Nippon India Multi Cap Fund vs SBI Large & Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Multi Cap Fund is a Multi Cap fund and SBI Large & Midcap Fund is a Large & Mid Cap fund. In the 3 years to 30-10-2026, Nippon India Multi Cap Fund (Direct) returned 11.9% a year and SBI Large & Midcap Fund (Direct) returned 12.1% a year. Nippon India Multi Cap Fund charges 0.89% a year and SBI Large & Midcap Fund 0.86% (Direct plans). Their portfolios overlap 34.1%: they hold 35 of the same securities.
Nippon India Multi Cap Fund
Multi Cap
- 3 year return
- 11.9%
- Expense ratio
- 0.89%
- NAV
- ₹309.72
SBI Large & Midcap Fund
Large & Mid Cap
- 3 year return
- 12.1%
- Expense ratio
- 0.86%
- NAV
- ₹660.32
Which is better, Nippon India Multi Cap or SBI Large & Midcap? 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 Multi Cap returned more over 5 years: 14.9% a year against 11.6%.
- SBI Large & Midcap returned more over 3 years: 12.1% a year against 11.9%.
- SBI Large & Midcap costs less: 0.86% a year against 0.89% (Direct plans).
- SBI Large & Midcap swung less over 3 years: a standard deviation of 12.9% a year against 14.3%.
- SBI Large & Midcap fell less in its worst fall since 02-01-2013: −36.4% against −42.8%.
- Nippon India Multi Cap is the larger fund: ₹53,767 Cr against ₹40,499 Cr.
- Their portfolios overlap 34.1%: 35 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 Multi Cap Fund | SBI Large & Midcap Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | SBI Mutual Fund |
| Category | Multi Cap | Large & Mid Cap |
| AUM | ₹53,767 Cr (30-09-2026) | ₹40,499 Cr (30-09-2026) |
| NAV | ₹309.72 (Direct) | ₹660.32 (Direct) |
| Expense ratio (Direct) | 0.89% | 0.86% |
| Expense ratio (Regular) | 1.62% | 1.65% |
| Riskometer | Very High | Not available |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | Not available |
| Launch date | 28-03-2005 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Sailesh Raj Bhan, Yatin Matta | Not available |
| Exit load | For units more than 10% of the investments, an exit load of 1% if redeemed within 12 months. | Not available |
Nippon India Multi Cap vs SBI Large & Midcap: 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 Multi Cap Fund (Direct) | −3.06% | −7.39% | −5.16% | −8.14% | +11.87% | +14.92% | +14.86% |
| SBI Large & Midcap Fund (Direct) | −2.33% | −8.03% | −3.88% | −5.40% | +12.07% | +11.58% | +13.85% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | +12.56% | +14.55% |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
Category average: the average of the 33 Multi Cap funds and the 36 Large & Mid Cap funds, same plan type.
Nippon India Multi Cap vs SBI Large & Midcap: Year-wise Returns
| Year | Nippon India Multi CapNippon India Multi Cap | SBI Large & MidcapSBI Large & Midcap |
|---|---|---|
| 2026to date | −6.44% | −6.79% |
| 2025 | +4.88% | +11.00% |
| 2024 | +26.85% | +19.12% |
| 2023 | +39.15% | +27.91% |
| 2022 | +14.97% | +8.13% |
| 2021 | +49.87% | +40.40% |
Nippon India Multi Cap vs SBI Large & Midcap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Nippon India Multi Cap Fund
Rolling returns
Every 3-year holding period, 2,666 of them, one for each trading day from 04-01-2016 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 Multi Cap Fund (Direct)
SBI Large & Midcap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
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 Multi Cap | 6.6 | 2.2 | 14.2 | 20.5 | 18.4 | 17.1 | 21.0 | 17.3% | 16.9% | −8.9% | 42.6% | 100% |
| SBI Large & Midcap | 1.9 | 4.7 | 6.3 | 20.7 | 30.1 | 26.7 | 9.6 | 17.2% | 17.9% | −4.7% | 36.1% | 53% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 12.7 | 49.4 | 36.3 | 1.5 | 19.0% | 18.9% | 10.1% | 26.3% | -- |
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 Nifty500 Multicap 50:25:25 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 02-01-2013. Past returns do not promise future returns.
Nippon India Multi Cap vs SBI Large & Midcap: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Multi CapNippon India Multi Cap Fund (Direct) | ₹16,60,000 | ₹52,34,670 | ₹35,74,670 | 15.3% |
| SBI Large & MidcapSBI Large & Midcap Fund (Direct) | ₹16,60,000 | ₹50,59,622 | ₹33,99,622 | 14.9% |
Nippon India Multi CapNippon India Multi Cap Fund (Direct)
SBI Large & MidcapSBI Large & Midcap 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 Multi Cap vs SBI Large & Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India Multi Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.14% | −5.40% |
| Standard deviation | 14.29% | 13.45% |
| Sharpe ratio | -0.94 | -0.79 |
| Sortino ratio | -1.24 | -1.06 |
| Maximum drawdown | −13.1% (31-03-2026) | −12.5% (31-03-2026) |
| Beta | 0.94 | 0.88 |
| Alpha | −2.81% | −0.19% |
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 Multi Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.87% | +12.07% |
| Standard deviation | 14.32% | 12.86% |
| Sharpe ratio | 0.41 | 0.47 |
| Sortino ratio | 0.55 | 0.64 |
| Maximum drawdown | −18.6% (03-03-2025) | −14.2% (03-03-2025) |
| Beta | 0.93 | 0.84 |
| Alpha | +0.99% | +1.23% |
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 Multi Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.92% | +11.58% |
| Standard deviation | 14.54% | 12.87% |
| Sharpe ratio | 0.63 | 0.45 |
| Sortino ratio | 0.84 | 0.60 |
| Maximum drawdown | −18.6% (03-03-2025) | −16.4% (20-06-2022) |
| Beta | 0.94 | 0.84 |
| Alpha | +4.68% | +1.68% |
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 Multi Cap Fund (Direct) | SBI Large & Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.98% | +15.59% |
| Standard deviation | 16.54% | 14.85% |
| Sharpe ratio | 0.54 | 0.64 |
| Sortino ratio | 0.73 | 0.86 |
| Maximum drawdown | −42.8% (23-03-2020) | −36.4% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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.
Nippon India Multi Cap Fund (Direct)
SBI Large & Midcap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Nippon India Multi Cap Fund (Direct) | −42.8% | 27-05-2019 | 23-03-2020 | 12-01-2021 | 10 months | −9.2% |
| SBI Large & Midcap Fund (Direct) | −36.4% | 20-02-2020 | 23-03-2020 | 24-11-2020 | 8 months | −9.7% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 02-01-2013, 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 Multi Cap Fund (Direct)
SBI Large & Midcap Fund (Direct)
Nifty500 Multicap 50:25:25 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 Multi Cap Fund (Direct)
SBI Large & Midcap Fund (Direct)
Nifty500 Multicap 50:25:25 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 Multi Cap Fund (Direct)
SBI Large & Midcap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India Multi Cap Fund (Direct) | 104% | 76% | 5.44% |
| SBI Large & Midcap Fund (Direct) | 88% | 72% | 4.57% |
From month-end values since 02-01-2013. 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 Multi Cap vs SBI Large & Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Multi Cap Fund, September 2026; SBI Large & Midcap Fund, September 2026
Holdings in common
- Overlap
- 34.1%
- Held by both
- 35
- Only in Nippon India Multi Cap
- 85
- Only in SBI Large & Midcap
- 51
| Security | % of Nippon India Multi Cap | % of SBI Large & Midcap |
|---|---|---|
| HDFC Bank Limited | 7.06% | 6.65% |
| Axis Bank Limited | 5.07% | 3.33% |
| ICICI Bank Limited | 2.97% | 3.79% |
| Swiggy Limited | 1.63% | 2.35% |
| Jubilant Foodworks Limited | 1.49% | 1.24% |
| FSN E-Commerce Ventures Limited | 1.19% | 1.42% |
| Divi's Laboratories Limited | 1.15% | 1.90% |
| Page Industries Limited | 0.95% | 1.09% |
| Balkrishna Industries Limited | 0.92% | 2.46% |
| State Bank of India | 1.23% | 0.91% |
| Colgate Palmolive (India) Limited | 0.90% | 1.81% |
| Infosys Limited | 3.06% | 0.86% |
| Samvardhana Motherson International Limited | 1.70% | 0.81% |
| Abbott India Limited | 0.74% | 2.06% |
| Westlife Foodworld Limited | 0.72% | 1.02% |
| HCL Technologies Limited | 0.91% | 0.66% |
| United Breweries Limited | 0.65% | 1.64% |
| Gland Pharma Limited | 0.64% | 2.28% |
| Emami Limited | 0.84% | 0.61% |
| Berger Paints (I) Limited | 0.60% | 2.25% |
| ZF Commercial Vehicle Control Systems India Limited | 0.57% | 1.00% |
| Lupin Limited | 0.72% | 0.52% |
| Voltas Limited | 0.96% | 0.50% |
| LG Electronics India Ltd | 0.92% | 0.47% |
| Vedant Fashions Limited | 0.45% | 0.50% |
| SBI Cards and Payment Services Limited | 0.70% | 0.44% |
| Delhivery Limited | 0.44% | 0.93% |
| Timken India Limited | 0.45% | 0.43% |
| Dr. Lal Path Labs Limited | 0.42% | 0.64% |
| JK Cement Limited | 0.42% | 0.48% |
| Vedanta Aluminium Metal Limited | 0.56% | 0.41% |
| Kajaria Ceramics Limited | 0.27% | 0.60% |
| Go Digit General Insurance Limited | 0.25% | 0.25% |
| Sheela Foam Limited | 0.38% | 0.23% |
| Sun Pharmaceutical Industries Limited | 0.91% | 0.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.1% means 34.1% 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 Multi Cap Fund
| Security | % of fund |
|---|---|
| Linde India Limited | 1.79% |
| NTPC Limited | 1.79% |
| Larsen & Toubro Limited | 1.74% |
| Avenue Supermarts Limited | 1.63% |
| Bajaj Finance Limited | 1.63% |
Largest holdings only in SBI Large & Midcap Fund
| Security | % of fund |
|---|---|
| Adani Enterprises Ltd. | 2.46% |
| Asian Paints Ltd. | 2.28% |
| Tata Motors Ltd. | 2.22% |
| Biocon Ltd. | 2.20% |
| Ashok Leyland Ltd. | 2.13% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Multi Cap | SBI Large & Midcap |
|---|---|---|
| Equity | 99.3% | 96.9% |
| Debt | 0.0% | 0.3% |
| Cash and others | 0.7% | 2.8% |
Market cap of stocks
| Market cap | Nippon India Multi Cap | SBI Large & Midcap |
|---|---|---|
| Large Cap | 43.5% | 41.0% |
| Mid Cap | 29.5% | 35.5% |
| Small Cap | 26.3% | 19.6% |
| Foreign stocks | 0.0% | 0.8% |
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 | Nippon India Multi Cap | SBI Large & Midcap |
|---|---|---|
| Banks | 17.6% | 16.0% |
| Pharmaceuticals & Biotechnology | 7.9% | 12.9% |
| Retailing | 9.9% | 4.3% |
| Auto Components | 3.2% | 9.2% |
| Consumer Durables | 6.9% | 6.9% |
| Leisure Services | 5.8% | 2.4% |
| Electrical Equipment | 5.0% | 0.0% |
| IT - Software | 5.0% | 4.9% |
| Agricultural, Commercial & Construction Vehicles | 0.0% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Multi Cap vs SBI Large & Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Multi Cap Fund | SBI Large & Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.89% | 0.86% |
| Base expense ratio (Direct) | 0.60% | 0.61% |
| Total expense ratio (Regular) | 1.62% | 1.65% |
| Base expense ratio (Regular) | 1.23% | 1.29% |
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 Multi Cap with
Nippon India Multi Cap Fund vs SBI Large & Midcap Fund: Frequently Asked Questions
What is the difference between Nippon India Multi Cap Fund and SBI Large & Midcap Fund?
Nippon India Multi Cap Fund is a Multi Cap fund, SBI Large & Midcap Fund is a Large & Mid Cap fund, run by Nippon India Mutual Fund and SBI Mutual Fund. Their portfolios overlap 34.1%. Nippon India Multi Cap Fund charges 0.89% a year and SBI Large & Midcap Fund 0.86%.
Which has given higher returns, Nippon India Multi Cap Fund or SBI Large & Midcap Fund?
Over 1 year: Nippon India Multi Cap Fund −8.14%, SBI Large & Midcap Fund −5.40%. Over 3 years: Nippon India Multi Cap Fund +11.87% a year, SBI Large & Midcap Fund +12.07% a year. Over 5 years: Nippon India Multi Cap Fund +14.92% a year, SBI Large & Midcap Fund +11.58% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India Multi Cap Fund or SBI Large & Midcap Fund?
SBI Large & Midcap Fund charges less: 0.86% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Multi Cap Fund and SBI Large & Midcap Fund overlap?
34.1%. They hold 35 of the same securities, the largest shared ones being HDFCBANK, AXISBANK, ICICIBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Nippon India Multi Cap Fund or SBI Large & Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,13,687 in Nippon India Multi Cap Fund (XIRR 11.3% a year) and ₹7,80,110 in SBI Large & Midcap Fund (XIRR 9.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India Multi Cap Fund and SBI Large & Midcap Fund?
Yes. 34.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.