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    DSP Flexi Cap Fund

    Flexi CapDirect and Regular plans, Growth and IDCW options

    Data as on 30-10-2026

    DSP Flexi Cap Fund is a Flexi Cap fund run by DSP Mutual Fund. On 30-09-2026, it managed ₹11,720 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 10.6% a year and its Regular plan returned 9.4% a year. Its benchmark, Nifty 500 TRI, returned 10.2% a year over the same 3 years.

    NAV (Direct plan)
    ₹109.49
    ▼ 0.30%30-10-2026
    NAV (Regular plan)
    ₹97.18
    ▼ 0.30%30-10-2026
    Expense ratio
    0.87%Direct1.87%Regular
    Riskometer
    Very High
    Set by the fund house
    3 year return
    10.6%Direct9.4%Regular

    DSP Flexi Cap Fund NAV Today

    NAV on 30-10-2026: Direct Plan Growth ₹109.49 (down 0.30% that day); Regular Plan Growth ₹97.18 (down 0.30% that day).

    DSP Flexi Cap Fund Returns vs Nifty 500 TRI

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Trailing returns
    Period1M3M6M1Y3Y5Y10Y
    This fund (Direct)−1.20%−6.32%−1.01%−6.29%+10.58%+8.62%+13.06%
    This fund (Regular)−1.29%−6.55%−1.52%−7.26%+9.44%+7.47%+11.98%
    Nifty 500 TRI−0.75%−6.05%−2.83%−7.34%+10.22%+8.81%+12.51%
    Flexi Cap average−1.62%−4.17%+1.00%−3.58%+12.37%+10.04%+13.13%
    Best in Flexi Cap+0.85%−0.17%+8.85%+6.40%+18.32%+15.53%+18.28%
    Worst in Flexi Cap−6.55%−8.89%−7.46%−10.21%+6.61%+3.93%+9.31%
    Rank in Flexi Cap23/4635/4430/4431/4226/3620/278/18

    Category rows compare the Direct plans of 46 Flexi Cap funds. Rank 1 is the highest return.

    DSP Flexi Cap Fund Year-wise Returns

    Return of each calendar year
    YearDirectRegularNifty 500 TRI
    2026to date−6.53%−7.32%−7.51%
    2025+5.67%+4.56%+7.76%
    2024+19.39%+18.16%+16.24%
    2023+33.56%+32.19%+26.91%
    2022−3.46%−4.54%+4.25%
    2021+33.87%+32.43%+31.60%

    DSP Flexi Cap Fund Rolling Returns

    The return of every holding period in the fund's history, not only the one that ends today

    Rolling returns

    Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 2,668 periods, one for each trading day from 04-01-2016 to 30-10-2026.

    −10%0%10%20%30%
    Nov 2013
    to
    Nov 2016
    Sept 2015
    to
    Sept 2018
    Jul 2017
    to
    Jul 2020
    May 2019
    to
    May 2022
    Mar 2021
    to
    Mar 2024
    Dec 2022
    to
    Dec 2025
    DSP Flexi Cap Fund (Direct)Nifty 500 TRI

    Every holding period at a glance

    PeriodPeriodsMedianLowestHighestWith a lossBenchmark medianBeat benchmark
    1 year3,15614.5%−22.0%87.5%20%11.3%59%
    2 years2,91416.4%−8.5%46.6%3%15.3%70%
    3 years2,66816.1%−1.7%29.3%0%14.9%75%
    5 years2,17316.4%1.9%27.6%0%14.8%83%
    7 years1,68415.6%10.1%19.8%0%14.2%98%
    10 years94115.6%12.5%19.0%0%14.5%100%

    Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 500 TRI over the same days. Past returns do not promise future returns.

    DSP Flexi Cap Fund Risk

    How much it swings, and the falls an investor had to sit through

    Risk and return

    MeasureDSP Flexi Cap Fund (Direct)This fundNifty 500 TRI
    Return (CAGR)+10.58%+10.22%
    Standard deviation14.05%14.30%
    Sharpe ratio0.320.29
    Sortino ratio0.440.40
    Maximum drawdown−17.6% (28-02-2025)−18.6% (28-02-2025)
    Beta0.951.00
    Alpha+0.56%0.00%

    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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

    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.

    −40%−30%−20%−10%0%
    2014201620182020202220242026
    DSP Flexi Cap Fund (Direct)Nifty 500 TRI
    Worst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    DSP Flexi Cap Fund (Direct)−35.7%19-02-202023-03-202013-11-20208 months−8.4%
    Nifty 500 TRI−38.1%17-01-202023-03-202006-11-20207 months−8.8%

    From the Direct plan's daily NAV since 02-01-2013, adjusted for unit splits, and Nifty 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

    DSP Flexi Cap Fund vs Other Flexi Cap Funds

    The five Flexi Cap funds with the best three year return, and this fund. Direct plans.

    Fund nameRankAUM (Cr)Exp. ratio1Y return3Y return3Y alpha3Y beta3Y Sharpe3Y Sortino
    ITI Flexi Cap Fund1/361,5880.88%+6.40%+18.32%+7.73%1.090.761.02Compare
    Bank of India Flexi Cap Fund2/363,0980.89%+1.91%+18.16%+7.73%1.140.690.92Compare
    Motilal Oswal Flexi Cap Fund3/3613,4461.19%−3.83%+16.84%+6.55%1.020.640.89Compare
    360 One Flexicap Fund4/362,2460.92%+1.77%+16.69%+6.74%1.010.700.96Compare
    Invesco India Flexi Cap Fund5/365,4370.88%−2.73%+16.68%+6.64%1.040.690.96Compare
    DSP Flexi Cap Fund26/3611,7200.87%−6.29%+10.58%+0.56%0.950.320.44

    AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

    DSP Flexi Cap Fund Expense Ratio and Costs

    What each plan charges a year, in force from 01-10-2026

    PlanBase expense ratioBrokerageTransaction costsLevies and GSTTotal expense ratioFlexi Cap medianCost rank (1 = cheapest)
    Direct0.62%0.04%0.00%0.21%0.87%0.96%15/46
    Regular1.48%0.04%0.00%0.35%1.87%2.19%11/46

    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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Flexi Cap funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

    Direct vs Regular: what the gap cost

    Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

    Over the lastRegularDirectDirect earned more by₹1 lakh became (Regular)₹1 lakh became (Direct)
    1 year−7.26%−6.29%0.97%₹92,740₹93,710
    3 years9.44%10.58%1.14% a year₹1,31,078₹1,35,217
    5 years7.47%8.62%1.15% a year₹1,43,363₹1,51,199
    10 years11.98%13.06%1.08% a year₹3,10,031₹3,41,263

    Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

    DSP Flexi Cap Fund SIP Calculator

    What a one-time or monthly investment in this fund would be worth today, from its own NAV history

    Growth of an investment

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Direct planDSP Flexi Cap Fund (Direct) ₹16,60,000 ₹46,15,482 ₹29,55,482 13.7%
    Regular planDSP Flexi Cap Fund (Regular) ₹16,60,000 ₹42,36,155 ₹25,76,155 12.6%
    Nifty 500 TRI ₹16,60,000 ₹42,31,853 ₹25,71,853 12.6%
    Category averageCategory average, 46 Flexi Cap funds ₹16,60,000 ₹48,38,049 ₹31,78,049 14.3%
    ₹0₹20.0 L₹40.0 L₹60.0 L
    2014201620182020202220242026
    Direct planDSP Flexi Cap Fund (Direct)Regular planDSP Flexi Cap Fund (Regular)Nifty 500 TRICategory averageCategory average, 46 Flexi Cap fundsAmount invested

    From each plan's published NAV (Growth option), the benchmark's TRI and the category average, 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 Fund Asset Allocation

    Asset allocation as on 30-09-2026

    What the fund holds

    96.7%Equity

    AssetFundCategory
    Equity96.7%94.3%
    Cash and others3.3%4.6%

    Market cap of stocks

    Market capFundCategory
    Large Cap60.6%51.2%
    Mid Cap24.3%19.0%
    Small Cap11.8%21.9%

    Share of the whole fund. Category: the average of the Flexi Cap funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

    DSP Flexi Cap Fund Sector Allocation

    Sector allocation of the fund's stocks as on 30-09-2026

    Largest sectors

    1. Banks26.4%

    2. Automobiles6.9%

    3. IT - Software6.1%

    4. Insurance5.9%

    5. Capital Markets5.1%

    6. Pharmaceuticals & Biotechnology5.1%

    7. Auto Components5.1%

    8. Finance4.7%

    9. Industrial Products4.3%

    10. Telecom - Services4.2%

    The ten largest of 26 sectors. The other 16 add up to 23.0%.

    Sector changes

    SectorJuly 2026August 2026September 2026Change
    Banks26.3%26.3%26.4%+0.1%
    Automobiles7.1%7.1%6.9%−0.2%
    IT - Software6.2%6.7%6.1%−0.1%
    Insurance6.0%5.8%5.9%−0.1%
    Capital Markets3.6%5.2%5.1%+1.5%

    Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

    DSP Flexi Cap Fund Portfolio Holdings

    As on 30-09-2026 · 67 holdings · from the fund house's monthly portfolio

    HoldingsSectorWeight%Holdings trend1M change
    ICICI Bank LimitedBanks9.28%0.0%
    HDFC Bank LimitedBanks8.56%0.0%
    Axis Bank LimitedBanks4.90%0.0%
    Mahindra & Mahindra LimitedAutomobiles4.10%0.0%
    State Bank of IndiaBanks3.43%0.0%
    Bharti Airtel LimitedTelecom - Services2.84%0.0%
    Cholamandalam Investment and Finance Co LimitedFinance2.33%0.0%
    Cipla LimitedPharmaceuticals & Biotechnology2.30%0.0%
    SBI Life Insurance Co LimitedInsurance2.23%0.0%
    Bajaj Finance LimitedFinance2.21%0.0%

    DSP Flexi Cap Fund Stocks Bought and Sold

    All changes are between August 2026 and September 2026

    More
    Stocks bought and sold in September 2026
    Coforge LimitedReduced−11.2%2.01%
    Max Financial Services LimitedAdded+4.1%2.04%
    Eternal LimitedReduced−1.7%1.97%
    Radico Khaitan LimitedReduced−3.1%1.81%
    CG Power and Industrial Solutions LimitedReduced−8.3%1.63%
    Oberoi Realty LimitedNewNew1.57%
    Coromandel International LimitedAdded+8.3%1.47%
    Phoenix Mills LimitedAdded+57.3%1.12%
    Century Plyboards (India) LimitedAdded+2.2%1.06%
    Rainbow Childrens Medicare LimitedReduced−0.8%1.06%

    A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

    What DSP Flexi Cap Fund bought and sold

    DSP Flexi Cap Fund Portfolio Overlap

    Funds with the most similar portfolios, across every fund house and category

    FundOverlapHoldings in common
    DSP Focused FundFocused · DSP64.3%28Compare
    DSP Large & Mid Cap FundLarge & Mid Cap · DSP59.6%42Compare
    DSP ELSS Tax Saver FundELSS · DSP57.9%33Compare
    DSP Aggressive Hybrid FundAggressive Hybrid · DSP49.3%32Compare
    DSP Value FundValue and Contra · DSP47.5%25Compare
    Nippon India Flexi Cap FundFlexi Cap · Nippon India44.8%28Compare
    Aditya Birla Sun Life ESG Integration Strategy FundThematic · Aditya Birla Sun Life44.4%24Compare
    Canara Robeco Large Cap FundLarge Cap · Canara Robeco43.6%22Compare

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

    DSP Flexi Cap Fund Overview

    Fund facts from the scheme summary document, as on 16-10-2026

    Expense ratio (Direct)
    0.87%
    Expense ratio (Regular)
    1.87%
    Category
    Flexi Cap
    Risk
    Very High
    Benchmark
    Nifty 500 TRI
    Launch date
    29-04-1997
    Minimum investment
    ₹100
    Minimum additional investment
    ₹100
    AUM
    ₹11,719.54 Cr (30-09-2026)
    Lock in
    None
    Scheme code (Direct)
    119076
    ISIN (Direct)
    INF740K01PI2
    Scheme code (Regular)
    105875
    ISIN (Regular)
    INF740K01037
    NAV history
    From 02-01-2013, 13.8 years
    Exit load
    Exit load of 1% if redeemed less than 12 months

    Tax on DSP Flexi Cap Fund returns

    • DSP Flexi Cap Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
    • Units sold within 1 year: the gain is taxed at 20%.
    • Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
    • IDCW (dividend) payouts are added to your income and taxed at your slab rate.
    • A stamp duty of 0.005% is deducted when you invest.

    Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

    All plans and options

    PlanOptionNAVAs on
    directGrowth₹109.49430-10-2026
    directIDCW₹80.49430-10-2026
    regularGrowth₹97.17730-10-2026
    regularIDCW₹55.13730-10-2026

    About DSP Flexi Cap Fund

    DSP Flexi Cap Fund is a mutual fund from DSP Mutual Fund. Its category is Flexi Cap. It was launched on 29-04-1997. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 67 securities.

    Fund Manager

    • Bhavin Gandhi

      Fund manager of DSP Flexi Cap Fund, since 01-03-2024

    See all funds of DSP Mutual Fund

    AUM change

    September 2026
    ₹11,719.54 Cr
    −6.25% from August 2026
    August 2026
    ₹12,500.27 Cr
    +0.63% from July 2026
    July 2026
    ₹12,422.33 Cr
    +1.52% from June 2026

    AUM moves with money invested or taken out, and with the value of what the fund holds.

    Compare DSP Flexi Cap Fund with Other Funds

    Returns, risk, costs and the stocks they share, side by side

    Frequently Asked Questions for DSP Flexi Cap Fund

    What is the current NAV of DSP Flexi Cap Fund?

    The Direct plan NAV is ₹109.494. The Regular plan NAV is ₹97.177, as on 30-10-2026.

    What are the returns of DSP Flexi Cap Fund?

    The Direct plan returned −6.29% in 1 year, +10.58% a year over 3 years, +8.62% a year over 5 years. The Regular plan returned −7.26% in 1 year, +9.44% a year over 3 years, +7.47% a year over 5 years. These figures are as on 30-10-2026.

    What is the expense ratio of DSP Flexi Cap Fund?

    The Direct plan charges 0.87% a year. The Regular plan charges 1.87% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.

    What is the AUM of DSP Flexi Cap Fund?

    DSP Flexi Cap Fund managed ₹11,719.54 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

    What are the top holdings of DSP Flexi Cap Fund?

    At the end of September 2026 the largest holdings were ICICIBANK (9.28%), HDFCBANK (8.56%), AXISBANK (4.90%), M&M (4.10%), SBIN (3.43%). The fund held 67 securities in all.

    What did DSP Flexi Cap Fund buy and sell in September 2026?

    It bought 2 new stocks: Oberoi Realty Limited, Bharat Forge Limited. It sold out of 2: REC Limited, Power Finance Corporation Limited. It added shares in 5. It reduced 6.

    How do I invest in DSP Flexi Cap Fund?

    Through DSP Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

    Who is the fund manager of DSP Flexi Cap Fund?

    Bhavin Gandhi (since 01-03-2024).

    Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

    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.

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