LIC MF Banking & PSU Debt Fund vs LIC MF Medium to Long Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Banking & PSU Debt Fund is a Banking & PSU fund and LIC MF Medium to Long Term Fund is a Medium to Long Duration fund. In the 3 years to 30-10-2026, LIC MF Banking & PSU Debt Fund (Direct) returned 7.1% a year and LIC MF Medium to Long Term Fund (Direct) returned 7.3% a year. LIC MF Banking & PSU Debt Fund charges 0.28% a year and LIC MF Medium to Long Term Fund 0.22% (Direct plans). Their portfolios overlap 12.4%: they hold 8 of the same securities.
LIC MF Banking & PSU Debt Fund
Banking & PSU
- 3 year return
- 7.1%
- Expense ratio
- 0.28%
- NAV
- ₹40.02
LIC MF Medium to Long Term Fund
Medium to Long Duration
- 3 year return
- 7.3%
- Expense ratio
- 0.22%
- NAV
- ₹81.76
Which is better, LIC MF Banking & PSU Debt or LIC MF Medium to Long Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- LIC MF Banking & PSU Debt returned more over 5 years: 6.2% a year against 6.2%.
- LIC MF Medium to Long Term returned more over 3 years: 7.3% a year against 7.1%.
- LIC MF Medium to Long Term costs less: 0.22% a year against 0.28% (Direct plans).
- LIC MF Banking & PSU Debt swung less over 3 years: a standard deviation of 1.1% a year against 1.9%.
- LIC MF Banking & PSU Debt fell less in its worst fall since 03-01-2013: −2.8% against −6.2%.
- LIC MF Banking & PSU Debt is the larger fund: ₹1,598 Cr against ₹173 Cr.
- Their portfolios overlap 12.4%: 8 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 | LIC MF Banking & PSU Debt Fund | LIC MF Medium to Long Term Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Banking & PSU | Medium to Long Duration |
| AUM | ₹1,598 Cr (30-09-2026) | ₹173 Cr (30-09-2026) |
| NAV | ₹40.02 (Direct) | ₹81.76 (Direct) |
| Expense ratio (Direct) | 0.28% | 0.22% |
| Expense ratio (Regular) | 0.65% | 0.62% |
| Riskometer | Not available | Moderate |
| Benchmark | Not available | CRISIL Medium to Long Duration Debt A-III Index |
| Launch date | Not available | 23-06-1999 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Pratik Harish Shroff, Rahul Singh |
| Exit load | Not available | Exit load of 0.25% if redeemed within 15 days. |
LIC MF Banking & PSU Debt vs LIC MF Medium to Long Term: 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 |
|---|---|---|---|---|---|---|---|
| LIC MF Banking & PSU Debt Fund (Direct) | −0.17% | +0.39% | +2.58% | +4.25% | +7.11% | +6.22% | +6.91% |
| LIC MF Medium to Long Term Fund (Direct) | −0.51% | −0.32% | +2.25% | +3.59% | +7.32% | +6.20% | +6.21% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
| Medium to Long Duration average | −0.59% | −0.88% | +1.83% | +2.86% | +6.52% | +5.71% | +6.19% |
Category average: the average of the 19 Banking & PSU funds and the 13 Medium to Long Duration funds, same plan type.
LIC MF Banking & PSU Debt vs LIC MF Medium to Long Term: Year-wise Returns
| Year | Banking & PSU DebtLIC MF Banking & PSU Debt | Medium to Long TermLIC MF Medium to Long Term |
|---|---|---|
| 2026to date | +3.54% | +2.83% |
| 2025 | +8.03% | +7.22% |
| 2024 | +8.32% | +10.12% |
| 2023 | +7.07% | +7.26% |
| 2022 | +3.63% | +3.36% |
| 2021 | +3.14% | +1.46% |
LIC MF Banking & PSU Debt vs LIC MF Medium to Long Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,618 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.
LIC MF Banking & PSU Debt Fund (Direct)
LIC MF Medium to Long Term Fund (Direct)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LIC MF Banking & PSU Debt | 0.0 | 7.3 | 92.7 | 0.0 | 0.0 | 0.0 | 0.0 | 7.3% | 7.7% | 4.4% | 9.3% |
| LIC MF Medium to Long Term | 0.0 | 14.8 | 80.5 | 4.7 | 0.0 | 0.0 | 0.0 | 7.1% | 7.2% | 3.6% | 11.6% |
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. Every fund is measured over the days all of them have, from 03-01-2013. Past returns do not promise future returns.
LIC MF Banking & PSU Debt vs LIC MF Medium to Long Term: 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 03-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF Banking & PSU DebtLIC MF Banking & PSU Debt Fund (Direct) | ₹16,60,000 | ₹27,31,817 | ₹10,71,817 | 6.9% |
| LIC MF Medium to Long TermLIC MF Medium to Long Term Fund (Direct) | ₹16,60,000 | ₹26,77,190 | ₹10,17,190 | 6.6% |
LIC MF Banking & PSU DebtLIC MF Banking & PSU Debt Fund (Direct)
LIC MF Medium to Long TermLIC MF Medium to Long Term 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.
LIC MF Banking & PSU Debt vs LIC MF Medium to Long Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Banking & PSU Debt Fund (Direct) | LIC MF Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.25% | +3.59% |
| Standard deviation | 1.22% | 2.15% |
| Sharpe ratio | -0.81 | -0.77 |
| Sortino ratio | -1.12 | -1.08 |
| Maximum drawdown | −0.6% (21-05-2026) | −1.6% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | LIC MF Banking & PSU Debt Fund (Direct) | LIC MF Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.11% | +7.32% |
| Standard deviation | 1.06% | 1.89% |
| Sharpe ratio | 1.02 | 0.69 |
| Sortino ratio | 1.54 | 1.01 |
| Maximum drawdown | −0.6% (13-06-2025) | −1.6% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | LIC MF Banking & PSU Debt Fund (Direct) | LIC MF Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.22% | +6.20% |
| Standard deviation | 0.95% | 2.01% |
| Sharpe ratio | 0.44 | 0.20 |
| Sortino ratio | 0.65 | 0.29 |
| Maximum drawdown | −0.6% (13-06-2025) | −2.1% (13-06-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | LIC MF Banking & PSU Debt Fund (Direct) | LIC MF Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.27% | +6.96% |
| Standard deviation | 1.15% | 2.61% |
| Sharpe ratio | 1.06 | 0.35 |
| Sortino ratio | 1.73 | 0.48 |
| Maximum drawdown | −2.8% (23-03-2020) | −6.2% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-01-2013 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.
LIC MF Banking & PSU Debt Fund (Direct)
LIC MF Medium to Long Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Banking & PSU Debt Fund (Direct) | −2.8% | 06-03-2020 | 23-03-2020 | 20-04-2020 | 28 days | −0.3% |
| LIC MF Medium to Long Term Fund (Direct) | −6.2% | 27-05-2013 | 19-08-2013 | 20-01-2014 | 5 months | −1.1% |
From daily values since 03-01-2013, 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.
LIC MF Banking & PSU Debt Fund (Direct)
LIC MF Medium to Long Term Fund (Direct)
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.
LIC MF Banking & PSU Debt Fund (Direct)
LIC MF Medium to Long Term Fund (Direct)
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.
LIC MF Banking & PSU Debt Fund (Direct)
LIC MF Medium to Long Term Fund (Direct)
LIC MF Banking & PSU Debt vs LIC MF Medium to Long Term: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Banking & PSU Debt Fund, September 2026; LIC MF Medium to Long Term Fund, September 2026
Holdings in common
- Overlap
- 12.4%
- Held by both
- 8
- Only in LIC MF Banking & PSU Debt
- 39
- Only in LIC MF Medium to Long Term
- 11
| Security | % of LIC MF Banking & PSU Debt | % of LIC MF Medium to Long Term |
|---|---|---|
| 7.42% Power Finance Corporation Ltd. | 2.61% | 6.02% |
| 7.43% Jamnagar Utilities & Power Pvt. Ltd. | 2.60% | 5.99% |
| Canara Bank | 2.08% | 8.23% |
| 7.39% Indian Railway Finance Corporation Ltd. | 1.90% | 2.92% |
| 7.71% Government of India | 1.03% | 5.94% |
| 7.79% Bajaj Finance Ltd. | 0.92% | 2.83% |
| Small Industries Development Bk of India | 0.88% | 5.42% |
| SBI CDMDF--A2 | 0.34% | 0.35% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.4% means 12.4% 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 LIC MF Banking & PSU Debt Fund
| Security | % of fund |
|---|---|
| 8.09% NLC India Ltd. | 3.89% |
| 8.14% Nuclear Power Corporation | 3.80% |
| 8.37% National Highways Authority of India | 3.37% |
| 7.83% Small Industries Development Bk of India | 3.34% |
| 7.75% Bharti Telecom Ltd. | 3.24% |
Largest holdings only in LIC MF Medium to Long Term Fund
| Security | % of fund |
|---|---|
| 7.48% National Bk for Agriculture & Rural Dev. | 8.65% |
| 7.3% Government of India | 8.50% |
| HDFC Bank Ltd. | 8.42% |
| 7.65% State Government of Karnataka | 5.98% |
| 7.33% Government of India | 5.97% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Banking & PSU Debt | LIC MF Medium to Long Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 94.4% | 97.4% |
| Cash and others | 5.6% | 2.6% |
LIC MF Banking & PSU Debt vs LIC MF Medium to Long Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Banking & PSU Debt Fund | LIC MF Medium to Long Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.28% | 0.22% |
| Base expense ratio (Direct) | 0.23% | 0.18% |
| Total expense ratio (Regular) | 0.65% | 0.62% |
| Base expense ratio (Regular) | 0.57% | 0.53% |
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 LIC MF Banking & PSU Debt with
LIC MF Banking & PSU Debt Fund vs LIC MF Medium to Long Term Fund: Frequently Asked Questions
What is the difference between LIC MF Banking & PSU Debt Fund and LIC MF Medium to Long Term Fund?
LIC MF Banking & PSU Debt Fund is a Banking & PSU fund, LIC MF Medium to Long Term Fund is a Medium to Long Duration fund, run by LIC Mutual Fund. Their portfolios overlap 12.4%. LIC MF Banking & PSU Debt Fund charges 0.28% a year and LIC MF Medium to Long Term Fund 0.22%.
Which has given higher returns, LIC MF Banking & PSU Debt Fund or LIC MF Medium to Long Term Fund?
Over 1 year: LIC MF Banking & PSU Debt Fund +4.25%, LIC MF Medium to Long Term Fund +3.59%. Over 3 years: LIC MF Banking & PSU Debt Fund +7.11% a year, LIC MF Medium to Long Term Fund +7.32% a year. Over 5 years: LIC MF Banking & PSU Debt Fund +6.22% a year, LIC MF Medium to Long Term Fund +6.20% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Banking & PSU Debt Fund or LIC MF Medium to Long Term Fund?
LIC MF Medium to Long Term Fund charges less: 0.22% a year against 0.28%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Banking & PSU Debt Fund and LIC MF Medium to Long Term Fund overlap?
12.4%. They hold 8 of the same securities, the largest shared ones being 7.42% Power Finance Corporation Ltd., 7.43% Jamnagar Utilities & Power Pvt. Ltd., Canara Bank. From each fund's latest monthly portfolio.
Which is better for SIP, LIC MF Banking & PSU Debt Fund or LIC MF Medium to Long Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,20,896 in LIC MF Banking & PSU Debt Fund (XIRR 6.5% a year) and ₹7,19,173 in LIC MF Medium to Long Term Fund (XIRR 6.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Banking & PSU Debt Fund and LIC MF Medium to Long Term Fund?
Yes. 12.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.