LIC MF Dividend Yield Fund vs LIC MF Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Dividend Yield Fund is a Dividend Yield fund and LIC MF Multi Cap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, LIC MF Dividend Yield Fund (Direct) returned 17.6% a year and LIC MF Multi Cap Fund (Direct) returned 16.9% a year. LIC MF Dividend Yield Fund charges 0.97% a year and LIC MF Multi Cap Fund 0.79% (Direct plans). Their portfolios overlap 50.7%: they hold 32 of the same securities.
LIC MF Dividend Yield Fund
Dividend Yield
- 3 year return
- 17.6%
- Expense ratio
- 0.97%
- NAV
- ₹33.71
LIC MF Multi Cap Fund
Multi Cap
- 3 year return
- 16.9%
- Expense ratio
- 0.79%
- NAV
- ₹18.71
Which is better, LIC MF Dividend Yield or LIC MF Multi Cap? 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 Dividend Yield returned more over 3 years: 17.6% a year against 16.9%.
- LIC MF Multi Cap returned more over 1 year: 1.0% against −2.2%.
- LIC MF Multi Cap costs less: 0.79% a year against 0.97% (Direct plans).
- LIC MF Multi Cap swung less over 3 years: a standard deviation of 15.5% a year against 15.9%.
- LIC MF Multi Cap fell less in its worst fall since 31-07-2023: −19.3% against −20.4%.
- LIC MF Multi Cap is the larger fund: ₹2,187 Cr against ₹738 Cr.
- Their portfolios overlap 50.7%: 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 | LIC MF Dividend Yield Fund | LIC MF Multi Cap Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Dividend Yield | Multi Cap |
| AUM | ₹738 Cr (30-09-2026) | ₹2,187 Cr (30-09-2026) |
| NAV | ₹33.71 (Direct) | ₹18.71 (Direct) |
| Expense ratio (Direct) | 0.97% | 0.79% |
| Expense ratio (Regular) | 2.44% | 2.15% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 21-12-2018 | 02-11-2022 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Dikshit Mittal, Sumit Bhatnagar | Dikshit Mittal, Mahesh Bendre, Nikhil Kapoor |
| Exit load | Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 12 months from the date of allotment. 1% of the applicable NAV, If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 12 months from the date of allotment. | Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 12 months. |
LIC MF Dividend Yield vs LIC MF Multi Cap: 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 Dividend Yield Fund (Direct) | −4.08% | −4.94% | +2.30% | −2.19% | +17.64% | -- | -- |
| LIC MF Multi Cap Fund (Direct) | −1.81% | −3.18% | +5.71% | +1.01% | +16.94% | -- | -- |
| Dividend Yield average | −1.57% | −5.69% | −3.24% | −5.57% | +12.14% | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 12 Dividend Yield funds and the 33 Multi Cap funds, same plan type.
LIC MF Dividend Yield vs LIC MF Multi Cap: Year-wise Returns
| Year | Dividend YieldLIC MF Dividend Yield | Multi CapLIC MF Multi Cap |
|---|---|---|
| 2026to date | −0.50% | +2.52% |
| 2025 | +4.39% | +2.79% |
| 2024 | +33.29% | +34.47% |
| 2023 | -- | +32.98% |
LIC MF Dividend Yield vs LIC MF Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of LIC MF Dividend Yield Fund
Rolling returns
Every 3-year holding period, 61 of them, one for each trading day from 31-07-2026 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.
LIC MF Dividend Yield Fund (Direct)
LIC MF Multi Cap Fund (Direct)
Nifty 500 TRI
to
Aug 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LIC MF Dividend Yield | 0.0 | 0.0 | 0.0 | 0.0 | 63.9 | 36.1 | 0.0 | 19.1% | 18.7% | 16.6% | 21.5% | 100% |
| LIC MF Multi Cap | 0.0 | 0.0 | 0.0 | 0.0 | 78.7 | 21.3 | 0.0 | 18.3% | 18.1% | 15.7% | 20.4% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 31.1 | 68.9 | 0.0 | 0.0 | 0.0 | 11.1% | 10.8% | 8.8% | 13.5% | -- |
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 500 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 31-07-2023. Past returns do not promise future returns.
LIC MF Dividend Yield vs LIC MF Multi Cap: 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 31-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF Dividend YieldLIC MF Dividend Yield Fund (Direct) | ₹4,00,000 | ₹4,57,293 | ₹57,293 | 8.0% |
| LIC MF Multi CapLIC MF Multi Cap Fund (Direct) | ₹4,00,000 | ₹4,72,506 | ₹72,506 | 10.0% |
LIC MF Dividend YieldLIC MF Dividend Yield Fund (Direct)
LIC MF Multi CapLIC MF Multi Cap 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 Dividend Yield vs LIC MF Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Dividend Yield Fund (Direct) | LIC MF Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.19% | +1.01% |
| Standard deviation | 15.46% | 15.66% |
| Sharpe ratio | -0.48 | -0.27 |
| Sortino ratio | -0.66 | -0.37 |
| Maximum drawdown | −16.0% (31-03-2026) | −14.8% (31-03-2026) |
| Beta | 1.02 | 1.01 |
| Alpha | +5.37% | +7.21% |
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 Dividend Yield Fund (Direct) | LIC MF Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.64% | +16.94% |
| Standard deviation | 15.91% | 15.49% |
| Sharpe ratio | 0.73 | 0.70 |
| Sortino ratio | 1.00 | 0.96 |
| Maximum drawdown | −20.4% (28-02-2025) | −19.3% (28-02-2025) |
| Beta | 1.06 | 0.99 |
| Alpha | +7.19% | +5.74% |
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 Dividend Yield Fund (Direct) | LIC MF Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.07% | +16.93% |
| Standard deviation | 15.55% | 14.09% |
| Sharpe ratio | 0.64 | 0.76 |
| Sortino ratio | 0.87 | 1.04 |
| Maximum drawdown | −20.4% (28-02-2025) | −19.3% (28-02-2025) |
| Beta | 1.05 | 0.96 |
| Alpha | +6.89% | +4.92% |
From daily NAVs, 31-07-2023 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.
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 Dividend Yield Fund (Direct)
LIC MF Multi Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Dividend Yield Fund (Direct) | −20.4% | 01-10-2024 | 28-02-2025 | 18-06-2026 | 16 months | −7.9% |
| LIC MF Multi Cap Fund (Direct) | −19.3% | 16-12-2024 | 28-02-2025 | 17-10-2025 | 8 months | −7.0% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 31-07-2023, 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 Dividend Yield Fund (Direct)
LIC MF Multi Cap Fund (Direct)
Nifty 500 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.
LIC MF Dividend Yield Fund (Direct)
LIC MF Multi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Dividend Yield Fund (Direct) | 131% | 107% | 5.67% |
| LIC MF Multi Cap Fund (Direct) | 125% | 95% | 6.85% |
From month-end values since 31-07-2023. 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.
LIC MF Dividend Yield vs LIC MF Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Dividend Yield Fund, September 2026; LIC MF Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 50.7%
- Held by both
- 32
- Only in LIC MF Dividend Yield
- 24
- Only in LIC MF Multi Cap
- 30
| Security | % of LIC MF Dividend Yield | % of LIC MF Multi Cap |
|---|---|---|
| Garware Hi-Tech Films Ltd. | 4.31% | 3.96% |
| ICICI Bank Ltd. | 3.59% | 3.33% |
| Avalon Technologies Ltd. | 3.49% | 3.05% |
| HDFC Bank Ltd. | 4.71% | 2.78% |
| Kotak Mahindra Bank Ltd. | 2.68% | 2.86% |
| LG Electronics India Ltd. | 2.15% | 2.22% |
| Axis Bank Ltd. | 2.55% | 2.05% |
| SRF Ltd. | 1.85% | 1.90% |
| Allied Blenders And Distillers Ltd. | 2.69% | 1.83% |
| Hyundai Motor India Ltd. | 1.61% | 2.21% |
| Tata Communications Ltd. | 1.66% | 1.56% |
| InterGlobe Aviation Ltd. | 2.07% | 1.53% |
| Oil India Ltd. | 1.68% | 1.53% |
| Azad Engineering Ltd. | 1.76% | 1.52% |
| Pidilite Industries Ltd. | 1.74% | 1.47% |
| Grasim Industries Ltd. | 1.69% | 1.42% |
| Shriram Finance Ltd. | 1.78% | 1.36% |
| Samvardhana Motherson International Ltd. | 1.59% | 1.30% |
| Tata Consultancy Services Ltd. | 2.45% | 1.28% |
| Tata Motors Ltd. | 1.24% | 1.64% |
| Arvind Fashions Ltd. | 1.43% | 1.16% |
| Abbott India Ltd. | 1.16% | 1.57% |
| Hindustan Aeronautics Ltd. | 1.15% | 1.22% |
| Mahindra & Mahindra Ltd. | 1.12% | 1.34% |
| Saregama India Ltd. | 1.25% | 1.09% |
| Godfrey Phillips India Ltd. | 1.08% | 1.14% |
| Cholamandalam Financial Holdings Ltd. | 1.11% | 1.05% |
| Sun Pharmaceutical Industries Ltd. | 0.94% | 1.62% |
| Techno Electric & Engineering Co. Ltd. | 1.28% | 0.89% |
| Shakti Pumps (India) Ltd. | 0.82% | 1.18% |
| Bharat Bijlee Ltd. | 0.52% | 0.63% |
| Bikaji Foods International Ltd. | 1.06% | 0.26% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 50.7% means 50.7% 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 LIC MF Dividend Yield Fund
| Security | % of fund |
|---|---|
| Neuland Laboratories Ltd. | 2.24% |
| Bharat Electronics Ltd. | 2.18% |
| NTPC Ltd. | 2.04% |
| Anthem Biosciences Ltd. | 2.02% |
| Jindal Stainless Ltd. | 2.00% |
Largest holdings only in LIC MF Multi Cap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Ltd. | 2.38% |
| Eternal Ltd. | 2.23% |
| One 97 Communications Ltd. | 2.14% |
| JSW Infrastructure Ltd. | 1.80% |
| Manorama Industries Ltd. | 1.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Dividend Yield | LIC MF Multi Cap |
|---|---|---|
| Equity | 95.1% | 93.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.9% | 6.5% |
Market cap of stocks
| Market cap | LIC MF Dividend Yield | LIC MF Multi Cap |
|---|---|---|
| Large Cap | 42.5% | 37.7% |
| Mid Cap | 19.9% | 29.8% |
| Small Cap | 32.5% | 26.0% |
| Not on AMFI's list | 0.2% | 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 Dividend Yield | LIC MF Multi Cap |
|---|---|---|
| Banks | 14.6% | 13.8% |
| Electrical Equipment | 7.5% | 7.7% |
| Retailing | 1.4% | 6.8% |
| Pharmaceuticals & Biotechnology | 6.4% | 4.2% |
| Industrial Products | 6.2% | 5.1% |
| Automobiles | 5.8% | 5.0% |
| Auto Components | 4.2% | 5.0% |
| Finance | 5.0% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Dividend Yield vs LIC MF Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Dividend Yield Fund | LIC MF Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.97% | 0.79% |
| Base expense ratio (Direct) | 0.72% | 0.49% |
| Total expense ratio (Regular) | 2.44% | 2.15% |
| Base expense ratio (Regular) | 2.04% | 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
Compare LIC MF Dividend Yield with
LIC MF Dividend Yield Fund vs LIC MF Multi Cap Fund: Frequently Asked Questions
What is the difference between LIC MF Dividend Yield Fund and LIC MF Multi Cap Fund?
LIC MF Dividend Yield Fund is a Dividend Yield fund, LIC MF Multi Cap Fund is a Multi Cap fund, run by LIC Mutual Fund. Their portfolios overlap 50.7%. LIC MF Dividend Yield Fund charges 0.97% a year and LIC MF Multi Cap Fund 0.79%.
Which has given higher returns, LIC MF Dividend Yield Fund or LIC MF Multi Cap Fund?
Over 1 year: LIC MF Dividend Yield Fund −2.19%, LIC MF Multi Cap Fund +1.01%. Over 3 years: LIC MF Dividend Yield Fund +17.64% a year, LIC MF Multi Cap Fund +16.94% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Dividend Yield Fund or LIC MF Multi Cap Fund?
LIC MF Multi Cap Fund charges less: 0.79% a year against 0.97%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Dividend Yield Fund and LIC MF Multi Cap Fund overlap?
50.7%. They hold 32 of the same securities, the largest shared ones being GRWRHITECH, ICICIBANK, AVALON. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Dividend Yield Fund or LIC MF Multi Cap Fund?
On SEBI's riskometer, LIC MF Dividend Yield Fund is rated Very High and LIC MF Multi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.91% and 15.49% a year.
Which is better for SIP, LIC MF Dividend Yield Fund or LIC MF Multi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,08,821 in LIC MF Dividend Yield Fund (XIRR 6.4% a year) and ₹4,23,612 in LIC MF Multi Cap Fund (XIRR 8.8% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Dividend Yield Fund and LIC MF Multi Cap Fund?
Yes. 50.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages LIC MF Dividend Yield Fund and LIC MF Multi Cap Fund?
LIC MF Dividend Yield Fund: Dikshit Mittal, Sumit Bhatnagar. LIC MF Multi Cap Fund: Dikshit Mittal, Mahesh Bendre, Nikhil Kapoor.
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.