Tata Large & Mid Cap Fund vs Tata Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Large & Mid Cap Fund is a Large & Mid Cap fund and Tata Small Cap Fund is a Small Cap fund. In the 3 years to 30-10-2026, Tata Large & Mid Cap Fund (Direct) returned 5.6% a year and Tata Small Cap Fund (Direct) returned 8.1% a year. Tata Large & Mid Cap Fund charges 0.78% a year and Tata Small Cap Fund 0.53% (Direct plans). Their portfolios overlap 22.8%: they hold 14 of the same securities.
Tata Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 5.6%
- Expense ratio
- 0.78%
- NAV
- ₹521.99
Which is better, Tata Large & Mid Cap or Tata Small Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Tata Small Cap returned more over 5 years: 12.3% a year against 7.8%.
- Tata Small Cap returned more over 3 years: 8.1% a year against 5.6%.
- Tata Small Cap costs less: 0.53% a year against 0.78% (Direct plans).
- Tata Large & Mid Cap swung less over 3 years: a standard deviation of 14.2% a year against 17.6%.
- Tata Large & Mid Cap fell less in its worst fall since 13-11-2018: −35.7% against −36.6%.
- Tata Large & Mid Cap holds more in large companies: 38.1% of the fund in large caps against 0.0%.
- Tata Small Cap is the larger fund: ₹13,214 Cr against ₹7,254 Cr.
- Their portfolios overlap 22.8%: 14 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 | Tata Large & Mid Cap Fund | Tata Small Cap Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | Tata Mutual Fund |
| Category | Large & Mid Cap | Small Cap |
| AUM | ₹7,254 Cr (30-09-2026) | ₹13,214 Cr (30-09-2026) |
| NAV | ₹521.99 (Direct) | ₹39.90 (Direct) |
| Expense ratio (Direct) | 0.78% | 0.53% |
| Expense ratio (Regular) | 1.84% | 1.70% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty Smallcap 250 TRI |
| Launch date | 31-03-1993 | 12-11-2018 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Chandraprakash Padiyar, Kapil Malhotra | Chandraprakash Padiyar, Jeetendra Khatri |
| Exit load | Exit load of 0.50%, if redeemed within 30 days. | Exit load of 0.50%, if redeemed within 30 days. |
Tata Large & Mid Cap vs Tata Small 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 |
|---|---|---|---|---|---|---|---|
| Tata Large & Mid Cap Fund (Direct) | −4.44% | −10.20% | −5.87% | −14.20% | +5.64% | +7.83% | +11.60% |
| Tata Small Cap Fund (Direct) | −11.16% | −7.67% | +0.91% | −10.42% | +8.13% | +12.26% | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | +14.03% | +14.51% | -- |
Category average: the average of the 36 Large & Mid Cap funds and the 36 Small Cap funds, same plan type.
Tata Large & Mid Cap vs Tata Small Cap: Year-wise Returns
| Year | Large & MidTata Large & Mid Cap | SmallTata Small Cap |
|---|---|---|
| 2026to date | −13.24% | −3.96% |
| 2025 | +3.28% | −11.28% |
| 2024 | +16.82% | +33.54% |
| 2023 | +24.18% | +35.63% |
| 2022 | +12.45% | +10.29% |
| 2021 | +29.91% | +73.59% |
Tata Large & Mid Cap vs Tata Small Cap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of Tata Large & Mid Cap Fund
Rolling returns
Every 3-year holding period, 1,222 of them, one for each trading day from 15-11-2021 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.
Tata Large & Mid Cap Fund (Direct)
Tata Small Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Apr 2022Feb 2020
to
Feb 2023Dec 2020
to
Dec 2023Oct 2021
to
Oct 2024Aug 2022
to
Aug 2025Jun 2023
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Large & Mid Cap | 0.0 | 0.0 | 8.8 | 15.8 | 36.6 | 28.1 | 10.7 | 18.3% | 18.9% | 5.1% | 33.9% | 5% |
| Tata Small Cap | 0.0 | 0.0 | 0.6 | 12.5 | 6.6 | 12.7 | 67.6 | 28.3% | 28.8% | 8.1% | 50.4% | 83% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 7.6 | 40.1 | 39.5 | 12.8 | 20.6% | 20.3% | 10.1% | 36.1% | -- |
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 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 13-11-2018. Past returns do not promise future returns.
Tata Large & Mid Cap vs Tata Small 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 01-11-2018 to 30-10-2026: 96 instalments, ₹9,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Tata Large & Mid CapTata Large & Mid Cap Fund (Direct) | ₹9,60,000 | ₹14,53,069 | ₹4,93,069 | 10.1% |
| Tata Small CapTata Small Cap Fund (Direct) | ₹9,60,000 | ₹19,73,085 | ₹10,13,085 | 17.5% |
Tata Large & Mid CapTata Large & Mid Cap Fund (Direct)
Tata Small CapTata Small 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.
Tata Large & Mid Cap vs Tata Small Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Large & Mid Cap Fund (Direct) | Tata Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −14.20% | −10.42% |
| Standard deviation | 15.34% | 18.19% |
| Sharpe ratio | -1.27 | -0.86 |
| Sortino ratio | -1.67 | -1.17 |
| Maximum drawdown | −18.4% (31-03-2026) | −23.0% (30-03-2026) |
| Beta | 0.99 | 0.95 |
| Alpha | −7.79% | −7.70% |
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 | Tata Large & Mid Cap Fund (Direct) | Tata Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.64% | +8.13% |
| Standard deviation | 14.19% | 17.64% |
| Sharpe ratio | -0.03 | 0.12 |
| Sortino ratio | -0.04 | 0.16 |
| Maximum drawdown | −21.7% (31-03-2026) | −30.9% (30-03-2026) |
| Beta | 0.92 | 0.87 |
| Alpha | −5.44% | −3.41% |
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 | Tata Large & Mid Cap Fund (Direct) | Tata Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.83% | +12.26% |
| Standard deviation | 13.79% | 16.45% |
| Sharpe ratio | 0.15 | 0.39 |
| Sortino ratio | 0.20 | 0.52 |
| Maximum drawdown | −21.7% (31-03-2026) | −30.9% (30-03-2026) |
| Beta | 0.89 | 0.83 |
| Alpha | −2.27% | +0.40% |
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 | Tata Large & Mid Cap Fund (Direct) | Tata Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.64% | +18.96% |
| Standard deviation | 15.00% | 16.66% |
| Sharpe ratio | 0.51 | 0.82 |
| Sortino ratio | 0.68 | 1.09 |
| Maximum drawdown | −35.7% (23-03-2020) | −36.6% (24-03-2020) |
| Beta | -- | 0.79 |
| Alpha | -- | +4.56% |
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.
Tata Large & Mid Cap Fund (Direct)
Tata Small Cap 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 |
|---|---|---|---|---|---|---|
| Tata Large & Mid Cap Fund (Direct) | −35.7% | 24-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −17.8% |
| Tata Small Cap Fund (Direct) | −36.6% | 07-02-2020 | 24-03-2020 | 15-09-2020 | 6 months | −19.6% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
From daily values since 13-11-2018, 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.
Tata Large & Mid Cap Fund (Direct)
Tata Small Cap 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.
Tata Large & Mid Cap Fund (Direct)
Tata Small Cap Fund (Direct)
NIFTY LargeMidcap 250 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.
Tata Large & Mid Cap Fund (Direct)
Tata Small Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Tata Large & Mid Cap Fund (Direct) | 89% | 90% | 4.57% |
| Tata Small Cap Fund (Direct) | 109% | 92% | 10.70% |
From month-end values since 13-11-2018. 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.
Tata Large & Mid Cap vs Tata Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Large & Mid Cap Fund, September 2026; Tata Small Cap Fund, September 2026
Holdings in common
- Overlap
- 22.8%
- Held by both
- 14
- Only in Tata Large & Mid Cap
- 37
- Only in Tata Small Cap
- 49
| Security | % of Tata Large & Mid Cap | % of Tata Small Cap |
|---|---|---|
| IDFC FIRST BANK LTD | 5.42% | 3.68% |
| TEGA INDUSTRIES LTD | 3.48% | 4.15% |
| WOCKHARDT LTD | 2.86% | 3.36% |
| GODREJ INDUSTRIES LTD | 2.50% | 3.11% |
| THE RAMCO CEMENTS LTD | 1.86% | 2.51% |
| ELANTAS BECK INDIA LTD | 1.80% | 2.19% |
| SUDARSHAN CHEMICAL INDUSTRIES LTD | 1.79% | 4.54% |
| BASF INDIA LTD | 1.25% | 1.99% |
| QUESS CORP LTD | 1.10% | 2.34% |
| NETWORK PEOPLE SERVICES TECHNOLOGIES LTD | 1.05% | 2.05% |
| JSW DULUX LTD | 0.77% | 0.67% |
| BLUSPRING ENTERPRISES LTD | 0.46% | 0.90% |
| DIGITIDE SOLUTIONS LTD | 0.24% | 0.26% |
| CARTRADE TECH LTD | 0.09% | 2.33% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.8% means 22.8% 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 Tata Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| HDFC BANK LTD | 8.40% |
| STATE BANK OF INDIA | 5.56% |
| ICICI BANK LTD | 4.19% |
| VARUN BEVERAGES LTD | 4.17% |
| BHARTI AIRTEL LTD | 4.06% |
Largest holdings only in Tata Small Cap Fund
| Security | % of fund |
|---|---|
| USHA MARTIN LTD | 4.38% |
| KIRLOSKAR PNEUMATIC COMPANY LTD | 4.30% |
| CELLO WORLD LTD | 2.49% |
| CARBORUNDUM UNIVERSAL LTD | 2.26% |
| BALRAMPUR CHINI MILLS LTD | 2.14% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Large & Mid Cap | Tata Small Cap |
|---|---|---|
| Equity | 95.7% | 91.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.3% | 8.2% |
Market cap of stocks
| Market cap | Tata Large & Mid Cap | Tata Small Cap |
|---|---|---|
| Large Cap | 38.1% | 0.0% |
| Mid Cap | 36.2% | 6.8% |
| Small Cap | 20.9% | 79.7% |
| Not on AMFI's list | 0.5% | 5.3% |
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 | Tata Large & Mid Cap | Tata Small Cap |
|---|---|---|
| Banks | 24.4% | 5.4% |
| Industrial Products | 0.0% | 17.8% |
| Chemicals & Petrochemicals | 4.8% | 9.8% |
| Finance | 7.1% | 0.0% |
| Pharmaceuticals & Biotechnology | 6.6% | 4.4% |
| Telecom - Services | 6.2% | 0.0% |
| Consumer Durables | 0.8% | 6.1% |
| Commercial Services & Supplies | 1.6% | 6.1% |
| Beverages | 5.9% | 0.0% |
| Industrial Manufacturing | 3.5% | 5.8% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Large & Mid Cap vs Tata Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Large & Mid Cap Fund | Tata Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.78% | 0.53% |
| Base expense ratio (Direct) | 0.63% | 0.42% |
| Total expense ratio (Regular) | 1.84% | 1.70% |
| Base expense ratio (Regular) | 1.54% | 1.47% |
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 Tata Large & Mid Cap with
Tata Large & Mid Cap Fund vs Tata Small Cap Fund: Frequently Asked Questions
What is the difference between Tata Large & Mid Cap Fund and Tata Small Cap Fund?
Tata Large & Mid Cap Fund is a Large & Mid Cap fund, Tata Small Cap Fund is a Small Cap fund, run by Tata Mutual Fund. Their portfolios overlap 22.8%. Tata Large & Mid Cap Fund charges 0.78% a year and Tata Small Cap Fund 0.53%.
Which has given higher returns, Tata Large & Mid Cap Fund or Tata Small Cap Fund?
Over 1 year: Tata Large & Mid Cap Fund −14.20%, Tata Small Cap Fund −10.42%. Over 3 years: Tata Large & Mid Cap Fund +5.64% a year, Tata Small Cap Fund +8.13% a year. Over 5 years: Tata Large & Mid Cap Fund +7.83% a year, Tata Small Cap Fund +12.26% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Large & Mid Cap Fund or Tata Small Cap Fund?
Tata Small Cap Fund charges less: 0.53% a year against 0.78%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Large & Mid Cap Fund and Tata Small Cap Fund overlap?
22.8%. They hold 14 of the same securities, the largest shared ones being IDFCFIRSTB, TEGA, WOCKPHARMA. From each fund's latest monthly portfolio.
Which is riskier, Tata Large & Mid Cap Fund or Tata Small Cap Fund?
On SEBI's riskometer, Tata Large & Mid Cap Fund is rated Very High and Tata Small Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.19% and 17.64% a year.
Which is better for SIP, Tata Large & Mid Cap Fund or Tata Small Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,76,600 in Tata Large & Mid Cap Fund (XIRR 4.0% a year) and ₹7,53,058 in Tata Small Cap Fund (XIRR 8.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Tata Large & Mid Cap Fund and Tata Small Cap Fund?
Yes. 22.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Large & Mid Cap Fund and Tata Small Cap Fund?
Tata Large & Mid Cap Fund: Chandraprakash Padiyar, Kapil Malhotra. Tata Small Cap Fund: Chandraprakash Padiyar, Jeetendra Khatri.
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.