LIC MF Gilt Fund vs Nippon India Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Gilt Fund and Nippon India Gilt Fund are both Gilt funds. In the 3 years to 30-10-2026, LIC MF Gilt Fund (Direct) returned 5.4% a year and Nippon India Gilt Fund (Direct) returned 6.2% a year. LIC MF Gilt Fund charges 0.70% a year and Nippon India Gilt Fund 0.52% (Direct plans). Their portfolios overlap 20.3%: they hold 3 of the same securities.
Which is better, LIC MF Gilt or Nippon India Gilt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Gilt returned more over 5 years: 5.4% a year against 4.9%.
- Nippon India Gilt returned more over 3 years: 6.2% a year against 5.4%.
- Nippon India Gilt costs less: 0.52% a year against 0.70% (Direct plans).
- Nippon India Gilt swung less over 3 years: a standard deviation of 3.0% a year against 3.5%.
- LIC MF Gilt fell less in its worst fall since 02-01-2013: −7.4% against −11.8%.
- Nippon India Gilt is the larger fund: ₹1,487 Cr against ₹44 Cr.
- Their portfolios overlap 20.3%: 3 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 Gilt Fund | Nippon India Gilt Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Nippon India Mutual Fund |
| Category | Gilt | Gilt |
| AUM | ₹44 Cr (30-09-2026) | ₹1,487 Cr (30-09-2026) |
| NAV | ₹66.47 (Direct) | ₹43.95 (Direct) |
| Expense ratio (Direct) | 0.70% | 0.52% |
| Expense ratio (Regular) | 1.10% | 1.21% |
| Riskometer | Low to Moderate | Moderate |
| Benchmark | Nifty All Duration G-Sec Index | Nifty All Duration G-Sec Index |
| Launch date | 10-12-1999 | 22-08-2008 |
| Minimum investment | ₹10,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Pratik Harish Shroff, Rahul Singh | Pranay Sinha |
| Exit load | 0.25% if exit within 30 days from date of allotment of units | Nil |
LIC MF Gilt vs Nippon India Gilt: 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 Gilt Fund (Direct) | −0.55% | −0.43% | +2.56% | +2.20% | +5.41% | +4.86% | +6.26% |
| Nippon India Gilt Fund (Direct) | −0.64% | −0.96% | +2.08% | +2.49% | +6.20% | +5.44% | +7.15% |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 28 Gilt funds, same plan type.
LIC MF Gilt vs Nippon India Gilt: Year-wise Returns
| Year | LIC MFLIC MF Gilt | Nippon IndiaNippon India Gilt |
|---|---|---|
| 2026to date | +1.52% | +1.99% |
| 2025 | +3.53% | +4.51% |
| 2024 | +9.32% | +9.76% |
| 2023 | +7.00% | +7.61% |
| 2022 | +2.56% | +3.04% |
| 2021 | +2.49% | +2.79% |
LIC MF Gilt vs Nippon India Gilt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,618 of them, one for each trading day from 04-01-2016 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 Gilt Fund (Direct)
Nippon India Gilt Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
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 Gilt | 0.0 | 10.4 | 69.6 | 20.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.4% | 3.6% | 13.4% |
| Nippon India Gilt | 0.0 | 6.7 | 57.4 | 33.8 | 2.0 | 0.0 | 0.0 | 9.0% | 9.2% | 3.9% | 16.5% |
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. Every fund is measured over the days all of them have, from 02-01-2013. Past returns do not promise future returns.
LIC MF Gilt vs Nippon India Gilt: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF GiltLIC MF Gilt Fund (Direct) | ₹16,60,000 | ₹26,45,819 | ₹9,85,819 | 6.5% |
| Nippon India GiltNippon India Gilt Fund (Direct) | ₹16,60,000 | ₹28,48,937 | ₹11,88,937 | 7.4% |
LIC MF GiltLIC MF Gilt Fund (Direct)
Nippon India GiltNippon India Gilt 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 Gilt vs Nippon India Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Gilt Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.20% | +2.49% |
| Standard deviation | 4.27% | 3.44% |
| Sharpe ratio | -0.71 | -0.80 |
| Sortino ratio | -1.00 | -1.10 |
| Maximum drawdown | −4.1% (02-04-2026) | −2.5% (02-04-2026) |
| 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 Gilt Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.41% | +6.20% |
| Standard deviation | 3.47% | 2.98% |
| Sharpe ratio | -0.18 | 0.06 |
| Sortino ratio | -0.25 | 0.08 |
| Maximum drawdown | −5.6% (02-04-2026) | −3.7% (26-08-2025) |
| 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 Gilt Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.86% | +5.44% |
| Standard deviation | 2.85% | 2.65% |
| Sharpe ratio | -0.33 | -0.13 |
| Sortino ratio | -0.46 | -0.19 |
| Maximum drawdown | −5.6% (02-04-2026) | −3.7% (26-08-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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 Gilt Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.98% | +8.41% |
| Standard deviation | 3.49% | 4.06% |
| Sharpe ratio | 0.27 | 0.58 |
| Sortino ratio | 0.38 | 0.83 |
| Maximum drawdown | −7.4% (19-08-2013) | −11.8% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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 Gilt Fund (Direct)
Nippon India Gilt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Gilt Fund (Direct) | −7.4% | 04-06-2013 | 19-08-2013 | 03-06-2014 | 9 months | −1.7% |
| Nippon India Gilt Fund (Direct) | −11.8% | 04-06-2013 | 19-08-2013 | 29-05-2014 | 9 months | −2.1% |
From daily values since 02-01-2013, 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 Gilt Fund (Direct)
Nippon India Gilt 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 Gilt Fund (Direct)
Nippon India Gilt Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
LIC MF Gilt Fund (Direct)
Nippon India Gilt Fund (Direct)
LIC MF Gilt vs Nippon India Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Gilt Fund, September 2026; Nippon India Gilt Fund, September 2026
Holdings in common
- Overlap
- 20.3%
- Held by both
- 3
- Only in LIC MF Gilt
- 2
- Only in Nippon India Gilt
- 39
| Security | % of LIC MF Gilt | % of Nippon India Gilt |
|---|---|---|
| 7.34% Government of India | 11.17% | 9.15% |
| 364 DAYS TBILL RED 10-12-2026 | 17.99% | 6.66% |
| 7.3% Government of India | 33.43% | 4.52% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.3% means 20.3% 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 Gilt Fund
| Security | % of fund |
|---|---|
| 91 DAYS TBILL RED 10-12-2026 | 22.49% |
| 182 DAYS TBILL RED 17-12-2026 | 11.23% |
Largest holdings only in Nippon India Gilt Fund
| Security | % of fund |
|---|---|
| 364 Days Tbill | 6.66% |
| 7.25% Government of India | 6.34% |
| 6.9% Government of India | 5.43% |
| 6.79% Government of India | 5.40% |
| 6.36% Government of India | 3.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Gilt | Nippon India Gilt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 96.3% | 88.7% |
| Cash and others | 3.7% | 11.3% |
LIC MF Gilt vs Nippon India Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Gilt Fund | Nippon India Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.70% | 0.52% |
| Base expense ratio (Direct) | 0.59% | 0.43% |
| Total expense ratio (Regular) | 1.10% | 1.21% |
| Base expense ratio (Regular) | 0.97% | 1.02% |
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 Gilt with
LIC MF Gilt Fund vs Nippon India Gilt Fund: Frequently Asked Questions
What is the difference between LIC MF Gilt Fund and Nippon India Gilt Fund?
Both are Gilt funds, run by LIC Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 20.3%. LIC MF Gilt Fund charges 0.70% a year and Nippon India Gilt Fund 0.52%.
Which has given higher returns, LIC MF Gilt Fund or Nippon India Gilt Fund?
Over 1 year: LIC MF Gilt Fund +2.20%, Nippon India Gilt Fund +2.49%. Over 3 years: LIC MF Gilt Fund +5.41% a year, Nippon India Gilt Fund +6.20% a year. Over 5 years: LIC MF Gilt Fund +4.86% a year, Nippon India Gilt Fund +5.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Gilt Fund or Nippon India Gilt Fund?
Nippon India Gilt Fund charges less: 0.52% a year against 0.70%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Gilt Fund and Nippon India Gilt Fund overlap?
20.3%. They hold 3 of the same securities, the largest shared ones being 7.34% Government of India, 364 DAYS TBILL RED 10-12-2026, 7.3% Government of India. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Gilt Fund or Nippon India Gilt Fund?
On SEBI's riskometer, LIC MF Gilt Fund is rated Low to Moderate and Nippon India Gilt Fund Moderate. Over 3 years, the standard deviation of daily returns was 3.47% and 2.98% a year.
Which is better for SIP, LIC MF Gilt Fund or Nippon India Gilt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,86,636 in LIC MF Gilt Fund (XIRR 4.6% a year) and ₹6,99,070 in Nippon India Gilt Fund (XIRR 5.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Gilt Fund and Nippon India Gilt Fund?
Yes. 20.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF Gilt Fund and Nippon India Gilt Fund?
LIC MF Gilt Fund: Pratik Harish Shroff, Rahul Singh. Nippon India Gilt Fund: Pranay Sinha.
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.