LIC MF Consumption Fund vs Mahindra Manulife Consumption Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Consumption Fund is a Thematic fund and Mahindra Manulife Consumption Fund is a Thematic fund. LIC MF Consumption Fund charges 1.22% a year and Mahindra Manulife Consumption Fund 1.09% (Direct plans). Their portfolios overlap 32.5%: they hold 18 of the same securities.
Mahindra Manulife Consumption Fund
Thematic
- Expense ratio
- 1.09%
- NAV
- ₹23.52
Which is better, LIC MF Consumption or Mahindra Manulife Consumption? 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 Consumption costs less: 1.09% a year against 1.22% (Direct plans).
- LIC MF Consumption fell less in its worst fall since 25-11-2025: −14.8% against −16.5%.
- Mahindra Manulife Consumption holds more in large companies: 60.0% of the fund in large caps against 36.7%.
- Mahindra Manulife Consumption is the larger fund: ₹453 Cr against ₹424 Cr.
- Their portfolios overlap 32.5%: 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 | LIC MF Consumption Fund | Mahindra Manulife Consumption Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹424 Cr (30-09-2026) | ₹453 Cr (30-09-2026) |
| NAV | ₹9.16 (Direct) | ₹23.52 (Direct) |
| Expense ratio (Direct) | 1.22% | 1.09% |
| Expense ratio (Regular) | 2.73% | 2.66% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Consumption TRI | Nifty India Consumption TRI |
| Launch date | 21-11-2025 | 13-11-2018 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Sumit Bhatnagar, Nikhil Kapoor | $ Mr. Navin Matta, $ Mr. Hemang Kapasi |
| Exit load | Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 90 days. | Exit load of 1%, if redeemed within 3 months. |
LIC MF Consumption vs Mahindra Manulife Consumption: 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 Consumption Fund (Direct) | −2.54% | −7.77% | −2.41% | -- | -- | -- | -- |
| Mahindra Manulife Consumption Fund (Direct) | −1.61% | −6.79% | −2.44% | −11.33% | +8.78% | +9.98% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
LIC MF Consumption vs Mahindra Manulife Consumption: Year-wise Returns
| Year | LIC MFLIC MF Consumption | Mahindra ManulifeMahindra Manulife Consumption | Nifty India Consumption TRI |
|---|---|---|---|
| 2026to date | −8.21% | −9.37% | −9.10% |
| 2025 | -- | +3.05% | +9.22% |
| 2024 | -- | +23.44% | +19.77% |
| 2023 | -- | +29.08% | +27.96% |
| 2022 | -- | +9.53% | +8.53% |
| 2021 | -- | +24.56% | +20.82% |
LIC MF Consumption vs Mahindra Manulife Consumption: Rolling Returns
Every holding period of both funds, against Nifty India Consumption TRI, the benchmark of both
LIC MF Consumption vs Mahindra Manulife Consumption: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Consumption Fund (Direct) | Mahindra Manulife Consumption Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.11% | +11.32% |
| Standard deviation | 14.76% | 15.71% |
| Sharpe ratio | -0.97 | 0.39 |
| Sortino ratio | -1.30 | 0.52 |
| Maximum drawdown | −14.8% (23-03-2026) | −34.0% (23-03-2020) |
| Beta | 0.87 | 0.90 |
| Alpha | −0.46% | −0.29% |
From daily NAVs, 25-11-2025 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.
LIC MF Consumption Fund (Direct)
Mahindra Manulife Consumption Fund (Direct)
Nifty India Consumption TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Consumption Fund (Direct) | −14.8% | 26-11-2025 | 23-03-2026 | 03-08-2026 | 4 months | −9.8% |
| Mahindra Manulife Consumption Fund (Direct) | −16.5% | 26-11-2025 | 23-03-2026 | Not yet | -- | −10.4% |
| Nifty India Consumption TRI | −17.2% | 26-11-2025 | 30-03-2026 | Not yet | -- | −10.6% |
From daily values since 25-11-2025, the first day every fund has.
LIC MF Consumption vs Mahindra Manulife Consumption: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Consumption Fund, September 2026; Mahindra Manulife Consumption Fund, September 2026
Holdings in common
- Overlap
- 32.5%
- Held by both
- 18
- Only in LIC MF Consumption
- 35
- Only in Mahindra Manulife Consumption
- 30
| Security | % of LIC MF Consumption | % of Mahindra Manulife Consumption |
|---|---|---|
| Eternal Ltd. | 5.28% | 6.73% |
| Bharti Airtel Ltd. | 3.45% | 6.72% |
| TVS Motor Company Ltd. | 2.41% | 2.58% |
| LG Electronics India Ltd. | 2.79% | 2.06% |
| Trent Ltd. | 2.03% | 3.17% |
| Mahindra & Mahindra Ltd. | 1.94% | 6.25% |
| Godfrey Phillips India Ltd. | 2.41% | 1.67% |
| MRS Bectors Food Specialities Ltd. | 2.71% | 1.53% |
| Hyundai Motor India Ltd. | 1.73% | 1.53% |
| Britannia Industries Ltd. | 1.40% | 2.15% |
| Radico Khaitan Ltd. | 1.31% | 2.41% |
| Titan Company Ltd. | 1.31% | 4.47% |
| Axis Bank Ltd. | 2.16% | 1.27% |
| Swiggy Ltd. | 1.50% | 1.20% |
| VARUN BEVERAGES LIMITED | 1.17% | 2.21% |
| InterGlobe Aviation Ltd. | 1.76% | 1.04% |
| Multi Commodity Exchange Of India Ltd. | 0.99% | 1.81% |
| Metro Brands Ltd. | 1.69% | 0.91% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.5% means 32.5% 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 LIC MF Consumption Fund
| Security | % of fund |
|---|---|
| The Indian Hotels Company Ltd. | 3.54% |
| ITC Hotels Ltd. | 2.99% |
| Leela Palaces Hotels & Resorts Ltd. | 2.67% |
| JK Cement Ltd. | 2.64% |
| Eureka Forbes Ltd. | 2.46% |
Largest holdings only in Mahindra Manulife Consumption Fund
| Security | % of fund |
|---|---|
| Bajaj Auto Limited | 3.84% |
| ITC Limited | 3.06% |
| Maruti Suzuki India Limited | 2.87% |
| Hindustan Unilever Limited | 2.51% |
| Aditya Vision Ltd | 2.48% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Consumption | Mahindra Manulife Consumption |
|---|---|---|
| Equity | 93.9% | 98.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.1% | 1.6% |
Market cap of stocks
| Market cap | LIC MF Consumption | Mahindra Manulife Consumption |
|---|---|---|
| Large Cap | 36.7% | 60.0% |
| Mid Cap | 28.7% | 14.5% |
| Small Cap | 28.0% | 23.9% |
| Not on AMFI's list | 0.5% | 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 | LIC MF Consumption | Mahindra Manulife Consumption |
|---|---|---|
| Automobiles | 7.8% | 17.1% |
| Retailing | 14.5% | 16.8% |
| Consumer Durables | 12.3% | 14.6% |
| Leisure Services | 9.2% | 3.0% |
| Telecom - Services | 3.5% | 8.1% |
| Diversified FMCG | 0.0% | 7.0% |
| Beverages | 3.9% | 6.5% |
| Food Products | 6.1% | 4.7% |
| Pharmaceuticals & Biotechnology | 5.5% | 1.0% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Consumption vs Mahindra Manulife Consumption: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Consumption Fund | Mahindra Manulife Consumption Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.22% | 1.09% |
| Base expense ratio (Direct) | 0.77% | 0.73% |
| Total expense ratio (Regular) | 2.73% | 2.66% |
| 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 LIC MF Consumption with
Compare Mahindra Manulife Consumption with
LIC MF Consumption Fund vs Mahindra Manulife Consumption Fund: Frequently Asked Questions
What is the difference between LIC MF Consumption Fund and Mahindra Manulife Consumption Fund?
LIC MF Consumption Fund is a Thematic fund, Mahindra Manulife Consumption Fund is a Thematic fund, run by LIC Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 32.5%. LIC MF Consumption Fund charges 1.22% a year and Mahindra Manulife Consumption Fund 1.09%.
Which has the lower expense ratio, LIC MF Consumption Fund or Mahindra Manulife Consumption Fund?
Mahindra Manulife Consumption Fund charges less: 1.09% a year against 1.22%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Consumption Fund and Mahindra Manulife Consumption Fund overlap?
32.5%. They hold 18 of the same securities, the largest shared ones being ETERNAL, BHARTIARTL, TVSMOTOR. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Consumption Fund or Mahindra Manulife Consumption Fund?
On SEBI's riskometer, LIC MF Consumption Fund is rated Very High and Mahindra Manulife Consumption Fund Very High. Over their common history, the standard deviation of daily returns was 14.76% and 15.71% a year.
Can I invest in both LIC MF Consumption Fund and Mahindra Manulife Consumption Fund?
Yes. 32.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF Consumption Fund and Mahindra Manulife Consumption Fund?
LIC MF Consumption Fund: Sumit Bhatnagar, Nikhil Kapoor. Mahindra Manulife Consumption Fund: $ Mr. Navin Matta, $ Mr. Hemang Kapasi.
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.