SBI Large & Midcap Fund vs SBI MultiCap Fund
Direct Plan, Growth option · Data as on 29-10-2026
SBI Large & Midcap Fund is a Large & Mid Cap fund and SBI MultiCap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, SBI Large & Midcap Fund (Direct) returned 12.1% a year and SBI MultiCap Fund (Direct) returned 11.7% a year. SBI Large & Midcap Fund charges 0.86% a year and SBI MultiCap Fund 1.06% (Direct plans). Their portfolios overlap 29.5%: they hold 19 of the same securities.
SBI Large & Midcap Fund
Large & Mid Cap
- 3 year return
- 12.1%
- Expense ratio
- 0.86%
- NAV
- ₹660.32
Which is better, SBI Large & Midcap or SBI MultiCap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Large & Midcap returned more over 3 years: 12.1% a year against 11.7%.
- SBI Large & Midcap returned more over 1 year: −5.4% against −6.8%.
- SBI Large & Midcap costs less: 0.86% a year against 1.06% (Direct plans).
- SBI Large & Midcap swung less over 3 years: a standard deviation of 12.9% a year against 13.1%.
- SBI Large & Midcap fell less in its worst fall since 15-03-2022: −14.3% against −15.1%.
- SBI Large & Midcap is the larger fund: ₹40,499 Cr against ₹23,456 Cr.
- Their portfolios overlap 29.5%: 19 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 | SBI Large & Midcap Fund | SBI MultiCap Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | SBI Mutual Fund |
| Category | Large & Mid Cap | Multi Cap |
| AUM | ₹40,499 Cr (30-09-2026) | ₹23,456 Cr (30-09-2026) |
| NAV | ₹660.32 (Direct) | ₹16.86 (Direct) |
| Expense ratio (Direct) | 0.86% | 1.06% |
| Expense ratio (Regular) | 1.65% | 1.84% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | Not available | 08-03-2022 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | R Srinivasan, Saurabh Pant |
| Exit load | Not available | Exit load of 0.25% if redeemed within 30 days and 0.10% if redeemed after 30 days but on or before 90 days. |
SBI Large & Midcap vs SBI 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 |
|---|---|---|---|---|---|---|---|
| SBI Large & Midcap Fund (Direct) | −2.33% | −8.03% | −3.88% | −5.40% | +12.07% | +11.58% | +13.85% |
| SBI MultiCap Fund (Direct) | −3.15% | −5.73% | −1.62% | −6.77% | +11.73% | -- | -- |
| 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.
SBI Large & Midcap vs SBI MultiCap: Year-wise Returns
| Year | Large & MidcapSBI Large & Midcap | MultiCapSBI MultiCap |
|---|---|---|
| 2026to date | −6.79% | −4.05% |
| 2025 | +11.00% | +3.83% |
| 2024 | +19.12% | +27.02% |
| 2023 | +27.91% | +23.63% |
| 2022 | +8.13% | -- |
| 2021 | +40.40% | -- |
SBI Large & Midcap vs SBI MultiCap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of SBI Large & Midcap Fund
Rolling returns
Every 3-year holding period, 407 of them, one for each trading day from 17-03-2025 to 29-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
SBI Large & Midcap Fund (Direct)
SBI MultiCap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
May 2025Aug 2022
to
Aug 2025Nov 2022
to
Nov 2025Mar 2023
to
Mar 2026Jun 2023
to
Jun 2026Sept 2023
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SBI Large & Midcap | 0.0 | 0.0 | 0.0 | 15.7 | 66.3 | 17.9 | 0.0 | 17.7% | 17.8% | 11.0% | 24.4% | 39% |
| SBI MultiCap | 0.0 | 0.0 | 0.0 | 18.0 | 70.0 | 12.1 | 0.0 | 17.1% | 17.2% | 10.1% | 23.7% | 19% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 17.9 | 62.7 | 18.9 | 0.5 | 17.9% | 18.1% | 10.1% | 25.5% | -- |
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 15-03-2022. Past returns do not promise future returns.
SBI Large & Midcap vs SBI 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 02-03-2022 to 29-10-2026: 56 instalments, ₹5,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI Large & MidcapSBI Large & Midcap Fund (Direct) | ₹5,60,000 | ₹6,94,381 | ₹1,34,381 | 9.2% |
| SBI MultiCapSBI MultiCap Fund (Direct) | ₹5,60,000 | ₹6,89,053 | ₹1,29,053 | 8.9% |
SBI Large & MidcapSBI Large & Midcap Fund (Direct)
SBI MultiCapSBI 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.
SBI Large & Midcap vs SBI MultiCap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI Large & Midcap Fund (Direct) | SBI MultiCap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.40% | −6.77% |
| Standard deviation | 13.45% | 14.08% |
| Sharpe ratio | -0.79 | -0.85 |
| Sortino ratio | -1.06 | -1.13 |
| Maximum drawdown | −12.5% (31-03-2026) | −14.6% (31-03-2026) |
| Beta | 0.88 | 0.90 |
| Alpha | −0.19% | −1.84% |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 | SBI Large & Midcap Fund (Direct) | SBI MultiCap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.07% | +11.73% |
| Standard deviation | 12.86% | 13.09% |
| Sharpe ratio | 0.47 | 0.44 |
| Sortino ratio | 0.64 | 0.59 |
| Maximum drawdown | −14.2% (03-03-2025) | −15.1% (31-03-2026) |
| Beta | 0.84 | 0.81 |
| Alpha | +1.23% | +1.43% |
From daily NAVs, 27-10-2023 to 29-10-2026. 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 | SBI Large & Midcap Fund (Direct) | SBI MultiCap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.59% | +11.52% |
| Standard deviation | 14.85% | 12.18% |
| Sharpe ratio | 0.64 | 0.45 |
| Sortino ratio | 0.86 | 0.61 |
| Maximum drawdown | −36.4% (23-03-2020) | −15.1% (31-03-2026) |
| Beta | -- | 0.79 |
| Alpha | -- | +0.26% |
From daily NAVs, 02-01-2013 to 29-10-2026. 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.
SBI Large & Midcap Fund (Direct)
SBI 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 |
|---|---|---|---|---|---|---|
| SBI Large & Midcap Fund (Direct) | −14.3% | 11-04-2022 | 20-06-2022 | 11-08-2022 | 52 days | −9.7% |
| SBI MultiCap Fund (Direct) | −15.1% | 23-07-2025 | 31-03-2026 | 20-08-2026 | 5 months | −8.0% |
| NIFTY LargeMidcap 250 TRI | −18.8% | 26-09-2024 | 28-02-2025 | 17-11-2025 | 9 months | −8.6% |
From daily values since 15-03-2022, 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.
SBI Large & Midcap Fund (Direct)
SBI 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.
SBI Large & Midcap Fund (Direct)
SBI MultiCap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| SBI Large & Midcap Fund (Direct) | 88% | 77% | 4.01% |
| SBI MultiCap Fund (Direct) | 87% | 81% | 4.95% |
From month-end values since 15-03-2022. 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.
SBI Large & Midcap vs SBI MultiCap: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Large & Midcap Fund, September 2026; SBI MultiCap Fund, September 2026
Holdings in common
- Overlap
- 29.5%
- Held by both
- 19
- Only in SBI Large & Midcap
- 67
- Only in SBI MultiCap
- 52
| Security | % of SBI Large & Midcap | % of SBI MultiCap |
|---|---|---|
| ICICI Bank Ltd. | 3.79% | 3.94% |
| HDFC Bank Ltd. | 6.65% | 3.02% |
| Adani Enterprises Ltd. | 2.46% | 3.47% |
| Berger Paints India Ltd. | 2.25% | 2.14% |
| Asian Paints Ltd. | 2.28% | 2.05% |
| Torrent Power Ltd. | 2.00% | 2.12% |
| Divi's Laboratories Ltd. | 1.90% | 3.37% |
| Biocon Ltd. | 2.20% | 1.74% |
| United Breweries Ltd. | 1.64% | 1.43% |
| Axis Bank Ltd. | 3.33% | 1.36% |
| Kotak Mahindra Bank Ltd. | 1.33% | 2.67% |
| Jubilant Foodworks Ltd. | 1.24% | 1.97% |
| FSN E-Commerce Ventures Ltd. | 1.42% | 1.09% |
| Page Industries Ltd. | 1.09% | 1.19% |
| Swiggy Ltd. | 2.35% | 0.96% |
| JSW Energy Ltd. | 0.92% | 0.65% |
| Tata Steel Ltd. | 0.63% | 1.02% |
| Shree Cement Ltd. | 1.85% | 0.55% |
| 364 DAY T-BILL 19.11.26 | 0.09% | 0.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.5% means 29.5% 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 SBI Large & Midcap Fund
| Security | % of fund |
|---|---|
| Balkrishna Industries Ltd. | 2.46% |
| Gland Pharma Ltd. | 2.28% |
| Tata Motors Ltd. | 2.22% |
| Ashok Leyland Ltd. | 2.13% |
| Abbott India Ltd. | 2.06% |
Largest holdings only in SBI MultiCap Fund
| Security | % of fund |
|---|---|
| Adani Power Ltd. | 3.48% |
| K.P.R. Mill Ltd. | 3.06% |
| Aether Industries Ltd. | 2.61% |
| Paradeep Phosphates Ltd. | 2.30% |
| Lenskart Solutions Ltd. | 2.19% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI Large & Midcap | SBI MultiCap |
|---|---|---|
| Equity | 96.9% | 99.1% |
| Debt | 0.3% | 0.1% |
| Cash and others | 2.8% | 0.8% |
Market cap of stocks
| Market cap | SBI Large & Midcap | SBI MultiCap |
|---|---|---|
| Large Cap | 41.0% | 35.1% |
| Mid Cap | 35.5% | 26.3% |
| Small Cap | 19.6% | 33.5% |
| Foreign stocks | 0.8% | 0.0% |
| Not on AMFI's list | 0.0% | 4.2% |
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 | SBI Large & Midcap | SBI MultiCap |
|---|---|---|
| Banks | 16.0% | 12.3% |
| Pharmaceuticals & Biotechnology | 12.9% | 6.3% |
| Auto Components | 9.2% | 7.5% |
| Consumer Durables | 6.9% | 8.8% |
| Retailing | 4.3% | 8.6% |
| Power | 4.3% | 6.3% |
| IT - Software | 4.9% | 2.0% |
| Agricultural, Commercial & Construction Vehicles | 4.3% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Large & Midcap vs SBI MultiCap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Large & Midcap Fund | SBI MultiCap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.86% | 1.06% |
| Base expense ratio (Direct) | 0.61% | 0.73% |
| Total expense ratio (Regular) | 1.65% | 1.84% |
| Base expense ratio (Regular) | 1.29% | 1.40% |
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 SBI Large & Midcap with
SBI Large & Midcap Fund vs SBI MultiCap Fund: Frequently Asked Questions
What is the difference between SBI Large & Midcap Fund and SBI MultiCap Fund?
SBI Large & Midcap Fund is a Large & Mid Cap fund, SBI MultiCap Fund is a Multi Cap fund, run by SBI Mutual Fund. Their portfolios overlap 29.5%. SBI Large & Midcap Fund charges 0.86% a year and SBI MultiCap Fund 1.06%.
Which has given higher returns, SBI Large & Midcap Fund or SBI MultiCap Fund?
Over 1 year: SBI Large & Midcap Fund −5.40%, SBI MultiCap Fund −6.77%. Over 3 years: SBI Large & Midcap Fund +12.07% a year, SBI MultiCap Fund +11.73% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, SBI Large & Midcap Fund or SBI MultiCap Fund?
SBI Large & Midcap Fund charges less: 0.86% a year against 1.06%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI Large & Midcap Fund and SBI MultiCap Fund overlap?
29.5%. They hold 19 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, ADANIENT. From each fund's latest monthly portfolio.
Which is better for SIP, SBI Large & Midcap Fund or SBI MultiCap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 29-10-2026 grew to ₹3,89,545 in SBI Large & Midcap Fund (XIRR 3.3% a year) and ₹3,89,595 in SBI MultiCap Fund (XIRR 3.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both SBI Large & Midcap Fund and SBI MultiCap Fund?
Yes. 29.5% 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.