DSP Flexi Cap Fund vs ITI Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Flexi Cap Fund and ITI Flexi Cap Fund are both Flexi Cap funds. In the 3 years to 30-10-2026, DSP Flexi Cap Fund (Direct) returned 10.6% a year and ITI Flexi Cap Fund (Direct) returned 18.3% a year. DSP Flexi Cap Fund charges 0.87% a year and ITI Flexi Cap Fund 0.88% (Direct plans). Their portfolios overlap 23.3%: they hold 17 of the same securities.
Which is better, DSP Flexi Cap or ITI Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ITI Flexi Cap returned more over 3 years: 18.3% a year against 10.6%.
- ITI Flexi Cap returned more over 1 year: 6.4% against −6.3%.
- DSP Flexi Cap costs less: 0.87% a year against 0.88% (Direct plans).
- DSP Flexi Cap swung less over 3 years: a standard deviation of 14.0% a year against 16.3%.
- DSP Flexi Cap fell less in its worst fall since 22-02-2023: −17.6% against −21.4%.
- DSP Flexi Cap holds more in large companies: 60.6% of the fund in large caps against 44.7%.
- DSP Flexi Cap is the larger fund: ₹11,720 Cr against ₹1,588 Cr.
- Their portfolios overlap 23.3%: 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 | DSP Flexi Cap Fund | ITI Flexi Cap Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | ITI Mutual Fund |
| Category | Flexi Cap | Flexi Cap |
| AUM | ₹11,720 Cr (30-09-2026) | ₹1,588 Cr (30-09-2026) |
| NAV | ₹109.49 (Direct) | ₹20.35 (Direct) |
| Expense ratio (Direct) | 0.87% | 0.88% |
| Expense ratio (Regular) | 1.87% | 2.32% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 29-04-1997 | 17-02-2023 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Bhavin Gandhi | Dhimant Shah, Nilay Dalal |
| Exit load | Exit load of 1% if redeemed less than 12 months | Exit load of 0.50%, if redeemed within 3 months. |
DSP Flexi Cap vs ITI Flexi Cap: 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% |
| ITI Flexi Cap Fund (Direct) | −1.70% | −0.27% | +7.12% | +6.40% | +18.32% | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
DSP Flexi Cap vs ITI Flexi Cap: Year-wise Returns
| Year | DSPDSP Flexi Cap | ITIITI Flexi Cap | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −6.53% | +5.44% | −7.51% |
| 2025 | +5.67% | +4.71% | +7.76% |
| 2024 | +19.39% | +28.10% | +16.24% |
| 2023 | +33.56% | -- | +26.91% |
| 2022 | −3.46% | -- | +4.25% |
| 2021 | +33.87% | -- | +31.60% |
DSP Flexi Cap vs ITI Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 168 of them, one for each trading day from 23-02-2026 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.
DSP Flexi Cap Fund (Direct)
ITI Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Mar 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Flexi Cap | 0.0 | 0.0 | 10.1 | 57.7 | 32.1 | 0.0 | 0.0 | 14.0% | 14.1% | 9.0% | 19.0% | 98% |
| ITI Flexi Cap | 0.0 | 0.0 | 0.0 | 0.0 | 35.1 | 64.9 | 0.0 | 20.3% | 20.3% | 16.7% | 24.4% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 11.3 | 64.9 | 23.8 | 0.0 | 0.0 | 13.3% | 13.2% | 8.8% | 18.1% | -- |
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 22-02-2023. Past returns do not promise future returns.
DSP Flexi Cap vs ITI Flexi Cap: 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 01-02-2023 to 30-10-2026: 45 instalments, ₹4,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Flexi CapDSP Flexi Cap Fund (Direct) | ₹4,50,000 | ₹5,00,887 | ₹50,887 | 5.7% |
| ITI Flexi CapITI Flexi Cap Fund (Direct) | ₹4,50,000 | ₹5,81,922 | ₹1,31,922 | 13.8% |
DSP Flexi CapDSP Flexi Cap Fund (Direct)
ITI Flexi CapITI Flexi Cap 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 ITI Flexi Cap: 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) | ITI Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.29% | +6.40% |
| Standard deviation | 14.25% | 15.44% |
| Sharpe ratio | -0.81 | 0.07 |
| Sortino ratio | -1.11 | 0.10 |
| Maximum drawdown | −14.4% (31-03-2026) | −13.0% (31-03-2026) |
| Beta | 0.97 | 1.03 |
| Alpha | +0.61% | +14.15% |
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) | ITI Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.58% | +18.32% |
| Standard deviation | 14.05% | 16.26% |
| Sharpe ratio | 0.32 | 0.76 |
| Sortino ratio | 0.44 | 1.02 |
| Maximum drawdown | −17.6% (28-02-2025) | −21.4% (28-02-2025) |
| Beta | 0.95 | 1.09 |
| Alpha | +0.56% | +7.73% |
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) | ITI Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.87% | +21.51% |
| Standard deviation | 16.15% | 15.22% |
| Sharpe ratio | 0.48 | 1.01 |
| Sortino ratio | 0.65 | 1.36 |
| Maximum drawdown | −35.7% (23-03-2020) | −21.4% (28-02-2025) |
| Beta | 0.98 | 1.07 |
| Alpha | +1.22% | +8.54% |
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)
ITI Flexi Cap 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) | −17.6% | 27-09-2024 | 28-02-2025 | Not yet | -- | −8.4% |
| ITI Flexi Cap Fund (Direct) | −21.4% | 23-09-2024 | 28-02-2025 | 12-06-2026 | 15 months | −5.0% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 22-02-2023, 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)
ITI Flexi Cap 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)
ITI Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Flexi Cap Fund (Direct) | 100% | 96% | 3.67% |
| ITI Flexi Cap Fund (Direct) | 126% | 92% | 5.71% |
From month-end values since 22-02-2023. 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 ITI Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Flexi Cap Fund, September 2026; ITI Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 23.3%
- Held by both
- 17
- Only in DSP Flexi Cap
- 49
- Only in ITI Flexi Cap
- 65
| Security | % of DSP Flexi Cap | % of ITI Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 9.28% | 4.61% |
| HDFC Bank Limited | 8.56% | 3.56% |
| Bharti Airtel Limited | 2.84% | 2.27% |
| State Bank of India | 3.43% | 2.06% |
| Axis Bank Limited | 4.90% | 1.73% |
| Multi Commodity Exchange Of India Limited | 1.35% | 1.49% |
| Eternal Limited | 1.97% | 1.19% |
| Bajaj Finance Limited | 2.21% | 0.94% |
| Polycab India Limited | 0.92% | 0.91% |
| Cholamandalam Investment and Finance Co Limited | 2.33% | 0.85% |
| Infosys Limited | 1.49% | 0.82% |
| Maruti Suzuki India Limited | 1.12% | 0.81% |
| Max Financial Services Limited | 2.04% | 0.75% |
| Mahindra & Mahindra Limited | 4.10% | 0.67% |
| Dixon Technologies (India) Limited | 0.60% | 0.97% |
| Bharat Forge Limited | 0.12% | 0.65% |
| LG Electronics India Limited | 0.02% | 1.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.3% means 23.3% 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 DSP Flexi Cap Fund
| Security | % of fund |
|---|---|
| Cipla Limited | 2.30% |
| SBI Life Insurance Co Limited | 2.23% |
| Bharat Petroleum Corporation Limited | 2.18% |
| Coforge Limited | 2.01% |
| Samvardhana Motherson International Limited | 2.00% |
Largest holdings only in ITI Flexi Cap Fund
| Security | % of fund |
|---|---|
| Reliance Industries Limited | 3.48% |
| Aditya Infotech Limited | 2.62% |
| Larsen & Toubro Limited | 2.07% |
| Ather Energy Limited | 1.82% |
| Apar Industries Limited | 1.74% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Flexi Cap | ITI Flexi Cap |
|---|---|---|
| Equity | 96.7% | 94.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.3% | 6.0% |
Market cap of stocks
| Market cap | DSP Flexi Cap | ITI Flexi Cap |
|---|---|---|
| Large Cap | 60.6% | 44.7% |
| Mid Cap | 24.3% | 15.5% |
| Small Cap | 11.8% | 29.2% |
| Not on AMFI's list | 0.0% | 4.7% |
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 | ITI Flexi Cap |
|---|---|---|
| Banks | 26.4% | 15.9% |
| Pharmaceuticals & Biotechnology | 5.1% | 7.5% |
| Automobiles | 6.9% | 4.4% |
| IT - Software | 6.1% | 1.8% |
| Insurance | 5.9% | 0.8% |
| Industrial Products | 4.3% | 5.8% |
| Auto Components | 5.1% | 5.6% |
| Capital Markets | 5.1% | 2.1% |
| Chemicals & Petrochemicals | 0.5% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Flexi Cap vs ITI Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Flexi Cap Fund | ITI Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.87% | 0.88% |
| Base expense ratio (Direct) | 0.62% | 0.53% |
| Total expense ratio (Regular) | 1.87% | 2.32% |
| Base expense ratio (Regular) | 1.48% | 1.81% |
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 ITI Flexi Cap Fund: Frequently Asked Questions
What is the difference between DSP Flexi Cap Fund and ITI Flexi Cap Fund?
Both are Flexi Cap funds, run by DSP Mutual Fund and ITI Mutual Fund. Their portfolios overlap 23.3%. DSP Flexi Cap Fund charges 0.87% a year and ITI Flexi Cap Fund 0.88%.
Which has given higher returns, DSP Flexi Cap Fund or ITI Flexi Cap Fund?
Over 1 year: DSP Flexi Cap Fund −6.29%, ITI Flexi Cap Fund +6.40%. Over 3 years: DSP Flexi Cap Fund +10.58% a year, ITI Flexi Cap Fund +18.32% 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 ITI Flexi Cap Fund?
DSP Flexi Cap Fund charges less: 0.87% a year against 0.88%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Flexi Cap Fund and ITI Flexi Cap Fund overlap?
23.3%. They hold 17 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, DSP Flexi Cap Fund or ITI Flexi Cap Fund?
On SEBI's riskometer, DSP Flexi Cap Fund is rated Very High and ITI Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.05% and 16.26% a year.
Which is better for SIP, DSP Flexi Cap Fund or ITI Flexi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,81,802 in DSP Flexi Cap Fund (XIRR 2.0% a year) and ₹4,32,787 in ITI Flexi Cap Fund (XIRR 10.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both DSP Flexi Cap Fund and ITI Flexi Cap Fund?
Yes. 23.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Flexi Cap Fund and ITI Flexi Cap Fund?
DSP Flexi Cap Fund: Bhavin Gandhi. ITI Flexi Cap Fund: Dhimant Shah, Nilay Dalal.
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.