LIC MF Equity Savings Fund vs LIC MF Unit Linked Insurance Scheme (ULIS)
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Equity Savings Fund is an Equity Savings fund and LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund. In the 3 years to 30-10-2026, LIC MF Equity Savings Fund (Direct) returned 8.2% a year and LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) returned 7.1% a year. LIC MF Equity Savings Fund charges 1.86% a year and LIC MF Unit Linked Insurance Scheme (ULIS) 1.80% (Direct plans). Their portfolios overlap 25.1%: they hold 22 of the same securities.
LIC MF Equity Savings Fund
Equity Savings
- 3 year return
- 8.2%
- Expense ratio
- 1.86%
- NAV
- ₹31.98
LIC MF Unit Linked Insurance Scheme (ULIS)
ELSS
- 3 year return
- 7.1%
- Expense ratio
- 1.80%
- NAV
- ₹39.28
Which is better, LIC MF Equity Savings or LIC MF Unit Linked Insurance Scheme (ULIS)? 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 Equity Savings returned more over 3 years: 8.2% a year against 7.1%.
- LIC MF Equity Savings returned more over 1 year: −0.3% against −4.8%.
- LIC MF Unit Linked Insurance Scheme (ULIS) costs less: 1.80% a year against 1.86% (Direct plans).
- LIC MF Equity Savings swung less over 3 years: a standard deviation of 6.8% a year against 10.5%.
- LIC MF Equity Savings fell less in its worst fall since 31-07-2023: −7.5% against −13.9%.
- LIC MF Unit Linked Insurance Scheme (ULIS) is the larger fund: ₹424 Cr against ₹39 Cr.
- Their portfolios overlap 25.1%: 22 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 Equity Savings Fund | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Equity Savings | ELSS |
| AUM | ₹39 Cr (30-09-2026) | ₹424 Cr (30-09-2026) |
| NAV | ₹31.98 (Direct) | ₹39.28 (Direct) |
| Expense ratio (Direct) | 1.86% | 1.80% |
| Expense ratio (Regular) | 2.83% | 2.79% |
| Riskometer | Moderate | Very High |
| Benchmark | Nifty Equity Savings Index | CRISIL Hybrid 35+65 - Aggressive Index |
| Launch date | 07-03-2011 | 19-06-1989 |
| Minimum investment | ₹5,000 | The Scheme has stopped taking new subscriptions (Lumpsum or SIP) from prospective investors. Furthermore, no additional purchase from the existing investors is accepted hereon, with effect from July 01, 2022, till further notice. |
| Lock in | None | 3 years |
| Fund managers | Siddharth Panjwani, Pratik Harish Shroff | Siddharth Panjwani, Pratik Harish Shroff |
| Exit load | Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 3 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 3 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 3 months from the date of allotment. | Nil (Lock-in Period:- Repurchase after lock-in period of 3 years from the date of Investment.) |
LIC MF Equity Savings vs LIC MF Unit Linked Insurance Scheme (ULIS): 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 Equity Savings Fund (Direct) | −1.15% | −1.22% | +0.64% | −0.33% | +8.23% | -- | -- |
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | −2.20% | −4.03% | +0.42% | −4.81% | +7.06% | +6.23% | +9.91% |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
Category average: the average of the 23 Equity Savings funds and the 50 ELSS funds, same plan type.
LIC MF Equity Savings vs LIC MF Unit Linked Insurance Scheme (ULIS): Year-wise Returns
| Year | Equity SavingsLIC MF Equity Savings | Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| 2026to date | +0.33% | −3.48% |
| 2025 | +8.46% | +3.67% |
| 2024 | +10.05% | +12.96% |
| 2023 | -- | +17.69% |
| 2022 | -- | +1.20% |
| 2021 | -- | +26.69% |
LIC MF Equity Savings vs LIC MF Unit Linked Insurance Scheme (ULIS): Rolling Returns
Every holding period of both funds
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 Equity Savings Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LIC MF Equity Savings | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.8% | 8.7% | 7.8% | 9.7% |
| LIC MF Unit Linked Insurance Scheme (ULIS) | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.1% | 8.0% | 5.9% | 9.8% |
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. Every fund is measured over the days all of them have, from 31-07-2023. Past returns do not promise future returns.
LIC MF Equity Savings vs LIC MF Unit Linked Insurance Scheme (ULIS): 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 Equity SavingsLIC MF Equity Savings Fund (Direct) | ₹4,00,000 | ₹4,38,447 | ₹38,447 | 5.5% |
| LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | ₹4,00,000 | ₹4,15,639 | ₹15,639 | 2.3% |
LIC MF Equity SavingsLIC MF Equity Savings Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) (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 Equity Savings vs LIC MF Unit Linked Insurance Scheme (ULIS): Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Equity Savings Fund (Direct) | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) |
|---|---|---|
| Return (CAGR) | −0.33% | −4.81% |
| Standard deviation | 5.43% | 11.55% |
| Sharpe ratio | -1.03 | -0.87 |
| Sortino ratio | -1.37 | -1.17 |
| Maximum drawdown | −5.5% (30-03-2026) | −12.1% (30-03-2026) |
| 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 Equity Savings Fund (Direct) | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) |
|---|---|---|
| Return (CAGR) | +8.23% | +7.06% |
| Standard deviation | 6.85% | 10.48% |
| Sharpe ratio | 0.32 | 0.10 |
| Sortino ratio | 0.44 | 0.14 |
| Maximum drawdown | −7.5% (03-03-2025) | −13.9% (30-03-2026) |
| 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 Equity Savings Fund (Direct) | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) |
|---|---|---|
| Return (CAGR) | +7.75% | +9.29% |
| Standard deviation | 6.69% | 12.29% |
| Sharpe ratio | 0.25 | 0.30 |
| Sortino ratio | 0.34 | 0.40 |
| Maximum drawdown | −7.5% (03-03-2025) | −31.0% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Equity Savings Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Equity Savings Fund (Direct) | −7.5% | 16-12-2024 | 03-03-2025 | 16-04-2025 | 44 days | −2.9% |
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | −13.9% | 01-07-2025 | 30-03-2026 | Not yet | -- | −6.8% |
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 Equity Savings Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (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 Equity Savings Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
LIC MF Equity Savings vs LIC MF Unit Linked Insurance Scheme (ULIS): Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Equity Savings Fund, September 2026; LIC MF Unit Linked Insurance Scheme (ULIS), September 2026
Holdings in common
- Overlap
- 25.1%
- Held by both
- 22
- Only in LIC MF Equity Savings
- 38
- Only in LIC MF Unit Linked Insurance Scheme (ULIS)
- 26
| Security | % of LIC MF Equity Savings | % of LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Eternal Ltd. | 2.01% | 2.56% |
| Bajaj Auto Ltd. | 1.79% | 3.97% |
| Divi's Laboratories Ltd. | 1.68% | 4.00% |
| Solar Industries India Ltd. | 1.60% | 3.88% |
| Torrent Pharmaceuticals Ltd. | 1.59% | 3.62% |
| Ajanta Pharma Ltd. | 1.47% | 1.92% |
| Sona BLW Precision Forgings Ltd. | 1.29% | 3.91% |
| FSN E-Commerce Ventures Ltd. | 1.27% | 2.79% |
| Bharti Airtel Ltd. | 1.23% | 3.31% |
| Endurance Technologies Ltd. | 1.20% | 1.88% |
| Titan Company Ltd. | 1.19% | 3.13% |
| Ujjivan Small Finance Bank Ltd. | 1.07% | 1.95% |
| ICICI Bank Ltd. | 0.96% | 1.25% |
| Bajaj Finance Ltd. | 0.93% | 1.36% |
| Cartrade Tech Ltd. | 0.90% | 1.37% |
| Godfrey Phillips India Ltd. | 1.09% | 0.87% |
| Garware Hi-Tech Films Ltd. | 0.85% | 2.31% |
| Infosys Ltd. | 0.93% | 0.82% |
| Lumax Auto Technologies Ltd. | 0.70% | 0.98% |
| Bharat Electronics Ltd. | 0.68% | 1.83% |
| Creditaccess Grameen Ltd. | 0.49% | 1.80% |
| Thermax Ltd. | 0.48% | 1.44% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 25.1% means 25.1% 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 Equity Savings Fund
| Security | % of fund |
|---|---|
| LIC MF LIQUID FUND-DR PLN-GR | 9.73% |
| Cipla Ltd. | 2.66% |
| State Bank of India | 2.23% |
| APL Apollo Tubes Ltd. | 1.78% |
| Bank of Baroda | 1.74% |
Largest holdings only in LIC MF Unit Linked Insurance Scheme (ULIS)
| Security | % of fund |
|---|---|
| 7.63% State Government of Maharashtra | 3.53% |
| Navin Fluorine International Ltd. | 2.62% |
| 6.94% Government of India | 2.38% |
| Zydus Lifesciences Ltd. | 2.30% |
| Avenue Supermarts Ltd. | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Equity Savings | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Equity | 66.3% | 76.3% |
| Debt | 0.0% | 14.1% |
| Cash and others | 33.7% | 9.6% |
Market cap of stocks
| Market cap | LIC MF Equity Savings | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Large Cap | 40.1% | 33.0% |
| Mid Cap | 20.4% | 19.6% |
| Small Cap | 5.9% | 19.9% |
| Not on AMFI's list | 0.0% | 3.9% |
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 Equity Savings | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Pharmaceuticals & Biotechnology | 7.4% | 11.8% |
| Banks | 9.4% | 4.5% |
| Retailing | 5.7% | 8.8% |
| Auto Components | 3.7% | 6.8% |
| Chemicals & Petrochemicals | 1.6% | 6.5% |
| Electrical Equipment | 2.3% | 5.4% |
| Automobiles | 4.9% | 4.0% |
| IT - Software | 4.5% | 2.6% |
| Consumer Durables | 4.2% | 3.1% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Equity Savings vs LIC MF Unit Linked Insurance Scheme (ULIS): Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Equity Savings Fund | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Total expense ratio (Direct) | 1.86% | 1.80% |
| Base expense ratio (Direct) | 1.11% | 1.19% |
| Total expense ratio (Regular) | 2.83% | 2.79% |
| Base expense ratio (Regular) | 1.99% | 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 Equity Savings with
Compare LIC MF Unit Linked Insurance Scheme (ULIS) with
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- LIC MF Unit Linked Insurance Scheme (ULIS) vs WhiteOak Capital ELSS Tax Saver
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LIC MF Equity Savings Fund vs LIC MF Unit Linked Insurance Scheme (ULIS): Frequently Asked Questions
What is the difference between LIC MF Equity Savings Fund and LIC MF Unit Linked Insurance Scheme (ULIS)?
LIC MF Equity Savings Fund is an Equity Savings fund, LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund, run by LIC Mutual Fund. Their portfolios overlap 25.1%. LIC MF Equity Savings Fund charges 1.86% a year and LIC MF Unit Linked Insurance Scheme (ULIS) 1.80%.
Which has given higher returns, LIC MF Equity Savings Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
Over 1 year: LIC MF Equity Savings Fund −0.33%, LIC MF Unit Linked Insurance Scheme (ULIS) −4.81%. Over 3 years: LIC MF Equity Savings Fund +8.23% a year, LIC MF Unit Linked Insurance Scheme (ULIS) +7.06% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Equity Savings Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
LIC MF Unit Linked Insurance Scheme (ULIS) charges less: 1.80% a year against 1.86%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Equity Savings Fund and LIC MF Unit Linked Insurance Scheme (ULIS) overlap?
25.1%. They hold 22 of the same securities, the largest shared ones being ETERNAL, BAJAJ-AUTO, DIVISLAB. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Equity Savings Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
On SEBI's riskometer, LIC MF Equity Savings Fund is rated Moderate and LIC MF Unit Linked Insurance Scheme (ULIS) Very High. Over 3 years, the standard deviation of daily returns was 6.85% and 10.48% a year.
Which is better for SIP, LIC MF Equity Savings Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,00,245 in LIC MF Equity Savings Fund (XIRR 5.0% a year) and ₹3,78,696 in LIC MF Unit Linked Insurance Scheme (ULIS) (XIRR 1.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Equity Savings Fund and LIC MF Unit Linked Insurance Scheme (ULIS)?
Yes. 25.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF Equity Savings Fund and LIC MF Unit Linked Insurance Scheme (ULIS)?
LIC MF Equity Savings Fund: Siddharth Panjwani, Pratik Harish Shroff. LIC MF Unit Linked Insurance Scheme (ULIS): Siddharth Panjwani, Pratik Harish Shroff.
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.