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These equity MFs failed to outperform their respective benchmarks in five years – What is down capture ratio?

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What is down capture ratio?

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What is down capture ratio?

This ratio is used to measure fund managers’ overall performance in down markets. A down capture ratio of less than 100 indicates that a fund has lost less than its benchmark in the time period when the latter has been in the red zone.

ANI

​Top Underperformers

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​Top Underperformers

These five equity mutual fund schemes had the highest down capture ratio in 5 years, according to the data by ACE MF. Of 285 equity schemes, 46 schemes had a down capture ratio of over 100.

ETMarkets.com

Old Bridge Focused Equity Fund

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Old Bridge Focused Equity Fund

This focused fund had a down capture ratio of 207.21. This indicates that the scheme has lost more than its benchmark when the market was in the red zone.

ETMarkets.com

​Mirae Asset Flexi Cap Fund

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​Mirae Asset Flexi Cap Fund

This flexi-cap fund had a down capture ratio of 131.09. This downside ratio indicates that the scheme has lost more than its benchmark in a five year horizon.

ETMarkets.com

​Baroda BNP Paribas Value Fund

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​Baroda BNP Paribas Value Fund

This value fund had a down capture ratio of 128.27. This downside ratio indicates that the scheme has lost more than its benchmark in a five year horizon.

ETMarkets.com

Nippon India ELSS Tax Saver Fund

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Nippon India ELSS Tax Saver Fund

This ELSS fund had a down capture ratio of 119.14. This indicates that the scheme has lost more than its benchmark in a five year horizon.

ETMarkets.com

Quant Value Fund
This value fund had a down capture ratio of 118.32. This indicates that the scheme has lost more than its benchmark in a five year horizon.

ETMarkets.com

​The Exceptions
Bajaj Finserv Large and Mid Cap Fund, Bajaj Finserv Flexi Cap Fund, and ITI Focused Equity Fund had a downside capture ratio of (17.90), (5.18), and (0.20), respectively. Negative downside capture ratio indicates that even in the period when the market was in the red or when the market fell, the fund on an average gave positive returns.

ANI


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