HDFC Flexicap Fund: Champion of Flexicap Funds

HDFC Flexicap Fund has recently completed 30 years. In terms of pedigree, this fund is in a class of its own. It is one of the highest wealth creators among flexicap funds and has been very popular with investors over the past 3 decades. The assets under management of the fund recently crossed Rs 1 lakh crores, a very rare feat achieved by only very few funds (including another HDFC MF scheme). The wealth creation track record of the fund is remarkable. The chart below shows the growth of Rs 1 lakh investment in the fund since its inception. Rs 1 lakh invested in the fund at its inception would have grown in value to around Rs 2.04 crores (as on 31^st January 2026).

Source: Advisorkhoj Research, as on 31^st January 2026

The SIP performance track record of the fund is equally impressive. The chart below shows the growth of Rs 10,000 SIP in the fund over the last 20 years. You can see that with a cumulative investment of Rs 24 lakhs, you could have accumulated a corpus of more than Rs 1.4 crores (as on 31^st January 2026).

Source: Advisorkhoj Research, as on 31^st January 2026

The pedigree of a fund comes from performance consistency. The graphic below shows the quartile rankings of HDFC Flexicap Fund for the last 10 calendar years plus the current year (YTD). You can see that the fund has been in the top 2 quartiles 7 times in the last 10 years and is in top quartile in the current year too.

Source: Advisorkhoj Research, as on 24^th February 2026

The fund's performance consistency versus peers is high even on a quarterly basis. The graphic below shows the quartile rankings of HDFC Flexicap Fund for the last 12 quarters. You can see that the fund has been in the top 2 quartiles, 10 times in the last 12 quarters.

Source: Advisorkhoj Research, as on 31^st December 2025

The 5 year rolling returns of the fund versus the benchmark index over the last 20 years is also a testimony of the pedigree of the fund. You can see that the barring a brief period, the fund has outperformed the benchmark index consistently across different market conditions.

Source: Advisorkhoj Research, as on 24^th February 2026

The rolling returns distribution of the fund versus benchmark index over different investment tenures, shows that the fund provided superior investment outcomes in terms of delivering 12%+ CAGR returns compared to the benchmark index, with instances of downside not higher than benchmark over 5 years or longer investment tenures.

Source: Advisorkhoj Research, as on 24^th February 2026. 1. Fund: HDFC Flexicap Fund Regular Plan, Growth Option. 2. Benchmark: Nifty 500 TRI

The fund also outperformed the category average consistently over 5 year investment tenures across different market conditions in the last 20 years.

Source: Advisorkhoj Research, as on 24^th February 2026

The rolling returns distribution of the fund versus category average over different investment tenures, shows that the fund provided superior investment outcomes in terms of delivering 12%+ CAGR returns compared to the peer average, with instances of downside same or significantly higher than peer average over 5 years or longer investment tenures.

Source: Advisorkhoj Research, as on 24^th February 2026. 1. Fund: HDFC Flexicap Fund Regular Plan, Growth Option. 2. Category: Flexicap Fund category average

The chart below shows the drawdowns of the fund versus the benchmark index over the last 5 years. You can see that the fund was able to limit downside risks for the investors. In the last 5 years, HDFC Flexicap Fund has beaten the benchmark index in both up markets and down market. The Up Market capture ratio of the fund in the last 5 years was 102%, while the down market capture ratio was just 60%.

Source: Advisorkhoj Research. Period: 31^st January 2021 to 31^st January 2026.

Why have long investment tenures?

The chart below shows the 10 year rolling SIP XIRR since the inception of the fund. You can see that the fund almost always gave double digit returns.

Source: Advisorkhoj Research, as on 24^th February 2026.

The table below show the rolling SIP XIRR distribution since the inception of the scheme. You can see that instances of negative returns decreases with investment tenures, at the same time, the instances of >12%+ XIRR returns increases with investment tenures.

Source: Advisorkhoj Research, as on 24^th February 2026.

Investment Approach

Current portfolio positioning

Source: HDFC MF, as on 31^st January 2026.

Who can find HDFC Flexicap Fund suitable?

• Investors seeking capital appreciation and wealth creation over long investment tenures


• Investors who want to invest for their long term financial goals


• Investors who want exposure across market cap segments


• Investors with sufficiently high risk appetites


• Investors with minimum investment tenures of 5 years


• Investors who want to invest from their monthly savings through SIP

Investors should consult with their financial advisors or mutual fund distributors if HDFC Flexicap Fund is suitable for their investment needs.