Equity · Category

Best Large & Mid Cap Mutual Funds 2026

A large and mid cap fund must hold at least 35% in large caps and at least 35% in mid caps. The structure is deliberate: it guarantees meaningful exposure to both segments rather than letting a manager drift entirely into one, while leaving the remaining 30% free.

The rules, in short

Universe: Ranks 1–250, split by rule; Defined by AMFI's half-yearly list, last revised July 2026.
Minimum allocation: 35% large + 35% mid; SEBI category rule. The remaining 30% is unconstrained.
Tax on gains: 12.5% above ₹1.25 lakh; Long-term capital gains (held over 12 months) under Section 112A. Gains on units held 12 months or less are short-term and taxed at 20%. The ₹1.25 lakh exemption is an annual aggregate across all your equity gains.

All 39 Large & Mid Cap funds, ranked

Ordered by three-year annualised return, computed from official AMFI NAV history to a common date. Every fund here follows the same SEBI mandate, so the differences below come from the manager's choices and the fund's costs — not from a difference in what they are allowed to hold.

NAV as of 18 Aug 2026

Category average over 3Y: 13.0% a year across 28 funds with a full record.

#Fund1Y3Y ↓5Yvs catExpense

Median expense ratio in this category: 0.67%. Direct plans cost less than regular plans — the same fund appears once here, on its longest-running plan.

Not enough history to rank

These 11 funds do not yet have a full 3Y NAV record, so ranking them against the funds above would compare different periods.

Abakkus Large & Mid Cap Fund Bajaj Finserv Large and Mid Cap Fund Helios Large & Mid Cap Fund ITI Large & Midcap Fund JM Large & Mid Cap Fund Nippon India Vision Large & Mid Cap Fund Institutional PGIM India Large and Midcap Fund Samco Large & Mid Cap Fund Sundaram Large and Midcap The Wealth Company Large & Mid Cap Fund Whiteoak Capital Large & Mid Cap Fund

What the free 30% actually does

The two 35% floors account for 70% of the portfolio. Where the remaining 30% goes is what separates funds in this category: tilted towards large caps it behaves closer to a large cap fund, tilted towards mid or small caps it behaves closer to a mid cap fund.

That makes the category harder to compare on returns alone than its narrower neighbours. Two funds with the same three-year number may have taken quite different levels of risk to get there.

How AMFI decides what counts as large, mid and small cap

AMFI ranks every listed company by average daily full market capitalisation and publishes the list twice a year, in January and July. Ranks 1–100 are large cap, 101–250 are mid cap, and everything from 251 down is small cap. In the July 2026 revision the large-cap cut-off was about ₹1.06 lakh crore and the mid-cap cut-off about ₹33,500 crore. Because the list is redrawn every six months, a stock can move between buckets and funds then have to adjust their holdings to stay within their mandate.

How to read the table below

Returns are annualised and computed from our own AMFI NAV history rather than taken from a fund factsheet, so every fund on this page is measured to the same date on the same basis. The category average is calculated across the same set.

Expense ratio is the annual cost, already deducted from the NAV you see — a fund returning 15% gross at a 1.2% expense ratio shows 13.8%. Direct plans cost less than regular plans because they carry no distributor commission.

Past returns describe what happened; they are not a forecast. Two funds with identical three-year numbers can have reached them through very different levels of volatility.

Frequently asked questions

What is a large and mid cap fund?+

An equity fund required to hold at least 35% in large cap companies and at least 35% in mid cap companies. The remaining 30% can go anywhere the manager chooses.

How is it different from a flexi cap fund?+

A large and mid cap fund has guaranteed minimums in two specific segments. A flexi cap fund has no cap-wise minimum at all and could hold almost entirely large caps. The large and mid cap mandate ensures mid cap exposure never disappears.

How are Large & Mid Cap funds ranked on this page?+

By three-year annualised return, computed from official AMFI NAV history to a common date, so every fund is measured on the same basis. Funds without a full three-year record are listed separately rather than ranked against funds that have one.

Are these returns after fees?+

Yes. Returns are calculated from NAV, and the expense ratio is already deducted from NAV daily. The expense-ratio column tells you what that ongoing cost is.

How this page is produced

Every figure above is computed from our own archive of the official AMFI NAV file, going back to 2006, to NAV dated 18 Aug 2026. Nothing is copied from a fund factsheet or a third-party data vendor, which is why every fund on this page can be measured to the same date on the same basis. The full method is published, including its limitations.

Returns are annualised over 3Y and the category average is calculated across the same set of funds shown above. Tax rules summarised on this page are general and current for FY 2026-27 — confirm your own position with a qualified tax adviser.

Written and maintained by Azad Mohammed, who built the pipeline these numbers come out of. Found an error? Tell us — corrections are made and the page rebuilds within the hour.

This page describes what each fund has done. It is not investment advice and not a recommendation to buy or sell any scheme. Arthkar is not a SEBI-registered investment adviser and does not provide or arrange investment advice. Mutual fund investments are subject to market risk; read all scheme related documents carefully.