LIC MF Money Market Fund vs Tata Money Market Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Money Market Fund and Tata Money Market Fund are both Money Market funds. In the 3 years to 30-10-2026, LIC MF Money Market Fund (Direct) returned 6.7% a year and Tata Money Market Fund (Direct) returned 7.4% a year. LIC MF Money Market Fund charges 0.16% a year and Tata Money Market Fund 0.18% (Direct plans). Their portfolios overlap 9.3%: they hold 9 of the same securities.
LIC MF Money Market Fund
Money Market
- 3 year return
- 6.7%
- Expense ratio
- 0.16%
- NAV
- ₹1,310.81
Tata Money Market Fund
Money Market
- 3 year return
- 7.4%
- Expense ratio
- 0.18%
- NAV
- ₹5,240.04
Which is better, LIC MF Money Market or Tata Money Market? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Tata Money Market returned more over 3 years: 7.4% a year against 6.7%.
- LIC MF Money Market returned more over 1 year: 6.5% against 6.5%.
- LIC MF Money Market costs less: 0.16% a year against 0.18% (Direct plans).
- LIC MF Money Market swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- LIC MF Money Market fell less in its worst fall since 03-08-2022: −0.1% against −0.1%.
- Tata Money Market is the larger fund: ₹31,690 Cr against ₹3,979 Cr.
- Their portfolios overlap 9.3%: 9 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 Money Market Fund | Tata Money Market Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Tata Mutual Fund |
| Category | Money Market | Money Market |
| AUM | ₹3,979 Cr (30-09-2026) | ₹31,690 Cr (30-09-2026) |
| NAV | ₹1,310.81 (Direct) | ₹5,240.04 (Direct) |
| Expense ratio (Direct) | 0.16% | 0.18% |
| Expense ratio (Regular) | 0.38% | 0.40% |
| Riskometer | Low to Moderate | Moderate |
| Benchmark | NIFTY Money Market Index A-I | CRISIL Money Market A-I Index |
| Launch date | 01-08-2022 | 30-08-1998 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Rahul Singh, Pratik Harish Shroff | Amit Somani, Harsh Dave |
| Exit load | Nil | NIL |
LIC MF Money Market vs Tata Money Market: 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 Money Market Fund (Direct) | +0.35% | +1.51% | +3.37% | +6.46% | +6.73% | -- | -- |
| Tata Money Market Fund (Direct) | +0.33% | +1.50% | +3.32% | +6.45% | +7.44% | +6.90% | +6.03% |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | +6.60% |
Category average: the average of the 27 Money Market funds, same plan type.
LIC MF Money Market vs Tata Money Market: Year-wise Returns
| Year | LIC MFLIC MF Money Market | TataTata Money Market |
|---|---|---|
| 2026to date | +5.38% | +5.37% |
| 2025 | +7.13% | +7.67% |
| 2024 | +6.53% | +8.00% |
| 2023 | +6.70% | +7.64% |
| 2022 | -- | +5.06% |
| 2021 | -- | +4.13% |
LIC MF Money Market vs Tata Money Market: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 299 of them, one for each trading day from 04-08-2025 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 Money Market Fund (Direct)
Tata Money Market Fund (Direct)
to
Sept 2025Nov 2022
to
Nov 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jul 2023
to
Jul 2026Sept 2023
to
Sept 2026
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 Money Market | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 6.8% | 6.6% | 6.9% |
| Tata Money Market | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.6% | 7.4% | 7.9% |
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 03-08-2022. Past returns do not promise future returns.
LIC MF Money Market vs Tata Money Market: 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 03-08-2022 to 30-10-2026: 51 instalments, ₹5,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF Money MarketLIC MF Money Market Fund (Direct) | ₹5,10,000 | ₹5,88,554 | ₹78,554 | 6.7% |
| Tata Money MarketTata Money Market Fund (Direct) | ₹5,10,000 | ₹5,95,786 | ₹85,786 | 7.3% |
LIC MF Money MarketLIC MF Money Market Fund (Direct)
Tata Money MarketTata Money Market 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 Money Market vs Tata Money Market: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Money Market Fund (Direct) | Tata Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.46% | +6.45% |
| Standard deviation | 0.48% | 0.50% |
| Sharpe ratio | 2.54 | 2.40 |
| Sortino ratio | 4.27 | 3.91 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.1% (22-05-2026) |
| 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 Money Market Fund (Direct) | Tata Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.73% | +7.44% |
| Standard deviation | 0.37% | 0.42% |
| Sharpe ratio | 1.89 | 3.36 |
| Sortino ratio | 3.44 | 6.53 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.1% (22-05-2026) |
| 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 Money Market Fund (Direct) | Tata Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.58% | +6.76% |
| Standard deviation | 0.36% | 1.72% |
| Sharpe ratio | 1.20 | 0.41 |
| Sortino ratio | 2.10 | 0.43 |
| Maximum drawdown | −0.1% (22-05-2026) | −6.6% (29-10-2018) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-08-2022 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 Money Market Fund (Direct)
Tata Money Market Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Money Market Fund (Direct) | −0.1% | 11-05-2026 | 22-05-2026 | 29-05-2026 | 7 days | 0.0% |
| Tata Money Market Fund (Direct) | −0.1% | 11-05-2026 | 22-05-2026 | 31-05-2026 | 9 days | 0.0% |
From daily values since 03-08-2022, 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 Money Market Fund (Direct)
Tata Money Market 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 Money Market Fund (Direct)
Tata Money Market Fund (Direct)
LIC MF Money Market vs Tata Money Market: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Money Market Fund, September 2026; Tata Money Market Fund, September 2026
Holdings in common
- Overlap
- 9.3%
- Held by both
- 9
- Only in LIC MF Money Market
- 46
- Only in Tata Money Market
- 76
| Security | % of LIC MF Money Market | % of Tata Money Market |
|---|---|---|
| REC Ltd. | 3.65% | 2.14% |
| Axis Bank Ltd. | 2.45% | 1.93% |
| National Bk for Agriculture & Rural Dev. | 2.44% | 1.53% |
| HDFC Bank Ltd. | 1.22% | 3.45% |
| 182 DAYS TBILL RED 17-12-2026 | 2.48% | 0.98% |
| Canara Bank | 2.69% | 0.54% |
| 182 DAYS TBILL RED 14-01-2027 | 2.47% | 0.48% |
| SBI CDMDF--A2 | 0.30% | 0.32% |
| Canara Bank | 3.69% | 0.15% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 9.3% means 9.3% 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 Money Market Fund
| Security | % of fund |
|---|---|
| ICICI Bank Ltd. | 4.31% |
| ICICI Securities Ltd. | 4.28% |
| 6.58% State Government of Gujarat | 3.78% |
| 182 DAYS TBILL RED 19-11-2026 | 3.74% |
| Indian Bank | 3.70% |
Largest holdings only in Tata Money Market Fund
| Security | % of fund |
|---|---|
| ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 03/09/2027 | 5.75% |
| ** - KOTAK MAHINDRA BANK - CD - 04/02/2027 | 3.70% |
| ** - YES BANK LTD - CD - 05/03/2027 | 3.60% |
| ** TREASURY BILL 182 DAYS (26/02/2027) | 3.39% |
| ** - NABARD - CD - 27/01/2027 | 3.32% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Money Market | Tata Money Market |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 105.6% | 100.7% |
| Cash and others | -5.6% | -0.7% |
LIC MF Money Market vs Tata Money Market: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Money Market Fund | Tata Money Market Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.16% | 0.18% |
| Base expense ratio (Direct) | 0.14% | 0.15% |
| Total expense ratio (Regular) | 0.38% | 0.40% |
| Base expense ratio (Regular) | 0.33% | 0.37% |
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 Money Market with
LIC MF Money Market Fund vs Tata Money Market Fund: Frequently Asked Questions
What is the difference between LIC MF Money Market Fund and Tata Money Market Fund?
Both are Money Market funds, run by LIC Mutual Fund and Tata Mutual Fund. Their portfolios overlap 9.3%. LIC MF Money Market Fund charges 0.16% a year and Tata Money Market Fund 0.18%.
Which has given higher returns, LIC MF Money Market Fund or Tata Money Market Fund?
Over 1 year: LIC MF Money Market Fund +6.46%, Tata Money Market Fund +6.45%. Over 3 years: LIC MF Money Market Fund +6.73% a year, Tata Money Market Fund +7.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Money Market Fund or Tata Money Market Fund?
LIC MF Money Market Fund charges less: 0.16% a year against 0.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Money Market Fund and Tata Money Market Fund overlap?
9.3%. They hold 9 of the same securities, the largest shared ones being REC Ltd., Axis Bank Ltd., National Bk for Agriculture & Rural Dev.. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Money Market Fund or Tata Money Market Fund?
On SEBI's riskometer, LIC MF Money Market Fund is rated Low to Moderate and Tata Money Market Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.37% and 0.42% a year.
Which is better for SIP, LIC MF Money Market Fund or Tata Money Market Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,10,471 in LIC MF Money Market Fund (XIRR 6.7% a year) and ₹4,13,057 in Tata Money Market Fund (XIRR 7.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Money Market Fund and Tata Money Market Fund?
Yes. 9.3% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages LIC MF Money Market Fund and Tata Money Market Fund?
LIC MF Money Market Fund: Rahul Singh, Pratik Harish Shroff. Tata Money Market Fund: Amit Somani, Harsh Dave.
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.