LIC MF Equity Savings Fund vs Mirae Asset Equity Savings Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Equity Savings Fund and Mirae Asset Equity Savings Fund are both Equity Savings funds. In the 3 years to 30-10-2026, LIC MF Equity Savings Fund (Direct) returned 8.2% a year and Mirae Asset Equity Savings Fund (Direct) returned 10.0% a year. LIC MF Equity Savings Fund charges 1.86% a year and Mirae Asset Equity Savings Fund 0.73% (Direct plans). Their portfolios overlap 22.5%: they hold 39 of the same securities.
LIC MF Equity Savings Fund
Equity Savings
- 3 year return
- 8.2%
- Expense ratio
- 1.86%
- NAV
- ₹31.98
Mirae Asset Equity Savings Fund
Equity Savings
- 3 year return
- 10.0%
- Expense ratio
- 0.73%
- NAV
- ₹22.84
Which is better, LIC MF Equity Savings or Mirae Asset Equity Savings? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Equity Savings returned more over 3 years: 10.0% a year against 8.2%.
- Mirae Asset Equity Savings returned more over 1 year: 2.6% against −0.3%.
- Mirae Asset Equity Savings costs less: 0.73% a year against 1.86% (Direct plans).
- Mirae Asset Equity Savings swung less over 3 years: a standard deviation of 5.7% a year against 6.8%.
- Mirae Asset Equity Savings fell less in its worst fall since 31-07-2023: −5.1% against −7.5%.
- Mirae Asset Equity Savings is the larger fund: ₹1,994 Cr against ₹39 Cr.
- Their portfolios overlap 22.5%: 39 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 | Mirae Asset Equity Savings Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Mirae Asset Mutual Fund |
| Category | Equity Savings | Equity Savings |
| AUM | ₹39 Cr (30-09-2026) | ₹1,994 Cr (30-09-2026) |
| NAV | ₹31.98 (Direct) | ₹22.84 (Direct) |
| Expense ratio (Direct) | 1.86% | 0.73% |
| Expense ratio (Regular) | 2.83% | 1.73% |
| Riskometer | Moderate | Moderately High |
| Benchmark | Nifty Equity Savings Index | Nifty Equity Savings Index |
| Launch date | 07-03-2011 | 17-12-2018 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Siddharth Panjwani, Pratik Harish Shroff | Harshad Borawake, Vrijesh Kasera, Bharti Sawant, Basant Bafna |
| 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. | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 90 Days. |
LIC MF Equity Savings vs Mirae Asset Equity Savings: 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% | -- | -- |
| Mirae Asset Equity Savings Fund (Direct) | +0.07% | −0.57% | +1.77% | +2.60% | +9.98% | +8.69% | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
Category average: the average of the 23 Equity Savings funds, same plan type.
LIC MF Equity Savings vs Mirae Asset Equity Savings: Year-wise Returns
| Year | LIC MFLIC MF Equity Savings | Mirae AssetMirae Asset Equity Savings |
|---|---|---|
| 2026to date | +0.33% | +1.45% |
| 2025 | +8.46% | +9.77% |
| 2024 | +10.05% | +12.51% |
| 2023 | -- | +15.09% |
| 2022 | -- | +4.73% |
| 2021 | -- | +16.90% |
LIC MF Equity Savings vs Mirae Asset Equity Savings: 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)
Mirae Asset Equity Savings Fund (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% |
| Mirae Asset Equity Savings | 0.0 | 0.0 | 49.2 | 50.8 | 0.0 | 0.0 | 0.0 | 10.1% | 10.0% | 9.4% | 10.9% |
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 Mirae Asset Equity Savings: 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% |
| Mirae Asset Equity SavingsMirae Asset Equity Savings Fund (Direct) | ₹4,00,000 | ₹4,50,290 | ₹50,290 | 7.1% |
LIC MF Equity SavingsLIC MF Equity Savings Fund (Direct)
Mirae Asset Equity SavingsMirae Asset Equity Savings 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 Equity Savings vs Mirae Asset Equity Savings: 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) | Mirae Asset Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.33% | +2.60% |
| Standard deviation | 5.43% | 5.76% |
| Sharpe ratio | -1.03 | -0.46 |
| Sortino ratio | -1.37 | -0.63 |
| Maximum drawdown | −5.5% (30-03-2026) | −5.1% (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) | Mirae Asset Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.23% | +9.98% |
| Standard deviation | 6.85% | 5.66% |
| Sharpe ratio | 0.32 | 0.70 |
| Sortino ratio | 0.44 | 0.97 |
| Maximum drawdown | −7.5% (03-03-2025) | −5.1% (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) | Mirae Asset Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.75% | +11.02% |
| Standard deviation | 6.69% | 7.23% |
| Sharpe ratio | 0.25 | 0.80 |
| Sortino ratio | 0.34 | 1.08 |
| Maximum drawdown | −7.5% (03-03-2025) | −18.2% (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)
Mirae Asset Equity Savings Fund (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% |
| Mirae Asset Equity Savings Fund (Direct) | −5.1% | 18-02-2026 | 30-03-2026 | 18-06-2026 | 3 months | −1.6% |
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)
Mirae Asset Equity Savings 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 Equity Savings Fund (Direct)
Mirae Asset Equity Savings Fund (Direct)
LIC MF Equity Savings vs Mirae Asset Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Equity Savings Fund, September 2026; Mirae Asset Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 22.5%
- Held by both
- 39
- Only in LIC MF Equity Savings
- 21
- Only in Mirae Asset Equity Savings
- 130
| Security | % of LIC MF Equity Savings | % of Mirae Asset Equity Savings |
|---|---|---|
| State Bank of India | 2.23% | 2.07% |
| Kotak Mahindra Bank Ltd. | 1.29% | 1.28% |
| Bharti Airtel Ltd. | 1.23% | 2.24% |
| Titan Company Ltd. | 1.19% | 1.27% |
| HDFC Bank Ltd. | 1.19% | 3.01% |
| Tata Steel Ltd. | 1.18% | 1.39% |
| ICICI Bank Ltd. | 0.96% | 3.28% |
| Bajaj Finance Ltd. | 0.93% | 1.02% |
| Eicher Motors Ltd. | 0.92% | 1.06% |
| Maruti Suzuki India Ltd. | 0.93% | 0.86% |
| Eternal Ltd. | 2.01% | 0.81% |
| FSN E-Commerce Ventures Ltd. | 1.27% | 0.68% |
| Larsen & Toubro Ltd. | 0.68% | 0.98% |
| Hindustan Aeronautics Ltd. | 0.67% | 0.76% |
| Infosys Ltd. | 0.93% | 0.55% |
| LG Electronics India Ltd. | 1.47% | 0.55% |
| Divi's Laboratories Ltd. | 1.68% | 0.55% |
| Hindalco Industries Ltd. | 1.36% | 0.53% |
| Ashok Leyland Ltd. | 1.59% | 0.51% |
| Tata Consultancy Services Ltd. | 1.43% | 0.51% |
| Sona BLW Precision Forgings Ltd. | 1.29% | 0.51% |
| HDFC Life Insurance Company Ltd. | 0.74% | 0.43% |
| Hero MotoCorp Ltd. | 1.22% | 0.42% |
| Bharat Electronics Ltd. | 0.68% | 0.40% |
| Bank of Baroda | 1.74% | 0.34% |
| Torrent Pharmaceuticals Ltd. | 1.59% | 0.31% |
| Ultratech Cement Ltd. | 1.42% | 0.30% |
| National Aluminium Company Ltd. | 0.99% | 0.29% |
| Apollo Hospitals Enterprise Ltd. | 1.06% | 0.26% |
| Hitachi Energy India Ltd. | 0.95% | 0.21% |
| Max Financial Services Ltd. | 0.71% | 0.21% |
| Coforge Ltd. | 1.07% | 0.19% |
| HDFC Asset Management Company Ltd. | 0.88% | 0.18% |
| AU Small Finance Bank Ltd. | 0.97% | 0.16% |
| Asian Paints Ltd. | 1.09% | 0.14% |
| Muthoot Finance Ltd. | 0.71% | 0.09% |
| United Spirits Ltd. | 0.84% | 0.08% |
| Crompton Greaves Cons Electrical Ltd. | 0.46% | 0.07% |
| Radico Khaitan Ltd. | 1.41% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.5% means 22.5% 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 Equity Savings Fund
| Security | % of fund |
|---|---|
| LIC MF LIQUID FUND-DR PLN-GR | 9.73% |
| Cipla Ltd. | 2.66% |
| Bajaj Auto Ltd. | 1.79% |
| APL Apollo Tubes Ltd. | 1.78% |
| Solar Industries India Ltd. | 1.60% |
Largest holdings only in Mirae Asset Equity Savings Fund
| Security | % of fund |
|---|---|
| 8.65% Muthoot Finance Ltd. (MD 31/01/2028) | 2.50% |
| 7.88% Muthoot Finance Ltd. (MD 22/11/2028) | 2.46% |
| 7.47% Reliance Industries Ltd. (MD 16/09/2031) | 2.44% |
| Reliance Industries Ltd. | 2.21% |
| Axis Bank Ltd. | 2.12% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Equity Savings | Mirae Asset Equity Savings |
|---|---|---|
| Equity | 66.3% | 64.9% |
| Debt | 0.0% | 29.7% |
| Cash and others | 33.7% | 5.5% |
Market cap of stocks
| Market cap | LIC MF Equity Savings | Mirae Asset Equity Savings |
|---|---|---|
| Large Cap | 40.1% | 45.1% |
| Mid Cap | 20.4% | 11.7% |
| Small Cap | 5.9% | 6.4% |
| Not on AMFI's list | 0.0% | 1.6% |
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 | Mirae Asset Equity Savings |
|---|---|---|
| Banks | 9.4% | 13.9% |
| Pharmaceuticals & Biotechnology | 7.4% | 5.2% |
| Retailing | 5.7% | 2.2% |
| Automobiles | 4.9% | 4.9% |
| IT - Software | 4.5% | 2.0% |
| Consumer Durables | 4.2% | 3.0% |
| Finance | 2.1% | 3.4% |
| Petroleum Products | 0.0% | 2.6% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Equity Savings vs Mirae Asset Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Equity Savings Fund | Mirae Asset Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.86% | 0.73% |
| Base expense ratio (Direct) | 1.11% | 0.31% |
| Total expense ratio (Regular) | 2.83% | 1.73% |
| Base expense ratio (Regular) | 1.99% | 1.16% |
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
LIC MF Equity Savings Fund vs Mirae Asset Equity Savings Fund: Frequently Asked Questions
What is the difference between LIC MF Equity Savings Fund and Mirae Asset Equity Savings Fund?
Both are Equity Savings funds, run by LIC Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 22.5%. LIC MF Equity Savings Fund charges 1.86% a year and Mirae Asset Equity Savings Fund 0.73%.
Which has given higher returns, LIC MF Equity Savings Fund or Mirae Asset Equity Savings Fund?
Over 1 year: LIC MF Equity Savings Fund −0.33%, Mirae Asset Equity Savings Fund +2.60%. Over 3 years: LIC MF Equity Savings Fund +8.23% a year, Mirae Asset Equity Savings Fund +9.98% 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 Mirae Asset Equity Savings Fund?
Mirae Asset Equity Savings Fund charges less: 0.73% 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 Mirae Asset Equity Savings Fund overlap?
22.5%. They hold 39 of the same securities, the largest shared ones being SBIN, KOTAKBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Equity Savings Fund or Mirae Asset Equity Savings Fund?
On SEBI's riskometer, LIC MF Equity Savings Fund is rated Moderate and Mirae Asset Equity Savings Fund Moderately High. Over 3 years, the standard deviation of daily returns was 6.85% and 5.66% a year.
Which is better for SIP, LIC MF Equity Savings Fund or Mirae Asset Equity Savings Fund?
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 ₹4,10,050 in Mirae Asset Equity Savings Fund (XIRR 6.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Equity Savings Fund and Mirae Asset Equity Savings Fund?
Yes. 22.5% 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 Mirae Asset Equity Savings Fund?
LIC MF Equity Savings Fund: Siddharth Panjwani, Pratik Harish Shroff. Mirae Asset Equity Savings Fund: Harshad Borawake, Vrijesh Kasera, Bharti Sawant, Basant Bafna.
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.