Invesco India Contra Fund vs Nippon India Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Contra Fund is a Value and Contra fund and Nippon India Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Invesco India Contra Fund (Direct) returned 14.2% a year and Nippon India Flexi Cap Fund (Direct) returned 9.1% a year. Invesco India Contra Fund charges 0.76% a year and Nippon India Flexi Cap Fund 0.66% (Direct plans). Their portfolios overlap 39.5%: they hold 30 of the same securities.
Invesco India Contra Fund
Value and Contra
- 3 year return
- 14.2%
- Expense ratio
- 0.76%
- NAV
- ₹152.34
Nippon India Flexi Cap Fund
Flexi Cap
- 3 year return
- 9.1%
- Expense ratio
- 0.66%
- NAV
- ₹16.77
Which is better, Invesco India Contra or Nippon India 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.
- Invesco India Contra returned more over 5 years: 11.8% a year against 9.4%.
- Invesco India Contra returned more over 3 years: 14.2% a year against 9.1%.
- Nippon India Flexi Cap costs less: 0.66% a year against 0.76% (Direct plans).
- Nippon India Flexi Cap swung less over 3 years: a standard deviation of 14.5% a year against 14.9%.
- Invesco India Contra fell less in its worst fall since 18-08-2021: −18.6% against −19.8%.
- Nippon India Flexi Cap holds more in large companies: 62.9% of the fund in large caps against 52.2%.
- Invesco India Contra is the larger fund: ₹19,248 Cr against ₹9,214 Cr.
- Their portfolios overlap 39.5%: 30 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 | Invesco India Contra Fund | Nippon India Flexi Cap Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Nippon India Mutual Fund |
| Category | Value and Contra | Flexi Cap |
| AUM | ₹19,248 Cr (30-09-2026) | ₹9,214 Cr (30-09-2026) |
| NAV | ₹152.34 (Direct) | ₹16.77 (Direct) |
| Expense ratio (Direct) | 0.76% | 0.66% |
| Expense ratio (Regular) | 1.85% | 1.85% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty 500 TRI |
| Launch date | 11-04-2007 | 13-08-2021 |
| Minimum investment | Not available | ₹500 |
| Lock in | None | None |
| Fund managers | Taher Badshah, Deepak Gupta | Meenakshi Dawar, Dhrumil Shah |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days |
Invesco India Contra vs Nippon India 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Contra Fund (Direct) | −0.30% | −4.19% | +0.91% | −6.49% | +14.19% | +11.77% | +15.21% |
| Nippon India Flexi Cap Fund (Direct) | −2.31% | −6.36% | −2.62% | −7.62% | +9.10% | +9.40% | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
Category average: the average of the 30 Value and Contra funds and the 46 Flexi Cap funds, same plan type.
Invesco India Contra vs Nippon India Flexi Cap: Year-wise Returns
| Year | Invesco India ContraInvesco India Contra | Nippon India Flexi CapNippon India Flexi Cap |
|---|---|---|
| 2026to date | −6.43% | −6.70% |
| 2025 | +4.26% | +3.90% |
| 2024 | +31.65% | +16.94% |
| 2023 | +30.29% | +34.89% |
| 2022 | +5.09% | +0.74% |
| 2021 | +31.26% | -- |
Invesco India Contra vs Nippon India Flexi Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Invesco India Contra Fund
Rolling returns
Every 3-year holding period, 543 of them, one for each trading day from 19-08-2024 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.
Invesco India Contra Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
BSE 500 TRI
to
Oct 2024Mar 2022
to
Mar 2025Jul 2022
to
Jul 2025Dec 2022
to
Dec 2025Apr 2023
to
Apr 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Contra | 0.0 | 0.0 | 0.0 | 6.3 | 36.1 | 51.0 | 6.6 | 20.3% | 20.6% | 12.4% | 27.8% | 100% |
| Nippon India Flexi Cap | 0.0 | 0.0 | 4.6 | 28.9 | 55.1 | 11.4 | 0.0 | 16.2% | 16.7% | 8.4% | 22.7% | 95% |
| BSE 500 TRI | 0.0 | 0.0 | 4.4 | 37.6 | 52.5 | 5.5 | 0.0 | 15.3% | 15.3% | 8.4% | 22.0% | -- |
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 BSE 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 18-08-2021. Past returns do not promise future returns.
Invesco India Contra vs Nippon India 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 02-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India ContraInvesco India Contra Fund (Direct) | ₹6,30,000 | ₹8,39,986 | ₹2,09,986 | 10.9% |
| Nippon India Flexi CapNippon India Flexi Cap Fund (Direct) | ₹6,30,000 | ₹7,74,762 | ₹1,44,762 | 7.8% |
Invesco India ContraInvesco India Contra Fund (Direct)
Nippon India Flexi CapNippon India 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.
Invesco India Contra vs Nippon India Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Contra Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.49% | −7.62% |
| Standard deviation | 15.31% | 15.01% |
| Sharpe ratio | -0.77 | -0.86 |
| Sortino ratio | -1.04 | -1.14 |
| Maximum drawdown | −16.5% (30-03-2026) | −15.0% (30-03-2026) |
| Beta | 1.05 | 1.03 |
| Alpha | +1.84% | +0.10% |
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 | Invesco India Contra Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.19% | +9.10% |
| Standard deviation | 14.87% | 14.53% |
| Sharpe ratio | 0.55 | 0.21 |
| Sortino ratio | 0.75 | 0.28 |
| Maximum drawdown | −18.6% (28-02-2025) | −19.8% (28-02-2025) |
| Beta | 1.02 | 1.00 |
| Alpha | +4.20% | −1.13% |
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 | Invesco India Contra Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.77% | +9.40% |
| Standard deviation | 14.41% | 14.70% |
| Sharpe ratio | 0.41 | 0.25 |
| Sortino ratio | 0.56 | 0.33 |
| Maximum drawdown | −18.6% (28-02-2025) | −19.8% (28-02-2025) |
| Beta | 0.99 | 1.00 |
| Alpha | +3.16% | +0.58% |
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 | Invesco India Contra Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.92% | +10.27% |
| Standard deviation | 15.82% | 14.60% |
| Sharpe ratio | 0.69 | 0.31 |
| Sortino ratio | 0.93 | 0.42 |
| Maximum drawdown | −36.5% (23-03-2020) | −19.8% (28-02-2025) |
| Beta | 0.97 | 1.00 |
| Alpha | +4.31% | +0.33% |
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.
Invesco India Contra Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Contra Fund (Direct) | −18.6% | 24-09-2024 | 28-02-2025 | Not yet | -- | −8.3% |
| Nippon India Flexi Cap Fund (Direct) | −19.8% | 23-09-2024 | 28-02-2025 | Not yet | -- | −10.6% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 18-08-2021, 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.
Invesco India Contra Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
BSE 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.
Invesco India Contra Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
BSE 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.
Invesco India Contra Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Invesco India Contra Fund (Direct) | 106% | 90% | 3.68% |
| Nippon India Flexi Cap Fund (Direct) | 97% | 91% | 3.53% |
From month-end values since 18-08-2021. 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.
Invesco India Contra vs Nippon India Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Contra Fund, September 2026; Nippon India Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 39.5%
- Held by both
- 30
- Only in Invesco India Contra
- 41
- Only in Nippon India Flexi Cap
- 55
| Security | % of Invesco India Contra | % of Nippon India Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 5.90% | 7.07% |
| Larsen & Toubro Limited | 4.84% | 2.64% |
| Axis Bank Limited | 2.38% | 3.91% |
| Mahindra & Mahindra Limited | 2.95% | 2.36% |
| State Bank of India | 3.07% | 1.99% |
| Bharti Airtel Limited | 2.40% | 1.90% |
| Reliance Industries Limited | 1.89% | 3.39% |
| Samvardhana Motherson International Limited | 1.57% | 2.28% |
| Coforge Limited | 2.02% | 1.55% |
| Infosys Limited | 2.16% | 1.35% |
| Kotak Mahindra Bank Ltd | 1.43% | 1.19% |
| Varun Beverages Ltd | 1.21% | 1.15% |
| Multi Commodity Exchange of India Limited | 1.20% | 1.14% |
| Tech Mahindra Limited | 1.45% | 1.13% |
| Tata Motors Ltd | 1.83% | 1.07% |
| Aditya Birla Sun Life AMC Limited | 1.04% | 1.13% |
| Swiggy Limited | 1.03% | 1.26% |
| InterGlobe Aviation Limited | 0.98% | 1.56% |
| Apollo Hospitals Enterprise Limited | 2.06% | 0.88% |
| Cholamandalam Investment and Finance Company Limited | 2.45% | 0.85% |
| Torrent Pharmaceuticals Limited | 0.76% | 1.40% |
| Lupin Limited | 1.22% | 0.72% |
| Jubilant Foodworks Limited | 0.88% | 0.70% |
| Delhivery Limited | 1.54% | 0.69% |
| KFin Technologies Limited | 1.07% | 0.58% |
| MphasiS Limited | 0.61% | 0.55% |
| Meesho Ltd | 1.98% | 0.54% |
| SBI Life Insurance Company Limited | 0.49% | 0.41% |
| MedPlus Health Services Limited | 0.37% | 0.32% |
| Honeywell Automation India Limited | 0.85% | 0.20% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.5% means 39.5% 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 Invesco India Contra Fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 2.13% |
| Glenmark Pharmaceuticals Limited | 2.06% |
| Prestige Estates Projects Limited | 1.96% |
| IndusInd Bank Limited | 1.86% |
| FSN E-Commerce Ventures Limited | 1.76% |
Largest holdings only in Nippon India Flexi Cap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 5.84% |
| Eternal Limited | 2.21% |
| Kirloskar Oil Engines Limited | 1.98% |
| Bajaj Finance Limited | 1.94% |
| Radico Khaitan Limited | 1.90% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Contra | Nippon India Flexi Cap |
|---|---|---|
| Equity | 96.6% | 99.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.4% | 1.0% |
Market cap of stocks
| Market cap | Invesco India Contra | Nippon India Flexi Cap |
|---|---|---|
| Large Cap | 52.2% | 62.9% |
| Mid Cap | 21.1% | 21.4% |
| Small Cap | 22.5% | 14.6% |
| Not on AMFI's list | 0.7% | 0.1% |
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 | Invesco India Contra | Nippon India Flexi Cap |
|---|---|---|
| Banks | 19.3% | 21.0% |
| Retailing | 6.7% | 8.2% |
| Pharmaceuticals & Biotechnology | 7.9% | 5.5% |
| IT - Software | 7.8% | 5.5% |
| Construction | 5.7% | 2.6% |
| Capital Markets | 5.0% | 3.1% |
| Finance | 4.5% | 4.2% |
| Petroleum Products | 1.9% | 4.4% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Contra vs Nippon India Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Contra Fund | Nippon India Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.76% | 0.66% |
| Base expense ratio (Direct) | 0.49% | 0.48% |
| Total expense ratio (Regular) | 1.85% | 1.85% |
| Base expense ratio (Regular) | 1.42% | 1.52% |
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 Invesco India Contra with
Invesco India Contra Fund vs Nippon India Flexi Cap Fund: Frequently Asked Questions
What is the difference between Invesco India Contra Fund and Nippon India Flexi Cap Fund?
Invesco India Contra Fund is a Value and Contra fund, Nippon India Flexi Cap Fund is a Flexi Cap fund, run by Invesco Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 39.5%. Invesco India Contra Fund charges 0.76% a year and Nippon India Flexi Cap Fund 0.66%.
Which has given higher returns, Invesco India Contra Fund or Nippon India Flexi Cap Fund?
Over 1 year: Invesco India Contra Fund −6.49%, Nippon India Flexi Cap Fund −7.62%. Over 3 years: Invesco India Contra Fund +14.19% a year, Nippon India Flexi Cap Fund +9.10% a year. Over 5 years: Invesco India Contra Fund +11.77% a year, Nippon India Flexi Cap Fund +9.40% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Contra Fund or Nippon India Flexi Cap Fund?
Nippon India Flexi Cap Fund charges less: 0.66% a year against 0.76%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Contra Fund and Nippon India Flexi Cap Fund overlap?
39.5%. They hold 30 of the same securities, the largest shared ones being ICICIBANK, LT, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Contra Fund or Nippon India Flexi Cap Fund?
On SEBI's riskometer, Invesco India Contra Fund is rated Very High and Nippon India Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.87% and 14.53% a year.
Which is better for SIP, Invesco India Contra Fund or Nippon India Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,03,061 in Invesco India Contra Fund (XIRR 10.8% a year) and ₹7,41,931 in Nippon India Flexi Cap Fund (XIRR 7.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Contra Fund and Nippon India Flexi Cap Fund?
Yes. 39.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Contra Fund and Nippon India Flexi Cap Fund?
Invesco India Contra Fund: Taher Badshah, Deepak Gupta. Nippon India Flexi Cap Fund: Meenakshi Dawar, Dhrumil Shah.
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.