Baroda BNP Paribas Business Conglomerates Fund vs JM Large Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Baroda BNP Paribas Business Conglomerates Fund is a Thematic fund and JM Large Cap Fund is a Large Cap fund. In the year to 30-10-2026, Baroda BNP Paribas Business Conglomerates Fund (Direct) returned −6.8% and JM Large Cap Fund (Direct) returned −5.7%. Baroda BNP Paribas Business Conglomerates Fund charges 0.93% a year and JM Large Cap Fund 1.19% (Direct plans). Their portfolios overlap 37.4%: they hold 19 of the same securities.
Baroda BNP Paribas Business Conglomerates Fund
Thematic
- 1 year return
- −6.8%
- Expense ratio
- 0.93%
- NAV
- ₹9.54
Which is better, Baroda BNP Paribas Business Conglomerates or JM Large Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JM Large Cap returned more over 1 year: −5.7% against −6.8%.
- Baroda BNP Paribas Business Conglomerates costs less: 0.93% a year against 1.19% (Direct plans).
- JM Large Cap fell less in its worst fall since 25-09-2025: −14.5% against −14.7%.
- Baroda BNP Paribas Business Conglomerates is the larger fund: ₹579 Cr against ₹356 Cr.
- Their portfolios overlap 37.4%: 19 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 | Baroda BNP Paribas Business Conglomerates Fund | JM Large Cap Fund |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | JM Financial Mutual Fund |
| Category | Thematic | Large Cap |
| AUM | ₹579 Cr (30-09-2026) | ₹356 Cr (30-09-2026) |
| NAV | ₹9.54 (Direct) | ₹171.67 (Direct) |
| Expense ratio (Direct) | 0.93% | 1.19% |
| Expense ratio (Regular) | 2.50% | 2.67% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | BSE 100 TRI |
| Launch date | Not available | 01-04-1995 |
| Minimum investment | Not available | ₹1,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Deepak Gupta, Asit Bhandarkar, Satish Ramanathan, Ruchi Fozdar |
| Exit load | Not available | Exit load of 1%, if redeemed within 30 days. |
Baroda BNP Paribas Business Conglomerates vs JM Large Cap: 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 |
|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Business Conglomerates Fund (Direct) | −0.73% | −6.82% | −3.57% | −6.80% | -- | -- | -- |
| JM Large Cap Fund (Direct) | +0.56% | −3.71% | +0.05% | −5.72% | +10.48% | +9.46% | +11.44% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
Category average: the average of the 235 Thematic funds and the 35 Large Cap funds, same plan type.
Baroda BNP Paribas Business Conglomerates vs JM Large Cap: Year-wise Returns
| Year | Baroda BNP Paribas Business ConglomeratesBaroda BNP Paribas Business Conglomerates | JM Large CapJM Large Cap |
|---|---|---|
| 2026to date | −8.32% | −6.23% |
| 2025 | -- | +5.51% |
| 2024 | -- | +16.81% |
| 2023 | -- | +30.52% |
| 2022 | -- | +4.17% |
| 2021 | -- | +24.56% |
Baroda BNP Paribas Business Conglomerates vs JM Large Cap: Rolling Returns
Every holding period of both funds, against Nifty Conglomerate 50 TRI, the benchmark of Baroda BNP Paribas Business Conglomerates Fund
Rolling returns
Every 1-year holding period, 22 of them, one for each trading day from 25-09-2026 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.
Baroda BNP Paribas Business Conglomerates Fund (Direct)
JM Large Cap Fund (Direct)
Nifty Conglomerate 50 TRI
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Business Conglomerates | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −6.0% | −6.2% | −8.6% | −1.1% | 0% |
| JM Large Cap | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −4.6% | −4.7% | −8.4% | −0.5% | 0% |
| Nifty Conglomerate 50 TRI | 81.8 | 18.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −2.9% | −2.9% | −7.3% | 2.6% | -- |
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 Conglomerate 50 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 25-09-2025. Past returns do not promise future returns.
Baroda BNP Paribas Business Conglomerates vs JM Large Cap: 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 25-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Baroda BNP Paribas Business ConglomeratesBaroda BNP Paribas Business Conglomerates Fund (Direct) | ₹1,40,000 | ₹1,33,666 | −₹6,334 | −7.3% |
| JM Large CapJM Large Cap Fund (Direct) | ₹1,40,000 | ₹1,37,014 | −₹2,986 | −3.4% |
Baroda BNP Paribas Business ConglomeratesBaroda BNP Paribas Business Conglomerates Fund (Direct)
JM Large CapJM Large Cap 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.
Baroda BNP Paribas Business Conglomerates vs JM Large Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Baroda BNP Paribas Business Conglomerates Fund (Direct) | JM Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.80% | −5.72% |
| Standard deviation | 15.02% | 14.51% |
| Sharpe ratio | -0.80 | -0.76 |
| Sortino ratio | -1.07 | -1.01 |
| Maximum drawdown | −14.7% (30-03-2026) | −14.5% (31-03-2026) |
| Beta | 0.85 | 1.02 |
| Alpha | −2.98% | +3.51% |
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 | Baroda BNP Paribas Business Conglomerates Fund (Direct) | JM Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.31% | +11.86% |
| Standard deviation | 14.40% | 13.37% |
| Sharpe ratio | -0.67 | 0.43 |
| Sortino ratio | -0.89 | 0.60 |
| Maximum drawdown | −14.7% (30-03-2026) | −19.8% (28-02-2025) |
| Beta | 0.84 | 0.77 |
| Alpha | −4.13% | +1.17% |
From daily NAVs, 25-09-2025 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.
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.
Baroda BNP Paribas Business Conglomerates Fund (Direct)
JM Large Cap Fund (Direct)
Nifty Conglomerate 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas Business Conglomerates Fund (Direct) | −14.7% | 02-01-2026 | 30-03-2026 | 05-08-2026 | 4 months | −9.5% |
| JM Large Cap Fund (Direct) | −14.5% | 02-01-2026 | 31-03-2026 | Not yet | -- | −7.4% |
| Nifty Conglomerate 50 TRI | −16.2% | 02-01-2026 | 30-03-2026 | 31-07-2026 | 4 months | −10.6% |
From daily values since 25-09-2025, 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.
Baroda BNP Paribas Business Conglomerates Fund (Direct)
JM Large Cap Fund (Direct)
Nifty Conglomerate 50 TRI
Against Nifty Conglomerate 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas Business Conglomerates Fund (Direct) | 73% | 91% | 4.96% |
| JM Large Cap Fund (Direct) | 73% | 76% | 6.87% |
From month-end values since 25-09-2025. 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.
Baroda BNP Paribas Business Conglomerates vs JM Large Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas Business Conglomerates Fund, September 2026; JM Large Cap Fund, September 2026
Holdings in common
- Overlap
- 37.4%
- Held by both
- 19
- Only in Baroda BNP Paribas Business Conglomerates
- 25
- Only in JM Large Cap
- 30
| Security | % of Baroda BNP Paribas Business Conglomerates | % of JM Large Cap |
|---|---|---|
| Reliance Industries Limited | 4.71% | 3.36% |
| Larsen & Toubro Limited | 7.79% | 2.90% |
| Bajaj Finance Limited | 5.22% | 2.79% |
| Titan Company Limited | 4.28% | 2.50% |
| Torrent Pharmaceuticals Limited | 2.49% | 2.80% |
| Mahindra & Mahindra Limited | 7.34% | 2.47% |
| Adani Ports and Special Economic Zone Limited | 2.33% | 2.88% |
| TVS Motor Company Limited | 2.13% | 2.25% |
| The Indian Hotels Company Limited | 1.93% | 1.96% |
| Bajaj Auto Limited | 3.38% | 1.84% |
| UltraTech Cement Limited | 3.73% | 1.80% |
| Tech Mahindra Limited | 2.37% | 1.76% |
| State Bank of India | 1.66% | 4.56% |
| Eternal Limited | 1.64% | 2.03% |
| Zydus Lifesciences Limited | 1.61% | 1.44% |
| LTM Limited | 1.51% | 1.32% |
| Adani Enterprises Limited | 1.30% | 1.16% |
| CG Power and Industrial Solutions Limited | 1.33% | 1.10% |
| Bharti Airtel Limited | 0.76% | 3.88% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.4% means 37.4% 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 Baroda BNP Paribas Business Conglomerates Fund
| Security | % of fund |
|---|---|
| JSW Steel Limited | 3.12% |
| Hindustan Zinc Limited | 2.93% |
| Tata Consultancy Services Limited | 2.87% |
| Tata Power Company Limited | 2.79% |
| 6.79% Government of India (07/10/2034) | 2.53% |
Largest holdings only in JM Large Cap Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 3.56% |
| Kotak Mahindra Bank Limited | 3.15% |
| Axis Bank Limited | 2.88% |
| Apollo Hospitals Enterprise Limited | 2.70% |
| HDFC Bank Limited | 2.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Baroda BNP Paribas Business Conglomerates | JM Large Cap |
|---|---|---|
| Equity | 96.4% | 95.8% |
| Debt | 2.5% | 0.0% |
| Cash and others | 1.1% | 4.2% |
Market cap of stocks
| Market cap | Baroda BNP Paribas Business Conglomerates | JM Large Cap |
|---|---|---|
| Large Cap | 75.8% | 81.1% |
| Mid Cap | 11.4% | 13.5% |
| Small Cap | 9.2% | 0.1% |
| Not on AMFI's list | 0.0% | 1.1% |
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 | Baroda BNP Paribas Business Conglomerates | JM Large Cap |
|---|---|---|
| Banks | 3.5% | 16.9% |
| Automobiles | 12.8% | 8.3% |
| Finance | 11.7% | 5.2% |
| Consumer Durables | 8.1% | 2.5% |
| Construction | 7.8% | 2.9% |
| IT - Software | 7.6% | 4.2% |
| Pharmaceuticals & Biotechnology | 6.3% | 6.3% |
| Capital Markets | 0.0% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas Business Conglomerates vs JM Large Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas Business Conglomerates Fund | JM Large Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 1.19% |
| Base expense ratio (Direct) | 0.72% | 0.82% |
| Total expense ratio (Regular) | 2.50% | 2.67% |
| Base expense ratio (Regular) | 2.05% | 2.10% |
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
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Baroda BNP Paribas Business Conglomerates Fund vs JM Large Cap Fund: Frequently Asked Questions
What is the difference between Baroda BNP Paribas Business Conglomerates Fund and JM Large Cap Fund?
Baroda BNP Paribas Business Conglomerates Fund is a Thematic fund, JM Large Cap Fund is a Large Cap fund, run by Baroda BNP Paribas Mutual Fund and JM Financial Mutual Fund. Their portfolios overlap 37.4%. Baroda BNP Paribas Business Conglomerates Fund charges 0.93% a year and JM Large Cap Fund 1.19%.
Which has given higher returns, Baroda BNP Paribas Business Conglomerates Fund or JM Large Cap Fund?
Over 1 year: Baroda BNP Paribas Business Conglomerates Fund −6.80%, JM Large Cap Fund −5.72%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Baroda BNP Paribas Business Conglomerates Fund or JM Large Cap Fund?
Baroda BNP Paribas Business Conglomerates Fund charges less: 0.93% a year against 1.19%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Baroda BNP Paribas Business Conglomerates Fund and JM Large Cap Fund overlap?
37.4%. They hold 19 of the same securities, the largest shared ones being RELIANCE, LT, BAJFINANCE. From each fund's latest monthly portfolio.
Can I invest in both Baroda BNP Paribas Business Conglomerates Fund and JM Large Cap Fund?
Yes. 37.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.