JioBlackRock Liquid Fund vs Union Liquid Fund
Direct Plan, Growth option · Data as on 30-10-2026
JioBlackRock Liquid Fund and Union Liquid Fund are both Liquid funds. In the year to 30-10-2026, JioBlackRock Liquid Fund (Direct) returned 6.5% and Union Liquid Fund (Direct) returned 6.5%. JioBlackRock Liquid Fund charges 0.10% a year and Union Liquid Fund 0.07% (Direct plans). Their portfolios overlap 15.6%: they hold 13 of the same securities.
JioBlackRock Liquid Fund
Liquid
- 1 year return
- 6.5%
- Expense ratio
- 0.10%
- NAV
- ₹1,085.36
Which is better, JioBlackRock Liquid or Union Liquid? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JioBlackRock Liquid returned more over 1 year: 6.5% against 6.5%.
- Union Liquid costs less: 0.07% a year against 0.10% (Direct plans).
- Union Liquid fell less in its worst fall since 06-07-2025: −0.0% against −0.0%.
- JioBlackRock Liquid is the larger fund: ₹8,256 Cr against ₹5,014 Cr.
- Their portfolios overlap 15.6%: 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 | JioBlackRock Liquid Fund | Union Liquid Fund |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | Union Mutual Fund |
| Category | Liquid | Liquid |
| AUM | ₹8,256 Cr (30-09-2026) | ₹5,014 Cr (30-09-2026) |
| NAV | ₹1,085.36 (Direct) | ₹2,760.26 (Direct) |
| Expense ratio (Direct) | 0.10% | 0.07% |
| Expense ratio (Regular) | 0.23% | 0.17% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Liquid Index A-I | CRISIL Liquid Debt A-I Index . CRISIL Benchmark Disclaimer: CRISIL Indices are the sole property of CRISIL Limited (CRIS |
| Launch date | 04-07-2025 | 15-06-2011 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Arun Ramachandran, Vikrant Mehta, Siddharth Deb | Devesh Thacker, Parijat Agrawal |
| Exit load | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. |
JioBlackRock Liquid vs Union Liquid: 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 |
|---|---|---|---|---|---|---|---|
| JioBlackRock Liquid Fund (Direct) | +0.45% | +1.52% | +3.21% | +6.53% | -- | -- | -- |
| Union Liquid Fund (Direct) | +0.46% | +1.51% | +3.18% | +6.46% | +6.92% | +6.44% | +5.72% |
| Liquid average | +0.44% | +1.46% | +3.06% | +6.23% | +6.66% | +6.18% | +5.85% |
Category average: the average of the 44 Liquid funds, same plan type.
JioBlackRock Liquid vs Union Liquid: Year-wise Returns
| Year | JioBlackRockJioBlackRock Liquid | UnionUnion Liquid |
|---|---|---|
| 2026to date | +5.46% | +5.39% |
| 2025 | -- | +6.62% |
| 2024 | -- | +7.46% |
| 2023 | -- | +7.15% |
| 2022 | -- | +4.95% |
| 2021 | -- | +3.38% |
JioBlackRock Liquid vs Union Liquid: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 112 of them, one for each trading day from 06-07-2026 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.
JioBlackRock Liquid Fund (Direct)
Union Liquid Fund (Direct)
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JioBlackRock Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.4% | 6.6% |
| Union Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.3% | 6.5% |
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. Every fund is measured over the days all of them have, from 06-07-2025. Past returns do not promise future returns.
JioBlackRock Liquid vs Union Liquid: 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 06-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JioBlackRock LiquidJioBlackRock Liquid Fund (Direct) | ₹1,60,000 | ₹1,67,287 | ₹7,287 | 6.5% |
| Union LiquidUnion Liquid Fund (Direct) | ₹1,60,000 | ₹1,67,227 | ₹7,227 | 6.4% |
JioBlackRock LiquidJioBlackRock Liquid Fund (Direct)
Union LiquidUnion Liquid 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.
JioBlackRock Liquid vs Union Liquid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JioBlackRock Liquid Fund (Direct) | Union Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.53% | +6.46% |
| Standard deviation | 0.20% | 0.17% |
| Sharpe ratio | 6.49 | 7.02 |
| Sortino ratio | 17.35 | 19.75 |
| Maximum drawdown | −0.0% (23-10-2026) | −0.0% (15-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | JioBlackRock Liquid Fund (Direct) | Union Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.36% | +6.53% |
| Standard deviation | 0.18% | 0.76% |
| Sharpe ratio | 5.95 | 0.64 |
| Sortino ratio | 15.88 | 0.65 |
| Maximum drawdown | −0.0% (23-10-2026) | −3.3% (18-09-2018) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 07-07-2025 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.
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.
JioBlackRock Liquid Fund (Direct)
Union Liquid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JioBlackRock Liquid Fund (Direct) | −0.0% | 20-10-2026 | 23-10-2026 | 25-10-2026 | 2 days | 0.0% |
| Union Liquid Fund (Direct) | −0.0% | 14-10-2026 | 15-10-2026 | 16-10-2026 | 1 days | 0.0% |
From daily values since 06-07-2025, 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.
JioBlackRock Liquid Fund (Direct)
Union Liquid Fund (Direct)
JioBlackRock Liquid vs Union Liquid: Portfolio Overlap
From each fund's latest monthly portfolio: JioBlackRock Liquid Fund, September 2026; Union Liquid Fund, September 2026
Holdings in common
- Overlap
- 15.6%
- Held by both
- 13
- Only in JioBlackRock Liquid
- 31
- Only in Union Liquid
- 60
| Security | % of JioBlackRock Liquid | % of Union Liquid |
|---|---|---|
| 91 DTB (27-NOV-2026) | 2.40% | 3.76% |
| 7.95% Sikka Ports & Terminals Ltd (28-Oct-2026) | 5.76% | 2.36% |
| 91 DTB (29-OCT-2026) | 5.73% | 2.28% |
| LIC Housing Finance Ltd (11-Nov-2026) | 4.21% | 1.98% |
| HDFC Securities Ltd (07-Dec-2026) | 2.99% | 1.48% |
| 91 DTB (05-NOV-2026) | 4.10% | 0.99% |
| Export-Import Bank Of India (04-Dec-2026) | 1.20% | 0.99% |
| Axis Securities Ltd (04-Nov-2026) | 0.90% | 0.99% |
| 91 DTB (12-NOV-2026) | 0.60% | 1.39% |
| Bank of Baroda (07-Dec-2026) | 0.60% | 1.97% |
| HDFC Bank Ltd (06-Nov-2026) | 0.90% | 0.50% |
| Axis Bank Ltd (16-Dec-2026) | 0.30% | 0.49% |
| Corporate Debt Market Development Fund Class A2 | 0.22% | 0.36% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.6% means 15.6% 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 JioBlackRock Liquid Fund
| Security | % of fund |
|---|---|
| Canara Bank (23-Nov-2026) | 7.80% |
| HDFC Bank Ltd (04-Dec-2026) | 7.19% |
| National Bank For Agriculture & Rural Development (23-Nov-2026) | 6.00% |
| ICICI Securities Ltd (26-Nov-2026) | 3.59% |
| HDFC Bank Ltd (14-Dec-2026) | 3.59% |
Largest holdings only in Union Liquid Fund
| Security | % of fund |
|---|---|
| Bank of Baroda | 3.94% |
| HDFC Bank Ltd. | 2.97% |
| Alembic Pharmaceuticals Ltd. | 2.95% |
| HDFC Bank Ltd. | 2.95% |
| 91 Day Treasury Bills | 2.48% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JioBlackRock Liquid | Union Liquid |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 106.0% | 111.4% |
| Cash and others | -6.0% | -11.4% |
JioBlackRock Liquid vs Union Liquid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JioBlackRock Liquid Fund | Union Liquid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.10% | 0.07% |
| Base expense ratio (Direct) | 0.09% | 0.06% |
| Total expense ratio (Regular) | 0.23% | 0.17% |
| Base expense ratio (Regular) | 0.20% | 0.15% |
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 JioBlackRock Liquid with
JioBlackRock Liquid Fund vs Union Liquid Fund: Frequently Asked Questions
What is the difference between JioBlackRock Liquid Fund and Union Liquid Fund?
Both are Liquid funds, run by Jio BlackRock Mutual Fund and Union Mutual Fund. Their portfolios overlap 15.6%. JioBlackRock Liquid Fund charges 0.10% a year and Union Liquid Fund 0.07%.
Which has given higher returns, JioBlackRock Liquid Fund or Union Liquid Fund?
Over 1 year: JioBlackRock Liquid Fund +6.53%, Union Liquid Fund +6.46%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JioBlackRock Liquid Fund or Union Liquid Fund?
Union Liquid Fund charges less: 0.07% a year against 0.10%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JioBlackRock Liquid Fund and Union Liquid Fund overlap?
15.6%. They hold 13 of the same securities, the largest shared ones being 91 DTB (27-NOV-2026), 7.95% Sikka Ports & Terminals Ltd (28-Oct-2026), 91 DTB (29-OCT-2026). From each fund's latest monthly portfolio.
Which is riskier, JioBlackRock Liquid Fund or Union Liquid Fund?
On SEBI's riskometer, JioBlackRock Liquid Fund is rated Low to Moderate and Union Liquid Fund Low to Moderate. Over 1 years, the standard deviation of daily returns was 0.20% and 0.17% a year.
Can I invest in both JioBlackRock Liquid Fund and Union Liquid Fund?
Yes. 15.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JioBlackRock Liquid Fund and Union Liquid Fund?
JioBlackRock Liquid Fund: Arun Ramachandran, Vikrant Mehta, Siddharth Deb. Union Liquid Fund: Devesh Thacker, Parijat Agrawal.
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.