JM Value Fund vs SBI CONTRA FUND
JM Value Fund and SBI CONTRA FUND are both Value / Contra funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +11.17% vs +11.81%, 5-year CAGR +13.07% vs +14.15%, volatility 19.42% vs 13.88%, maximum drawdown −37.93% vs −44.74%. Their portfolios overlap by 17.5% (15 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 Value | SBI CONTRA | |
|---|---|---|
| Fund house | JM Financial Mutual Fund | SBI Mutual Fund |
| Compared as | Value / Contra | Value / Contra |
| NAV | ₹106.7535 | ₹414.5407 |
| NAV date | 6 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 2 Jan 2013 | 2 Jan 2013 |
| Track record | 13.8 yrs | 13.8 yrs |
| Fund size (AUM) | ₹780 Cr | ₹45,068 Cr |
| Securities held | 74 | 93 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| JM Value | SBI CONTRA | |
|---|---|---|
| 1 month | −1.53% | +4.05% |
| 3 months | −3.38% | −1.43% |
| 6 months | −0.31% | −0.33% |
| 1 year | −2.23% | −3.17% |
| 3 years (CAGR) | +11.17% | +11.81% |
| 5 years (CAGR) | +13.07% | +14.15% |
| 7 years (CAGR) | +16.87% | +21.21% |
| 10 years (CAGR) | +15.28% | +15.69% |
| Since launch (CAGR) | +15.43% | +15.05% |
| SIP return (XIRR, 5 years) ⓘ | +11.61% | +11.24% |
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 Value | SBI CONTRA | |
|---|---|---|
| 2026 (year to date) | −1.86% | −5.19% |
| 2025 | −3.20% | +7.02% |
| 2024 | +26.72% | +19.94% |
| 2023 | +48.68% | +39.53% |
| 2022 | +6.05% | +13.63% |
| 2021 | +37.17% | +50.98% |
Risk
| JM Value | SBI CONTRA | |
|---|---|---|
| Volatility (annualised) ⓘ | 19.42% | 13.88% |
| Downside volatility ⓘ | 13.08% | 9.84% |
| Sharpe ratio ⓘ | 0.24 | 0.38 |
| Sortino ratio ⓘ | 0.36 | 0.54 |
| Maximum drawdown ⓘ | −37.93% | −44.74% |
| Recovery from that fall | 8 months | 8 months |
| Current fall from peak | −13.26% | −5.89% |
| Rolling 1-year return: worst | −31.13% | −36.07% |
| Rolling 1-year return: median | +13.36% | +13.59% |
| Rolling 1-year return: best | +96.22% | +124.05% |
| Share of 1-year periods with a loss | 23.67% | 21.57% |
Against each fund's benchmark
| JM Value | SBI CONTRA | |
|---|---|---|
| Beta ⓘ | 1.14 | 0.89 |
| Alpha (Jensen's, annualised) ⓘ | −0.34% | +0.50% |
| R² ⓘ | 81.99 | 95.47 |
| Upside capture | 116.03% | 92.33% |
| Downside capture | 125.80% | 86.62% |
| Tracking error | 8.64% | 3.48% |
| Information ratio | -0.05 | 0.07 |
| Treynor ratio | 2.85 | 4.41 |
Portfolio
Asset mix
| JM Value | SBI CONTRA | |
|---|---|---|
| Equity | 98.83% | 88.57% |
| Cash & equivalents | 1.22% | 5.81% |
| Foreign Securities | 0.00% | 2.37% |
| Debt | 0.00% | 2.24% |
| REITs / InvITs | 0.00% | 1.01% |
Market-cap split (share of fund assets)
| JM Value | SBI CONTRA | |
|---|---|---|
| Large Cap | 32.30% | 50.21% |
| Mid Cap | 7.02% | 24.54% |
| Small Cap | 55.67% | 13.82% |
| Unclassified | 3.79% | 0.00% |
Concentration
| JM Value | SBI CONTRA | |
|---|---|---|
| Top 10 holdings | 30.26% | 32.77% |
| Effective number of stocks ⓘ | 52.8 | 55.3 |
| Securities held | 74 | 93 |
Portfolio overlap: 17.5%
15 companies are held by both funds; by weight, 17.5% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | JM Value | SBI CONTRA |
|---|---|---|
| ICICI Bank Limited | 3.78% | 4.36% |
| HDFC Bank Limited | 1.82% | 4.79% |
| Tech Mahindra Limited | 2.52% | 1.79% |
| Bajaj Auto Limited | 1.41% | 1.35% |
| Axis Bank Limited | 1.26% | 1.33% |
| Bharti Airtel Limited | 2.70% | 1.23% |
| Tata Motors Ltd | 2.55% | 1.16% |
| Cipla Limited | 1.47% | 1.15% |
| Larsen & Toubro Limited | 3.38% | 0.84% |
| Apar Industries Limited | 1.05% | 0.65% |
| Whirlpool of India Ltd. | 0.63% | 0.80% |
| Infosys Limited | 2.43% | 0.61% |
| Life Insurance Corporation Of India | 1.88% | 0.54% |
| Equitas Small Finance Bank Limited | 1.64% | 0.51% |
| V-Guard Industries Ltd. | 0.48% | 0.18% |
Top 10 holdings
JM Value
- Redington Limited4.70%
- ICICI Bank Limited3.78%
- Shriram Finance Limited3.40%
- Larsen & Toubro Limited3.38%
- Bharti Airtel Limited2.70%
- Tata Motors Ltd2.55%
- Jana Small Finance Bank Ltd2.55%
- Tech Mahindra Limited2.52%
- Infosys Limited2.43%
- JK Tyre & Industries Limited2.26%
SBI CONTRA
- HDFC Bank Limited4.79%
- Reliance Industries Limited4.67%
- ICICI Bank Limited4.36%
- Biocon Ltd.3.29%
- Kotak Mahindra Bank Limited3.15%
- Punjab National Bank2.91%
- Indus Towers Limited2.66%
- Torrent Power Ltd.2.48%
- GAIL (India) Ltd.2.33%
- Tata Steel Ltd.2.13%
Sector exposure
| JM Value | SBI CONTRA | |
|---|---|---|
| Banks | 11.32% | 20.20% |
| Finance | 10.80% | 1.95% |
| Auto Components | 7.91% | 1.37% |
| Pharmaceuticals & Biotechnology | 2.93% | 6.70% |
| Petroleum Products | 0.54% | 5.75% |
| Construction | 5.63% | 1.16% |
| Electrical Equipment | 5.17% | 0.65% |
| Power | 1.52% | 5.04% |
| IT - Software | 4.94% | 3.56% |
| Commercial Services & Supplies | 4.70% | 0.00% |
| Industrial Products | 4.47% | 1.93% |
| Automobiles | 1.41% | 3.94% |
| Agricultural, Commercial & Construction Vehicles | 3.90% | 1.16% |
| Telecom - Services | 2.70% | 3.89% |
Questions people ask
What is the difference between JM Value and SBI CONTRA returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return −2.23% vs −3.17%; 3-year CAGR +11.17% vs +11.81%; 5-year CAGR +13.07% vs +14.15%; 10-year CAGR +15.28% vs +15.69%. Past returns do not indicate future returns.
How do JM Value and SBI CONTRA compare on risk?
Volatility (36 monthly returns, annualised) 19.42% vs 13.88%; Sharpe ratio 0.24 vs 0.38; Sortino ratio 0.36 vs 0.54; maximum drawdown −37.93% vs −44.74%; beta 1.14 vs 0.89.
How much do JM Value and SBI CONTRA overlap?
By weight, 17.5% of the two portfolios is invested in the same companies; 15 stocks are held by both, the largest shared positions being ICICI Bank Limited, HDFC Bank Limited, Tech Mahindra Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of JM Value and SBI CONTRA?
JM Value: large cap 32.3%, mid cap 7.0%, small cap 55.7%. SBI CONTRA: large cap 50.2%, mid cap 24.5%, small cap 13.8% (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.
More comparisons
JM Value 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 6 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.