ITI Focused Fund vs JM Focused Fund
ITI Focused Fund and JM Focused Fund are both Focused funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +15.98% vs +12.92%, 5-year CAGR — vs +11.87%, volatility 16.40% vs 17.27%, maximum drawdown −18.44% vs −37.37%. Their portfolios overlap by 8.6% (3 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| ITI Focused | JM Focused | |
|---|---|---|
| Fund house | ITI Mutual Fund | JM Financial Mutual Fund |
| Compared as | Focused | Focused |
| NAV | ₹16.7315 | ₹24.0975 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 21 Jun 2023 | 2 Jan 2013 |
| Track record | 3.4 yrs | 13.8 yrs |
| Fund size (AUM) | ₹607 Cr | ₹274 Cr |
| Securities held | 29 | 27 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| ITI Focused | JM Focused | |
|---|---|---|
| 1 month | −0.90% | +3.83% |
| 3 months | −5.44% | −2.00% |
| 6 months | −1.34% | +2.82% |
| 1 year | +3.20% | +1.00% |
| 3 years (CAGR) | +15.98% | +12.92% |
| 5 years (CAGR) | — | +11.87% |
| 7 years (CAGR) | — | +12.86% |
| 10 years (CAGR) | — | +13.15% |
| Since launch (CAGR) | +16.55% | +13.98% |
| SIP return (XIRR, 5 years) ⓘ | — | +12.21% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| ITI Focused | JM Focused | |
|---|---|---|
| 2026 (year to date) | +0.44% | +2.07% |
| 2025 | +9.68% | −0.33% |
| 2024 | +26.87% | +26.10% |
| 2023 | — | +34.05% |
| 2022 | — | +7.94% |
| 2021 | — | +17.62% |
Risk
| ITI Focused | JM Focused | |
|---|---|---|
| Volatility (annualised) ⓘ | 16.40% | 17.27% |
| Downside volatility ⓘ | 11.07% | 11.94% |
| Sharpe ratio ⓘ | 0.58 | 0.37 |
| Sortino ratio ⓘ | 0.86 | 0.54 |
| Maximum drawdown ⓘ | −18.44% | −37.37% |
| Recovery from that fall | 4 months | 9 months |
| Current fall from peak | −5.86% | −3.02% |
| Rolling 1-year return: worst | −3.23% | −32.25% |
| Rolling 1-year return: median | +11.52% | +12.79% |
| Rolling 1-year return: best | +52.44% | +92.20% |
| Share of 1-year periods with a loss | 2.04% | 21.74% |
Against each fund's benchmark
| ITI Focused | JM Focused | |
|---|---|---|
| Beta ⓘ | 1.03 | 1.05 |
| Alpha (Jensen's, annualised) ⓘ | +5.06% | +0.88% |
| R² ⓘ | 91.86 | 88.71 |
| Upside capture | 116.37% | 110.50% |
| Downside capture | 93.76% | 110.80% |
| Tracking error | 4.84% | 5.91% |
| Information ratio | 1.16 | 0.15 |
| Treynor ratio | 9.01 | 4.37 |
Portfolio
Asset mix
| ITI Focused | JM Focused | |
|---|---|---|
| Equity | 93.05% | 94.17% |
| Cash & equivalents | 6.95% | 5.84% |
Market-cap split (share of fund assets)
| ITI Focused | JM Focused | |
|---|---|---|
| Large Cap | 51.36% | 43.96% |
| Mid Cap | 18.60% | 23.25% |
| Small Cap | 23.09% | 25.79% |
| Unclassified | 0.00% | 1.15% |
Concentration
| ITI Focused | JM Focused | |
|---|---|---|
| Top 10 holdings | 42.83% | 43.75% |
| Effective number of stocks ⓘ | 30.5 | 28.4 |
| Securities held | 29 | 27 |
Portfolio overlap: 8.6%
3 companies are held by both funds; by weight, 8.6% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | ITI Focused | JM Focused |
|---|---|---|
| Shriram Finance Limited | 3.21% | 3.45% |
| Larsen & Toubro Limited | 2.83% | 4.53% |
| HDFC Bank Limited | 4.09% | 2.59% |
Top 10 holdings
ITI Focused
- ICICI Bank Limited5.03%
- KRN Heat Exchanger And Refrigeration Limited4.76%
- Wockhardt Ltd.4.66%
- Multi Commodity Exchange of India Limited4.34%
- Reliance Industries Limited4.20%
- Graphite India Ltd.4.17%
- HDFC Bank Limited4.09%
- Vedanta Aluminium Metal Limited4.05%
- Solar Industries India Limited4.00%
- MTAR Technologies Limited3.53%
JM Focused
- Ujjivan Small Finance Bank Limited5.05%
- Bajaj Finance Limited4.61%
- One 97 Communications Limited4.60%
- Honasa Consumer Limited4.53%
- Larsen & Toubro Limited4.53%
- Samvardhana Motherson International Limited4.17%
- Lodha Developers Limited4.15%
- Eternal Limited4.09%
- Onesource Specialty Pharma Limited4.04%
- IDFC First Bank Limited3.98%
Sector exposure
| ITI Focused | JM Focused | |
|---|---|---|
| Banks | 14.95% | 11.62% |
| Industrial Products | 14.75% | 0.00% |
| Auto Components | 3.24% | 10.13% |
| Finance | 3.21% | 8.05% |
| Pharmaceuticals & Biotechnology | 7.95% | 4.04% |
| Consumer Durables | 2.88% | 7.55% |
| Capital Markets | 4.34% | 6.60% |
| Chemicals & Petrochemicals | 6.46% | 2.41% |
| Financial Technology (Fintech) | 0.00% | 4.60% |
| Construction | 2.83% | 4.53% |
| Personal Products | 0.00% | 4.53% |
| Petroleum Products | 4.20% | 0.00% |
| Realty | 2.69% | 4.15% |
| Retailing | 0.00% | 4.09% |
Questions people ask
What is the difference between ITI Focused and JM Focused returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +3.20% vs +1.00%; 3-year CAGR +15.98% vs +12.92%; 5-year CAGR — vs +11.87%; 10-year CAGR — vs +13.15%. Past returns do not indicate future returns.
How do ITI Focused and JM Focused compare on risk?
Volatility (36 monthly returns, annualised) 16.40% vs 17.27%; Sharpe ratio 0.58 vs 0.37; Sortino ratio 0.86 vs 0.54; maximum drawdown −18.44% vs −37.37%; beta 1.03 vs 1.05.
How much do ITI Focused and JM Focused overlap?
By weight, 8.6% of the two portfolios is invested in the same companies; 3 stocks are held by both, the largest shared positions being Shriram Finance Limited, Larsen & Toubro Limited, HDFC Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of ITI Focused and JM Focused?
ITI Focused: large cap 51.4%, mid cap 18.6%, small cap 23.1%. JM Focused: large cap 44.0%, mid cap 23.3%, small cap 25.8% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
More comparisons
ITI Focused vs
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.