LIC MF Large Cap Fund vs LIC MF Unit Linked Insurance Scheme (ULIS)
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Large Cap Fund is a Large Cap fund and LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund. In the 3 years to 30-10-2026, LIC MF Large Cap Fund (Direct) returned 8.0% a year and LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) returned 7.1% a year. LIC MF Large Cap Fund charges 1.38% a year and LIC MF Unit Linked Insurance Scheme (ULIS) 1.80% (Direct plans). Their portfolios overlap 24.2%: they hold 14 of the same securities.
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 Large Cap 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 Unit Linked Insurance Scheme (ULIS) returned more over 5 years: 6.2% a year against 5.2%.
- LIC MF Large Cap returned more over 3 years: 8.0% a year against 7.1%.
- LIC MF Large Cap costs less: 1.38% a year against 1.80% (Direct plans).
- LIC MF Unit Linked Insurance Scheme (ULIS) swung less over 3 years: a standard deviation of 10.5% a year against 13.8%.
- LIC MF Unit Linked Insurance Scheme (ULIS) fell less in its worst fall since 16-06-2015: −31.0% against −33.1%.
- LIC MF Large Cap holds more in large companies: 82.4% of the fund in large caps against 33.0%.
- LIC MF Large Cap is the larger fund: ₹1,302 Cr against ₹424 Cr.
- Their portfolios overlap 24.2%: 14 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 Large Cap Fund | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Large Cap | ELSS |
| AUM | ₹1,302 Cr (30-09-2026) | ₹424 Cr (30-09-2026) |
| NAV | ₹58.67 (Direct) | ₹39.28 (Direct) |
| Expense ratio (Direct) | 1.38% | 1.80% |
| Expense ratio (Regular) | 2.49% | 2.79% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | CRISIL Hybrid 35+65 - Aggressive Index |
| Launch date | 01-09-1994 | 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 | Sumit Bhatnagar | Siddharth Panjwani, Pratik Harish Shroff |
| Exit load | Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 3 months. | Nil (Lock-in Period:- Repurchase after lock-in period of 3 years from the date of Investment.) |
LIC MF Large Cap 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 Large Cap Fund (Direct) | −0.72% | −5.25% | −1.83% | −10.55% | +7.96% | +5.19% | +10.17% |
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | −2.20% | −4.03% | +0.42% | −4.81% | +7.06% | +6.23% | +9.91% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
Category average: the average of the 35 Large Cap funds and the 50 ELSS funds, same plan type.
LIC MF Large Cap vs LIC MF Unit Linked Insurance Scheme (ULIS): Year-wise Returns
| Year | Large CapLIC MF Large Cap | Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| 2026to date | −10.42% | −3.48% |
| 2025 | +7.16% | +3.67% |
| 2024 | +15.59% | +12.96% |
| 2023 | +18.06% | +17.69% |
| 2022 | −0.42% | +1.20% |
| 2021 | +25.67% | +26.69% |
LIC MF Large Cap vs LIC MF Unit Linked Insurance Scheme (ULIS): Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of LIC MF Large Cap Fund
Rolling returns
Every 3-year holding period, 2,060 of them, one for each trading day from 18-06-2018 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 Large Cap Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
Nifty 100 TRI
to
Feb 2019Jul 2017
to
Jul 2020Dec 2018
to
Dec 2021May 2020
to
May 2023Oct 2021
to
Oct 2024Feb 2023
to
Feb 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 Large Cap | 0.1 | 6.4 | 19.5 | 51.1 | 17.2 | 5.7 | 0.0 | 12.6% | 12.8% | −1.3% | 24.6% | 20% |
| LIC MF Unit Linked Insurance Scheme (ULIS) | 0.4 | 7.5 | 24.6 | 49.2 | 15.7 | 2.6 | 0.0 | 11.5% | 11.4% | −1.3% | 23.2% | 3% |
| Nifty 100 TRI | 1.2 | 4.9 | 9.2 | 42.7 | 34.1 | 6.2 | 1.7 | 13.9% | 14.3% | −5.0% | 31.4% | -- |
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 100 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 16-06-2015. Past returns do not promise future returns.
LIC MF Large Cap 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 01-06-2015 to 30-10-2026: 137 instalments, ₹13,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF Large CapLIC MF Large Cap Fund (Direct) | ₹13,70,000 | ₹24,27,045 | ₹10,57,045 | 9.6% |
| LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | ₹13,70,000 | ₹23,89,476 | ₹10,19,476 | 9.3% |
LIC MF Large CapLIC MF Large Cap 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 Large Cap 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 Large Cap Fund (Direct) | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) |
|---|---|---|
| Return (CAGR) | −10.55% | −4.81% |
| Standard deviation | 14.33% | 11.55% |
| Sharpe ratio | -1.10 | -0.87 |
| Sortino ratio | -1.46 | -1.17 |
| Maximum drawdown | −16.1% (31-03-2026) | −12.1% (30-03-2026) |
| Beta | 1.01 | -- |
| Alpha | −1.71% | -- |
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 Large Cap Fund (Direct) | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) |
|---|---|---|
| Return (CAGR) | +7.96% | +7.06% |
| Standard deviation | 13.81% | 10.48% |
| Sharpe ratio | 0.14 | 0.10 |
| Sortino ratio | 0.19 | 0.14 |
| Maximum drawdown | −18.2% (28-02-2025) | −13.9% (30-03-2026) |
| Beta | 0.99 | -- |
| Alpha | −1.09% | -- |
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 Large Cap Fund (Direct) | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) |
|---|---|---|
| Return (CAGR) | +5.19% | +6.23% |
| Standard deviation | 13.88% | 10.72% |
| Sharpe ratio | -0.04 | 0.04 |
| Sortino ratio | -0.06 | 0.05 |
| Maximum drawdown | −18.9% (17-06-2022) | −14.8% (17-06-2022) |
| Beta | 0.97 | -- |
| Alpha | −1.99% | -- |
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 Large Cap Fund (Direct) | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) |
|---|---|---|
| Return (CAGR) | +11.22% | +9.29% |
| Standard deviation | 15.08% | 12.29% |
| Sharpe ratio | 0.34 | 0.30 |
| Sortino ratio | 0.47 | 0.40 |
| Maximum drawdown | −33.1% (23-03-2020) | −31.0% (23-03-2020) |
| Beta | 0.92 | -- |
| Alpha | −0.29% | -- |
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 Large Cap Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Large Cap Fund (Direct) | −33.1% | 19-02-2020 | 23-03-2020 | 17-11-2020 | 8 months | −11.9% |
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | −31.0% | 12-02-2020 | 23-03-2020 | 03-12-2020 | 8 months | −6.8% |
| Nifty 100 TRI | −37.9% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.1% |
From daily values since 16-06-2015, 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 Large Cap Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
Nifty 100 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 Large Cap Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
Nifty 100 TRI
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 Large Cap Fund (Direct)
LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Large Cap Fund (Direct) | 93% | 98% | 3.97% |
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | 78% | 75% | 5.80% |
From month-end values since 16-06-2015. 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 Large Cap vs LIC MF Unit Linked Insurance Scheme (ULIS): Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Large Cap Fund, September 2026; LIC MF Unit Linked Insurance Scheme (ULIS), September 2026
Holdings in common
- Overlap
- 24.2%
- Held by both
- 14
- Only in LIC MF Large Cap
- 29
- Only in LIC MF Unit Linked Insurance Scheme (ULIS)
- 34
| Security | % of LIC MF Large Cap | % of LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Bharti Airtel Ltd. | 4.44% | 3.31% |
| Eternal Ltd. | 3.59% | 2.56% |
| Divi's Laboratories Ltd. | 2.54% | 4.00% |
| Titan Company Ltd. | 2.33% | 3.13% |
| INDO-MIM Ltd. | 2.04% | 1.93% |
| NSE India Ltd. | 2.23% | 1.92% |
| Bharat Electronics Ltd. | 1.62% | 1.83% |
| Bajaj Finance Ltd. | 2.55% | 1.36% |
| Bajaj Auto Ltd. | 1.29% | 3.97% |
| ICICI Bank Ltd. | 9.39% | 1.25% |
| Aster DM Quality Care Ltd. | 1.15% | 1.81% |
| Ujjivan Small Finance Bank Ltd. | 1.08% | 1.95% |
| Avenue Supermarts Ltd. | 1.01% | 2.04% |
| Godfrey Phillips India Ltd. | 1.04% | 0.87% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 24.2% means 24.2% 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 Large Cap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 6.22% |
| Larsen & Toubro Ltd. | 5.41% |
| Axis Bank Ltd. | 4.10% |
| State Bank of India | 3.88% |
| SBI Life Insurance Company Ltd. | 2.61% |
Largest holdings only in LIC MF Unit Linked Insurance Scheme (ULIS)
| Security | % of fund |
|---|---|
| Sona BLW Precision Forgings Ltd. | 3.91% |
| Solar Industries India Ltd. | 3.88% |
| Torrent Pharmaceuticals Ltd. | 3.62% |
| 7.63% State Government of Maharashtra | 3.53% |
| FSN E-Commerce Ventures Ltd. | 2.79% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Large Cap | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Equity | 97.5% | 76.3% |
| Debt | 0.0% | 14.1% |
| Cash and others | 2.5% | 9.6% |
Market cap of stocks
| Market cap | LIC MF Large Cap | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Large Cap | 82.4% | 33.0% |
| Mid Cap | 9.2% | 19.6% |
| Small Cap | 1.7% | 19.9% |
| Not on AMFI's list | 4.3% | 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 Large Cap | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Banks | 24.7% | 4.5% |
| Pharmaceuticals & Biotechnology | 4.4% | 11.8% |
| Retailing | 7.0% | 8.8% |
| Automobiles | 8.2% | 4.0% |
| Auto Components | 0.7% | 6.8% |
| Finance | 6.6% | 3.2% |
| Chemicals & Petrochemicals | 1.6% | 6.5% |
| Construction | 5.4% | 1.2% |
| Electrical Equipment | 2.2% | 5.4% |
| Telecom - Services | 4.4% | 3.3% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Large Cap 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 Large Cap Fund | LIC MF Unit Linked Insurance Scheme (ULIS) |
|---|---|---|
| Total expense ratio (Direct) | 1.38% | 1.80% |
| Base expense ratio (Direct) | 0.88% | 1.19% |
| Total expense ratio (Regular) | 2.49% | 2.79% |
| Base expense ratio (Regular) | 1.86% | 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 Large Cap with
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LIC MF Large Cap Fund vs LIC MF Unit Linked Insurance Scheme (ULIS): Frequently Asked Questions
What is the difference between LIC MF Large Cap Fund and LIC MF Unit Linked Insurance Scheme (ULIS)?
LIC MF Large Cap Fund is a Large Cap fund, LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund, run by LIC Mutual Fund. Their portfolios overlap 24.2%. LIC MF Large Cap Fund charges 1.38% a year and LIC MF Unit Linked Insurance Scheme (ULIS) 1.80%.
Which has given higher returns, LIC MF Large Cap Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
Over 1 year: LIC MF Large Cap Fund −10.55%, LIC MF Unit Linked Insurance Scheme (ULIS) −4.81%. Over 3 years: LIC MF Large Cap Fund +7.96% a year, LIC MF Unit Linked Insurance Scheme (ULIS) +7.06% a year. Over 5 years: LIC MF Large Cap Fund +5.19% a year, LIC MF Unit Linked Insurance Scheme (ULIS) +6.23% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Large Cap Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
LIC MF Large Cap Fund charges less: 1.38% a year against 1.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Large Cap Fund and LIC MF Unit Linked Insurance Scheme (ULIS) overlap?
24.2%. They hold 14 of the same securities, the largest shared ones being BHARTIARTL, ETERNAL, DIVISLAB. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Large Cap Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
On SEBI's riskometer, LIC MF Large Cap Fund is rated Very High and LIC MF Unit Linked Insurance Scheme (ULIS) Very High. Over 3 years, the standard deviation of daily returns was 13.81% and 10.48% a year.
Which is better for SIP, LIC MF Large Cap Fund or LIC MF Unit Linked Insurance Scheme (ULIS)?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,84,446 in LIC MF Large Cap Fund (XIRR 4.5% a year) and ₹6,99,999 in LIC MF Unit Linked Insurance Scheme (ULIS) (XIRR 5.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Large Cap Fund and LIC MF Unit Linked Insurance Scheme (ULIS)?
Yes. 24.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF Large Cap Fund and LIC MF Unit Linked Insurance Scheme (ULIS)?
LIC MF Large Cap Fund: Sumit Bhatnagar. 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.