EquityLarge & Mid Cap FundDirectIDCWVery High

Axis Large & Mid Cap Fund

Q: What is the NAV of Axis Large & Mid Cap Fund?

As of 05 Oct 2026, the NAV of Axis Large & Mid Cap Fund is ₹25.17 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Axis Large & Mid Cap Fund delivered?

Axis Large & Mid Cap Fund has returned -3.73% over 1 year, +5.79% per year over 3 years, +4.42% per year over 5 years and +12.30% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund charges an expense ratio of 0.83% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund's largest holdings are ICICI Bank Limited (4.6%), HDFC Bank Limited (3.2%), Divi's Laboratories Limited (2.7%), Eternal Limited (2.6%) and Sona BLW Precision Forgings Limited (2.5%). Holdings are disclosed monthly and change over time.

Q: How risky is Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.1% and its worst peak-to-trough fall in our sample was -31.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -0.05 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Axis Large & Mid Cap Fund's -0.05 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund is benchmarked against the NIFTY Large Midcap 250 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund is managed by Shreyash Devalkar, Hitesh Das, Mayank Hyanki and Krishnaa Narayan at Axis.

Q: How is Axis Large & Mid Cap Fund taxed?

Axis Large & Mid Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Axis Mutual Fund · Best Large & Mid Cap Mutual Funds

NAV

₹25.17

+0.84% 1D

as of 05 Oct 2026

This is the Direct plan of Axis Large & Mid Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+14.37% 3Y CAGR)

Performance

-4.37%absolute

52-week rangePrev NAV ₹24.96

Latest ₹25.17

Low ₹21.9464th percentile of its 52-week rangeHigh ₹27.01

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Equity funds (same plan and option) to rank against yet.

Performance—

Not enough Large & Mid Cap Fund peers to rank yet

Risk—

Volatility 15.1% (no category average yet)

Cost—

0.8% expense (no category average yet)

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.83%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

31.51

Category —

Excess return per unit of total volatility (rf = 6.5%)

-0.05

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

NIFTY Large Midcap 250 TRI

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

26 Oct 2018

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-4.19%

Absolute return over the last 3 months (not annualized)

-1.60%

Absolute return over the last 6 months (not annualized)

+12.47%

Absolute return since 1 Jan of this year (not annualized)

-5.80%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-3.73%

3-year annualized return (CAGR)

+5.79%

5-year annualized return (CAGR)

+4.42%

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+12.30%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.11%

Excess return per unit of total volatility (rf = 6.5%)

-0.05

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

-0.06

Largest peak-to-trough decline over full history

-31.89%

Benchmark ratios (vs Nifty Midcap 150 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty Midcap 150 TRI

-6.35%

Sensitivity to Nifty Midcap 150 TRI moves; 1 = moves with the index

0.84

How much of the fund's movement Nifty Midcap 150 TRI explains

81.6%

Excess return per unit of beta (market risk)

-0.88

Active return over the benchmark per unit of tracking error

-1.02

Annualized std dev of fund-minus-benchmark returns

8.00%

Fund's share of benchmark gains in up months (100 = matches index)

78.4%

Fund's share of benchmark losses in down months (lower is better)

103.3%

Computed vs the Nifty Midcap 150 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Large & Mid Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-4.19%	—	—
3M abs	-1.60%	—	—
6M abs	+12.47%	—	—
1Y CAGR	-3.73%	—	—
3Y CAGR	+5.79%	—	—
5Y CAGR	+4.42%	—	—

Category average across peers in Large & Mid Cap Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.77L

Absolute

+12.77%

XIRR

+4.90%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Axis Large & Mid Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty Midcap 150 TRI	Diff
2026part	-5.80%	-0.79%	-5.01%
2025	-2.30%	+6.24%	-8.54%
2024	+16.83%	+24.74%	-7.91%
2023	+27.71%	+45.27%	-17.56%
2022	-11.11%	+4.09%	-15.20%
2021	+34.24%	+48.31%	-14.07%
2020	+26.63%	+26.10%	+0.53%
2019	+18.69%	—	—
2018part	+2.00%	—	—

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

History points

1,961

Expense ratio

0.83%

AUM

₹16,881Cr

Portfolio turnover

61%

Exit load

Nil

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

31.5

P/B ratio

5.9

Avg market cap

₹2,91,040Cr

P/E & P/B are portfolio-weighted harmonic means across 78 of 102 equity holdings (82% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Large & Mid Cap Fund

Compare all


Axis Large & Mid Cap FundThis fund Axis · Direct · IDCW	—	-3.73%	+5.79%	+4.42%	—	0.83%	₹16,881Cr
Invesco India Large & Mid Cap Fund Invesco · Direct · IDCW	—	-2.46%	+14.88%	+12.10%	—	0.78%	₹12,010Cr
Quant Large & Mid Cap Fund quant · Direct · IDCW	—	+7.96%	+14.57%	+14.51%	—	1.21%	₹3,477Cr
UTI Large & Mid Cap Fund UTI · Direct · IDCW	—	-0.40%	+13.68%	+12.73%	—	1.13%	₹6,413Cr
Motilal Oswal Large and Midcap Fund Motilal Oswal · Direct · IDCW	—	-1.72%	+13.26%	+10.35%	—	0.89%	₹19,326Cr
Edelweiss Large & Mid Cap Fund Edelweiss · Direct · IDCW	—	+1.04%	+13.05%	+10.70%	—	0.67%	₹4,806Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 94% of the equity sleeve priced.

Large cap52.0%
Mid cap41.2%
Small cap6.9%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity95.57%
Cash & Equivalents2.88%
Other1.37%
Debt0.17%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

ICICI Bank Limited

4.63%

HDFC Bank Limited

3.21%

Divi's Laboratories Limited

2.66%

Eternal Limited

2.61%

Sona BLW Precision Forgings Limited

2.50%

Bharti Airtel Limited

2.23%

Shriram Finance Limited

2.05%

Multi Commodity Exchange of India Limited

1.97%

Axis Bank Limited

1.96%

Reliance Industries Limited

1.84%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Axis Multicap Fund Axis · Multi Cap Fund	66.8%	★★★★★	1.00%	+18.51%
Axis Value Fund Axis · Value Fund	57.0%	★★★★★	0.92%	+17.19%
Axis ELSS- Tax Saver Fund Axis · ELSS	53.0%	★★★☆☆	1.05%	+9.34%
Axis Retirement Fund - Aggressive Axis · Retirement Fund	50.2% of 75% equity	★★★☆☆	1.26%	+9.96%
Edelweiss Balanced Advantage Fund Edelweiss · Dynamic Asset Allocation or Balanced Advantage	49.4% of 83% equity	★★★☆☆	0.82%	+10.06%
Axis Midcap Fund Axis · Mid Cap Fund	49.2%	★★★☆☆	0.83%	+15.74%
Union Large & Midcap Fund Union · Large & Mid Cap Fund	49.0%	★★★☆☆	1.31%	+12.40%
Axis Retirement Fund - Dynamic Axis · Retirement Fund	49.0% of 80% equity	★★★☆☆	1.34%	+10.86%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

2 holdings — 1.61% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I1.48%
Cyient DLM LimitedLong-term · Stage I0.13%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-31.9%13 Feb 2020 → 23 Mar 2020
Fell over 39 days, back to the old high on 24 Aug 2020 — 5 months under water after the low.
-24.3%18 Oct 2021 → 20 Jun 2022
Fell over 8 months, back to the old high on 01 Sep 2023 — 14 months under water after the low.
-24.0%24 Sep 2024 → 30 Mar 2026
Still below that high — 1.5 years down, and no recovery yet.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹16,881Cr

July - September 2026

+11%

since January - March 2026

At or near its largest, ₹16,881Cr in July - September 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

AMC Profile

Axis Mutual Fund is run by Axis Asset Management, majority-owned by Axis Bank with the UK's Schroders holding the minority stake. It launched its first scheme in 2009 and grew quickly on a growth-oriented, quality-biased equity style.

Launched

03 Sep 2009

Total AUM

₹3,82,966Cr+3.8% QoQ

Avg AUM · July - September 2026

Website

axismf.com

Fund Managers

SDShreyash DevalkarManaging since 04 Aug 2023

Role

Head – Equity

Education

Bachelor in Chemical Masters in Management Studies

Experience

Asset August 04, 2023 – Management till date Company Ltd. (Head Equity) Axis Asset Nov. 16, Management 2016 to August 03, Company Ltd. 2023 (Senior Fund Manager - Equity) BNP Paribas Jan. 17, Asset Management 2011 to India Pvt. Ltd. Nov. 15, (Fund Manager) 2016 IDFC Asset July 24, Management 2008 to Company Ltd. Jan. 14, (Vice President - 2011 Research) IDFC Securities Sept. 07, Ltd. (Research 2005 to July Analyst) 23, 2008

Funds managed (6)

All schemes Shreyash Devalkar runs →

HDHitesh DasManaging since 03 Aug 2023

Experience

15 years, his last 10 are as follows: • Equity Research Analyst – Barclays Securities India Pvt. Ltd. (January 2012 – June 2015) • Equity Research Analyst – Credit Suisse Securities (India) Pvt. Ltd. (July 2011 – December 2012) • Equity Research Analyst – Ebusinessware (India) Pvt. Ltd. (February 2011 – June 2011) • Risk Analyst – Yes Bank (May 2010 – February 2011)

Funds managed (3)

All schemes Hitesh Das runs →

MHMayank HyankiManaging since 03 Jul 2026

Role

Fund Manger

Education

Bachelor of Technology, Post Graduate Diploma in Management

Experience

17 years, his last 10 years’ experience are as follows: • Axis Asset Management Company Ltd. (Dec. 2015 to till date) • Reliance Industries Ltd. (Apr. 2015 to Nov. -2015) • Birla Sun Life Asset Management Company 26 Ltd. (Mar. 2010 to Apr. 2015) • ING Investments (India) Pvt. Ltd. ( May 2008 to Mar. 2010)

Funds managed (3)

All schemes Mayank Hyanki runs →

KNKrishnaa NarayanManaging since 01 Mar 2024

Role

Fund Manager – Foreign Securities

Education

Chartered Accountant and Bachelor of Commerce (Accounts & Finance)

Experience

6 years • Axis Asset Managem ent Company Ltd. [Fund Manager - (For Foreign Securities)] - March 01, 2024 till date • Axis Asset Managem ent Company Ltd. (Junior Research Analyst – Equity) – May 12, 2021 – February 29, 2024 • Price Waterhous e & Co LLP - April 22, 2019 – May 07, 2021 of the Fund Manager

Funds managed (20)

All schemes Krishnaa Narayan runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Shreyash Devalkar Hitesh Das Mayank Hyanki Krishnaa Narayan

Top holdings

ICICI Bank Limited HDFC Bank Limited Divi's Laboratories Limited Eternal Limited Sona BLW Precision Forgings Limited Bharti Airtel Limited Shriram Finance Limited Multi Commodity Exchange of India Limited Axis Bank Limited Reliance Industries Limited Apar Industries Limited Larsen & Toubro Limited

Axis in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

Run SIP calculator Add to compare

Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Large & Mid Cap funds

Large & mid cap funds keep at least 35% each in large-cap and mid-cap stocks. They aim to blend the stability of big companies with the higher growth — and higher swings — of mid caps.

Frequently asked questions

What is the NAV of Axis Large & Mid Cap Fund?

As of 05 Oct 2026, the NAV of Axis Large & Mid Cap Fund is ₹25.17 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Axis Large & Mid Cap Fund delivered?

Axis Large & Mid Cap Fund has returned -3.73% over 1 year, +5.79% per year over 3 years, +4.42% per year over 5 years and +12.30% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund charges an expense ratio of 0.83% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund's largest holdings are ICICI Bank Limited (4.6%), HDFC Bank Limited (3.2%), Divi's Laboratories Limited (2.7%), Eternal Limited (2.6%) and Sona BLW Precision Forgings Limited (2.5%). Holdings are disclosed monthly and change over time.

How risky is Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.1% and its worst peak-to-trough fall in our sample was -31.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of -0.05 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Axis Large & Mid Cap Fund's -0.05 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund is benchmarked against the NIFTY Large Midcap 250 TRI. Its alpha and beta on this page are measured against that index.

Who manages Axis Large & Mid Cap Fund?

Axis Large & Mid Cap Fund is managed by Shreyash Devalkar, Hitesh Das, Mayank Hyanki and Krishnaa Narayan at Axis.

How is Axis Large & Mid Cap Fund taxed?

Axis Large & Mid Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.