JM Large Cap Fund vs Tata Retirement Savings Fund Moderate
Direct Plan, Growth option · Data as on 30-10-2026
JM Large Cap Fund is a Large Cap fund and Tata Retirement Savings Fund Moderate is a Solution fund. In the 3 years to 30-10-2026, JM Large Cap Fund (Direct) returned 10.5% a year and Tata Retirement Savings Fund Moderate (Direct) returned 11.1% a year. JM Large Cap Fund charges 1.19% a year and Tata Retirement Savings Fund Moderate 0.84% (Direct plans). Their portfolios overlap 28.5%: they hold 18 of the same securities.
Tata Retirement Savings Fund Moderate
Solution
- 3 year return
- 11.1%
- Expense ratio
- 0.84%
- NAV
- ₹76.99
Which is better, JM Large Cap or Tata Retirement Savings Fund Moderate? 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 9.3%.
- Tata Retirement Savings Fund Moderate returned more over 3 years: 11.1% a year against 10.5%.
- Tata Retirement Savings Fund Moderate costs less: 0.84% a year against 1.19% (Direct plans).
- Tata Retirement Savings Fund Moderate swung less over 3 years: a standard deviation of 12.5% a year against 14.9%.
- JM Large Cap fell less in its worst fall since 04-01-2013: −19.8% against −29.6%.
- JM Large Cap holds more in large companies: 81.1% of the fund in large caps against 43.1%.
- Tata Retirement Savings Fund Moderate is the larger fund: ₹2,115 Cr against ₹356 Cr.
- Their portfolios overlap 28.5%: 18 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 | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Tata Mutual Fund |
| Category | Large Cap | Solution |
| AUM | ₹356 Cr (30-09-2026) | ₹2,115 Cr (30-09-2026) |
| NAV | ₹171.67 (Direct) | ₹76.99 (Direct) |
| Expense ratio (Direct) | 1.19% | 0.84% |
| Expense ratio (Regular) | 2.67% | 2.17% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 100 TRI | CRISIL Hybrid 25+75 - Aggressive Index |
| Launch date | 01-04-1995 | 01-11-2011 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | 5 years, or until retirement if earlier |
| Fund managers | Deepak Gupta, Asit Bhandarkar, Satish Ramanathan, Ruchi Fozdar | Sonam Udasi, Murthy Nagarajan, Amit Somani |
| Exit load | Exit load of 1%, if redeemed within 30 days. | A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age - Nil. B) In case of Auto switch-out of units on occurrence of “Auto-switch trigger event” - Nil. C) 1% -If redeemed before 61 months from the date of allotment. |
JM Large Cap vs Tata Retirement Savings Fund Moderate: 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% |
| Tata Retirement Savings Fund Moderate (Direct) | −2.36% | −5.91% | −0.55% | −1.37% | +11.08% | +9.31% | +12.14% |
| 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 Tata Retirement Savings Fund Moderate: Year-wise Returns
| Year | JM Large CapJM Large Cap | Tata Retirement Savings Fund ModerateTata Retirement Savings Fund Moderate |
|---|---|---|
| 2026to date | −6.23% | −1.13% |
| 2025 | +5.51% | +2.48% |
| 2024 | +16.81% | +21.22% |
| 2023 | +30.52% | +27.12% |
| 2022 | +4.17% | −0.46% |
| 2021 | +24.56% | +22.26% |
JM Large Cap vs Tata Retirement Savings Fund Moderate: 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, 2,671 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 Large Cap Fund (Direct)
Tata Retirement Savings Fund Moderate (Direct)
BSE 100 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 Large Cap | 0.0 | 5.2 | 24.2 | 25.2 | 36.4 | 8.9 | 0.0 | 13.4% | 14.0% | 0.7% | 24.0% | 48% |
| Tata Retirement Savings Fund Moderate | 0.1 | 3.1 | 8.1 | 35.1 | 38.4 | 9.5 | 5.7 | 15.4% | 15.4% | −1.2% | 30.0% | 59% |
| BSE 100 TRI | 1.0 | 3.7 | 12.0 | 43.7 | 31.9 | 5.5 | 2.1 | 13.8% | 14.1% | −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 04-01-2013. Past returns do not promise future returns.
JM Large Cap vs Tata Retirement Savings Fund Moderate: 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 Large CapJM Large Cap Fund (Direct) | ₹16,60,000 | ₹39,24,702 | ₹22,64,702 | 11.6% |
| Tata Retirement Savings Fund ModerateTata Retirement Savings Fund Moderate (Direct) | ₹16,60,000 | ₹43,80,022 | ₹27,20,022 | 13.1% |
JM Large CapJM Large Cap Fund (Direct)
Tata Retirement Savings Fund ModerateTata Retirement Savings Fund Moderate (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 Large Cap vs Tata Retirement Savings Fund Moderate: 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) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | −5.72% | −1.37% |
| Standard deviation | 14.51% | 12.65% |
| Sharpe ratio | -0.76 | -0.52 |
| Sortino ratio | -1.01 | -0.70 |
| Maximum drawdown | −14.5% (31-03-2026) | −12.6% (30-03-2026) |
| Beta | 1.02 | -- |
| Alpha | +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 Large Cap Fund (Direct) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | +10.48% | +11.08% |
| Standard deviation | 14.91% | 12.45% |
| Sharpe ratio | 0.30 | 0.41 |
| Sortino ratio | 0.40 | 0.54 |
| Maximum drawdown | −19.8% (28-02-2025) | −15.1% (03-03-2025) |
| Beta | 1.06 | -- |
| Alpha | +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 Large Cap Fund (Direct) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | +9.46% | +9.31% |
| Standard deviation | 14.57% | 12.00% |
| Sharpe ratio | 0.25 | 0.29 |
| Sortino ratio | 0.34 | 0.39 |
| Maximum drawdown | −19.8% (28-02-2025) | −15.2% (17-06-2022) |
| Beta | 1.01 | -- |
| Alpha | +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 Large Cap Fund (Direct) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | +11.86% | +14.31% |
| Standard deviation | 13.37% | 12.74% |
| Sharpe ratio | 0.43 | 0.65 |
| Sortino ratio | 0.60 | 0.88 |
| Maximum drawdown | −19.8% (28-02-2025) | −29.6% (23-03-2020) |
| Beta | 0.77 | -- |
| Alpha | +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 Large Cap Fund (Direct)
Tata Retirement Savings Fund Moderate (Direct)
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% |
| Tata Retirement Savings Fund Moderate (Direct) | −29.6% | 19-02-2020 | 23-03-2020 | 15-09-2020 | 6 months | −8.1% |
| BSE 100 TRI | −38.0% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.4% |
From daily values since 04-01-2013, 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 Large Cap Fund (Direct)
Tata Retirement Savings Fund Moderate (Direct)
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)
Tata Retirement Savings Fund Moderate (Direct)
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)
Tata Retirement Savings Fund Moderate (Direct)
BSE 100 TRI
Against BSE 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM Large Cap Fund (Direct) | 87% | 79% | 6.71% |
| Tata Retirement Savings Fund Moderate (Direct) | 89% | 68% | 6.32% |
From month-end values since 04-01-2013. 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 Large Cap vs Tata Retirement Savings Fund Moderate: Portfolio Overlap
From each fund's latest monthly portfolio: JM Large Cap Fund, September 2026; Tata Retirement Savings Fund Moderate, September 2026
Holdings in common
- Overlap
- 28.5%
- Held by both
- 18
- Only in JM Large Cap
- 31
- Only in Tata Retirement Savings Fund Moderate
- 48
| Security | % of JM Large Cap | % of Tata Retirement Savings Fund Moderate |
|---|---|---|
| ICICI Bank Limited | 3.56% | 4.27% |
| Reliance Industries Limited | 3.36% | 3.23% |
| Adani Port & Special Economic Zone Ltd | 2.88% | 2.07% |
| Eternal Limited | 2.03% | 3.49% |
| Kotak Mahindra Bank Limited | 3.15% | 1.90% |
| 360 ONE WAM LIMITED | 1.80% | 1.97% |
| One 97 Communications Limited | 2.69% | 1.71% |
| Tata Consumer Products Limited | 1.67% | 1.68% |
| Titan Company Limited | 2.50% | 1.64% |
| Billionbrains Garage Ventures Ltd. | 1.30% | 1.53% |
| Solar Industries India Limited | 1.19% | 4.74% |
| Apollo Hospitals Enterprise Limited | 2.70% | 1.15% |
| Polycab India Limited | 1.12% | 1.48% |
| Adani Power Limited | 1.09% | 1.08% |
| BSE Ltd | 0.90% | 1.58% |
| Shriram Finance Limited | 2.44% | 0.84% |
| Maruti Suzuki India Limited | 1.77% | 0.76% |
| Vedanta Aluminium Metal Limited | 1.74% | 0.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.5% means 28.5% 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 |
|---|---|
| State Bank of India | 4.56% |
| Bharti Airtel Limited | 3.88% |
| Larsen & Toubro Limited | 2.90% |
| Axis Bank Limited | 2.88% |
| Torrent Pharmaceuticals Limited | 2.80% |
Largest holdings only in Tata Retirement Savings Fund Moderate
| Security | % of fund |
|---|---|
| MULTI COMMODITY EXCHANGE OF IND LTD | 3.23% |
| RADICO KHAITAN LTD | 2.60% |
| GOI - 6.36% (16/02/2031) | 2.09% |
| KIRLOSKAR PNEUMATIC COMPANY LTD | 1.95% |
| KARUR VYSYA BANK LTD | 1.93% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Large Cap | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Equity | 95.8% | 79.1% |
| Debt | 0.0% | 14.1% |
| Cash and others | 4.2% | 6.9% |
Market cap of stocks
| Market cap | JM Large Cap | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Large Cap | 81.1% | 43.1% |
| Mid Cap | 13.5% | 17.1% |
| Small Cap | 0.1% | 16.9% |
| Not on AMFI's list | 1.1% | 1.9% |
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 | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Banks | 16.9% | 9.1% |
| Capital Markets | 5.1% | 9.9% |
| Automobiles | 8.3% | 1.9% |
| Pharmaceuticals & Biotechnology | 6.3% | 2.2% |
| Finance | 5.2% | 2.8% |
| Chemicals & Petrochemicals | 2.1% | 4.7% |
| IT - Software | 4.2% | 2.7% |
| Industrial Products | 2.5% | 4.1% |
| Retailing | 2.0% | 3.5% |
| Beverages | 1.8% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
JM Large Cap vs Tata Retirement Savings Fund Moderate: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Large Cap Fund | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Total expense ratio (Direct) | 1.19% | 0.84% |
| Base expense ratio (Direct) | 0.82% | 0.60% |
| Total expense ratio (Regular) | 2.67% | 2.17% |
| Base expense ratio (Regular) | 2.10% | 1.75% |
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 Tata Retirement Savings Fund Moderate: Frequently Asked Questions
What is the difference between JM Large Cap Fund and Tata Retirement Savings Fund Moderate?
JM Large Cap Fund is a Large Cap fund, Tata Retirement Savings Fund Moderate is a Solution fund, run by JM Financial Mutual Fund and Tata Mutual Fund. Their portfolios overlap 28.5%. JM Large Cap Fund charges 1.19% a year and Tata Retirement Savings Fund Moderate 0.84%.
Which has given higher returns, JM Large Cap Fund or Tata Retirement Savings Fund Moderate?
Over 1 year: JM Large Cap Fund −5.72%, Tata Retirement Savings Fund Moderate −1.37%. Over 3 years: JM Large Cap Fund +10.48% a year, Tata Retirement Savings Fund Moderate +11.08% a year. Over 5 years: JM Large Cap Fund +9.46% a year, Tata Retirement Savings Fund Moderate +9.31% 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 Tata Retirement Savings Fund Moderate?
Tata Retirement Savings Fund Moderate charges less: 0.84% a year against 1.19%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Large Cap Fund and Tata Retirement Savings Fund Moderate overlap?
28.5%. They hold 18 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, ADANIPORTS. From each fund's latest monthly portfolio.
Which is riskier, JM Large Cap Fund or Tata Retirement Savings Fund Moderate?
On SEBI's riskometer, JM Large Cap Fund is rated Very High and Tata Retirement Savings Fund Moderate Very High. Over 3 years, the standard deviation of daily returns was 14.91% and 12.45% a year.
Which is better for SIP, JM Large Cap Fund or Tata Retirement Savings Fund Moderate?
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 ₹7,71,460 in Tata Retirement Savings Fund Moderate (XIRR 9.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM Large Cap Fund and Tata Retirement Savings Fund Moderate?
Yes. 28.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Large Cap Fund and Tata Retirement Savings Fund Moderate?
JM Large Cap Fund: Deepak Gupta, Asit Bhandarkar, Satish Ramanathan, Ruchi Fozdar. Tata Retirement Savings Fund Moderate: Sonam Udasi, Murthy Nagarajan, Amit Somani.
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.