Axis Large & Mid Cap Fund vs Union Large & Midcap Fund
Direct Plan, Growth option · Data as on 29-10-2026
Axis Large & Mid Cap Fund and Union Large & Midcap Fund are both Large & Mid Cap funds. In the 3 years to 30-10-2026, Axis Large & Mid Cap Fund (Direct) returned 14.9% a year and Union Large & Midcap Fund (Direct) returned 12.4% a year. Axis Large & Mid Cap Fund charges 0.83% a year and Union Large & Midcap Fund 1.32% (Direct plans). Their portfolios overlap 47.3%: they hold 42 of the same securities.
Axis Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 14.9%
- Expense ratio
- 0.83%
- NAV
- ₹37.20
Union Large & Midcap Fund
Large & Mid Cap
- 3 year return
- 12.4%
- Expense ratio
- 1.32%
- NAV
- ₹28.14
Which is better, Axis Large & Mid Cap or Union Large & 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 Large & Mid Cap returned more over 5 years: 11.0% a year against 10.3%.
- Axis Large & Mid Cap returned more over 3 years: 14.9% a year against 12.4%.
- Axis Large & Mid Cap costs less: 0.83% a year against 1.32% (Direct plans).
- Axis Large & Mid Cap swung less over 3 years: a standard deviation of 13.4% a year against 15.3%.
- Axis Large & Mid Cap fell less in its worst fall since 13-12-2019: −31.9% against −35.6%.
- Axis Large & Mid Cap holds 6.7% of the fund in foreign stocks; Union Large & Midcap 0.0%.
- Axis Large & Mid Cap is the larger fund: ₹16,438 Cr against ₹969 Cr.
- Their portfolios overlap 47.3%: 42 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 | Union Large & Midcap Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Union Mutual Fund |
| Category | Large & Mid Cap | Large & Mid Cap |
| AUM | ₹16,438 Cr (30-09-2026) | ₹969 Cr (30-09-2026) |
| NAV | ₹37.20 (Direct) | ₹28.14 (Direct) |
| Expense ratio (Direct) | 0.83% | 1.32% |
| Expense ratio (Regular) | 1.87% | 2.53% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 22-10-2018 | 06-12-2019 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Shreyash Devalkar, Hitesh Das, Mayank Hyanki, Krishnaa N | Vinod Malviya, Pratik Dharmshi |
| Exit load | Nil | Exit load of 1%, if redeemed within 15 days. |
Axis Large & Mid Cap vs Union Large & 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% | -- |
| Union Large & Midcap Fund (Direct) | −1.54% | −2.90% | +2.96% | −0.74% | +12.37% | +10.31% | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
Axis Large & Mid Cap vs Union Large & Midcap: Year-wise Returns
| Year | Axis Large & Mid CapAxis Large & Mid Cap | Union Large & MidcapUnion Large & Midcap | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | +0.79% | −0.07% | −6.82% |
| 2025 | +5.25% | +3.57% | +8.19% |
| 2024 | +26.97% | +22.26% | +18.68% |
| 2023 | +32.47% | +28.33% | +32.66% |
| 2022 | −7.58% | −1.87% | +4.48% |
| 2021 | +46.68% | +40.05% | +37.04% |
Axis Large & Mid Cap vs Union Large & Midcap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 964 of them, one for each trading day from 13-12-2022 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)
Union Large & Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Apr 2023Dec 2020
to
Dec 2023Jul 2021
to
Jul 2024Mar 2022
to
Mar 2025Nov 2022
to
Nov 2025Jul 2023
to
Jul 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 | 7.6 | 42.5 | 36.7 | 13.2 | 20.1% | 20.0% | 11.7% | 31.2% | 30% |
| Union Large & Midcap | 0.0 | 0.0 | 0.0 | 16.9 | 45.5 | 26.7 | 10.9 | 18.9% | 18.3% | 11.0% | 33.3% | 6% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 8.1 | 42.1 | 33.6 | 16.2 | 20.7% | 19.9% | 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 13-12-2019. Past returns do not promise future returns.
Axis Large & Mid Cap vs Union Large & 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 02-12-2019 to 29-10-2026: 83 instalments, ₹8,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Large & Mid CapAxis Large & Mid Cap Fund (Direct) | ₹8,30,000 | ₹14,21,522 | ₹5,91,522 | 15.3% |
| Union Large & MidcapUnion Large & Midcap Fund (Direct) | ₹8,30,000 | ₹13,57,971 | ₹5,27,971 | 14.0% |
Axis Large & Mid CapAxis Large & Mid Cap Fund (Direct)
Union Large & MidcapUnion Large & 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 Union Large & 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) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.29% | −0.74% |
| Standard deviation | 14.09% | 15.51% |
| Sharpe ratio | -0.39 | -0.39 |
| Sortino ratio | -0.53 | -0.52 |
| Maximum drawdown | −12.3% (30-03-2026) | −12.6% (30-03-2026) |
| Beta | 0.93 | 1.01 |
| Alpha | +5.44% | +5.90% |
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) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.92% | +12.37% |
| Standard deviation | 13.42% | 15.31% |
| Sharpe ratio | 0.66 | 0.41 |
| Sortino ratio | 0.91 | 0.55 |
| Maximum drawdown | −17.2% (07-04-2025) | −18.7% (28-02-2025) |
| Beta | 0.87 | 1.01 |
| Alpha | +3.91% | +0.82% |
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) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.98% | +10.31% |
| Standard deviation | 13.62% | 14.63% |
| Sharpe ratio | 0.38 | 0.31 |
| Sortino ratio | 0.51 | 0.41 |
| Maximum drawdown | −21.1% (20-06-2022) | −19.6% (20-06-2022) |
| Beta | 0.86 | 0.96 |
| Alpha | +0.98% | −0.10% |
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) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.80% | +16.18% |
| Standard deviation | 14.46% | 17.07% |
| Sharpe ratio | 0.87 | 0.65 |
| Sortino ratio | 1.18 | 0.85 |
| Maximum drawdown | −31.9% (23-03-2020) | −35.6% (23-03-2020) |
| Beta | 0.78 | 0.96 |
| Alpha | +4.44% | +0.71% |
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)
Union Large & 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% |
| Union Large & Midcap Fund (Direct) | −35.6% | 20-02-2020 | 23-03-2020 | 15-09-2020 | 6 months | −6.6% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
From daily values since 13-12-2019, 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)
Union Large & 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)
Union Large & 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)
Union Large & 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) | 98% | 89% | 6.14% |
| Union Large & Midcap Fund (Direct) | 96% | 92% | 5.18% |
From month-end values since 13-12-2019. 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 Union Large & Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Large & Mid Cap Fund, September 2026; Union Large & Midcap Fund, September 2026
Holdings in common
- Overlap
- 47.3%
- Held by both
- 42
- Only in Axis Large & Mid Cap
- 46
- Only in Union Large & Midcap
- 39
| Security | % of Axis Large & Mid Cap | % of Union Large & Midcap |
|---|---|---|
| ICICI Bank Limited | 4.43% | 4.84% |
| HDFC Bank Limited | 3.38% | 2.86% |
| Eternal Limited | 2.68% | 2.28% |
| Bharti Airtel Limited | 2.28% | 2.32% |
| Axis Bank Limited | 2.03% | 2.20% |
| Multi Commodity Exchange of India Limited | 2.01% | 1.98% |
| Divi's Laboratories Limited | 2.76% | 1.58% |
| Shriram Finance Limited | 1.54% | 2.00% |
| Bharat Heavy Electricals Limited | 1.67% | 1.52% |
| Reliance Industries Limited | 2.19% | 1.50% |
| Sona BLW Precision Forgings Limited | 2.44% | 1.46% |
| Fortis Healthcare Limited | 1.42% | 1.57% |
| Larsen & Toubro Limited | 1.68% | 1.40% |
| Apar Industries Limited | 1.79% | 1.30% |
| The Federal Bank Limited | 1.24% | 1.51% |
| GE Vernova T&D India Limited | 1.92% | 1.21% |
| The Phoenix Mills Limited | 1.16% | 1.74% |
| State Bank of India | 1.12% | 1.19% |
| Solar Industries India Limited | 1.09% | 1.84% |
| InterGlobe Aviation Limited | 0.99% | 1.16% |
| Varun Beverages Limited | 0.95% | 0.94% |
| FSN E-Commerce Ventures Limited | 0.93% | 1.37% |
| Cholamandalam Investment and Finance Company Ltd | 0.87% | 0.84% |
| Torrent Pharmaceuticals Limited | 0.83% | 1.37% |
| Mphasis Limited | 0.80% | 1.44% |
| RBL Bank Limited | 1.29% | 0.79% |
| Bajaj Finance Limited | 1.28% | 0.78% |
| UNO Minda Limited | 0.77% | 1.79% |
| Cummins India Limited | 0.73% | 0.98% |
| Amber Enterprises India Limited | 0.67% | 0.90% |
| Schaeffler India Limited | 0.64% | 0.70% |
| BSE Limited | 1.30% | 0.58% |
| Tech Mahindra Limited | 0.56% | 0.79% |
| Maruti Suzuki India Limited | 0.53% | 1.19% |
| Coforge Limited | 1.45% | 0.51% |
| Persistent Systems Limited | 0.46% | 0.63% |
| Marico Limited | 0.43% | 1.32% |
| TVS Motor Company Limited | 0.98% | 0.42% |
| CG Power and Industrial Solutions Limited | 0.33% | 1.86% |
| KEI Industries Limited | 0.26% | 0.19% |
| Bharat Electronics Limited | 0.59% | 0.16% |
| Indo-MIM Limited | 0.02% | 2.64% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.3% means 47.3% 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 |
|---|---|
| Samvardhana Motherson International Limited | 1.60% |
| Minda Corporation Limited | 1.41% |
| IndusInd Bank Limited | 1.37% |
| Sun Pharmaceutical Industries Limited | 1.33% |
| Radico Khaitan Limited | 1.27% |
Largest holdings only in Union Large & Midcap Fund
| Security | % of fund |
|---|---|
| One 97 Communications Ltd. | 2.49% |
| JSW Infrastructure Ltd. | 2.07% |
| Jindal Steel Ltd. | 2.01% |
| Ajanta Pharma Ltd. | 1.81% |
| Max Financial Services Ltd. | 1.70% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Equity | 96.8% | 98.2% |
| Debt | 0.2% | 0.1% |
| Cash and others | 3.0% | 1.7% |
Market cap of stocks
| Market cap | Axis Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Large Cap | 46.0% | 44.0% |
| Mid Cap | 35.3% | 38.6% |
| Small Cap | 7.4% | 12.5% |
| Foreign stocks | 6.7% | 0.0% |
| Not on AMFI's list | 1.5% | 3.1% |
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 | Union Large & Midcap |
|---|---|---|
| Banks | 15.8% | 14.6% |
| Electrical Equipment | 8.1% | 6.7% |
| Pharmaceuticals & Biotechnology | 6.9% | 7.9% |
| Auto Components | 7.2% | 6.2% |
| Retailing | 5.7% | 5.2% |
| Finance | 5.5% | 4.6% |
| Chemicals & Petrochemicals | 3.0% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Large & Mid Cap vs Union Large & Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Large & Mid Cap Fund | Union Large & Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.83% | 1.32% |
| Base expense ratio (Direct) | 0.55% | 0.88% |
| Total expense ratio (Regular) | 1.87% | 2.53% |
| Base expense ratio (Regular) | 1.44% | 1.94% |
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 Union Large & Midcap Fund: Frequently Asked Questions
What is the difference between Axis Large & Mid Cap Fund and Union Large & Midcap Fund?
Both are Large & Mid Cap funds, run by Axis Mutual Fund and Union Mutual Fund. Their portfolios overlap 47.3%. Axis Large & Mid Cap Fund charges 0.83% a year and Union Large & Midcap Fund 1.32%.
Which has given higher returns, Axis Large & Mid Cap Fund or Union Large & Midcap Fund?
Over 1 year: Axis Large & Mid Cap Fund −0.29%, Union Large & Midcap Fund −0.74%. Over 3 years: Axis Large & Mid Cap Fund +14.92% a year, Union Large & Midcap Fund +12.37% a year. Over 5 years: Axis Large & Mid Cap Fund +10.98% a year, Union Large & Midcap Fund +10.31% 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 Union Large & Midcap Fund?
Axis Large & Mid Cap Fund charges less: 0.83% a year against 1.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Large & Mid Cap Fund and Union Large & Midcap Fund overlap?
47.3%. They hold 42 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, Axis Large & Mid Cap Fund or Union Large & Midcap Fund?
On SEBI's riskometer, Axis Large & Mid Cap Fund is rated Very High and Union Large & Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 13.42% and 15.31% a year.
Which is better for SIP, Axis Large & Mid Cap Fund or Union Large & 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 ₹7,97,153 in Union Large & Midcap Fund (XIRR 10.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Large & Mid Cap Fund and Union Large & Midcap Fund?
Yes. 47.3% 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 Union Large & Midcap Fund?
Axis Large & Mid Cap Fund: Shreyash Devalkar, Hitesh Das, Mayank Hyanki, Krishnaa N. Union Large & Midcap Fund: Vinod Malviya, Pratik Dharmshi.
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.