LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Focused Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund and Union Focused Fund is a Focused fund. In the 3 years to 30-10-2026, LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) returned 7.1% a year and Union Focused Fund (Direct) returned 11.5% a year. LIC MF Unit Linked Insurance Scheme (ULIS) charges 1.80% a year and Union Focused Fund 1.55% (Direct plans). Their portfolios overlap 23.2%: they hold 10 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 Unit Linked Insurance Scheme (ULIS) or Union Focused? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Focused returned more over 5 years: 8.8% a year against 6.2%.
- Union Focused returned more over 3 years: 11.5% a year against 7.1%.
- Union Focused costs less: 1.55% 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 15.0%.
- LIC MF Unit Linked Insurance Scheme (ULIS) fell less in its worst fall since 13-08-2019: −31.0% against −34.0%.
- Union Focused holds more in large companies: 59.0% of the fund in large caps against 33.0%.
- Union Focused is the larger fund: ₹433 Cr against ₹424 Cr.
- Their portfolios overlap 23.2%: 10 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 Unit Linked Insurance Scheme (ULIS) | Union Focused Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Union Mutual Fund |
| Category | ELSS | Focused |
| AUM | ₹424 Cr (30-09-2026) | ₹433 Cr (30-09-2026) |
| NAV | ₹39.28 (Direct) | ₹28.47 (Direct) |
| Expense ratio (Direct) | 1.80% | 1.55% |
| Expense ratio (Regular) | 2.79% | 2.55% |
| Riskometer | Very High | Very High |
| Benchmark | CRISIL Hybrid 35+65 - Aggressive Index | BSE 500 TRI |
| Launch date | 19-06-1989 | 05-08-2019 |
| Minimum investment | 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. | ₹1,000 |
| Lock in | 3 years | None |
| Fund managers | Siddharth Panjwani, Pratik Harish Shroff | Pratik Dharmshi, Vinod Malviya |
| Exit load | Nil (Lock-in Period:- Repurchase after lock-in period of 3 years from the date of Investment.) | Exit load of 1%, if redeemed within 15 days. |
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Focused: 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 Unit Linked Insurance Scheme (ULIS) (Direct) | −2.20% | −4.03% | +0.42% | −4.81% | +7.06% | +6.23% | +9.91% |
| Union Focused Fund (Direct) | +0.28% | −2.47% | +3.79% | +2.74% | +11.50% | +8.82% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | +10.21% | -- |
Category average: the average of the 50 ELSS funds and the 28 Focused funds, same plan type.
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Focused: Year-wise Returns
| Year | LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) | Union FocusedUnion Focused |
|---|---|---|
| 2026to date | −3.48% | +6.75% |
| 2025 | +3.67% | −0.89% |
| 2024 | +12.96% | +17.51% |
| 2023 | +17.69% | +22.00% |
| 2022 | +1.20% | +0.86% |
| 2021 | +26.69% | +35.44% |
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Focused: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Union Focused Fund
Rolling returns
Every 3-year holding period, 1,035 of them, one for each trading day from 16-08-2022 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 Unit Linked Insurance Scheme (ULIS) (Direct)
Union Focused Fund (Direct)
BSE 500 TRI
to
Dec 2022Sept 2020
to
Sept 2023May 2021
to
May 2024Feb 2022
to
Feb 2025Oct 2022
to
Oct 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 Unit Linked Insurance Scheme (ULIS) | 0.0 | 0.0 | 20.5 | 56.0 | 18.4 | 5.1 | 0.0 | 13.0% | 12.3% | 5.9% | 23.2% | 0% |
| Union Focused | 0.0 | 0.0 | 1.6 | 44.5 | 34.7 | 14.8 | 4.3 | 16.5% | 15.6% | 8.7% | 31.3% | 24% |
| BSE 500 TRI | 0.0 | 0.0 | 2.3 | 19.7 | 49.8 | 19.7 | 8.5 | 18.1% | 17.8% | 8.4% | 33.9% | -- |
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. The benchmark is BSE 500 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 13-08-2019. Past returns do not promise future returns.
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Focused: 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 01-08-2019 to 30-10-2026: 87 instalments, ₹8,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | ₹8,70,000 | ₹11,90,068 | ₹3,20,068 | 8.5% |
| Union FocusedUnion Focused Fund (Direct) | ₹8,70,000 | ₹14,01,686 | ₹5,31,686 | 12.9% |
LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
Union FocusedUnion Focused 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 Unit Linked Insurance Scheme (ULIS) vs Union Focused: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | Union Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.81% | +2.74% |
| Standard deviation | 11.55% | 15.81% |
| Sharpe ratio | -0.87 | -0.16 |
| Sortino ratio | -1.17 | -0.21 |
| Maximum drawdown | −12.1% (30-03-2026) | −11.7% (23-03-2026) |
| Beta | -- | 1.01 |
| Alpha | -- | +10.48% |
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 Unit Linked Insurance Scheme (ULIS) (Direct) | Union Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.06% | +11.50% |
| Standard deviation | 10.48% | 14.98% |
| Sharpe ratio | 0.10 | 0.37 |
| Sortino ratio | 0.14 | 0.49 |
| Maximum drawdown | −13.9% (30-03-2026) | −17.0% (28-02-2025) |
| Beta | -- | 0.99 |
| Alpha | -- | +1.64% |
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 Unit Linked Insurance Scheme (ULIS) (Direct) | Union Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.23% | +8.82% |
| Standard deviation | 10.72% | 14.29% |
| Sharpe ratio | 0.04 | 0.21 |
| Sortino ratio | 0.05 | 0.28 |
| Maximum drawdown | −14.8% (17-06-2022) | −18.4% (17-06-2022) |
| Beta | -- | 0.94 |
| Alpha | -- | +0.32% |
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 Unit Linked Insurance Scheme (ULIS) (Direct) | Union Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.29% | +15.58% |
| Standard deviation | 12.29% | 16.84% |
| Sharpe ratio | 0.30 | 0.62 |
| Sortino ratio | 0.40 | 0.84 |
| Maximum drawdown | −31.0% (23-03-2020) | −34.0% (23-03-2020) |
| Beta | -- | 0.93 |
| Alpha | -- | +1.74% |
From daily NAVs, 16-06-2015 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 Unit Linked Insurance Scheme (ULIS) (Direct)
Union Focused Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | −31.0% | 12-02-2020 | 23-03-2020 | 03-12-2020 | 8 months | −6.8% |
| Union Focused Fund (Direct) | −34.0% | 19-02-2020 | 23-03-2020 | 16-09-2020 | 6 months | −6.1% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 13-08-2019, 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 Unit Linked Insurance Scheme (ULIS) (Direct)
Union Focused Fund (Direct)
BSE 500 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 Unit Linked Insurance Scheme (ULIS) (Direct)
Union Focused Fund (Direct)
BSE 500 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 Unit Linked Insurance Scheme (ULIS) (Direct)
Union Focused Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | 75% | 77% | 5.93% |
| Union Focused Fund (Direct) | 91% | 78% | 5.44% |
From month-end values since 13-08-2019. 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 Unit Linked Insurance Scheme (ULIS) vs Union Focused: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Unit Linked Insurance Scheme (ULIS), September 2026; Union Focused Fund, September 2026
Holdings in common
- Overlap
- 23.2%
- Held by both
- 10
- Only in LIC MF Unit Linked Insurance Scheme (ULIS)
- 38
- Only in Union Focused
- 21
| Security | % of LIC MF Unit Linked Insurance Scheme (ULIS) | % of Union Focused |
|---|---|---|
| Solar Industries India Ltd. | 3.88% | 5.47% |
| Torrent Pharmaceuticals Ltd. | 3.62% | 4.19% |
| Bharti Airtel Ltd. | 3.31% | 2.92% |
| Navin Fluorine International Ltd. | 2.62% | 4.34% |
| Eternal Ltd. | 2.56% | 4.35% |
| Ujjivan Small Finance Bank Ltd. | 1.95% | 3.38% |
| Bharat Electronics Ltd. | 1.83% | 3.73% |
| GE Vernova T&D India Limited | 1.78% | 3.59% |
| ICICI Bank Ltd. | 1.25% | 8.77% |
| Infosys Ltd. | 0.82% | 2.76% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.2% means 23.2% 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 Unit Linked Insurance Scheme (ULIS)
| Security | % of fund |
|---|---|
| Divi's Laboratories Ltd. | 4.00% |
| Bajaj Auto Ltd. | 3.97% |
| Sona BLW Precision Forgings Ltd. | 3.91% |
| 7.63% State Government of Maharashtra | 3.53% |
| Titan Company Ltd. | 3.13% |
Largest holdings only in Union Focused Fund
| Security | % of fund |
|---|---|
| Gabriel India Ltd. | 4.81% |
| Tata Consumer Products Ltd. | 4.10% |
| HDFC Bank Ltd. | 4.09% |
| Multi Commodity Exchange of India Ltd. | 4.03% |
| Hitachi Energy India Ltd. | 3.68% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Unit Linked Insurance Scheme (ULIS) | Union Focused |
|---|---|---|
| Equity | 76.3% | 98.8% |
| Debt | 14.1% | 0.1% |
| Cash and others | 9.6% | 1.1% |
Market cap of stocks
| Market cap | LIC MF Unit Linked Insurance Scheme (ULIS) | Union Focused |
|---|---|---|
| Large Cap | 33.0% | 59.0% |
| Mid Cap | 19.6% | 16.0% |
| Small Cap | 19.9% | 23.9% |
| Not on AMFI's list | 3.9% | 0.0% |
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 Unit Linked Insurance Scheme (ULIS) | Union Focused |
|---|---|---|
| Banks | 4.5% | 22.9% |
| Electrical Equipment | 5.4% | 12.9% |
| Pharmaceuticals & Biotechnology | 11.8% | 7.0% |
| Chemicals & Petrochemicals | 6.5% | 9.8% |
| Retailing | 8.8% | 6.5% |
| Auto Components | 6.8% | 6.4% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Focused: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Unit Linked Insurance Scheme (ULIS) | Union Focused Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.80% | 1.55% |
| Base expense ratio (Direct) | 1.19% | 1.25% |
| Total expense ratio (Regular) | 2.79% | 2.55% |
| Base expense ratio (Regular) | 2.10% | 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
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LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Focused Fund: Frequently Asked Questions
What is the difference between LIC MF Unit Linked Insurance Scheme (ULIS) and Union Focused Fund?
LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund, Union Focused Fund is a Focused fund, run by LIC Mutual Fund and Union Mutual Fund. Their portfolios overlap 23.2%. LIC MF Unit Linked Insurance Scheme (ULIS) charges 1.80% a year and Union Focused Fund 1.55%.
Which has given higher returns, LIC MF Unit Linked Insurance Scheme (ULIS) or Union Focused Fund?
Over 1 year: LIC MF Unit Linked Insurance Scheme (ULIS) −4.81%, Union Focused Fund +2.74%. Over 3 years: LIC MF Unit Linked Insurance Scheme (ULIS) +7.06% a year, Union Focused Fund +11.50% a year. Over 5 years: LIC MF Unit Linked Insurance Scheme (ULIS) +6.23% a year, Union Focused Fund +8.82% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Unit Linked Insurance Scheme (ULIS) or Union Focused Fund?
Union Focused Fund charges less: 1.55% a year against 1.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Unit Linked Insurance Scheme (ULIS) and Union Focused Fund overlap?
23.2%. They hold 10 of the same securities, the largest shared ones being SOLARINDS, TORNTPHARM, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Unit Linked Insurance Scheme (ULIS) or Union Focused Fund?
On SEBI's riskometer, LIC MF Unit Linked Insurance Scheme (ULIS) is rated Very High and Union Focused Fund Very High. Over 3 years, the standard deviation of daily returns was 10.48% and 14.98% a year.
Which is better for SIP, LIC MF Unit Linked Insurance Scheme (ULIS) or Union Focused Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,99,999 in LIC MF Unit Linked Insurance Scheme (ULIS) (XIRR 5.4% a year) and ₹7,80,007 in Union Focused Fund (XIRR 9.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF Unit Linked Insurance Scheme (ULIS) and Union Focused Fund?
Yes. 23.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF Unit Linked Insurance Scheme (ULIS) and Union Focused Fund?
LIC MF Unit Linked Insurance Scheme (ULIS): Siddharth Panjwani, Pratik Harish Shroff. Union Focused Fund: Pratik Dharmshi, Vinod Malviya.
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.