Franklin India Opportunities Fund vs JM Large & Mid Cap Fund
Direct Plan, Growth option · Data as on 29-10-2026
Franklin India Opportunities Fund is a Thematic fund and JM Large & Mid Cap Fund is a Large & Mid Cap fund. In the year to 30-10-2026, Franklin India Opportunities Fund (Direct) returned −4.5% and JM Large & Mid Cap Fund (Direct) returned −4.1%. Franklin India Opportunities Fund charges 0.88% a year and JM Large & Mid Cap Fund 1.04% (Direct plans). Their portfolios overlap 20.7%: they hold 13 of the same securities.
Franklin India Opportunities Fund
Thematic
- 1 year return
- −4.5%
- Expense ratio
- 0.88%
- NAV
- ₹279.87
JM Large & Mid Cap Fund
Large & Mid Cap
- 1 year return
- −4.1%
- Expense ratio
- 1.04%
- NAV
- ₹10.20
Which is better, Franklin India Opportunities or JM Large & Mid 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 & Mid Cap returned more over 1 year: −4.1% against −4.5%.
- Franklin India Opportunities costs less: 0.88% a year against 1.04% (Direct plans).
- Franklin India Opportunities fell less in its worst fall since 30-07-2025: −15.3% against −15.5%.
- Franklin India Opportunities holds 4.0% of the fund in foreign stocks; JM Large & Mid Cap 0.0%.
- JM Large & Mid Cap holds more in large companies: 40.1% of the fund in large caps against 30.1%.
- Franklin India Opportunities is the larger fund: ₹9,577 Cr against ₹448 Cr.
- Their portfolios overlap 20.7%: 13 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 | Franklin India Opportunities Fund | JM Large & Mid Cap Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | JM Financial Mutual Fund |
| Category | Thematic | Large & Mid Cap |
| AUM | ₹9,577 Cr (30-09-2026) | ₹448 Cr (30-09-2026) |
| NAV | ₹279.87 (Direct) | ₹10.20 (Direct) |
| Expense ratio (Direct) | 0.88% | 1.04% |
| Expense ratio (Regular) | 2.08% | 2.72% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty 500 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 21-02-2000 | 25-07-2025 |
| Minimum investment | 5000/1 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Kiran Sebastian, Janakiraman Rengaraju, Sandeep Manam | Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar |
| Exit load | Exit load of 1% if redeemed within 1 year | In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 180 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 180 days from the date of allotment. No Entry / Exit Load shall be levied on units allotted on Reinvestment of Income Distribution cum Capital Withdrawal Option In respect of Systematic Transactions such as SIP, STP, SWP, Exit Load, if any, prevailing on the date of registration / enrolment for SIP/STP/SWP shall be levied for all the opted Installments. |
Franklin India Opportunities vs JM Large & Mid 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Opportunities Fund (Direct) | −3.95% | −3.56% | +1.12% | −4.53% | +19.53% | +16.53% | +15.94% |
| JM Large & Mid Cap Fund (Direct) | −2.28% | −4.94% | +1.48% | −4.09% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | -- | -- | -- |
Category average: the average of the 235 Thematic funds and the 36 Large & Mid Cap funds, same plan type.
Franklin India Opportunities vs JM Large & Mid Cap: Year-wise Returns
| Year | Franklin India OpportunitiesFranklin India Opportunities | JM Large & Mid CapJM Large & Mid Cap |
|---|---|---|
| 2026to date | −2.61% | −2.61% |
| 2025 | +4.43% | -- |
| 2024 | +39.17% | -- |
| 2023 | +54.87% | -- |
| 2022 | −1.20% | -- |
| 2021 | +30.55% | -- |
Franklin India Opportunities vs JM Large & Mid Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Franklin India Opportunities Fund
Rolling returns
Every 1-year holding period, 63 of them, one for each trading day from 30-07-2026 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.
Franklin India Opportunities Fund (Direct)
JM Large & Mid Cap Fund (Direct)
Nifty 500 TRI
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India Opportunities | 19.0 | 38.1 | 42.9 | 0.0 | 0.0 | 0.0 | 0.0 | 3.4% | 4.3% | −7.8% | 9.8% | 100% |
| JM Large & Mid Cap | 19.4 | 29.0 | 35.5 | 16.1 | 0.0 | 0.0 | 0.0 | 4.9% | 5.4% | −5.3% | 12.0% | 100% |
| Nifty 500 TRI | 50.8 | 33.3 | 15.9 | 0.0 | 0.0 | 0.0 | 0.0 | −0.2% | −0.1% | −9.0% | 6.8% | -- |
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 30-07-2025. Past returns do not promise future returns.
Franklin India Opportunities vs JM Large & Mid 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 01-07-2025 to 29-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India OpportunitiesFranklin India Opportunities Fund (Direct) | ₹1,60,000 | ₹1,58,793 | −₹1,207 | −1.1% |
| JM Large & Mid CapJM Large & Mid Cap Fund (Direct) | ₹1,60,000 | ₹1,59,145 | −₹855 | −0.8% |
Franklin India OpportunitiesFranklin India Opportunities Fund (Direct)
JM Large & Mid CapJM Large & Mid 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.
Franklin India Opportunities vs JM Large & Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin India Opportunities Fund (Direct) | JM Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.53% | −4.09% |
| Standard deviation | 15.49% | 15.31% |
| Sharpe ratio | -0.63 | -0.61 |
| Sortino ratio | -0.84 | -0.82 |
| Maximum drawdown | −15.3% (30-03-2026) | −15.5% (31-03-2026) |
| Beta | 1.01 | 1.01 |
| Alpha | +3.15% | +2.47% |
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 | Franklin India Opportunities Fund (Direct) | JM Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.60% | +1.11% |
| Standard deviation | 15.99% | 14.32% |
| Sharpe ratio | 0.66 | -0.29 |
| Sortino ratio | 0.90 | -0.40 |
| Maximum drawdown | −39.3% (23-03-2020) | −15.5% (31-03-2026) |
| Beta | 0.96 | 1.00 |
| Alpha | +4.01% | +3.51% |
From daily NAVs, 01-01-2013 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.
Franklin India Opportunities Fund (Direct)
JM Large & Mid 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 |
|---|---|---|---|---|---|---|
| Franklin India Opportunities Fund (Direct) | −15.3% | 29-10-2025 | 30-03-2026 | 03-08-2026 | 4 months | −6.9% |
| JM Large & Mid Cap Fund (Direct) | −15.5% | 17-11-2025 | 31-03-2026 | 29-07-2026 | 4 months | −8.2% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 30-07-2025, 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.
Franklin India Opportunities Fund (Direct)
JM Large & Mid Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin India Opportunities Fund (Direct) | 106% | 90% | 6.09% |
| JM Large & Mid Cap Fund (Direct) | 118% | 96% | 4.23% |
From month-end values since 30-07-2025. 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.
Franklin India Opportunities vs JM Large & Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Opportunities Fund, September 2026; JM Large & Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 20.7%
- Held by both
- 13
- Only in Franklin India Opportunities
- 37
- Only in JM Large & Mid Cap
- 52
| Security | % of Franklin India Opportunities | % of JM Large & Mid Cap |
|---|---|---|
| One 97 Communications Ltd | 2.80% | 2.67% |
| Shriram Finance Ltd | 2.72% | 2.02% |
| HDFC Bank Ltd | 1.99% | 2.66% |
| State Bank of India | 1.98% | 2.14% |
| Reliance Industries Ltd | 2.67% | 1.89% |
| Aster DM Quality Care Ltd | 2.57% | 1.77% |
| TVS Motor Co Ltd | 3.18% | 1.48% |
| IDFC First Bank Ltd | 1.47% | 1.80% |
| Mankind Pharma Ltd | 3.98% | 1.42% |
| Hindustan Aeronautics Ltd | 6.74% | 1.31% |
| Honeywell Automation India Ltd | 1.21% | 0.97% |
| Interglobe Aviation Ltd | 0.92% | 1.24% |
| PB Fintech Ltd | 0.88% | 0.85% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.7% means 20.7% 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 Franklin India Opportunities Fund
| Security | % of fund |
|---|---|
| TBO Tek Ltd | 4.98% |
| Syrma SGS Technology Ltd | 4.45% |
| APL Apollo Tubes Ltd | 3.80% |
| Kirloskar Oil Engines Ltd | 3.10% |
| Finolex Cables Ltd | 2.97% |
Largest holdings only in JM Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 3.28% |
| Bajaj Finance Limited | 2.51% |
| Torrent Pharmaceuticals Limited | 2.21% |
| Bharti Airtel Limited | 2.18% |
| LG Electronics India Limited | 2.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Opportunities | JM Large & Mid Cap |
|---|---|---|
| Equity | 94.8% | 97.9% |
| Debt | 0.7% | 0.0% |
| Cash and others | 4.5% | 2.1% |
Market cap of stocks
| Market cap | Franklin India Opportunities | JM Large & Mid Cap |
|---|---|---|
| Large Cap | 30.1% | 40.1% |
| Mid Cap | 20.6% | 40.0% |
| Small Cap | 39.5% | 16.3% |
| Foreign stocks | 4.0% | 0.0% |
| Not on AMFI's list | 0.7% | 1.5% |
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 | Franklin India Opportunities | JM Large & Mid Cap |
|---|---|---|
| Industrial Products | 14.9% | 3.7% |
| Banks | 9.9% | 12.8% |
| Industrial Manufacturing | 9.6% | 1.0% |
| Aerospace & Defense | 7.7% | 2.5% |
| Pharmaceuticals & Biotechnology | 7.5% | 6.3% |
| Finance | 4.5% | 7.4% |
| Leisure Services | 6.0% | 1.3% |
| Auto Components | 2.4% | 5.1% |
| Capital Markets | 0.0% | 5.0% |
| Consumer Durables | 2.5% | 4.5% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Opportunities vs JM Large & Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Opportunities Fund | JM Large & Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.88% | 1.04% |
| Base expense ratio (Direct) | 0.47% | 0.66% |
| Total expense ratio (Regular) | 2.08% | 2.72% |
| Base expense ratio (Regular) | 1.51% | 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
Compare Franklin India Opportunities with
Franklin India Opportunities Fund vs JM Large & Mid Cap Fund: Frequently Asked Questions
What is the difference between Franklin India Opportunities Fund and JM Large & Mid Cap Fund?
Franklin India Opportunities Fund is a Thematic fund, JM Large & Mid Cap Fund is a Large & Mid Cap fund, run by Franklin Templeton Mutual Fund and JM Financial Mutual Fund. Their portfolios overlap 20.7%. Franklin India Opportunities Fund charges 0.88% a year and JM Large & Mid Cap Fund 1.04%.
Which has given higher returns, Franklin India Opportunities Fund or JM Large & Mid Cap Fund?
Over 1 year: Franklin India Opportunities Fund −4.53%, JM Large & Mid Cap Fund −4.09%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Opportunities Fund or JM Large & Mid Cap Fund?
Franklin India Opportunities Fund charges less: 0.88% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Opportunities Fund and JM Large & Mid Cap Fund overlap?
20.7%. They hold 13 of the same securities, the largest shared ones being PAYTM, SHRIRAMFIN, HDFCBANK. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Opportunities Fund and JM Large & Mid Cap Fund?
Yes. 20.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Franklin India Opportunities Fund and JM Large & Mid Cap Fund?
Franklin India Opportunities Fund: Kiran Sebastian, Janakiraman Rengaraju, Sandeep Manam. JM Large & Mid Cap Fund: Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar.
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.