LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Largecap Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund and Union Largecap Fund is a Large Cap fund. In the 3 years to 30-10-2026, LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) returned 7.1% a year and Union Largecap Fund (Direct) returned 7.8% a year. LIC MF Unit Linked Insurance Scheme (ULIS) charges 1.80% a year and Union Largecap Fund 1.68% (Direct plans). Their portfolios overlap 23.9%: they hold 13 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 Largecap? 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 6.1%.
- Union Largecap returned more over 3 years: 7.8% a year against 7.1%.
- Union Largecap costs less: 1.68% 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 13.7%.
- LIC MF Unit Linked Insurance Scheme (ULIS) fell less in its worst fall since 18-05-2017: −31.0% against −36.4%.
- Union Largecap holds more in large companies: 83.0% of the fund in large caps against 33.0%.
- LIC MF Unit Linked Insurance Scheme (ULIS) is the larger fund: ₹424 Cr against ₹408 Cr.
- Their portfolios overlap 23.9%: 13 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 Largecap Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Union Mutual Fund |
| Category | ELSS | Large Cap |
| AUM | ₹424 Cr (30-09-2026) | ₹408 Cr (30-09-2026) |
| NAV | ₹39.28 (Direct) | ₹23.73 (Direct) |
| Expense ratio (Direct) | 1.80% | 1.68% |
| Expense ratio (Regular) | 2.79% | 2.58% |
| Riskometer | Very High | Very High |
| Benchmark | CRISIL Hybrid 35+65 - Aggressive Index | BSE 100 TRI |
| Launch date | 19-06-1989 | 11-05-2017 |
| 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, Sanjay Bembalkar |
| 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 Largecap: 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 Largecap Fund (Direct) | +0.98% | −4.24% | −2.18% | −8.09% | +7.81% | +6.11% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | -- |
Category average: the average of the 50 ELSS funds and the 35 Large Cap funds, same plan type.
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Largecap: Year-wise Returns
| Year | LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) | Union LargecapUnion Largecap |
|---|---|---|
| 2026to date | −3.48% | −7.05% |
| 2025 | +3.67% | +5.23% |
| 2024 | +12.96% | +13.31% |
| 2023 | +17.69% | +23.26% |
| 2022 | +1.20% | +0.23% |
| 2021 | +26.69% | +29.33% |
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Largecap: Rolling Returns
Every holding period of both funds, against BSE 100 TRI, the benchmark of Union Largecap Fund
Rolling returns
Every 3-year holding period, 1,594 of them, one for each trading day from 18-05-2020 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 Largecap Fund (Direct)
BSE 100 TRI
to
Nov 2020Dec 2018
to
Dec 2021Feb 2020
to
Feb 2023Mar 2021
to
Mar 2024Apr 2022
to
Apr 2025Apr 2023
to
Apr 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) | 0.3 | 7.5 | 20.5 | 48.2 | 20.3 | 3.3 | 0.0 | 12.1% | 11.8% | −0.8% | 23.2% | 0% |
| Union Largecap | 1.5 | 6.4 | 11.4 | 39.8 | 29.8 | 10.0 | 1.0 | 13.7% | 14.0% | −4.7% | 30.0% | 6% |
| BSE 100 TRI | 0.4 | 5.0 | 7.5 | 33.2 | 41.2 | 9.2 | 3.5 | 15.1% | 15.5% | −1.6% | 32.8% | -- |
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 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 18-05-2017. Past returns do not promise future returns.
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Largecap: 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 02-05-2017 to 30-10-2026: 114 instalments, ₹11,40,000 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) | ₹11,40,000 | ₹17,70,688 | ₹6,30,688 | 9.0% |
| Union LargecapUnion Largecap Fund (Direct) | ₹11,40,000 | ₹18,38,214 | ₹6,98,214 | 9.8% |
LIC MF Unit Linked Insurance Scheme (ULIS)LIC MF Unit Linked Insurance Scheme (ULIS) (Direct)
Union LargecapUnion Largecap 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 Largecap: 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 Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.81% | −8.09% |
| Standard deviation | 11.55% | 14.03% |
| Sharpe ratio | -0.87 | -0.95 |
| Sortino ratio | -1.17 | -1.27 |
| Maximum drawdown | −12.1% (30-03-2026) | −14.1% (30-03-2026) |
| Beta | -- | 0.99 |
| Alpha | -- | +0.69% |
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 Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.06% | +7.81% |
| Standard deviation | 10.48% | 13.72% |
| Sharpe ratio | 0.10 | 0.13 |
| Sortino ratio | 0.14 | 0.18 |
| Maximum drawdown | −13.9% (30-03-2026) | −16.3% (28-02-2025) |
| Beta | -- | 0.99 |
| Alpha | -- | −1.14% |
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 Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.23% | +6.11% |
| Standard deviation | 10.72% | 13.79% |
| Sharpe ratio | 0.04 | 0.02 |
| Sortino ratio | 0.05 | 0.03 |
| Maximum drawdown | −14.8% (17-06-2022) | −18.8% (17-06-2022) |
| Beta | -- | 0.98 |
| Alpha | -- | −1.63% |
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 Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.29% | +9.55% |
| Standard deviation | 12.29% | 16.04% |
| Sharpe ratio | 0.30 | 0.26 |
| Sortino ratio | 0.40 | 0.35 |
| Maximum drawdown | −31.0% (23-03-2020) | −36.4% (23-03-2020) |
| Beta | -- | 0.97 |
| Alpha | -- | −1.93% |
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 Largecap Fund (Direct)
BSE 100 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 Largecap Fund (Direct) | −36.4% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
| BSE 100 TRI | −38.0% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.4% |
From daily values since 18-05-2017, 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 Largecap Fund (Direct)
BSE 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 Unit Linked Insurance Scheme (ULIS) (Direct)
Union Largecap Fund (Direct)
BSE 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 Unit Linked Insurance Scheme (ULIS) (Direct)
Union Largecap Fund (Direct)
BSE 100 TRI
Against BSE 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF Unit Linked Insurance Scheme (ULIS) (Direct) | 79% | 77% | 5.84% |
| Union Largecap Fund (Direct) | 92% | 99% | 3.04% |
From month-end values since 18-05-2017. 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 Largecap: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Unit Linked Insurance Scheme (ULIS), September 2026; Union Largecap Fund, September 2026
Holdings in common
- Overlap
- 23.9%
- Held by both
- 13
- Only in LIC MF Unit Linked Insurance Scheme (ULIS)
- 35
- Only in Union Largecap
- 44
| Security | % of LIC MF Unit Linked Insurance Scheme (ULIS) | % of Union Largecap |
|---|---|---|
| Bharti Airtel Ltd. | 3.31% | 4.31% |
| Torrent Pharmaceuticals Ltd. | 3.62% | 3.27% |
| Eternal Ltd. | 2.56% | 3.27% |
| Solar Industries India Ltd. | 3.88% | 2.45% |
| Titan Company Ltd. | 3.13% | 2.39% |
| NSE India Ltd. | 1.92% | 1.70% |
| Bharat Electronics Ltd. | 1.83% | 1.40% |
| Bajaj Finance Ltd. | 1.36% | 2.00% |
| GE Vernova T&D India Limited | 1.78% | 1.31% |
| ICICI Bank Ltd. | 1.25% | 9.41% |
| Divi's Laboratories Ltd. | 4.00% | 1.16% |
| Navin Fluorine International Ltd. | 2.62% | 0.97% |
| Infosys Ltd. | 0.82% | 2.69% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.9% means 23.9% 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 |
|---|---|
| Bajaj Auto Ltd. | 3.97% |
| Sona BLW Precision Forgings Ltd. | 3.91% |
| 7.63% State Government of Maharashtra | 3.53% |
| FSN E-Commerce Ventures Ltd. | 2.79% |
| 6.94% Government of India | 2.38% |
Largest holdings only in Union Largecap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 6.95% |
| Reliance Industries Ltd. | 5.28% |
| State Bank of India | 4.18% |
| Axis Bank Ltd. | 3.24% |
| Mahindra & Mahindra Ltd. | 2.68% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Unit Linked Insurance Scheme (ULIS) | Union Largecap |
|---|---|---|
| Equity | 76.3% | 99.0% |
| Debt | 14.1% | 0.1% |
| Cash and others | 9.6% | 0.9% |
Market cap of stocks
| Market cap | LIC MF Unit Linked Insurance Scheme (ULIS) | Union Largecap |
|---|---|---|
| Large Cap | 33.0% | 83.0% |
| Mid Cap | 19.6% | 10.7% |
| Small Cap | 19.9% | 3.6% |
| Not on AMFI's list | 3.9% | 1.7% |
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 Largecap |
|---|---|---|
| Banks | 4.5% | 26.3% |
| Pharmaceuticals & Biotechnology | 11.8% | 5.2% |
| Retailing | 8.8% | 4.6% |
| Auto Components | 6.8% | 2.2% |
| Chemicals & Petrochemicals | 6.5% | 3.4% |
| Electrical Equipment | 5.4% | 4.3% |
| Petroleum Products | 0.0% | 5.3% |
| Automobiles | 4.0% | 4.9% |
| Finance | 3.2% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Largecap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Unit Linked Insurance Scheme (ULIS) | Union Largecap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.80% | 1.68% |
| Base expense ratio (Direct) | 1.19% | 1.34% |
| Total expense ratio (Regular) | 2.79% | 2.58% |
| 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
Compare LIC MF Unit Linked Insurance Scheme (ULIS) with
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LIC MF Unit Linked Insurance Scheme (ULIS) vs Union Largecap Fund: Frequently Asked Questions
What is the difference between LIC MF Unit Linked Insurance Scheme (ULIS) and Union Largecap Fund?
LIC MF Unit Linked Insurance Scheme (ULIS) is an ELSS fund, Union Largecap Fund is a Large Cap fund, run by LIC Mutual Fund and Union Mutual Fund. Their portfolios overlap 23.9%. LIC MF Unit Linked Insurance Scheme (ULIS) charges 1.80% a year and Union Largecap Fund 1.68%.
Which has given higher returns, LIC MF Unit Linked Insurance Scheme (ULIS) or Union Largecap Fund?
Over 1 year: LIC MF Unit Linked Insurance Scheme (ULIS) −4.81%, Union Largecap Fund −8.09%. Over 3 years: LIC MF Unit Linked Insurance Scheme (ULIS) +7.06% a year, Union Largecap Fund +7.81% a year. Over 5 years: LIC MF Unit Linked Insurance Scheme (ULIS) +6.23% a year, Union Largecap Fund +6.11% 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 Largecap Fund?
Union Largecap Fund charges less: 1.68% 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 Largecap Fund overlap?
23.9%. They hold 13 of the same securities, the largest shared ones being BHARTIARTL, TORNTPHARM, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Unit Linked Insurance Scheme (ULIS) or Union Largecap Fund?
On SEBI's riskometer, LIC MF Unit Linked Insurance Scheme (ULIS) is rated Very High and Union Largecap Fund Very High. Over 3 years, the standard deviation of daily returns was 10.48% and 13.72% a year.
Which is better for SIP, LIC MF Unit Linked Insurance Scheme (ULIS) or Union Largecap 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 ₹7,02,268 in Union Largecap Fund (XIRR 5.5% 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 Largecap Fund?
Yes. 23.9% 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 Largecap Fund?
LIC MF Unit Linked Insurance Scheme (ULIS): Siddharth Panjwani, Pratik Harish Shroff. Union Largecap Fund: Pratik Dharmshi, Sanjay Bembalkar.
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.