LIC MF Infrastructure Fund vs LIC MF Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Infrastructure Fund is a Thematic fund and LIC MF Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, LIC MF Infrastructure Fund (Direct) returned 21.0% a year and LIC MF Value Fund (Direct) returned 16.1% a year. LIC MF Infrastructure Fund charges 1.30% a year and LIC MF Value Fund 1.78% (Direct plans). Their portfolios overlap 51.3%: they hold 30 of the same securities.
LIC MF Infrastructure Fund
Thematic
- 3 year return
- 21.0%
- Expense ratio
- 1.30%
- NAV
- ₹58.97
Which is better, LIC MF Infrastructure 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 Infrastructure returned more over 3 years: 21.0% a year against 16.1%.
- LIC MF Value returned more over 1 year: 10.9% against 0.5%.
- LIC MF Infrastructure costs less: 1.30% a year against 1.78% (Direct plans).
- LIC MF Value swung less over 3 years: a standard deviation of 17.2% a year against 19.7%.
- LIC MF Value fell less in its worst fall since 31-07-2023: −25.2% against −26.7%.
- LIC MF Infrastructure is the larger fund: ₹1,153 Cr against ₹336 Cr.
- Their portfolios overlap 51.3%: 30 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 Infrastructure Fund | LIC MF Value Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Thematic | Value and Contra |
| AUM | ₹1,153 Cr (30-09-2026) | ₹336 Cr (30-09-2026) |
| NAV | ₹58.97 (Direct) | ₹29.46 (Direct) |
| Expense ratio (Direct) | 1.30% | 1.78% |
| Expense ratio (Regular) | 2.65% | 3.22% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Infrastructure TRI | Nifty 500 TRI |
| Launch date | 24-03-2008 | 20-08-2018 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Mahesh Bendre | Mahesh Bendre |
| Exit load | Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 90 days. | 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 Infrastructure 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 Infrastructure Fund (Direct) | −5.46% | −5.47% | −1.50% | +0.53% | +21.03% | +19.78% | +16.87% |
| LIC MF Value Fund (Direct) | −5.40% | −3.78% | +5.94% | +10.90% | +16.07% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | -- | -- |
Category average: the average of the 235 Thematic funds and the 30 Value and Contra funds, same plan type.
LIC MF Infrastructure vs LIC MF Value: Year-wise Returns
| Year | InfrastructureLIC MF Infrastructure | ValueLIC MF Value |
|---|---|---|
| 2026to date | +3.94% | +11.43% |
| 2025 | −2.16% | −5.73% |
| 2024 | +49.49% | +30.38% |
| 2023 | +45.90% | -- |
| 2022 | +9.21% | -- |
| 2021 | +48.51% | -- |
LIC MF Infrastructure vs LIC MF Value: Rolling Returns
Every holding period of both funds, against Nifty Infrastructure TRI, the benchmark of LIC MF Infrastructure 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 Infrastructure Fund (Direct)
LIC MF Value Fund (Direct)
Nifty Infrastructure 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 Infrastructure | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 65.6 | 34.4 | 24.0% | 24.0% | 20.2% | 27.4% | 100% |
| 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 Infrastructure TRI | 0.0 | 0.0 | 0.0 | 55.7 | 44.3 | 0.0 | 0.0 | 14.9% | 14.5% | 11.4% | 17.8% | -- |
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. The benchmark is Nifty Infrastructure 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 Infrastructure 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 03-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF InfrastructureLIC MF Infrastructure Fund (Direct) | ₹4,00,000 | ₹4,80,280 | ₹80,280 | 11.0% |
| LIC MF ValueLIC MF Value Fund (Direct) | ₹4,00,000 | ₹4,79,140 | ₹79,140 | 10.9% |
LIC MF InfrastructureLIC MF Infrastructure 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 Infrastructure 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 Infrastructure Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.53% | +10.90% |
| Standard deviation | 16.76% | 16.55% |
| Sharpe ratio | -0.28 | 0.34 |
| Sortino ratio | -0.39 | 0.49 |
| Maximum drawdown | −11.7% (31-03-2026) | −10.9% (31-03-2026) |
| Beta | 0.95 | 1.04 |
| Alpha | +7.52% | +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 Infrastructure Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.03% | +16.07% |
| Standard deviation | 19.71% | 17.18% |
| Sharpe ratio | 0.76 | 0.58 |
| Sortino ratio | 1.02 | 0.79 |
| Maximum drawdown | −26.7% (28-02-2025) | −25.2% (03-03-2025) |
| Beta | 0.96 | 1.09 |
| Alpha | +7.47% | +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 Infrastructure Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.03% | +14.94% |
| Standard deviation | 18.05% | 16.73% |
| Sharpe ratio | 0.50 | 0.53 |
| Sortino ratio | 0.68 | 0.71 |
| Maximum drawdown | −39.6% (23-03-2020) | −25.2% (03-03-2025) |
| Beta | 0.81 | 1.08 |
| Alpha | +5.31% | +5.67% |
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 Infrastructure Fund (Direct)
LIC MF Value Fund (Direct)
Nifty Infrastructure TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Infrastructure Fund (Direct) | −26.7% | 16-12-2024 | 28-02-2025 | 04-05-2026 | 14 months | −8.8% |
| LIC MF Value Fund (Direct) | −25.2% | 17-12-2024 | 03-03-2025 | 15-06-2026 | 15 months | −7.6% |
| Nifty Infrastructure TRI | −20.6% | 27-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −9.3% |
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 Infrastructure Fund (Direct)
LIC MF Value Fund (Direct)
Nifty Infrastructure 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 Infrastructure Fund (Direct)
LIC MF Value Fund (Direct)
Nifty Infrastructure TRI
Against Nifty Infrastructure TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Infrastructure Fund (Direct) | 113% | 74% | 14.27% |
| LIC MF Value Fund (Direct) | 91% | 71% | 11.68% |
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 Infrastructure vs LIC MF Value: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Infrastructure Fund, September 2026; LIC MF Value Fund, September 2026
Holdings in common
- Overlap
- 51.3%
- Held by both
- 30
- Only in LIC MF Infrastructure
- 22
- Only in LIC MF Value
- 20
| Security | % of LIC MF Infrastructure | % of LIC MF Value |
|---|---|---|
| INDO-MIM Ltd. | 5.54% | 7.68% |
| Tata Motors Passenger Vehicles Ltd. | 4.73% | 5.03% |
| Tenneco Clean Air India Ltd. | 2.78% | 2.95% |
| Garware Hi-Tech Films Ltd. | 3.19% | 2.56% |
| Sansera Engineering Ltd. | 2.44% | 2.84% |
| Tata Motors Ltd. | 3.30% | 2.19% |
| Nephrocare Health Services Ltd. | 2.01% | 3.14% |
| Bharat Dynamics Ltd. | 2.05% | 1.95% |
| KSH International Ltd. | 2.47% | 1.82% |
| NTPC Ltd. | 2.23% | 1.76% |
| HDFC Bank Ltd. | 1.75% | 3.51% |
| ICICI Bank Ltd. | 2.08% | 1.67% |
| InterGlobe Aviation Ltd. | 2.05% | 1.67% |
| Hitachi Energy India Ltd. | 1.83% | 1.67% |
| Bharat Forge Ltd. | 2.33% | 1.62% |
| Tata Power Company Ltd. | 2.56% | 1.59% |
| Schneider Electric Infrastructure Ltd. | 1.76% | 1.55% |
| Schaeffler India Ltd. | 1.49% | 3.32% |
| Delhivery Ltd. | 1.43% | 1.33% |
| Gujarat Energy Ltd. | 1.30% | 1.68% |
| State Bank of India | 1.21% | 1.87% |
| Axis Bank Ltd. | 1.16% | 1.25% |
| Kirloskar Brothers Ltd. | 0.95% | 3.60% |
| Kirloskar Ferrous Industries Ltd. | 1.57% | 0.91% |
| Foseco India Ltd. | 0.88% | 2.59% |
| Kotak Mahindra Bank Ltd. | 1.33% | 0.84% |
| Mahindra Lifespace Developers Ltd. | 1.95% | 0.81% |
| SKF India (Industrial) Ltd. | 0.52% | 1.10% |
| Bharat Bijlee Ltd. | 1.61% | 0.45% |
| GSPL Transmission Ltd. | 0.11% | 0.10% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.3% means 51.3% 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 Infrastructure Fund
| Security | % of fund |
|---|---|
| The Phoenix Mills Ltd. | 3.31% |
| Larsen & Toubro Ltd. | 2.99% |
| JSW Infrastructure Ltd. | 2.06% |
| Tata Steel Ltd. | 1.95% |
| Aster DM Quality Care Ltd. | 1.90% |
Largest holdings only in LIC MF Value Fund
| Security | % of fund |
|---|---|
| NSE India Ltd. | 3.36% |
| Hyundai Motor India Ltd. | 3.12% |
| SML Mahindra Ltd. | 3.06% |
| Saregama India Ltd. | 2.96% |
| Arvind Ltd. | 2.74% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Infrastructure | LIC MF Value |
|---|---|---|
| Equity | 92.6% | 97.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 7.4% | 3.0% |
Market cap of stocks
| Market cap | LIC MF Infrastructure | LIC MF Value |
|---|---|---|
| Large Cap | 39.3% | 32.8% |
| Mid Cap | 16.7% | 10.6% |
| Small Cap | 30.9% | 42.0% |
| Not on AMFI's list | 5.7% | 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 Infrastructure | LIC MF Value |
|---|---|---|
| Auto Components | 10.9% | 13.4% |
| Banks | 7.5% | 10.3% |
| Industrial Products | 9.4% | 9.1% |
| Automobiles | 8.0% | 8.2% |
| Industrial Manufacturing | 6.6% | 8.1% |
| Electrical Equipment | 6.7% | 3.7% |
| Agricultural, Commercial & Construction Vehicles | 3.3% | 5.3% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Infrastructure vs LIC MF Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Infrastructure Fund | LIC MF Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.30% | 1.78% |
| Base expense ratio (Direct) | 0.70% | 0.86% |
| Total expense ratio (Regular) | 2.65% | 3.22% |
| Base expense ratio (Regular) | 1.90% | 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 Infrastructure with
LIC MF Infrastructure Fund vs LIC MF Value Fund: Frequently Asked Questions
What is the difference between LIC MF Infrastructure Fund and LIC MF Value Fund?
LIC MF Infrastructure Fund is a Thematic fund, LIC MF Value Fund is a Value and Contra fund, run by LIC Mutual Fund. Their portfolios overlap 51.3%. LIC MF Infrastructure Fund charges 1.30% a year and LIC MF Value Fund 1.78%.
Which has given higher returns, LIC MF Infrastructure Fund or LIC MF Value Fund?
Over 1 year: LIC MF Infrastructure Fund +0.53%, LIC MF Value Fund +10.90%. Over 3 years: LIC MF Infrastructure Fund +21.03% 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 Infrastructure Fund or LIC MF Value Fund?
LIC MF Infrastructure Fund charges less: 1.30% a year against 1.78%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Infrastructure Fund and LIC MF Value Fund overlap?
51.3%. They hold 30 of the same securities, the largest shared ones being INDOMIM, TMPV, TENNIND. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Infrastructure Fund or LIC MF Value Fund?
On SEBI's riskometer, LIC MF Infrastructure Fund is rated Very High and LIC MF Value Fund Very High. Over 3 years, the standard deviation of daily returns was 19.71% and 17.18% a year.
Which is better for SIP, LIC MF Infrastructure 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 ₹4,24,196 in LIC MF Infrastructure Fund (XIRR 8.9% 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 Infrastructure Fund and LIC MF Value Fund?
Yes. 51.3% 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 Infrastructure Fund and LIC MF Value Fund?
LIC MF Infrastructure 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.