LIC MF Large & Mid Cap Fund vs LIC MF Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Large & Mid Cap Fund is a Large & Mid Cap fund and LIC MF Mid Cap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, LIC MF Large & Mid Cap Fund (Direct) returned 12.0% a year and LIC MF Mid Cap Fund (Direct) returned 13.7% a year. LIC MF Large & Mid Cap Fund charges 1.46% a year and LIC MF Mid Cap Fund 1.99% (Direct plans). Their portfolios overlap 37.3%: they hold 16 of the same securities.
LIC MF Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 12.0%
- Expense ratio
- 1.46%
- NAV
- ₹41.93
Which is better, LIC MF Large & Mid Cap or LIC MF Mid Cap? 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 Mid Cap returned more over 3 years: 13.7% a year against 12.0%.
- LIC MF Mid Cap returned more over 1 year: −3.9% against −7.9%.
- LIC MF Large & Mid Cap costs less: 1.46% a year against 1.99% (Direct plans).
- LIC MF Large & Mid Cap swung less over 3 years: a standard deviation of 15.7% a year against 16.8%.
- LIC MF Large & Mid Cap fell less in its worst fall since 31-07-2023: −18.7% against −21.5%.
- LIC MF Large & Mid Cap holds more in large companies: 36.5% of the fund in large caps against 2.7%.
- LIC MF Large & Mid Cap is the larger fund: ₹2,949 Cr against ₹369 Cr.
- Their portfolios overlap 37.3%: 16 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 & Mid Cap Fund | LIC MF Mid Cap Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Large & Mid Cap | Mid Cap |
| AUM | ₹2,949 Cr (30-09-2026) | ₹369 Cr (30-09-2026) |
| NAV | ₹41.93 (Direct) | ₹31.92 (Direct) |
| Expense ratio (Direct) | 1.46% | 1.99% |
| Expense ratio (Regular) | 2.68% | 3.08% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty Midcap 150 TRI |
| Launch date | 25-02-2015 | 25-01-2017 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Sudhanshu Asthana | Sudhanshu Asthana |
| Exit load | Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 3 months. | 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 Large & Mid Cap vs LIC MF Mid Cap: 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 & Mid Cap Fund (Direct) | −3.00% | −7.26% | −2.30% | −7.88% | +11.97% | +9.55% | +13.36% |
| LIC MF Mid Cap Fund (Direct) | −4.94% | −6.90% | −1.22% | −3.88% | +13.70% | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | -- | -- |
Category average: the average of the 36 Large & Mid Cap funds and the 34 Mid Cap funds, same plan type.
LIC MF Large & Mid Cap vs LIC MF Mid Cap: Year-wise Returns
| Year | Large & MidLIC MF Large & Mid Cap | MidLIC MF Mid Cap |
|---|---|---|
| 2026to date | −7.16% | −2.73% |
| 2025 | +1.55% | −0.15% |
| 2024 | +29.62% | +30.30% |
| 2023 | +28.25% | -- |
| 2022 | −0.84% | -- |
| 2021 | +35.49% | -- |
LIC MF Large & Mid Cap vs LIC MF Mid Cap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of LIC MF Large & Mid Cap 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 Large & Mid Cap Fund (Direct)
LIC MF Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 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 Large & Mid Cap | 0.0 | 0.0 | 0.0 | 62.3 | 37.7 | 0.0 | 0.0 | 14.1% | 14.0% | 10.9% | 16.6% | 98% |
| LIC MF Mid Cap | 0.0 | 0.0 | 0.0 | 27.9 | 72.1 | 0.0 | 0.0 | 16.5% | 16.5% | 12.8% | 19.3% | 100% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 86.9 | 13.1 | 0.0 | 0.0 | 12.7% | 12.2% | 10.1% | 15.6% | -- |
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 LargeMidcap 250 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 Large & Mid Cap vs LIC MF Mid Cap: 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 Large & Mid CapLIC MF Large & Mid Cap Fund (Direct) | ₹4,00,000 | ₹4,20,760 | ₹20,760 | 3.0% |
| LIC MF Mid CapLIC MF Mid Cap Fund (Direct) | ₹4,00,000 | ₹4,36,288 | ₹36,288 | 5.2% |
LIC MF Large & Mid CapLIC MF Large & Mid Cap Fund (Direct)
LIC MF Mid CapLIC MF Mid Cap 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 Large & Mid Cap vs LIC MF Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Large & Mid Cap Fund (Direct) | LIC MF Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.88% | −3.88% |
| Standard deviation | 15.97% | 16.80% |
| Sharpe ratio | -0.82 | -0.54 |
| Sortino ratio | -1.10 | -0.74 |
| Maximum drawdown | −13.8% (31-03-2026) | −15.4% (31-03-2026) |
| Beta | 1.03 | 0.98 |
| Alpha | −1.11% | +0.33% |
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 & Mid Cap Fund (Direct) | LIC MF Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.97% | +13.70% |
| Standard deviation | 15.73% | 16.76% |
| Sharpe ratio | 0.38 | 0.46 |
| Sortino ratio | 0.51 | 0.62 |
| Maximum drawdown | −18.7% (28-02-2025) | −21.5% (07-04-2025) |
| Beta | 1.02 | 0.95 |
| Alpha | +0.33% | +0.29% |
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 & Mid Cap Fund (Direct) | LIC MF Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.05% | +13.52% |
| Standard deviation | 15.57% | 16.38% |
| Sharpe ratio | 0.48 | 0.45 |
| Sortino ratio | 0.63 | 0.61 |
| Maximum drawdown | −33.9% (23-03-2020) | −21.5% (07-04-2025) |
| Beta | -- | 0.94 |
| Alpha | -- | +0.27% |
From daily NAVs, 26-02-2015 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 & Mid Cap Fund (Direct)
LIC MF Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Large & Mid Cap Fund (Direct) | −18.7% | 27-09-2024 | 28-02-2025 | 05-08-2026 | 17 months | −10.4% |
| LIC MF Mid Cap Fund (Direct) | −21.5% | 24-09-2024 | 07-04-2025 | 03-08-2026 | 16 months | −11.1% |
| NIFTY LargeMidcap 250 TRI | −18.8% | 26-09-2024 | 28-02-2025 | 17-11-2025 | 9 months | −8.6% |
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 Large & Mid Cap Fund (Direct)
LIC MF Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 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 & Mid Cap Fund (Direct)
LIC MF Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Large & Mid Cap Fund (Direct) | 107% | 108% | 4.91% |
| LIC MF Mid Cap Fund (Direct) | 121% | 117% | 6.66% |
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 Large & Mid Cap vs LIC MF Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Large & Mid Cap Fund, September 2026; LIC MF Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 37.3%
- Held by both
- 16
- Only in LIC MF Large & Mid Cap
- 22
- Only in LIC MF Mid Cap
- 23
| Security | % of LIC MF Large & Mid Cap | % of LIC MF Mid Cap |
|---|---|---|
| AU Small Finance Bank Ltd. | 4.16% | 3.98% |
| FSN E-Commerce Ventures Ltd. | 3.16% | 2.99% |
| Aditya Birla Capital Ltd. | 3.05% | 2.79% |
| Persistent Systems Ltd. | 3.99% | 2.78% |
| JSW Infrastructure Ltd. | 2.75% | 2.53% |
| Nippon Life India Asset Management Ltd. | 2.40% | 2.39% |
| UNO Minda Ltd. | 2.38% | 2.97% |
| Schneider Electric Infrastructure Ltd. | 2.39% | 2.18% |
| Aster DM Quality Care Ltd. | 2.06% | 2.84% |
| Motilal Oswal Financial Services Ltd. | 2.01% | 2.95% |
| Azad Engineering Ltd. | 2.00% | 2.81% |
| One 97 Communications Ltd. | 1.98% | 2.86% |
| Dixon Technologies (India) Ltd. | 2.00% | 1.92% |
| GE Vernova T&D India Limited | 1.83% | 2.03% |
| PB Fintech Ltd. | 1.86% | 1.80% |
| Schaeffler India Ltd. | 1.88% | 1.71% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.3% means 37.3% 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 Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Eicher Motors Ltd. | 3.83% |
| CG Power and Industrial Solutions Ltd. | 3.63% |
| InterGlobe Aviation Ltd. | 3.42% |
| Cartrade Tech Ltd. | 3.29% |
| Bajaj Finance Ltd. | 3.17% |
Largest holdings only in LIC MF Mid Cap Fund
| Security | % of fund |
|---|---|
| INDO-MIM Ltd. | 3.89% |
| Aurobindo Pharma Ltd. | 3.72% |
| Neuland Laboratories Ltd. | 2.99% |
| Info Edge (India) Ltd. | 2.92% |
| Coforge Ltd. | 2.80% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Large & Mid Cap | LIC MF Mid Cap |
|---|---|---|
| Equity | 97.7% | 94.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.3% | 5.5% |
Market cap of stocks
| Market cap | LIC MF Large & Mid Cap | LIC MF Mid Cap |
|---|---|---|
| Large Cap | 36.5% | 2.7% |
| Mid Cap | 42.4% | 78.2% |
| Small Cap | 18.7% | 9.7% |
| Not on AMFI's list | 0.0% | 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 & Mid Cap | LIC MF Mid Cap |
|---|---|---|
| Finance | 11.1% | 4.7% |
| Electrical Equipment | 9.8% | 7.0% |
| Capital Markets | 4.4% | 9.5% |
| Banks | 9.3% | 8.3% |
| Retailing | 8.7% | 8.5% |
| Pharmaceuticals & Biotechnology | 6.8% | 8.5% |
| IT - Software | 4.0% | 7.4% |
| Transport Services | 5.6% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Large & Mid Cap vs LIC MF Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Large & Mid Cap Fund | LIC MF Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.46% | 1.99% |
| Base expense ratio (Direct) | 0.57% | 1.15% |
| Total expense ratio (Regular) | 2.68% | 3.08% |
| Base expense ratio (Regular) | 1.69% | 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 & Mid Cap with
LIC MF Large & Mid Cap Fund vs LIC MF Mid Cap Fund: Frequently Asked Questions
What is the difference between LIC MF Large & Mid Cap Fund and LIC MF Mid Cap Fund?
LIC MF Large & Mid Cap Fund is a Large & Mid Cap fund, LIC MF Mid Cap Fund is a Mid Cap fund, run by LIC Mutual Fund. Their portfolios overlap 37.3%. LIC MF Large & Mid Cap Fund charges 1.46% a year and LIC MF Mid Cap Fund 1.99%.
Which has given higher returns, LIC MF Large & Mid Cap Fund or LIC MF Mid Cap Fund?
Over 1 year: LIC MF Large & Mid Cap Fund −7.88%, LIC MF Mid Cap Fund −3.88%. Over 3 years: LIC MF Large & Mid Cap Fund +11.97% a year, LIC MF Mid Cap Fund +13.70% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Large & Mid Cap Fund or LIC MF Mid Cap Fund?
LIC MF Large & Mid Cap Fund charges less: 1.46% a year against 1.99%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Large & Mid Cap Fund and LIC MF Mid Cap Fund overlap?
37.3%. They hold 16 of the same securities, the largest shared ones being AUBANK, NYKAA, ABCAPITAL. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Large & Mid Cap Fund or LIC MF Mid Cap Fund?
On SEBI's riskometer, LIC MF Large & Mid Cap Fund is rated Very High and LIC MF Mid Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.73% and 16.76% a year.
Which is better for SIP, LIC MF Large & Mid Cap Fund or LIC MF Mid Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,78,158 in LIC MF Large & Mid Cap Fund (XIRR 1.4% a year) and ₹3,91,511 in LIC MF Mid Cap Fund (XIRR 3.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Large & Mid Cap Fund and LIC MF Mid Cap Fund?
Yes. 37.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF Large & Mid Cap Fund and LIC MF Mid Cap Fund?
LIC MF Large & Mid Cap Fund: Sudhanshu Asthana. LIC MF Mid Cap Fund: Sudhanshu Asthana.
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.