Axis Equity Savings Fund vs Union Equity Savings Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Equity Savings Fund and Union Equity Savings Fund are both Equity Savings funds. In the 3 years to 30-10-2026, Axis Equity Savings Fund (Direct) returned 9.4% a year and Union Equity Savings Fund (Direct) returned 6.6% a year. Axis Equity Savings Fund charges 1.56% a year and Union Equity Savings Fund 2.11% (Direct plans). Their portfolios overlap 26.0%: they hold 33 of the same securities.
Axis Equity Savings Fund
Equity Savings
- 3 year return
- 9.4%
- Expense ratio
- 1.56%
- NAV
- ₹26.35
Union Equity Savings Fund
Equity Savings
- 3 year return
- 6.6%
- Expense ratio
- 2.11%
- NAV
- ₹17.94
Which is better, Axis Equity Savings or Union Equity Savings? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Equity Savings returned more over 5 years: 7.5% a year against 5.7%.
- Axis Equity Savings returned more over 3 years: 9.4% a year against 6.6%.
- Axis Equity Savings costs less: 1.56% a year against 2.11% (Direct plans).
- Union Equity Savings swung less over 3 years: a standard deviation of 4.7% a year against 5.2%.
- Union Equity Savings fell less in its worst fall since 17-08-2018: −14.4% against −17.6%.
- Axis Equity Savings is the larger fund: ₹855 Cr against ₹114 Cr.
- Their portfolios overlap 26.0%: 33 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 | Axis Equity Savings Fund | Union Equity Savings Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Union Mutual Fund |
| Category | Equity Savings | Equity Savings |
| AUM | ₹855 Cr (30-09-2026) | ₹114 Cr (30-09-2026) |
| NAV | ₹26.35 (Direct) | ₹17.94 (Direct) |
| Expense ratio (Direct) | 1.56% | 2.11% |
| Expense ratio (Regular) | 2.70% | 2.60% |
| Riskometer | Moderately High | Moderately High |
| Benchmark | Nifty Equity Savings Index | CRISIL Equity Savings Index (TRI)# #CRISIL Benchmark Disclaimer: CRISIL Indices are the sole property of CRISIL Limited |
| Launch date | 14-08-2015 | 09-08-2018 |
| Minimum investment | ₹500 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Mayank Hyanki, Devang Shah, Hardik Shah, Krishnaa N | Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. | Exit load of 1%, if redeemed within 15 days. |
Axis Equity Savings vs Union Equity Savings: 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 |
|---|---|---|---|---|---|---|---|
| Axis Equity Savings Fund (Direct) | +0.46% | −0.79% | +3.05% | +2.69% | +9.39% | +7.51% | +9.30% |
| Union Equity Savings Fund (Direct) | −0.44% | −1.10% | +1.18% | +0.67% | +6.60% | +5.74% | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
Category average: the average of the 23 Equity Savings funds, same plan type.
Axis Equity Savings vs Union Equity Savings: Year-wise Returns
| Year | AxisAxis Equity Savings | UnionUnion Equity Savings |
|---|---|---|
| 2026to date | +1.82% | +0.39% |
| 2025 | +6.68% | +5.49% |
| 2024 | +12.42% | +8.94% |
| 2023 | +16.08% | +12.03% |
| 2022 | +1.14% | +2.36% |
| 2021 | +14.88% | +9.35% |
Axis Equity Savings vs Union Equity Savings: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,289 of them, one for each trading day from 17-08-2021 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.
Axis Equity Savings Fund (Direct)
Union Equity Savings Fund (Direct)
to
Jan 2022Dec 2019
to
Dec 2022Oct 2020
to
Oct 2023Sept 2021
to
Sept 2024Jul 2022
to
Jul 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Equity Savings | 0.0 | 0.0 | 25.6 | 74.3 | 0.1 | 0.0 | 0.0 | 10.9% | 10.9% | 7.9% | 15.1% |
| Union Equity Savings | 0.0 | 0.0 | 89.4 | 10.6 | 0.0 | 0.0 | 0.0 | 8.5% | 8.4% | 6.3% | 12.7% |
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. Every fund is measured over the days all of them have, from 17-08-2018. Past returns do not promise future returns.
Axis Equity Savings vs Union Equity Savings: 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 01-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Equity SavingsAxis Equity Savings Fund (Direct) | ₹9,90,000 | ₹14,53,831 | ₹4,63,831 | 9.1% |
| Union Equity SavingsUnion Equity Savings Fund (Direct) | ₹9,90,000 | ₹13,18,876 | ₹3,28,876 | 6.8% |
Axis Equity SavingsAxis Equity Savings Fund (Direct)
Union Equity SavingsUnion Equity Savings Fund (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.
Axis Equity Savings vs Union Equity Savings: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Equity Savings Fund (Direct) | Union Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.69% | +0.67% |
| Standard deviation | 5.02% | 5.27% |
| Sharpe ratio | -0.51 | -0.87 |
| Sortino ratio | -0.68 | -1.15 |
| Maximum drawdown | −4.7% (30-03-2026) | −4.5% (30-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Axis Equity Savings Fund (Direct) | Union Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.39% | +6.60% |
| Standard deviation | 5.21% | 4.70% |
| Sharpe ratio | 0.65 | 0.12 |
| Sortino ratio | 0.88 | 0.16 |
| Maximum drawdown | −5.2% (28-02-2025) | −4.5% (30-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Axis Equity Savings Fund (Direct) | Union Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.51% | +5.74% |
| Standard deviation | 5.58% | 4.59% |
| Sharpe ratio | 0.31 | -0.01 |
| Sortino ratio | 0.41 | -0.02 |
| Maximum drawdown | −8.7% (17-06-2022) | −5.8% (17-06-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Axis Equity Savings Fund (Direct) | Union Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.02% | +7.35% |
| Standard deviation | 6.78% | 5.70% |
| Sharpe ratio | 0.51 | 0.37 |
| Sortino ratio | 0.69 | 0.49 |
| Maximum drawdown | −17.6% (23-03-2020) | −14.4% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 20-08-2015 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.
Axis Equity Savings Fund (Direct)
Union Equity Savings Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Equity Savings Fund (Direct) | −17.6% | 19-02-2020 | 23-03-2020 | 08-10-2020 | 7 months | −1.8% |
| Union Equity Savings Fund (Direct) | −14.4% | 19-02-2020 | 23-03-2020 | 13-07-2020 | 4 months | −2.1% |
From daily values since 17-08-2018, 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.
Axis Equity Savings Fund (Direct)
Union Equity Savings Fund (Direct)
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.
Axis Equity Savings Fund (Direct)
Union Equity Savings Fund (Direct)
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.
Axis Equity Savings Fund (Direct)
Union Equity Savings Fund (Direct)
Axis Equity Savings vs Union Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Equity Savings Fund, September 2026; Union Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 26.0%
- Held by both
- 33
- Only in Axis Equity Savings
- 77
- Only in Union Equity Savings
- 48
| Security | % of Axis Equity Savings | % of Union Equity Savings |
|---|---|---|
| HDFC Bank Limited | 5.23% | 4.85% |
| ICICI Bank Limited | 6.88% | 3.63% |
| Bharti Airtel Limited | 2.44% | 2.65% |
| Kotak Mahindra Bank Limited | 3.19% | 2.37% |
| Reliance Industries Limited | 6.41% | 2.33% |
| Mahindra & Mahindra Limited | 1.84% | 1.04% |
| Bajaj Finance Limited | 0.99% | 3.04% |
| Tata Steel Limited | 2.99% | 0.98% |
| Infosys Limited | 1.01% | 0.89% |
| State Bank of India | 0.83% | 1.18% |
| RBL Bank Limited | 1.03% | 0.51% |
| IndusInd Bank Limited | 0.69% | 0.50% |
| Eternal Limited | 0.65% | 0.47% |
| Larsen & Toubro Limited | 1.88% | 0.40% |
| Bharat Heavy Electricals Limited | 0.49% | 0.38% |
| NTPC Limited | 0.37% | 2.65% |
| Torrent Pharmaceuticals Limited | 0.34% | 0.58% |
| Oil India Limited | 0.37% | 0.32% |
| Sun Pharmaceutical Industries Limited | 1.57% | 0.27% |
| UltraTech Cement Limited | 0.42% | 0.27% |
| Crompton Greaves Consumer Electricals Limited | 0.27% | 0.67% |
| Glenmark Pharmaceuticals Limited | 0.25% | 1.62% |
| Shriram Finance Limited | 0.24% | 0.42% |
| Hindalco Industries Limited | 0.19% | 0.87% |
| CG Power and Industrial Solutions Limited | 0.19% | 0.60% |
| Jindal Steel Limited | 0.99% | 0.18% |
| Hindustan Unilever Limited | 0.17% | 0.51% |
| Solar Industries India Limited | 0.13% | 0.52% |
| Maruti Suzuki India Limited | 0.09% | 0.57% |
| Bharat Electronics Limited | 0.03% | 0.22% |
| Mphasis Limited | 0.03% | 0.44% |
| Godrej Properties Limited | 0.03% | 0.33% |
| One 97 Communications Limited | 0.03% | 0.65% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 26.0% means 26.0% 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 Axis Equity Savings Fund
| Security | % of fund |
|---|---|
| 7.18% Government of India (14/08/2033) | 4.69% |
| Axis Money Market Fund - Direct Plan - Growth Option | 3.08% |
| Cholamandalam Investment and Finance Company Ltd (27/02/2029) (FRN) | 2.93% |
| 7.1% Government of India (08/04/2034) | 2.45% |
| Hindustan Aeronautics Limited | 1.98% |
Largest holdings only in Union Equity Savings Fund
| Security | % of fund |
|---|---|
| National Bank for Agriculture and Rural Development | 8.69% |
| Patanjali Foods Ltd. | 4.81% |
| 91 Day Treasury Bills | 4.37% |
| Indian Railway Finance Corporation Ltd. | 4.26% |
| Indus Towers Ltd. | 3.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Equity Savings | Union Equity Savings |
|---|---|---|
| Equity | 66.6% | 69.5% |
| Debt | 20.1% | 26.3% |
| Cash and others | 13.3% | 4.2% |
Market cap of stocks
| Market cap | Axis Equity Savings | Union Equity Savings |
|---|---|---|
| Large Cap | 52.4% | 42.8% |
| Mid Cap | 5.5% | 14.4% |
| Small Cap | 8.0% | 11.5% |
| Not on AMFI's list | 0.7% | 0.8% |
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 | Axis Equity Savings | Union Equity Savings |
|---|---|---|
| Banks | 20.7% | 16.4% |
| Petroleum Products | 6.4% | 3.2% |
| Telecom - Services | 2.9% | 6.3% |
| Agricultural Food & other Products | 0.0% | 5.4% |
| Pharmaceuticals & Biotechnology | 4.9% | 4.4% |
| Ferrous Metals | 4.0% | 1.2% |
| Power | 0.8% | 3.5% |
| Finance | 2.0% | 3.5% |
| Automobiles | 2.5% | 2.1% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Equity Savings vs Union Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Equity Savings Fund | Union Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.56% | 2.11% |
| Base expense ratio (Direct) | 0.99% | 1.25% |
| Total expense ratio (Regular) | 2.70% | 2.60% |
| Base expense ratio (Regular) | 1.95% | 1.66% |
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
Compare Axis Equity Savings with
Axis Equity Savings Fund vs Union Equity Savings Fund: Frequently Asked Questions
What is the difference between Axis Equity Savings Fund and Union Equity Savings Fund?
Both are Equity Savings funds, run by Axis Mutual Fund and Union Mutual Fund. Their portfolios overlap 26.0%. Axis Equity Savings Fund charges 1.56% a year and Union Equity Savings Fund 2.11%.
Which has given higher returns, Axis Equity Savings Fund or Union Equity Savings Fund?
Over 1 year: Axis Equity Savings Fund +2.69%, Union Equity Savings Fund +0.67%. Over 3 years: Axis Equity Savings Fund +9.39% a year, Union Equity Savings Fund +6.60% a year. Over 5 years: Axis Equity Savings Fund +7.51% a year, Union Equity Savings Fund +5.74% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Equity Savings Fund or Union Equity Savings Fund?
Axis Equity Savings Fund charges less: 1.56% a year against 2.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Equity Savings Fund and Union Equity Savings Fund overlap?
26.0%. They hold 33 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Axis Equity Savings Fund or Union Equity Savings Fund?
On SEBI's riskometer, Axis Equity Savings Fund is rated Moderately High and Union Equity Savings Fund Moderately High. Over 3 years, the standard deviation of daily returns was 5.21% and 4.70% a year.
Which is better for SIP, Axis Equity Savings Fund or Union Equity Savings Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,47,225 in Axis Equity Savings Fund (XIRR 7.9% a year) and ₹7,05,439 in Union Equity Savings Fund (XIRR 5.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Equity Savings Fund and Union Equity Savings Fund?
Yes. 26.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Equity Savings Fund and Union Equity Savings Fund?
Axis Equity Savings Fund: Mayank Hyanki, Devang Shah, Hardik Shah, Krishnaa N. Union Equity Savings Fund: Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal.
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.