Nippon India Flexi Cap Fund vs Nippon India Retirement Fund- Income Generation Scheme
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Flexi Cap Fund is a Flexi Cap fund and Nippon India Retirement Fund- Income Generation Scheme is a mutual fund. In the 3 years to 30-10-2026, Nippon India Flexi Cap Fund (Direct) returned 9.1% a year and Nippon India Retirement Fund- Income Generation Scheme (Direct) returned 6.4% a year. Nippon India Flexi Cap Fund charges 0.66% a year and Nippon India Retirement Fund- Income Generation Scheme 0.98% (Direct plans). Their portfolios overlap 17.5%: they hold 18 of the same securities.
Nippon India Flexi Cap Fund
Flexi Cap
- 3 year return
- 9.1%
- Expense ratio
- 0.66%
- NAV
- ₹16.77
Nippon India Retirement Fund- Income Generation Scheme
- 3 year return
- 6.4%
- Expense ratio
- 0.98%
- NAV
- ₹22.75
Which is better, Nippon India Flexi Cap or Nippon India Retirement Fund- Income Generation Scheme? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Flexi Cap returned more over 5 years: 9.4% a year against 5.8%.
- Nippon India Flexi Cap returned more over 3 years: 9.1% a year against 6.4%.
- Nippon India Flexi Cap costs less: 0.66% a year against 0.98% (Direct plans).
- Nippon India Retirement Fund- Income Generation Scheme swung less over 3 years: a standard deviation of 4.6% a year against 14.5%.
- Nippon India Retirement Fund- Income Generation Scheme fell less in its worst fall since 18-08-2021: −7.4% against −19.8%.
- Nippon India Flexi Cap holds more in large companies: 62.9% of the fund in large caps against 17.2%.
- Nippon India Flexi Cap is the larger fund: ₹9,214 Cr against ₹138 Cr.
- Their portfolios overlap 17.5%: 18 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 | Nippon India Flexi Cap Fund | Nippon India Retirement Fund- Income Generation Scheme |
|---|---|---|
| Fund house | Nippon India Mutual Fund | Nippon India Mutual Fund |
| Category | Flexi Cap | Not available |
| AUM | ₹9,214 Cr (30-09-2026) | ₹138 Cr (30-09-2026) |
| NAV | ₹16.77 (Direct) | ₹22.75 (Direct) |
| Expense ratio (Direct) | 0.66% | 0.98% |
| Expense ratio (Regular) | 1.85% | 2.11% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 500 TRI | Not available |
| Launch date | 13-08-2021 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Meenakshi Dawar, Dhrumil Shah | Not available |
| Exit load | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days | Not available |
Nippon India Flexi Cap vs Nippon India Retirement Fund- Income Generation Scheme: 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Flexi Cap Fund (Direct) | −2.31% | −6.36% | −2.62% | −7.62% | +9.10% | +9.40% | -- |
| Nippon India Retirement Fund- Income Generation Scheme (Direct) | −0.70% | −3.53% | +0.12% | −1.77% | +6.39% | +5.81% | +6.84% |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
Nippon India Flexi Cap vs Nippon India Retirement Fund- Income Generation Scheme: Year-wise Returns
| Year | Flexi CapNippon India Flexi Cap | Retirement Fund- Income Generation SchemeNippon India Retirement Fund- Income Generation Scheme |
|---|---|---|
| 2026to date | −6.70% | −1.89% |
| 2025 | +3.90% | +4.43% |
| 2024 | +16.94% | +12.34% |
| 2023 | +34.89% | +11.45% |
| 2022 | +0.74% | +3.07% |
| 2021 | -- | +6.01% |
Nippon India Flexi Cap vs Nippon India Retirement Fund- Income Generation Scheme: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Nippon India Flexi Cap 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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Retirement Fund- Income Generation Scheme (Direct)
Nifty 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% | 87% |
| Nippon India Retirement Fund- Income Generation Scheme | 0.0 | 0.0 | 78.7 | 21.3 | 0.0 | 0.0 | 0.0 | 9.0% | 9.0% | 6.0% | 12.6% | 0% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.5 | 34.8 | 55.8 | 5.9 | 0.0 | 15.5% | 15.6% | 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 18-08-2021. Past returns do not promise future returns.
Nippon India Flexi Cap vs Nippon India Retirement Fund- Income Generation Scheme: 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 18-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Flexi CapNippon India Flexi Cap Fund (Direct) | ₹6,30,000 | ₹7,74,762 | ₹1,44,762 | 7.8% |
| Nippon India Retirement Fund- Income Generation SchemeNippon India Retirement Fund- Income Generation Scheme (Direct) | ₹6,30,000 | ₹7,21,568 | ₹91,568 | 5.1% |
Nippon India Flexi CapNippon India Flexi Cap Fund (Direct)
Nippon India Retirement Fund- Income Generation SchemeNippon India Retirement Fund- Income Generation Scheme (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.
Nippon India Flexi Cap vs Nippon India Retirement Fund- Income Generation Scheme: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India Flexi Cap Fund (Direct) | Nippon India Retirement Fund- Income Generation Scheme (Direct) |
|---|---|---|
| Return (CAGR) | −7.62% | −1.77% |
| Standard deviation | 15.01% | 5.34% |
| Sharpe ratio | -0.86 | -1.31 |
| Sortino ratio | -1.14 | -1.76 |
| Maximum drawdown | −15.0% (30-03-2026) | −4.9% (02-04-2026) |
| Beta | 1.03 | -- |
| Alpha | +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 | Nippon India Flexi Cap Fund (Direct) | Nippon India Retirement Fund- Income Generation Scheme (Direct) |
|---|---|---|
| Return (CAGR) | +9.10% | +6.39% |
| Standard deviation | 14.53% | 4.56% |
| Sharpe ratio | 0.21 | 0.08 |
| Sortino ratio | 0.28 | 0.11 |
| Maximum drawdown | −19.8% (28-02-2025) | −4.9% (02-04-2026) |
| Beta | 1.00 | -- |
| Alpha | −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 | Nippon India Flexi Cap Fund (Direct) | Nippon India Retirement Fund- Income Generation Scheme (Direct) |
|---|---|---|
| Return (CAGR) | +9.40% | +5.81% |
| Standard deviation | 14.70% | 4.64% |
| Sharpe ratio | 0.25 | 0.00 |
| Sortino ratio | 0.33 | 0.00 |
| Maximum drawdown | −19.8% (28-02-2025) | −7.4% (17-06-2022) |
| Beta | 1.00 | -- |
| Alpha | +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 | Nippon India Flexi Cap Fund (Direct) | Nippon India Retirement Fund- Income Generation Scheme (Direct) |
|---|---|---|
| Return (CAGR) | +10.27% | +7.26% |
| Standard deviation | 14.60% | 4.82% |
| Sharpe ratio | 0.31 | 0.34 |
| Sortino ratio | 0.42 | 0.47 |
| Maximum drawdown | −19.8% (28-02-2025) | −7.4% (17-06-2022) |
| Beta | 1.00 | -- |
| Alpha | +0.33% | -- |
From daily NAVs, 18-08-2021 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.
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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Retirement Fund- Income Generation Scheme (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Nippon India Flexi Cap Fund (Direct) | −19.8% | 23-09-2024 | 28-02-2025 | Not yet | -- | −10.6% |
| Nippon India Retirement Fund- Income Generation Scheme (Direct) | −7.4% | 15-11-2021 | 17-06-2022 | 07-09-2022 | 3 months | −4.3% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Retirement Fund- Income Generation Scheme (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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Retirement Fund- Income Generation Scheme (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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Retirement Fund- Income Generation Scheme (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India Flexi Cap Fund (Direct) | 98% | 93% | 3.48% |
| Nippon India Retirement Fund- Income Generation Scheme (Direct) | 38% | 25% | 10.82% |
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.
Nippon India Flexi Cap vs Nippon India Retirement Fund- Income Generation Scheme: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Flexi Cap Fund, September 2026; Nippon India Retirement Fund- Income Generation Scheme, September 2026
Holdings in common
- Overlap
- 17.5%
- Held by both
- 18
- Only in Nippon India Flexi Cap
- 67
- Only in Nippon India Retirement Fund- Income Generation Scheme
- 10
| Security | % of Nippon India Flexi Cap | % of Nippon India Retirement Fund- Income Generation Scheme |
|---|---|---|
| ICICI Bank Limited | 7.07% | 2.87% |
| State Bank of India | 1.99% | 2.08% |
| HDFC Bank Limited | 5.84% | 1.54% |
| Reliance Industries Limited | 3.39% | 1.54% |
| Larsen & Toubro Limited | 2.64% | 1.29% |
| Axis Bank Limited | 3.91% | 1.15% |
| Samvardhana Motherson International Limited | 2.28% | 1.13% |
| NTPC Limited | 1.59% | 1.11% |
| Eternal Limited | 2.21% | 0.99% |
| Mahindra & Mahindra Limited | 2.36% | 0.85% |
| Dixon Technologies (India) Limited | 0.83% | 0.71% |
| Infosys Limited | 1.35% | 0.66% |
| SBI Life Insurance Company Limited | 0.41% | 0.43% |
| Crompton Greaves Consumer Electricals Limited | 0.62% | 0.30% |
| Kaynes Technology India Limited | 1.34% | 0.28% |
| Sun Pharmaceutical Industries Limited | 0.76% | 0.26% |
| Tube Investments of India Limited | 0.77% | 0.21% |
| Apollo Hospitals Enterprise Limited | 0.88% | 0.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.5% means 17.5% 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 Nippon India Flexi Cap Fund
| Security | % of fund |
|---|---|
| Kirloskar Oil Engines Limited | 1.98% |
| Bajaj Finance Limited | 1.94% |
| Bharti Airtel Limited | 1.90% |
| Radico Khaitan Limited | 1.90% |
| Mankind Pharma Limited | 1.87% |
Largest holdings only in Nippon India Retirement Fund- Income Generation Scheme
| Security | % of fund |
|---|---|
| 7.06% Government of India | 30.72% |
| 6.68% Government of India | 17.08% |
| 8.13% Government of India | 16.12% |
| 8.17% Government of India | 4.98% |
| 6.36% Government of India | 3.55% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Flexi Cap | Nippon India Retirement Fund- Income Generation Scheme |
|---|---|---|
| Equity | 99.0% | 19.2% |
| Debt | 0.0% | 74.9% |
| Cash and others | 1.0% | 5.9% |
Market cap of stocks
| Market cap | Nippon India Flexi Cap | Nippon India Retirement Fund- Income Generation Scheme |
|---|---|---|
| Large Cap | 62.9% | 17.2% |
| Mid Cap | 21.4% | 0.9% |
| Small Cap | 14.6% | 1.0% |
| Not on AMFI's list | 0.1% | 0.0% |
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 | Nippon India Flexi Cap | Nippon India Retirement Fund- Income Generation Scheme |
|---|---|---|
| Banks | 21.0% | 7.6% |
| Retailing | 8.2% | 1.0% |
| Pharmaceuticals & Biotechnology | 5.5% | 0.3% |
| IT - Software | 5.5% | 1.1% |
| Petroleum Products | 4.4% | 1.5% |
| Finance | 4.2% | 0.0% |
| Auto Components | 3.5% | 1.3% |
| Construction | 2.6% | 1.3% |
| Power | 2.4% | 1.1% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Flexi Cap vs Nippon India Retirement Fund- Income Generation Scheme: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Flexi Cap Fund | Nippon India Retirement Fund- Income Generation Scheme |
|---|---|---|
| Total expense ratio (Direct) | 0.66% | 0.98% |
| Base expense ratio (Direct) | 0.48% | 0.83% |
| Total expense ratio (Regular) | 1.85% | 2.11% |
| Base expense ratio (Regular) | 1.52% | 1.79% |
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
Nippon India Flexi Cap Fund vs Nippon India Retirement Fund- Income Generation Scheme: Frequently Asked Questions
What is the difference between Nippon India Flexi Cap Fund and Nippon India Retirement Fund- Income Generation Scheme?
Nippon India Flexi Cap Fund is a Flexi Cap fund, Nippon India Retirement Fund- Income Generation Scheme is a mutual fund, run by Nippon India Mutual Fund. Their portfolios overlap 17.5%. Nippon India Flexi Cap Fund charges 0.66% a year and Nippon India Retirement Fund- Income Generation Scheme 0.98%.
Which has given higher returns, Nippon India Flexi Cap Fund or Nippon India Retirement Fund- Income Generation Scheme?
Over 1 year: Nippon India Flexi Cap Fund −7.62%, Nippon India Retirement Fund- Income Generation Scheme −1.77%. Over 3 years: Nippon India Flexi Cap Fund +9.10% a year, Nippon India Retirement Fund- Income Generation Scheme +6.39% a year. Over 5 years: Nippon India Flexi Cap Fund +9.40% a year, Nippon India Retirement Fund- Income Generation Scheme +5.81% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India Flexi Cap Fund or Nippon India Retirement Fund- Income Generation Scheme?
Nippon India Flexi Cap Fund charges less: 0.66% a year against 0.98%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Flexi Cap Fund and Nippon India Retirement Fund- Income Generation Scheme overlap?
17.5%. They hold 18 of the same securities, the largest shared ones being ICICIBANK, SBIN, HDFCBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Nippon India Flexi Cap Fund or Nippon India Retirement Fund- Income Generation Scheme?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,41,931 in Nippon India Flexi Cap Fund (XIRR 7.6% a year) and ₹6,94,448 in Nippon India Retirement Fund- Income Generation Scheme (XIRR 5.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India Flexi Cap Fund and Nippon India Retirement Fund- Income Generation Scheme?
Yes. 17.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.