Union Equity Savings Fund vs Union Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Equity Savings Fund is an Equity Savings fund and Union Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Union Equity Savings Fund (Direct) returned 6.6% a year and Union Flexi Cap Fund (Direct) returned 10.7% a year. Union Equity Savings Fund charges 2.11% a year and Union Flexi Cap Fund 1.52% (Direct plans). Their portfolios overlap 36.3%: they hold 47 of the same securities.
Union Equity Savings Fund
Equity Savings
- 3 year return
- 6.6%
- Expense ratio
- 2.11%
- NAV
- ₹17.94
Which is better, Union Equity Savings or Union Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Flexi Cap returned more over 5 years: 9.2% a year against 5.7%.
- Union Flexi Cap returned more over 3 years: 10.7% a year against 6.6%.
- Union Flexi Cap costs less: 1.52% a year against 2.11% (Direct plans).
- Union Equity Savings swung less over 3 years: a standard deviation of 4.7% a year against 14.0%.
- Union Equity Savings fell less in its worst fall since 17-08-2018: −14.4% against −35.4%.
- Union Flexi Cap is the larger fund: ₹2,320 Cr against ₹114 Cr.
- Their portfolios overlap 36.3%: 47 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 | Union Equity Savings Fund | Union Flexi Cap Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | Equity Savings | Flexi Cap |
| AUM | ₹114 Cr (30-09-2026) | ₹2,320 Cr (30-09-2026) |
| NAV | ₹17.94 (Direct) | ₹56.71 (Direct) |
| Expense ratio (Direct) | 2.11% | 1.52% |
| Expense ratio (Regular) | 2.60% | 2.54% |
| Riskometer | Moderately High | Very High |
| Benchmark | CRISIL Equity Savings Index (TRI)# #CRISIL Benchmark Disclaimer: CRISIL Indices are the sole property of CRISIL Limited | BSE 500 TRI |
| Launch date | 09-08-2018 | 10-06-2011 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal | Sanjay Bembalkar, Vinod Malviya |
| Exit load | Exit load of 1%, if redeemed within 15 days. | Exit load of 1%, if redeemed within 15 days. |
Union Equity Savings vs Union Flexi 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 |
|---|---|---|---|---|---|---|---|
| Union Equity Savings Fund (Direct) | −0.44% | −1.10% | +1.18% | +0.67% | +6.60% | +5.74% | -- |
| Union Flexi Cap Fund (Direct) | −0.61% | −2.79% | +1.78% | −3.32% | +10.74% | +9.20% | +12.83% |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
Category average: the average of the 23 Equity Savings funds and the 46 Flexi Cap funds, same plan type.
Union Equity Savings vs Union Flexi Cap: Year-wise Returns
| Year | Equity SavingsUnion Equity Savings | Flexi CapUnion Flexi Cap |
|---|---|---|
| 2026to date | +0.39% | −2.66% |
| 2025 | +5.49% | +4.17% |
| 2024 | +8.94% | +18.20% |
| 2023 | +12.03% | +28.97% |
| 2022 | +2.36% | +0.05% |
| 2021 | +9.35% | +38.27% |
Union Equity Savings vs Union Flexi Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Union Flexi Cap Fund
Rolling returns
Every 3-year holding period, 1,281 of them, one for each trading day from 17-08-2021 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.
Union Equity Savings Fund (Direct)
Union Flexi Cap Fund (Direct)
BSE 500 TRI
to
Jan 2022Dec 2019
to
Dec 2022Oct 2020
to
Oct 2023Sept 2021
to
Sept 2024Jul 2022
to
Jul 2025May 2023
to
May 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Union Equity Savings | 0.0 | 0.0 | 89.4 | 10.6 | 0.0 | 0.0 | 0.0 | 8.5% | 8.4% | 6.3% | 12.7% | 0% |
| Union Flexi Cap | 0.0 | 0.0 | 0.4 | 18.0 | 42.7 | 28.8 | 10.1 | 18.9% | 18.9% | 9.4% | 33.4% | 80% |
| BSE 500 TRI | 0.0 | 0.0 | 1.9 | 19.8 | 50.0 | 21.5 | 6.9 | 18.1% | 17.8% | 8.4% | 33.9% | -- |
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 BSE 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 17-08-2018. Past returns do not promise future returns.
Union Equity Savings vs Union Flexi 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 17-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Equity SavingsUnion Equity Savings Fund (Direct) | ₹9,90,000 | ₹13,18,876 | ₹3,28,876 | 6.8% |
| Union Flexi CapUnion Flexi Cap Fund (Direct) | ₹9,90,000 | ₹17,52,237 | ₹7,62,237 | 13.5% |
Union Equity SavingsUnion Equity Savings Fund (Direct)
Union Flexi CapUnion Flexi 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.
Union Equity Savings vs Union Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Union Equity Savings Fund (Direct) | Union Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.67% | −3.32% |
| Standard deviation | 5.27% | 14.78% |
| Sharpe ratio | -0.87 | -0.58 |
| Sortino ratio | -1.15 | -0.77 |
| Maximum drawdown | −4.5% (30-03-2026) | −13.9% (30-03-2026) |
| Beta | -- | 1.01 |
| Alpha | -- | +4.41% |
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 | Union Equity Savings Fund (Direct) | Union Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.60% | +10.74% |
| Standard deviation | 4.70% | 14.00% |
| Sharpe ratio | 0.12 | 0.34 |
| Sortino ratio | 0.16 | 0.45 |
| Maximum drawdown | −4.5% (30-03-2026) | −17.3% (28-02-2025) |
| Beta | -- | 0.96 |
| Alpha | -- | +0.98% |
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 | Union Equity Savings Fund (Direct) | Union Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.74% | +9.20% |
| Standard deviation | 4.59% | 13.70% |
| Sharpe ratio | -0.01 | 0.25 |
| Sortino ratio | -0.02 | 0.33 |
| Maximum drawdown | −5.8% (17-06-2022) | −18.9% (20-06-2022) |
| Beta | -- | 0.94 |
| Alpha | -- | +0.73% |
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 | Union Equity Savings Fund (Direct) | Union Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.35% | +12.63% |
| Standard deviation | 5.70% | 15.04% |
| Sharpe ratio | 0.37 | 0.44 |
| Sortino ratio | 0.49 | 0.59 |
| Maximum drawdown | −14.4% (23-03-2020) | −35.4% (23-03-2020) |
| Beta | -- | 0.93 |
| Alpha | -- | +0.26% |
From daily NAVs, 20-08-2018 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.
Union Equity Savings Fund (Direct)
Union Flexi Cap Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Union Equity Savings Fund (Direct) | −14.4% | 19-02-2020 | 23-03-2020 | 13-07-2020 | 4 months | −2.1% |
| Union Flexi Cap Fund (Direct) | −35.4% | 19-02-2020 | 23-03-2020 | 16-09-2020 | 6 months | −5.9% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 17-08-2018, 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.
Union Equity Savings Fund (Direct)
Union Flexi Cap Fund (Direct)
BSE 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.
Union Equity Savings Fund (Direct)
Union Flexi Cap Fund (Direct)
BSE 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.
Union Equity Savings Fund (Direct)
Union Flexi Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Union Equity Savings Fund (Direct) | 38% | 22% | 12.51% |
| Union Flexi Cap Fund (Direct) | 97% | 86% | 3.77% |
From month-end values since 17-08-2018. 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.
Union Equity Savings vs Union Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Union Equity Savings Fund, September 2026; Union Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 36.3%
- Held by both
- 47
- Only in Union Equity Savings
- 34
- Only in Union Flexi Cap
- 28
| Security | % of Union Equity Savings | % of Union Flexi Cap |
|---|---|---|
| HDFC Bank Ltd. | 4.85% | 4.51% |
| ICICI Bank Ltd. | 3.63% | 6.32% |
| Bharti Airtel Ltd. | 2.65% | 2.61% |
| Bajaj Finance Ltd. | 3.04% | 2.19% |
| Axis Bank Ltd. | 2.18% | 3.65% |
| Reliance Industries Ltd. | 2.33% | 1.43% |
| State Bank of India | 1.18% | 3.35% |
| Infosys Ltd. | 0.89% | 1.11% |
| Ujjivan Small Finance Bank Ltd. | 0.86% | 1.92% |
| Engineers India Ltd. | 0.81% | 1.07% |
| Sai Life Sciences Ltd. | 0.70% | 1.97% |
| Dr. Lal Path labs Ltd. | 0.67% | 1.38% |
| One 97 Communications Ltd. | 0.65% | 1.09% |
| Shadowfax Technologies Ltd. | 0.64% | 1.83% |
| CG Power and Industrial Solutions Ltd. | 0.60% | 0.72% |
| Delhivery Ltd. | 0.58% | 1.06% |
| Torrent Pharmaceuticals Ltd. | 0.58% | 1.66% |
| Maruti Suzuki India Ltd. | 0.57% | 0.72% |
| Trent Ltd. | 0.56% | 1.70% |
| Inventurus Knowledge Solutions Ltd. | 0.53% | 1.24% |
| Clean Max Enviro Energy Solutions Ltd. | 0.53% | 1.26% |
| Ather Energy Ltd. | 0.52% | 1.11% |
| Tata Consumer Products Ltd. | 0.55% | 0.49% |
| Gabriel India Ltd. | 0.48% | 1.97% |
| JSW Infrastructure Ltd. | 0.47% | 1.08% |
| Eternal Ltd. | 0.47% | 2.21% |
| Ajanta Pharma Ltd. | 0.47% | 1.75% |
| Mphasis Ltd. | 0.44% | 0.97% |
| Dhoot Transmission Ltd. | 0.44% | 1.28% |
| Cemindia Projects Ltd. | 0.43% | 1.70% |
| Varun Beverages Ltd. | 0.43% | 1.19% |
| Shriram Finance Ltd. | 0.42% | 1.06% |
| Data Patterns (India) Ltd. | 0.42% | 0.55% |
| Larsen & Toubro Ltd. | 0.40% | 0.49% |
| ZF Commercial Vehicle Control Systems India Ltd. | 0.40% | 1.42% |
| Aarti Industries Ltd. | 0.39% | 1.11% |
| Bharat Heavy Electricals Ltd. | 0.38% | 1.57% |
| Manipal Health Enterprises Ltd | 0.34% | 1.37% |
| Glaxosmithkline Pharmaceuticals Ltd. | 0.32% | 0.73% |
| Oil India Ltd. | 0.32% | 0.54% |
| Gokaldas Exports Ltd. | 0.30% | 0.71% |
| JSW Energy Ltd. | 0.29% | 0.69% |
| Sun Pharmaceutical Industries Ltd. | 0.27% | 0.94% |
| Billionbrains Garage Ventures Ltd. | 0.25% | 1.11% |
| E2E Networks Ltd. | 0.17% | 0.38% |
| 91 Day Treasury Bills | 2.81% | 0.06% |
| 91 Day Treasury Bills | 2.73% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 36.3% means 36.3% 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 Union Equity Savings Fund
| Security | % of fund |
|---|---|
| National Bank for Agriculture and Rural Development | 8.69% |
| Patanjali Foods Ltd. | 4.81% |
| 91 Day Treasury Bills | 4.37% |
| Indian Railway Finance Corporation Ltd. | 4.26% |
| Indus Towers Ltd. | 3.69% |
Largest holdings only in Union Flexi Cap Fund
| Security | % of fund |
|---|---|
| Divi's Laboratories Ltd. | 2.28% |
| Cholamandalam Investment & Finance Co. Ltd. | 1.61% |
| Navin Fluorine International Ltd. | 1.35% |
| HDFC Life Insurance Company Ltd. | 1.24% |
| Coforge Ltd. | 1.21% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Equity Savings | Union Flexi Cap |
|---|---|---|
| Equity | 69.5% | 95.0% |
| Debt | 26.3% | 0.1% |
| Cash and others | 4.2% | 4.9% |
Market cap of stocks
| Market cap | Union Equity Savings | Union Flexi Cap |
|---|---|---|
| Large Cap | 42.8% | 51.7% |
| Mid Cap | 14.4% | 12.5% |
| Small Cap | 11.5% | 26.4% |
| Not on AMFI's list | 0.8% | 4.5% |
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 | Union Equity Savings | Union Flexi Cap |
|---|---|---|
| Banks | 16.4% | 20.5% |
| Pharmaceuticals & Biotechnology | 4.4% | 10.1% |
| Telecom - Services | 6.3% | 2.6% |
| Finance | 3.5% | 5.9% |
| Agricultural Food & other Products | 5.4% | 1.0% |
| IT - Software | 1.3% | 4.8% |
| Auto Components | 1.3% | 4.7% |
| Retailing | 1.3% | 3.9% |
| Power | 3.5% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
Union Equity Savings vs Union Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Equity Savings Fund | Union Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.11% | 1.52% |
| Base expense ratio (Direct) | 1.25% | 0.85% |
| Total expense ratio (Regular) | 2.60% | 2.54% |
| Base expense ratio (Regular) | 1.66% | 1.73% |
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 Union Equity Savings with
Union Equity Savings Fund vs Union Flexi Cap Fund: Frequently Asked Questions
What is the difference between Union Equity Savings Fund and Union Flexi Cap Fund?
Union Equity Savings Fund is an Equity Savings fund, Union Flexi Cap Fund is a Flexi Cap fund, run by Union Mutual Fund. Their portfolios overlap 36.3%. Union Equity Savings Fund charges 2.11% a year and Union Flexi Cap Fund 1.52%.
Which has given higher returns, Union Equity Savings Fund or Union Flexi Cap Fund?
Over 1 year: Union Equity Savings Fund +0.67%, Union Flexi Cap Fund −3.32%. Over 3 years: Union Equity Savings Fund +6.60% a year, Union Flexi Cap Fund +10.74% a year. Over 5 years: Union Equity Savings Fund +5.74% a year, Union Flexi Cap Fund +9.20% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union Equity Savings Fund or Union Flexi Cap Fund?
Union Flexi Cap Fund charges less: 1.52% a year against 2.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Equity Savings Fund and Union Flexi Cap Fund overlap?
36.3%. They hold 47 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Union Equity Savings Fund or Union Flexi Cap Fund?
On SEBI's riskometer, Union Equity Savings Fund is rated Moderately High and Union Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 4.70% and 14.00% a year.
Which is better for SIP, Union Equity Savings Fund or Union Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,05,439 in Union Equity Savings Fund (XIRR 5.7% a year) and ₹7,68,424 in Union Flexi Cap Fund (XIRR 9.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Union Equity Savings Fund and Union Flexi Cap Fund?
Yes. 36.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Union Equity Savings Fund and Union Flexi Cap Fund?
Union Equity Savings Fund: Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal. Union Flexi Cap Fund: Sanjay Bembalkar, Vinod Malviya.
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.