HDFC Large Cap Fund vs UTI - Master Equity Plan Unit Scheme
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
HDFC Large Cap Fund is a Large Cap fund and UTI - Master Equity Plan Unit Scheme is an ELSS fund. In the 3 years to 30-10-2026, HDFC Large Cap Fund (Direct) returned 8.6% a year and UTI - Master Equity Plan Unit Scheme (Regular) returned 7.2% a year. HDFC Large Cap Fund charges 1.02% a year and UTI - Master Equity Plan Unit Scheme 1.36%. Their portfolios overlap 52.9%: they hold 28 of the same securities.
UTI - Master Equity Plan Unit Scheme
ELSS
- 3 year return
- 7.2%
- Expense ratio
- 1.36%
- NAV
- ₹215.44
Which is better, HDFC Large Cap or UTI - Master Equity Plan Unit Scheme? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Large Cap returned more over 5 years: 9.6% a year against 6.0%.
- HDFC Large Cap returned more over 3 years: 8.6% a year against 7.2%.
- HDFC Large Cap costs less: 1.02% a year against 1.36%.
- UTI - Master Equity Plan Unit Scheme swung less over 3 years: a standard deviation of 12.4% a year against 13.4%.
- UTI - Master Equity Plan Unit Scheme fell less in its worst fall since 01-01-2013: −38.0% against −40.8%.
- HDFC Large Cap is the larger fund: ₹37,294 Cr against ₹2,652 Cr.
- Their portfolios overlap 52.9%: 28 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 | HDFC Large Cap Fund | UTI - Master Equity Plan Unit Scheme |
|---|---|---|
| Fund house | HDFC Mutual Fund | UTI Mutual Fund |
| Category | Large Cap | ELSS |
| AUM | ₹37,294 Cr (30-09-2026) | ₹2,652 Cr (30-09-2026) |
| NAV | ₹1,164.95 (Direct) | ₹215.44 (Regular) |
| Expense ratio (Direct) | 1.02% | Not available |
| Expense ratio (Regular) | 1.58% | 1.36% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 100 TRI | Not available |
| Launch date | 11-10-1996 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Rahul Baijal, Gopal Agrawal, Bhagyesh Kagalkar | Not available |
| Exit load | In respect of each purchase/switch-in of units, an Exit Load of 1.00% is payable if Units are redeemed/switched-out within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed/ switched-out after 1 year from the date of allotment. | Not available |
HDFC Large Cap vs UTI - Master Equity Plan Unit Scheme: 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 |
|---|---|---|---|---|---|---|---|
| HDFC Large Cap Fund (Direct) | +0.28% | −6.12% | −1.80% | −8.00% | +8.64% | +9.58% | +11.81% |
| UTI - Master Equity Plan Unit Scheme (Regular) | +1.76% | −4.05% | −0.82% | −8.63% | +7.20% | +5.98% | +9.29% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
| ELSS average | −2.38% | −5.77% | −2.09% | −6.60% | +9.82% | +9.22% | +11.87% |
Category average: the average of the 35 Large Cap funds and the 50 ELSS funds, same plan type.
HDFC Large Cap vs UTI - Master Equity Plan Unit Scheme: Year-wise Returns
| Year | HDFC Large CapHDFC Large Cap | UTI - Master Equity Plan Unit SchemeUTI - Master Equity Plan Unit Scheme |
|---|---|---|
| 2026to date | −8.98% | −9.21% |
| 2025 | +8.60% | +8.50% |
| 2024 | +12.31% | +11.31% |
| 2023 | +30.78% | +21.08% |
| 2022 | +11.27% | +1.24% |
| 2021 | +29.28% | +29.14% |
HDFC Large Cap vs UTI - Master Equity Plan Unit Scheme: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of HDFC Large Cap Fund
Rolling returns
Every 3-year holding period, 2,667 of them, one for each trading day from 01-01-2016 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.
HDFC Large Cap Fund (Direct)
UTI - Master Equity Plan Unit Scheme (Regular)
Nifty 100 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Large Cap | 3.7 | 3.6 | 12.2 | 31.5 | 30.4 | 13.3 | 5.3 | 14.4% | 14.7% | −7.3% | 34.0% | 61% |
| UTI - Master Equity Plan Unit Scheme | 4.1 | 4.4 | 22.6 | 44.3 | 19.2 | 4.9 | 0.5 | 11.8% | 12.1% | −8.0% | 28.9% | 15% |
| Nifty 100 TRI | 0.9 | 3.7 | 11.1 | 47.2 | 30.6 | 5.1 | 1.3 | 13.6% | 13.8% | −5.0% | 31.4% | -- |
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 100 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 01-01-2013. Past returns do not promise future returns.
HDFC Large Cap vs UTI - Master Equity Plan Unit Scheme: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Large CapHDFC Large Cap Fund (Direct) | ₹16,60,000 | ₹40,70,295 | ₹24,10,295 | 12.1% |
| UTI - Master Equity Plan Unit SchemeUTI - Master Equity Plan Unit Scheme (Regular) | ₹16,60,000 | ₹33,73,147 | ₹17,13,147 | 9.7% |
HDFC Large CapHDFC Large Cap Fund (Direct)
UTI - Master Equity Plan Unit SchemeUTI - Master Equity Plan Unit Scheme (Regular)
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.
HDFC Large Cap vs UTI - Master Equity Plan Unit Scheme: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Large Cap Fund (Direct) | UTI - Master Equity Plan Unit Scheme (Regular) |
|---|---|---|
| Return (CAGR) | −8.00% | −8.63% |
| Standard deviation | 13.93% | 13.24% |
| Sharpe ratio | -0.95 | -1.05 |
| Sortino ratio | -1.27 | -1.39 |
| Maximum drawdown | −14.6% (31-03-2026) | −15.5% (31-03-2026) |
| Beta | 0.98 | 0.95 |
| Alpha | +0.45% | −0.47% |
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 | HDFC Large Cap Fund (Direct) | UTI - Master Equity Plan Unit Scheme (Regular) |
|---|---|---|
| Return (CAGR) | +8.64% | +7.20% |
| Standard deviation | 13.42% | 12.36% |
| Sharpe ratio | 0.20 | 0.10 |
| Sortino ratio | 0.27 | 0.13 |
| Maximum drawdown | −16.4% (04-03-2025) | −17.1% (31-03-2026) |
| Beta | 0.97 | 0.90 |
| Alpha | −0.34% | −1.46% |
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 | HDFC Large Cap Fund (Direct) | UTI - Master Equity Plan Unit Scheme (Regular) |
|---|---|---|
| Return (CAGR) | +9.58% | +5.98% |
| Standard deviation | 13.49% | 12.88% |
| Sharpe ratio | 0.28 | 0.01 |
| Sortino ratio | 0.38 | 0.02 |
| Maximum drawdown | −16.4% (04-03-2025) | −18.1% (17-06-2022) |
| Beta | 0.95 | 0.91 |
| Alpha | +2.43% | −1.63% |
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 | HDFC Large Cap Fund (Direct) | UTI - Master Equity Plan Unit Scheme (Regular) |
|---|---|---|
| Return (CAGR) | +12.49% | +9.28% |
| Standard deviation | 16.76% | 15.40% |
| Sharpe ratio | 0.38 | 0.20 |
| Sortino ratio | 0.53 | 0.27 |
| Maximum drawdown | −40.8% (23-03-2020) | −38.0% (23-03-2020) |
| Beta | 1.02 | 0.94 |
| Alpha | +0.34% | −0.99% |
From daily NAVs, 01-01-2013 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.
HDFC Large Cap Fund (Direct)
UTI - Master Equity Plan Unit Scheme (Regular)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Large Cap Fund (Direct) | −40.8% | 04-07-2019 | 23-03-2020 | 09-12-2020 | 9 months | −11.0% |
| UTI - Master Equity Plan Unit Scheme (Regular) | −38.0% | 28-08-2018 | 23-03-2020 | 17-11-2020 | 8 months | −11.4% |
| Nifty 100 TRI | −37.9% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.1% |
From daily values since 01-01-2013, 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.
HDFC Large Cap Fund (Direct)
UTI - Master Equity Plan Unit Scheme (Regular)
Nifty 100 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.
HDFC Large Cap Fund (Direct)
UTI - Master Equity Plan Unit Scheme (Regular)
Nifty 100 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.
HDFC Large Cap Fund (Direct)
UTI - Master Equity Plan Unit Scheme (Regular)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Large Cap Fund (Direct) | 105% | 105% | 4.95% |
| UTI - Master Equity Plan Unit Scheme (Regular) | 95% | 99% | 3.23% |
From month-end values since 01-01-2013. 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.
HDFC Large Cap vs UTI - Master Equity Plan Unit Scheme: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Large Cap Fund, September 2026; UTI - Master Equity Plan Unit Scheme, September 2026
Holdings in common
- Overlap
- 52.9%
- Held by both
- 28
- Only in HDFC Large Cap
- 19
- Only in UTI - Master Equity Plan Unit Scheme
- 39
| Security | % of HDFC Large Cap | % of UTI - Master Equity Plan Unit Scheme |
|---|---|---|
| ICICI Bank Ltd. | 9.79% | 8.93% |
| HDFC Bank Ltd. | 7.36% | 9.10% |
| Kotak Mahindra Bank Limited | 6.08% | 5.04% |
| Reliance Industries Ltd. | 4.76% | 5.03% |
| Bharti Airtel Ltd. | 6.46% | 4.07% |
| Axis Bank Ltd. | 3.52% | 3.14% |
| Eternal Limited | 2.60% | 2.82% |
| Infosys Limited | 2.59% | 3.18% |
| Larsen and Toubro Ltd. | 1.98% | 4.06% |
| State Bank of India | 1.83% | 1.62% |
| Tata Consumer Products Limited | 1.29% | 1.41% |
| Hyundai Motor India Limited | 1.19% | 1.06% |
| Titan Company Ltd. | 5.07% | 1.05% |
| Max Healthcare Institute Limited | 1.65% | 1.01% |
| MANKIND PHARMA LIMITED | 1.84% | 0.90% |
| Tata Motors Limited | 1.94% | 0.78% |
| Tata Capital Ltd. | 0.72% | 0.62% |
| Mahindra & Mahindra Ltd. | 0.62% | 1.46% |
| Indusind Bank Ltd. | 1.49% | 0.57% |
| Bajaj Auto Limited | 2.81% | 0.52% |
| Bharat Electronics Ltd. | 0.47% | 0.60% |
| SRF Ltd. | 0.92% | 0.43% |
| Adani Ports & Special Economic Zone | 1.05% | 0.42% |
| Tata Motors Passenger Vehicles Limited | 0.40% | 0.97% |
| Lupin Ltd. | 2.51% | 0.34% |
| National Stock Exchange of India Limited | 0.25% | 0.30% |
| InterGlobe Aviation Ltd. | 2.00% | 0.11% |
| DLF LIMITED | 0.38% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 52.9% means 52.9% 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 HDFC Large Cap Fund
| Security | % of fund |
|---|---|
| Torrent Pharmaceuticals Ltd. | 4.09% |
| Bajaj Finserv Ltd. | 3.05% |
| Cholamandalam Investment & Finance Co. Ltd. | 2.28% |
| Ambuja Cements Ltd. | 2.24% |
| NTPC Limited | 1.93% |
Largest holdings only in UTI - Master Equity Plan Unit Scheme
| Security | % of fund |
|---|---|
| EQ - BAJAJ FINANCE LTD. | 3.21% |
| EQ - ULTRATECH CEMENT LTD. | 1.82% |
| EQ - LTM Limited | 1.78% |
| EQ - MARUTI SUZUKI INDIA LTD. | 1.48% |
| EQ - HINDUSTAN AERONAUTICS LTD | 1.40% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Large Cap | UTI - Master Equity Plan Unit Scheme |
|---|---|---|
| Equity | 98.4% | 94.1% |
| Debt | 0.5% | 0.4% |
| Cash and others | 1.1% | 5.5% |
Market cap of stocks
| Market cap | HDFC Large Cap | UTI - Master Equity Plan Unit Scheme |
|---|---|---|
| Large Cap | 82.9% | 81.4% |
| Mid Cap | 14.6% | 10.2% |
| Small Cap | 0.0% | 2.2% |
| Not on AMFI's list | 0.9% | 0.3% |
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 | HDFC Large Cap | UTI - Master Equity Plan Unit Scheme |
|---|---|---|
| Banks | 30.1% | 28.4% |
| Pharmaceuticals & Biotechnology | 8.4% | 2.4% |
| IT - Software | 2.6% | 8.1% |
| Telecom - Services | 6.5% | 4.1% |
| Consumer Durables | 6.3% | 2.8% |
| Finance | 6.0% | 3.8% |
| Automobiles | 6.0% | 5.5% |
| Petroleum Products | 4.8% | 5.4% |
| Retailing | 5.2% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Large Cap vs UTI - Master Equity Plan Unit Scheme: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Large Cap Fund | UTI - Master Equity Plan Unit Scheme |
|---|---|---|
| Total expense ratio (Direct) | 1.02% | Not available |
| Base expense ratio (Direct) | 0.84% | 0.00% |
| Total expense ratio (Regular) | 1.58% | 1.36% |
| Base expense ratio (Regular) | 1.31% | 1.00% |
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 HDFC Large Cap with
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- UTI - Master Equity Plan Unit Scheme vs JM ELSS - Tax Saver
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HDFC Large Cap Fund vs UTI - Master Equity Plan Unit Scheme: Frequently Asked Questions
What is the difference between HDFC Large Cap Fund and UTI - Master Equity Plan Unit Scheme?
HDFC Large Cap Fund is a Large Cap fund, UTI - Master Equity Plan Unit Scheme is an ELSS fund, run by HDFC Mutual Fund and UTI Mutual Fund. Their portfolios overlap 52.9%. HDFC Large Cap Fund charges 1.02% a year and UTI - Master Equity Plan Unit Scheme 1.36%.
Which has given higher returns, HDFC Large Cap Fund or UTI - Master Equity Plan Unit Scheme?
Over 1 year: HDFC Large Cap Fund −8.00%, UTI - Master Equity Plan Unit Scheme −8.63%. Over 3 years: HDFC Large Cap Fund +8.64% a year, UTI - Master Equity Plan Unit Scheme +7.20% a year. Over 5 years: HDFC Large Cap Fund +9.58% a year, UTI - Master Equity Plan Unit Scheme +5.98% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Large Cap Fund or UTI - Master Equity Plan Unit Scheme?
HDFC Large Cap Fund charges less: 1.02% a year against 1.36%. These are the total expense ratios reported to AMFI.
How much do HDFC Large Cap Fund and UTI - Master Equity Plan Unit Scheme overlap?
52.9%. They hold 28 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC Large Cap Fund or UTI - Master Equity Plan Unit Scheme?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,31,607 in HDFC Large Cap Fund (XIRR 7.1% a year) and ₹6,93,417 in UTI - Master Equity Plan Unit Scheme (XIRR 5.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Large Cap Fund and UTI - Master Equity Plan Unit Scheme?
Yes. 52.9% of each fund's money sits in the same holdings, so a large part 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.