Tata Retirement Savings Fund Progressive vs Union Retirement Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Retirement Savings Fund Progressive is a Solution fund and Union Retirement Fund is a Solution fund. In the 3 years to 30-10-2026, Tata Retirement Savings Fund Progressive (Direct) returned 11.5% a year and Union Retirement Fund (Direct) returned 12.1% a year. Tata Retirement Savings Fund Progressive charges 0.83% a year and Union Retirement Fund 1.36% (Direct plans). Their portfolios overlap 30.3%: they hold 20 of the same securities.
Tata Retirement Savings Fund Progressive
Solution
- 3 year return
- 11.5%
- Expense ratio
- 0.83%
- NAV
- ₹78.90
Which is better, Tata Retirement Savings Fund Progressive or Union Retirement? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Retirement returned more over 3 years: 12.1% a year against 11.5%.
- Tata Retirement Savings Fund Progressive returned more over 1 year: −1.9% against −2.2%.
- Tata Retirement Savings Fund Progressive costs less: 0.83% a year against 1.36% (Direct plans).
- Union Retirement swung less over 3 years: a standard deviation of 14.3% a year against 14.5%.
- Union Retirement fell less in its worst fall since 29-09-2022: −17.8% against −18.8%.
- Tata Retirement Savings Fund Progressive is the larger fund: ₹2,104 Cr against ₹207 Cr.
- Their portfolios overlap 30.3%: 20 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 Retirement Savings Fund Progressive | Union Retirement Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | Union Mutual Fund |
| Category | Solution | Solution |
| AUM | ₹2,104 Cr (30-09-2026) | ₹207 Cr (30-09-2026) |
| NAV | ₹78.90 (Direct) | ₹16.43 (Direct) |
| Expense ratio (Direct) | 0.83% | 1.36% |
| Expense ratio (Regular) | 2.20% | 2.67% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE 500 TRI |
| Launch date | 01-11-2011 | 22-09-2022 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | 5 years, or until retirement if earlier | 5 years, or until retirement if earlier |
| Fund managers | Murthy Nagarajan, Sonam Udasi | Pratik Dharmshi, Pratit Vajani |
| Exit load | A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age - Nil. B) In case of Auto switch-out of units on occurrence of “Auto-switch trigger event” - Nil. C) 1% -If redeemed before 61 months from the date of allotment. | Nil |
Tata Retirement Savings Fund Progressive vs Union Retirement: 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 Retirement Savings Fund Progressive (Direct) | −2.60% | −6.88% | −1.00% | −1.95% | +11.53% | +9.32% | +13.02% |
| Union Retirement Fund (Direct) | −2.20% | −5.14% | −1.02% | −2.20% | +12.05% | -- | -- |
Tata Retirement Savings Fund Progressive vs Union Retirement: Year-wise Returns
| Year | Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive | Union RetirementUnion Retirement |
|---|---|---|
| 2026to date | −1.40% | −2.67% |
| 2025 | +0.24% | +7.45% |
| 2024 | +23.49% | +18.75% |
| 2023 | +30.88% | +32.30% |
| 2022 | −2.43% | -- |
| 2021 | +25.20% | -- |
Tata Retirement Savings Fund Progressive vs Union Retirement: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Tata Retirement Savings Fund Progressive
Rolling returns
Every 3-year holding period, 266 of them, one for each trading day from 29-09-2025 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 Retirement Savings Fund Progressive (Direct)
Union Retirement Fund (Direct)
Nifty 500 TRI
to
Oct 2025Jan 2023
to
Jan 2026Mar 2023
to
Mar 2026May 2023
to
May 2026Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Progressive | 0.0 | 0.0 | 0.0 | 22.2 | 77.8 | 0.0 | 0.0 | 15.9% | 16.2% | 10.6% | 18.7% | 92% |
| Union Retirement | 0.0 | 0.0 | 0.0 | 18.8 | 79.7 | 1.5 | 0.0 | 16.9% | 17.6% | 10.8% | 20.2% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 7.1 | 41.4 | 51.5 | 0.0 | 0.0 | 14.5% | 15.1% | 8.8% | 18.1% | -- |
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 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 29-09-2022. Past returns do not promise future returns.
Tata Retirement Savings Fund Progressive vs Union Retirement: 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 01-09-2022 to 30-10-2026: 50 instalments, ₹5,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive (Direct) | ₹5,00,000 | ₹5,95,253 | ₹95,253 | 8.3% |
| Union RetirementUnion Retirement Fund (Direct) | ₹5,00,000 | ₹6,05,015 | ₹1,05,015 | 9.1% |
Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive (Direct)
Union RetirementUnion Retirement 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 Retirement Savings Fund Progressive vs Union Retirement: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Retirement Savings Fund Progressive (Direct) | Union Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.95% | −2.20% |
| Standard deviation | 14.59% | 15.10% |
| Sharpe ratio | -0.49 | -0.49 |
| Sortino ratio | -0.66 | -0.66 |
| Maximum drawdown | −14.1% (31-03-2026) | −12.2% (23-03-2026) |
| Beta | 0.96 | 1.02 |
| Alpha | +4.89% | +5.74% |
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 Retirement Savings Fund Progressive (Direct) | Union Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.53% | +12.05% |
| Standard deviation | 14.52% | 14.27% |
| Sharpe ratio | 0.38 | 0.42 |
| Sortino ratio | 0.51 | 0.57 |
| Maximum drawdown | −18.8% (03-03-2025) | −17.8% (28-02-2025) |
| Beta | 0.96 | 0.98 |
| Alpha | +1.47% | +2.23% |
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 | Tata Retirement Savings Fund Progressive (Direct) | Union Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.40% | +14.09% |
| Standard deviation | 15.13% | 13.10% |
| Sharpe ratio | 0.55 | 0.60 |
| Sortino ratio | 0.75 | 0.82 |
| Maximum drawdown | −34.2% (23-03-2020) | −17.8% (28-02-2025) |
| Beta | 0.92 | 0.96 |
| Alpha | +2.18% | +3.12% |
From daily NAVs, 04-01-2013 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 Retirement Savings Fund Progressive (Direct)
Union Retirement Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Progressive (Direct) | −18.8% | 23-09-2024 | 03-03-2025 | 19-06-2026 | 16 months | −9.2% |
| Union Retirement Fund (Direct) | −17.8% | 26-09-2024 | 28-02-2025 | 20-10-2025 | 8 months | −7.9% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 29-09-2022, 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.
Tata Retirement Savings Fund Progressive (Direct)
Union Retirement 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.
Tata Retirement Savings Fund Progressive (Direct)
Union Retirement Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Tata Retirement Savings Fund Progressive (Direct) | 99% | 89% | 5.31% |
| Union Retirement Fund (Direct) | 99% | 82% | 3.65% |
From month-end values since 29-09-2022. 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.
Tata Retirement Savings Fund Progressive vs Union Retirement: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Retirement Savings Fund Progressive, September 2026; Union Retirement Fund, September 2026
Holdings in common
- Overlap
- 30.3%
- Held by both
- 20
- Only in Tata Retirement Savings Fund Progressive
- 32
- Only in Union Retirement
- 60
| Security | % of Tata Retirement Savings Fund Progressive | % of Union Retirement |
|---|---|---|
| ICICI BANK LTD | 4.97% | 5.76% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 3.81% | 2.72% |
| SOLAR INDUSTRIES INDIA LTD | 5.39% | 2.53% |
| ETERNAL LTD | 4.11% | 2.17% |
| RELIANCE INDUSTRIES LTD | 3.66% | 2.10% |
| TATA CONSUMER PRODUCTS LTD | 1.73% | 1.84% |
| KARUR VYSYA BANK LTD | 2.14% | 1.72% |
| DIXON TECHNOLOGIES (INDIA) LTD | 2.02% | 1.59% |
| TITAN COMPANY LTD | 1.96% | 1.55% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 2.46% | 1.31% |
| NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 1.88% | 1.30% |
| SHRIRAM FINANCE LTD | 1.01% | 1.24% |
| VARUN BEVERAGES LTD | 1.00% | 1.05% |
| MARUTI SUZUKI INDIA LTD | 0.92% | 0.96% |
| APOLLO HOSPITALS ENTERPRISE LTD | 1.40% | 0.79% |
| GRASIM INDUSTRIES LTD | 1.31% | 0.74% |
| DOMS INDUSTRIES LTD | 1.71% | 0.73% |
| HCL TECHNOLOGIES LTD | 1.68% | 0.71% |
| ATHER ENERGY LTD | 1.51% | 0.55% |
| PB FINTECH LTD | 1.55% | 0.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.3% means 30.3% 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 Retirement Savings Fund Progressive
| Security | % of fund |
|---|---|
| RADICO KHAITAN LTD | 3.17% |
| KOTAK MAHINDRA BANK LTD | 2.28% |
| 360 ONE WAM LTD | 2.25% |
| RAINBOW CHILDRENS MEDICARE LTD | 2.14% |
| EXIDE INDUSTRIES LTD | 2.12% |
Largest holdings only in Union Retirement Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 4.29% |
| Axis Bank Ltd. | 2.08% |
| Navin Fluorine International Ltd. | 2.00% |
| S.J.S. Enterprises Ltd. | 1.97% |
| Azad Engineering Ltd. | 1.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Retirement Savings Fund Progressive | Union Retirement |
|---|---|---|
| Equity | 93.5% | 97.8% |
| Debt | 0.0% | 0.1% |
| Cash and others | 6.5% | 2.1% |
Market cap of stocks
| Market cap | Tata Retirement Savings Fund Progressive | Union Retirement |
|---|---|---|
| Large Cap | 50.7% | 46.8% |
| Mid Cap | 21.2% | 20.5% |
| Small Cap | 19.9% | 30.6% |
| Not on AMFI's list | 1.8% | 0.0% |
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 Retirement Savings Fund Progressive | Union Retirement |
|---|---|---|
| Banks | 10.5% | 17.0% |
| Capital Markets | 11.6% | 6.8% |
| Electrical Equipment | 2.8% | 6.3% |
| Chemicals & Petrochemicals | 5.4% | 5.8% |
| Auto Components | 2.1% | 5.7% |
| Consumer Durables | 4.0% | 5.6% |
| Industrial Products | 4.9% | 3.2% |
| Retailing | 4.1% | 4.7% |
| Beverages | 4.2% | 1.1% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Retirement Savings Fund Progressive vs Union Retirement: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Retirement Savings Fund Progressive | Union Retirement Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.83% | 1.36% |
| Base expense ratio (Direct) | 0.57% | 0.98% |
| Total expense ratio (Regular) | 2.20% | 2.67% |
| Base expense ratio (Regular) | 1.75% | 2.10% |
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.
Tata Retirement Savings Fund Progressive vs Union Retirement Fund: Frequently Asked Questions
What is the difference between Tata Retirement Savings Fund Progressive and Union Retirement Fund?
Tata Retirement Savings Fund Progressive is a Solution fund, Union Retirement Fund is a Solution fund, run by Tata Mutual Fund and Union Mutual Fund. Their portfolios overlap 30.3%. Tata Retirement Savings Fund Progressive charges 0.83% a year and Union Retirement Fund 1.36%.
Which has given higher returns, Tata Retirement Savings Fund Progressive or Union Retirement Fund?
Over 1 year: Tata Retirement Savings Fund Progressive −1.95%, Union Retirement Fund −2.20%. Over 3 years: Tata Retirement Savings Fund Progressive +11.53% a year, Union Retirement Fund +12.05% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Retirement Savings Fund Progressive or Union Retirement Fund?
Tata Retirement Savings Fund Progressive charges less: 0.83% a year against 1.36%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Retirement Savings Fund Progressive and Union Retirement Fund overlap?
30.3%. They hold 20 of the same securities, the largest shared ones being ICICIBANK, MCX, SOLARINDS. From each fund's latest monthly portfolio.
Which is riskier, Tata Retirement Savings Fund Progressive or Union Retirement Fund?
On SEBI's riskometer, Tata Retirement Savings Fund Progressive is rated Very High and Union Retirement Fund Very High. Over 3 years, the standard deviation of daily returns was 14.52% and 14.27% a year.
Which is better for SIP, Tata Retirement Savings Fund Progressive or Union Retirement Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,92,943 in Tata Retirement Savings Fund Progressive (XIRR 3.9% a year) and ₹3,97,020 in Union Retirement Fund (XIRR 4.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Tata Retirement Savings Fund Progressive and Union Retirement Fund?
Yes. 30.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Retirement Savings Fund Progressive and Union Retirement Fund?
Tata Retirement Savings Fund Progressive: Murthy Nagarajan, Sonam Udasi. Union Retirement Fund: Pratik Dharmshi, Pratit Vajani.
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.