DSP Large & Mid Cap Fund vs DSP Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Large & Mid Cap Fund is a Large & Mid Cap fund and DSP Midcap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, DSP Large & Mid Cap Fund (Direct) returned 12.9% a year and DSP Midcap Fund (Direct) returned 12.6% a year. DSP Large & Mid Cap Fund charges 0.75% a year and DSP Midcap Fund 0.85% (Direct plans). Their portfolios overlap 42.5%: they hold 35 of the same securities.
DSP Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 12.9%
- Expense ratio
- 0.75%
- NAV
- ₹657.56
Which is better, DSP Large & Mid Cap or DSP Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Large & Mid Cap returned more over 5 years: 10.9% a year against 10.0%.
- DSP Large & Mid Cap returned more over 3 years: 12.9% a year against 12.6%.
- DSP Large & Mid Cap costs less: 0.75% a year against 0.85% (Direct plans).
- DSP Large & Mid Cap swung less over 3 years: a standard deviation of 14.1% a year against 15.6%.
- DSP Midcap fell less in its worst fall since 02-01-2013: −32.7% against −36.8%.
- DSP Large & Mid Cap holds more in large companies: 53.9% of the fund in large caps against 16.5%.
- DSP Midcap is the larger fund: ₹19,488 Cr against ₹17,284 Cr.
- Their portfolios overlap 42.5%: 35 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 Large & Mid Cap Fund | DSP Midcap Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | Large & Mid Cap | Mid Cap |
| AUM | ₹17,284 Cr (30-09-2026) | ₹19,488 Cr (30-09-2026) |
| NAV | ₹657.56 (Direct) | ₹160.02 (Direct) |
| Expense ratio (Direct) | 0.75% | 0.85% |
| Expense ratio (Regular) | 1.80% | 1.74% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty Midcap 150 TRI |
| Launch date | 16-05-2000 | 14-11-2006 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Rohit Singhania, Nilesh Aiya | Vinit Sambre, Abhishek Ghosh |
| 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 less than 12 months |
DSP Large & Mid Cap vs DSP 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 |
|---|---|---|---|---|---|---|---|
| DSP Large & Mid Cap Fund (Direct) | −0.40% | −6.74% | −3.41% | −6.95% | +12.91% | +10.91% | +13.65% |
| DSP Midcap Fund (Direct) | −3.32% | −7.62% | −3.16% | −4.38% | +12.62% | +9.98% | +12.99% |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
| 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.
DSP Large & Mid Cap vs DSP Midcap: Year-wise Returns
| Year | Large & Mid CapDSP Large & Mid Cap | MidcapDSP Midcap |
|---|---|---|
| 2026to date | −9.06% | −3.90% |
| 2025 | +8.22% | +2.68% |
| 2024 | +25.11% | +23.60% |
| 2023 | +33.75% | +39.75% |
| 2022 | +5.37% | −3.97% |
| 2021 | +32.44% | +29.58% |
DSP Large & Mid Cap vs DSP Midcap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of DSP Large & Mid Cap 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 Large & Mid Cap Fund (Direct)
DSP Midcap Fund (Direct)
NIFTY LargeMidcap 250 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 Large & Mid Cap | 1.8 | 5.0 | 4.6 | 17.5 | 31.0 | 30.5 | 9.7 | 17.5% | 18.4% | −5.3% | 32.5% | 48% |
| DSP Midcap | 1.6 | 2.7 | 7.6 | 17.1 | 34.3 | 24.3 | 12.4 | 18.2% | 18.5% | −4.1% | 44.3% | 44% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 3.0 | 12.6 | 38.3 | 35.1 | 11.1 | 19.5% | 19.5% | 5.5% | 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 02-01-2013. Past returns do not promise future returns.
DSP Large & Mid Cap vs DSP 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Large & Mid CapDSP Large & Mid Cap Fund (Direct) | ₹16,60,000 | ₹50,04,072 | ₹33,44,072 | 14.8% |
| DSP MidcapDSP Midcap Fund (Direct) | ₹16,60,000 | ₹51,81,456 | ₹35,21,456 | 15.2% |
DSP Large & Mid CapDSP Large & Mid Cap Fund (Direct)
DSP MidcapDSP 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.
DSP Large & Mid Cap vs DSP Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Large & Mid Cap Fund (Direct) | DSP Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.95% | −4.38% |
| Standard deviation | 13.87% | 15.68% |
| Sharpe ratio | -0.88 | -0.61 |
| Sortino ratio | -1.19 | -0.84 |
| Maximum drawdown | −14.0% (31-03-2026) | −12.5% (23-03-2026) |
| Beta | 0.90 | 0.92 |
| Alpha | −1.59% | −0.76% |
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 Large & Mid Cap Fund (Direct) | DSP Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.91% | +12.62% |
| Standard deviation | 14.10% | 15.64% |
| Sharpe ratio | 0.49 | 0.42 |
| Sortino ratio | 0.66 | 0.57 |
| Maximum drawdown | −16.9% (03-03-2025) | −21.2% (28-02-2025) |
| Beta | 0.92 | 0.89 |
| Alpha | +1.80% | −0.31% |
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 Large & Mid Cap Fund (Direct) | DSP Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.91% | +9.98% |
| Standard deviation | 13.88% | 15.03% |
| Sharpe ratio | 0.37 | 0.28 |
| Sortino ratio | 0.49 | 0.37 |
| Maximum drawdown | −18.8% (20-06-2022) | −21.5% (20-06-2022) |
| Beta | 0.91 | 0.87 |
| Alpha | +0.74% | −2.79% |
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 Large & Mid Cap Fund (Direct) | DSP Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.25% | +16.01% |
| Standard deviation | 15.71% | 15.94% |
| Sharpe ratio | 0.59 | 0.62 |
| Sortino ratio | 0.79 | 0.84 |
| Maximum drawdown | −36.8% (23-03-2020) | −32.7% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Large & Mid Cap Fund (Direct)
DSP 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 |
|---|---|---|---|---|---|---|
| DSP Large & Mid Cap Fund (Direct) | −36.8% | 24-01-2020 | 23-03-2020 | 11-11-2020 | 8 months | −10.0% |
| DSP Midcap Fund (Direct) | −32.7% | 20-02-2020 | 23-03-2020 | 25-08-2020 | 5 months | −10.4% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
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 Large & Mid Cap Fund (Direct)
DSP 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.
DSP Large & Mid Cap Fund (Direct)
DSP 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.
DSP Large & Mid Cap Fund (Direct)
DSP Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Large & Mid Cap Fund (Direct) | 95% | 92% | 4.00% |
| DSP Midcap Fund (Direct) | 97% | 97% | 5.99% |
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 Large & Mid Cap vs DSP Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Large & Mid Cap Fund, September 2026; DSP Midcap Fund, September 2026
Holdings in common
- Overlap
- 42.5%
- Held by both
- 35
- Only in DSP Large & Mid Cap
- 34
- Only in DSP Midcap
- 29
| Security | % of DSP Large & Mid Cap | % of DSP Midcap |
|---|---|---|
| Phoenix Mills Limited | 2.14% | 2.73% |
| Bharti Airtel Limited | 2.13% | 2.03% |
| Max Financial Services Limited | 1.98% | 2.48% |
| ICICI Bank Limited | 8.44% | 1.91% |
| Coromandel International Limited | 1.86% | 2.29% |
| Coforge Limited | 1.77% | 4.07% |
| Alkem Laboratories Limited | 1.96% | 1.71% |
| Uno Minda Limited | 1.96% | 1.66% |
| IPCA Laboratories Limited | 1.60% | 2.84% |
| Fortis Healthcare Limited | 1.59% | 2.53% |
| APL Apollo Tubes Limited | 1.59% | 2.34% |
| Schaeffler India Limited | 1.44% | 2.10% |
| Indus Towers Limited | 1.74% | 1.39% |
| Federal Bank Limited | 1.39% | 2.56% |
| Bharat Forge Limited | 1.30% | 2.51% |
| Eternal Limited | 1.29% | 1.95% |
| Hindustan Petroleum Corporation Limited | 1.52% | 1.26% |
| Samvardhana Motherson International Limited | 1.21% | 1.50% |
| Jindal Steel Limited | 1.19% | 2.17% |
| Mphasis Limited | 1.16% | 1.61% |
| SRF Limited | 1.51% | 1.14% |
| Oil India Limited | 1.53% | 1.13% |
| AU Small Finance Bank Limited | 1.08% | 1.71% |
| Tube Investments of India Limited | 1.02% | 1.57% |
| Oberoi Realty Limited | 1.18% | 0.98% |
| Mahindra & Mahindra Limited | 1.35% | 0.91% |
| Shriram Finance Limited | 0.89% | 0.97% |
| PI Industries Limited | 0.79% | 0.79% |
| PB Fintech Limited | 0.72% | 1.02% |
| Vishal Mega Mart Limited | 0.63% | 1.33% |
| Atul Limited | 0.58% | 0.94% |
| J.K. Cement Limited | 0.52% | 1.87% |
| Emami Limited | 0.75% | 0.35% |
| Syngene International Limited | 0.75% | 0.30% |
| Supreme Industries Limited | 0.01% | 2.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.5% means 42.5% 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 Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 7.81% |
| Axis Bank Limited | 5.88% |
| State Bank of India | 3.18% |
| Kotak Mahindra Bank Limited | 2.49% |
| ICICI Lombard General Insurance Co Limited | 1.56% |
Largest holdings only in DSP Midcap Fund
| Security | % of fund |
|---|---|
| Multi Commodity Exchange Of India Limited | 3.31% |
| Cholamandalam Investment and Finance Co Limited | 2.44% |
| Kirloskar Oil Engines Limited | 2.02% |
| Voltas Limited | 2.00% |
| Nippon Life India Asset Management Limited | 1.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Large & Mid Cap | DSP Midcap |
|---|---|---|
| Equity | 98.4% | 95.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.6% | 4.6% |
Market cap of stocks
| Market cap | DSP Large & Mid Cap | DSP Midcap |
|---|---|---|
| Large Cap | 53.9% | 16.5% |
| Mid Cap | 39.8% | 67.5% |
| Small Cap | 4.7% | 11.4% |
| Not on AMFI's list | 0.1% | 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 Large & Mid Cap | DSP Midcap |
|---|---|---|
| Banks | 30.3% | 7.5% |
| Auto Components | 6.9% | 11.2% |
| Industrial Products | 1.6% | 8.7% |
| Pharmaceuticals & Biotechnology | 7.1% | 5.0% |
| IT - Software | 5.4% | 6.5% |
| Finance | 2.7% | 5.9% |
| Capital Markets | 0.0% | 5.2% |
| Insurance | 5.0% | 2.5% |
| Telecom - Services | 3.9% | 3.4% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Large & Mid Cap vs DSP Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Large & Mid Cap Fund | DSP Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.75% | 0.85% |
| Base expense ratio (Direct) | 0.51% | 0.66% |
| Total expense ratio (Regular) | 1.80% | 1.74% |
| Base expense ratio (Regular) | 1.40% | 1.42% |
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 Large & Mid Cap with
DSP Large & Mid Cap Fund vs DSP Midcap Fund: Frequently Asked Questions
What is the difference between DSP Large & Mid Cap Fund and DSP Midcap Fund?
DSP Large & Mid Cap Fund is a Large & Mid Cap fund, DSP Midcap Fund is a Mid Cap fund, run by DSP Mutual Fund. Their portfolios overlap 42.5%. DSP Large & Mid Cap Fund charges 0.75% a year and DSP Midcap Fund 0.85%.
Which has given higher returns, DSP Large & Mid Cap Fund or DSP Midcap Fund?
Over 1 year: DSP Large & Mid Cap Fund −6.95%, DSP Midcap Fund −4.38%. Over 3 years: DSP Large & Mid Cap Fund +12.91% a year, DSP Midcap Fund +12.62% a year. Over 5 years: DSP Large & Mid Cap Fund +10.91% a year, DSP Midcap Fund +9.98% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Large & Mid Cap Fund or DSP Midcap Fund?
DSP Large & Mid Cap Fund charges less: 0.75% a year against 0.85%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Large & Mid Cap Fund and DSP Midcap Fund overlap?
42.5%. They hold 35 of the same securities, the largest shared ones being PHOENIXLTD, BHARTIARTL, MFSL. From each fund's latest monthly portfolio.
Which is riskier, DSP Large & Mid Cap Fund or DSP Midcap Fund?
On SEBI's riskometer, DSP Large & Mid Cap Fund is rated Very High and DSP Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.10% and 15.64% a year.
Which is better for SIP, DSP Large & Mid Cap Fund or DSP Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,85,919 in DSP Large & Mid Cap Fund (XIRR 9.9% a year) and ₹7,91,450 in DSP Midcap Fund (XIRR 10.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Large & Mid Cap Fund and DSP Midcap Fund?
Yes. 42.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP Large & Mid Cap Fund and DSP Midcap Fund?
DSP Large & Mid Cap Fund: Rohit Singhania, Nilesh Aiya. DSP Midcap Fund: Vinit Sambre, Abhishek Ghosh.
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.