JM Large & Mid Cap Fund vs Union Large & Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Large & Mid Cap Fund and Union Large & Midcap Fund are both Large & Mid Cap funds. In the year to 30-10-2026, JM Large & Mid Cap Fund (Direct) returned −4.1% and Union Large & Midcap Fund (Direct) returned −0.7%. JM Large & Mid Cap Fund charges 1.04% a year and Union Large & Midcap Fund 1.32% (Direct plans). Their portfolios overlap 41.9%: they hold 32 of the same securities.
JM Large & Mid Cap Fund
Large & Mid Cap
- 1 year return
- −4.1%
- Expense ratio
- 1.04%
- NAV
- ₹10.20
Union Large & Midcap Fund
Large & Mid Cap
- 1 year return
- −0.7%
- Expense ratio
- 1.32%
- NAV
- ₹28.14
Which is better, JM Large & Mid Cap or Union Large & Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Large & Midcap returned more over 1 year: −0.7% against −4.1%.
- JM Large & Mid Cap costs less: 1.04% a year against 1.32% (Direct plans).
- Union Large & Midcap fell less in its worst fall since 30-07-2025: −12.6% against −15.5%.
- Union Large & Midcap is the larger fund: ₹969 Cr against ₹448 Cr.
- Their portfolios overlap 41.9%: 32 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 | Union Large & Midcap Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Union Mutual Fund |
| Category | Large & Mid Cap | Large & Mid Cap |
| AUM | ₹448 Cr (30-09-2026) | ₹969 Cr (30-09-2026) |
| NAV | ₹10.20 (Direct) | ₹28.14 (Direct) |
| Expense ratio (Direct) | 1.04% | 1.32% |
| Expense ratio (Regular) | 2.72% | 2.53% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 25-07-2025 | 06-12-2019 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar | Vinod Malviya, Pratik Dharmshi |
| 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 of 1%, if redeemed within 15 days. |
JM Large & Mid Cap vs Union Large & Midcap: 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% | -- | -- | -- |
| Union Large & Midcap Fund (Direct) | −1.54% | −2.90% | +2.96% | −0.74% | +12.37% | +10.31% | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
JM Large & Mid Cap vs Union Large & Midcap: Year-wise Returns
| Year | JM Large & Mid CapJM Large & Mid Cap | Union Large & MidcapUnion Large & Midcap | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | −2.61% | −0.07% | −7.09% |
| 2025 | -- | +3.57% | +8.19% |
| 2024 | -- | +22.26% | +18.68% |
| 2023 | -- | +28.33% | +32.66% |
| 2022 | -- | −1.87% | +4.48% |
| 2021 | -- | +40.05% | +37.04% |
JM Large & Mid Cap vs Union Large & Midcap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 62 of them, one for each trading day from 30-07-2026 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.
JM Large & Mid Cap Fund (Direct)
Union Large & Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Large & Mid Cap | 19.4 | 29.0 | 35.5 | 16.1 | 0.0 | 0.0 | 0.0 | 4.9% | 5.4% | −5.3% | 12.0% | 100% |
| Union Large & Midcap | 11.3 | 32.3 | 38.7 | 17.7 | 0.0 | 0.0 | 0.0 | 5.6% | 6.0% | −3.9% | 11.8% | 100% |
| NIFTY LargeMidcap 250 TRI | 38.7 | 27.4 | 33.9 | 0.0 | 0.0 | 0.0 | 0.0 | 1.7% | 2.0% | −8.0% | 8.8% | -- |
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 NIFTY LargeMidcap 250 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 30-07-2025. Past returns do not promise future returns.
JM Large & Mid Cap vs Union Large & Midcap: 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 30-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Large & Mid CapJM Large & Mid Cap Fund (Direct) | ₹1,60,000 | ₹1,59,145 | −₹855 | −0.8% |
| Union Large & MidcapUnion Large & Midcap Fund (Direct) | ₹1,60,000 | ₹1,61,752 | ₹1,752 | 1.6% |
JM Large & Mid CapJM Large & Mid Cap Fund (Direct)
Union Large & MidcapUnion Large & Midcap 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 Large & Mid Cap vs Union Large & Midcap: 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) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.09% | −0.74% |
| Standard deviation | 15.31% | 15.51% |
| Sharpe ratio | -0.61 | -0.39 |
| Sortino ratio | -0.82 | -0.52 |
| Maximum drawdown | −15.5% (31-03-2026) | −12.6% (30-03-2026) |
| Beta | 1.01 | 1.01 |
| Alpha | +2.47% | +5.90% |
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 & Mid Cap Fund (Direct) | Union Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.11% | +16.18% |
| Standard deviation | 14.32% | 17.07% |
| Sharpe ratio | -0.29 | 0.65 |
| Sortino ratio | -0.40 | 0.85 |
| Maximum drawdown | −15.5% (31-03-2026) | −35.6% (23-03-2020) |
| Beta | 1.00 | 0.96 |
| Alpha | +3.51% | +0.71% |
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)
Union Large & Midcap 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) | −15.5% | 17-11-2025 | 31-03-2026 | 29-07-2026 | 4 months | −8.2% |
| Union Large & Midcap Fund (Direct) | −12.6% | 05-01-2026 | 30-03-2026 | 18-06-2026 | 3 months | −6.6% |
| NIFTY LargeMidcap 250 TRI | −14.3% | 02-01-2026 | 30-03-2026 | 03-08-2026 | 4 months | −8.6% |
From daily values since 30-07-2025, 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.
JM Large & Mid Cap Fund (Direct)
Union Large & Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM Large & Mid Cap Fund (Direct) | 111% | 95% | 4.18% |
| Union Large & Midcap Fund (Direct) | 110% | 87% | 4.32% |
From month-end values since 30-07-2025. 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 & Mid Cap vs Union Large & Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: JM Large & Mid Cap Fund, September 2026; Union Large & Midcap Fund, September 2026
Holdings in common
- Overlap
- 41.9%
- Held by both
- 32
- Only in JM Large & Mid Cap
- 33
- Only in Union Large & Midcap
- 49
| Security | % of JM Large & Mid Cap | % of Union Large & Midcap |
|---|---|---|
| ICICI Bank Limited | 3.28% | 4.84% |
| HDFC Bank Limited | 2.66% | 2.86% |
| One 97 Communications Limited | 2.67% | 2.49% |
| Bharti Airtel Limited | 2.18% | 2.32% |
| Shriram Finance Limited | 2.02% | 2.00% |
| Max Financial Services Limited | 1.81% | 1.70% |
| JSW Energy Limited | 1.70% | 1.65% |
| Jindal Steel Limited | 1.57% | 2.01% |
| LG Electronics India Limited | 2.17% | 1.53% |
| UNO Minda Limited | 1.53% | 1.79% |
| Eternal Limited | 1.52% | 2.28% |
| Reliance Industries Limited | 1.89% | 1.50% |
| Navin Fluorine International Limited | 1.84% | 1.46% |
| Fortis Healthcare Limited | 1.38% | 1.57% |
| Torrent Pharmaceuticals Limited | 2.21% | 1.37% |
| Larsen & Toubro Limited | 1.37% | 1.40% |
| Marico Limited | 1.63% | 1.32% |
| GE Vernova T&D India Limited | 1.91% | 1.21% |
| State Bank of India | 2.14% | 1.19% |
| InterGlobe Aviation Limited | 1.24% | 1.16% |
| JSW Infrastructure Limited | 1.08% | 2.07% |
| Dixon Technologies (India) Limited | 1.86% | 0.95% |
| Zydus Lifesciences Limited | 1.32% | 0.87% |
| Maruti Suzuki India Limited | 0.80% | 1.19% |
| Tech Mahindra Limited | 1.52% | 0.79% |
| Bajaj Finance Limited | 2.51% | 0.78% |
| PERSISTENT SYSTEMS LTD | 1.82% | 0.63% |
| BSE Ltd | 1.72% | 0.58% |
| TVS Motor Company Limited | 1.48% | 0.42% |
| CarTrade Tech Limited | 1.29% | 0.39% |
| Hindustan Zinc Limited | 1.15% | 0.38% |
| Bharat Electronics Limited | 1.19% | 0.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.9% means 41.9% 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 |
|---|---|
| Radico Khaitan Limited | 2.10% |
| Kotak Mahindra Bank Limited | 1.82% |
| IDFC First Bank Limited | 1.80% |
| Aster DM Healthcare Limited | 1.77% |
| Mahindra & Mahindra Financial Serv Ltd. | 1.75% |
Largest holdings only in Union Large & Midcap Fund
| Security | % of fund |
|---|---|
| INDO-MIM Ltd. | 2.64% |
| Axis Bank Ltd. | 2.20% |
| Multi Commodity Exchange of India Ltd. | 1.98% |
| CG Power and Industrial Solutions Ltd. | 1.86% |
| Solar Industries India Ltd. | 1.84% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Equity | 97.9% | 98.2% |
| Debt | 0.0% | 0.1% |
| Cash and others | 2.1% | 1.7% |
Market cap of stocks
| Market cap | JM Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Large Cap | 40.1% | 44.0% |
| Mid Cap | 40.0% | 38.6% |
| Small Cap | 16.3% | 12.5% |
| Not on AMFI's list | 1.5% | 3.1% |
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 Large & Mid Cap | Union Large & Midcap |
|---|---|---|
| Banks | 12.8% | 14.6% |
| Pharmaceuticals & Biotechnology | 6.3% | 7.9% |
| Finance | 7.4% | 4.6% |
| Electrical Equipment | 2.9% | 6.7% |
| Auto Components | 5.1% | 6.2% |
| Chemicals & Petrochemicals | 1.8% | 5.4% |
| Retailing | 4.1% | 5.2% |
| Capital Markets | 5.0% | 4.5% |
| Consumer Durables | 4.5% | 3.4% |
The six largest sectors of each fund's stocks, % of the fund.
JM Large & Mid Cap vs Union Large & Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Large & Mid Cap Fund | Union Large & Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 1.32% |
| Base expense ratio (Direct) | 0.66% | 0.88% |
| Total expense ratio (Regular) | 2.72% | 2.53% |
| Base expense ratio (Regular) | 2.10% | 1.94% |
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
JM Large & Mid Cap Fund vs Union Large & Midcap Fund: Frequently Asked Questions
What is the difference between JM Large & Mid Cap Fund and Union Large & Midcap Fund?
Both are Large & Mid Cap funds, run by JM Financial Mutual Fund and Union Mutual Fund. Their portfolios overlap 41.9%. JM Large & Mid Cap Fund charges 1.04% a year and Union Large & Midcap Fund 1.32%.
Which has given higher returns, JM Large & Mid Cap Fund or Union Large & Midcap Fund?
Over 1 year: JM Large & Mid Cap Fund −4.09%, Union Large & Midcap Fund −0.74%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Large & Mid Cap Fund or Union Large & Midcap Fund?
JM Large & Mid Cap Fund charges less: 1.04% a year against 1.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Large & Mid Cap Fund and Union Large & Midcap Fund overlap?
41.9%. They hold 32 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, PAYTM. From each fund's latest monthly portfolio.
Which is riskier, JM Large & Mid Cap Fund or Union Large & Midcap Fund?
On SEBI's riskometer, JM Large & Mid Cap Fund is rated Very High and Union Large & Midcap Fund Very High. Over 1 years, the standard deviation of daily returns was 15.31% and 15.51% a year.
Can I invest in both JM Large & Mid Cap Fund and Union Large & Midcap Fund?
Yes. 41.9% 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 & Mid Cap Fund and Union Large & Midcap Fund?
JM Large & Mid Cap Fund: Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar. Union Large & Midcap Fund: Vinod Malviya, Pratik Dharmshi.
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.