Mahindra Manulife Large Cap Fund vs Nippon India Quant Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Large Cap Fund is a Large Cap fund and Nippon India Quant Fund is a Thematic fund. In the 3 years to 30-10-2026, Mahindra Manulife Large Cap Fund (Direct) returned 9.2% a year and Nippon India Quant Fund (Direct) returned 12.9% a year. Mahindra Manulife Large Cap Fund charges 1.09% a year and Nippon India Quant Fund 0.84% (Direct plans). Their portfolios overlap 44.8%: they hold 17 of the same securities.
Mahindra Manulife Large Cap Fund
Large Cap
- 3 year return
- 9.2%
- Expense ratio
- 1.09%
- NAV
- ₹24.22
Nippon India Quant Fund
Thematic
- 3 year return
- 12.9%
- Expense ratio
- 0.84%
- NAV
- ₹74.84
Which is better, Mahindra Manulife Large Cap or Nippon India Quant? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Quant returned more over 5 years: 12.0% a year against 7.6%.
- Nippon India Quant returned more over 3 years: 12.9% a year against 9.2%.
- Nippon India Quant costs less: 0.84% a year against 1.09% (Direct plans).
- Mahindra Manulife Large Cap swung less over 3 years: a standard deviation of 12.9% a year against 15.0%.
- Nippon India Quant fell less in its worst fall since 19-03-2019: −32.8% against −35.3%.
- Mahindra Manulife Large Cap is the larger fund: ₹647 Cr against ₹108 Cr.
- Their portfolios overlap 44.8%: 17 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 Large Cap Fund | Nippon India Quant Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | Nippon India Mutual Fund |
| Category | Large Cap | Thematic |
| AUM | ₹647 Cr (30-09-2026) | ₹108 Cr (30-09-2026) |
| NAV | ₹24.22 (Direct) | ₹74.84 (Direct) |
| Expense ratio (Direct) | 1.09% | 0.84% |
| Expense ratio (Regular) | 2.60% | 1.27% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | BSE 200 TRI |
| Launch date | 15-03-2019 | 18-04-2008 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | $ Mr. Hemang Kapasi, $ Ms. Kirti Dalvii | Shirish Guthe |
| Exit load | An Exit Load of 1% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment, Nil if Units are redeemed / switched-out after 3 months from the date of allotment. | Exit load of 0.25% if redeemed within 1 month |
Mahindra Manulife Large Cap vs Nippon India Quant: 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 Large Cap Fund (Direct) | +1.55% | −5.30% | −2.62% | −8.80% | +9.23% | +7.57% | -- |
| Nippon India Quant Fund (Direct) | −0.34% | −7.17% | −3.57% | −5.85% | +12.91% | +11.97% | +13.66% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 35 Large Cap funds and the 235 Thematic funds, same plan type.
Mahindra Manulife Large Cap vs Nippon India Quant: Year-wise Returns
| Year | Mahindra Manulife Large CapMahindra Manulife Large Cap | Nippon India QuantNippon India Quant |
|---|---|---|
| 2026to date | −10.45% | −7.07% |
| 2025 | +11.28% | +8.37% |
| 2024 | +14.73% | +20.55% |
| 2023 | +23.99% | +35.78% |
| 2022 | +3.87% | +8.17% |
| 2021 | +31.99% | +32.37% |
Mahindra Manulife Large Cap vs Nippon India Quant: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of Mahindra Manulife Large Cap Fund
Rolling returns
Every 3-year holding period, 1,137 of them, one for each trading day from 21-03-2022 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.
Mahindra Manulife Large Cap Fund (Direct)
Nippon India Quant Fund (Direct)
Nifty 100 TRI
to
Aug 2022May 2020
to
May 2023Feb 2021
to
Feb 2024Dec 2021
to
Dec 2024Sept 2022
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mahindra Manulife Large Cap | 0.0 | 0.0 | 3.4 | 25.0 | 55.2 | 12.9 | 3.4 | 16.8% | 16.6% | 7.0% | 30.9% | 92% |
| Nippon India Quant | 0.0 | 0.0 | 0.0 | 7.9 | 32.0 | 47.8 | 12.2 | 20.8% | 20.9% | 11.2% | 32.2% | 100% |
| Nifty 100 TRI | 0.0 | 0.0 | 4.3 | 40.8 | 43.2 | 8.5 | 3.2 | 15.7% | 15.4% | 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 19-03-2019. Past returns do not promise future returns.
Mahindra Manulife Large Cap vs Nippon India Quant: 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 19-03-2019 to 30-10-2026: 92 instalments, ₹9,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mahindra Manulife Large CapMahindra Manulife Large Cap Fund (Direct) | ₹9,20,000 | ₹14,04,916 | ₹4,84,916 | 10.8% |
| Nippon India QuantNippon India Quant Fund (Direct) | ₹9,20,000 | ₹16,09,544 | ₹6,89,544 | 14.3% |
Mahindra Manulife Large CapMahindra Manulife Large Cap Fund (Direct)
Nippon India QuantNippon India Quant 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.
Mahindra Manulife Large Cap vs Nippon India Quant: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Large Cap Fund (Direct) | Nippon India Quant Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.80% | −5.85% |
| Standard deviation | 13.18% | 14.31% |
| Sharpe ratio | -1.07 | -0.77 |
| Sortino ratio | -1.42 | -1.03 |
| Maximum drawdown | −14.6% (31-03-2026) | −12.5% (31-03-2026) |
| Beta | 0.94 | 1.00 |
| Alpha | −1.01% | +2.43% |
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 | Mahindra Manulife Large Cap Fund (Direct) | Nippon India Quant Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.23% | +12.91% |
| Standard deviation | 12.91% | 14.95% |
| Sharpe ratio | 0.25 | 0.46 |
| Sortino ratio | 0.34 | 0.62 |
| Maximum drawdown | −15.1% (28-02-2025) | −16.9% (28-02-2025) |
| Beta | 0.93 | 1.05 |
| Alpha | +0.36% | +3.13% |
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 | Mahindra Manulife Large Cap Fund (Direct) | Nippon India Quant Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.57% | +11.97% |
| Standard deviation | 13.40% | 14.82% |
| Sharpe ratio | 0.13 | 0.42 |
| Sortino ratio | 0.18 | 0.57 |
| Maximum drawdown | −16.7% (17-06-2022) | −17.1% (20-06-2022) |
| Beta | 0.95 | 1.02 |
| Alpha | +0.42% | +3.71% |
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 | Mahindra Manulife Large Cap Fund (Direct) | Nippon India Quant Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.29% | +12.64% |
| Standard deviation | 16.22% | 15.72% |
| Sharpe ratio | 0.44 | 0.42 |
| Sortino ratio | 0.60 | 0.57 |
| Maximum drawdown | −35.3% (23-03-2020) | −32.8% (23-03-2020) |
| Beta | 0.93 | 0.96 |
| Alpha | +1.56% | +0.27% |
From daily NAVs, 19-03-2019 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 Large Cap Fund (Direct)
Nippon India Quant Fund (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Large Cap Fund (Direct) | −35.3% | 24-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −11.4% |
| Nippon India Quant Fund (Direct) | −32.8% | 19-02-2020 | 23-03-2020 | 05-11-2020 | 7 months | −9.2% |
| Nifty 100 TRI | −37.9% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.1% |
From daily values since 19-03-2019, 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.
Mahindra Manulife Large Cap Fund (Direct)
Nippon India Quant 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.
Mahindra Manulife Large Cap Fund (Direct)
Nippon India Quant 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.
Mahindra Manulife Large Cap Fund (Direct)
Nippon India Quant Fund (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mahindra Manulife Large Cap Fund (Direct) | 98% | 90% | 3.31% |
| Nippon India Quant Fund (Direct) | 101% | 84% | 4.90% |
From month-end values since 19-03-2019. 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.
Mahindra Manulife Large Cap vs Nippon India Quant: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Large Cap Fund, September 2026; Nippon India Quant Fund, September 2026
Holdings in common
- Overlap
- 44.8%
- Held by both
- 17
- Only in Mahindra Manulife Large Cap
- 27
- Only in Nippon India Quant
- 15
| Security | % of Mahindra Manulife Large Cap | % of Nippon India Quant |
|---|---|---|
| ICICI Bank Limited | 8.79% | 7.36% |
| HDFC Bank Limited | 8.06% | 7.23% |
| Reliance Industries Limited | 4.97% | 3.63% |
| Bharti Airtel Limited | 4.45% | 3.59% |
| Eternal Limited | 3.22% | 3.47% |
| TVS Motor Company Limited | 2.61% | 2.86% |
| Infosys Limited | 2.59% | 2.96% |
| Mahindra & Mahindra Limited | 2.53% | 3.01% |
| Divi's Laboratories Limited | 1.88% | 3.83% |
| InterGlobe Aviation Limited | 1.70% | 3.19% |
| Bajaj Finserv Limited | 2.60% | 1.67% |
| Trent Limited | 1.38% | 2.30% |
| Hindustan Aeronautics Limited | 1.30% | 1.96% |
| Hindustan Unilever Limited | 1.24% | 2.48% |
| NTPC Limited | 1.11% | 2.40% |
| Britannia Industries Limited | 0.96% | 1.52% |
| Eicher Motors Limited | 0.83% | 1.99% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 44.8% means 44.8% 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 Large Cap Fund
| Security | % of fund |
|---|---|
| Axis Bank Limited | 3.60% |
| Larsen & Toubro Limited | 3.47% |
| Kotak Mahindra Bank Ltd | 2.57% |
| HDFC Life Insurance Company Limited | 2.26% |
| Sun Pharmaceutical Industries Limited | 2.13% |
Largest holdings only in Nippon India Quant Fund
| Security | % of fund |
|---|---|
| Dixon Technologies (India) Limited | 3.46% |
| Bajaj Finance Limited | 3.11% |
| DLF Limited | 2.87% |
| Info Edge (India) Limited | 2.77% |
| Apollo Hospitals Enterprise Limited | 2.65% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Large Cap | Nippon India Quant |
|---|---|---|
| Equity | 94.0% | 92.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.0% | 7.6% |
Market cap of stocks
| Market cap | Mahindra Manulife Large Cap | Nippon India Quant |
|---|---|---|
| Large Cap | 85.5% | 76.5% |
| Mid Cap | 6.9% | 15.8% |
| Small Cap | 1.6% | 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 | Mahindra Manulife Large Cap | Nippon India Quant |
|---|---|---|
| Banks | 26.3% | 14.6% |
| Retailing | 6.6% | 10.9% |
| Automobiles | 8.2% | 9.7% |
| Finance | 4.0% | 9.4% |
| Pharmaceuticals & Biotechnology | 6.5% | 3.8% |
| IT - Software | 6.0% | 3.0% |
| Consumer Durables | 2.5% | 5.1% |
| Petroleum Products | 5.0% | 3.6% |
| Power | 3.8% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Mahindra Manulife Large Cap vs Nippon India Quant: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Large Cap Fund | Nippon India Quant Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | 0.84% |
| Base expense ratio (Direct) | 0.72% | 0.45% |
| Total expense ratio (Regular) | 2.60% | 1.27% |
| Base expense ratio (Regular) | 2.05% | 0.82% |
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 Large Cap with
Mahindra Manulife Large Cap Fund vs Nippon India Quant Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Large Cap Fund and Nippon India Quant Fund?
Mahindra Manulife Large Cap Fund is a Large Cap fund, Nippon India Quant Fund is a Thematic fund, run by Mahindra Manulife Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 44.8%. Mahindra Manulife Large Cap Fund charges 1.09% a year and Nippon India Quant Fund 0.84%.
Which has given higher returns, Mahindra Manulife Large Cap Fund or Nippon India Quant Fund?
Over 1 year: Mahindra Manulife Large Cap Fund −8.80%, Nippon India Quant Fund −5.85%. Over 3 years: Mahindra Manulife Large Cap Fund +9.23% a year, Nippon India Quant Fund +12.91% a year. Over 5 years: Mahindra Manulife Large Cap Fund +7.57% a year, Nippon India Quant Fund +11.97% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mahindra Manulife Large Cap Fund or Nippon India Quant Fund?
Nippon India Quant Fund charges less: 0.84% a year against 1.09%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Large Cap Fund and Nippon India Quant Fund overlap?
44.8%. They hold 17 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Mahindra Manulife Large Cap Fund or Nippon India Quant Fund?
On SEBI's riskometer, Mahindra Manulife Large Cap Fund is rated Very High and Nippon India Quant Fund Very High. Over 3 years, the standard deviation of daily returns was 12.91% and 14.95% a year.
Which is better for SIP, Mahindra Manulife Large Cap Fund or Nippon India Quant Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,18,522 in Mahindra Manulife Large Cap Fund (XIRR 6.4% a year) and ₹7,90,897 in Nippon India Quant Fund (XIRR 10.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mahindra Manulife Large Cap Fund and Nippon India Quant Fund?
Yes. 44.8% 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 Large Cap Fund and Nippon India Quant Fund?
Mahindra Manulife Large Cap Fund: $ Mr. Hemang Kapasi, $ Ms. Kirti Dalvii. Nippon India Quant Fund: Shirish Guthe.
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.