JM Large Cap Fund vs LIC MF Nifty 100 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
JM Large Cap Fund is a Large Cap fund and LIC MF Nifty 100 ETF is an ETF fund. In the 3 years to 30-10-2026, JM Large Cap Fund (Direct) returned 10.5% a year and LIC MF Nifty 100 ETF returned 8.8% a year. JM Large Cap Fund charges 1.19% a year and LIC MF Nifty 100 ETF 0.30%. Their portfolios overlap 51.5%: they hold 39 of the same securities.
Which is better, JM Large Cap or LIC MF Nifty 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JM Large Cap returned more over 5 years: 9.5% a year against 6.9%.
- JM Large Cap returned more over 3 years: 10.5% a year against 8.8%.
- LIC MF Nifty 100 ETF costs less: 0.30% a year against 1.19%.
- LIC MF Nifty 100 ETF swung less over 3 years: a standard deviation of 13.7% a year against 14.9%.
- JM Large Cap fell less in its worst fall since 18-03-2016: −19.8% against −38.0%.
- LIC MF Nifty 100 ETF holds more in large companies: 97.6% of the fund in large caps against 81.1%.
- LIC MF Nifty 100 ETF is the larger fund: ₹698 Cr against ₹356 Cr.
- Their portfolios overlap 51.5%: 39 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 Large Cap Fund | LIC MF Nifty 100 ETF |
|---|---|---|
| Fund house | JM Financial Mutual Fund | LIC Mutual Fund |
| Category | Large Cap | ETF |
| AUM | ₹356 Cr (30-09-2026) | ₹698 Cr (30-09-2026) |
| NAV | ₹171.67 (Direct) | ₹263.09 |
| Expense ratio (Direct) | 1.19% | Not available |
| Expense ratio (Regular) | 2.67% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | BSE 100 TRI | Nifty 100 TRI |
| Launch date | 01-04-1995 | 17-03-2016 |
| Minimum investment | ₹1,000 | For Subscription of units directly with Mutual Fund: All direct transactions in units of the Scheme by MMs/APs or other eligible investors with the AMC/the Fund shall be at intra-day NAV based on the actual execution price of the underlying portfolio. Any |
| Lock in | None | None |
| Fund managers | Deepak Gupta, Asit Bhandarkar, Satish Ramanathan, Ruchi Fozdar | Nikhil Kapoor, Sasikant Aravamuthan |
| Exit load | Exit load of 1%, if redeemed within 30 days. | Nil |
JM Large Cap vs LIC MF Nifty 100 ETF: 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 Large Cap Fund (Direct) | +0.56% | −3.71% | +0.05% | −5.72% | +10.48% | +9.46% | +11.44% |
| LIC MF Nifty 100 ETF | +1.02% | −5.36% | −3.05% | −8.92% | +8.77% | +6.92% | +11.38% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
Category average: the average of the 35 Large Cap funds, same plan type.
JM Large Cap vs LIC MF Nifty 100 ETF: Year-wise Returns
| Year | JM Large CapJM Large Cap | LIC MF Nifty 100 ETFLIC MF Nifty 100 ETF |
|---|---|---|
| 2026to date | −6.23% | −9.51% |
| 2025 | +5.51% | +9.95% |
| 2024 | +16.81% | +12.58% |
| 2023 | +30.52% | +20.76% |
| 2022 | +4.17% | +4.76% |
| 2021 | +24.56% | +25.98% |
JM Large Cap vs LIC MF Nifty 100 ETF: Rolling Returns
Every holding period of both funds, against BSE 100 TRI, the benchmark of JM Large Cap Fund
Rolling returns
Every 3-year holding period, 1,877 of them, one for each trading day from 18-03-2019 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 Large Cap Fund (Direct)
LIC MF Nifty 100 ETF
BSE 100 TRI
to
Oct 2019Feb 2018
to
Feb 2021May 2019
to
May 2022Sept 2020
to
Sept 2023Dec 2021
to
Dec 2024Mar 2023
to
Mar 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Large Cap | 0.0 | 6.4 | 18.3 | 23.8 | 40.3 | 11.1 | 0.0 | 14.0% | 15.2% | 0.7% | 24.0% | 46% |
| LIC MF Nifty 100 ETF | 1.6 | 5.6 | 10.5 | 42.9 | 31.5 | 6.4 | 1.5 | 13.7% | 14.1% | −5.3% | 31.0% | 0% |
| BSE 100 TRI | 1.5 | 5.3 | 9.2 | 35.6 | 37.6 | 7.8 | 2.9 | 14.5% | 14.9% | −5.2% | 32.8% | -- |
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 100 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 18-03-2016. Past returns do not promise future returns.
JM Large Cap vs LIC MF Nifty 100 ETF: 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 01-03-2016 to 30-10-2026: 128 instalments, ₹12,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Large CapJM Large Cap Fund (Direct) | ₹12,80,000 | ₹24,25,358 | ₹11,45,358 | 11.5% |
| LIC MF Nifty 100 ETFLIC MF Nifty 100 ETF | ₹12,80,000 | ₹23,04,172 | ₹10,24,172 | 10.6% |
JM Large CapJM Large Cap Fund (Direct)
LIC MF Nifty 100 ETFLIC MF Nifty 100 ETF
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 Large Cap vs LIC MF Nifty 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Large Cap Fund (Direct) | LIC MF Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | −5.72% | −8.92% |
| Standard deviation | 14.51% | 14.02% |
| Sharpe ratio | -0.76 | -1.01 |
| Sortino ratio | -1.01 | -1.34 |
| Maximum drawdown | −14.5% (31-03-2026) | −14.9% (31-03-2026) |
| Beta | 1.02 | 1.00 |
| Alpha | +3.51% | −0.26% |
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 Large Cap Fund (Direct) | LIC MF Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | +10.48% | +8.77% |
| Standard deviation | 14.91% | 13.69% |
| Sharpe ratio | 0.30 | 0.20 |
| Sortino ratio | 0.40 | 0.28 |
| Maximum drawdown | −19.8% (28-02-2025) | −17.3% (28-02-2025) |
| Beta | 1.06 | 1.00 |
| Alpha | +1.33% | −0.31% |
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 Large Cap Fund (Direct) | LIC MF Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | +9.46% | +6.92% |
| Standard deviation | 14.57% | 13.98% |
| Sharpe ratio | 0.25 | 0.08 |
| Sortino ratio | 0.34 | 0.11 |
| Maximum drawdown | −19.8% (28-02-2025) | −17.3% (28-02-2025) |
| Beta | 1.01 | 1.00 |
| Alpha | +1.65% | −0.30% |
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 Large Cap Fund (Direct) | LIC MF Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | +11.86% | +12.32% |
| Standard deviation | 13.37% | 15.80% |
| Sharpe ratio | 0.43 | 0.43 |
| Sortino ratio | 0.60 | 0.59 |
| Maximum drawdown | −19.8% (28-02-2025) | −38.0% (23-03-2020) |
| Beta | 0.77 | 1.00 |
| Alpha | +1.17% | −0.32% |
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 Large Cap Fund (Direct)
LIC MF Nifty 100 ETF
BSE 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JM Large Cap Fund (Direct) | −19.8% | 27-09-2024 | 28-02-2025 | Not yet | -- | −9.9% |
| LIC MF Nifty 100 ETF | −38.0% | 17-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −10.5% |
| BSE 100 TRI | −38.0% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.4% |
From daily values since 18-03-2016, 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 Large Cap Fund (Direct)
LIC MF Nifty 100 ETF
BSE 100 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 Large Cap Fund (Direct)
LIC MF Nifty 100 ETF
BSE 100 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 Large Cap Fund (Direct)
LIC MF Nifty 100 ETF
BSE 100 TRI
Against BSE 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM Large Cap Fund (Direct) | 81% | 73% | 7.31% |
| LIC MF Nifty 100 ETF | 99% | 102% | 0.76% |
From month-end values since 18-03-2016. 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 Large Cap vs LIC MF Nifty 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: JM Large Cap Fund, September 2026; LIC MF Nifty 100 ETF, September 2026
Holdings in common
- Overlap
- 51.5%
- Held by both
- 39
- Only in JM Large Cap
- 10
- Only in LIC MF Nifty 100 ETF
- 61
| Security | % of JM Large Cap | % of LIC MF Nifty 100 ETF |
|---|---|---|
| Bharti Airtel Limited | 3.88% | 4.10% |
| ICICI Bank Limited | 3.56% | 7.28% |
| Reliance Industries Limited | 3.36% | 6.09% |
| State Bank of India | 4.56% | 3.05% |
| Larsen & Toubro Limited | 2.90% | 3.38% |
| Axis Bank Limited | 2.88% | 2.71% |
| HDFC Bank Limited | 2.69% | 8.34% |
| Kotak Mahindra Bank Limited | 3.15% | 2.36% |
| Bajaj Finance Limited | 2.79% | 2.02% |
| Mahindra & Mahindra Limited | 2.47% | 2.02% |
| Eternal Limited | 2.03% | 1.78% |
| Titan Company Limited | 2.50% | 1.46% |
| Maruti Suzuki India Limited | 1.77% | 1.20% |
| Tata Steel Limited | 1.23% | 1.18% |
| Infosys Limited | 1.15% | 2.70% |
| Vedanta Aluminium Metal Limited | 1.74% | 1.10% |
| Shriram Finance Limited | 2.44% | 1.07% |
| Bharat Electronics Limited | 1.32% | 1.06% |
| Adani Port & Special Economic Zone Ltd | 2.88% | 1.05% |
| UltraTech Cement Limited | 1.80% | 1.01% |
| Divi's Laboratories Limited | 2.08% | 0.92% |
| Bajaj Auto Limited | 1.84% | 0.91% |
| InterGlobe Aviation Limited | 1.77% | 0.89% |
| TVS Motor Company Limited | 2.25% | 0.75% |
| Tech Mahindra Limited | 1.76% | 0.75% |
| BSE Ltd | 0.90% | 0.74% |
| Adani Power Limited | 1.09% | 0.67% |
| Apollo Hospitals Enterprise Limited | 2.70% | 0.66% |
| Adani Enterprises Limited | 1.16% | 0.66% |
| Torrent Pharmaceuticals Limited | 2.80% | 0.56% |
| Samvardhana Motherson International Ltd | 1.24% | 0.56% |
| Cummins India Limited | 1.37% | 0.51% |
| Tata Consumer Products Limited | 1.67% | 0.48% |
| CG Power And Industrial Solutions Ltd | 1.10% | 0.46% |
| Solar Industries India Limited | 1.19% | 0.37% |
| Hitachi Energy India Limited | 1.33% | 0.30% |
| LTM Limited | 1.32% | 0.29% |
| Zydus Lifesciences Limited | 1.44% | 0.23% |
| Polycab India Limited | 1.12% | 0.20% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.5% means 51.5% 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 JM Large Cap Fund
| Security | % of fund |
|---|---|
| One 97 Communications Limited | 2.69% |
| The Indian Hotels Company Limited | 1.96% |
| JSW Energy Limited | 1.85% |
| 360 ONE WAM LIMITED | 1.80% |
| United Spirits Limited | 1.75% |
Largest holdings only in LIC MF Nifty 100 ETF
| Security | % of fund |
|---|---|
| ITC Ltd. | 1.94% |
| Tata Consultancy Services Ltd. | 1.60% |
| Sun Pharmaceutical Industries Ltd. | 1.48% |
| Hindustan Unilever Ltd. | 1.28% |
| NTPC Ltd. | 1.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Large Cap | LIC MF Nifty 100 ETF |
|---|---|---|
| Equity | 95.8% | 99.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.2% | 0.3% |
Market cap of stocks
| Market cap | JM Large Cap | LIC MF Nifty 100 ETF |
|---|---|---|
| Large Cap | 81.1% | 97.6% |
| Mid Cap | 13.5% | 2.0% |
| Small Cap | 0.1% | 0.0% |
| Not on AMFI's list | 1.1% | 0.0% |
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 Large Cap | LIC MF Nifty 100 ETF |
|---|---|---|
| Banks | 16.9% | 24.9% |
| Automobiles | 8.3% | 6.3% |
| Petroleum Products | 3.4% | 7.0% |
| IT - Software | 4.2% | 6.7% |
| Pharmaceuticals & Biotechnology | 6.3% | 4.4% |
| Finance | 5.2% | 6.2% |
| Capital Markets | 5.1% | 1.1% |
The six largest sectors of each fund's stocks, % of the fund.
JM Large Cap vs LIC MF Nifty 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Large Cap Fund | LIC MF Nifty 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.19% | Not available |
| Base expense ratio (Direct) | 0.82% | 0.00% |
| Total expense ratio (Regular) | 2.67% | Not available |
| Base expense ratio (Regular) | 2.10% | 0.24% |
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
JM Large Cap Fund vs LIC MF Nifty 100 ETF: Frequently Asked Questions
What is the difference between JM Large Cap Fund and LIC MF Nifty 100 ETF?
JM Large Cap Fund is a Large Cap fund, LIC MF Nifty 100 ETF is an ETF fund, run by JM Financial Mutual Fund and LIC Mutual Fund. Their portfolios overlap 51.5%. JM Large Cap Fund charges 1.19% a year and LIC MF Nifty 100 ETF 0.30%.
Which has given higher returns, JM Large Cap Fund or LIC MF Nifty 100 ETF?
Over 1 year: JM Large Cap Fund −5.72%, LIC MF Nifty 100 ETF −8.92%. Over 3 years: JM Large Cap Fund +10.48% a year, LIC MF Nifty 100 ETF +8.77% a year. Over 5 years: JM Large Cap Fund +9.46% a year, LIC MF Nifty 100 ETF +6.92% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Large Cap Fund or LIC MF Nifty 100 ETF?
LIC MF Nifty 100 ETF charges less: 0.30% a year against 1.19%. These are the total expense ratios reported to AMFI.
How much do JM Large Cap Fund and LIC MF Nifty 100 ETF overlap?
51.5%. They hold 39 of the same securities, the largest shared ones being BHARTIARTL, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, JM Large Cap Fund or LIC MF Nifty 100 ETF?
On SEBI's riskometer, JM Large Cap Fund is rated Very High and LIC MF Nifty 100 ETF Very High. Over 3 years, the standard deviation of daily returns was 14.91% and 13.69% a year.
Which is better for SIP, JM Large Cap Fund or LIC MF Nifty 100 ETF?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,49,911 in JM Large Cap Fund (XIRR 8.1% a year) and ₹7,05,460 in LIC MF Nifty 100 ETF (XIRR 5.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM Large Cap Fund and LIC MF Nifty 100 ETF?
Yes. 51.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages JM Large Cap Fund and LIC MF Nifty 100 ETF?
JM Large Cap Fund: Deepak Gupta, Asit Bhandarkar, Satish Ramanathan, Ruchi Fozdar. LIC MF Nifty 100 ETF: Nikhil Kapoor, Sasikant Aravamuthan.
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.