JM Large & Mid Cap Fund
Fund basics
Returns
Returns for this scheme are not computed yet — we need at least three years of published NAV. The NAV above is today's, straight from AMFI.
Direct vs Regular — same portfolio, two prices
The same fund, the same manager, the same shares. The only difference is the distributor commission inside the Regular plan's expense ratio — charged every year, on the whole balance.
| Plan | NAV | 1y | 3y | 5y |
|---|---|---|---|---|
| Direct (this page) | 11.0999 | — | — | — |
| Regular | 10.8953 | — | — | — |
The two NAVs are 1.8% apart today. They started life at the same ₹10 — the whole of that gap is what the commission has taken out of the Regular plan since launch.
Everything the NAV says
Computed from 265 published NAVs between 30 Jul 2025 and 27 Aug 2026 — 1.1 years of history. Nothing here is an estimate; it is arithmetic on what the fund actually printed.
How it has moved
Return over time (%)
| Fund name | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y | Since launch |
|---|---|---|---|---|---|---|---|---|---|
| JM Large & Mid Cap Fund Direct | 4.28 | 7.74 | 8.22 | 9.49 | — | — | — | — | 9.48 |
| Nifty Midcap 150 benchmark | 2.67 | 3.07 | 7.38 | 11.75 | 17.87 | — | — | — | 20.21 |
| Mid Cap category median · 33 funds | — | — | — | 10.21 | 19.84 | 17.23 | — | 17.08 | — |
Anything over a year is annualised (CAGR); shorter windows are absolute. The benchmark row is the index fund named below, priced daily by AMFI like every other scheme here. The category row is the median Direct plan in Mid Cap — the middle fund, not a ranking, and a median rather than an average so that one mis-stated scheme cannot move it. As on 26 Aug 2026.
Risk measures
| Fund name | Volatility | Sharpe | Sortino | Beta | Alpha | Max fall |
|---|---|---|---|---|---|---|
| JM Large & Mid Cap Fund Direct | 14.11 | 0.21 | 0.30 | 0.86 | 0.14 | -15.48 |
| Nifty Midcap 150 benchmark | 15.73 | 0.72 | 0.99 | — | — | -21.10 |
Risk measures use a risk-free rate of 6.5% and are stated so they can be checked — a ratio quoted without its risk-free rate cannot be. Beta and alpha need an index, so they are blank for the benchmark row itself.
Against its benchmark
Regressed on the 13 months this fund and Nifty Midcap 150 (via SBI Nifty Midcap 150 Index Fund) both have. Alpha is Jensen's — the return left over after the market move this fund's own beta would predict.
| Alpha | Beta | R² | Fund vs index | Up capture | Down capture | Tracking error | Information ratio | Treynor |
|---|---|---|---|---|---|---|---|---|
| 0.14% | 0.86 | 92% | -0.57% | 89% | 85% | 5.46% | -0.11 | 5.15 |
Up and down capture are the pair worth reading together: a fund that takes 95% of the rises but only 80% of the falls is doing something a headline CAGR will never show you.
Risk
| Volatility | Downside volatility | Sharpe | Sortino |
|---|---|---|---|
| 14.1% | 9.8% | 0.21 | 0.30 |
Sharpe and Sortino use a risk-free rate of 6.5%, roughly the 10-year government bond. Both are stated so the figure can be checked — a ratio quoted without its risk-free rate cannot be.
The worst it has been
| Deepest fall | Time to recover | Today, from its peak |
|---|---|---|
| -15.5% | 4 months | At a high |
A drawdown is the fall from a previous high to the low that followed it. It is the number that decides whether somebody stays invested — a fund can have an excellent ten-year return and still have been unbearable to hold in year four.
Calendar years
How it compares with its closest peers
The same category, the same plan, the same option — the only comparison that means anything. A Mid Cap Direct Plan Growth Option scheme against another of exactly the same kind.
| Scheme | Return | Alpha | Beta | Volatility | Sharpe | Max fall |
|---|---|---|---|---|---|---|
| JM Large & Mid Cap Fund JM Financial Mutual Fund · this scheme | — | 0.1% | 0.86 | 14.1% | 0.21 | -15.5% |
| Axis Large & Mid Cap Fund Axis Mutual Fund | 17.3% | 0.9% | 0.75 | 14.5% | 0.75 | -31.9% |
| Axis Midcap Fund Axis Mutual Fund | 18.2% | 0.0% | 0.84 | 14.8% | 0.79 | -29.4% |
| Baroda BNP Paribas Large and Mid Cap fund Baroda BNP Paribas Mutual Fund | 15.9% | -1.8% | 0.85 | 14.8% | 0.64 | -20.6% |
| Baroda BNP Paribas Mid Cap Fund Baroda BNP Paribas Mutual Fund | 19.3% | 1.7% | 0.83 | 14.3% | 0.90 | -18.6% |
| Canara Robeco Mid Cap Fund Canara Robeco Mutual Fund | 19.3% | 1.6% | 0.90 | 14.8% | 0.86 | -21.2% |
| HDFC Large & Mid Cap Fund HDFC Mutual Fund | 15.2% | -1.3% | 0.88 | 16.5% | 0.53 | -39.5% |
| HDFC Mid Cap Fund HDFC Mutual Fund | 19.6% | 4.7% | 0.85 | 15.4% | 0.85 | -39.5% |
| ITI Large & Mid Cap Fund ITI Mutual Fund | — | -1.6% | 1.02 | 17.1% | -0.28 | -20.2% |
Alpha and beta are against Nifty Midcap 150. Max fall is the deepest peak-to-trough drop in each fund's own history, so a longer-running fund has had more chances to record a bad one. Click a column to sort. This is a sort, not a ranking, and nothing here is a recommendation.
What a Mid Cap scheme is
At least 65% in companies ranked 101st to 250th by market value.
The middle of the market: businesses large enough to have survived a cycle, small enough to double. Returns are higher over long periods and the falls are deeper — a 40% drawdown is ordinary here, not a crisis.
Who it suits. Investors who already hold large-cap funds and can leave the money untouched through a bad year.
How long money should stay. 7 years or more.
Compare this scheme with others →
Questions people ask
What is the NAV of JM Large & Mid Cap Fund — Direct Plan — Growth Option?
₹11.0999 as on 26 Aug 2026, from AMFI's daily NAV file. NAV is declared once each business day after markets close, so the figure here is the most recent one published.
What is the difference between the Direct and Regular plan of JM Large & Mid Cap Fund?
They hold the identical portfolio, run by the same manager. A Regular plan pays a distributor commission out of the fund, inside its expense ratio — commonly 0.5% to 1.2% a year more than Direct. That difference is charged on the whole balance, every year, so it compounds: on ₹1,00,000 held ten years a gap of 1.5 percentage points is roughly ₹1.4 lakh of ending value. Direct is the same fund without the commission.
What does the Growth option mean?
Growth reinvests everything the fund earns back into the NAV. Nothing is paid out, so the NAV rises with returns and you are taxed only when you sell. For anybody who does not need income from the investment, Growth is the simpler and usually the more tax-efficient option.
What kind of scheme is this?
At least 65% in companies ranked 101st to 250th by market value. The middle of the market: businesses large enough to have survived a cycle, small enough to double. Returns are higher over long periods and the falls are deeper — a 40% drawdown is ordinary here, not a crisis.
How long should money stay in it?
Typically 7 years or more. Investors who already hold large-cap funds and can leave the money untouched through a bad year.