60.00 L | ₹84.96 L | 14.5% | 5.3% | 22.5% |
| 7 Years | ₹84.00 L | ₹1.40 Cr | 14.6% | 9.4% | 18.9% |
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 | 12.9% | 14.4% | 14.1% | -1.5% |
| 3 Years | 14.4% | 11.1% | 14.3% | +3.2% |
| 5 Years | 14.5% | 10.4% | 14.0% | +4.1% |
| 7 Years | 14.6% | 10.6% | 14.1% | +4.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 12.4% | 6.6% | -30.7% | 89.6% | 0.33 | 0.90 | 78% | — | — |
| 3 Years | 13.8% | 14.1% | -4.8% | 30.0% | 1.35 | 4.61 | 98% | — | — |
| 5 Years | 14.1% | 14.2% | 7.9% | 25.2% | 2.04 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +3.52 | 1.00 | 100.2% | 95.4% | 0.6% | -2.9% |
| 3 Years | +2.18 | 1.00 | 99.2% | 96.3% | 9.9% | 7.8% |
| 5 Years | +1.41 | 0.98 | 97.1% | 95.2% | 9.2% | 7.8% |
| 7 Years | +1.53 | 0.97 | 96.7% | 94.9% | 13.2% | 11.8% |
| 10 Years | -0.13 | 0.97 | 95.7% | 95.5% | 9.6% | 9.9% |
| 12 Years | -0.15 | 0.97 | 95.7% | 95.5% | 8.0% | 8.2% |
| 15 Years | -0.16 | 0.97 | 95.7% | 95.5% | 6.3% | 6.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 9.52% |
| 2 | HDFC Bank Ltd. | 6.83% |
| 3 | Reliance Industries Ltd. | 5.42% |
| 4 | State Bank of India | 4.61% |
| 5 | Bharti Airtel Ltd. | 4.37% |
| 6 | Larsen & Toubro Ltd. | 3.69% |
| 7 | Torrent Pharmaceuticals Ltd. | 3.25% |
| 8 | Axis Bank Ltd. | 3.02% |
| 9 | Eternal Ltd. | 2.88% |
| 10 | Mahindra & Mahindra Ltd. | 2.87% |