DSP Focused Fund vs DSP Large Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Focused Fund is a Focused fund and DSP Large Cap Fund is a Large Cap fund. In the 3 years to 30-10-2026, DSP Focused Fund (Direct) returned 12.9% a year and DSP Large Cap Fund (Direct) returned 10.9% a year. DSP Focused Fund charges 1.10% a year and DSP Large Cap Fund 1.18% (Direct plans). Their portfolios overlap 41.5%: they hold 11 of the same securities.
Which is better, DSP Focused or DSP 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.
- DSP Focused returned more over 5 years: 10.0% a year against 9.1%.
- DSP Focused returned more over 3 years: 12.9% a year against 10.9%.
- DSP Focused costs less: 1.10% a year against 1.18% (Direct plans).
- DSP Large Cap swung less over 3 years: a standard deviation of 12.2% a year against 14.3%.
- DSP Focused fell less in its worst fall since 02-01-2013: −39.3% against −40.3%.
- DSP Large Cap holds more in large companies: 90.3% of the fund in large caps against 54.4%.
- DSP Large Cap is the larger fund: ₹6,642 Cr against ₹2,503 Cr.
- Their portfolios overlap 41.5%: 11 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 | DSP Focused Fund | DSP Large Cap Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | Focused | Large Cap |
| AUM | ₹2,503 Cr (30-09-2026) | ₹6,642 Cr (30-09-2026) |
| NAV | ₹59.57 (Direct) | ₹484.71 (Direct) |
| Expense ratio (Direct) | 1.10% | 1.18% |
| Expense ratio (Regular) | 2.11% | 2.07% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 100 TRI |
| Launch date | 10-06-2010 | 10-03-2003 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Bhavin Gandhi | Anish Tawakley |
| Exit load | Exit load of 1%, if redeemed within 1 month. | Exit load of 1% if redeemed less than 12 months |
DSP Focused vs DSP 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 |
|---|---|---|---|---|---|---|---|
| DSP Focused Fund (Direct) | −0.27% | −4.92% | +1.21% | −4.40% | +12.91% | +10.04% | +11.47% |
| DSP Large Cap Fund (Direct) | +1.48% | −4.89% | −2.57% | −8.56% | +10.95% | +9.10% | +10.38% |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | +10.21% | +13.15% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
Category average: the average of the 28 Focused funds and the 35 Large Cap funds, same plan type.
DSP Focused vs DSP Large Cap: Year-wise Returns
| Year | FocusedDSP Focused | Large CapDSP Large Cap |
|---|---|---|
| 2026to date | −5.42% | −9.39% |
| 2025 | +8.50% | +9.40% |
| 2024 | +19.79% | +21.50% |
| 2023 | +35.59% | +27.60% |
| 2022 | −3.43% | +2.24% |
| 2021 | +23.57% | +20.45% |
DSP Focused vs DSP Large Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of DSP Focused Fund
Rolling returns
Every 3-year holding period, 2,668 of them, one for each trading day from 04-01-2016 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.
DSP Focused Fund (Direct)
DSP Large Cap Fund (Direct)
Nifty 500 TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Focused | 2.1 | 4.6 | 14.4 | 28.6 | 34.7 | 13.4 | 2.2 | 14.5% | 15.1% | −6.6% | 29.3% | 41% |
| DSP Large Cap | 2.5 | 4.6 | 21.6 | 32.4 | 31.2 | 7.4 | 0.3 | 12.8% | 12.6% | −7.4% | 28.1% | 19% |
| Nifty 500 TRI | 1.9 | 4.3 | 7.8 | 37.1 | 34.7 | 11.3 | 2.9 | 14.7% | 14.9% | −6.3% | 33.5% | -- |
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 500 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 02-01-2013. Past returns do not promise future returns.
DSP Focused vs DSP 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP FocusedDSP Focused Fund (Direct) | ₹16,60,000 | ₹42,36,674 | ₹25,76,674 | 12.6% |
| DSP Large CapDSP Large Cap Fund (Direct) | ₹16,60,000 | ₹37,64,683 | ₹21,04,683 | 11.1% |
DSP FocusedDSP Focused Fund (Direct)
DSP Large CapDSP 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.
DSP Focused vs DSP Large Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Focused Fund (Direct) | DSP Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.40% | −8.56% |
| Standard deviation | 14.01% | 12.79% |
| Sharpe ratio | -0.69 | -1.08 |
| Sortino ratio | -0.95 | -1.45 |
| Maximum drawdown | −15.3% (23-03-2026) | −13.3% (31-03-2026) |
| Beta | 0.93 | 0.89 |
| Alpha | +2.10% | −1.34% |
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 | DSP Focused Fund (Direct) | DSP Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.91% | +10.95% |
| Standard deviation | 14.32% | 12.19% |
| Sharpe ratio | 0.48 | 0.40 |
| Sortino ratio | 0.66 | 0.57 |
| Maximum drawdown | −15.8% (28-02-2025) | −13.3% (31-03-2026) |
| Beta | 0.95 | 0.86 |
| Alpha | +2.88% | +2.30% |
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 | DSP Focused Fund (Direct) | DSP Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.04% | +9.10% |
| Standard deviation | 13.95% | 12.66% |
| Sharpe ratio | 0.30 | 0.26 |
| Sortino ratio | 0.41 | 0.36 |
| Maximum drawdown | −20.7% (20-06-2022) | −18.7% (17-06-2022) |
| Beta | 0.91 | 0.87 |
| Alpha | +1.49% | +2.07% |
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 | DSP Focused Fund (Direct) | DSP Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.72% | +11.06% |
| Standard deviation | 16.21% | 16.29% |
| Sharpe ratio | 0.41 | 0.31 |
| Sortino ratio | 0.56 | 0.42 |
| Maximum drawdown | −39.3% (23-03-2020) | −40.3% (23-03-2020) |
| Beta | 0.97 | 0.99 |
| Alpha | +0.11% | −0.84% |
From daily NAVs, 02-01-2013 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.
DSP Focused Fund (Direct)
DSP Large Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Focused Fund (Direct) | −39.3% | 17-01-2020 | 23-03-2020 | 23-11-2020 | 8 months | −6.8% |
| DSP Large Cap Fund (Direct) | −40.3% | 12-02-2020 | 23-03-2020 | 03-12-2020 | 8 months | −9.8% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 02-01-2013, 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.
DSP Focused Fund (Direct)
DSP Large Cap Fund (Direct)
Nifty 500 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.
DSP Focused Fund (Direct)
DSP Large Cap Fund (Direct)
Nifty 500 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.
DSP Focused Fund (Direct)
DSP Large Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Focused Fund (Direct) | 99% | 96% | 5.44% |
| DSP Large Cap Fund (Direct) | 94% | 97% | 4.78% |
From month-end values since 02-01-2013. 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.
DSP Focused vs DSP Large Cap: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Focused Fund, September 2026; DSP Large Cap Fund, September 2026
Holdings in common
- Overlap
- 41.5%
- Held by both
- 11
- Only in DSP Focused
- 18
- Only in DSP Large Cap
- 30
| Security | % of DSP Focused | % of DSP Large Cap |
|---|---|---|
| ICICI Bank Limited | 9.46% | 9.72% |
| HDFC Bank Limited | 8.87% | 10.08% |
| Axis Bank Limited | 5.05% | 5.91% |
| Bharti Airtel Limited | 3.90% | 6.04% |
| Mahindra & Mahindra Limited | 3.78% | 4.84% |
| SBI Life Insurance Co Limited | 3.81% | 2.78% |
| Infosys Limited | 2.25% | 3.99% |
| Hero MotoCorp Limited | 2.74% | 2.12% |
| Petronet LNG Limited | 1.88% | 1.39% |
| Bharat Petroleum Corporation Limited | 2.57% | 1.07% |
| State Bank of India | 3.17% | 0.79% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.5% means 41.5% 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 DSP Focused Fund
| Security | % of fund |
|---|---|
| Phoenix Mills Limited | 3.75% |
| Cholamandalam Investment and Finance Co Limited | 3.35% |
| Coromandel International Limited | 3.01% |
| Kirloskar Oil Engines Limited | 2.73% |
| Coforge Limited | 2.63% |
Largest holdings only in DSP Large Cap Fund
| Security | % of fund |
|---|---|
| Larsen & Toubro Limited | 4.74% |
| Reliance Industries Limited | 4.06% |
| ITC Limited | 3.97% |
| NTPC Limited | 3.08% |
| Cipla Limited | 2.76% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Focused | DSP Large Cap |
|---|---|---|
| Equity | 88.6% | 98.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 11.4% | 2.0% |
Market cap of stocks
| Market cap | DSP Focused | DSP Large Cap |
|---|---|---|
| Large Cap | 54.4% | 90.3% |
| Mid Cap | 20.3% | 7.7% |
| Small Cap | 13.9% | 0.0% |
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 | DSP Focused | DSP Large Cap |
|---|---|---|
| Banks | 26.6% | 29.3% |
| Automobiles | 6.5% | 11.1% |
| IT - Software | 7.2% | 4.0% |
| Insurance | 3.8% | 7.1% |
| Telecom - Services | 3.9% | 6.5% |
| Capital Markets | 6.3% | 0.0% |
| Realty | 5.9% | 2.2% |
| Petroleum Products | 2.6% | 5.8% |
| Finance | 5.6% | 0.0% |
| Construction | 0.0% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Focused vs DSP Large Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Focused Fund | DSP Large Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.10% | 1.18% |
| Base expense ratio (Direct) | 0.85% | 0.79% |
| Total expense ratio (Regular) | 2.11% | 2.07% |
| Base expense ratio (Regular) | 1.71% | 1.55% |
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 DSP Focused with
DSP Focused Fund vs DSP Large Cap Fund: Frequently Asked Questions
What is the difference between DSP Focused Fund and DSP Large Cap Fund?
DSP Focused Fund is a Focused fund, DSP Large Cap Fund is a Large Cap fund, run by DSP Mutual Fund. Their portfolios overlap 41.5%. DSP Focused Fund charges 1.10% a year and DSP Large Cap Fund 1.18%.
Which has given higher returns, DSP Focused Fund or DSP Large Cap Fund?
Over 1 year: DSP Focused Fund −4.40%, DSP Large Cap Fund −8.56%. Over 3 years: DSP Focused Fund +12.91% a year, DSP Large Cap Fund +10.95% a year. Over 5 years: DSP Focused Fund +10.04% a year, DSP Large Cap Fund +9.10% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Focused Fund or DSP Large Cap Fund?
DSP Focused Fund charges less: 1.10% a year against 1.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Focused Fund and DSP Large Cap Fund overlap?
41.5%. They hold 11 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, DSP Focused Fund or DSP Large Cap Fund?
On SEBI's riskometer, DSP Focused Fund is rated Very High and DSP Large Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.32% and 12.19% a year.
Which is better for SIP, DSP Focused Fund or DSP Large Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,86,293 in DSP Focused Fund (XIRR 9.9% a year) and ₹7,52,112 in DSP Large Cap Fund (XIRR 8.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Focused Fund and DSP Large Cap Fund?
Yes. 41.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP Focused Fund and DSP Large Cap Fund?
DSP Focused Fund: Bhavin Gandhi. DSP Large Cap Fund: Anish Tawakley.
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.