LIC MF Nifty 100 ETF vs Union Value Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
LIC MF Nifty 100 ETF is an ETF fund and Union Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, LIC MF Nifty 100 ETF returned 8.8% a year and Union Value Fund (Direct) returned 10.9% a year. LIC MF Nifty 100 ETF charges 0.30% a year and Union Value Fund 1.51%. Their portfolios overlap 44.1%: they hold 33 of the same securities.
Which is better, LIC MF Nifty 100 ETF or Union Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Value returned more over 5 years: 10.8% a year against 6.9%.
- Union Value returned more over 3 years: 10.9% a year against 8.8%.
- LIC MF Nifty 100 ETF costs less: 0.30% a year against 1.51%.
- LIC MF Nifty 100 ETF swung less over 3 years: a standard deviation of 13.7% a year against 14.7%.
- Union Value fell less in its worst fall since 12-12-2018: −37.7% against −38.0%.
- LIC MF Nifty 100 ETF holds more in large companies: 97.6% of the fund in large caps against 55.5%.
- LIC MF Nifty 100 ETF is the larger fund: ₹698 Cr against ₹378 Cr.
- Their portfolios overlap 44.1%: 33 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 Nifty 100 ETF | Union Value Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Union Mutual Fund |
| Category | ETF | Value and Contra |
| AUM | ₹698 Cr (30-09-2026) | ₹378 Cr (30-09-2026) |
| NAV | ₹263.09 | ₹28.96 (Direct) |
| Expense ratio (Direct) | Not available | 1.51% |
| Expense ratio (Regular) | Not available | 2.56% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | BSE 500 TRI |
| Launch date | 17-03-2016 | 05-12-2018 |
| Minimum investment | For Subscription of units directly with Mutual Fund: All direct transactions in units of the Scheme by MMs/APs or other eligible investors with the AMC/the Fund shall be at intra-day NAV based on the actual execution price of the underlying portfolio. Any | ₹1,000 |
| Lock in | None | None |
| Fund managers | Nikhil Kapoor, Sasikant Aravamuthan | Vinod Malviya, Gaurav Chopra |
| Exit load | Nil | Exit load of 1%, if redeemed within 15 days. |
LIC MF Nifty 100 ETF vs Union 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 Nifty 100 ETF | +1.02% | −5.36% | −3.05% | −8.92% | +8.77% | +6.92% | +11.38% |
| Union Value Fund (Direct) | −2.10% | −6.46% | −3.53% | −6.91% | +10.89% | +10.75% | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
Category average: the average of the 30 Value and Contra funds, same plan type.
LIC MF Nifty 100 ETF vs Union Value: Year-wise Returns
| Year | LIC MF Nifty 100 ETFLIC MF Nifty 100 ETF | Union ValueUnion Value |
|---|---|---|
| 2026to date | −9.51% | −6.82% |
| 2025 | +9.95% | +7.95% |
| 2024 | +12.58% | +17.94% |
| 2023 | +20.76% | +34.56% |
| 2022 | +4.76% | +5.90% |
| 2021 | +25.98% | +33.20% |
LIC MF Nifty 100 ETF vs Union Value: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of LIC MF Nifty 100 ETF
Rolling returns
Every 3-year holding period, 1,205 of them, one for each trading day from 13-12-2021 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 Nifty 100 ETF
Union Value Fund (Direct)
Nifty 100 TRI
to
May 2022Mar 2020
to
Mar 2023Dec 2020
to
Dec 2023Oct 2021
to
Oct 2024Aug 2022
to
Aug 2025Jun 2023
to
Jun 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 Nifty 100 ETF | 0.0 | 0.0 | 5.6 | 41.9 | 42.2 | 8.0 | 2.4 | 15.4% | 15.2% | 6.8% | 31.0% | 0% |
| Union Value | 0.0 | 0.0 | 0.0 | 9.3 | 43.6 | 35.3 | 11.7 | 20.2% | 19.8% | 10.2% | 35.3% | 100% |
| Nifty 100 TRI | 0.0 | 0.0 | 4.0 | 38.8 | 45.8 | 8.4 | 3.0 | 15.8% | 15.6% | 7.1% | 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 12-12-2018. Past returns do not promise future returns.
LIC MF Nifty 100 ETF vs Union 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 03-12-2018 to 30-10-2026: 95 instalments, ₹9,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF Nifty 100 ETFLIC MF Nifty 100 ETF | ₹9,50,000 | ₹14,17,589 | ₹4,67,589 | 9.9% |
| Union ValueUnion Value Fund (Direct) | ₹9,50,000 | ₹16,66,329 | ₹7,16,329 | 13.9% |
LIC MF Nifty 100 ETFLIC MF Nifty 100 ETF
Union ValueUnion 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 Nifty 100 ETF vs Union Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Nifty 100 ETF | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.92% | −6.91% |
| Standard deviation | 14.02% | 14.74% |
| Sharpe ratio | -1.01 | -0.82 |
| Sortino ratio | -1.34 | -1.10 |
| Maximum drawdown | −14.9% (31-03-2026) | −12.8% (31-03-2026) |
| Beta | 1.00 | 1.01 |
| Alpha | −0.26% | +0.85% |
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 Nifty 100 ETF | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.77% | +10.89% |
| Standard deviation | 13.69% | 14.66% |
| Sharpe ratio | 0.20 | 0.33 |
| Sortino ratio | 0.28 | 0.44 |
| Maximum drawdown | −17.3% (28-02-2025) | −17.9% (03-03-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.31% | +0.98% |
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 Nifty 100 ETF | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.92% | +10.75% |
| Standard deviation | 13.98% | 14.39% |
| Sharpe ratio | 0.08 | 0.34 |
| Sortino ratio | 0.11 | 0.46 |
| Maximum drawdown | −17.3% (28-02-2025) | −17.9% (03-03-2025) |
| Beta | 1.00 | 0.98 |
| Alpha | −0.30% | +2.16% |
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 Nifty 100 ETF | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.32% | +14.30% |
| Standard deviation | 15.80% | 16.90% |
| Sharpe ratio | 0.43 | 0.54 |
| Sortino ratio | 0.59 | 0.72 |
| Maximum drawdown | −38.0% (23-03-2020) | −37.7% (23-03-2020) |
| Beta | 1.00 | 0.97 |
| Alpha | −0.32% | +1.44% |
From daily NAVs, 18-03-2016 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 Nifty 100 ETF
Union Value Fund (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 Nifty 100 ETF | −38.0% | 17-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −10.5% |
| Union Value Fund (Direct) | −37.7% | 17-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.5% |
| Nifty 100 TRI | −37.9% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.1% |
From daily values since 12-12-2018, 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 Nifty 100 ETF
Union Value Fund (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 Nifty 100 ETF
Union Value Fund (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 Nifty 100 ETF
Union Value Fund (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Nifty 100 ETF | 99% | 101% | 0.09% |
| Union Value Fund (Direct) | 104% | 92% | 5.07% |
From month-end values since 12-12-2018. 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 Nifty 100 ETF vs Union Value: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Nifty 100 ETF, September 2026; Union Value Fund, September 2026
Holdings in common
- Overlap
- 44.1%
- Held by both
- 33
- Only in LIC MF Nifty 100 ETF
- 67
- Only in Union Value
- 38
| Security | % of LIC MF Nifty 100 ETF | % of Union Value |
|---|---|---|
| ICICI Bank Ltd. | 7.28% | 6.44% |
| HDFC Bank Ltd. | 8.34% | 4.12% |
| Reliance Industries Ltd. | 6.09% | 3.75% |
| Bharti Airtel Ltd. | 4.10% | 2.98% |
| State Bank of India | 3.05% | 2.93% |
| Axis Bank Ltd. | 2.71% | 3.21% |
| Larsen & Toubro Ltd. | 3.38% | 2.16% |
| Maruti Suzuki India Ltd. | 1.20% | 2.00% |
| NTPC Ltd. | 1.17% | 2.21% |
| Sun Pharmaceutical Industries Ltd. | 1.48% | 1.13% |
| Shriram Finance Ltd. | 1.07% | 2.73% |
| Bharat Electronics Ltd. | 1.06% | 1.20% |
| Tata Consultancy Services Ltd. | 1.60% | 0.98% |
| Infosys Ltd. | 2.70% | 0.95% |
| Vedanta Aluminium Metal Ltd. | 1.10% | 0.92% |
| InterGlobe Aviation Ltd. | 0.89% | 0.92% |
| Adani Ports & Special Economic Zone Ltd. | 1.05% | 0.86% |
| Tata Steel Ltd. | 1.18% | 0.83% |
| Hindustan Unilever Ltd. | 1.28% | 0.80% |
| Tech Mahindra Ltd. | 0.75% | 2.19% |
| HCL Technologies Ltd. | 1.01% | 0.70% |
| Hindustan Aeronautics Ltd. | 0.69% | 0.99% |
| Tata Motors Ltd. | 0.69% | 1.12% |
| Adani Enterprises Ltd. | 0.66% | 0.88% |
| Cipla Ltd. | 0.59% | 0.77% |
| Samvardhana Motherson International Ltd. | 0.56% | 0.86% |
| Torrent Pharmaceuticals Ltd. | 0.56% | 1.40% |
| ITC Ltd. | 1.94% | 0.49% |
| HDFC Life Insurance Company Ltd. | 0.44% | 0.79% |
| Jindal Steel Ltd. | 0.34% | 1.92% |
| LTM Ltd. | 0.29% | 0.80% |
| Zydus Lifesciences Ltd. | 0.23% | 0.69% |
| Tata Capital Ltd. | 0.13% | 0.95% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 44.1% means 44.1% 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 Nifty 100 ETF
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Ltd. | 2.36% |
| Mahindra & Mahindra Ltd. | 2.02% |
| Bajaj Finance Ltd. | 2.02% |
| Eternal Ltd. | 1.78% |
| Titan Company Ltd. | 1.46% |
Largest holdings only in Union Value Fund
| Security | % of fund |
|---|---|
| Gabriel India Ltd. | 2.02% |
| Nippon Life India Asset Management Ltd. | 1.67% |
| The Phoenix Mills Ltd. | 1.66% |
| Ajanta Pharma Ltd. | 1.64% |
| Ujjivan Small Finance Bank Ltd. | 1.64% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Nifty 100 ETF | Union Value |
|---|---|---|
| Equity | 99.7% | 96.3% |
| Debt | 0.0% | 0.1% |
| Cash and others | 0.3% | 3.6% |
Market cap of stocks
| Market cap | LIC MF Nifty 100 ETF | Union Value |
|---|---|---|
| Large Cap | 97.6% | 55.5% |
| Mid Cap | 2.0% | 14.6% |
| Small Cap | 0.0% | 25.4% |
| Not on AMFI's list | 0.0% | 0.8% |
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 Nifty 100 ETF | Union Value |
|---|---|---|
| Banks | 24.9% | 21.1% |
| Petroleum Products | 7.0% | 4.5% |
| IT - Software | 6.7% | 6.9% |
| Automobiles | 6.3% | 2.5% |
| Finance | 6.2% | 3.7% |
| Pharmaceuticals & Biotechnology | 4.4% | 5.6% |
| Construction | 3.4% | 5.6% |
| Auto Components | 0.9% | 4.1% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Nifty 100 ETF vs Union Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Nifty 100 ETF | Union Value Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.51% |
| Base expense ratio (Direct) | 0.00% | 1.08% |
| Total expense ratio (Regular) | Not available | 2.56% |
| Base expense ratio (Regular) | 0.24% | 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
LIC MF Nifty 100 ETF vs Union Value Fund: Frequently Asked Questions
What is the difference between LIC MF Nifty 100 ETF and Union Value Fund?
LIC MF Nifty 100 ETF is an ETF fund, Union Value Fund is a Value and Contra fund, run by LIC Mutual Fund and Union Mutual Fund. Their portfolios overlap 44.1%. LIC MF Nifty 100 ETF charges 0.30% a year and Union Value Fund 1.51%.
Which has given higher returns, LIC MF Nifty 100 ETF or Union Value Fund?
Over 1 year: LIC MF Nifty 100 ETF −8.92%, Union Value Fund −6.91%. Over 3 years: LIC MF Nifty 100 ETF +8.77% a year, Union Value Fund +10.89% a year. Over 5 years: LIC MF Nifty 100 ETF +6.92% a year, Union Value Fund +10.75% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Nifty 100 ETF or Union Value Fund?
LIC MF Nifty 100 ETF charges less: 0.30% a year against 1.51%. These are the total expense ratios reported to AMFI.
How much do LIC MF Nifty 100 ETF and Union Value Fund overlap?
44.1%. They hold 33 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Nifty 100 ETF or Union Value Fund?
On SEBI's riskometer, LIC MF Nifty 100 ETF is rated Very High and Union Value Fund Very High. Over 3 years, the standard deviation of daily returns was 13.69% and 14.66% a year.
Which is better for SIP, LIC MF Nifty 100 ETF or Union Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,05,460 in LIC MF Nifty 100 ETF (XIRR 5.7% a year) and ₹7,73,448 in Union Value Fund (XIRR 9.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Nifty 100 ETF and Union Value Fund?
Yes. 44.1% 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 Nifty 100 ETF and Union Value Fund?
LIC MF Nifty 100 ETF: Nikhil Kapoor, Sasikant Aravamuthan. Union Value Fund: Vinod Malviya, Gaurav Chopra.
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.