Axis Large & Mid Cap Fund vs Axis Midcap Fund
Direct Plan, Growth option · Data as on 29-10-2026
Axis Large & Mid Cap Fund is a Large & Mid Cap fund and Axis Midcap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, Axis Large & Mid Cap Fund (Direct) returned 14.9% a year and Axis Midcap Fund (Direct) returned 16.1% a year. Axis Large & Mid Cap Fund charges 0.83% a year and Axis Midcap Fund 0.80% (Direct plans). Their portfolios overlap 45.3%: they hold 53 of the same securities.
Axis Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 14.9%
- Expense ratio
- 0.83%
- NAV
- ₹37.20
Which is better, Axis Large & Mid Cap or Axis Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Midcap returned more over 5 years: 11.9% a year against 11.0%.
- Axis Midcap returned more over 3 years: 16.1% a year against 14.9%.
- Axis Midcap costs less: 0.80% a year against 0.83% (Direct plans).
- Axis Large & Mid Cap swung less over 3 years: a standard deviation of 13.4% a year against 14.9%.
- Axis Midcap fell less in its worst fall since 26-10-2018: −29.4% against −31.9%.
- Axis Large & Mid Cap holds 6.7% of the fund in foreign stocks; Axis Midcap 0.0%.
- Axis Large & Mid Cap holds more in large companies: 46.0% of the fund in large caps against 17.2%.
- Axis Midcap is the larger fund: ₹33,528 Cr against ₹16,438 Cr.
- Their portfolios overlap 45.3%: 53 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 Large & Mid Cap Fund | Axis Midcap Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Axis Mutual Fund |
| Category | Large & Mid Cap | Mid Cap |
| AUM | ₹16,438 Cr (30-09-2026) | ₹33,528 Cr (30-09-2026) |
| NAV | ₹37.20 (Direct) | ₹136.47 (Direct) |
| Expense ratio (Direct) | 0.83% | 0.80% |
| Expense ratio (Regular) | 1.87% | 1.79% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | BSE Midcap 150 TRI |
| Launch date | 22-10-2018 | 18-02-2011 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Shreyash Devalkar, Hitesh Das, Mayank Hyanki, Krishnaa N | Shreyash Devalkar, Krishnaa N, Nitin Arora |
| Exit load | Nil | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 3 months. |
Axis Large & Mid Cap vs Axis Midcap: 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 Large & Mid Cap Fund (Direct) | −0.96% | −2.80% | +1.64% | −0.29% | +14.92% | +10.98% | -- |
| Axis Midcap Fund (Direct) | −0.88% | −3.34% | +1.83% | +1.29% | +16.07% | +11.88% | +16.96% |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | +12.95% | +14.07% |
Category average: the average of the 36 Large & Mid Cap funds and the 34 Mid Cap funds, same plan type.
Axis Large & Mid Cap vs Axis Midcap: Year-wise Returns
| Year | Large & Mid CapAxis Large & Mid Cap | MidcapAxis Midcap |
|---|---|---|
| 2026to date | +0.79% | +3.33% |
| 2025 | +5.25% | +2.04% |
| 2024 | +26.97% | +31.39% |
| 2023 | +32.47% | +31.00% |
| 2022 | −7.58% | −3.86% |
| 2021 | +46.68% | +41.78% |
Axis Large & Mid Cap vs Axis Midcap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of Axis Large & Mid Cap Fund
Rolling returns
Every 3-year holding period, 1,243 of them, one for each trading day from 26-10-2021 to 29-10-2026: 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 Large & Mid Cap Fund (Direct)
Axis Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Mar 2022Jan 2020
to
Jan 2023Dec 2020
to
Dec 2023Oct 2021
to
Oct 2024Aug 2022
to
Aug 2025Jun 2023
to
Jun 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Large & Mid Cap | 0.0 | 0.0 | 0.0 | 5.9 | 34.4 | 38.0 | 21.8 | 21.2% | 20.8% | 11.7% | 31.6% | 44% |
| Axis Midcap | 0.0 | 0.0 | 0.0 | 1.4 | 34.6 | 44.0 | 20.0 | 21.5% | 21.0% | 13.1% | 30.9% | 59% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 7.6 | 39.8 | 39.9 | 12.7 | 20.6% | 20.3% | 10.1% | 36.1% | -- |
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. The benchmark is NIFTY LargeMidcap 250 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 26-10-2018. Past returns do not promise future returns.
Axis Large & Mid Cap vs Axis Midcap: 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 26-10-2018 to 29-10-2026: 97 instalments, ₹9,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Large & Mid CapAxis Large & Mid Cap Fund (Direct) | ₹9,70,000 | ₹19,07,238 | ₹9,37,238 | 16.3% |
| Axis MidcapAxis Midcap Fund (Direct) | ₹9,70,000 | ₹19,50,197 | ₹9,80,197 | 16.8% |
Axis Large & Mid CapAxis Large & Mid Cap Fund (Direct)
Axis MidcapAxis Midcap 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 Large & Mid Cap vs Axis Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Large & Mid Cap Fund (Direct) | Axis Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.29% | +1.29% |
| Standard deviation | 14.09% | 14.84% |
| Sharpe ratio | -0.39 | -0.27 |
| Sortino ratio | -0.53 | -0.36 |
| Maximum drawdown | −12.3% (30-03-2026) | −11.1% (23-03-2026) |
| Beta | 0.93 | 0.88 |
| Alpha | +5.44% | +5.24% |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 Large & Mid Cap Fund (Direct) | Axis Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.92% | +16.07% |
| Standard deviation | 13.42% | 14.86% |
| Sharpe ratio | 0.66 | 0.68 |
| Sortino ratio | 0.91 | 0.93 |
| Maximum drawdown | −17.2% (07-04-2025) | −19.5% (28-02-2025) |
| Beta | 0.87 | 0.83 |
| Alpha | +3.91% | +3.78% |
From daily NAVs, 27-10-2023 to 29-10-2026. 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 Large & Mid Cap Fund (Direct) | Axis Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.98% | +11.88% |
| Standard deviation | 13.62% | 14.48% |
| Sharpe ratio | 0.38 | 0.42 |
| Sortino ratio | 0.51 | 0.56 |
| Maximum drawdown | −21.1% (20-06-2022) | −20.0% (20-06-2022) |
| Beta | 0.86 | 0.83 |
| Alpha | +0.98% | −0.04% |
From daily NAVs, 29-10-2021 to 29-10-2026. 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 Large & Mid Cap Fund (Direct) | Axis Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.80% | +18.05% |
| Standard deviation | 14.46% | 14.76% |
| Sharpe ratio | 0.87 | 0.81 |
| Sortino ratio | 1.18 | 1.10 |
| Maximum drawdown | −31.9% (23-03-2020) | −29.4% (23-03-2020) |
| Beta | 0.78 | 0.84 |
| Alpha | +4.44% | +2.97% |
From daily NAVs, 26-10-2018 to 29-10-2026. 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 Large & Mid Cap Fund (Direct)
Axis Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Large & Mid Cap Fund (Direct) | −31.9% | 13-02-2020 | 23-03-2020 | 24-08-2020 | 5 months | −6.3% |
| Axis Midcap Fund (Direct) | −29.4% | 20-02-2020 | 23-03-2020 | 26-08-2020 | 5 months | −6.5% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
From daily values since 26-10-2018, 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 Large & Mid Cap Fund (Direct)
Axis Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
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 Large & Mid Cap Fund (Direct)
Axis Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
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 Large & Mid Cap Fund (Direct)
Axis Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Large & Mid Cap Fund (Direct) | 95% | 77% | 6.76% |
| Axis Midcap Fund (Direct) | 99% | 82% | 6.36% |
From month-end values since 26-10-2018. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis Large & Mid Cap vs Axis Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Large & Mid Cap Fund, September 2026; Axis Midcap Fund, September 2026
Holdings in common
- Overlap
- 45.3%
- Held by both
- 53
- Only in Axis Large & Mid Cap
- 35
- Only in Axis Midcap
- 32
| Security | % of Axis Large & Mid Cap | % of Axis Midcap |
|---|---|---|
| Sona BLW Precision Forgings Limited | 2.44% | 2.69% |
| Eternal Limited | 2.68% | 2.06% |
| GE Vernova T&D India Limited | 1.92% | 2.41% |
| Apar Industries Limited | 1.79% | 2.84% |
| ICICI Bank Limited | 4.43% | 1.71% |
| Bharat Heavy Electricals Limited | 1.67% | 1.94% |
| Multi Commodity Exchange of India Limited | 2.01% | 1.62% |
| Coforge Limited | 1.45% | 1.52% |
| Fortis Healthcare Limited | 1.42% | 2.61% |
| Bajaj Finance Limited | 1.28% | 1.35% |
| Radico Khaitan Limited | 1.27% | 1.79% |
| The Federal Bank Limited | 1.24% | 3.98% |
| The Phoenix Mills Limited | 1.16% | 2.29% |
| The Indian Hotels Company Limited | 1.09% | 2.38% |
| Solar Industries India Limited | 1.09% | 1.86% |
| BSE Limited | 1.30% | 1.03% |
| Ather Energy Limited | 1.02% | 1.13% |
| SRF Limited | 1.01% | 1.03% |
| InterGlobe Aviation Limited | 0.99% | 1.00% |
| TVS Motor Company Limited | 0.98% | 1.07% |
| FSN E-Commerce Ventures Limited | 0.93% | 1.68% |
| AU Small Finance Bank Limited | 0.93% | 1.23% |
| Page Industries Limited | 0.91% | 0.91% |
| Premier Energies Limited | 0.82% | 1.34% |
| Gland Pharma Limited | 0.95% | 0.78% |
| UNO Minda Limited | 0.77% | 1.55% |
| Supreme Industries Limited | 0.74% | 0.97% |
| Cummins India Limited | 0.73% | 1.67% |
| Torrent Pharmaceuticals Limited | 0.83% | 0.72% |
| Lenskart Solutions Limited | 0.71% | 2.22% |
| PB Fintech Limited | 0.69% | 1.44% |
| Mphasis Limited | 0.80% | 0.66% |
| Sundaram Finance Limited | 0.73% | 0.65% |
| Schaeffler India Limited | 0.64% | 1.52% |
| Vishal Mega Mart Limited | 0.54% | 1.04% |
| Torrent Power Limited | 0.54% | 1.18% |
| Blue Star Limited | 0.53% | 0.53% |
| Cholamandalam Investment and Finance Company Ltd | 0.87% | 0.49% |
| Anthem Biosciences Limited | 0.56% | 0.47% |
| Marico Limited | 0.43% | 1.58% |
| Voltas Limited | 0.46% | 0.42% |
| Coromandel International Limited | 0.42% | 0.97% |
| Billionbrains Garage Ventures Ltd | 0.40% | 0.69% |
| Bharat Forge Limited | 0.38% | 1.88% |
| CG Power and Industrial Solutions Limited | 0.33% | 0.87% |
| IndusInd Bank Limited | 1.37% | 0.29% |
| Mahindra & Mahindra Financial Services Limited | 0.63% | 0.27% |
| TD Power Systems Limited | 1.13% | 0.25% |
| Swiggy Limited | 0.80% | 0.23% |
| Amber Enterprises India Limited | 0.67% | 0.22% |
| RBL Bank Limited | 1.29% | 0.11% |
| Aditya Infotech Limited | 0.05% | 0.17% |
| Indo-MIM Limited | 0.02% | 1.23% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.3% means 45.3% 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 Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 3.38% |
| Divi's Laboratories Limited | 2.76% |
| Bharti Airtel Limited | 2.28% |
| Reliance Industries Limited | 2.19% |
| Axis Bank Limited | 2.03% |
Largest holdings only in Axis Midcap Fund
| Security | % of fund |
|---|---|
| IPCA Laboratories Limited | 2.30% |
| Dixon Technologies (India) Limited | 1.57% |
| Alkem Laboratories Limited | 1.37% |
| Info Edge (India) Limited | 1.12% |
| JK Cement Limited | 1.10% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Large & Mid Cap | Axis Midcap |
|---|---|---|
| Equity | 96.8% | 90.2% |
| Debt | 0.2% | 0.0% |
| Cash and others | 3.0% | 9.8% |
Market cap of stocks
| Market cap | Axis Large & Mid Cap | Axis Midcap |
|---|---|---|
| Large Cap | 46.0% | 17.2% |
| Mid Cap | 35.3% | 65.3% |
| Small Cap | 7.4% | 5.3% |
| Foreign stocks | 6.7% | 0.0% |
| Not on AMFI's list | 1.5% | 2.3% |
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 Large & Mid Cap | Axis Midcap |
|---|---|---|
| Banks | 15.8% | 7.7% |
| Auto Components | 7.2% | 10.1% |
| Electrical Equipment | 8.1% | 9.7% |
| Retailing | 5.7% | 9.5% |
| Pharmaceuticals & Biotechnology | 6.9% | 7.2% |
| Finance | 5.5% | 3.9% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Large & Mid Cap vs Axis Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Large & Mid Cap Fund | Axis Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.83% | 0.80% |
| Base expense ratio (Direct) | 0.55% | 0.50% |
| Total expense ratio (Regular) | 1.87% | 1.79% |
| Base expense ratio (Regular) | 1.44% | 1.33% |
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 Large & Mid Cap with
Axis Large & Mid Cap Fund vs Axis Midcap Fund: Frequently Asked Questions
What is the difference between Axis Large & Mid Cap Fund and Axis Midcap Fund?
Axis Large & Mid Cap Fund is a Large & Mid Cap fund, Axis Midcap Fund is a Mid Cap fund, run by Axis Mutual Fund. Their portfolios overlap 45.3%. Axis Large & Mid Cap Fund charges 0.83% a year and Axis Midcap Fund 0.80%.
Which has given higher returns, Axis Large & Mid Cap Fund or Axis Midcap Fund?
Over 1 year: Axis Large & Mid Cap Fund −0.29%, Axis Midcap Fund +1.29%. Over 3 years: Axis Large & Mid Cap Fund +14.92% a year, Axis Midcap Fund +16.07% a year. Over 5 years: Axis Large & Mid Cap Fund +10.98% a year, Axis Midcap Fund +11.88% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Large & Mid Cap Fund or Axis Midcap Fund?
Axis Midcap Fund charges less: 0.80% a year against 0.83%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Large & Mid Cap Fund and Axis Midcap Fund overlap?
45.3%. They hold 53 of the same securities, the largest shared ones being SONACOMS, ETERNAL, GVT&D. From each fund's latest monthly portfolio.
Which is riskier, Axis Large & Mid Cap Fund or Axis Midcap Fund?
On SEBI's riskometer, Axis Large & Mid Cap Fund is rated Very High and Axis Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 13.42% and 14.86% a year.
Which is better for SIP, Axis Large & Mid Cap Fund or Axis Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 29-10-2026 grew to ₹8,25,305 in Axis Large & Mid Cap Fund (XIRR 11.9% a year) and ₹8,45,078 in Axis Midcap Fund (XIRR 12.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Large & Mid Cap Fund and Axis Midcap Fund?
Yes. 45.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Large & Mid Cap Fund and Axis Midcap Fund?
Axis Large & Mid Cap Fund: Shreyash Devalkar, Hitesh Das, Mayank Hyanki, Krishnaa N. Axis Midcap Fund: Shreyash Devalkar, Krishnaa N, Nitin Arora.
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.