ReviewDirect · GrowthPrefer peers first
Mahindra Manulife Flexi Cap Fund
Mahindra Manulife Mutual FundEquity Schemes - Flexi Cap Fund5.2 years
The scheme seeks to generate long term capital appreciation by investing in a diversified portfolio of equity and equity-related securities across market capitalization.
- NAV
- 16.3307
- 27 Oct 2026
- 1Y
- -9.2%
- Trailing CAGR
- Upside capture
- +98%
- Vs NIFTY 500 TRI
- Downside capture
- +93%
- Lower is better
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 27 Oct 2026
Stance
Prefer peers first
The live read flags issues. Inspect same-category alternatives before buying.
In three lines
Watch if · Long-term category-relative performance remains stronger than the most recent rolling 1-year windows, which have deteriorated across multiple periods.
Watch if · Recent return trails the category median by 3 percentage points or more, with a weak rolling win rate.
Prefer peers if · Prefer WhiteOak Capital Flexi Cap Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
5.2 years of path to read.
Engine status
Fail
The live read flags issues. Inspect same-category alternatives before buying.
Expense ratio
Pass
0.99% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -17.2%. Ask whether you can hold through a similar fall.
Vs category
Fail
31% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Kirti Dalvi · 0.3 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Pass
Top 10 holdings ≈ 32.4% of the portfolio.
Browse category
Same-category peers are preloaded into compare when available.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
Drawdown rehearsal
This scheme’s worst fall on file is about 17%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
Review does not mean stop the SIP tomorrow - compare peers first. Stopping on a red label often locks in the worst path.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y-9.2%
- 3Y+9.3%
- 5Y+9.2%
- 10Yn/a
- SI+9.9%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-9.7%
- 3Y+0.1%
- 5Y+7.9%
- 10Yn/a
- Since inception
- +9.9%
- Calendar-day CAGR
- Excess 1Y
- -5.1%
- Category median, same plan and option
- 3Y win rate
- +31%
- Windows beating the median
- 3Y percentile
- 9
- Vs comparable share classes
- SIP 3Y XIRR
- +0.1%
- Simulated monthly SIP
- Worst rolling 3Y
- +8.1%
- 537 daily-ending windows
- Median rolling 3Y
- +17.6%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 43 daily-ending windows
Official benchmark
Date-aligned against NIFTY 500 TRI. Capture ratios use common month-end observations through 28 Oct 2026.
- 1Y excess
- -1.1%
- Fund minus TRI
- 3Y excess
- -0.7%
- Fund minus TRI
- Upside capture
- +98%
- Benchmark-up months
- Downside capture
- +93%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -17.2%
- Worst peak-to-trough
- Current
- -10.4%
- Below last peak
- Current spell
- 298 days
- Days below latest peak
- Time below peak
- +87%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 14 days
- 53 recovered episodes
- Longest recovery
- 262 days
- Trough to prior peak
17 Jan 2022 – 12 Sept 2022
Trough 20 Jun 2022 · recovered in 84 days
-17.2%
24 Sept 2024 – 17 Nov 2025
Trough 28 Feb 2025 · recovered in 262 days
-16.9%
2 Jan 2026 – open
Trough 31 Mar 2026 · not recovered
-14.8%
18 Oct 2021 – 11 Jan 2022
Trough 20 Dec 2021 · recovered in 22 days
-7.8%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
9
Vs category
18
Consistency
35
Risk-adjusted
42
Drawdown
57
Mean
32
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Review
Buying stance
Prefer peers first
The live read flags issues. Inspect same-category alternatives before buying.
Why this status
- Long-term category-relative performance remains stronger than the most recent rolling 1-year windows, which have deteriorated across multiple periods.
- Recent return trails the category median by 3 percentage points or more, with a weak rolling win rate.
- Three-year return sits below the 25th percentile of comparable share classes.
Supporting reads
No supporting reads in the current evidence set.
Portfolio
31 Aug 2026 · 76 holdings · top 10 are 32.4%.
- Top 5
- 21.9%
- Top 10
- 32.4%
- Largest holding
- 8.5%
- Effective holdings
- 45.7
ICICI Bank Ltd
Financial
8.5%
HDFC Bank Ltd
Financial
3.7%
Repo
Unspecified
3.3%
Bajaj Finance Ltd
Financial
3.3%
Bharti Airtel Ltd
Technology
3.1%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
27 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
26 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
21 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
19 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
16 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
24 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
21 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
18 Sept 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
WhiteOak Capital Flexi Cap Fund
WhiteOak Capital Mutual Fund
- 1Y
- -3.2%
- 3Y
- +14.0%
- Vol
- 12.8%
- Max DD
- -15.6%
- Sharpe
- 0.73
- 3Y win
- +100%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
ICICI Prudential Flexi Cap fund
ICICI Prudential Mutual Fund
- 1Y
- -2.3%
- 3Y
- +15.0%
- Vol
- 13.5%
- Max DD
- -19.7%
- Sharpe
- 0.67
- 3Y win
- +96%
- Lower volatility
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Deeper drawdown
Mirae Asset Flexi Cap Fund
Mirae Asset Mutual Fund
- 1Y
- -3.6%
- 3Y
- +12.1%
- Vol
- 13.4%
- Max DD
- -16.1%
- Sharpe
- 0.64
- 3Y win
- 0%
- Lower volatility
- Shallower drawdown
- Lower TER
- Higher trailing returns
360 ONE Flexicap Fund
360 ONE Mutual Fund
- 1Y
- +1.1%
- 3Y
- +16.4%
- Vol
- 14.9%
- Max DD
- -18.1%
- Sharpe
- 0.68
- 3Y win
- +100%
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
Canara Robeco Flexi Cap Fund
Canara Robeco Mutual Fund
- 1Y
- -7.1%
- 3Y
- +11.4%
- Vol
- 15.5%
- Max DD
- -33.2%
- Sharpe
- 0.53
- 3Y win
- +35%
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown