ITI Focused Fund vs Union Largecap Fund
Direct Plan, Growth option · Data as on 30-10-2026
ITI Focused Fund is a Focused fund and Union Largecap Fund is a Large Cap fund. In the 3 years to 30-10-2026, ITI Focused Fund (Direct) returned 15.8% a year and Union Largecap Fund (Direct) returned 7.8% a year. ITI Focused Fund charges 0.90% a year and Union Largecap Fund 1.68% (Direct plans). Their portfolios overlap 34.5%: they hold 13 of the same securities.
Which is better, ITI Focused or Union Largecap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ITI Focused returned more over 3 years: 15.8% a year against 7.8%.
- ITI Focused returned more over 1 year: −0.7% against −8.1%.
- ITI Focused costs less: 0.90% a year against 1.68% (Direct plans).
- Union Largecap swung less over 3 years: a standard deviation of 13.7% a year against 16.1%.
- Union Largecap fell less in its worst fall since 21-06-2023: −16.3% against −18.4%.
- Union Largecap holds more in large companies: 83.0% of the fund in large caps against 51.4%.
- ITI Focused is the larger fund: ₹607 Cr against ₹408 Cr.
- Their portfolios overlap 34.5%: 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 | ITI Focused Fund | Union Largecap Fund |
|---|---|---|
| Fund house | ITI Mutual Fund | Union Mutual Fund |
| Category | Focused | Large Cap |
| AUM | ₹607 Cr (30-09-2026) | ₹408 Cr (30-09-2026) |
| NAV | ₹16.24 (Direct) | ₹23.73 (Direct) |
| Expense ratio (Direct) | 0.90% | 1.68% |
| Expense ratio (Regular) | 2.59% | 2.58% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE 100 TRI |
| Launch date | 19-06-2023 | 11-05-2017 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Dhimant Shah, Alok Ranjan | Pratik Dharmshi, Sanjay Bembalkar |
| Exit load | Exit load of 0.50%, if redeemed within 3 months. | Exit load of 1%, if redeemed within 15 days. |
ITI Focused vs Union Largecap: 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 |
|---|---|---|---|---|---|---|---|
| ITI Focused Fund (Direct) | −3.18% | −5.95% | −1.75% | −0.70% | +15.80% | -- | -- |
| Union Largecap Fund (Direct) | +0.98% | −4.24% | −2.18% | −8.09% | +7.81% | +6.11% | -- |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | -- | -- |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | -- |
Category average: the average of the 28 Focused funds and the 35 Large Cap funds, same plan type.
ITI Focused vs Union Largecap: Year-wise Returns
| Year | ITI FocusedITI Focused | Union LargecapUnion Largecap |
|---|---|---|
| 2026to date | −2.51% | −7.05% |
| 2025 | +9.68% | +5.23% |
| 2024 | +26.87% | +13.31% |
| 2023 | -- | +23.26% |
| 2022 | -- | +0.23% |
| 2021 | -- | +29.33% |
ITI Focused vs Union Largecap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ITI Focused Fund
Rolling returns
Every 3-year holding period, 89 of them, one for each trading day from 22-06-2026 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.
ITI Focused Fund (Direct)
Union Largecap Fund (Direct)
Nifty 500 TRI
to
Jul 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ITI Focused | 0.0 | 0.0 | 0.0 | 2.2 | 71.9 | 25.8 | 0.0 | 18.7% | 19.2% | 14.4% | 21.1% | 100% |
| Union Largecap | 0.0 | 0.0 | 86.5 | 13.5 | 0.0 | 0.0 | 0.0 | 8.6% | 8.9% | 6.1% | 11.0% | 0% |
| Nifty 500 TRI | 0.0 | 0.0 | 21.3 | 78.7 | 0.0 | 0.0 | 0.0 | 11.7% | 12.1% | 8.8% | 14.1% | -- |
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 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 21-06-2023. Past returns do not promise future returns.
ITI Focused vs Union Largecap: 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 21-06-2023 to 30-10-2026: 41 instalments, ₹4,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ITI FocusedITI Focused Fund (Direct) | ₹4,10,000 | ₹4,74,727 | ₹64,727 | 8.6% |
| Union LargecapUnion Largecap Fund (Direct) | ₹4,10,000 | ₹4,21,599 | ₹11,599 | 1.6% |
ITI FocusedITI Focused Fund (Direct)
Union LargecapUnion Largecap 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.
ITI Focused vs Union Largecap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ITI Focused Fund (Direct) | Union Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.70% | −8.09% |
| Standard deviation | 15.77% | 14.03% |
| Sharpe ratio | -0.38 | -0.95 |
| Sortino ratio | -0.51 | -1.27 |
| Maximum drawdown | −13.6% (23-03-2026) | −14.1% (30-03-2026) |
| Beta | 1.02 | 0.99 |
| Alpha | +6.87% | +0.69% |
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 | ITI Focused Fund (Direct) | Union Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.80% | +7.81% |
| Standard deviation | 16.09% | 13.72% |
| Sharpe ratio | 0.61 | 0.13 |
| Sortino ratio | 0.82 | 0.18 |
| Maximum drawdown | −18.4% (28-02-2025) | −16.3% (28-02-2025) |
| Beta | 1.06 | 0.99 |
| Alpha | +5.33% | −1.14% |
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 | ITI Focused Fund (Direct) | Union Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.62% | +9.55% |
| Standard deviation | 15.45% | 16.04% |
| Sharpe ratio | 0.62 | 0.26 |
| Sortino ratio | 0.83 | 0.35 |
| Maximum drawdown | −18.4% (28-02-2025) | −36.4% (23-03-2020) |
| Beta | 1.05 | 0.97 |
| Alpha | +5.07% | −1.93% |
From daily NAVs, 21-06-2023 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.
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.
ITI Focused Fund (Direct)
Union Largecap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ITI Focused Fund (Direct) | −18.4% | 27-09-2024 | 28-02-2025 | 26-06-2025 | 4 months | −8.6% |
| Union Largecap Fund (Direct) | −16.3% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 21-06-2023, 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.
ITI Focused Fund (Direct)
Union Largecap Fund (Direct)
Nifty 500 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.
ITI Focused Fund (Direct)
Union Largecap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ITI Focused Fund (Direct) | 114% | 90% | 4.81% |
| Union Largecap Fund (Direct) | 86% | 93% | 3.27% |
From month-end values since 21-06-2023. 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.
ITI Focused vs Union Largecap: Portfolio Overlap
From each fund's latest monthly portfolio: ITI Focused Fund, September 2026; Union Largecap Fund, September 2026
Holdings in common
- Overlap
- 34.5%
- Held by both
- 13
- Only in ITI Focused
- 16
- Only in Union Largecap
- 44
| Security | % of ITI Focused | % of Union Largecap |
|---|---|---|
| ICICI Bank Limited | 5.03% | 9.41% |
| Reliance Industries Limited | 4.20% | 5.28% |
| HDFC Bank Limited | 4.09% | 6.95% |
| State Bank of India | 3.51% | 4.18% |
| Bharti Airtel Limited | 2.86% | 4.31% |
| Tata Consumer Products Limited | 2.67% | 2.57% |
| Larsen & Toubro Limited | 2.83% | 2.49% |
| Solar Industries India Limited | 4.00% | 2.45% |
| Kotak Mahindra Bank Limited | 2.32% | 2.52% |
| Shriram Finance Limited | 3.21% | 1.69% |
| Maruti Suzuki India Limited | 1.97% | 1.25% |
| Multi Commodity Exchange of India Limited | 4.34% | 1.03% |
| UltraTech Cement Limited | 2.81% | 0.99% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.5% means 34.5% 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 ITI Focused Fund
| Security | % of fund |
|---|---|
| KRN Heat Exchanger And Refrigeration Limited | 4.76% |
| Wockhardt Limited | 4.66% |
| Graphite India Limited | 4.17% |
| Vedanta Aluminium Metal Limited | 4.05% |
| MTAR Technologies Limited | 3.53% |
Largest holdings only in Union Largecap Fund
| Security | % of fund |
|---|---|
| Torrent Pharmaceuticals Ltd. | 3.27% |
| Eternal Ltd. | 3.27% |
| Axis Bank Ltd. | 3.24% |
| Infosys Ltd. | 2.69% |
| Mahindra & Mahindra Ltd. | 2.68% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ITI Focused | Union Largecap |
|---|---|---|
| Equity | 93.0% | 99.0% |
| Debt | 0.0% | 0.1% |
| Cash and others | 7.0% | 0.9% |
Market cap of stocks
| Market cap | ITI Focused | Union Largecap |
|---|---|---|
| Large Cap | 51.4% | 83.0% |
| Mid Cap | 18.6% | 10.7% |
| Small Cap | 23.1% | 3.6% |
| Not on AMFI's list | 0.0% | 1.7% |
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 | ITI Focused | Union Largecap |
|---|---|---|
| Banks | 14.9% | 26.3% |
| Industrial Products | 14.8% | 0.5% |
| Pharmaceuticals & Biotechnology | 8.0% | 5.2% |
| Chemicals & Petrochemicals | 6.5% | 3.4% |
| Petroleum Products | 4.2% | 5.3% |
| Automobiles | 2.0% | 4.9% |
| Finance | 3.2% | 4.8% |
| Retailing | 0.0% | 4.6% |
| Capital Markets | 4.3% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
ITI Focused vs Union Largecap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ITI Focused Fund | Union Largecap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.90% | 1.68% |
| Base expense ratio (Direct) | 0.59% | 1.34% |
| Total expense ratio (Regular) | 2.59% | 2.58% |
| Base expense ratio (Regular) | 2.07% | 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 ITI Focused with
ITI Focused Fund vs Union Largecap Fund: Frequently Asked Questions
What is the difference between ITI Focused Fund and Union Largecap Fund?
ITI Focused Fund is a Focused fund, Union Largecap Fund is a Large Cap fund, run by ITI Mutual Fund and Union Mutual Fund. Their portfolios overlap 34.5%. ITI Focused Fund charges 0.90% a year and Union Largecap Fund 1.68%.
Which has given higher returns, ITI Focused Fund or Union Largecap Fund?
Over 1 year: ITI Focused Fund −0.70%, Union Largecap Fund −8.09%. Over 3 years: ITI Focused Fund +15.80% a year, Union Largecap Fund +7.81% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ITI Focused Fund or Union Largecap Fund?
ITI Focused Fund charges less: 0.90% a year against 1.68%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ITI Focused Fund and Union Largecap Fund overlap?
34.5%. They hold 13 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, ITI Focused Fund or Union Largecap Fund?
On SEBI's riskometer, ITI Focused Fund is rated Very High and Union Largecap Fund Very High. Over 3 years, the standard deviation of daily returns was 16.09% and 13.72% a year.
Which is better for SIP, ITI Focused Fund or Union Largecap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,10,762 in ITI Focused Fund (XIRR 6.7% a year) and ₹3,70,841 in Union Largecap Fund (XIRR 0.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both ITI Focused Fund and Union Largecap Fund?
Yes. 34.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ITI Focused Fund and Union Largecap Fund?
ITI Focused Fund: Dhimant Shah, Alok Ranjan. Union Largecap Fund: Pratik Dharmshi, Sanjay Bembalkar.
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.