Best Large & Mid Cap Funds in India (2026)
Live · updated 2026-09-16 Ranked by data, refreshed from daily NAVs
This is the complete, data-ranked list of large & mid caps we track - every Direct-Growth scheme in the category with a meaningful track record, ordered by long-term quality (King Score). This page is recomputed from NAV data every day, so it cannot go stale, and every fund on it links to a full research page with returns, risk, SIP outcomes, holdings and manager track record.
Large & mid cap funds are bound by SEBI mandate to hold at least 35% in large caps and at least 35% in mid caps at all times. The result is a built-in barbell: the stability of index heavyweights on one side, the growth engine of mid-sized companies on the other, with the manager deciding the tilt within those rails.
The mandate makes these funds more predictable than flexi caps (which can drift anywhere) but less flexible in a crash, since the fund cannot retreat fully into large caps. Judge them on consistency: the good ones use the mid cap sleeve to add real return over a plain large cap fund without doubling the drawdown. The rolling-return and worst-fall columns below show who has actually managed that.
Tap any column heading to sort. Every fund name links to its full review.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Invesco India Large & Mid Cap Fund | 96 | 91 | 3.8% | 15.9% | 6.2% | 21.5% | 16.5% | 17.0% | 0.85 | 18.0% | -35.3% |
| 2 | Motilal Oswal Large and Midcap Fund | 96 | 88 | 2.9% | 15.6% | 7.8% | 21.1% | 18.0% | n/a | 0.73 | 27.4% | -37.4% |
| 3 | ICICI Prudential Large & Mid Cap Fund | 32 | 87 | -0.4% | 4.3% | -0.6% | 13.9% | 15.1% | 15.1% | 0.54 | 17.7% | -37.4% |
| 4 | Bandhan Large & Mid Cap Fund | 63 | 85 | 0.7% | 8.2% | 3.0% | 16.8% | 16.2% | 15.9% | 0.69 | 17.6% | -38.5% |
| 5 | Edelweiss Large & Mid Cap Fund | 53 | 84 | 0.5% | 5.5% | 2.7% | 13.3% | 12.6% | n/a | 0.43 | 19.7% | -34.9% |
| 6 | HSBC Large & Mid Cap Fund | 93 | 79 | 1.8% | 15.7% | 8.3% | 16.9% | 13.9% | n/a | 0.56 | 21.2% | -36.1% |
| 7 | UTI Large & Mid Cap Fund | 34 | 79 | -0.4% | 3.5% | 1.3% | 13.6% | 13.4% | 13.8% | 0.5 | 16.3% | -41.5% |
| 8 | Axis Large & Mid Cap Fund | 85 | 78 | 1.4% | 10.4% | 4.7% | 14.4% | 11.8% | n/a | 0.56 | 20.9% | -31.9% |
| 9 | Nippon India Vision Large & Mid Cap Fund | 20 | 76 | -0.9% | 3.8% | -1.5% | 13.4% | 12.3% | 12.7% | 0.44 | 16.9% | -45.0% |
| 10 | Nippon India Vision Large & Mid Cap Fund | 20 | 76 | -0.9% | 3.8% | -1.5% | 13.4% | 12.3% | 12.7% | 0.44 | 16.9% | -45.0% |
| 11 | Sundaram Large and Midcap Fund | 99 | 74 | 5.5% | 13.9% | 7.5% | 13.5% | 11.5% | 15.1% | 0.45 | 16.6% | -38.0% |
| 12 | BANK OF INDIA Large & Mid Cap Fund | 81 | 74 | 1.0% | 7.9% | 6.2% | 12.8% | 11.4% | 13.3% | 0.39 | 15.3% | -37.9% |
| 13 | BANK OF INDIA Large & Mid Cap Fund | 80 | 73 | 1.0% | 7.8% | 6.2% | 12.8% | 11.3% | 13.3% | 0.38 | 15.0% | -37.9% |
| 14 | Kotak Large & Midcap Fund | 27 | 73 | -0.9% | 3.4% | 0.5% | 12.3% | 12.6% | 15.1% | 0.37 | 18.7% | -36.0% |
| 15 | Baroda BNP Paribas Large and Mid Cap Fund | 56 | 72 | 0.6% | 7.0% | 1.9% | 12.7% | 11.9% | n/a | 0.4 | 20.5% | -20.6% |
The category returns: 1 month to 10 years𝕏 Share this statWhatsApp
Over the last 1 year, the category averaged 2.2% - the best, quant Large & Mid Cap Fund, returned 8.8% while the weakest managed -6.0%. That spread is why picking within the category matters. Over 10 years the average compounding rate is 14.1% a year, which turned ₹1 lakh into about ₹374,000.
| Period | Average | Median | Best fund | Weakest |
|---|---|---|---|---|
| 1 month | -4.0% | -4.2% | Motilal Oswal Large and Midcap Fund (-1.1%) | -5.6% |
| 3 months | 0.8% | 0.7% | Sundaram Large and Midcap Fund (5.5%) | -2.3% |
| 6 months | 7.8% | 7.4% | quant Large & Mid Cap Fund (16.4%) | 1.1% |
| 1 year | 2.2% | 2.4% | quant Large & Mid Cap Fund (8.8%) | -6.0% |
| 3 years (CAGR) | 13.1% | 12.8% | Invesco India Large & Mid Cap Fund (21.5%) | 6.1% |
| 5 years (CAGR) | 12.3% | 12.1% | Motilal Oswal Large and Midcap Fund (18.0%) | 6.9% |
| 10 years (CAGR) | 14.1% | 14.3% | Invesco India Large & Mid Cap Fund (17.0%) | 11.2% |
Averages across every qualifying fund, refreshed daily. Best-fund links open that fund's full review.
What ₹1 lakh became
The same returns, translated into money - at the average pace and at the best fund's pace:
| Held for | Average pace | ₹1 lakh → (average) | ₹1 lakh → (best fund) |
|---|---|---|---|
| 1 year | 2.2% a year | ₹102,200 | ₹108,800 |
| 3 years | 13.1% a year | ₹144,700 | ₹179,400 |
| 5 years | 12.3% a year | ₹178,600 | ₹228,800 |
| 10 years | 14.1% a year | ₹374,000 | ₹480,700 |
Pre-tax, from historical returns. The averages smooth over a very bumpy ride - see the worst-fall column in the ranking above for what the journey involved.
The category by the numbers
| Funds that qualify | 28 |
| Combined assets | ₹340,469 Cr |
| Average 3-year return | 13.1% a year (best 21.5%, weakest 6.1%) |
| Average 5-year return | 12.3% a year |
| Average worst-ever fall | -37.2% (deepest: -45.7%) |
| Average expense ratio (Direct) | 0.73% |
| Largest fund by assets | Mirae Asset Large & Midcap Fund (₹42,792 Cr) |
Put the risk number in rupees: at the average worst fall of -37.2%, ₹1 lakh temporarily becomes about ₹62,800. That is the stretch every ranked fund's investors had to sit through at some point - the ranking rewards the funds that made that wait worthwhile.
Momentum check: what is hot right now
As of 2026-09-16, 5 of the 28 funds here rate RS 90 or above (top-decile recent momentum versus peers). The strongest momentum belongs to Sundaram Large and Midcap Fund (RS 99/99). Average return over the last 3 months: 0.8%; over 6 months: 7.8%. Momentum is a snapshot, not a ranking criterion here - but it tells you whether this corner of the market is currently in favour.
Before you pick a large & mid cap fund: four checks
- Open the fund's page and look at the worst-fall figure in rupees - decide whether you could genuinely sit through it without selling.
- Check the rolling-return consistency, not just the trailing return: a fund that delivered in most windows beats one lucky streak.
- Compare its expense ratio against the category average shown above - a persistent 0.5% cost gap compounds into lakhs over decades.
- If you already own funds in this category, check the portfolio overlap section on the fund page - two funds owning the same stocks is one bet, not two.
Filter the entire Indian mutual fund universe by 40+ metrics - returns, consistency, drawdown, RS Rating, King Score, cost - then chart, compare and backtest anything you find.
How to read the table
RS (1-99) is recent momentum versus category peers - 99 is the hottest right now. King (0-100) is the long-term quality composite this list is ranked by. 3M/6M are recent returns; 3Y and 5Y CAGR are annualised longer records. Sharpe is return earned per unit of volatility - higher means smoother compounding. Roll 3Y is the median of every 3-year holding period in the fund's history, the fairest single return number a fund has. Worst fall is the deepest peak-to-bottom loss ever - the number that tests whether you would have stayed invested. Missing values show as n/a, usually because the fund is too young for that measurement.
The top 10, decoded𝕏 Share this statWhatsApp
- Invesco India Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 91/100, RS 96/99 right now. 3-year return 21.5% a year, against a worst-ever fall of 35.3% (₹1 lakh briefly ₹64,700). 5-year pace 16.5% a year, median 3-year rolling return 18.0%, sharpe 0.85.
- Motilal Oswal Large and Midcap Fund (Large & Mid Cap Fund) - King Score 88/100, RS 96/99 right now. 3-year return 21.1% a year, against a worst-ever fall of 37.4% (₹1 lakh briefly ₹62,600). 5-year pace 18.0% a year, median 3-year rolling return 27.4%, sharpe 0.73.
- ICICI Prudential Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 87/100, RS 32/99 right now. 3-year return 13.9% a year, against a worst-ever fall of 37.4% (₹1 lakh briefly ₹62,600). 5-year pace 15.1% a year, median 3-year rolling return 17.7%, sharpe 0.54.
- Bandhan Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 85/100, RS 63/99 right now. 3-year return 16.8% a year, against a worst-ever fall of 38.5% (₹1 lakh briefly ₹61,500). 5-year pace 16.2% a year, median 3-year rolling return 17.6%, sharpe 0.69.
- Edelweiss Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 84/100, RS 53/99 right now. 3-year return 13.3% a year, against a worst-ever fall of 34.9% (₹1 lakh briefly ₹65,100). 5-year pace 12.6% a year, median 3-year rolling return 19.7%, sharpe 0.43.
- HSBC Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 79/100, RS 93/99 right now. 3-year return 16.9% a year, against a worst-ever fall of 36.1% (₹1 lakh briefly ₹63,900). 5-year pace 13.9% a year, median 3-year rolling return 21.2%, sharpe 0.56.
- UTI Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 79/100, RS 34/99 right now. 3-year return 13.6% a year, against a worst-ever fall of 41.5% (₹1 lakh briefly ₹58,500). 5-year pace 13.4% a year, median 3-year rolling return 16.3%, sharpe 0.5.
- Axis Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 78/100, RS 85/99 right now. 3-year return 14.4% a year, against a worst-ever fall of 31.9% (₹1 lakh briefly ₹68,100). 5-year pace 11.8% a year, median 3-year rolling return 20.9%, sharpe 0.56.
- Nippon India Vision Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 76/100, RS 20/99 right now. 3-year return 13.4% a year, against a worst-ever fall of 45.0% (₹1 lakh briefly ₹55,000). 5-year pace 12.3% a year, median 3-year rolling return 16.9%, sharpe 0.44.
- Nippon India Vision Large & Mid Cap Fund (Large & Mid Cap Fund) - King Score 76/100, RS 20/99 right now. 3-year return 13.4% a year, against a worst-ever fall of 45.0% (₹1 lakh briefly ₹55,000). 5-year pace 12.3% a year, median 3-year rolling return 16.9%, sharpe 0.44.
Frequently asked questions
Which is the best large & mid cap fund right now?
On our data-driven ranking as of 2026-09-16, Invesco India Large & Mid Cap Fund scores highest (King Score 91/100). That is a description of its record versus peers, not a recommendation - rankings move as NAVs update, and the right fund depends on your goals and risk tolerance.
Are large & mid cap funds risky?
The category's numbers answer this better than adjectives: the average fund here has seen a worst-ever fall of -37.2%, and the deepest fall in the category is -45.7%. If a temporary loss of that size would make you sell, this category (or its allocation size in your portfolio) deserves a rethink. Risk here is not hypothetical - it is a matter of record.
What returns have large & mid cap funds given historically?
Across the 28 funds we track in this category, the average 3-year return is 13.1% a year, with the best at 21.5% and the weakest at 6.1%. Over 5 years the category average is 12.3% a year. These are records, not projections - the next three years owe nothing to the last three.
What is the average 1-year return of large & mid cap funds right now?
As of 2026-09-16, the 28 qualifying funds averaged 2.2% over the last year (median 2.4%). The best, quant Large & Mid Cap Fund, returned 8.8%; the weakest returned -6.0%. One year is weather, not climate - check the 5 and 10 year columns before drawing conclusions.
Which large & mid cap fund gave the highest return in the last 10 years?
Invesco India Large & Mid Cap Fund leads with 17.0% a year over 10 years - ₹1 lakh became about ₹480,700 pre-tax. The average across funds with a 10-year record is 14.1% a year. A decade-long record says a lot about the past and nothing certain about the next decade.
How is this list ranked?
Funds are ordered by King Score - a 0-100 composite of 3-year returns, rolling consistency, worst drawdown and Sharpe, each measured against category peers. The full formulas are public - see our methodology page. No fund pays to be here and rankings cannot be bought.
Should I invest in the #1 fund on this list?
We cannot tell you that - MF Terminal is descriptive research, not investment advice. A top rank says the past record was strong versus peers. Read the fund's full page, check the drawdowns you would have to sit through, and decide against your own horizon.
More rankings
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All figures pre-tax, from AMFI NAV history. Rankings are descriptive and change with the data. Nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.