EquityLarge & Mid Cap FundRegularGrowthVery High

Union Large & Midcap Fund

Q: What is the NAV of Union Large & Midcap Fund?

As of 01 Oct 2026, the NAV of Union Large & Midcap Fund is ₹26.08 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Union Large & Midcap Fund delivered?

Union Large & Midcap Fund has returned +1.91% over 1 year, +10.40% per year over 3 years, +9.47% per year over 5 years and +15.09% 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 Union Large & Midcap Fund?

Union Large & Midcap Fund charges an expense ratio of 2.56% 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 Union Large & Midcap Fund?

Union Large & Midcap Fund's largest holdings are ICICI Bank Ltd. (5.1%), HDFC Bank Ltd. (2.7%), Bharti Airtel Ltd. (2.3%), One 97 Communications Ltd. (2.3%) and Eternal Ltd. (2.2%). Holdings are disclosed monthly and change over time.

Q: How risky is Union Large & Midcap Fund?

Union Large & Midcap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.4% and its worst peak-to-trough fall in our sample was -35.7%. 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 0.25 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Union Large & Midcap Fund's 0.25 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Union Large & Midcap Fund?

Union Large & Midcap Fund is benchmarked against the NIFTY LargeMidcap 250 Index (TRI). Its alpha and beta on this page are measured against that index.

Q: Who manages Union Large & Midcap Fund?

Union Large & Midcap Fund is managed by Vinod Malviya and Pratik Dharmshi at Union.

Q: How is Union Large & Midcap Fund taxed?

Union Large & Midcap 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.

Union Mutual Fund · Best Large & Mid Cap Mutual Funds

NAV

₹26.08

-0.72% 1D

as of 01 Oct 2026

This is the Regular plan of Union Large & Midcap Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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Performance

+2.67%CAGR

52-week rangePrev NAV ₹26.27

Latest ₹26.08

Low ₹23.0065th percentile of its 52-week rangeHigh ₹27.73

Scorecard

★★★☆☆3/5 vs 27 of 35 Large & Mid Cap Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Large & Mid Cap Fund (same plan and option). 27 of the 35 Large & Mid Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +10.40% · ranks 17 of 26 Large & Mid Cap Funds

RiskModerate

Volatility 15.4% vs 14.6% category avg

CostAverage

2.6% expense vs 2.4% category avg

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

Ahead of the Large & Mid Cap Fund average on 1M/3M/6M/1Y — 1Y by 2.74pp
Consistent — positive in 100% of rolling 3-year windows

Concerns

3-year return (+10.40%) trails the Large & Mid Cap Fund average (+11.37%)
5-year return (+9.47%) trails the Large & Mid Cap Fund average (+10.71%)
Weaker risk-adjusted returns — Sharpe 0.25 below the Large & Mid Cap Fund average of 0.32

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.56%

Category 2.38%▲0.18%

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

33.95

Category —

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

0.25

Category 0.32▼0.07

Scheme Info

Definitions

Plan

Regular · Growth

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

None

1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.

1.00%

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

₹1,000

NIFTY LargeMidcap 250 Index (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.

13 Dec 2019

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.82%

Absolute return over the last 3 months (not annualized)

-1.51%

Absolute return over the last 6 months (not annualized)

+11.50%

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

-0.19%

Annualized returns (≥1Y — CAGR)

Definitions

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

+1.91%

3-year annualized return (CAGR)

+10.40%

5-year annualized return (CAGR)

+9.47%

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.

+15.09%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.37%

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

0.25

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

0.34

Largest peak-to-trough decline over full history

-35.71%

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

-1.72%

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

0.80

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

91.1%

Excess return per unit of beta (market risk)

5.21

Active return over the benchmark per unit of tracking error

-0.55

Annualized std dev of fund-minus-benchmark returns

5.93%

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

79.4%

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

81.4%

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	-4.82%	-6.02%	+1.20%
3M abs	-1.51%	-3.94%	+2.43%
6M abs	+11.50%	+8.28%	+3.22%
1Y CAGR	+1.91%	-0.83%	+2.74%
3Y CAGR	+10.40%	+11.37%	-0.97%
5Y CAGR	+9.47%	+10.71%	-1.24%

Category average across peers in Large & Mid Cap Fund (up to 35 funds with data), 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.

Category rank

Vs 35 peers in Large & Mid Cap Fund

1Y return

+1.91%

Beats 78.1% · rank #8

3Y return

+10.40%

Beats 36% · rank #17

5Y return

+9.47%

Beats 28% · rank #19

Sharpe

0.25

Beats 32% · rank #18

Sortino

0.34

Beats 32% · rank #18

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

₹7.59L

Absolute

+26.54%

XIRR

+9.65%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Union Large & Midcap 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	-0.19%	-1.81%	+1.62%
2025	+2.19%	+6.24%	-4.05%
2024	+20.56%	+24.74%	-4.18%
2023	+26.63%	+45.27%	-18.64%
2022	-3.18%	+4.09%	-7.27%
2021	+38.73%	+48.31%	-9.58%
2020	+24.08%	+26.10%	-2.02%
2019part	+0.20%	+2.09%	-1.89%

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

1,678

Expense ratio

2.56%

AUM

₹911.08Cr

Portfolio turnover

95%

Exit load

1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.

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

P/E ratio

34.0

P/B ratio

6.3

Avg market cap

₹2,51,857Cr

P/E & P/B are portfolio-weighted harmonic means across 67 of 75 equity holdings (90% 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


Union Large & Midcap FundThis fund Union · Regular · Growth	★★★☆☆	+1.91%	+10.40%	+9.47%	—	2.56%	—
Invesco India Large & Mid Cap Fund Invesco · Regular · Growth	★★★★★	+4.75%	+19.76%	+14.91%	—	1.87%	—
Motilal Oswal Large and Midcap Fund Motilal Oswal · Regular · Growth	★★★★★	+4.53%	+19.09%	+16.69%	—	1.79%	₹17,050Cr
HSBC Large & Mid Cap Fund HSBC · Regular · Growth	★★★★☆	+6.13%	+14.98%	+12.35%	—	2.43%	—
Bandhan Large & Mid Cap Fund Bandhan · Regular · Growth	★★★★☆	+0.40%	+14.92%	+14.57%	—	2.27%	—
Axis Large & Mid Cap Fund Axis · Regular · Growth	★★★★★	+2.49%	+12.72%	+10.08%	—	1.87%	—

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap48.7%
Mid cap40.5%
Small cap10.9%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.64%
Cash & Equivalents1.31%
Debt0.05%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Union ELSS Tax Saver Fund Fund Union · ELSS	71.8%	★☆☆☆☆	1.71%	+9.29%
Union Midcap Fund Union · Mid Cap Fund	60.7%	★★★☆☆	1.09%	+15.40%
Union Children's Fund Union · Children’s Fund	57.1%	★★☆☆☆	1.45%	—
Union Multicap Fund Union · Multi Cap Fund	56.6%	★★☆☆☆	1.37%	+13.70%
Union Flexi Cap Fund Union · Flexi Cap Fund	56.2%	★★☆☆☆	1.50%	+10.07%
Union Balanced Advantage Fund Union · Dynamic Asset Allocation or Balanced Advantage	53.1% of 74% equity	★★★☆☆	1.46%	+7.57%
Union Retirement Fund Union · Retirement Fund	52.7%	★★★★☆	1.36%	+11.62%
Axis Large & Mid Cap Fund Axis · Large & Mid Cap Fund	49.0%	★★★★★	0.83%	+13.98%

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.

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.

-35.7%20 Feb 2020 → 23 Mar 2020
Fell over 32 days, back to the old high on 15 Sep 2020 — 6 months under water after the low.
-20.1%17 Jan 2022 → 20 Jun 2022
Fell over 5 months, back to the old high on 13 Jun 2023 — 12 months under water after the low.
-19.2%23 Sep 2024 → 28 Feb 2025
Fell over 5 months, back to the old high on 20 Jul 2026 — 17 months under water after the low.

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.

AMC Profile

Union Mutual Fund is sponsored by Union Bank of India, and was branded Union KBC until its Belgian joint-venture partner exited. It runs a small equity, hybrid and debt line-up.

Launched

29 Dec 2009

Total AUM

₹28,552Cr+1.6% QoQ

Avg AUM · July - September 2026

Website

unionmf.com

Fund Managers

VMVinod MalviyaManaging since 02 May 2024

Role

Co - Fund Manager

Education

Bachelor of Management Studies, M aster’s in Financial Management, CFA (USA) – Level III cleared

Experience

Over 16 years of experience in the Financial markets as an Analyst. Designated as Fund Manager - Equity with effect from December 09, 2024. Appointed as Co-Fund Manager with effect from January 25, 2023. February 2020 – January 24, 2023 with Union Asset Management Company Pvt. Ltd. as Research Analyst - Equity. July 2014 to January 2020 with Florintree Advisors Private Limited as Union Children’s Principal. August 2012 to June 2014 with East India Securities Limited as Research Analyst. September 2008 to July 2012 with Amit Nalin Securities Private Limited as Research Analyst

Funds managed (11)

All schemes Vinod Malviya runs →

PDPratik DharmshiManaging since 09 Dec 2024

Education

Chartered Accountant, B. Com

Experience

Industry experience: Over 14 years of experience in the field Union of Equity Research and Fund Management. Appointed as Fund Manager - Equity at Union Asset Management Company Private Limited with effect from December 06, 2024. March 2023 to December 2024 with UTI Pension Fund Limited as Equity Fund Manager. August 2022 to March 2023 with Safe Enterprises as Equity Analyst. April 2022 to August 2022 with Girik Capital as Equity Analyst. August 2017 to April 2019 with Edelweiss Asset Management Company Limited as Equity Analyst and from April 2019 to February 2022 with Edelweiss Asset Management Company Limited as Equity Fund Manager. December 2013 to August 2017 with JP Morgan Private Limited as Equity Analyst. January 2011 to December 2013 with Crisil Limited as Equity Analyst. April 2010 to August 2010 with Morgan Stanley Advantage Private Limited as Equity Analyst.

Funds managed (7)

All schemes Pratik Dharmshi 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

Vinod Malviya Pratik Dharmshi

Top holdings

ICICI Bank Ltd.HDFC Bank Ltd.Bharti Airtel Ltd.One 97 Communications Ltd.Eternal Ltd.Max Financial Services Ltd.Shriram Finance Ltd.Axis Bank Ltd.Jindal Steel Ltd.Multi Commodity Exchange of India Ltd.CG Power and Industrial Solutions Ltd.Solar Industries India Ltd.

Union 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.

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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 Union Large & Midcap Fund?

As of 01 Oct 2026, the NAV of Union Large & Midcap Fund is ₹26.08 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Union Large & Midcap Fund delivered?

Union Large & Midcap Fund has returned +1.91% over 1 year, +10.40% per year over 3 years, +9.47% per year over 5 years and +15.09% 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 Union Large & Midcap Fund?

Union Large & Midcap Fund charges an expense ratio of 2.56% 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 Union Large & Midcap Fund?

Union Large & Midcap Fund's largest holdings are ICICI Bank Ltd. (5.1%), HDFC Bank Ltd. (2.7%), Bharti Airtel Ltd. (2.3%), One 97 Communications Ltd. (2.3%) and Eternal Ltd. (2.2%). Holdings are disclosed monthly and change over time.

How risky is Union Large & Midcap Fund?

Union Large & Midcap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.4% and its worst peak-to-trough fall in our sample was -35.7%. 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 0.25 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Union Large & Midcap Fund's 0.25 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Union Large & Midcap Fund?

Union Large & Midcap Fund is benchmarked against the NIFTY LargeMidcap 250 Index (TRI). Its alpha and beta on this page are measured against that index.

Who manages Union Large & Midcap Fund?

Union Large & Midcap Fund is managed by Vinod Malviya and Pratik Dharmshi at Union.

How is Union Large & Midcap Fund taxed?

Union Large & Midcap 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.