# Helios Flexi Cap Fund Direct Growth

Helios Flexi Cap Fund Direct Growth is a flexi cap fund from Helios Mutual Fund, launched in November 2023. Foliyo’s research tags it Emerging.

Updated 2 November 2026 by the Foliyo Research Desk, led by Sachin Kabra, Principal Officer (SEBI RIA INA000023454) · https://foliyo.ai/mutual-funds/helios-flexi-cap-fund-direct-growth/

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- NAV (30 October 2026): ₹15.41
- Fund size: ₹8,784 Cr
- Expense ratio: 0.85%
- 1-year return: −3.0%

1 year: NAV ₹15.89 on 30 October 2025, **₹15.41** on 30 October 2026.

Since the start: NAV ₹10.00 on 13 November 2023, **₹15.41** on 30 October 2026.

## Foliyo’s view: Emerging

(Emerging) Promising, not proven: ahead of peers in most 1-year windows, but it fell almost as much as its benchmark in bad months.

### Why it is tagged Emerging

Foliyo’s Research Desk tags a fund **Emerging** when it is under 3 years old and its first year is among the strongest in its category, judged against every peer’s last year over the same months on 1-year return (25% of the weight), how often it stayed ahead of the peer median (15%), Sharpe ratio (15%), worst fall (10%), downside capture (10%) and expense ratio (15%). Helios Flexi Cap Fund ranks **16 of 38** in Flexi Cap, 2.9 years after launch. An Emerging tag says the start is strong; it becomes a Leader, Strong, Steady or Laggard call once the fund has a 3-year record.

#### Pros

- It was ahead of the peer median in 92.2% of rolling 1-year periods, and the 1-year return is -5.7% against -6.6%.
- The expense ratio is 0.85% against a peer median of 0.89%, in line with peers.
- The fund is 2.9 years old, with Alok Bahl as lead since Nov 2023, so the record is short.

#### Cons

- 1-year downside capture is 99, volatility 20.3% and maximum drawdown -15.7%, so there was little cushion in falls.
- The 1-year Sharpe is 0.0, so it has not yet been paid for the risk taken.

## Against similar funds

Figures from the review of 23 October 2026, against the median of the 38 funds in Flexi Cap. Green means better than the median.

- 1-year return: −5.7% +1.0 pts median −6.6%
- Expense ratio: 0.85% −0.04 pts median 0.89%
- Cash: 1.5% median 3.1%
- Fund size: ₹8,784 Cr median ₹6,432 Cr

## Returns

Direct Growth plan, to 30 October 2026.

| Period | Fund | Category average |
| --- | --- | --- |
| 1 month | −1.0% | −1.7% |
| 3 months | −2.6% | −4.4% |
| 6 months | 2.6% | 0.4% |
| 1 year | −3.0% | −4.4% |
| Since launch (a year) | 15.7% | — |

## Portfolio

Portfolio as of 30 September 2026: 73 holdings, price to earnings 31.1, price to book 4.4.

### Asset allocation

- Equity 98.5%
- Cash & equivalents 1.5%

### Market cap split

- Large cap 56.0%
- Mid cap 21.1%
- Small cap 19.4%
- Other 3.5%

### Top sectors

- Financial Services 31.6%
- Consumer Cyclical 17.5%
- Industrials 17.5%
- Technology 10.3%
- Healthcare 5.1%
- Energy 4.8%
- Consumer Defensive 4.0%
- Other 9.2%

### Top 10 holdings

1. Eternal Ltd, Consumer Cyclical: 4.34%
2. HDFC Bank Ltd, Financial Services: 4.31%
3. ICICI Bank Ltd, Financial Services: 4.12%
4. Adani Ports & Special Economic Zone Ltd, Industrials: 3.92%
5. One97 Communications Ltd, Technology: 3.68%
6. Kotak Mahindra Bank Ltd, Financial Services: 3.02%
7. Bajaj Finance Ltd, Financial Services: 2.80%
8. State Bank of India, Financial Services: 2.78%
9. Coforge Ltd, Technology: 2.72%
10. Adani Enterprises Ltd, Energy: 2.65%

## Fund managers

- AB**Alok Bahl** (lead)Since 13 November 2023
- PS**Pratik Singh**Since 20 April 2024

## Investment objective

To generate long-term capital appreciation by investing predominantly in equity & equity related instruments across market capitalization. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.

## Fund details

| Category | Flexi Cap |
| --- | --- |
| Fund house | Helios Mutual Fund |
| Launch date | 13 November 2023 |
| Benchmark | Nifty 500 TR INR |
| Riskometer | Very High Risk |
| Expense ratio | 0.85% (September 2026) |
| Exit load | If units redeemed or switched out are upto 10% (limit) of the units purchased or switched in within 3 months from the date of allotment Nil. If units redeemed or switched out are over and above the limit within 3 months from the date of allotment 1% of the applicable NAV. If redeemed/switched out after 3 months from the date of allotment Nil. |
| ISIN (Direct Growth) | INF0R8701046 |

## How Foliyo’s research ranks funds

Every month Foliyo’s Research Desk reviews each Indian mutual fund with at least ₹500 Cr under management (1,035 funds in the review of 23 October 2026), through its Direct Growth plan, and ranks it against the other funds in its category. No fund house pays us, and we earn no commission, so the ranking has no reason to favour anyone. For equity funds the ranking weighs:

- **Performance (35%):** 3, 5 and 1-year returns, and where the fund stands among all funds in its category over 3 and 5 years.
- **Consistency (25%):** how often the fund was ahead of its peers over rolling 1 and 3-year periods, and in how many calendar years it finished in the top half.
- **Risk (25%):** return per unit of risk (Sharpe and Sortino ratios), how much of the market’s falls it took (downside capture), its worst fall and its volatility.
- **Cost (10%) and stability (5%):** the expense ratio, and how long the lead manager has run the fund.

Where a fund stands sets its label: **Leader** (the strongest in the category), **Strong**, **Steady** and **Laggard** (behind most of its peers). A fund under 3 years old is never judged on a full record: its first year is compared with every peer’s last year (1-year return 25%, steadiness against peers 15%, Sharpe ratio 15%, worst fall 10%, downside capture 10%, cost 15%), and it is labelled **Emerging** when that start is among the strongest, or **Too early** otherwise. Red flags are set by rule, never by opinion: a new lead manager, a portfolio that strays from the category’s mandate, high cash, high cost or a concentrated portfolio.

## Frequently asked questions

### What is the NAV of Helios Flexi Cap Fund Direct Growth today?

The NAV of Helios Flexi Cap Fund Direct Growth was ₹15.4100 on 30 October 2026.

### Why does Foliyo tag Helios Flexi Cap Fund as Emerging?

Foliyo’s Research Desk tags a fund **Emerging** when it is under 3 years old and its first year is among the strongest in its category, judged against every peer’s last year over the same months on 1-year return (25% of the weight), how often it stayed ahead of the peer median (15%), Sharpe ratio (15%), worst fall (10%), downside capture (10%) and expense ratio (15%). Helios Flexi Cap Fund ranks **16 of 38** in Flexi Cap, 2.9 years after launch. An Emerging tag says the start is strong; it becomes a Leader, Strong, Steady or Laggard call once the fund has a 3-year record.

### What is the expense ratio of Helios Flexi Cap Fund Direct Growth?

0.85% a year, as disclosed for September 2026, against a median of 0.89% for similar funds.

### What is the fund size (AUM) of Helios Flexi Cap Fund?

₹8,784 Cr as of 30 September 2026.

### What returns has Helios Flexi Cap Fund Direct Growth given?

−3.0% over the last year and 15.7% a year since launch, to 30 October 2026. Past returns don’t say what it will return next.

### Who manages Helios Flexi Cap Fund?

Alok Bahl (lead), Pratik Singh.

### What is the exit load of Helios Flexi Cap Fund?

If units redeemed or switched out are upto 10% (limit) of the units purchased or switched in within 3 months from the date of allotment Nil. If units redeemed or switched out are over and above the limit within 3 months from the date of allotment 1% of the applicable NAV. If redeemed/switched out after 3 months from the date of allotment Nil.

**About this research.** Labels, ranks and notes come from Foliyo’s Research Desk, led by Sachin Kabra, Principal Officer, which reviews every Indian mutual fund with at least ₹500 Cr under management against its category peers each month, using funds data. They describe how a fund has done, not how it will do, and they are not a recommendation to buy, hold or sell any fund. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance is not indicative of future returns.

Foliyo is the brand of Weekend Bytes Tech Private Limited, a SEBI-registered Investment Adviser (INA000023454). Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Foliyo earns no commission from any fund house.

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