Axis Flexi Cap Fund vs Axis Services Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Flexi Cap Fund is a Flexi Cap fund and Axis Services Opportunities Fund is a Thematic fund. In the year to 30-10-2026, Axis Flexi Cap Fund (Direct) returned −0.9% and Axis Services Opportunities Fund (Direct) returned −7.9%. Axis Flexi Cap Fund charges 0.85% a year and Axis Services Opportunities Fund 0.96% (Direct plans). Their portfolios overlap 37.3%: they hold 17 of the same securities.
Axis Services Opportunities Fund
Thematic
- 1 year return
- −7.9%
- Expense ratio
- 0.96%
- NAV
- ₹9.46
Which is better, Axis Flexi Cap or Axis Services Opportunities? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Flexi Cap returned more over 1 year: −0.9% against −7.9%.
- Axis Flexi Cap costs less: 0.85% a year against 0.96% (Direct plans).
- Axis Flexi Cap fell less in its worst fall since 30-07-2025: −14.5% against −18.4%.
- Axis Flexi Cap is the larger fund: ₹13,242 Cr against ₹1,308 Cr.
- Their portfolios overlap 37.3%: 17 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis Flexi Cap Fund | Axis Services Opportunities Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Axis Mutual Fund |
| Category | Flexi Cap | Thematic |
| AUM | ₹13,242 Cr (30-09-2026) | ₹1,308 Cr (30-09-2026) |
| NAV | ₹30.08 (Direct) | ₹9.46 (Direct) |
| Expense ratio (Direct) | 0.85% | 0.96% |
| Expense ratio (Regular) | 1.84% | 2.22% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty Services Sector TRI |
| Launch date | 20-11-2017 | 24-07-2025 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Sachin Relekar, Krishnaa N | Sachin Relekar, Krishnaa Narayan |
| Exit load | Nil | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months. |
Axis Flexi Cap vs Axis Services Opportunities: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis Flexi Cap Fund (Direct) | −1.41% | −2.21% | +4.88% | −0.95% | +13.45% | +7.75% | -- |
| Axis Services Opportunities Fund (Direct) | +1.18% | −5.87% | +2.27% | −7.89% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds and the 235 Thematic funds, same plan type.
Axis Flexi Cap vs Axis Services Opportunities: Year-wise Returns
| Year | Flexi CapAxis Flexi Cap | Services OpportunitiesAxis Services Opportunities |
|---|---|---|
| 2026to date | +2.14% | −5.02% |
| 2025 | +2.40% | -- |
| 2024 | +23.54% | -- |
| 2023 | +21.44% | -- |
| 2022 | −7.61% | -- |
| 2021 | +29.93% | -- |
Axis Flexi Cap vs Axis Services Opportunities: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Axis Flexi Cap Fund
Rolling returns
Every 1-year holding period, 62 of them, one for each trading day from 30-07-2026 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis Flexi Cap Fund (Direct)
Axis Services Opportunities Fund (Direct)
Nifty 500 TRI
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Flexi Cap | 11.3 | 37.1 | 45.2 | 6.5 | 0.0 | 0.0 | 0.0 | 5.0% | 5.3% | −3.5% | 11.5% | 100% |
| Axis Services Opportunities | 62.9 | 37.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −2.3% | −1.1% | −10.8% | 4.1% | 2% |
| Nifty 500 TRI | 50.0 | 33.9 | 16.1 | 0.0 | 0.0 | 0.0 | 0.0 | −0.0% | 0.1% | −9.0% | 6.8% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 30-07-2025. Past returns do not promise future returns.
Axis Flexi Cap vs Axis Services Opportunities: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Flexi CapAxis Flexi Cap Fund (Direct) | ₹1,60,000 | ₹1,62,883 | ₹2,883 | 2.6% |
| Axis Services OpportunitiesAxis Services Opportunities Fund (Direct) | ₹1,60,000 | ₹1,56,159 | −₹3,841 | −3.4% |
Axis Flexi CapAxis Flexi Cap Fund (Direct)
Axis Services OpportunitiesAxis Services Opportunities Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis Flexi Cap vs Axis Services Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Flexi Cap Fund (Direct) | Axis Services Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.95% | −7.89% |
| Standard deviation | 14.79% | 15.22% |
| Sharpe ratio | -0.42 | -0.86 |
| Sortino ratio | -0.56 | -1.16 |
| Maximum drawdown | −14.2% (30-03-2026) | −18.0% (30-03-2026) |
| Beta | 0.98 | 0.93 |
| Alpha | +6.15% | −1.87% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Flexi Cap Fund (Direct) | Axis Services Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.11% | −4.03% |
| Standard deviation | 15.23% | 14.26% |
| Sharpe ratio | 0.51 | -0.65 |
| Sortino ratio | 0.70 | -0.89 |
| Maximum drawdown | −29.9% (23-03-2020) | −18.4% (30-03-2026) |
| Beta | 0.88 | 0.93 |
| Alpha | +2.53% | −0.97% |
From daily NAVs, 24-11-2017 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis Flexi Cap Fund (Direct)
Axis Services Opportunities Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Flexi Cap Fund (Direct) | −14.5% | 29-10-2025 | 30-03-2026 | 30-06-2026 | 3 months | −6.6% |
| Axis Services Opportunities Fund (Direct) | −18.4% | 27-10-2025 | 30-03-2026 | Not yet | -- | −8.3% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 30-07-2025, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Flexi Cap Fund (Direct)
Axis Services Opportunities Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Flexi Cap Fund (Direct) | 127% | 102% | 5.70% |
| Axis Services Opportunities Fund (Direct) | 102% | 108% | 5.51% |
From month-end values since 30-07-2025. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis Flexi Cap vs Axis Services Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Flexi Cap Fund, September 2026; Axis Services Opportunities Fund, September 2026
Holdings in common
- Overlap
- 37.3%
- Held by both
- 17
- Only in Axis Flexi Cap
- 50
- Only in Axis Services Opportunities
- 20
| Security | % of Axis Flexi Cap | % of Axis Services Opportunities |
|---|---|---|
| ICICI Bank Limited | 7.52% | 9.01% |
| Eternal Limited | 4.56% | 9.28% |
| Bajaj Finance Limited | 4.08% | 5.09% |
| Krishna Institute Of Medical Sciences Limited | 3.05% | 3.32% |
| InterGlobe Aviation Limited | 2.39% | 4.22% |
| HDFC Bank Limited | 2.23% | 4.46% |
| Bharti Airtel Limited | 2.14% | 4.70% |
| Cholamandalam Investment and Finance Company Ltd | 1.98% | 3.94% |
| One 97 Communications Limited | 1.82% | 2.06% |
| The Indian Hotels Company Limited | 1.57% | 4.43% |
| Infosys Limited | 1.54% | 1.97% |
| PB Fintech Limited | 1.34% | 3.26% |
| FSN E-Commerce Ventures Limited | 0.98% | 2.22% |
| L&T Finance Limited | 0.89% | 1.97% |
| The Federal Bank Limited | 0.75% | 3.07% |
| Healthcare Global Enterprises Limited | 0.80% | 0.43% |
| Wakefit Innovations Limited | 0.05% | 0.36% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.3% means 37.3% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis Flexi Cap Fund
| Security | % of fund |
|---|---|
| Apar Industries Limited | 4.19% |
| Bharat Electronics Limited | 3.46% |
| Axis Bank Limited | 3.07% |
| State Bank of India | 3.04% |
| 91 Days Tbill (MD 31/12/2026) | 2.91% |
Largest holdings only in Axis Services Opportunities Fund
| Security | % of fund |
|---|---|
| Apollo Hospitals Enterprise Limited | 5.03% |
| Fortis Healthcare Limited | 4.41% |
| HDFC Asset Management Company Limited | 3.03% |
| BSE Limited | 2.75% |
| Go Digit General Insurance Limited | 2.49% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Flexi Cap | Axis Services Opportunities |
|---|---|---|
| Equity | 90.2% | 99.6% |
| Debt | 2.9% | 0.0% |
| Cash and others | 6.9% | 0.4% |
Market cap of stocks
| Market cap | Axis Flexi Cap | Axis Services Opportunities |
|---|---|---|
| Large Cap | 52.0% | 55.0% |
| Mid Cap | 18.6% | 26.6% |
| Small Cap | 18.4% | 16.7% |
| Not on AMFI's list | 1.3% | 1.3% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Axis Flexi Cap | Axis Services Opportunities |
|---|---|---|
| Healthcare Services | 3.9% | 17.5% |
| Banks | 17.5% | 16.5% |
| Retailing | 6.5% | 16.5% |
| Finance | 7.0% | 11.0% |
| Electrical Equipment | 8.6% | 0.0% |
| Leisure Services | 1.8% | 8.4% |
| Capital Markets | 0.5% | 7.0% |
| Auto Components | 5.8% | 0.0% |
| Chemicals & Petrochemicals | 4.9% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Flexi Cap vs Axis Services Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Flexi Cap Fund | Axis Services Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.85% | 0.96% |
| Base expense ratio (Direct) | 0.63% | 0.77% |
| Total expense ratio (Regular) | 1.84% | 2.22% |
| Base expense ratio (Regular) | 1.47% | 1.85% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Axis Flexi Cap with
Compare Axis Services Opportunities with
Axis Flexi Cap Fund vs Axis Services Opportunities Fund: Frequently Asked Questions
What is the difference between Axis Flexi Cap Fund and Axis Services Opportunities Fund?
Axis Flexi Cap Fund is a Flexi Cap fund, Axis Services Opportunities Fund is a Thematic fund, run by Axis Mutual Fund. Their portfolios overlap 37.3%. Axis Flexi Cap Fund charges 0.85% a year and Axis Services Opportunities Fund 0.96%.
Which has given higher returns, Axis Flexi Cap Fund or Axis Services Opportunities Fund?
Over 1 year: Axis Flexi Cap Fund −0.95%, Axis Services Opportunities Fund −7.89%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Flexi Cap Fund or Axis Services Opportunities Fund?
Axis Flexi Cap Fund charges less: 0.85% a year against 0.96%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Flexi Cap Fund and Axis Services Opportunities Fund overlap?
37.3%. They hold 17 of the same securities, the largest shared ones being ICICIBANK, ETERNAL, BAJFINANCE. From each fund's latest monthly portfolio.
Which is riskier, Axis Flexi Cap Fund or Axis Services Opportunities Fund?
On SEBI's riskometer, Axis Flexi Cap Fund is rated Very High and Axis Services Opportunities Fund Very High. Over 1 years, the standard deviation of daily returns was 14.79% and 15.22% a year.
Can I invest in both Axis Flexi Cap Fund and Axis Services Opportunities Fund?
Yes. 37.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Flexi Cap Fund and Axis Services Opportunities Fund?
Axis Flexi Cap Fund: Sachin Relekar, Krishnaa N. Axis Services Opportunities Fund: Sachin Relekar, Krishnaa Narayan.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.