Union Large & Midcap Fund vs Union Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Large & Midcap Fund is a Large & Mid Cap fund and Union Midcap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, Union Large & Midcap Fund (Direct) returned 12.4% a year and Union Midcap Fund (Direct) returned 15.6% a year. Union Large & Midcap Fund charges 1.32% a year and Union Midcap Fund 1.08% (Direct plans). Their portfolios overlap 59.9%: they hold 55 of the same securities.
Union Large & Midcap Fund
Large & Mid Cap
- 3 year return
- 12.4%
- Expense ratio
- 1.32%
- NAV
- ₹28.14
Which is better, Union Large & Midcap or Union Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Midcap returned more over 5 years: 13.8% a year against 10.3%.
- Union Midcap returned more over 3 years: 15.6% a year against 12.4%.
- Union Midcap costs less: 1.08% a year against 1.32% (Direct plans).
- Union Large & Midcap swung less over 3 years: a standard deviation of 15.3% a year against 16.8%.
- Union Large & Midcap fell less in its worst fall since 30-03-2020: −19.6% against −21.3%.
- Union Large & Midcap holds more in large companies: 44.0% of the fund in large caps against 15.6%.
- Union Midcap is the larger fund: ₹1,906 Cr against ₹969 Cr.
- Their portfolios overlap 59.9%: 55 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 Large & Midcap Fund | Union Midcap Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | Large & Mid Cap | Mid Cap |
| AUM | ₹969 Cr (30-09-2026) | ₹1,906 Cr (30-09-2026) |
| NAV | ₹28.14 (Direct) | ₹53.40 (Direct) |
| Expense ratio (Direct) | 1.32% | 1.08% |
| Expense ratio (Regular) | 2.53% | 2.39% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | BSE Midcap 150 TRI |
| Launch date | 06-12-2019 | 23-03-2020 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Vinod Malviya, Pratik Dharmshi | Gaurav Chopra, Pratik Dharmshi |
| Exit load | Exit load of 1%, if redeemed within 15 days. | Exit load of 1%, if redeemed within 15 days. |
Union Large & Midcap vs Union 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 |
|---|---|---|---|---|---|---|---|
| Union Large & Midcap Fund (Direct) | −1.54% | −2.90% | +2.96% | −0.74% | +12.37% | +10.31% | -- |
| Union Midcap Fund (Direct) | −2.89% | −4.59% | +1.33% | +0.66% | +15.60% | +13.79% | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | +12.95% | -- |
Category average: the average of the 36 Large & Mid Cap funds and the 34 Mid Cap funds, same plan type.
Union Large & Midcap vs Union Midcap: Year-wise Returns
| Year | Large & MidcapUnion Large & Midcap | MidcapUnion Midcap |
|---|---|---|
| 2026to date | −0.07% | +1.41% |
| 2025 | +3.57% | +3.68% |
| 2024 | +22.26% | +30.50% |
| 2023 | +28.33% | +34.21% |
| 2022 | −1.87% | −0.82% |
| 2021 | +40.05% | +53.98% |
Union Large & Midcap vs Union Midcap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of Union Large & Midcap Fund
Rolling returns
Every 3-year holding period, 880 of them, one for each trading day from 31-03-2023 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 Large & Midcap Fund (Direct)
Union Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Jul 2023Feb 2021
to
Feb 2024Sept 2021
to
Sept 2024May 2022
to
May 2025Dec 2022
to
Dec 2025Jul 2023
to
Jul 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 Large & Midcap | 0.0 | 0.0 | 0.0 | 18.3 | 43.3 | 27.6 | 10.8 | 18.9% | 18.2% | 11.0% | 32.0% | 6% |
| Union Midcap | 0.0 | 0.0 | 0.0 | 0.6 | 24.3 | 41.5 | 33.6 | 23.9% | 22.7% | 14.2% | 39.7% | 100% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 8.8 | 40.5 | 34.2 | 16.6 | 20.7% | 20.1% | 10.1% | 34.6% | -- |
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 30-03-2020. Past returns do not promise future returns.
Union Large & Midcap vs Union 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 02-03-2020 to 30-10-2026: 80 instalments, ₹8,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Large & MidcapUnion Large & Midcap Fund (Direct) | ₹8,00,000 | ₹12,74,354 | ₹4,74,354 | 13.8% |
| Union MidcapUnion Midcap Fund (Direct) | ₹8,00,000 | ₹14,77,594 | ₹6,77,594 | 18.2% |
Union Large & MidcapUnion Large & Midcap Fund (Direct)
Union MidcapUnion 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.
Union Large & Midcap vs Union Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Union Large & Midcap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.74% | +0.66% |
| Standard deviation | 15.51% | 16.64% |
| Sharpe ratio | -0.39 | -0.28 |
| Sortino ratio | -0.52 | -0.37 |
| Maximum drawdown | −12.6% (30-03-2026) | −12.1% (23-10-2026) |
| Beta | 1.01 | 0.99 |
| Alpha | +5.90% | +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 | Union Large & Midcap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.37% | +15.60% |
| Standard deviation | 15.31% | 16.83% |
| Sharpe ratio | 0.41 | 0.57 |
| Sortino ratio | 0.55 | 0.76 |
| Maximum drawdown | −18.7% (28-02-2025) | −21.3% (28-02-2025) |
| Beta | 1.01 | 0.96 |
| Alpha | +0.82% | +2.40% |
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 Large & Midcap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.31% | +13.79% |
| Standard deviation | 14.63% | 15.87% |
| Sharpe ratio | 0.31 | 0.50 |
| Sortino ratio | 0.41 | 0.67 |
| Maximum drawdown | −19.6% (20-06-2022) | −21.3% (28-02-2025) |
| Beta | 0.96 | 0.92 |
| Alpha | −0.10% | +1.25% |
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 Large & Midcap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.18% | +28.22% |
| Standard deviation | 17.07% | 16.03% |
| Sharpe ratio | 0.65 | 1.44 |
| Sortino ratio | 0.85 | 1.99 |
| Maximum drawdown | −35.6% (23-03-2020) | −21.3% (28-02-2025) |
| Beta | 0.96 | 0.89 |
| Alpha | +0.71% | +3.23% |
From daily NAVs, 13-12-2019 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 Large & Midcap Fund (Direct)
Union Midcap 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 |
|---|---|---|---|---|---|---|
| Union Large & Midcap Fund (Direct) | −19.6% | 17-01-2022 | 20-06-2022 | 05-06-2023 | 11 months | −6.6% |
| Union Midcap Fund (Direct) | −21.3% | 23-09-2024 | 28-02-2025 | 20-10-2025 | 8 months | −9.3% |
| NIFTY LargeMidcap 250 TRI | −18.9% | 18-10-2021 | 20-06-2022 | 12-09-2022 | 3 months | −8.6% |
From daily values since 30-03-2020, 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 Large & Midcap Fund (Direct)
Union Midcap 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.
Union Large & Midcap Fund (Direct)
Union Midcap 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.
Union Large & Midcap Fund (Direct)
Union Midcap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Union Large & Midcap Fund (Direct) | 96% | 94% | 5.07% |
| Union Midcap Fund (Direct) | 108% | 89% | 7.23% |
From month-end values since 30-03-2020. 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 Large & Midcap vs Union Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Union Large & Midcap Fund, September 2026; Union Midcap Fund, September 2026
Holdings in common
- Overlap
- 59.9%
- Held by both
- 55
- Only in Union Large & Midcap
- 26
- Only in Union Midcap
- 22
| Security | % of Union Large & Midcap | % of Union Midcap |
|---|---|---|
| One 97 Communications Ltd. | 2.49% | 3.10% |
| Multi Commodity Exchange of India Ltd. | 1.98% | 2.90% |
| Ajanta Pharma Ltd. | 1.81% | 2.08% |
| Solar Industries India Ltd. | 1.84% | 1.75% |
| The Phoenix Mills Ltd. | 1.74% | 2.00% |
| UNO Minda Ltd. | 1.79% | 1.72% |
| Max Financial Services Ltd. | 1.70% | 2.59% |
| JSW Infrastructure Ltd. | 2.07% | 1.68% |
| Jindal Steel Ltd. | 2.01% | 1.65% |
| JSW Energy Ltd. | 1.65% | 1.74% |
| Shriram Finance Ltd. | 2.00% | 1.61% |
| Fortis Healthcare Ltd. | 1.57% | 2.18% |
| Axis Bank Ltd. | 2.20% | 1.53% |
| LG Electronics India Ltd. | 1.53% | 1.68% |
| Bharat Heavy Electricals Ltd. | 1.52% | 2.12% |
| The Federal Bank Ltd. | 1.51% | 3.04% |
| Sai Life Sciences Ltd. | 1.51% | 1.49% |
| Sona Blw Precision Forgings Ltd. | 1.46% | 1.80% |
| Mphasis Ltd. | 1.44% | 2.04% |
| APL Apollo Tubes Ltd. | 1.37% | 1.68% |
| Marico Ltd. | 1.32% | 1.71% |
| Apar Industries Ltd. | 1.30% | 1.87% |
| GE Vernova T&D India Ltd. | 1.21% | 2.38% |
| ZF Commercial Vehicle Control Systems India Ltd. | 1.18% | 1.35% |
| Ujjivan Small Finance Bank Ltd. | 1.17% | 1.62% |
| Aether Industries Ltd. | 1.17% | 1.18% |
| Nippon Life India Asset Management Ltd. | 1.16% | 2.19% |
| Info Edge (India) Ltd. | 1.13% | 1.76% |
| Aditya Birla Capital Ltd. | 1.02% | 1.36% |
| CG Power and Industrial Solutions Ltd. | 1.86% | 0.99% |
| Gabriel India Ltd. | 1.05% | 0.98% |
| Cummins India Ltd. | 0.98% | 1.08% |
| Dixon Technologies (India) Ltd. | 0.95% | 1.37% |
| Aarti Industries Ltd. | 0.94% | 1.05% |
| AIA Engineering Ltd. | 0.98% | 0.92% |
| Amber Enterprises India Ltd. | 0.90% | 0.92% |
| Grindwell Norton Ltd. | 0.83% | 0.80% |
| RBL Bank Ltd. | 0.79% | 1.42% |
| Acutaas Chemicals Ltd. | 0.79% | 1.00% |
| Varun Beverages Ltd. | 0.94% | 0.76% |
| Zydus Lifesciences Ltd. | 0.87% | 0.75% |
| Schaeffler India Ltd. | 0.70% | 0.99% |
| Persistent Systems Ltd. | 0.63% | 0.76% |
| BSE Ltd. | 0.58% | 1.02% |
| Coforge Ltd. | 0.51% | 2.01% |
| Tata Motors Ltd. | 0.50% | 0.76% |
| JK Cement Ltd. | 0.49% | 0.54% |
| HDFC Life Insurance Company Ltd. | 0.51% | 0.48% |
| FSN E-Commerce Ventures Ltd. | 1.37% | 0.43% |
| CarTrade Tech Ltd. | 0.39% | 0.86% |
| Navin Fluorine International Ltd. | 1.46% | 0.29% |
| Prestige Estates Projects Ltd. | 0.23% | 1.79% |
| KEI Industries Ltd. | 0.19% | 0.89% |
| 91 Day Treasury Bills | 0.03% | 0.03% |
| 91 Day Treasury Bills | 0.03% | 0.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 59.9% means 59.9% 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 Large & Midcap Fund
| Security | % of fund |
|---|---|
| ICICI Bank Ltd. | 4.84% |
| HDFC Bank Ltd. | 2.86% |
| INDO-MIM Ltd. | 2.64% |
| Bharti Airtel Ltd. | 2.32% |
| Eternal Ltd. | 2.28% |
Largest holdings only in Union Midcap Fund
| Security | % of fund |
|---|---|
| IPCA Laboratories Ltd. | 2.49% |
| Bharti Hexacom Ltd. | 1.71% |
| SRF Ltd. | 1.47% |
| L&T Finance Ltd. | 1.47% |
| Billionbrains Garage Ventures Ltd. | 1.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Large & Midcap | Union Midcap |
|---|---|---|
| Equity | 98.2% | 98.1% |
| Debt | 0.1% | 0.1% |
| Cash and others | 1.7% | 1.8% |
Market cap of stocks
| Market cap | Union Large & Midcap | Union Midcap |
|---|---|---|
| Large Cap | 44.0% | 15.6% |
| Mid Cap | 38.6% | 66.5% |
| Small Cap | 12.5% | 15.5% |
| Not on AMFI's list | 3.1% | 0.5% |
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 Large & Midcap | Union Midcap |
|---|---|---|
| Banks | 14.6% | 9.1% |
| Auto Components | 6.2% | 9.8% |
| Pharmaceuticals & Biotechnology | 7.9% | 8.6% |
| Electrical Equipment | 6.7% | 7.4% |
| Capital Markets | 4.5% | 7.3% |
| Chemicals & Petrochemicals | 5.4% | 5.7% |
| Retailing | 5.2% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
Union Large & Midcap vs Union Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Large & Midcap Fund | Union Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.32% | 1.08% |
| Base expense ratio (Direct) | 0.88% | 0.66% |
| Total expense ratio (Regular) | 2.53% | 2.39% |
| Base expense ratio (Regular) | 1.94% | 1.78% |
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 Large & Midcap with
Union Large & Midcap Fund vs Union Midcap Fund: Frequently Asked Questions
What is the difference between Union Large & Midcap Fund and Union Midcap Fund?
Union Large & Midcap Fund is a Large & Mid Cap fund, Union Midcap Fund is a Mid Cap fund, run by Union Mutual Fund. Their portfolios overlap 59.9%. Union Large & Midcap Fund charges 1.32% a year and Union Midcap Fund 1.08%.
Which has given higher returns, Union Large & Midcap Fund or Union Midcap Fund?
Over 1 year: Union Large & Midcap Fund −0.74%, Union Midcap Fund +0.66%. Over 3 years: Union Large & Midcap Fund +12.37% a year, Union Midcap Fund +15.60% a year. Over 5 years: Union Large & Midcap Fund +10.31% a year, Union Midcap Fund +13.79% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union Large & Midcap Fund or Union Midcap Fund?
Union Midcap Fund charges less: 1.08% a year against 1.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Large & Midcap Fund and Union Midcap Fund overlap?
59.9%. They hold 55 of the same securities, the largest shared ones being PAYTM, MCX, AJANTPHARM. From each fund's latest monthly portfolio.
Which is riskier, Union Large & Midcap Fund or Union Midcap Fund?
On SEBI's riskometer, Union Large & Midcap Fund is rated Very High and Union Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.31% and 16.83% a year.
Which is better for SIP, Union Large & Midcap Fund or Union Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,97,153 in Union Large & Midcap Fund (XIRR 10.5% a year) and ₹8,58,918 in Union Midcap Fund (XIRR 13.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Union Large & Midcap Fund and Union Midcap Fund?
Yes. 59.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Union Large & Midcap Fund and Union Midcap Fund?
Union Large & Midcap Fund: Vinod Malviya, Pratik Dharmshi. Union Midcap Fund: Gaurav Chopra, Pratik Dharmshi.
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.