JM Focused Fund vs JM Large Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Focused Fund is a Focused fund and JM Large Cap Fund is a Large Cap fund. In the 3 years to 30-10-2026, JM Focused Fund (Direct) returned 11.0% a year and JM Large Cap Fund (Direct) returned 10.5% a year. JM Focused Fund charges 1.25% a year and JM Large Cap Fund 1.19% (Direct plans). Their portfolios overlap 28.1%: they hold 13 of the same securities.
Which is better, JM Focused or JM Large Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JM Focused returned more over 5 years: 10.7% a year against 9.5%.
- JM Focused returned more over 3 years: 11.0% a year against 10.5%.
- JM Large Cap costs less: 1.19% a year against 1.25% (Direct plans).
- JM Large Cap swung less over 3 years: a standard deviation of 14.9% a year against 16.5%.
- JM Large Cap fell less in its worst fall since 02-01-2013: −19.8% against −37.4%.
- JM Large Cap holds more in large companies: 81.1% of the fund in large caps against 44.0%.
- JM Large Cap is the larger fund: ₹356 Cr against ₹274 Cr.
- Their portfolios overlap 28.1%: 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 | JM Focused Fund | JM Large Cap Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | JM Financial Mutual Fund |
| Category | Focused | Large Cap |
| AUM | ₹274 Cr (30-09-2026) | ₹356 Cr (30-09-2026) |
| NAV | ₹22.36 (Direct) | ₹171.67 (Direct) |
| Expense ratio (Direct) | 1.25% | 1.19% |
| Expense ratio (Regular) | 2.85% | 2.67% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | BSE 100 TRI |
| Launch date | 05-03-2008 | 01-04-1995 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar | Deepak Gupta, Asit Bhandarkar, Satish Ramanathan, Ruchi Fozdar |
| Exit load | Exit load of 1%, if redeemed within 30 days. | Exit load of 1%, if redeemed within 30 days. |
JM Focused vs JM Large Cap: 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 |
|---|---|---|---|---|---|---|---|
| JM Focused Fund (Direct) | −3.31% | −6.29% | −0.66% | −7.99% | +11.02% | +10.67% | +11.82% |
| JM Large Cap Fund (Direct) | +0.56% | −3.71% | +0.05% | −5.72% | +10.48% | +9.46% | +11.44% |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | +10.21% | +13.15% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
Category average: the average of the 28 Focused funds and the 35 Large Cap funds, same plan type.
JM Focused vs JM Large Cap: Year-wise Returns
| Year | FocusedJM Focused | Large CapJM Large Cap |
|---|---|---|
| 2026to date | −5.27% | −6.23% |
| 2025 | −0.33% | +5.51% |
| 2024 | +26.10% | +16.81% |
| 2023 | +34.05% | +30.52% |
| 2022 | +7.94% | +4.17% |
| 2021 | +17.62% | +24.56% |
JM Focused vs JM Large Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of JM Focused Fund
Rolling returns
Every 3-year holding period, 2,667 of them, one for each trading day from 04-01-2016 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.
JM Focused Fund (Direct)
JM Large Cap Fund (Direct)
BSE 500 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Focused | 4.7 | 2.5 | 14.9 | 17.2 | 30.6 | 23.8 | 6.2 | 15.8% | 16.7% | −4.6% | 36.3% | 65% |
| JM Large Cap | 0.0 | 5.2 | 24.2 | 25.2 | 36.4 | 8.9 | 0.0 | 13.4% | 14.0% | 0.7% | 24.0% | 40% |
| BSE 500 TRI | 1.8 | 4.2 | 7.9 | 36.8 | 34.2 | 11.7 | 3.3 | 14.8% | 14.9% | −6.2% | 33.9% | -- |
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 BSE 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 02-01-2013. Past returns do not promise future returns.
JM Focused vs JM Large Cap: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM FocusedJM Focused Fund (Direct) | ₹16,60,000 | ₹43,79,781 | ₹27,19,781 | 13.1% |
| JM Large CapJM Large Cap Fund (Direct) | ₹16,60,000 | ₹39,24,702 | ₹22,64,702 | 11.6% |
JM FocusedJM Focused Fund (Direct)
JM Large CapJM Large Cap 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.
JM Focused vs JM Large Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Focused Fund (Direct) | JM Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.99% | −5.72% |
| Standard deviation | 17.51% | 14.51% |
| Sharpe ratio | -0.76 | -0.76 |
| Sortino ratio | -1.03 | -1.01 |
| Maximum drawdown | −17.7% (23-03-2026) | −14.5% (31-03-2026) |
| Beta | 1.17 | 1.02 |
| Alpha | +1.80% | +3.51% |
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 | JM Focused Fund (Direct) | JM Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.02% | +10.48% |
| Standard deviation | 16.54% | 14.91% |
| Sharpe ratio | 0.30 | 0.30 |
| Sortino ratio | 0.41 | 0.40 |
| Maximum drawdown | −19.5% (23-03-2026) | −19.8% (28-02-2025) |
| Beta | 1.09 | 1.06 |
| Alpha | +0.78% | +1.33% |
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 | JM Focused Fund (Direct) | JM Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.67% | +9.46% |
| Standard deviation | 16.08% | 14.57% |
| Sharpe ratio | 0.30 | 0.25 |
| Sortino ratio | 0.41 | 0.34 |
| Maximum drawdown | −19.5% (23-03-2026) | −19.8% (28-02-2025) |
| Beta | 1.06 | 1.01 |
| Alpha | +1.85% | +1.65% |
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 | JM Focused Fund (Direct) | JM Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.38% | +11.86% |
| Standard deviation | 18.98% | 13.37% |
| Sharpe ratio | 0.39 | 0.43 |
| Sortino ratio | 0.53 | 0.60 |
| Maximum drawdown | −37.4% (23-03-2020) | −19.8% (28-02-2025) |
| Beta | 1.11 | 0.77 |
| Alpha | −0.15% | +1.17% |
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.
JM Focused Fund (Direct)
JM Large Cap Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JM Focused Fund (Direct) | −37.4% | 19-02-2020 | 23-03-2020 | 14-12-2020 | 9 months | −10.0% |
| JM Large Cap Fund (Direct) | −19.8% | 27-09-2024 | 28-02-2025 | Not yet | -- | −9.9% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 02-01-2013, 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.
JM Focused Fund (Direct)
JM Large Cap Fund (Direct)
BSE 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.
JM Focused Fund (Direct)
JM Large Cap Fund (Direct)
BSE 500 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.
JM Focused Fund (Direct)
JM Large Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM Focused Fund (Direct) | 110% | 110% | 8.46% |
| JM Large Cap Fund (Direct) | 83% | 76% | 6.99% |
From month-end values since 02-01-2013. 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.
JM Focused vs JM Large Cap: Portfolio Overlap
From each fund's latest monthly portfolio: JM Focused Fund, September 2026; JM Large Cap Fund, September 2026
Holdings in common
- Overlap
- 28.1%
- Held by both
- 13
- Only in JM Focused
- 14
- Only in JM Large Cap
- 36
| Security | % of JM Focused | % of JM Large Cap |
|---|---|---|
| Larsen & Toubro Limited | 4.53% | 2.90% |
| Adani Port & Special Economic Zone Ltd | 3.87% | 2.88% |
| Bajaj Finance Limited | 4.61% | 2.79% |
| One 97 Communications Limited | 4.60% | 2.69% |
| HDFC Bank Limited | 2.59% | 2.69% |
| Titan Company Limited | 3.69% | 2.50% |
| Shriram Finance Limited | 3.45% | 2.44% |
| Eternal Limited | 4.09% | 2.03% |
| JSW Energy Limited | 1.99% | 1.85% |
| InterGlobe Aviation Limited | 3.48% | 1.77% |
| Billionbrains Garage Ventures Ltd. | 3.65% | 1.30% |
| Samvardhana Motherson International Ltd | 4.17% | 1.24% |
| Lodha Developers Limited | 4.15% | 1.12% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.1% means 28.1% 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 JM Focused Fund
| Security | % of fund |
|---|---|
| Ujjivan Small Finance Bank Limited | 5.05% |
| Honasa Consumer Limited | 4.53% |
| One Source Specialty Pharma Ltd | 4.04% |
| IDFC First Bank Limited | 3.98% |
| Amber Enterprises India Limited | 3.86% |
Largest holdings only in JM Large Cap Fund
| Security | % of fund |
|---|---|
| State Bank of India | 4.56% |
| Bharti Airtel Limited | 3.88% |
| ICICI Bank Limited | 3.56% |
| Reliance Industries Limited | 3.36% |
| Kotak Mahindra Bank Limited | 3.15% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Focused | JM Large Cap |
|---|---|---|
| Equity | 94.2% | 95.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 5.8% | 4.2% |
Market cap of stocks
| Market cap | JM Focused | JM Large Cap |
|---|---|---|
| Large Cap | 44.0% | 81.1% |
| Mid Cap | 23.3% | 13.5% |
| Small Cap | 25.8% | 0.1% |
| Not on AMFI's list | 1.1% | 1.1% |
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 | JM Focused | JM Large Cap |
|---|---|---|
| Banks | 11.6% | 16.9% |
| Auto Components | 10.1% | 1.2% |
| Automobiles | 3.8% | 8.3% |
| Finance | 8.1% | 5.2% |
| Consumer Durables | 7.5% | 2.5% |
| Capital Markets | 6.6% | 5.1% |
| Pharmaceuticals & Biotechnology | 4.0% | 6.3% |
| Financial Technology (Fintech) | 4.6% | 2.7% |
| IT - Software | 0.0% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
JM Focused vs JM Large Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Focused Fund | JM Large Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.25% | 1.19% |
| Base expense ratio (Direct) | 0.72% | 0.82% |
| Total expense ratio (Regular) | 2.85% | 2.67% |
| Base expense ratio (Regular) | 2.10% | 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 JM Focused with
JM Focused Fund vs JM Large Cap Fund: Frequently Asked Questions
What is the difference between JM Focused Fund and JM Large Cap Fund?
JM Focused Fund is a Focused fund, JM Large Cap Fund is a Large Cap fund, run by JM Financial Mutual Fund. Their portfolios overlap 28.1%. JM Focused Fund charges 1.25% a year and JM Large Cap Fund 1.19%.
Which has given higher returns, JM Focused Fund or JM Large Cap Fund?
Over 1 year: JM Focused Fund −7.99%, JM Large Cap Fund −5.72%. Over 3 years: JM Focused Fund +11.02% a year, JM Large Cap Fund +10.48% a year. Over 5 years: JM Focused Fund +10.67% a year, JM Large Cap Fund +9.46% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Focused Fund or JM Large Cap Fund?
JM Large Cap Fund charges less: 1.19% a year against 1.25%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Focused Fund and JM Large Cap Fund overlap?
28.1%. They hold 13 of the same securities, the largest shared ones being LT, ADANIPORTS, BAJFINANCE. From each fund's latest monthly portfolio.
Which is riskier, JM Focused Fund or JM Large Cap Fund?
On SEBI's riskometer, JM Focused Fund is rated Very High and JM Large Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 16.54% and 14.91% a year.
Which is better for SIP, JM Focused Fund or JM Large Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,74,889 in JM Focused Fund (XIRR 9.4% a year) and ₹7,49,911 in JM Large Cap Fund (XIRR 8.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM Focused Fund and JM Large Cap Fund?
Yes. 28.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Focused Fund and JM Large Cap Fund?
JM Focused Fund: Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar. JM Large Cap Fund: Deepak Gupta, Asit Bhandarkar, Satish Ramanathan, Ruchi Fozdar.
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.