Union Largecap Fund
Direct · GrowthAI Summary
Union Largecap Fund has delivered SIP XIRR of 13.34% over 3Y and 14.22% over 5Y, slightly below the category averages of 14.02% and 14.36% respectively. Against the NIFTY 50, the fund has generated positive alpha of 1.64% (3Y), 0.89% (5Y) and 1.38% (7Y), though alpha turns negative over 10Y and longer periods (-0.19%). Recent 1Y performance is weak at 6.09% XIRR versus the category average of 7.79%.
The fund shows a maximum drawdown of just -0.36% with a 66-day drawdown duration and 228-day recovery, indicating limited recent peak-to-trough stress, though it has experienced 4 drawdown events exceeding 10% historically. Calmar ratios of 0.33-0.38 across 1Y to 7Y windows reflect moderate risk-adjusted efficiency. Downside capture below 100% (94.23% at 1Y, 96.03% at 3Y) with beta near 1.0 suggests the fund cushions losses modestly better than the index.
The portfolio holds 52 stocks with a strong tilt toward financials, as Banks alone account for 26.5% of NAV, led by ICICI Bank (9.66%), HDFC Bank (6.49%), SBI (4.76%) and Axis Bank (3.2%). Reliance Industries (5.3%), Bharti Airtel (4.15%) and L&T (3.58%) round out the top holdings, with the top 10 positions comprising roughly 46% of the portfolio. Sector diversification beyond banks is reasonable, with Automobiles, IT, Petroleum and Finance each contributing 5-6%.
The fund trails category average SIP XIRR across 1Y, 3Y and 5Y horizons, though its 7Y XIRR of 14.25% slightly beats the category's 13.98%. Benchmark alpha has been positive over 3Y to 7Y windows but fades to negative over 10Y+, suggesting recent outperformance rather than a long-term edge. Calendar year returns show consistency in positive years, including 28.94% in 2021 and 22.62% in 2023, but 2026 is negative at -7.87%.
This fund suits investors seeking core large-cap exposure with a financials-heavy, index-like portfolio and moderate active risk. A minimum horizon of 5-7 years is appropriate given the lump-sum 5Y CAGR of 5.51% and 7Y CAGR of 11.69% versus the benchmark. Investors should tolerate periods of underperformance versus the category, as seen in the current 1Y and 3Y XIRR gaps.
- Consistent positive alpha versus NIFTY 50 over 3Y (1.64%), 5Y (0.89%) and 7Y (1.38%) windows
- Downside capture consistently below 100% (94-96%) across horizons, cushioning market falls
- Well-diversified 52-stock portfolio anchored in quality large caps like ICICI Bank and HDFC Bank
- SIP XIRR trails category averages across 1Y (6.09% vs 7.79%), 3Y (13.34% vs 14.02%) and 5Y (14.22% vs 14.36%)
- Alpha turns negative over 10Y to 15Y periods (-0.19%), and the 1.75% expense ratio is relatively high for a large-cap fund
Generated on 17-10-2026, 2:16 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 | ₹12.50 L | 12.6% | -56.9% | 85.6% |
| 3 Years | ₹36.00 L | ₹44.05 L | 14.0% | -18.2% | 33.7% |
| 5 Years | ₹60.00 L | ₹84.67 L | 14.2% | 4.6% | 22.5% |
| 7 Years | ₹84.00 L | ₹1.39 Cr | 14.3% | 8.4% | 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 | 12.6% | 14.3% | 7.8% | -1.7% |
| 3 Years | 14.0% | 11.0% | 14.0% | +3.0% |
| 5 Years | 14.2% | 10.4% | 14.4% | +3.8% |
| 7 Years | 14.3% | 10.6% | 14.0% | +3.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 12.1% | 6.3% | -30.7% | 89.6% | 0.32 | 0.84 | 77% | — | — |
| 3 Years | 13.7% | 14.0% | -4.8% | 30.0% | 1.32 | 4.57 | 98% | — | — |
| 5 Years | 13.8% | 13.9% | 5.2% | 25.2% | 1.89 | 90.72 | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.85 | 0.98 | 96.9% | 94.8% | -7.4% | -9.5% |
| 3 Years | +1.37 | 1.00 | 98.0% | 96.1% | 6.8% | 5.5% |
| 5 Years | +0.75 | 0.98 | 96.2% | 95.1% | 5.4% | 4.6% |
| 7 Years | +1.25 | 0.97 | 96.5% | 94.9% | 11.7% | 10.6% |
| 10 Years | -0.27 | 0.96 | 95.5% | 95.5% | 9.0% | 9.4% |
| 12 Years | -0.26 | 0.96 | 95.5% | 95.5% | 7.5% | 7.8% |
| 15 Years | -0.25 | 0.96 | 95.5% | 95.5% | 5.9% | 6.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 9.66% |
| 2 | HDFC Bank Ltd. | 6.49% |
| 3 | Reliance Industries Ltd. | 5.30% |
| 4 | State Bank of India | 4.76% |
| 5 | Bharti Airtel Ltd. | 4.15% |
| 6 | Larsen & Toubro Ltd. | 3.58% |
| 7 | Torrent Pharmaceuticals Ltd. | 3.22% |
| 8 | Axis Bank Ltd. | 3.20% |
| 9 | Eternal Ltd. | 3.13% |
| 10 | Infosys Ltd. | 2.86% |