Invesco India Large & Mid Cap Fund vs Union Large & Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Large & Mid Cap Fund and Union Large & Midcap Fund are both Large & Mid Cap funds. In the 3 years to 30-10-2026, Invesco India Large & Mid Cap Fund (Direct) returned 21.3% a year and Union Large & Midcap Fund (Direct) returned 12.4% a year. Invesco India Large & Mid Cap Fund charges 0.79% a year and Union Large & Midcap Fund 1.32% (Direct plans). Their portfolios overlap 20.4%: they hold 16 of the same securities.
Invesco India Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 21.3%
- Expense ratio
- 0.79%
- NAV
- ₹125.05
Union Large & Midcap Fund
Large & Mid Cap
- 3 year return
- 12.4%
- Expense ratio
- 1.32%
- NAV
- ₹28.14
Which is better, Invesco India Large & Mid Cap or Union 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.
- Invesco India Large & Mid Cap returned more over 5 years: 15.8% a year against 10.3%.
- Invesco India Large & Mid Cap returned more over 3 years: 21.3% a year against 12.4%.
- Invesco India Large & Mid Cap costs less: 0.79% a year against 1.32% (Direct plans).
- Union Large & Midcap swung less over 3 years: a standard deviation of 15.3% a year against 16.6%.
- Invesco India Large & Mid Cap fell less in its worst fall since 13-12-2019: −35.3% against −35.6%.
- Invesco India Large & Mid Cap is the larger fund: ₹12,178 Cr against ₹969 Cr.
- Their portfolios overlap 20.4%: 16 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 | Invesco India Large & Mid Cap Fund | Union Large & Midcap Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Union Mutual Fund |
| Category | Large & Mid Cap | Large & Mid Cap |
| AUM | ₹12,178 Cr (30-09-2026) | ₹969 Cr (30-09-2026) |
| NAV | ₹125.05 (Direct) | ₹28.14 (Direct) |
| Expense ratio (Direct) | 0.79% | 1.32% |
| Expense ratio (Regular) | 1.87% | 2.53% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 09-08-2007 | 06-12-2019 |
| Minimum investment | Not available | ₹1,000 |
| Lock in | None | None |
| Fund managers | Deepak Gupta, Aditya Khemani | Vinod Malviya, Pratik Dharmshi |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | Exit load of 1%, if redeemed within 15 days. |
Invesco India Large & Mid Cap vs Union 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Large & Mid Cap Fund (Direct) | −1.25% | −4.69% | +6.53% | +1.30% | +21.30% | +15.81% | +16.78% |
| Union Large & Midcap Fund (Direct) | −1.54% | −2.90% | +2.96% | −0.74% | +12.37% | +10.31% | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
Invesco India Large & Mid Cap vs Union Large & Midcap: Year-wise Returns
| Year | Invesco India Large & Mid CapInvesco India Large & Mid Cap | Union Large & MidcapUnion Large & Midcap | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | +4.45% | −0.07% | −7.09% |
| 2025 | +5.88% | +3.57% | +8.19% |
| 2024 | +39.09% | +22.26% | +18.68% |
| 2023 | +33.20% | +28.33% | +32.66% |
| 2022 | +0.89% | −1.87% | +4.48% |
| 2021 | +31.44% | +40.05% | +37.04% |
Invesco India Large & Mid Cap vs Union 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, 955 of them, one for each trading day from 13-12-2022 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.
Invesco India Large & Mid Cap Fund (Direct)
Union Large & Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Apr 2023Dec 2020
to
Dec 2023Jul 2021
to
Jul 2024Mar 2022
to
Mar 2025Nov 2022
to
Nov 2025Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Large & Mid Cap | 0.0 | 0.0 | 0.0 | 5.0 | 6.6 | 64.0 | 24.4 | 23.0% | 23.3% | 12.0% | 32.3% | 67% |
| Union Large & Midcap | 0.0 | 0.0 | 0.0 | 16.9 | 45.5 | 26.7 | 10.9 | 18.9% | 18.3% | 11.0% | 33.3% | 6% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 8.1 | 42.0 | 33.6 | 16.3 | 20.7% | 20.0% | 10.1% | 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 13-12-2019. Past returns do not promise future returns.
Invesco India Large & Mid Cap vs Union 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 02-12-2019 to 30-10-2026: 83 instalments, ₹8,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India Large & Mid CapInvesco India Large & Mid Cap Fund (Direct) | ₹8,30,000 | ₹16,03,994 | ₹7,73,994 | 18.8% |
| Union Large & MidcapUnion Large & Midcap Fund (Direct) | ₹8,30,000 | ₹13,57,971 | ₹5,27,971 | 14.0% |
Invesco India Large & Mid CapInvesco India Large & Mid Cap Fund (Direct)
Union Large & MidcapUnion 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.
Invesco India Large & Mid Cap vs Union Large & Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Large & Mid Cap Fund (Direct) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.30% | −0.74% |
| Standard deviation | 17.46% | 15.51% |
| Sharpe ratio | -0.23 | -0.39 |
| Sortino ratio | -0.32 | -0.52 |
| Maximum drawdown | −16.6% (30-03-2026) | −12.6% (30-03-2026) |
| Beta | 1.11 | 1.01 |
| Alpha | +9.07% | +5.90% |
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 | Invesco India Large & Mid Cap Fund (Direct) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.30% | +12.37% |
| Standard deviation | 16.63% | 15.31% |
| Sharpe ratio | 0.92 | 0.41 |
| Sortino ratio | 1.29 | 0.55 |
| Maximum drawdown | −18.6% (28-02-2025) | −18.7% (28-02-2025) |
| Beta | 1.05 | 1.01 |
| Alpha | +9.50% | +0.82% |
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 | Invesco India Large & Mid Cap Fund (Direct) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.81% | +10.31% |
| Standard deviation | 15.55% | 14.63% |
| Sharpe ratio | 0.64 | 0.31 |
| Sortino ratio | 0.89 | 0.41 |
| Maximum drawdown | −19.9% (20-06-2022) | −19.6% (20-06-2022) |
| Beta | 0.99 | 0.96 |
| Alpha | +5.24% | −0.10% |
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 | Invesco India Large & Mid Cap Fund (Direct) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.27% | +16.18% |
| Standard deviation | 15.65% | 17.07% |
| Sharpe ratio | 0.72 | 0.65 |
| Sortino ratio | 0.98 | 0.85 |
| Maximum drawdown | −35.3% (23-03-2020) | −35.6% (23-03-2020) |
| Beta | -- | 0.96 |
| Alpha | -- | +0.71% |
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.
Invesco India Large & Mid Cap Fund (Direct)
Union 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 |
|---|---|---|---|---|---|---|
| Invesco India Large & Mid Cap Fund (Direct) | −35.3% | 20-02-2020 | 23-03-2020 | 13-11-2020 | 8 months | −6.8% |
| Union Large & Midcap Fund (Direct) | −35.6% | 20-02-2020 | 23-03-2020 | 15-09-2020 | 6 months | −6.6% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
From daily values since 13-12-2019, 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.
Invesco India Large & Mid Cap Fund (Direct)
Union 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.
Invesco India Large & Mid Cap Fund (Direct)
Union 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.
Invesco India Large & Mid Cap Fund (Direct)
Union Large & Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Invesco India Large & Mid Cap Fund (Direct) | 105% | 98% | 6.26% |
| Union Large & Midcap Fund (Direct) | 96% | 92% | 5.18% |
From month-end values since 13-12-2019. 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.
Invesco India Large & Mid Cap vs Union Large & Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Large & Mid Cap Fund, September 2026; Union Large & Midcap Fund, September 2026
Holdings in common
- Overlap
- 20.4%
- Held by both
- 16
- Only in Invesco India Large & Mid Cap
- 28
- Only in Union Large & Midcap
- 65
| Security | % of Invesco India Large & Mid Cap | % of Union Large & Midcap |
|---|---|---|
| ICICI Bank Limited | 7.17% | 4.84% |
| Eternal Limited | 8.18% | 2.28% |
| Bharti Airtel Limited | 1.78% | 2.32% |
| Sai Life Sciences Limited | 5.36% | 1.51% |
| The Federal Bank Limited | 2.86% | 1.51% |
| Max Financial Services Limited | 1.50% | 1.70% |
| The Phoenix Mills Limited | 1.23% | 1.74% |
| InterGlobe Aviation Limited | 8.27% | 1.16% |
| Amber Enterprises India Limited | 2.06% | 0.90% |
| Cholamandalam Investment and Finance Company Limited | 2.17% | 0.84% |
| ABB India Limited | 4.18% | 0.82% |
| BSE Limited | 2.43% | 0.58% |
| Grindwell Norton Limited | 0.53% | 0.83% |
| JK Cement Limited | 1.71% | 0.49% |
| Prestige Estates Projects Limited | 4.86% | 0.23% |
| FSN E-Commerce Ventures Limited | 0.17% | 1.37% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.4% means 20.4% 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 Invesco India Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Max Healthcare Institute Limited | 6.67% |
| Trent Limited | 3.40% |
| Aditya Infotech Limited | 3.25% |
| Glenmark Pharmaceuticals Limited | 2.57% |
| L&T Finance Limited | 2.47% |
Largest holdings only in Union Large & Midcap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 2.86% |
| INDO-MIM Ltd. | 2.64% |
| One 97 Communications Ltd. | 2.49% |
| Axis Bank Ltd. | 2.20% |
| JSW Infrastructure Ltd. | 2.07% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Equity | 99.7% | 98.2% |
| Debt | 0.0% | 0.1% |
| Cash and others | 0.3% | 1.7% |
Market cap of stocks
| Market cap | Invesco India Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Large Cap | 38.7% | 44.0% |
| Mid Cap | 34.8% | 38.6% |
| Small Cap | 24.0% | 12.5% |
| Not on AMFI's list | 2.2% | 3.1% |
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 | Invesco India Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Banks | 14.6% | 14.6% |
| Retailing | 13.7% | 5.2% |
| Healthcare Services | 13.4% | 1.6% |
| Pharmaceuticals & Biotechnology | 8.9% | 7.9% |
| Transport Services | 8.3% | 1.7% |
| Realty | 7.4% | 2.0% |
| Electrical Equipment | 4.2% | 6.7% |
| Auto Components | 3.0% | 6.2% |
| Chemicals & Petrochemicals | 1.6% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Large & Mid Cap vs Union Large & Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Large & Mid Cap Fund | Union Large & Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.79% | 1.32% |
| Base expense ratio (Direct) | 0.55% | 0.88% |
| Total expense ratio (Regular) | 1.87% | 2.53% |
| Base expense ratio (Regular) | 1.48% | 1.94% |
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 Invesco India Large & Mid Cap with
Invesco India Large & Mid Cap Fund vs Union Large & Midcap Fund: Frequently Asked Questions
What is the difference between Invesco India Large & Mid Cap Fund and Union Large & Midcap Fund?
Both are Large & Mid Cap funds, run by Invesco Mutual Fund and Union Mutual Fund. Their portfolios overlap 20.4%. Invesco India Large & Mid Cap Fund charges 0.79% a year and Union Large & Midcap Fund 1.32%.
Which has given higher returns, Invesco India Large & Mid Cap Fund or Union Large & Midcap Fund?
Over 1 year: Invesco India Large & Mid Cap Fund +1.30%, Union Large & Midcap Fund −0.74%. Over 3 years: Invesco India Large & Mid Cap Fund +21.30% a year, Union Large & Midcap Fund +12.37% a year. Over 5 years: Invesco India Large & Mid Cap Fund +15.81% a year, Union Large & Midcap Fund +10.31% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Large & Mid Cap Fund or Union Large & Midcap Fund?
Invesco India Large & Mid Cap Fund charges less: 0.79% a year against 1.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Large & Mid Cap Fund and Union Large & Midcap Fund overlap?
20.4%. They hold 16 of the same securities, the largest shared ones being ICICIBANK, ETERNAL, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Large & Mid Cap Fund or Union Large & Midcap Fund?
On SEBI's riskometer, Invesco India Large & Mid Cap Fund is rated Very High and Union Large & Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 16.63% and 15.31% a year.
Which is better for SIP, Invesco India Large & Mid Cap Fund or Union Large & Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹9,42,785 in Invesco India Large & Mid Cap Fund (XIRR 17.2% a year) and ₹7,97,153 in Union Large & Midcap Fund (XIRR 10.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Large & Mid Cap Fund and Union Large & Midcap Fund?
Yes. 20.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Large & Mid Cap Fund and Union Large & Midcap Fund?
Invesco India Large & Mid Cap Fund: Deepak Gupta, Aditya Khemani. Union Large & Midcap Fund: Vinod Malviya, Pratik Dharmshi.
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.