JM Flexi Cap Fund vs Union Flexi Cap Fund
JM Flexi Cap Fund and Union Flexi Cap Fund are both Flexi Cap funds. As of 4 Nov 2026 (Direct plan, Growth option): 3-year CAGR +13.96% vs +11.66%, 5-year CAGR +14.32% vs +9.58%, volatility 17.10% vs 14.77%, maximum drawdown −34.95% vs −35.36%. Their portfolios overlap by 35.9% (26 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Union Mutual Fund |
| Compared as | Flexi Cap | Flexi Cap |
| NAV | ₹112.5060 | ₹58.6000 |
| NAV date | 4 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 2 Jan 2013 | 2 Jan 2013 |
| Track record | 13.8 yrs | 13.8 yrs |
| Fund size (AUM) | ₹5,036 Cr | ₹2,320 Cr |
| Securities held | 89 | 75 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| 1 month | +1.01% | +2.88% |
| 3 months | −3.25% | −2.22% |
| 6 months | +3.21% | +3.11% |
| 1 year | −0.01% | +0.83% |
| 3 years (CAGR) | +13.96% | +11.66% |
| 5 years (CAGR) | +14.32% | +9.58% |
| 7 years (CAGR) | +17.05% | +15.39% |
| 10 years (CAGR) | +16.04% | +13.41% |
| Since launch (CAGR) | +16.33% | +12.88% |
| SIP return (XIRR, 5 years) ⓘ | +12.97% | +10.24% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| 2026 (year to date) | +1.36% | +0.58% |
| 2025 | −5.65% | +4.17% |
| 2024 | +35.27% | +18.20% |
| 2023 | +41.55% | +28.97% |
| 2022 | +8.69% | +0.05% |
| 2021 | +33.98% | +38.27% |
Risk
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 17.10% | 14.77% |
| Downside volatility ⓘ | 11.81% | 10.85% |
| Sharpe ratio ⓘ | 0.44 | 0.35 |
| Sortino ratio ⓘ | 0.63 | 0.48 |
| Maximum drawdown ⓘ | −34.95% | −35.36% |
| Recovery from that fall | 8 months | 6 months |
| Current fall from peak | −8.92% | −2.72% |
| Rolling 1-year return: worst | −22.91% | −27.51% |
| Rolling 1-year return: median | +14.34% | +11.08% |
| Rolling 1-year return: best | +82.46% | +95.81% |
| Share of 1-year periods with a loss | 22.29% | 18.36% |
Against each fund's benchmark
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Beta ⓘ | 1.04 | 0.94 |
| Alpha (Jensen's, annualised) ⓘ | +2.68% | +0.76% |
| R² ⓘ | 86.32 | 94.21 |
| Upside capture | 114.35% | 98.41% |
| Downside capture | 105.85% | 93.93% |
| Tracking error | 6.51% | 3.77% |
| Information ratio | 0.43 | 0.16 |
| Treynor ratio | 6.26 | 4.58 |
Portfolio
Asset mix
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Equity | 97.68% | 95.02% |
| Cash & equivalents | 2.34% | 4.87% |
| Debt | 0.00% | 0.11% |
Market-cap split (share of fund assets)
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Large Cap | 49.36% | 51.69% |
| Mid Cap | 15.64% | 12.51% |
| Small Cap | 29.42% | 26.35% |
| Unclassified | 3.25% | 4.47% |
Concentration
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Top 10 holdings | 27.05% | 31.06% |
| Effective number of stocks ⓘ | 62.4 | 53.1 |
| Securities held | 89 | 75 |
Portfolio overlap: 35.9%
26 companies are held by both funds; by weight, 35.9% of the two portfolios is the same. That is a moderate overlap.
| Held by both | JM Flexi Cap | Union Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 4.44% | 6.32% |
| State Bank of India | 3.42% | 3.35% |
| HDFC Bank Limited | 2.55% | 4.51% |
| Bharti Airtel Limited | 2.23% | 2.61% |
| Divi's Laboratories Limited | 2.12% | 2.28% |
| Bharat Heavy Electricals Limited | 1.65% | 1.57% |
| Reliance Industries Limited | 2.65% | 1.43% |
| Eternal Limited | 1.40% | 2.21% |
| Ujjivan Small Finance Bank Limited | 1.34% | 1.92% |
| Bajaj Finance Limited | 1.17% | 2.19% |
| Navin Fluorine International Limited | 1.17% | 1.35% |
| Billionbrains Garage Ventures Ltd | 1.20% | 1.11% |
| One 97 Communications Limited | 2.12% | 1.09% |
| LG Electronics India Ltd | 1.44% | 1.08% |
| Shadowfax Technologies Limited | 1.07% | 1.83% |
Top 10 holdings
JM Flexi Cap
- ICICI Bank Limited4.44%
- State Bank of India3.42%
- Shriram Finance Limited2.66%
- Reliance Industries Limited2.65%
- HDFC Bank Limited2.55%
- Pine Labs Limited2.40%
- Larsen & Toubro Limited2.37%
- Bharti Airtel Limited2.23%
- Mahindra & Mahindra Limited2.22%
- One 97 Communications Limited2.12%
Union Flexi Cap
- ICICI Bank Limited6.32%
- HDFC Bank Limited4.51%
- Axis Bank Limited3.65%
- State Bank of India3.35%
- Bharti Airtel Limited2.61%
- Divi's Laboratories Limited2.28%
- Eternal Limited2.21%
- Bajaj Finance Limited2.19%
- Gabriel India Ltd.1.97%
- Sai Life Sciences Limited1.97%
Sector exposure
| JM Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Banks | 15.01% | 20.48% |
| Pharmaceuticals & Biotechnology | 4.63% | 10.11% |
| Auto Components | 7.30% | 4.67% |
| Finance | 4.46% | 5.87% |
| Electrical Equipment | 5.09% | 3.71% |
| IT - Software | 3.54% | 4.77% |
| Financial Technology (Fintech) | 4.52% | 1.09% |
| Consumer Durables | 4.31% | 2.66% |
| Automobiles | 3.94% | 1.83% |
| Retailing | 3.47% | 3.91% |
| Capital Markets | 3.89% | 3.20% |
| Transport Services | 2.31% | 3.82% |
| Construction | 2.37% | 3.26% |
| Chemicals & Petrochemicals | 3.17% | 2.46% |
Questions people ask
What is the difference between JM Flexi Cap and Union Flexi Cap returns?
As of 4 Nov 2026, Direct plan Growth option: 1-year return −0.01% vs +0.83%; 3-year CAGR +13.96% vs +11.66%; 5-year CAGR +14.32% vs +9.58%; 10-year CAGR +16.04% vs +13.41%. Past returns do not indicate future returns.
How do JM Flexi Cap and Union Flexi Cap compare on risk?
Volatility (36 monthly returns, annualised) 17.10% vs 14.77%; Sharpe ratio 0.44 vs 0.35; Sortino ratio 0.63 vs 0.48; maximum drawdown −34.95% vs −35.36%; beta 1.04 vs 0.94.
How much do JM Flexi Cap and Union Flexi Cap overlap?
By weight, 35.9% of the two portfolios is invested in the same companies; 26 stocks are held by both, the largest shared positions being ICICI Bank Limited, State Bank of India, HDFC Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of JM Flexi Cap and Union Flexi Cap?
JM Flexi Cap: large cap 49.4%, mid cap 15.6%, small cap 29.4%. Union Flexi Cap: large cap 51.7%, mid cap 12.5%, small cap 26.4% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
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JM Flexi Cap vs
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 4 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.