HDFC Large & Mid Cap Fund vs SBI Large & Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Large & Mid Cap Fund and SBI Large & Midcap Fund are both Large & Mid Cap funds. In the 3 years to 30-10-2026, HDFC Large & Mid Cap Fund (Direct) returned 12.1% a year and SBI Large & Midcap Fund (Direct) returned 12.1% a year. HDFC Large & Mid Cap Fund charges 0.92% a year and SBI Large & Midcap Fund 0.86% (Direct plans). Their portfolios overlap 29.8%: they hold 55 of the same securities.
HDFC Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 12.1%
- Expense ratio
- 0.92%
- NAV
- ₹344.94
SBI Large & Midcap Fund
Large & Mid Cap
- 3 year return
- 12.1%
- Expense ratio
- 0.86%
- NAV
- ₹660.32
Which is better, HDFC Large & Mid Cap or SBI Large & Midcap? 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 & Mid Cap returned more over 5 years: 12.3% a year against 11.6%.
- SBI Large & Midcap returned more over 3 years: 12.1% a year against 12.1%.
- SBI Large & Midcap costs less: 0.86% a year against 0.92% (Direct plans).
- SBI Large & Midcap swung less over 3 years: a standard deviation of 12.9% a year against 14.9%.
- SBI Large & Midcap fell less in its worst fall since 30-06-2014: −36.4% against −39.5%.
- SBI Large & Midcap is the larger fund: ₹40,499 Cr against ₹28,543 Cr.
- Their portfolios overlap 29.8%: 55 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 & Mid Cap Fund | SBI Large & Midcap Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | SBI Mutual Fund |
| Category | Large & Mid Cap | Large & Mid Cap |
| AUM | ₹28,543 Cr (30-09-2026) | ₹40,499 Cr (30-09-2026) |
| NAV | ₹344.94 (Direct) | ₹660.32 (Direct) |
| Expense ratio (Direct) | 0.92% | 0.86% |
| Expense ratio (Regular) | 1.61% | 1.65% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty LargeMidcap 250 TRI | Not available |
| Launch date | 18-02-1994 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Gopal Agarwal, 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 & Mid Cap vs SBI Large & 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 |
|---|---|---|---|---|---|---|---|
| HDFC Large & Mid Cap Fund (Direct) | −1.74% | −6.65% | −1.59% | −6.99% | +12.06% | +12.31% | +14.05% |
| SBI Large & Midcap Fund (Direct) | −2.33% | −8.03% | −3.88% | −5.40% | +12.07% | +11.58% | +13.85% |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
HDFC Large & Mid Cap vs SBI Large & Midcap: Year-wise Returns
| Year | HDFC Large & Mid CapHDFC Large & Mid Cap | SBI Large & MidcapSBI Large & Midcap | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | −6.39% | −6.79% | −7.09% |
| 2025 | +6.89% | +11.00% | +8.19% |
| 2024 | +20.42% | +19.12% | +18.68% |
| 2023 | +38.87% | +27.91% | +32.66% |
| 2022 | +9.05% | +8.13% | +4.48% |
| 2021 | +43.96% | +40.40% | +37.04% |
HDFC Large & Mid Cap vs SBI Large & Midcap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,299 of them, one for each trading day from 30-06-2017 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 & Mid Cap Fund (Direct)
SBI Large & Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Mar 2018Oct 2016
to
Oct 2019May 2018
to
May 2021Jan 2020
to
Jan 2023Aug 2021
to
Aug 2024Jan 2023
to
Jan 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Large & Mid Cap | 4.9 | 5.7 | 22.1 | 13.3 | 15.4 | 20.8 | 17.8 | 15.8% | 16.4% | −8.9% | 39.1% | 72% |
| SBI Large & Midcap | 2.3 | 5.5 | 7.3 | 23.9 | 31.3 | 22.2 | 7.5 | 16.3% | 16.8% | −4.7% | 36.1% | 63% |
| 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 30-06-2014. Past returns do not promise future returns.
HDFC Large & Mid Cap vs SBI Large & 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 30-06-2014 to 30-10-2026: 149 instalments, ₹14,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Large & Mid CapHDFC Large & Mid Cap Fund (Direct) | ₹14,90,000 | ₹37,74,309 | ₹22,84,309 | 14.0% |
| SBI Large & MidcapSBI Large & Midcap Fund (Direct) | ₹14,90,000 | ₹38,02,044 | ₹23,12,044 | 14.2% |
HDFC Large & Mid CapHDFC Large & Mid Cap Fund (Direct)
SBI Large & MidcapSBI Large & 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.
HDFC Large & Mid Cap vs SBI Large & Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Large & Mid Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.99% | −5.40% |
| Standard deviation | 15.08% | 13.45% |
| Sharpe ratio | -0.81 | -0.79 |
| Sortino ratio | -1.08 | -1.06 |
| Maximum drawdown | −15.1% (31-03-2026) | −12.5% (31-03-2026) |
| Beta | 1.00 | 0.88 |
| Alpha | −0.47% | −0.19% |
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 & Mid Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.06% | +12.07% |
| Standard deviation | 14.86% | 12.86% |
| Sharpe ratio | 0.41 | 0.47 |
| Sortino ratio | 0.55 | 0.64 |
| Maximum drawdown | −18.7% (28-02-2025) | −14.2% (03-03-2025) |
| Beta | 0.99 | 0.84 |
| Alpha | +0.58% | +1.23% |
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 & Mid Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.31% | +11.58% |
| Standard deviation | 14.84% | 12.87% |
| Sharpe ratio | 0.44 | 0.45 |
| Sortino ratio | 0.59 | 0.60 |
| Maximum drawdown | −18.7% (28-02-2025) | −16.4% (20-06-2022) |
| Beta | 0.99 | 0.84 |
| Alpha | +1.75% | +1.68% |
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 & Mid Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.34% | +15.59% |
| Standard deviation | 16.43% | 14.85% |
| Sharpe ratio | 0.40 | 0.64 |
| Sortino ratio | 0.54 | 0.86 |
| Maximum drawdown | −39.5% (23-03-2020) | −36.4% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-06-2014 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 & Mid Cap Fund (Direct)
SBI Large & 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 |
|---|---|---|---|---|---|---|
| HDFC Large & Mid Cap Fund (Direct) | −39.5% | 17-01-2020 | 23-03-2020 | 23-11-2020 | 8 months | −8.4% |
| SBI Large & Midcap Fund (Direct) | −36.4% | 20-02-2020 | 23-03-2020 | 24-11-2020 | 8 months | −9.7% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
From daily values since 30-06-2014, 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 & Mid Cap Fund (Direct)
SBI Large & 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.
HDFC Large & Mid Cap Fund (Direct)
SBI Large & 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.
HDFC Large & Mid Cap Fund (Direct)
SBI Large & Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Large & Mid Cap Fund (Direct) | 100% | 95% | 4.29% |
| SBI Large & Midcap Fund (Direct) | 92% | 85% | 4.39% |
From month-end values since 30-06-2014. 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 & Mid Cap vs SBI Large & Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Large & Mid Cap Fund, September 2026; SBI Large & Midcap Fund, September 2026
Holdings in common
- Overlap
- 29.8%
- Held by both
- 55
- Only in HDFC Large & Mid Cap
- 185
- Only in SBI Large & Midcap
- 31
| Security | % of HDFC Large & Mid Cap | % of SBI Large & Midcap |
|---|---|---|
| ICICI Bank Ltd. | 3.66% | 3.79% |
| HDFC Bank Ltd. | 3.64% | 6.65% |
| Axis Bank Ltd. | 1.95% | 3.33% |
| Gland Pharma Ltd. | 1.42% | 2.28% |
| Aurobindo Pharma Ltd. | 1.27% | 1.94% |
| Kotak Mahindra Bank Limited | 1.23% | 1.33% |
| State Bank of India | 1.42% | 0.91% |
| Bharat Forge Ltd. | 0.91% | 2.02% |
| Infosys Limited | 1.04% | 0.86% |
| Balkrishna Industries Ltd. | 0.83% | 2.46% |
| Alkem Laboratories Ltd. | 0.82% | 1.88% |
| Divis Laboratories Ltd. | 0.79% | 1.90% |
| Jindal Steel Limited. | 0.76% | 1.32% |
| Adani Energy Solutions Limited | 0.69% | 0.88% |
| HCL Technologies Ltd. | 0.84% | 0.66% |
| Fsn Ecommerce Ventures Limited (Nykaa) | 0.60% | 1.42% |
| Tata Steel Ltd. | 0.56% | 0.63% |
| Ashok Leyland Ltd | 0.54% | 2.13% |
| Lupin Ltd. | 1.00% | 0.52% |
| Hindustan Unilever Ltd. | 0.49% | 1.35% |
| Hero MotoCorp Ltd. | 0.44% | 0.65% |
| Voltas Ltd. | 0.44% | 0.50% |
| Timken India Ltd. | 0.44% | 0.43% |
| Swiggy Limited | 0.42% | 2.35% |
| Biocon Ltd. | 0.39% | 2.20% |
| Tata Motors Limited | 0.38% | 2.22% |
| Endurance Technologies Ltd. | 0.37% | 0.72% |
| Delhivery Limited | 0.33% | 0.93% |
| Tata Motors Passenger Vehicles Limited | 0.26% | 0.25% |
| Asian Paints Limited | 0.25% | 2.28% |
| AIA Engineering Ltd. | 0.23% | 1.01% |
| HDFC Life Insurance Company Limited | 0.22% | 1.76% |
| Emami Ltd. | 0.21% | 0.61% |
| Jubilant Foodworks Limited | 0.20% | 1.24% |
| SBI CARDS AND PAYMENT SERVICES LIMITED | 0.19% | 0.44% |
| Samvardhana Motherson International Ltd. | 0.19% | 0.81% |
| LTM Limited | 0.18% | 1.41% |
| ACC Ltd. | 0.17% | 0.40% |
| JSW Energy Ltd. | 0.17% | 0.92% |
| Page Industries Ltd | 0.16% | 1.09% |
| Cholamandalam Financial Holdings Ltd. | 0.14% | 0.49% |
| Kajaria Ceramics Ltd. | 0.14% | 0.60% |
| Sun Pharmaceutical Industries Ltd. | 0.71% | 0.13% |
| Nuvoco Vistas Corporation Ltd. | 0.13% | 0.47% |
| Deepak Nitrite Limited | 0.09% | 0.21% |
| Gujarat Energy Limited | 0.08% | 0.17% |
| Sundram Fasteners Ltd. | 0.07% | 1.32% |
| United Breweries Ltd. | 0.07% | 1.64% |
| JK Cement Limited | 0.07% | 0.48% |
| Hexaware Technologies Ltd. | 0.06% | 1.46% |
| Motherson Sumi Wiring India Limited | 0.04% | 0.24% |
| TENNECO CLEAN AIR INDIA LIMITED | 0.04% | 0.61% |
| GSPL Transmission Limited | 0.02% | 0.03% |
| ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED | 0.02% | 1.55% |
| Godrej Consumer Products Ltd. | 0.01% | 0.99% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.8% means 29.8% 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 & Mid Cap Fund
| Security | % of fund |
|---|---|
| Bharti Airtel Ltd. | 1.79% |
| Reliance Industries Ltd. | 1.42% |
| Prestige Estates Projects Ltd. | 1.30% |
| Fortis Healthcare Limited | 1.28% |
| Max Financial Services Ltd. | 1.25% |
Largest holdings only in SBI Large & Midcap Fund
| Security | % of fund |
|---|---|
| Adani Enterprises Ltd. | 2.46% |
| Berger Paints India Ltd. | 2.25% |
| Abbott India Ltd. | 2.06% |
| Torrent Power Ltd. | 2.00% |
| Shree Cement Ltd. | 1.85% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Large & Mid Cap | SBI Large & Midcap |
|---|---|---|
| Equity | 99.0% | 96.9% |
| Debt | 0.0% | 0.3% |
| Cash and others | 1.0% | 2.8% |
Market cap of stocks
| Market cap | HDFC Large & Mid Cap | SBI Large & Midcap |
|---|---|---|
| Large Cap | 43.5% | 41.0% |
| Mid Cap | 38.7% | 35.5% |
| Small Cap | 16.8% | 19.6% |
| Foreign stocks | 0.0% | 0.8% |
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 & Mid Cap | SBI Large & Midcap |
|---|---|---|
| Banks | 17.0% | 16.0% |
| Pharmaceuticals & Biotechnology | 11.9% | 12.9% |
| Auto Components | 4.5% | 9.2% |
| Finance | 7.9% | 1.8% |
| Consumer Durables | 2.0% | 6.9% |
| IT - Software | 6.3% | 4.9% |
| Agricultural, Commercial & Construction Vehicles | 1.7% | 4.3% |
| Automobiles | 3.7% | 0.9% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Large & Mid Cap vs SBI Large & Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Large & Mid Cap Fund | SBI Large & Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.92% | 0.86% |
| Base expense ratio (Direct) | 0.77% | 0.61% |
| Total expense ratio (Regular) | 1.61% | 1.65% |
| Base expense ratio (Regular) | 1.36% | 1.29% |
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 & Mid Cap with
HDFC Large & Mid Cap Fund vs SBI Large & Midcap Fund: Frequently Asked Questions
What is the difference between HDFC Large & Mid Cap Fund and SBI Large & Midcap Fund?
Both are Large & Mid Cap funds, run by HDFC Mutual Fund and SBI Mutual Fund. Their portfolios overlap 29.8%. HDFC Large & Mid Cap Fund charges 0.92% a year and SBI Large & Midcap Fund 0.86%.
Which has given higher returns, HDFC Large & Mid Cap Fund or SBI Large & Midcap Fund?
Over 1 year: HDFC Large & Mid Cap Fund −6.99%, SBI Large & Midcap Fund −5.40%. Over 3 years: HDFC Large & Mid Cap Fund +12.06% a year, SBI Large & Midcap Fund +12.07% a year. Over 5 years: HDFC Large & Mid Cap Fund +12.31% a year, SBI Large & Midcap Fund +11.58% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Large & Mid Cap Fund or SBI Large & Midcap Fund?
SBI Large & Midcap Fund charges less: 0.86% a year against 0.92%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Large & Mid Cap Fund and SBI Large & Midcap Fund overlap?
29.8%. They hold 55 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC Large & Mid Cap Fund or SBI Large & Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,96,813 in HDFC Large & Mid Cap Fund (XIRR 10.5% a year) and ₹7,80,110 in SBI Large & Midcap Fund (XIRR 9.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Large & Mid Cap Fund and SBI Large & Midcap Fund?
Yes. 29.8% 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.