EquityFlexi Cap FundRegularIDCWVery High

DSP Flexi Cap Fund

Q: What is the NAV of DSP Flexi Cap Fund?

As of 05 Oct 2026, the NAV of DSP Flexi Cap Fund is ₹55.52 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Flexi Cap Fund delivered?

DSP Flexi Cap Fund has returned -12.27% over 1 year, -0.15% per year over 3 years, -1.60% per year over 5 years and +1.63% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of DSP Flexi Cap Fund?

DSP Flexi Cap Fund charges an expense ratio of 1.88% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of DSP Flexi Cap Fund?

DSP Flexi Cap Fund's largest holdings are ICICI Bank Limited (9.6%), HDFC Bank Limited (8.0%), Axis Bank Limited (4.9%), Mahindra & Mahindra Limited (4.3%) and State Bank of India (3.6%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Flexi Cap Fund?

DSP Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.6% and its worst peak-to-trough fall in our sample was -61.6%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -0.40 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Flexi Cap Fund's -0.40 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of DSP Flexi Cap Fund?

DSP Flexi Cap Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Flexi Cap Fund?

DSP Flexi Cap Fund is managed by Bhavin Gandhi at DSP.

Q: How is DSP Flexi Cap Fund taxed?

DSP Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

DSP Mutual Fund · Best Flexi Cap Mutual Funds

NAV

₹55.52

+0.02% 1D

as of 05 Oct 2026

This is the Regular plan of DSP Flexi Cap Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+8.63% 3Y CAGR)

Performance

-12.91%absolute

52-week rangePrev NAV ₹55.51

Latest ₹55.52

Low ₹51.2930th percentile of its 52-week rangeHigh ₹65.51

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Equity funds (same plan and option) to rank against yet.

Performance—

Not enough Flexi Cap Fund peers to rank yet

Risk—

Volatility 16.6% (no category average yet)

Cost—

1.9% expense (no category average yet)

ConsistencyLow

68% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

No standout strengths identified.

Concerns

Positive in only 68% of rolling 3-year windows

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.88%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

20.87

Category —

Excess return per unit of total volatility (rf = 6.5%)

-0.40

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Holding period from the date of allotment: < 12 months - 1% >= 12 months – Nil Note: No exit load shall be levied in case of switch of investment from Regular Plan to Direct Plan and vice versa. In respect of Systematic Transactions such as SIP, STPs etc., Exit Load, if any, prevailing on the date of registration / enrolment shall be levied.

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

Nifty 500 TRI

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

03 Apr 2006

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-5.27%

Absolute return over the last 3 months (not annualized)

-5.20%

Absolute return over the last 6 months (not annualized)

+6.30%

Absolute return since 1 Jan of this year (not annualized)

-14.42%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-12.27%

3-year annualized return (CAGR)

-0.15%

5-year annualized return (CAGR)

-1.60%

10-year annualized return (CAGR)

-0.59%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+1.63%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

16.64%

Excess return per unit of total volatility (rf = 6.5%)

-0.40

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

-0.49

Largest peak-to-trough decline over full history

-61.55%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

-9.01%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

1.02

How much of the fund's movement Nifty 500 TRI explains

76.9%

Excess return per unit of beta (market risk)

-6.50

Active return over the benchmark per unit of tracking error

-1.11

Annualized std dev of fund-minus-benchmark returns

8.84%

Fund's share of benchmark gains in up months (100 = matches index)

75.5%

Fund's share of benchmark losses in down months (lower is better)

119.7%

Computed vs the Nifty 500 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Flexi Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-5.27%	—	—
3M abs	-5.20%	—	—
6M abs	+6.30%	—	—
1Y CAGR	-12.27%	—	—
3Y CAGR	-0.15%	—	—
5Y CAGR	-1.60%	—	—

Category average across peers in Flexi Cap Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹5.80L

Absolute

-3.26%

XIRR

-1.35%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into DSP Flexi Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty 500 TRI	Diff
2026part	-14.42%	-7.18%	-7.24%
2025	-3.61%	+7.94%	-11.55%
2024	+8.57%	+16.43%	-7.86%
2023	+21.63%	+27.43%	-5.80%
2022	-14.03%	+4.34%	-18.37%
2021	+19.03%	+31.59%	-12.56%
2020	+3.89%	+18.33%	-14.44%
2019	+3.64%	+8.95%	-5.31%
2018	-31.17%	-2.33%	-28.84%
2017	+27.53%	+37.35%	-9.82%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

History points

5,050

Expense ratio

1.88%

AUM

₹11,816Cr

Portfolio turnover

36%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

20.9

P/B ratio

4.4

Avg market cap

₹3,73,099Cr

P/E & P/B are portfolio-weighted harmonic means across 59 of 66 equity holdings (91% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Flexi Cap Fund

Compare all


DSP Flexi Cap FundThis fund DSP · Regular · IDCW	—	-12.27%	-0.15%	-1.60%	—	1.88%	₹11,816Cr
Bank of India Flexi Cap Fund Bank of India · Regular · IDCW	—	+7.59%	+17.02%	+14.29%	—	2.28%	₹2,414Cr
360 ONE Flexicap Fund 360 One · Regular · IDCW	—	+6.57%	+15.08%	—	—	2.37%	₹2,018Cr
ITI Flexi Cap Fund ITI · Regular · IDCW	—	+5.70%	+14.96%	—	—	2.31%	₹1,304Cr
Bajaj Finserv Flexi Cap Fund Bajaj Finserv · Regular · IDCW	—	+2.02%	+14.02%	—	—	2.24%	₹7,090Cr
Quant Flexi Cap Fund quant · Regular · IDCW	—	+7.12%	+13.58%	+12.07%	—	2.20%	₹6,713Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap61.9%
Mid cap25.9%
Small cap12.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity95.30%
Cash & Equivalents4.70%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
DSP Focused Fund DSP · Focused Fund	66.3%	★★★☆☆	1.11%	+12.17%
DSP ELSS Tax Saver Fund DSP · ELSS	60.5%!	★★★★★	0.92%	+11.96%
DSP Large & Mid Cap Fund DSP · Large & Mid Cap Fund	59.8%	★★★★☆	0.79%	+12.20%
DSP Aggressive Hybrid Fund DSP · Aggressive Hybrid Fund	57.7% of 72% equity	★★★★☆	0.79%	+9.13%
DSP Value Fund DSP · Value Fund	49.5% of 80% equity	★★★★★	1.55%	+15.37%
Groww Large Cap Fund Groww · Large Cap Fund	49.1%	★★☆☆☆	1.69%	+9.30%
DSP Dynamic Asset Allocation Fund DSP · Dynamic Asset Allocation or Balanced Advantage	48.4% of 71% equity	★★★☆☆	1.04%	+9.86%
Nippon India Balanced Advantage Fund Nippon India · Dynamic Asset Allocation or Balanced Advantage	46.3% of 72% equity	★★★★☆	0.89%	+9.88%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-61.5%04 Jan 2008 → 09 Mar 2009
Fell over 14 months, back to the old high on 02 Mar 2015 — 6.0 years under water after the low.
-58.5%03 Mar 2015 → 23 Mar 2020
Fell over 5.1 years, back to the old high on 29 Aug 2024 — 4.4 years under water after the low.
-33.9%10 May 2006 → 14 Jun 2006
Fell over 35 days, back to the old high on 13 Nov 2006 — 5 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹11,816Cr

April - June 2026

-1%

since January - March 2026

+₹1,481Cr

est. net flow, last quarter

At or near its largest, ₹11,886Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

DSP Mutual Fund is run by DSP Asset Managers, part of the DSP Group, a Mumbai financial firm whose broking lineage runs back to 1860. The house operated as a joint venture with BlackRock — and Merrill Lynch before it — until the DSP family bought out the foreign stake in 2018.

Launched

15 Dec 1996

Total AUM

₹2,29,802Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

dspim.com

Fund Managers

BGBhavin GandhiStart date not disclosed

Education

Chartered Accountant and CFA charter holder

Experience

Over 21 years of experience Feb-24 – till date: DSP Asset Fund Managers Private Limited- Fund Manager of Mutual Fund Scheme Apr-23 to Dec-23: DSP Asset Managers Private Limited – Fund Manager of AIF Apr-22 to Mar-23: DSP Investment Managers Private Limited-Fund Manager of AIF Feb-21-Mar-22:DSP Investment managers Private Limited- Part of the equity research team of DSPIM Dec-05-Jan-21: Batlilvala and Karani Securities -- Research Analyst in the sell side brokerage house responsible for tracking Oil and Gas and Logistics Feb-04-Dec-05- Crisil – Executive Analyst: Responsible for housing finance companies and paper companies

Funds managed (1)

DSP Focused Fund

All schemes Bhavin Gandhi runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Bhavin Gandhi

Top holdings

ICICI Bank Limited HDFC Bank Limited Axis Bank Limited Mahindra & Mahindra Limited State Bank of India Bharti Airtel Limited Cholamandalam Investment and Finance Co Limited Coforge Limited Bajaj Finance Limited Cipla Limited Bharat Petroleum Corporation Limited SBI Life Insurance Co Limited

DSP in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

Run SIP calculator Add to compare

Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Flexi Cap funds

Flexi cap funds invest across large, mid and small-cap stocks with no fixed allocation, letting the manager shift with the market cycle. That flexibility can help manage risk and chase growth wherever it is.

Frequently asked questions

What is the NAV of DSP Flexi Cap Fund?

As of 05 Oct 2026, the NAV of DSP Flexi Cap Fund is ₹55.52 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Flexi Cap Fund delivered?

DSP Flexi Cap Fund has returned -12.27% over 1 year, -0.15% per year over 3 years, -1.60% per year over 5 years and +1.63% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of DSP Flexi Cap Fund?

DSP Flexi Cap Fund charges an expense ratio of 1.88% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of DSP Flexi Cap Fund?

DSP Flexi Cap Fund's largest holdings are ICICI Bank Limited (9.6%), HDFC Bank Limited (8.0%), Axis Bank Limited (4.9%), Mahindra & Mahindra Limited (4.3%) and State Bank of India (3.6%). Holdings are disclosed monthly and change over time.

How risky is DSP Flexi Cap Fund?

DSP Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.6% and its worst peak-to-trough fall in our sample was -61.6%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of -0.40 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Flexi Cap Fund's -0.40 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of DSP Flexi Cap Fund?

DSP Flexi Cap Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Who manages DSP Flexi Cap Fund?

DSP Flexi Cap Fund is managed by Bhavin Gandhi at DSP.

How is DSP Flexi Cap Fund taxed?

DSP Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.