JM Large & Mid Cap Fund vs Mahindra Manulife Innovation Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Large & Mid Cap Fund is a Large & Mid Cap fund and Mahindra Manulife Innovation Opportunities Fund is a Thematic fund. JM Large & Mid Cap Fund charges 1.04% a year and Mahindra Manulife Innovation Opportunities Fund 0.98% (Direct plans). Their portfolios overlap 39.7%: they hold 25 of the same securities.
Mahindra Manulife Innovation Opportunities Fund
Thematic
- Expense ratio
- 0.98%
- NAV
- ₹10.45
Which is better, JM Large & Mid Cap or Mahindra Manulife Innovation Opportunities? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mahindra Manulife Innovation Opportunities costs less: 0.98% a year against 1.04% (Direct plans).
- Mahindra Manulife Innovation Opportunities fell less in its worst fall since 02-02-2026: −11.4% against −13.3%.
- JM Large & Mid Cap is the larger fund: ₹448 Cr against ₹257 Cr.
- Their portfolios overlap 39.7%: 25 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 & Mid Cap Fund | Mahindra Manulife Innovation Opportunities Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Large & Mid Cap | Thematic |
| AUM | ₹448 Cr (30-09-2026) | ₹257 Cr (30-09-2026) |
| NAV | ₹10.20 (Direct) | ₹10.45 (Direct) |
| Expense ratio (Direct) | 1.04% | 0.98% |
| Expense ratio (Regular) | 2.72% | 2.57% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty 500 TRI |
| Launch date | 25-07-2025 | 30-01-2026 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar | Kirti Dalvi, Renjith Sivaram Radhakrishnan |
| Exit load | In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 180 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 180 days from the date of allotment. No Entry / Exit Load shall be levied on units allotted on Reinvestment of Income Distribution cum Capital Withdrawal Option In respect of Systematic Transactions such as SIP, STP, SWP, Exit Load, if any, prevailing on the date of registration / enrolment for SIP/STP/SWP shall be levied for all the opted Installments. | Exit Load (as % of NAV) #: -An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; -Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). # Applicable for normal subscriptions / redemptions including transactions under special products such as SIP, SWP, switches, etc. offered by the AMC. For detailed load structure disclosure, please refer SID. |
JM Large & Mid Cap vs Mahindra Manulife Innovation Opportunities: 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 & Mid Cap Fund (Direct) | −2.28% | −4.94% | +1.48% | −4.09% | -- | -- | -- |
| Mahindra Manulife Innovation Opportunities Fund (Direct) | −1.59% | −5.20% | +2.61% | -- | -- | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 36 Large & Mid Cap funds and the 235 Thematic funds, same plan type.
JM Large & Mid Cap vs Mahindra Manulife Innovation Opportunities: Year-wise Returns
| Year | JM Large & Mid CapJM Large & Mid Cap | Mahindra Manulife Innovation OpportunitiesMahindra Manulife Innovation Opportunities |
|---|---|---|
| 2026to date | −2.61% | -- |
JM Large & Mid Cap vs Mahindra Manulife Innovation Opportunities: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of JM Large & Mid Cap Fund
JM Large & Mid Cap vs Mahindra Manulife Innovation Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Large & Mid Cap Fund (Direct) | Mahindra Manulife Innovation Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.11% | +5.88% |
| Standard deviation | 14.32% | 16.12% |
| Sharpe ratio | -0.29 | 0.04 |
| Sortino ratio | -0.40 | 0.06 |
| Maximum drawdown | −15.5% (31-03-2026) | −11.4% (23-10-2026) |
| Beta | 1.00 | 0.96 |
| Alpha | +3.51% | +10.05% |
From daily NAVs, 30-07-2025 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.
JM Large & Mid Cap Fund (Direct)
Mahindra Manulife Innovation Opportunities Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JM Large & Mid Cap Fund (Direct) | −13.3% | 11-02-2026 | 31-03-2026 | 18-06-2026 | 3 months | −8.2% |
| Mahindra Manulife Innovation Opportunities Fund (Direct) | −11.4% | 27-08-2026 | 23-10-2026 | Not yet | -- | −8.0% |
| NIFTY LargeMidcap 250 TRI | −13.5% | 11-02-2026 | 30-03-2026 | 31-07-2026 | 4 months | −8.6% |
From daily values since 02-02-2026, the first day every fund has.
JM Large & Mid Cap vs Mahindra Manulife Innovation Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: JM Large & Mid Cap Fund, September 2026; Mahindra Manulife Innovation Opportunities Fund, September 2026
Holdings in common
- Overlap
- 39.7%
- Held by both
- 25
- Only in JM Large & Mid Cap
- 40
- Only in Mahindra Manulife Innovation Opportunities
- 29
| Security | % of JM Large & Mid Cap | % of Mahindra Manulife Innovation Opportunities |
|---|---|---|
| One 97 Communications Limited | 2.67% | 2.64% |
| ICICI Bank Limited | 3.28% | 2.61% |
| Bajaj Finance Limited | 2.51% | 2.73% |
| Torrent Pharmaceuticals Limited | 2.21% | 2.57% |
| Radico Khaitan Limited | 2.10% | 2.06% |
| Bharti Airtel Limited | 2.18% | 1.95% |
| Reliance Industries Limited | 1.89% | 2.53% |
| Navin Fluorine International Limited | 1.84% | 1.86% |
| Aster DM Healthcare Limited | 1.77% | 2.29% |
| GE Vernova T&D India Limited | 1.91% | 1.63% |
| Mahindra & Mahindra Limited | 1.61% | 1.62% |
| Tech Mahindra Limited | 1.52% | 1.54% |
| Eternal Limited | 1.52% | 3.79% |
| Larsen & Toubro Limited | 1.37% | 1.95% |
| Zydus Lifesciences Limited | 1.32% | 1.54% |
| Hindustan Aeronautics Limited | 1.31% | 1.74% |
| Max Financial Services Limited | 1.81% | 1.30% |
| InterGlobe Aviation Limited | 1.24% | 2.11% |
| K.P.R. Mill Ltd | 1.23% | 1.70% |
| IDFC First Bank Limited | 1.80% | 1.20% |
| Piramal Finance Ltd | 1.08% | 1.38% |
| JSW Energy Limited | 1.70% | 1.08% |
| Bharat Electronics Limited | 1.19% | 1.01% |
| BELRISE INDUSTRIES LIMITED | 0.98% | 2.44% |
| PB Fintech Limited | 0.85% | 1.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.7% means 39.7% 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 & Mid Cap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 2.66% |
| LG Electronics India Limited | 2.17% |
| State Bank of India | 2.14% |
| Shriram Finance Limited | 2.02% |
| Dixon Technologies (India) Limited | 1.86% |
Largest holdings only in Mahindra Manulife Innovation Opportunities Fund
| Security | % of fund |
|---|---|
| Aditya Birla Capital Limited | 2.60% |
| Acutaas Chemicals Limited | 2.59% |
| Karur Vysya Bank Limited | 2.32% |
| Divi's Laboratories Limited | 2.26% |
| Dr. Lal Path Labs Limited | 2.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Large & Mid Cap | Mahindra Manulife Innovation Opportunities |
|---|---|---|
| Equity | 97.9% | 97.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.1% | 2.5% |
Market cap of stocks
| Market cap | JM Large & Mid Cap | Mahindra Manulife Innovation Opportunities |
|---|---|---|
| Large Cap | 40.1% | 39.1% |
| Mid Cap | 40.0% | 34.1% |
| Small Cap | 16.3% | 24.3% |
| Not on AMFI's list | 1.5% | 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 & Mid Cap | Mahindra Manulife Innovation Opportunities |
|---|---|---|
| Pharmaceuticals & Biotechnology | 6.3% | 13.1% |
| Banks | 12.8% | 8.3% |
| Finance | 7.4% | 6.7% |
| Transport Services | 1.2% | 5.9% |
| Auto Components | 5.1% | 4.9% |
| Capital Markets | 5.0% | 1.8% |
| Retailing | 4.1% | 5.0% |
| Consumer Durables | 4.5% | 1.4% |
The six largest sectors of each fund's stocks, % of the fund.
JM Large & Mid Cap vs Mahindra Manulife Innovation Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Large & Mid Cap Fund | Mahindra Manulife Innovation Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 0.98% |
| Base expense ratio (Direct) | 0.66% | 0.70% |
| Total expense ratio (Regular) | 2.72% | 2.57% |
| 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 Large & Mid Cap with
Compare Mahindra Manulife Innovation Opportunities with
- Mahindra Manulife Innovation Opportunities vs Nippon India Taiwan Equity
- Mahindra Manulife Innovation Opportunities vs HDFC Defence
- Mahindra Manulife Innovation Opportunities vs HDFC Pharma and Healthcare
- Mahindra Manulife Innovation Opportunities vs SBI Healthcare Opportunities
- Mahindra Manulife Innovation Opportunities vs Aditya Birla Sun Life International Equity
JM Large & Mid Cap Fund vs Mahindra Manulife Innovation Opportunities Fund: Frequently Asked Questions
What is the difference between JM Large & Mid Cap Fund and Mahindra Manulife Innovation Opportunities Fund?
JM Large & Mid Cap Fund is a Large & Mid Cap fund, Mahindra Manulife Innovation Opportunities Fund is a Thematic fund, run by JM Financial Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 39.7%. JM Large & Mid Cap Fund charges 1.04% a year and Mahindra Manulife Innovation Opportunities Fund 0.98%.
Which has the lower expense ratio, JM Large & Mid Cap Fund or Mahindra Manulife Innovation Opportunities Fund?
Mahindra Manulife Innovation Opportunities Fund charges less: 0.98% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Large & Mid Cap Fund and Mahindra Manulife Innovation Opportunities Fund overlap?
39.7%. They hold 25 of the same securities, the largest shared ones being PAYTM, ICICIBANK, BAJFINANCE. From each fund's latest monthly portfolio.
Which is riskier, JM Large & Mid Cap Fund or Mahindra Manulife Innovation Opportunities Fund?
On SEBI's riskometer, JM Large & Mid Cap Fund is rated Very High and Mahindra Manulife Innovation Opportunities Fund Very High. Over their common history, the standard deviation of daily returns was 14.32% and 16.12% a year.
Can I invest in both JM Large & Mid Cap Fund and Mahindra Manulife Innovation Opportunities Fund?
Yes. 39.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Large & Mid Cap Fund and Mahindra Manulife Innovation Opportunities Fund?
JM Large & Mid Cap Fund: Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar. Mahindra Manulife Innovation Opportunities Fund: Kirti Dalvi, Renjith Sivaram Radhakrishnan.
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.