LIC MF Focused Fund vs LIC MF Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Focused Fund is a Focused fund and LIC MF Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, LIC MF Focused Fund (Direct) returned 8.5% a year and LIC MF Value Fund (Direct) returned 16.1% a year. LIC MF Focused Fund charges 2.35% a year and LIC MF Value Fund 1.78% (Direct plans). Their portfolios overlap 54.4%: they hold 24 of the same securities.
Which is better, LIC MF Focused or LIC MF Value? 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 Value returned more over 3 years: 16.1% a year against 8.5%.
- LIC MF Value returned more over 1 year: 10.9% against −5.1%.
- LIC MF Value costs less: 1.78% a year against 2.35% (Direct plans).
- LIC MF Focused swung less over 3 years: a standard deviation of 15.4% a year against 17.2%.
- LIC MF Focused fell less in its worst fall since 31-07-2023: −21.1% against −25.2%.
- LIC MF Value is the larger fund: ₹336 Cr against ₹171 Cr.
- Their portfolios overlap 54.4%: 24 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 Focused Fund | LIC MF Value Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Focused | Value and Contra |
| AUM | ₹171 Cr (30-09-2026) | ₹336 Cr (30-09-2026) |
| NAV | ₹22.89 (Direct) | ₹29.46 (Direct) |
| Expense ratio (Direct) | 2.35% | 1.78% |
| Expense ratio (Regular) | 3.49% | 3.22% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 17-11-2017 | 20-08-2018 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Mahesh Bendre | Mahesh Bendre |
| 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. | 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. |
LIC MF Focused vs LIC MF Value: 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 Focused Fund (Direct) | −4.78% | −4.77% | +4.19% | −5.12% | +8.47% | -- | -- |
| LIC MF Value Fund (Direct) | −5.40% | −3.78% | +5.94% | +10.90% | +16.07% | -- | -- |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | -- | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | -- | -- |
Category average: the average of the 28 Focused funds and the 30 Value and Contra funds, same plan type.
LIC MF Focused vs LIC MF Value: Year-wise Returns
| Year | FocusedLIC MF Focused | ValueLIC MF Value | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −3.87% | +11.43% | −7.51% |
| 2025 | +5.46% | −5.73% | +7.76% |
| 2024 | +13.44% | +30.38% | +16.24% |
LIC MF Focused vs LIC MF Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
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 Focused Fund (Direct)
LIC MF Value 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 Focused | 0.0 | 0.0 | 60.7 | 39.3 | 0.0 | 0.0 | 0.0 | 9.7% | 9.6% | 7.7% | 11.7% | 0% |
| LIC MF Value | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 17.6% | 17.5% | 15.2% | 19.6% | 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 Focused vs LIC MF Value: 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 FocusedLIC MF Focused Fund (Direct) | ₹4,00,000 | ₹4,20,264 | ₹20,264 | 2.9% |
| LIC MF ValueLIC MF Value Fund (Direct) | ₹4,00,000 | ₹4,79,140 | ₹79,140 | 10.9% |
LIC MF FocusedLIC MF Focused Fund (Direct)
LIC MF ValueLIC MF Value 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 Focused vs LIC MF Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Focused Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.12% | +10.90% |
| Standard deviation | 15.40% | 16.55% |
| Sharpe ratio | -0.67 | 0.34 |
| Sortino ratio | -0.90 | 0.49 |
| Maximum drawdown | −15.9% (31-03-2026) | −10.9% (31-03-2026) |
| Beta | 0.98 | 1.04 |
| Alpha | +1.91% | +18.74% |
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 Focused Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.47% | +16.07% |
| Standard deviation | 15.45% | 17.18% |
| Sharpe ratio | 0.16 | 0.58 |
| Sortino ratio | 0.22 | 0.79 |
| Maximum drawdown | −21.1% (03-03-2025) | −25.2% (03-03-2025) |
| Beta | 0.97 | 1.09 |
| Alpha | −1.60% | +5.49% |
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 Focused Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.24% | +14.94% |
| Standard deviation | 15.05% | 16.73% |
| Sharpe ratio | 0.08 | 0.53 |
| Sortino ratio | 0.10 | 0.71 |
| Maximum drawdown | −21.1% (03-03-2025) | −25.2% (03-03-2025) |
| Beta | 0.96 | 1.08 |
| Alpha | −1.68% | +5.67% |
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 Focused Fund (Direct)
LIC MF Value 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 Focused Fund (Direct) | −21.1% | 23-09-2024 | 03-03-2025 | Not yet | -- | −9.9% |
| LIC MF Value Fund (Direct) | −25.2% | 17-12-2024 | 03-03-2025 | 15-06-2026 | 15 months | −7.6% |
| 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 Focused Fund (Direct)
LIC MF Value 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 Focused Fund (Direct)
LIC MF Value Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Focused Fund (Direct) | 91% | 97% | 6.52% |
| LIC MF Value Fund (Direct) | 126% | 103% | 8.72% |
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 Focused vs LIC MF Value: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Focused Fund, September 2026; LIC MF Value Fund, September 2026
Holdings in common
- Overlap
- 54.4%
- Held by both
- 24
- Only in LIC MF Focused
- 4
- Only in LIC MF Value
- 26
| Security | % of LIC MF Focused | % of LIC MF Value |
|---|---|---|
| INDO-MIM Ltd. | 7.55% | 7.68% |
| Tata Motors Passenger Vehicles Ltd. | 6.81% | 5.03% |
| HDFC Bank Ltd. | 3.60% | 3.51% |
| Schaeffler India Ltd. | 3.25% | 3.32% |
| Gabriel India Ltd. | 2.65% | 2.65% |
| Garware Hi-Tech Films Ltd. | 4.11% | 2.56% |
| Tenneco Clean Air India Ltd. | 2.52% | 2.95% |
| Tata Motors Ltd. | 3.90% | 2.19% |
| Hyundai Motor India Ltd. | 2.15% | 3.12% |
| Oracle Financial Services Software Ltd. | 3.38% | 1.95% |
| Foseco India Ltd. | 1.89% | 2.59% |
| State Bank of India | 3.62% | 1.87% |
| KSH International Ltd. | 3.38% | 1.82% |
| NTPC Ltd. | 3.39% | 1.76% |
| InterGlobe Aviation Ltd. | 3.71% | 1.67% |
| ICICI Bank Ltd. | 3.55% | 1.67% |
| Bharat Forge Ltd. | 3.66% | 1.62% |
| Tata Power Company Ltd. | 3.23% | 1.59% |
| Arvind Ltd. | 1.58% | 2.74% |
| Schneider Electric Infrastructure Ltd. | 2.94% | 1.55% |
| Axis Bank Ltd. | 2.54% | 1.25% |
| Mahindra & Mahindra Financial Serv Ltd. | 2.68% | 1.13% |
| Sun Pharmaceutical Industries Ltd. | 2.60% | 0.84% |
| Mahindra Lifespace Developers Ltd. | 2.35% | 0.81% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 54.4% means 54.4% 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 Focused Fund
| Security | % of fund |
|---|---|
| The Phoenix Mills Ltd. | 3.56% |
| Divgi Torqtransfer Systems Ltd. | 2.83% |
| Metro Brands Ltd. | 2.44% |
| Infosys Ltd. | 1.52% |
Largest holdings only in LIC MF Value Fund
| Security | % of fund |
|---|---|
| Kirloskar Brothers Ltd. | 3.60% |
| NSE India Ltd. | 3.36% |
| Nephrocare Health Services Ltd. | 3.14% |
| SML Mahindra Ltd. | 3.06% |
| Saregama India Ltd. | 2.96% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Focused | LIC MF Value |
|---|---|---|
| Equity | 91.4% | 97.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 8.6% | 3.0% |
Market cap of stocks
| Market cap | LIC MF Focused | LIC MF Value |
|---|---|---|
| Large Cap | 40.6% | 32.8% |
| Mid Cap | 16.5% | 10.6% |
| Small Cap | 26.7% | 42.0% |
| Not on AMFI's list | 7.5% | 11.6% |
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 Focused | LIC MF Value |
|---|---|---|
| Auto Components | 14.9% | 13.4% |
| Banks | 13.3% | 10.3% |
| Industrial Products | 7.5% | 9.1% |
| Automobiles | 9.0% | 8.2% |
| Industrial Manufacturing | 7.5% | 8.1% |
| Power | 6.6% | 3.5% |
| Agricultural, Commercial & Construction Vehicles | 3.9% | 5.3% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Focused vs LIC MF Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Focused Fund | LIC MF Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.35% | 1.78% |
| Base expense ratio (Direct) | 1.12% | 0.86% |
| Total expense ratio (Regular) | 3.49% | 3.22% |
| 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 Focused with
LIC MF Focused Fund vs LIC MF Value Fund: Frequently Asked Questions
What is the difference between LIC MF Focused Fund and LIC MF Value Fund?
LIC MF Focused Fund is a Focused fund, LIC MF Value Fund is a Value and Contra fund, run by LIC Mutual Fund. Their portfolios overlap 54.4%. LIC MF Focused Fund charges 2.35% a year and LIC MF Value Fund 1.78%.
Which has given higher returns, LIC MF Focused Fund or LIC MF Value Fund?
Over 1 year: LIC MF Focused Fund −5.12%, LIC MF Value Fund +10.90%. Over 3 years: LIC MF Focused Fund +8.47% a year, LIC MF Value Fund +16.07% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Focused Fund or LIC MF Value Fund?
LIC MF Value Fund charges less: 1.78% a year against 2.35%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Focused Fund and LIC MF Value Fund overlap?
54.4%. They hold 24 of the same securities, the largest shared ones being INDOMIM, TMPV, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Focused Fund or LIC MF Value Fund?
On SEBI's riskometer, LIC MF Focused Fund is rated Very High and LIC MF Value Fund Very High. Over 3 years, the standard deviation of daily returns was 15.45% and 17.18% a year.
Which is better for SIP, LIC MF Focused Fund or LIC MF Value Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,82,720 in LIC MF Focused Fund (XIRR 2.2% a year) and ₹4,32,296 in LIC MF Value Fund (XIRR 10.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Focused Fund and LIC MF Value Fund?
Yes. 54.4% 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 Focused Fund and LIC MF Value Fund?
LIC MF Focused Fund: Mahesh Bendre. LIC MF Value Fund: Mahesh Bendre.
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.