DSP Flexi Cap Fund vs DSP Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Flexi Cap Fund is a Flexi Cap fund and DSP Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, DSP Flexi Cap Fund (Direct) returned 10.6% a year and DSP Value Fund (Direct) returned 16.3% a year. DSP Flexi Cap Fund charges 0.87% a year and DSP Value Fund 1.53% (Direct plans). Their portfolios overlap 47.5%: they hold 25 of the same securities.
Which is better, DSP Flexi Cap or DSP Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Value returned more over 5 years: 12.3% a year against 8.6%.
- DSP Value returned more over 3 years: 16.3% a year against 10.6%.
- DSP Flexi Cap costs less: 0.87% a year against 1.53% (Direct plans).
- DSP Value swung less over 3 years: a standard deviation of 10.4% a year against 14.0%.
- DSP Value fell less in its worst fall since 11-12-2020: −16.4% against −22.9%.
- DSP Value holds 12.8% of the fund in foreign stocks; DSP Flexi Cap 0.0%.
- DSP Flexi Cap is the larger fund: ₹11,720 Cr against ₹2,225 Cr.
- Their portfolios overlap 47.5%: 25 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 | DSP Flexi Cap Fund | DSP Value Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | Flexi Cap | Value and Contra |
| AUM | ₹11,720 Cr (30-09-2026) | ₹2,225 Cr (30-09-2026) |
| NAV | ₹109.49 (Direct) | ₹23.73 (Direct) |
| Expense ratio (Direct) | 0.87% | 1.53% |
| Expense ratio (Regular) | 1.87% | 2.40% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 29-04-1997 | 10-12-2020 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Bhavin Gandhi | Abhishek Singh, Kaivalya Nadkarni |
| Exit load | Exit load of 1% if redeemed less than 12 months | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. |
DSP Flexi Cap vs DSP Value: 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 |
|---|---|---|---|---|---|---|---|
| DSP Flexi Cap Fund (Direct) | −1.20% | −6.32% | −1.01% | −6.29% | +10.58% | +8.62% | +13.06% |
| DSP Value Fund (Direct) | −0.43% | −4.38% | −1.65% | +0.33% | +16.31% | +12.31% | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
Category average: the average of the 46 Flexi Cap funds and the 30 Value and Contra funds, same plan type.
DSP Flexi Cap vs DSP Value: Year-wise Returns
| Year | Flexi CapDSP Flexi Cap | ValueDSP Value | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −6.53% | −0.94% | −7.51% |
| 2025 | +5.67% | +12.40% | +7.76% |
| 2024 | +19.39% | +21.81% | +16.24% |
| 2023 | +33.56% | +30.91% | +26.91% |
| 2022 | −3.46% | −1.80% | +4.25% |
| 2021 | +33.87% | +31.97% | +31.60% |
DSP Flexi Cap vs DSP Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 711 of them, one for each trading day from 11-12-2023 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.
DSP Flexi Cap Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
to
Mar 2024Aug 2021
to
Aug 2024Feb 2022
to
Feb 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Flexi Cap | 0.0 | 0.0 | 2.4 | 21.1 | 66.1 | 10.4 | 0.0 | 17.0% | 17.3% | 9.0% | 24.8% | 71% |
| DSP Value | 0.0 | 0.0 | 0.0 | 1.3 | 70.0 | 28.8 | 0.0 | 18.7% | 18.6% | 13.2% | 23.8% | 78% |
| Nifty 500 TRI | 0.0 | 0.0 | 2.7 | 26.6 | 59.1 | 11.7 | 0.0 | 16.4% | 16.5% | 8.8% | 22.3% | -- |
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 11-12-2020. Past returns do not promise future returns.
DSP Flexi Cap vs DSP Value: 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 01-12-2020 to 30-10-2026: 71 instalments, ₹7,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Flexi CapDSP Flexi Cap Fund (Direct) | ₹7,10,000 | ₹9,39,471 | ₹2,29,471 | 9.4% |
| DSP ValueDSP Value Fund (Direct) | ₹7,10,000 | ₹10,50,424 | ₹3,40,424 | 13.2% |
DSP Flexi CapDSP Flexi Cap Fund (Direct)
DSP ValueDSP Value 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.
DSP Flexi Cap vs DSP Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Flexi Cap Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.29% | +0.33% |
| Standard deviation | 14.25% | 10.12% |
| Sharpe ratio | -0.81 | -0.48 |
| Sortino ratio | -1.11 | -0.66 |
| Maximum drawdown | −14.4% (31-03-2026) | −8.3% (23-03-2026) |
| Beta | 0.97 | 0.66 |
| Alpha | +0.61% | +3.56% |
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 | DSP Flexi Cap Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.58% | +16.31% |
| Standard deviation | 14.05% | 10.42% |
| Sharpe ratio | 0.32 | 0.99 |
| Sortino ratio | 0.44 | 1.36 |
| Maximum drawdown | −17.6% (28-02-2025) | −13.7% (07-04-2025) |
| Beta | 0.95 | 0.68 |
| Alpha | +0.56% | +7.28% |
From daily NAVs, 30-10-2023 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 | DSP Flexi Cap Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.62% | +12.31% |
| Standard deviation | 14.11% | 10.48% |
| Sharpe ratio | 0.20 | 0.62 |
| Sortino ratio | 0.27 | 0.85 |
| Maximum drawdown | −21.8% (17-06-2022) | −16.4% (20-06-2022) |
| Beta | 0.95 | 0.66 |
| Alpha | −0.03% | +4.49% |
From daily NAVs, 29-10-2021 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 | DSP Flexi Cap Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.87% | +15.82% |
| Standard deviation | 16.15% | 10.33% |
| Sharpe ratio | 0.48 | 1.01 |
| Sortino ratio | 0.65 | 1.40 |
| Maximum drawdown | −35.7% (23-03-2020) | −16.4% (20-06-2022) |
| Beta | 0.98 | 0.63 |
| Alpha | +1.22% | +5.42% |
From daily NAVs, 02-01-2013 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.
DSP Flexi Cap Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Flexi Cap Fund (Direct) | −22.9% | 18-10-2021 | 17-06-2022 | 13-06-2023 | 12 months | −8.4% |
| DSP Value Fund (Direct) | −16.4% | 17-01-2022 | 20-06-2022 | 02-12-2022 | 5 months | −6.0% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 11-12-2020, 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.
DSP Flexi Cap Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
DSP Flexi Cap Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
DSP Flexi Cap Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Flexi Cap Fund (Direct) | 98% | 94% | 4.46% |
| DSP Value Fund (Direct) | 84% | 56% | 7.41% |
From month-end values since 11-12-2020. 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.
DSP Flexi Cap vs DSP Value: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Flexi Cap Fund, September 2026; DSP Value Fund, September 2026
Holdings in common
- Overlap
- 47.5%
- Held by both
- 25
- Only in DSP Flexi Cap
- 41
- Only in DSP Value
- 22
| Security | % of DSP Flexi Cap | % of DSP Value |
|---|---|---|
| HDFC Bank Limited | 8.56% | 9.45% |
| ICICI Bank Limited | 9.28% | 8.22% |
| Mahindra & Mahindra Limited | 4.10% | 3.29% |
| Axis Bank Limited | 4.90% | 2.48% |
| Bharti Airtel Limited | 2.84% | 2.47% |
| Cipla Limited | 2.30% | 2.29% |
| SBI Life Insurance Co Limited | 2.23% | 2.13% |
| State Bank of India | 3.43% | 2.02% |
| Hero MotoCorp Limited | 1.65% | 2.30% |
| Alkem Laboratories Limited | 1.58% | 2.43% |
| Infosys Limited | 1.49% | 1.61% |
| Oberoi Realty Limited | 1.57% | 1.43% |
| Indus Towers Limited | 1.35% | 1.90% |
| Maruti Suzuki India Limited | 1.12% | 2.59% |
| Emami Limited | 1.06% | 1.25% |
| Max Financial Services Limited | 2.04% | 1.00% |
| HDFC Asset Management Co Limited | 0.92% | 2.57% |
| Coromandel International Limited | 1.47% | 0.90% |
| Bharat Petroleum Corporation Limited | 2.18% | 0.84% |
| ICICI Lombard General Insurance Co Limited | 0.68% | 1.02% |
| Oil India Limited | 0.83% | 0.64% |
| Bajaj Finance Limited | 2.21% | 0.55% |
| Hindustan Petroleum Corporation Limited | 0.35% | 0.59% |
| IPCA Laboratories Limited | 0.45% | 0.25% |
| Syngene International Limited | 0.68% | 0.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.5% means 47.5% 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 DSP Flexi Cap Fund
| Security | % of fund |
|---|---|
| Cholamandalam Investment and Finance Co Limited | 2.33% |
| Coforge Limited | 2.01% |
| Samvardhana Motherson International Limited | 2.00% |
| Eternal Limited | 1.97% |
| Kirloskar Oil Engines Limited | 1.90% |
Largest holdings only in DSP Value Fund
| Security | % of fund |
|---|---|
| NTPC Limited | 2.65% |
| ITC Limited | 2.56% |
| Kotak Mahindra Bank Limited | 2.15% |
| HDFC Life Insurance Co Limited | 1.99% |
| Power Grid Corporation of India Limited | 1.55% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Flexi Cap | DSP Value |
|---|---|---|
| Equity | 96.7% | 89.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.3% | 10.7% |
Market cap of stocks
| Market cap | DSP Flexi Cap | DSP Value |
|---|---|---|
| Large Cap | 60.6% | 62.0% |
| Mid Cap | 24.3% | 10.7% |
| Small Cap | 11.8% | 3.8% |
| Foreign stocks | 0.0% | 12.8% |
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 | DSP Flexi Cap | DSP Value |
|---|---|---|
| Banks | 26.4% | 24.3% |
| Automobiles | 6.9% | 8.8% |
| Insurance | 5.9% | 6.9% |
| Pharmaceuticals & Biotechnology | 5.1% | 6.7% |
| IT - Software | 6.1% | 3.3% |
| Capital Markets | 5.1% | 3.2% |
| Telecom - Services | 4.2% | 4.4% |
| Power | 0.0% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Flexi Cap vs DSP Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Flexi Cap Fund | DSP Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.87% | 1.53% |
| Base expense ratio (Direct) | 0.62% | 0.98% |
| Total expense ratio (Regular) | 1.87% | 2.40% |
| Base expense ratio (Regular) | 1.48% | 1.72% |
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 DSP Flexi Cap with
DSP Flexi Cap Fund vs DSP Value Fund: Frequently Asked Questions
What is the difference between DSP Flexi Cap Fund and DSP Value Fund?
DSP Flexi Cap Fund is a Flexi Cap fund, DSP Value Fund is a Value and Contra fund, run by DSP Mutual Fund. Their portfolios overlap 47.5%. DSP Flexi Cap Fund charges 0.87% a year and DSP Value Fund 1.53%.
Which has given higher returns, DSP Flexi Cap Fund or DSP Value Fund?
Over 1 year: DSP Flexi Cap Fund −6.29%, DSP Value Fund +0.33%. Over 3 years: DSP Flexi Cap Fund +10.58% a year, DSP Value Fund +16.31% a year. Over 5 years: DSP Flexi Cap Fund +8.62% a year, DSP Value Fund +12.31% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Flexi Cap Fund or DSP Value Fund?
DSP Flexi Cap Fund charges less: 0.87% a year against 1.53%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Flexi Cap Fund and DSP Value Fund overlap?
47.5%. They hold 25 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, M&M. From each fund's latest monthly portfolio.
Which is riskier, DSP Flexi Cap Fund or DSP Value Fund?
On SEBI's riskometer, DSP Flexi Cap Fund is rated Very High and DSP Value Fund Very High. Over 3 years, the standard deviation of daily returns was 14.05% and 10.42% a year.
Which is better for SIP, DSP Flexi Cap Fund or DSP Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,56,093 in DSP Flexi Cap Fund (XIRR 8.4% a year) and ₹8,42,999 in DSP Value Fund (XIRR 12.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Flexi Cap Fund and DSP Value Fund?
Yes. 47.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP Flexi Cap Fund and DSP Value Fund?
DSP Flexi Cap Fund: Bhavin Gandhi. DSP Value Fund: Abhishek Singh, Kaivalya Nadkarni.
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.