Mahindra Manulife Value Fund vs Tata Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Value Fund is a Value and Contra fund and Tata Flexi Cap Fund is a Flexi Cap fund. In the year to 30-10-2026, Mahindra Manulife Value Fund (Direct) returned −0.6% and Tata Flexi Cap Fund (Direct) returned −10.2%. Mahindra Manulife Value Fund charges 1.06% a year and Tata Flexi Cap Fund 0.89% (Direct plans). Their portfolios overlap 31.5%: they hold 20 of the same securities.
Mahindra Manulife Value Fund
Value and Contra
- 1 year return
- −0.6%
- Expense ratio
- 1.06%
- NAV
- ₹11.85
Which is better, Mahindra Manulife Value or Tata Flexi Cap? 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 Value returned more over 1 year: −0.6% against −10.2%.
- Tata Flexi Cap costs less: 0.89% a year against 1.06% (Direct plans).
- Mahindra Manulife Value fell less in its worst fall since 05-03-2025: −11.5% against −14.1%.
- Tata Flexi Cap holds more in large companies: 58.8% of the fund in large caps against 48.4%.
- Tata Flexi Cap is the larger fund: ₹3,454 Cr against ₹1,015 Cr.
- Their portfolios overlap 31.5%: 20 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 Value Fund | Tata Flexi Cap Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | Tata Mutual Fund |
| Category | Value and Contra | Flexi Cap |
| AUM | ₹1,015 Cr (30-09-2026) | ₹3,454 Cr (30-09-2026) |
| NAV | ₹11.85 (Direct) | ₹25.03 (Direct) |
| Expense ratio (Direct) | 1.06% | 0.89% |
| Expense ratio (Regular) | 2.58% | 2.13% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 03-03-2025 | 06-09-2018 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Krishna Sanghavi, Vishal Jajoo | Anand Sharma, Aditya Bagul |
| Exit load | Exit load: An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; • Nil if Units are redeemed / switched-out after 3 months from the date of allotment Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). | Redemption/Switch-out/SWP/STP: 1. On or before 30 days from the date of allotment: 0.50%. 2. After 30 days from the date of allotment: NIL. |
Mahindra Manulife Value vs Tata Flexi Cap: 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 Value Fund (Direct) | −4.44% | −7.82% | −4.27% | −0.61% | -- | -- | -- |
| Tata Flexi Cap Fund (Direct) | −1.02% | −6.54% | −4.90% | −10.21% | +9.08% | +7.88% | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
Category average: the average of the 30 Value and Contra funds and the 46 Flexi Cap funds, same plan type.
Mahindra Manulife Value vs Tata Flexi Cap: Year-wise Returns
| Year | Mahindra Manulife ValueMahindra Manulife Value | Tata Flexi CapTata Flexi Cap | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −2.71% | −10.28% | −7.51% |
| 2025 | -- | +12.01% | +7.76% |
| 2024 | -- | +14.03% | +16.24% |
| 2023 | -- | +29.48% | +26.91% |
| 2022 | -- | −2.15% | +4.25% |
| 2021 | -- | +28.33% | +31.60% |
Mahindra Manulife Value vs Tata Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 162 of them, one for each trading day from 05-03-2026 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 Value Fund (Direct)
Tata Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 Value | 3.1 | 3.1 | 26.5 | 39.5 | 27.8 | 0.0 | 0.0 | 11.6% | 11.1% | −1.3% | 19.0% | 100% |
| Tata Flexi Cap | 64.6 | 25.5 | 7.5 | 2.5 | 0.0 | 0.0 | 0.0 | −0.9% | −1.3% | −11.4% | 13.3% | 11% |
| Nifty 500 TRI | 37.0 | 40.7 | 19.8 | 2.5 | 0.0 | 0.0 | 0.0 | 1.4% | 1.1% | −9.0% | 13.1% | -- |
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 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 05-03-2025. Past returns do not promise future returns.
Mahindra Manulife Value vs Tata Flexi Cap: 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 05-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mahindra Manulife ValueMahindra Manulife Value Fund (Direct) | ₹2,00,000 | ₹2,02,173 | ₹2,173 | 1.2% |
| Tata Flexi CapTata Flexi Cap Fund (Direct) | ₹2,00,000 | ₹1,90,494 | −₹9,506 | −5.5% |
Mahindra Manulife ValueMahindra Manulife Value Fund (Direct)
Tata Flexi CapTata Flexi Cap 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 Value vs Tata Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Value Fund (Direct) | Tata Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.61% | −10.21% |
| Standard deviation | 15.42% | 13.19% |
| Sharpe ratio | -0.38 | -1.17 |
| Sortino ratio | -0.50 | -1.54 |
| Maximum drawdown | −11.5% (31-03-2026) | −14.1% (31-03-2026) |
| Beta | 1.03 | 0.90 |
| Alpha | +7.06% | −4.10% |
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 Value Fund (Direct) | Tata Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.22% | +11.95% |
| Standard deviation | 14.56% | 15.24% |
| Sharpe ratio | 0.33 | 0.44 |
| Sortino ratio | 0.45 | 0.59 |
| Maximum drawdown | −11.5% (31-03-2026) | −33.5% (23-03-2020) |
| Beta | 1.00 | 0.87 |
| Alpha | +4.35% | +1.17% |
From daily NAVs, 05-03-2025 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.
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 Value Fund (Direct)
Tata Flexi Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Value Fund (Direct) | −11.5% | 11-02-2026 | 31-03-2026 | 22-04-2026 | 22 days | −10.1% |
| Tata Flexi Cap Fund (Direct) | −14.1% | 02-01-2026 | 31-03-2026 | Not yet | -- | −11.0% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 05-03-2025, 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 Value Fund (Direct)
Tata Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mahindra Manulife Value Fund (Direct) | 117% | 91% | 4.60% |
| Tata Flexi Cap Fund (Direct) | 86% | 93% | 2.60% |
From month-end values since 05-03-2025. 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 Value vs Tata Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Value Fund, September 2026; Tata Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 31.5%
- Held by both
- 20
- Only in Mahindra Manulife Value
- 48
- Only in Tata Flexi Cap
- 49
| Security | % of Mahindra Manulife Value | % of Tata Flexi Cap |
|---|---|---|
| Reliance Industries Limited | 4.09% | 4.23% |
| HDFC Bank Limited | 3.62% | 6.28% |
| Axis Bank Limited | 3.62% | 3.87% |
| ICICI Bank Limited | 3.58% | 6.13% |
| IndusInd Bank Limited | 2.01% | 1.66% |
| Life Insurance Corporation Of India | 2.73% | 1.51% |
| Ambuja Cements Limited | 1.96% | 1.49% |
| Indus Towers Limited | 1.86% | 1.41% |
| Sun Pharmaceutical Industries Limited | 1.49% | 1.31% |
| Maruti Suzuki India Limited | 1.13% | 2.28% |
| The Ramco Cements Limited | 1.12% | 1.31% |
| Tata Consultancy Services Limited | 1.11% | 1.41% |
| NMDC Limited | 1.18% | 1.05% |
| Infosys Limited | 0.99% | 1.38% |
| HDFC Life Insurance Company Limited | 0.90% | 1.62% |
| Adani Enterprises Limited | 2.40% | 0.84% |
| Biocon Limited | 1.20% | 0.69% |
| CESC Limited | 0.56% | 0.66% |
| Gokaldas Exports Limited | 0.44% | 0.42% |
| SPR Auto Technologies Ltd | 1.05% | 0.39% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 31.5% means 31.5% 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 Value Fund
| Security | % of fund |
|---|---|
| Jindal Saw Ltd | 2.37% |
| Oil India Limited | 2.25% |
| Vodafone Idea Limited | 2.21% |
| Bandhan Bank Limited | 2.12% |
| JSW Energy Limited | 2.07% |
Largest holdings only in Tata Flexi Cap Fund
| Security | % of fund |
|---|---|
| BHARTI AIRTEL LTD | 3.79% |
| LARSEN & TOUBRO LTD | 2.62% |
| NTPC LTD | 2.46% |
| SBI LIFE INSURANCE COMPANY LTD | 2.04% |
| KOTAK MAHINDRA BANK LTD | 1.83% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Value | Tata Flexi Cap |
|---|---|---|
| Equity | 98.4% | 94.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.6% | 5.2% |
Market cap of stocks
| Market cap | Mahindra Manulife Value | Tata Flexi Cap |
|---|---|---|
| Large Cap | 48.4% | 58.8% |
| Mid Cap | 21.6% | 15.5% |
| Small Cap | 27.5% | 18.2% |
| Not on AMFI's list | 0.9% | 2.3% |
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 Value | Tata Flexi Cap |
|---|---|---|
| Banks | 19.8% | 21.3% |
| Pharmaceuticals & Biotechnology | 8.4% | 4.2% |
| Industrial Products | 7.1% | 2.0% |
| Insurance | 3.6% | 6.0% |
| Consumer Durables | 0.9% | 5.2% |
| Petroleum Products | 4.1% | 5.2% |
| Telecom - Services | 4.1% | 5.2% |
| Power | 5.0% | 3.1% |
| Cement & Cement Products | 4.7% | 3.6% |
| Auto Components | 4.6% | 2.5% |
The six largest sectors of each fund's stocks, % of the fund.
Mahindra Manulife Value vs Tata Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Value Fund | Tata Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.06% | 0.89% |
| Base expense ratio (Direct) | 0.59% | 0.59% |
| Total expense ratio (Regular) | 2.58% | 2.13% |
| Base expense ratio (Regular) | 1.93% | 1.65% |
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 Value with
Mahindra Manulife Value Fund vs Tata Flexi Cap Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Value Fund and Tata Flexi Cap Fund?
Mahindra Manulife Value Fund is a Value and Contra fund, Tata Flexi Cap Fund is a Flexi Cap fund, run by Mahindra Manulife Mutual Fund and Tata Mutual Fund. Their portfolios overlap 31.5%. Mahindra Manulife Value Fund charges 1.06% a year and Tata Flexi Cap Fund 0.89%.
Which has given higher returns, Mahindra Manulife Value Fund or Tata Flexi Cap Fund?
Over 1 year: Mahindra Manulife Value Fund −0.61%, Tata Flexi Cap Fund −10.21%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mahindra Manulife Value Fund or Tata Flexi Cap Fund?
Tata Flexi Cap Fund charges less: 0.89% a year against 1.06%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Value Fund and Tata Flexi Cap Fund overlap?
31.5%. They hold 20 of the same securities, the largest shared ones being RELIANCE, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Mahindra Manulife Value Fund or Tata Flexi Cap Fund?
On SEBI's riskometer, Mahindra Manulife Value Fund is rated Very High and Tata Flexi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 15.42% and 13.19% a year.
Can I invest in both Mahindra Manulife Value Fund and Tata Flexi Cap Fund?
Yes. 31.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Mahindra Manulife Value Fund and Tata Flexi Cap Fund?
Mahindra Manulife Value Fund: Krishna Sanghavi, Vishal Jajoo. Tata Flexi Cap Fund: Anand Sharma, Aditya Bagul.
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.