EquityFlexi Cap FundDirectIDCWVery High

ITI Flexi Cap Fund

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

As of 01 Oct 2026, the NAV of ITI Flexi Cap Fund is ₹19.90 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has ITI Flexi Cap Fund delivered?

ITI Flexi Cap Fund has returned +7.67% over 1 year, +16.41% per year over 3 years and +21.28% 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 ITI Flexi Cap Fund?

ITI Flexi Cap Fund charges an expense ratio of 0.88% 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 ITI Flexi Cap Fund?

ITI Flexi Cap Fund's largest holdings are ICICI Bank Limited (4.8%), Reliance Industries Limited (3.7%), HDFC Bank Limited (3.6%), Bharti Airtel Limited (2.3%) and Larsen & Toubro Limited (2.2%). Holdings are disclosed monthly and change over time.

Q: How risky is ITI Flexi Cap Fund?

ITI Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.5% and its worst peak-to-trough fall in our sample was -21.4%. 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 0.60 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. ITI Flexi Cap Fund's 0.60 means it has rewarded its volatility with excess return. Higher is better.

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

ITI Flexi Cap Fund is benchmarked against the Nifty 500 Total Return Index. Its alpha and beta on this page are measured against that index.

Q: Who manages ITI Flexi Cap Fund?

ITI Flexi Cap Fund is managed by Dhimant Shah and Nilay Dalal at ITI.

Q: How is ITI Flexi Cap Fund taxed?

ITI 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.

ITI Mutual Fund · Best Flexi Cap Mutual Funds

NAV

₹19.90

-0.74% 1D

as of 01 Oct 2026

This is the Direct plan of ITI Flexi Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

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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 (+17.65% 3Y CAGR)

Performance

+8.65%CAGR

52-week rangePrev NAV ₹20.05

Latest ₹19.90

Low ₹16.3681st percentile of its 52-week rangeHigh ₹20.75

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 16.5% (no category average yet)

Cost—

0.9% expense (no category average yet)

ConsistencyHigh

100% 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

Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.88%

Category —

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

25.39

Category —

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

0.60

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

None

If redeemed/Switched out on or before 3 Months from the date of allotment; Exit Load is 0.50% Exit Load after completion of 3 months - NIL

Up to 0.50%

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

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Nifty 500 Total Return Index

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.

22 Feb 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.63%

Absolute return over the last 3 months (not annualized)

+0.48%

Absolute return over the last 6 months (not annualized)

+19.15%

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

+3.13%

Annualized returns (≥1Y — CAGR)

Definitions

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

+7.67%

3-year annualized return (CAGR)

+16.41%

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

+21.28%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

16.49%

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

0.60

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

0.81

Largest peak-to-trough decline over full history

-21.44%

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

6.36%

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

1.05

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

88.1%

Excess return per unit of beta (market risk)

9.76

Active return over the benchmark per unit of tracking error

1.15

Annualized std dev of fund-minus-benchmark returns

6.13%

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

122.8%

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

96.8%

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	-3.63%	—	—
3M abs	+0.48%	—	—
6M abs	+19.15%	—	—
1Y CAGR	+7.67%	—	—
3Y CAGR	+16.41%	—	—
5Y CAGR	—	—	—

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

₹3.60L

Current value

₹4.11L

Absolute

+14.04%

XIRR

+9.20%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into ITI 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	+3.13%	-7.18%	+10.31%
2025	+4.71%	+7.94%	-3.23%
2024	+28.10%	+16.43%	+11.67%
2023part	+44.95%	—	—

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

886

Expense ratio

0.88%

AUM

₹1,304Cr

Portfolio turnover

145%

Exit load

If redeemed/Switched out on or before 3 Months from the date of allotment; Exit Load is 0.50% Exit Load after completion of 3 months - NIL

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

P/E ratio

25.4

P/B ratio

5.3

Avg market cap

₹3,28,236Cr

P/E & P/B are portfolio-weighted harmonic means across 64 of 79 equity holdings (80% 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


ITI Flexi Cap FundThis fund ITI · Direct · IDCW	—	+7.67%	+16.41%	—	—	0.88%	₹1,304Cr
Bank of India Flexi Cap Fund Bank of India · Direct · IDCW	—	+9.31%	+18.02%	+16.23%	—	0.88%	₹2,414Cr
360 ONE Flexicap Fund 360 One · Direct · IDCW	—	+8.03%	+16.22%	—	—	0.92%	₹2,018Cr
Bajaj Finserv Flexi Cap Fund Bajaj Finserv · Direct · IDCW	—	+3.87%	+15.55%	—	—	1.00%	₹7,090Cr
Quant Flexi Cap Fund quant · Direct · IDCW	—	+7.88%	+14.08%	+13.73%	—	1.07%	₹6,713Cr
WhiteOak Capital Flexi Cap Fund WhiteOak Capital · Direct · IDCW	—	+1.20%	+13.39%	—	—	0.82%	₹8,018Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap54.5%
Mid cap23.0%
Small cap22.5%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity93.40%
Cash & Equivalents6.28%
Other0.32%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
ITI Multi Cap Fund ITI · Multi Cap Fund	59.6%	★★★☆☆	0.85%	+16.05%
Groww ELSS Tax Saver Fund Groww · ELSS	48.6%!	★☆☆☆☆	1.52%	+7.74%
Canara Robeco Flexi Cap Fund Canara Robeco · Flexi Cap Fund	46.9%	★★★☆☆	0.69%	+10.26%
Edelweiss Balanced Advantage Fund Edelweiss · Dynamic Asset Allocation or Balanced Advantage	46.8% of 83% equity	★★★☆☆	0.81%	+9.82%
Canara Robeco Large Cap Fund Canara Robeco · Large Cap Fund	46.0%	★★★★☆	0.63%	+8.81%
PGIM India Large Cap Fund PGIM India · Large Cap Fund	45.8%	★☆☆☆☆	1.09%	+6.54%
Groww Aggressive Hybrid Fund Groww · Aggressive Hybrid Fund	45.5% of 72% equity	★★☆☆☆	2.10%	+7.94%
Canara Robeco ELSS - Tax Saver Fund Canara Robeco · ELSS	45.1%!	★★★☆☆	0.70%	+10.17%

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.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.92% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Filatex India LimitedLong-term · Stage I0.92%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

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.

-21.4%23 Sep 2024 → 28 Feb 2025
Fell over 5 months, back to the old high on 18 Jun 2026 — 16 months under water after the low.
-8.3%03 Jun 2024 → 04 Jun 2024
Fell over 1 day, back to the old high on 12 Jun 2024 — 8 days under water after the low.
-6.7%04 Mar 2024 → 13 Mar 2024
Fell over 9 days, back to the old high on 01 Apr 2024 — 19 days 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

₹1,304Cr

April - June 2026

+5%

since January - March 2026

+₹67.24Cr

est. net flow, last quarter

At or near its largest, ₹1,304Cr in April - June 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

ITI Mutual Fund is run by ITI Asset Management, part of the Investment Trust of India group. It launched its first schemes in 2019 and runs a mix of equity, hybrid and debt funds.

Launched

13 May 2018

Total AUM

₹11,302Cr+4.4% QoQ

Avg AUM · April - June 2026

Website

itiamc.com

Fund Managers

DSDhimant ShahManaging since 17 Feb 2023

Role

Co- Head Equity Manager

Education

B.Com & CA

Experience

Mr. Shah has joined ITI Asset Management Limited in August 2022 and has over 26 years of work experience in capital markets. Past Experience: July 2020- July 2022 with Oneup Finance as Head Research and Co-Fund Manager- Equities; June 2011- Oct 2019 with Principal AMC as Senior Fund Manager.

Funds managed (8)

All schemes Dhimant Shah runs →

NDNilay DalalManaging since 08 May 2026

Role

Equity Fund

Education

MBA (Finance)

Experience

Mr. Nilay Dalal joined ITI Asset Management Limited in April 2023 and has over 13 years of work experience in financial markets. Past Experience : December 2019 – April 2023 with Axis Asset Management Company as Equity Research Analyst. May 2011 – December 2019 with SBI Life Insurance as Equity Research Analyst

Funds managed (3)

All schemes Nilay Dalal runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Dhimant Shah Nilay Dalal

Top holdings

ICICI Bank Limited Reliance Industries Limited HDFC Bank Limited Bharti Airtel Limited Larsen & Toubro Limited State Bank of India Ather Energy Limited Aditya Infotech Limited Apar Industries Limited Divi's Laboratories Limited Axis Bank Limited VA Tech Wabag Limited

ITI 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.

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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 ITI Flexi Cap Fund?

As of 01 Oct 2026, the NAV of ITI Flexi Cap Fund is ₹19.90 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has ITI Flexi Cap Fund delivered?

ITI Flexi Cap Fund has returned +7.67% over 1 year, +16.41% per year over 3 years and +21.28% 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 ITI Flexi Cap Fund?

ITI Flexi Cap Fund charges an expense ratio of 0.88% 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 ITI Flexi Cap Fund?

ITI Flexi Cap Fund's largest holdings are ICICI Bank Limited (4.8%), Reliance Industries Limited (3.7%), HDFC Bank Limited (3.6%), Bharti Airtel Limited (2.3%) and Larsen & Toubro Limited (2.2%). Holdings are disclosed monthly and change over time.

How risky is ITI Flexi Cap Fund?

ITI Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.5% and its worst peak-to-trough fall in our sample was -21.4%. 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 0.60 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. ITI Flexi Cap Fund's 0.60 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of ITI Flexi Cap Fund?

ITI Flexi Cap Fund is benchmarked against the Nifty 500 Total Return Index. Its alpha and beta on this page are measured against that index.

Who manages ITI Flexi Cap Fund?

ITI Flexi Cap Fund is managed by Dhimant Shah and Nilay Dalal at ITI.

How is ITI Flexi Cap Fund taxed?

ITI 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.