Union Large & Midcap Fund vs Union Multicap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Large & Midcap Fund is a Large & Mid Cap fund and Union Multicap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, Union Large & Midcap Fund (Direct) returned 12.4% a year and Union Multicap Fund (Direct) returned 14.2% a year. Union Large & Midcap Fund charges 1.32% a year and Union Multicap Fund 1.39% (Direct plans). Their portfolios overlap 51.0%: they hold 47 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 Multicap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Multicap returned more over 3 years: 14.2% a year against 12.4%.
- Union Multicap returned more over 1 year: 2.5% against −0.7%.
- Union Large & Midcap costs less: 1.32% a year against 1.39% (Direct plans).
- Union Multicap swung less over 3 years: a standard deviation of 15.0% a year against 15.3%.
- Union Large & Midcap fell less in its worst fall since 26-12-2022: −18.7% against −19.8%.
- Union Large & Midcap holds more in large companies: 44.0% of the fund in large caps against 31.0%.
- Union Multicap is the larger fund: ₹1,516 Cr against ₹969 Cr.
- Their portfolios overlap 51.0%: 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 Large & Midcap Fund | Union Multicap Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | Large & Mid Cap | Multi Cap |
| AUM | ₹969 Cr (30-09-2026) | ₹1,516 Cr (30-09-2026) |
| NAV | ₹28.14 (Direct) | ₹17.49 (Direct) |
| Expense ratio (Direct) | 1.32% | 1.39% |
| Expense ratio (Regular) | 2.53% | 2.55% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 06-12-2019 | 19-12-2022 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Vinod Malviya, Pratik Dharmshi | Harshad Patwardhan, Sanjay Bembalkar |
| 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 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 |
|---|---|---|---|---|---|---|---|
| Union Large & Midcap Fund (Direct) | −1.54% | −2.90% | +2.96% | −0.74% | +12.37% | +10.31% | -- |
| Union Multicap Fund (Direct) | −1.63% | −2.51% | +4.54% | +2.52% | +14.18% | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
| 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.
Union Large & Midcap vs Union Multicap: Year-wise Returns
| Year | Large & MidcapUnion Large & Midcap | MulticapUnion Multicap |
|---|---|---|
| 2026to date | −0.07% | +3.55% |
| 2025 | +3.57% | +3.87% |
| 2024 | +22.26% | +24.03% |
| 2023 | +28.33% | +33.64% |
| 2022 | −1.87% | -- |
| 2021 | +40.05% | -- |
Union Large & Midcap vs Union Multicap: 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, 207 of them, one for each trading day from 26-12-2025 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.
Union Large & Midcap Fund (Direct)
Union Multicap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Jan 2026Mar 2023
to
Mar 2026May 2023
to
May 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 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 | 41.1 | 58.9 | 0.0 | 0.0 | 15.5% | 15.3% | 11.0% | 19.3% | 26% |
| Union Multicap | 0.0 | 0.0 | 0.0 | 13.5 | 70.5 | 15.9 | 0.0 | 17.7% | 17.6% | 13.1% | 21.2% | 100% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 31.9 | 59.9 | 8.2 | 0.0 | 16.3% | 16.4% | 10.1% | 20.9% | -- |
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 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 26-12-2022. Past returns do not promise future returns.
Union Large & Midcap vs Union 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 01-12-2022 to 30-10-2026: 47 instalments, ₹4,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Large & MidcapUnion Large & Midcap Fund (Direct) | ₹4,70,000 | ₹5,62,149 | ₹92,149 | 9.1% |
| Union MulticapUnion Multicap Fund (Direct) | ₹4,70,000 | ₹5,90,101 | ₹1,20,101 | 11.7% |
Union Large & MidcapUnion Large & Midcap Fund (Direct)
Union MulticapUnion 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.
Union Large & Midcap vs Union Multicap: 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 Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.74% | +2.52% |
| Standard deviation | 15.51% | 15.16% |
| Sharpe ratio | -0.39 | -0.18 |
| Sortino ratio | -0.52 | -0.24 |
| Maximum drawdown | −12.6% (30-03-2026) | −12.7% (23-03-2026) |
| Beta | 1.01 | 0.98 |
| Alpha | +5.90% | +8.30% |
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 Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.37% | +14.18% |
| Standard deviation | 15.31% | 15.01% |
| Sharpe ratio | 0.41 | 0.54 |
| Sortino ratio | 0.55 | 0.73 |
| Maximum drawdown | −18.7% (28-02-2025) | −19.8% (28-02-2025) |
| Beta | 1.01 | 0.97 |
| Alpha | +0.82% | +3.08% |
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 Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.18% | +16.48% |
| Standard deviation | 17.07% | 13.87% |
| Sharpe ratio | 0.65 | 0.74 |
| Sortino ratio | 0.85 | 1.00 |
| Maximum drawdown | −35.6% (23-03-2020) | −19.8% (28-02-2025) |
| Beta | 0.96 | 0.96 |
| Alpha | +0.71% | +3.62% |
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 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 |
|---|---|---|---|---|---|---|
| Union Large & Midcap Fund (Direct) | −18.7% | 23-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −6.6% |
| Union Multicap Fund (Direct) | −19.8% | 23-09-2024 | 28-02-2025 | 07-05-2026 | 14 months | −7.0% |
| NIFTY LargeMidcap 250 TRI | −18.8% | 26-09-2024 | 28-02-2025 | 17-11-2025 | 9 months | −8.6% |
From daily values since 26-12-2022, 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.
Union Large & Midcap Fund (Direct)
Union 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.
Union Large & Midcap Fund (Direct)
Union Multicap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Union Large & Midcap Fund (Direct) | 96% | 89% | 4.70% |
| Union Multicap Fund (Direct) | 105% | 88% | 4.89% |
From month-end values since 26-12-2022. 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.
Union Large & Midcap vs Union Multicap: Portfolio Overlap
From each fund's latest monthly portfolio: Union Large & Midcap Fund, September 2026; Union Multicap Fund, September 2026
Holdings in common
- Overlap
- 51.0%
- Held by both
- 47
- Only in Union Large & Midcap
- 34
- Only in Union Multicap
- 30
| Security | % of Union Large & Midcap | % of Union Multicap |
|---|---|---|
| ICICI Bank Ltd. | 4.84% | 4.20% |
| HDFC Bank Ltd. | 2.86% | 2.95% |
| One 97 Communications Ltd. | 2.49% | 2.09% |
| Multi Commodity Exchange of India Ltd. | 1.98% | 1.64% |
| Axis Bank Ltd. | 2.20% | 1.53% |
| LG Electronics India Ltd. | 1.53% | 1.61% |
| Shriram Finance Ltd. | 2.00% | 1.52% |
| Sai Life Sciences Ltd. | 1.51% | 1.86% |
| Bharat Heavy Electricals Ltd. | 1.52% | 1.49% |
| Navin Fluorine International Ltd. | 1.46% | 1.54% |
| Mphasis Ltd. | 1.44% | 1.76% |
| Larsen & Toubro Ltd. | 1.40% | 2.41% |
| The Phoenix Mills Ltd. | 1.74% | 1.37% |
| Bharti Airtel Ltd. | 2.32% | 1.35% |
| Marico Ltd. | 1.32% | 1.51% |
| Solar Industries India Ltd. | 1.84% | 1.31% |
| State Bank of India | 1.19% | 1.69% |
| Fortis Healthcare Ltd. | 1.57% | 1.16% |
| Info Edge (India) Ltd. | 1.13% | 1.65% |
| Reliance Industries Ltd. | 1.50% | 1.12% |
| Sona Blw Precision Forgings Ltd. | 1.46% | 1.09% |
| Gabriel India Ltd. | 1.05% | 1.77% |
| Ujjivan Small Finance Bank Ltd. | 1.17% | 1.02% |
| Torrent Pharmaceuticals Ltd. | 1.37% | 0.98% |
| Aditya Birla Capital Ltd. | 1.02% | 0.96% |
| Dixon Technologies (India) Ltd. | 0.95% | 1.96% |
| ZF Commercial Vehicle Control Systems India Ltd. | 1.18% | 0.94% |
| Max Financial Services Ltd. | 1.70% | 0.90% |
| Zydus Lifesciences Ltd. | 0.87% | 0.98% |
| GE Vernova T&D India Ltd. | 1.21% | 0.84% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.84% | 1.01% |
| Cummins India Ltd. | 0.98% | 0.83% |
| Nippon Life India Asset Management Ltd. | 1.16% | 0.80% |
| RBL Bank Ltd. | 0.79% | 1.20% |
| Acutaas Chemicals Ltd. | 0.79% | 0.99% |
| The Federal Bank Ltd. | 1.51% | 0.66% |
| Persistent Systems Ltd. | 0.63% | 1.13% |
| Coforge Ltd. | 0.51% | 1.33% |
| Tata Motors Ltd. | 0.50% | 0.96% |
| Aarti Industries Ltd. | 0.94% | 0.47% |
| Hindustan Copper Ltd. | 0.44% | 0.57% |
| TVS Motor Company Ltd. | 0.42% | 0.88% |
| Amber Enterprises India Ltd. | 0.90% | 0.41% |
| CarTrade Tech Ltd. | 0.39% | 1.55% |
| Prestige Estates Projects Ltd. | 0.23% | 1.16% |
| 91 Day Treasury Bills | 0.03% | 0.06% |
| 91 Day Treasury Bills | 0.03% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.0% means 51.0% 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 |
|---|---|
| INDO-MIM Ltd. | 2.64% |
| Eternal Ltd. | 2.28% |
| JSW Infrastructure Ltd. | 2.07% |
| Jindal Steel Ltd. | 2.01% |
| CG Power and Industrial Solutions Ltd. | 1.86% |
Largest holdings only in Union Multicap Fund
| Security | % of fund |
|---|---|
| Karur Vysya Bank Ltd. | 2.32% |
| Sun Pharmaceutical Industries Ltd. | 2.07% |
| S.J.S. Enterprises Ltd. | 2.02% |
| Radico Khaitan Ltd. | 1.70% |
| IPCA Laboratories Ltd. | 1.41% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Large & Midcap | Union Multicap |
|---|---|---|
| Equity | 98.2% | 92.7% |
| Debt | 0.1% | 0.1% |
| Cash and others | 1.7% | 7.2% |
Market cap of stocks
| Market cap | Union Large & Midcap | Union Multicap |
|---|---|---|
| Large Cap | 44.0% | 31.0% |
| Mid Cap | 38.6% | 29.9% |
| Small Cap | 12.5% | 31.7% |
| Not on AMFI's list | 3.1% | 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 | Union Large & Midcap | Union Multicap |
|---|---|---|
| Banks | 14.6% | 16.3% |
| Auto Components | 6.2% | 8.6% |
| Pharmaceuticals & Biotechnology | 7.9% | 8.3% |
| Electrical Equipment | 6.7% | 4.1% |
| Chemicals & Petrochemicals | 5.4% | 3.3% |
| Retailing | 5.2% | 3.2% |
| IT - Software | 4.8% | 4.2% |
| Industrial Products | 4.3% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
Union Large & Midcap vs Union Multicap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Large & Midcap Fund | Union Multicap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.32% | 1.39% |
| Base expense ratio (Direct) | 0.88% | 0.83% |
| Total expense ratio (Regular) | 2.53% | 2.55% |
| Base expense ratio (Regular) | 1.94% | 1.82% |
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 Multicap Fund: Frequently Asked Questions
What is the difference between Union Large & Midcap Fund and Union Multicap Fund?
Union Large & Midcap Fund is a Large & Mid Cap fund, Union Multicap Fund is a Multi Cap fund, run by Union Mutual Fund. Their portfolios overlap 51.0%. Union Large & Midcap Fund charges 1.32% a year and Union Multicap Fund 1.39%.
Which has given higher returns, Union Large & Midcap Fund or Union Multicap Fund?
Over 1 year: Union Large & Midcap Fund −0.74%, Union Multicap Fund +2.52%. Over 3 years: Union Large & Midcap Fund +12.37% a year, Union Multicap Fund +14.18% 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 Multicap Fund?
Union Large & Midcap Fund charges less: 1.32% a year against 1.39%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Large & Midcap Fund and Union Multicap Fund overlap?
51.0%. They hold 47 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, PAYTM. From each fund's latest monthly portfolio.
Which is riskier, Union Large & Midcap Fund or Union Multicap Fund?
On SEBI's riskometer, Union Large & Midcap Fund is rated Very High and Union Multicap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.31% and 15.01% a year.
Which is better for SIP, Union Large & Midcap Fund or Union Multicap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,04,650 in Union Large & Midcap Fund (XIRR 5.8% a year) and ₹4,18,952 in Union Multicap Fund (XIRR 8.0% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Union Large & Midcap Fund and Union Multicap Fund?
Yes. 51.0% 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 Multicap Fund?
Union Large & Midcap Fund: Vinod Malviya, Pratik Dharmshi. Union Multicap Fund: Harshad Patwardhan, Sanjay Bembalkar.
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.