Mahindra Manulife Large Cap Fund vs Nippon India Large Cap Fund
Mahindra Manulife Large Cap Fund and Nippon India Large Cap Fund are both Large Cap funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +11.52% vs +12.79%, 5-year CAGR +8.93% vs +13.08%, volatility 14.63% vs 14.43%, maximum drawdown −35.27% vs −39.96%. Their portfolios overlap by 52.7% (24 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
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | Nippon India Mutual Fund |
| Compared as | Large Cap | Large Cap |
| NAV | ₹26.1545 | ₹102.8599 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 19 Mar 2019 | 2 Jan 2013 |
| Track record | 7.6 yrs | 13.8 yrs |
| Fund size (AUM) | ₹653 Cr | ₹51,296 Cr |
| Securities held | 44 | 69 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| 1 month | +9.42% | +7.57% |
| 3 months | +1.16% | +0.09% |
| 6 months | +4.45% | +2.35% |
| 1 year | −0.33% | −0.78% |
| 3 years (CAGR) | +11.52% | +12.79% |
| 5 years (CAGR) | +8.93% | +13.08% |
| 7 years (CAGR) | +13.18% | +15.55% |
| 10 years (CAGR) | — | +14.86% |
| Since launch (CAGR) | +13.39% | +15.09% |
| SIP return (XIRR, 5 years) ⓘ | +9.36% | +12.00% |
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
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| 2026 (year to date) | −3.28% | −2.36% |
| 2025 | +11.28% | +10.08% |
| 2024 | +14.73% | +19.30% |
| 2023 | +23.99% | +33.23% |
| 2022 | +3.87% | +12.30% |
| 2021 | +31.99% | +33.42% |
Risk
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 14.63% | 14.43% |
| Downside volatility ⓘ | 10.20% | 9.98% |
| Sharpe ratio ⓘ | 0.34 | 0.44 |
| Sortino ratio ⓘ | 0.49 | 0.63 |
| Maximum drawdown ⓘ | −35.27% | −39.96% |
| Recovery from that fall | 8 months | 9 months |
| Current fall from peak | −4.29% | −3.08% |
| Rolling 1-year return: worst | −28.27% | −35.97% |
| Rolling 1-year return: median | +10.62% | +13.16% |
| Rolling 1-year return: best | +89.38% | +87.25% |
| Share of 1-year periods with a loss | 19.60% | 15.38% |
Against each fund's benchmark
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| Beta ⓘ | 0.94 | 0.95 |
| Alpha (Jensen's, annualised) ⓘ | +0.89% | +2.46% |
| R² ⓘ | 95.71 | 96.96 |
| Upside capture | 96.98% | 101.66% |
| Downside capture | 90.14% | 87.18% |
| Tracking error | 3.08% | 2.61% |
| Information ratio | 0.29 | 1.00 |
| Treynor ratio | 3.01 | 4.83 |
Portfolio
Asset mix
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| Equity | 93.99% | 99.68% |
| Cash & equivalents | 6.02% | 0.32% |
Market-cap split (share of fund assets)
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| Large Cap | 85.54% | 81.32% |
| Mid Cap | 6.88% | 14.65% |
| Small Cap | 1.57% | 3.28% |
| Unclassified | 0.00% | 0.43% |
Concentration
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| Top 10 holdings | 44.36% | 43.64% |
| Effective number of stocks ⓘ | 30.9 | 32.8 |
| Securities held | 44 | 69 |
Portfolio overlap: 52.7%
24 companies are held by both funds; by weight, 52.7% of the two portfolios is the same. That is a high overlap: holding both adds little diversification beyond holding one.
| Held by both | Mahindra Manulife Large Cap | Nippon India Large Cap |
|---|---|---|
| HDFC Bank Limited | 8.06% | 9.61% |
| ICICI Bank Limited | 8.79% | 6.09% |
| Reliance Industries Limited | 4.97% | 3.92% |
| Axis Bank Limited | 3.60% | 5.26% |
| Larsen & Toubro Limited | 3.47% | 3.63% |
| Infosys Limited | 2.59% | 3.36% |
| Mahindra & Mahindra Limited | 2.53% | 2.49% |
| Sun Pharmaceutical Industries Limited | 2.13% | 2.18% |
| Kotak Mahindra Bank Limited | 2.57% | 2.03% |
| Avenue Supermarts Ltd. | 2.00% | 2.46% |
| Eternal Limited | 3.22% | 1.88% |
| State Bank of India | 1.60% | 2.82% |
| Tata Consultancy Services Limited | 1.47% | 3.12% |
| Divi's Laboratories Limited | 1.88% | 1.45% |
| HDFC Life Insurance Company Limited | 2.26% | 1.32% |
Top 10 holdings
Mahindra Manulife Large Cap
- ICICI Bank Limited8.79%
- HDFC Bank Limited8.06%
- Reliance Industries Limited4.97%
- Bharti Airtel Limited4.45%
- Axis Bank Limited3.60%
- Larsen & Toubro Limited3.47%
- Eternal Limited3.22%
- TVS Motor Company Ltd.2.61%
- Bajaj Finserv Limited2.60%
- Infosys Limited2.59%
Nippon India Large Cap
- HDFC Bank Limited9.61%
- ICICI Bank Limited6.09%
- Axis Bank Limited5.26%
- Reliance Industries Limited3.92%
- Larsen & Toubro Limited3.63%
- Infosys Limited3.36%
- Tata Consultancy Services Limited3.12%
- Bajaj Finance Limited3.09%
- State Bank of India2.82%
- Hindustan Unilever Ltd.2.74%
Sector exposure
| Mahindra Manulife Large Cap | Nippon India Large Cap | |
|---|---|---|
| Banks | 26.28% | 26.11% |
| Retailing | 6.60% | 8.35% |
| IT - Software | 6.04% | 8.27% |
| Automobiles | 8.21% | 4.43% |
| Pharmaceuticals & Biotechnology | 6.55% | 7.48% |
| Diversified FMCG | 1.24% | 5.30% |
| Petroleum Products | 4.97% | 3.92% |
| Finance | 4.03% | 4.48% |
| Telecom - Services | 4.45% | 0.51% |
| Power | 3.82% | 3.99% |
| Electrical Equipment | 0.00% | 3.86% |
| Construction | 3.47% | 3.63% |
| Leisure Services | 0.00% | 3.56% |
| Insurance | 2.26% | 3.02% |
Questions people ask
What is the difference between Mahindra Manulife Large Cap and Nippon India Large Cap returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return −0.33% vs −0.78%; 3-year CAGR +11.52% vs +12.79%; 5-year CAGR +8.93% vs +13.08%; 10-year CAGR — vs +14.86%. Past returns do not indicate future returns.
How do Mahindra Manulife Large Cap and Nippon India Large Cap compare on risk?
Volatility (36 monthly returns, annualised) 14.63% vs 14.43%; Sharpe ratio 0.34 vs 0.44; Sortino ratio 0.49 vs 0.63; maximum drawdown −35.27% vs −39.96%; beta 0.94 vs 0.95.
How much do Mahindra Manulife Large Cap and Nippon India Large Cap overlap?
By weight, 52.7% of the two portfolios is invested in the same companies; 24 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI Bank Limited, Reliance Industries Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Mahindra Manulife Large Cap and Nippon India Large Cap?
Mahindra Manulife Large Cap: large cap 85.5%, mid cap 6.9%, small cap 1.6%. Nippon India Large Cap: large cap 81.3%, mid cap 14.7%, small cap 3.3% (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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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.