Nippon India Flexi Cap Fund vs Nippon India Large Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Flexi Cap Fund is a Flexi Cap fund and Nippon India Large Cap Fund is a Large Cap fund. In the 3 years to 30-10-2026, Nippon India Flexi Cap Fund (Direct) returned 9.1% a year and Nippon India Large Cap Fund (Direct) returned 11.0% a year. Nippon India Flexi Cap Fund charges 0.66% a year and Nippon India Large Cap Fund 0.86% (Direct plans). Their portfolios overlap 54.5%: they hold 38 of the same securities.
Nippon India Flexi Cap Fund
Flexi Cap
- 3 year return
- 9.1%
- Expense ratio
- 0.66%
- NAV
- ₹16.77
Nippon India Large Cap Fund
Large Cap
- 3 year return
- 11.0%
- Expense ratio
- 0.86%
- NAV
- ₹96.04
Which is better, Nippon India Flexi Cap or Nippon India Large Cap? 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 Large Cap returned more over 5 years: 12.0% a year against 9.4%.
- Nippon India Large Cap returned more over 3 years: 11.0% a year against 9.1%.
- Nippon India Flexi Cap costs less: 0.66% a year against 0.86% (Direct plans).
- Nippon India Large Cap swung less over 3 years: a standard deviation of 13.5% a year against 14.5%.
- Nippon India Large Cap fell less in its worst fall since 18-08-2021: −15.4% against −19.8%.
- Nippon India Large Cap holds more in large companies: 81.3% of the fund in large caps against 62.9%.
- Nippon India Large Cap is the larger fund: ₹51,296 Cr against ₹9,214 Cr.
- Their portfolios overlap 54.5%: 38 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 | Nippon India Flexi Cap Fund | Nippon India Large Cap Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | Nippon India Mutual Fund |
| Category | Flexi Cap | Large Cap |
| AUM | ₹9,214 Cr (30-09-2026) | ₹51,296 Cr (30-09-2026) |
| NAV | ₹16.77 (Direct) | ₹96.04 (Direct) |
| Expense ratio (Direct) | 0.66% | 0.86% |
| Expense ratio (Regular) | 1.85% | 1.61% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE 100 TRI |
| Launch date | 13-08-2021 | 08-08-2007 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | None | None |
| Fund managers | Meenakshi Dawar, Dhrumil Shah | Sailesh Raj Bhan, Bhavik Dave |
| Exit load | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days | Exit load of 1% if redeemed within 7 days. |
Nippon India Flexi Cap vs Nippon India Large 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Flexi Cap Fund (Direct) | −2.31% | −6.36% | −2.62% | −7.62% | +9.10% | +9.40% | -- |
| Nippon India Large Cap Fund (Direct) | +0.44% | −5.43% | −3.53% | −8.74% | +11.01% | +11.98% | +13.73% |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
Category average: the average of the 46 Flexi Cap funds and the 35 Large Cap funds, same plan type.
Nippon India Flexi Cap vs Nippon India Large Cap: Year-wise Returns
| Year | FlexiNippon India Flexi Cap | LargeNippon India Large Cap |
|---|---|---|
| 2026to date | −6.70% | −8.83% |
| 2025 | +3.90% | +10.08% |
| 2024 | +16.94% | +19.30% |
| 2023 | +34.89% | +33.23% |
| 2022 | +0.74% | +12.30% |
| 2021 | -- | +33.42% |
Nippon India Flexi Cap vs Nippon India Large Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Nippon India Flexi Cap Fund
Rolling returns
Every 3-year holding period, 543 of them, one for each trading day from 19-08-2024 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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Large Cap Fund (Direct)
Nifty 500 TRI
to
Oct 2024Mar 2022
to
Mar 2025Jul 2022
to
Jul 2025Dec 2022
to
Dec 2025Apr 2023
to
Apr 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nippon India Flexi Cap | 0.0 | 0.0 | 4.6 | 28.9 | 55.1 | 11.4 | 0.0 | 16.2% | 16.7% | 8.4% | 22.7% | 87% |
| Nippon India Large Cap | 0.0 | 0.0 | 2.9 | 15.3 | 33.3 | 43.6 | 4.8 | 19.1% | 19.9% | 9.1% | 27.2% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.5 | 34.8 | 55.8 | 5.9 | 0.0 | 15.5% | 15.6% | 8.8% | 22.3% | -- |
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 18-08-2021. Past returns do not promise future returns.
Nippon India Flexi Cap vs Nippon India Large 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 18-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Flexi CapNippon India Flexi Cap Fund (Direct) | ₹6,30,000 | ₹7,74,762 | ₹1,44,762 | 7.8% |
| Nippon India Large CapNippon India Large Cap Fund (Direct) | ₹6,30,000 | ₹8,14,279 | ₹1,84,279 | 9.7% |
Nippon India Flexi CapNippon India Flexi Cap Fund (Direct)
Nippon India Large CapNippon India Large 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.
Nippon India Flexi Cap vs Nippon India Large Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India Flexi Cap Fund (Direct) | Nippon India Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.62% | −8.74% |
| Standard deviation | 15.01% | 13.74% |
| Sharpe ratio | -0.86 | -1.02 |
| Sortino ratio | -1.14 | -1.35 |
| Maximum drawdown | −15.0% (30-03-2026) | −13.8% (31-03-2026) |
| Beta | 1.03 | 0.98 |
| Alpha | +0.10% | −0.13% |
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 | Nippon India Flexi Cap Fund (Direct) | Nippon India Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.10% | +11.01% |
| Standard deviation | 14.53% | 13.49% |
| Sharpe ratio | 0.21 | 0.37 |
| Sortino ratio | 0.28 | 0.50 |
| Maximum drawdown | −19.8% (28-02-2025) | −15.4% (28-02-2025) |
| Beta | 1.00 | 0.98 |
| Alpha | −1.13% | +2.10% |
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 | Nippon India Flexi Cap Fund (Direct) | Nippon India Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.40% | +11.98% |
| Standard deviation | 14.70% | 13.92% |
| Sharpe ratio | 0.25 | 0.44 |
| Sortino ratio | 0.33 | 0.61 |
| Maximum drawdown | −19.8% (28-02-2025) | −15.4% (28-02-2025) |
| Beta | 1.00 | 0.98 |
| Alpha | +0.58% | +4.22% |
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 | Nippon India Flexi Cap Fund (Direct) | Nippon India Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.27% | +14.54% |
| Standard deviation | 14.60% | 16.37% |
| Sharpe ratio | 0.31 | 0.52 |
| Sortino ratio | 0.42 | 0.71 |
| Maximum drawdown | −19.8% (28-02-2025) | −40.0% (23-03-2020) |
| Beta | 1.00 | 0.99 |
| Alpha | +0.33% | +2.50% |
From daily NAVs, 18-08-2021 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.
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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Large 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 |
|---|---|---|---|---|---|---|
| Nippon India Flexi Cap Fund (Direct) | −19.8% | 23-09-2024 | 28-02-2025 | Not yet | -- | −10.6% |
| Nippon India Large Cap Fund (Direct) | −15.4% | 27-09-2024 | 28-02-2025 | 21-08-2025 | 6 months | −9.5% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 18-08-2021, 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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Large Cap Fund (Direct)
Nifty 500 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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Large Cap Fund (Direct)
Nifty 500 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.
Nippon India Flexi Cap Fund (Direct)
Nippon India Large Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India Flexi Cap Fund (Direct) | 98% | 93% | 3.48% |
| Nippon India Large Cap Fund (Direct) | 100% | 81% | 3.18% |
From month-end values since 18-08-2021. 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.
Nippon India Flexi Cap vs Nippon India Large Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Flexi Cap Fund, September 2026; Nippon India Large Cap Fund, September 2026
Holdings in common
- Overlap
- 54.5%
- Held by both
- 38
- Only in Nippon India Flexi Cap
- 47
- Only in Nippon India Large Cap
- 31
| Security | % of Nippon India Flexi Cap | % of Nippon India Large Cap |
|---|---|---|
| ICICI Bank Limited | 7.07% | 6.09% |
| HDFC Bank Limited | 5.84% | 9.61% |
| Axis Bank Limited | 3.91% | 5.26% |
| Reliance Industries Limited | 3.39% | 3.92% |
| Larsen & Toubro Limited | 2.64% | 3.63% |
| Mahindra & Mahindra Limited | 2.36% | 2.49% |
| Samvardhana Motherson International Limited | 2.28% | 2.02% |
| State Bank of India | 1.99% | 2.82% |
| Bajaj Finance Limited | 1.94% | 3.09% |
| Eternal Limited | 2.21% | 1.88% |
| NTPC Limited | 1.59% | 1.89% |
| Infosys Limited | 1.35% | 3.36% |
| Kotak Mahindra Bank Limited | 1.19% | 2.03% |
| Avenue Supermarts Limited | 1.15% | 2.46% |
| Swiggy Limited | 1.26% | 1.11% |
| Trent Limited | 1.06% | 1.25% |
| Mankind Pharma Limited | 1.87% | 1.04% |
| Maruti Suzuki India Limited | 1.35% | 0.93% |
| Godrej Consumer Products Limited | 0.93% | 0.88% |
| Tech Mahindra Limited | 1.13% | 0.86% |
| Cholamandalam Investment and Finance Company Ltd | 0.85% | 0.90% |
| Dixon Technologies (India) Limited | 0.83% | 0.77% |
| Sun Pharmaceutical Industries Limited | 0.76% | 2.18% |
| Dr. Reddy's Laboratories Limited | 0.74% | 0.96% |
| Lupin Limited | 0.72% | 0.78% |
| Jubilant Foodworks Limited | 0.70% | 0.76% |
| Hindustan Aeronautics Limited | 1.62% | 0.69% |
| NTPC Green Energy Limited | 0.84% | 0.69% |
| Vishal Mega Mart Limited | 0.74% | 0.69% |
| Siemens Energy India Limited | 1.50% | 0.65% |
| Vedanta Aluminium Metal Limited | 1.30% | 0.64% |
| Siemens Limited | 0.60% | 0.71% |
| Meesho Ltd | 0.54% | 0.96% |
| Bharti Airtel Limited | 1.90% | 0.51% |
| Varun Beverages Limited | 1.15% | 0.50% |
| PB Fintech Limited | 0.73% | 0.47% |
| SBI Life Insurance Company Limited | 0.41% | 1.11% |
| Devyani International Limited | 0.92% | 0.40% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 54.5% means 54.5% 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 Nippon India Flexi Cap Fund
| Security | % of fund |
|---|---|
| Kirloskar Oil Engines Limited | 1.98% |
| Radico Khaitan Limited | 1.90% |
| Jindal Steel Limited | 1.67% |
| Bharat Heavy Electricals Limited | 1.58% |
| InterGlobe Aviation Limited | 1.56% |
Largest holdings only in Nippon India Large Cap Fund
| Security | % of fund |
|---|---|
| Tata Consultancy Services Limited | 3.12% |
| Hindustan Unilever Limited | 2.74% |
| ITC Limited | 2.56% |
| GE Vernova T&D India Limited | 1.54% |
| Divi's Laboratories Limited | 1.45% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Flexi Cap | Nippon India Large Cap |
|---|---|---|
| Equity | 99.0% | 99.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 0.3% |
Market cap of stocks
| Market cap | Nippon India Flexi Cap | Nippon India Large Cap |
|---|---|---|
| Large Cap | 62.9% | 81.3% |
| Mid Cap | 21.4% | 14.7% |
| Small Cap | 14.6% | 3.3% |
| Not on AMFI's list | 0.1% | 0.4% |
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 | Nippon India Flexi Cap | Nippon India Large Cap |
|---|---|---|
| Banks | 21.0% | 26.1% |
| Retailing | 8.2% | 8.3% |
| IT - Software | 5.5% | 8.3% |
| Pharmaceuticals & Biotechnology | 5.5% | 7.5% |
| Diversified FMCG | 0.0% | 5.3% |
| Finance | 4.2% | 4.5% |
| Petroleum Products | 4.4% | 3.9% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Flexi Cap vs Nippon India Large Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Flexi Cap Fund | Nippon India Large Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.66% | 0.86% |
| Base expense ratio (Direct) | 0.48% | 0.59% |
| Total expense ratio (Regular) | 1.85% | 1.61% |
| Base expense ratio (Regular) | 1.52% | 1.23% |
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 Nippon India Flexi Cap with
Nippon India Flexi Cap Fund vs Nippon India Large Cap Fund: Frequently Asked Questions
What is the difference between Nippon India Flexi Cap Fund and Nippon India Large Cap Fund?
Nippon India Flexi Cap Fund is a Flexi Cap fund, Nippon India Large Cap Fund is a Large Cap fund, run by Nippon India Mutual Fund. Their portfolios overlap 54.5%. Nippon India Flexi Cap Fund charges 0.66% a year and Nippon India Large Cap Fund 0.86%.
Which has given higher returns, Nippon India Flexi Cap Fund or Nippon India Large Cap Fund?
Over 1 year: Nippon India Flexi Cap Fund −7.62%, Nippon India Large Cap Fund −8.74%. Over 3 years: Nippon India Flexi Cap Fund +9.10% a year, Nippon India Large Cap Fund +11.01% a year. Over 5 years: Nippon India Flexi Cap Fund +9.40% a year, Nippon India Large Cap Fund +11.98% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India Flexi Cap Fund or Nippon India Large Cap Fund?
Nippon India Flexi Cap Fund charges less: 0.66% a year against 0.86%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Flexi Cap Fund and Nippon India Large Cap Fund overlap?
54.5%. They hold 38 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Nippon India Flexi Cap Fund or Nippon India Large Cap Fund?
On SEBI's riskometer, Nippon India Flexi Cap Fund is rated Very High and Nippon India Large Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.53% and 13.49% a year.
Which is better for SIP, Nippon India Flexi Cap Fund or Nippon India Large Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,41,931 in Nippon India Flexi Cap Fund (XIRR 7.6% a year) and ₹7,76,189 in Nippon India Large Cap Fund (XIRR 9.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India Flexi Cap Fund and Nippon India Large Cap Fund?
Yes. 54.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Nippon India Flexi Cap Fund and Nippon India Large Cap Fund?
Nippon India Flexi Cap Fund: Meenakshi Dawar, Dhrumil Shah. Nippon India Large Cap Fund: Sailesh Raj Bhan, Bhavik Dave.
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.