Mirae Asset Large & Midcap Fund vs Mirae Asset Multicap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Large & Midcap Fund is a Large & Mid Cap fund and Mirae Asset Multicap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, Mirae Asset Large & Midcap Fund (Direct) returned 11.4% a year and Mirae Asset Multicap Fund (Direct) returned 12.1% a year. Mirae Asset Large & Midcap Fund charges 0.87% a year and Mirae Asset Multicap Fund 0.89% (Direct plans). Their portfolios overlap 64.8%: they hold 50 of the same securities.
Mirae Asset Large & Midcap Fund
Large & Mid Cap
- 3 year return
- 11.4%
- Expense ratio
- 0.87%
- NAV
- ₹166.95
Mirae Asset Multicap Fund
Multi Cap
- 3 year return
- 12.1%
- Expense ratio
- 0.89%
- NAV
- ₹14.30
Which is better, Mirae Asset Large & Midcap or Mirae Asset Multicap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Multicap returned more over 3 years: 12.1% a year against 11.4%.
- Mirae Asset Large & Midcap returned more over 1 year: −5.8% against −6.8%.
- Mirae Asset Large & Midcap costs less: 0.87% a year against 0.89% (Direct plans).
- Mirae Asset Multicap swung less over 3 years: a standard deviation of 14.5% a year against 14.5%.
- Mirae Asset Multicap fell less in its worst fall since 22-08-2023: −18.2% against −19.5%.
- Mirae Asset Large & Midcap holds more in large companies: 49.4% of the fund in large caps against 35.8%.
- Mirae Asset Large & Midcap is the larger fund: ₹42,834 Cr against ₹5,379 Cr.
- Their portfolios overlap 64.8%: 50 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 | Mirae Asset Large & Midcap Fund | Mirae Asset Multicap Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Mirae Asset Mutual Fund |
| Category | Large & Mid Cap | Multi Cap |
| AUM | ₹42,834 Cr (30-09-2026) | ₹5,379 Cr (30-09-2026) |
| NAV | ₹166.95 (Direct) | ₹14.30 (Direct) |
| Expense ratio (Direct) | 0.87% | 0.89% |
| Expense ratio (Regular) | 1.77% | 2.27% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 09-07-2010 | 21-08-2023 |
| Minimum investment | Lumpsum purchase not allowed | ₹5,000 |
| Lock in | None | None |
| Fund managers | Neelesh Surana, Ankit Jain | Ankit Jain |
| Exit load | Exit load of 1% if redeemed within 1 year | Exit load of 1%, if redeemed within 365 days. |
Mirae Asset Large & Midcap vs Mirae Asset Multicap: 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Large & Midcap Fund (Direct) | −1.38% | −6.98% | −1.65% | −5.82% | +11.37% | +9.30% | +15.19% |
| Mirae Asset Multicap Fund (Direct) | −3.90% | −7.35% | −2.30% | −6.78% | +12.13% | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 36 Large & Mid Cap funds and the 33 Multi Cap funds, same plan type.
Mirae Asset Large & Midcap vs Mirae Asset Multicap: Year-wise Returns
| Year | Large & MidcapMirae Asset Large & Midcap | MulticapMirae Asset Multicap |
|---|---|---|
| 2026to date | −6.48% | −6.61% |
| 2025 | +10.22% | +9.84% |
| 2024 | +16.65% | +18.89% |
| 2023 | +30.59% | -- |
| 2022 | −0.47% | -- |
| 2021 | +40.57% | -- |
Mirae Asset Large & Midcap vs Mirae Asset Multicap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of Mirae Asset Large & Midcap Fund
Rolling returns
Every 3-year holding period, 45 of them, one for each trading day from 24-08-2026 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.
Mirae Asset Large & Midcap Fund (Direct)
Mirae Asset Multicap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Large & Midcap | 0.0 | 0.0 | 4.4 | 95.6 | 0.0 | 0.0 | 0.0 | 11.7% | 11.4% | 9.8% | 14.5% | 2% |
| Mirae Asset Multicap | 0.0 | 0.0 | 0.0 | 82.2 | 17.8 | 0.0 | 0.0 | 13.4% | 12.9% | 11.5% | 16.0% | 100% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 11.9% | 11.5% | 10.1% | 14.8% | -- |
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 NIFTY LargeMidcap 250 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 22-08-2023. Past returns do not promise future returns.
Mirae Asset Large & Midcap vs Mirae Asset Multicap: 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 01-08-2023 to 30-10-2026: 39 instalments, ₹3,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Large & MidcapMirae Asset Large & Midcap Fund (Direct) | ₹3,90,000 | ₹4,16,213 | ₹26,213 | 4.0% |
| Mirae Asset MulticapMirae Asset Multicap Fund (Direct) | ₹3,90,000 | ₹4,18,404 | ₹28,404 | 4.3% |
Mirae Asset Large & MidcapMirae Asset Large & Midcap Fund (Direct)
Mirae Asset MulticapMirae Asset Multicap 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.
Mirae Asset Large & Midcap vs Mirae Asset Multicap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Large & Midcap Fund (Direct) | Mirae Asset Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.82% | −6.78% |
| Standard deviation | 14.60% | 14.49% |
| Sharpe ratio | -0.76 | -0.83 |
| Sortino ratio | -1.01 | -1.09 |
| Maximum drawdown | −14.4% (31-03-2026) | −14.7% (30-03-2026) |
| Beta | 0.97 | 0.95 |
| Alpha | +0.26% | −1.31% |
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 | Mirae Asset Large & Midcap Fund (Direct) | Mirae Asset Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.37% | +12.13% |
| Standard deviation | 14.54% | 14.47% |
| Sharpe ratio | 0.37 | 0.42 |
| Sortino ratio | 0.49 | 0.57 |
| Maximum drawdown | −19.5% (28-02-2025) | −18.2% (28-02-2025) |
| Beta | 0.96 | 0.94 |
| Alpha | +0.04% | +1.19% |
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 | Mirae Asset Large & Midcap Fund (Direct) | Mirae Asset Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.57% | +11.69% |
| Standard deviation | 15.90% | 14.25% |
| Sharpe ratio | 0.85 | 0.39 |
| Sortino ratio | 1.15 | 0.53 |
| Maximum drawdown | −36.9% (23-03-2020) | −18.2% (28-02-2025) |
| Beta | -- | 0.94 |
| Alpha | -- | +1.16% |
From daily NAVs, 02-01-2013 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.
Mirae Asset Large & Midcap Fund (Direct)
Mirae Asset Multicap Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Large & Midcap Fund (Direct) | −19.5% | 27-09-2024 | 28-02-2025 | 20-10-2025 | 8 months | −8.2% |
| Mirae Asset Multicap Fund (Direct) | −18.2% | 27-09-2024 | 28-02-2025 | 26-06-2025 | 4 months | −9.1% |
| NIFTY LargeMidcap 250 TRI | −18.8% | 26-09-2024 | 28-02-2025 | 17-11-2025 | 9 months | −8.6% |
From daily values since 22-08-2023, 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.
Mirae Asset Large & Midcap Fund (Direct)
Mirae Asset Multicap Fund (Direct)
NIFTY LargeMidcap 250 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.
Mirae Asset Large & Midcap Fund (Direct)
Mirae Asset Multicap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Large & Midcap Fund (Direct) | 100% | 102% | 2.04% |
| Mirae Asset Multicap Fund (Direct) | 102% | 99% | 3.36% |
From month-end values since 22-08-2023. 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.
Mirae Asset Large & Midcap vs Mirae Asset Multicap: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Large & Midcap Fund, September 2026; Mirae Asset Multicap Fund, September 2026
Holdings in common
- Overlap
- 64.8%
- Held by both
- 50
- Only in Mirae Asset Large & Midcap
- 34
- Only in Mirae Asset Multicap
- 32
| Security | % of Mirae Asset Large & Midcap | % of Mirae Asset Multicap |
|---|---|---|
| HDFC Bank Ltd. | 6.40% | 5.51% |
| ICICI Bank Ltd. | 3.93% | 3.98% |
| Axis Bank Ltd. | 3.46% | 3.35% |
| Bharti Airtel Ltd. | 2.81% | 2.29% |
| Steel Authority of India Ltd. | 2.25% | 2.00% |
| Reliance Industries Ltd. | 2.92% | 1.99% |
| Delhivery Ltd. | 1.98% | 2.55% |
| Hero MotoCorp Ltd. | 2.05% | 1.96% |
| HDB Financial Services Ltd. | 1.96% | 1.90% |
| Dalmia Bharat Ltd. | 1.81% | 2.12% |
| Lupin Ltd. | 1.87% | 1.79% |
| Narayana Hrudayalaya Ltd. | 1.75% | 1.63% |
| Tata Communications Ltd. | 1.68% | 1.54% |
| Divi's Laboratories Ltd. | 1.52% | 1.56% |
| Larsen & Toubro Ltd. | 1.50% | 1.50% |
| Swiggy Ltd. | 1.46% | 1.93% |
| Persistent Systems Ltd. | 1.41% | 1.67% |
| Prestige Estates Projects Ltd. | 1.48% | 1.40% |
| IndusInd Bank Ltd. | 1.52% | 1.39% |
| Vedanta Aluminium Metal Ltd. | 1.36% | 1.84% |
| Maruti Suzuki India Ltd. | 1.34% | 1.24% |
| Dixon Technologies (India) Ltd. | 1.19% | 1.54% |
| CEAT Ltd. | 1.16% | 1.30% |
| Gland Pharma Ltd. | 1.15% | 1.99% |
| Tata Consultancy Services Ltd. | 1.18% | 1.14% |
| Tata Power Company Ltd. | 1.12% | 1.34% |
| Kotak Mahindra Bank Ltd. | 1.10% | 1.19% |
| Tata Steel Ltd. | 1.04% | 1.21% |
| Interglobe Aviation Ltd. | 1.47% | 1.02% |
| ITC Ltd. | 1.09% | 1.02% |
| GO Digit General Insurance Ltd. | 1.00% | 1.11% |
| Hindalco Industries Ltd. | 1.97% | 0.98% |
| SKF India (Industrial) Ltd. | 0.89% | 1.36% |
| Container Corporation of India Ltd. | 1.01% | 0.84% |
| PI Industries Ltd. | 0.99% | 0.80% |
| Sun Pharmaceutical Industries Ltd. | 1.26% | 0.76% |
| Kfin Technologies Ltd. | 0.71% | 1.20% |
| Bata India Ltd. | 0.71% | 0.94% |
| United Spirits Ltd. | 0.69% | 0.98% |
| Century Plyboards (India) Ltd. | 0.69% | 1.01% |
| Gujarat Energy Ltd. | 0.67% | 0.66% |
| Oil & Natural Gas Corporation Ltd. | 0.60% | 0.57% |
| Bharat Forge Ltd. | 1.04% | 0.53% |
| Multi Commodity Exchange of India Ltd. | 0.52% | 0.55% |
| SKF India Ltd. | 0.71% | 0.46% |
| Hindustan Aeronautics Ltd. | 0.40% | 0.97% |
| Apollo Hospitals Enterprise Ltd. | 0.43% | 0.31% |
| Tata Motors Passenger Vehicles Ltd. | 0.24% | 0.27% |
| GSPL Transmission Ltd. | 0.14% | 0.13% |
| State Bank of India | 2.98% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 64.8% means 64.8% 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 Mirae Asset Large & Midcap Fund
| Security | % of fund |
|---|---|
| Laurus Labs Ltd. | 4.10% |
| SBI Life Insurance Co. Ltd. | 2.03% |
| PB Fintech Ltd. | 1.42% |
| FSN E-Commerce Ventures Ltd. | 1.30% |
| Infosys Ltd. | 1.25% |
Largest holdings only in Mirae Asset Multicap Fund
| Security | % of fund |
|---|---|
| Elgi Equipments Ltd. | 1.81% |
| Milky Mist Dairy Food Ltd. | 1.50% |
| Sai Life Sciences Ltd. | 1.23% |
| Arvind Fashions Ltd. | 1.22% |
| Symbiotec Pharmalab Ltd | 1.20% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Large & Midcap | Mirae Asset Multicap |
|---|---|---|
| Equity | 98.6% | 99.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.4% | 0.5% |
Market cap of stocks
| Market cap | Mirae Asset Large & Midcap | Mirae Asset Multicap |
|---|---|---|
| Large Cap | 49.4% | 35.8% |
| Mid Cap | 37.2% | 25.7% |
| Small Cap | 11.3% | 34.3% |
| Not on AMFI's list | 0.8% | 3.7% |
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 | Mirae Asset Large & Midcap | Mirae Asset Multicap |
|---|---|---|
| Banks | 19.4% | 17.4% |
| Pharmaceuticals & Biotechnology | 9.9% | 8.5% |
| Consumer Durables | 3.6% | 6.6% |
| Automobiles | 4.8% | 3.5% |
| Industrial Products | 1.7% | 4.8% |
| Auto Components | 2.9% | 4.6% |
| Transport Services | 4.6% | 4.4% |
| Telecom - Services | 4.5% | 3.8% |
| Retailing | 4.5% | 3.1% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Large & Midcap vs Mirae Asset Multicap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Large & Midcap Fund | Mirae Asset Multicap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.87% | 0.89% |
| Base expense ratio (Direct) | 0.52% | 0.43% |
| Total expense ratio (Regular) | 1.77% | 2.27% |
| Base expense ratio (Regular) | 1.29% | 1.60% |
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 Mirae Asset Large & Midcap with
Mirae Asset Large & Midcap Fund vs Mirae Asset Multicap Fund: Frequently Asked Questions
What is the difference between Mirae Asset Large & Midcap Fund and Mirae Asset Multicap Fund?
Mirae Asset Large & Midcap Fund is a Large & Mid Cap fund, Mirae Asset Multicap Fund is a Multi Cap fund, run by Mirae Asset Mutual Fund. Their portfolios overlap 64.8%. Mirae Asset Large & Midcap Fund charges 0.87% a year and Mirae Asset Multicap Fund 0.89%.
Which has given higher returns, Mirae Asset Large & Midcap Fund or Mirae Asset Multicap Fund?
Over 1 year: Mirae Asset Large & Midcap Fund −5.82%, Mirae Asset Multicap Fund −6.78%. Over 3 years: Mirae Asset Large & Midcap Fund +11.37% a year, Mirae Asset Multicap Fund +12.13% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Large & Midcap Fund or Mirae Asset Multicap Fund?
Mirae Asset Large & Midcap Fund charges less: 0.87% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Large & Midcap Fund and Mirae Asset Multicap Fund overlap?
64.8%. They hold 50 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Large & Midcap Fund or Mirae Asset Multicap Fund?
On SEBI's riskometer, Mirae Asset Large & Midcap Fund is rated Very High and Mirae Asset Multicap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.54% and 14.47% a year.
Which is better for SIP, Mirae Asset Large & Midcap Fund or Mirae Asset Multicap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,88,939 in Mirae Asset Large & Midcap Fund (XIRR 3.2% a year) and ₹3,90,261 in Mirae Asset Multicap Fund (XIRR 3.4% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Large & Midcap Fund and Mirae Asset Multicap Fund?
Yes. 64.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Mirae Asset Large & Midcap Fund and Mirae Asset Multicap Fund?
Mirae Asset Large & Midcap Fund: Neelesh Surana, Ankit Jain. Mirae Asset Multicap Fund: Ankit Jain.
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.