Mahindra Manulife Consumption Fund vs Union Consumption Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Consumption Fund is a Thematic fund and Union Consumption Fund is a Thematic fund. Mahindra Manulife Consumption Fund charges 1.09% a year and Union Consumption Fund 1.37% (Direct plans). Their portfolios overlap 49.5%: they hold 21 of the same securities.
Mahindra Manulife Consumption Fund
Thematic
- Expense ratio
- 1.09%
- NAV
- ₹23.52
Which is better, Mahindra Manulife Consumption or Union Consumption? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mahindra Manulife Consumption costs less: 1.09% a year against 1.37% (Direct plans).
- Mahindra Manulife Consumption fell less in its worst fall since 26-12-2025: −15.6% against −16.8%.
- Mahindra Manulife Consumption is the larger fund: ₹453 Cr against ₹314 Cr.
- Their portfolios overlap 49.5%: 21 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 | Mahindra Manulife Consumption Fund | Union Consumption Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | Union Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹453 Cr (30-09-2026) | ₹314 Cr (30-09-2026) |
| NAV | ₹23.52 (Direct) | ₹9.56 (Direct) |
| Expense ratio (Direct) | 1.09% | 1.37% |
| Expense ratio (Regular) | 2.66% | 2.69% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Consumption TRI | Nifty India Consumption TRI |
| Launch date | 13-11-2018 | 22-12-2025 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | $ Mr. Navin Matta, $ Mr. Hemang Kapasi | Vinod Malviya, Sanjay Bembalkar |
| Exit load | Exit load of 1%, if redeemed within 3 months. | Exit load of 1%, if redeemed within 1 Year. |
Mahindra Manulife Consumption vs Union Consumption: 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 |
|---|---|---|---|---|---|---|---|
| Mahindra Manulife Consumption Fund (Direct) | −1.61% | −6.79% | −2.44% | −11.33% | +8.78% | +9.98% | -- |
| Union Consumption Fund (Direct) | +0.42% | −2.65% | +4.14% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Mahindra Manulife Consumption vs Union Consumption: Year-wise Returns
| Year | Mahindra ManulifeMahindra Manulife Consumption | UnionUnion Consumption | Nifty India Consumption TRI |
|---|---|---|---|
| 2026to date | −9.37% | −4.69% | −9.10% |
| 2025 | +3.05% | -- | +9.22% |
| 2024 | +23.44% | -- | +19.77% |
| 2023 | +29.08% | -- | +27.96% |
| 2022 | +9.53% | -- | +8.53% |
| 2021 | +24.56% | -- | +20.82% |
Mahindra Manulife Consumption vs Union Consumption: Rolling Returns
Every holding period of both funds, against Nifty India Consumption TRI, the benchmark of both
Mahindra Manulife Consumption vs Union Consumption: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Consumption Fund (Direct) | Union Consumption Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.32% | −5.20% |
| Standard deviation | 15.71% | 15.32% |
| Sharpe ratio | 0.39 | -0.68 |
| Sortino ratio | 0.52 | -0.91 |
| Maximum drawdown | −34.0% (23-03-2020) | −16.8% (30-03-2026) |
| Beta | 0.90 | 0.91 |
| Alpha | −0.29% | +3.54% |
From daily NAVs, 16-11-2018 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.
Mahindra Manulife Consumption Fund (Direct)
Union Consumption Fund (Direct)
Nifty India Consumption TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Consumption Fund (Direct) | −15.6% | 02-01-2026 | 23-03-2026 | Not yet | -- | −9.4% |
| Union Consumption Fund (Direct) | −16.8% | 05-01-2026 | 30-03-2026 | 14-08-2026 | 5 months | −5.6% |
| Nifty India Consumption TRI | −15.8% | 31-12-2025 | 30-03-2026 | 03-08-2026 | 4 months | −9.5% |
From daily values since 26-12-2025, the first day every fund has.
Mahindra Manulife Consumption vs Union Consumption: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Consumption Fund, September 2026; Union Consumption Fund, September 2026
Holdings in common
- Overlap
- 49.5%
- Held by both
- 21
- Only in Mahindra Manulife Consumption
- 27
- Only in Union Consumption
- 27
| Security | % of Mahindra Manulife Consumption | % of Union Consumption |
|---|---|---|
| Eternal Limited | 6.73% | 7.22% |
| Bharti Airtel Limited | 6.72% | 7.05% |
| Mahindra & Mahindra Limited | 6.25% | 5.27% |
| Titan Company Limited | 4.47% | 3.63% |
| Trent Limited | 3.17% | 3.65% |
| Maruti Suzuki India Limited | 2.87% | 4.78% |
| Radico Khaitan Limited | 2.41% | 3.30% |
| Varun Beverages Ltd | 2.21% | 3.79% |
| LG Electronics India Ltd | 2.06% | 2.94% |
| Tata Consumer Products Limited | 2.05% | 2.34% |
| Hindustan Unilever Limited | 2.51% | 1.95% |
| TVS Motor Company Limited | 2.58% | 1.65% |
| Blue Star Limited | 1.64% | 1.59% |
| ITC Limited | 3.06% | 1.42% |
| Doms Industries Limited | 1.78% | 1.12% |
| Greenply Industries Limited | 1.08% | 1.12% |
| InterGlobe Aviation Limited | 1.04% | 1.21% |
| Metro Brands Limited | 0.91% | 1.45% |
| Hyundai Motor India Ltd | 1.53% | 0.84% |
| Dixon Technologies (India) Limited | 1.45% | 0.42% |
| Nestle India Limited | 0.97% | 0.37% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.5% means 49.5% 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 Mahindra Manulife Consumption Fund
| Security | % of fund |
|---|---|
| Bajaj Auto Limited | 3.84% |
| Aditya Vision Ltd | 2.48% |
| Britannia Industries Limited | 2.15% |
| Shaily Engineering Plastics Limited | 2.01% |
| Avenue Supermarts Limited | 1.95% |
Largest holdings only in Union Consumption Fund
| Security | % of fund |
|---|---|
| FSN E-Commerce Ventures Ltd. | 2.85% |
| Zydus Wellness Ltd. | 2.83% |
| Ather Energy Ltd. | 2.70% |
| Honasa Consumer Ltd. | 2.67% |
| One 97 Communications Ltd. | 2.60% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Consumption | Union Consumption |
|---|---|---|
| Equity | 98.4% | 98.7% |
| Debt | 0.0% | 0.1% |
| Cash and others | 1.6% | 1.2% |
Market cap of stocks
| Market cap | Mahindra Manulife Consumption | Union Consumption |
|---|---|---|
| Large Cap | 60.0% | 50.1% |
| Mid Cap | 14.5% | 25.4% |
| Small Cap | 23.9% | 20.4% |
| Not on AMFI's list | 0.0% | 2.8% |
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 | Mahindra Manulife Consumption | Union Consumption |
|---|---|---|
| Retailing | 16.8% | 19.9% |
| Automobiles | 17.1% | 15.2% |
| Consumer Durables | 14.6% | 13.0% |
| Telecom - Services | 8.1% | 7.0% |
| Beverages | 6.5% | 7.1% |
| Diversified FMCG | 7.0% | 3.4% |
| Agricultural Food & other Products | 2.0% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Mahindra Manulife Consumption vs Union Consumption: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Consumption Fund | Union Consumption Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | 1.37% |
| Base expense ratio (Direct) | 0.73% | 0.94% |
| Total expense ratio (Regular) | 2.66% | 2.69% |
| 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 Mahindra Manulife Consumption with
Mahindra Manulife Consumption Fund vs Union Consumption Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Consumption Fund and Union Consumption Fund?
Mahindra Manulife Consumption Fund is a Thematic fund, Union Consumption Fund is a Thematic fund, run by Mahindra Manulife Mutual Fund and Union Mutual Fund. Their portfolios overlap 49.5%. Mahindra Manulife Consumption Fund charges 1.09% a year and Union Consumption Fund 1.37%.
Which has the lower expense ratio, Mahindra Manulife Consumption Fund or Union Consumption Fund?
Mahindra Manulife Consumption Fund charges less: 1.09% a year against 1.37%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Consumption Fund and Union Consumption Fund overlap?
49.5%. They hold 21 of the same securities, the largest shared ones being ETERNAL, BHARTIARTL, M&M. From each fund's latest monthly portfolio.
Which is riskier, Mahindra Manulife Consumption Fund or Union Consumption Fund?
On SEBI's riskometer, Mahindra Manulife Consumption Fund is rated Very High and Union Consumption Fund Very High. Over their common history, the standard deviation of daily returns was 15.71% and 15.32% a year.
Can I invest in both Mahindra Manulife Consumption Fund and Union Consumption Fund?
Yes. 49.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Mahindra Manulife Consumption Fund and Union Consumption Fund?
Mahindra Manulife Consumption Fund: $ Mr. Navin Matta, $ Mr. Hemang Kapasi. Union Consumption Fund: Vinod Malviya, 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.