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Franklin India Opportunities Fund - Direct - Growth vs Union Innovation & Opportunities Fund - Direct Plan - Growth Option
Franklin India Opportunities Fund and Union Innovation & Opportunities Fund are both in the Sectoral/ Thematic category, from Franklin Templeton Asset Management (India) Private Limited and Union Asset Management Company Private Limited respectively. Franklin India Opportunities Fund has posted a higher 3-year rolling CAGR. Franklin India Opportunities Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Franklin India Opportunities Fund has the lower direct-plan expense ratio, by 0.13 percentage points.
| Franklin India Opportunities Fund - Direct - Growth | Union Innovation & Opportunities Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Sectoral/ Thematic | Sectoral/ Thematic |
| AMC | Franklin Templeton Asset Management (India) Private Limited | Union Asset Management Company Private Limited |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| NAV | ₹276.9738 (2026-10-28) | ₹15.97 (2026-10-28) |
| AUM | ₹9,055.35 Cr | ₹1,255.119 Cr |
| Expense Ratio (Direct) | 0.88% | 1.01% |
| Inception | 2000-02-21 | 2023-08-16 |
Returns
Franklin India Opportunities Fund leads on 3-year rolling CAGR (19.1% vs Union Innovation & Opportunities Fund's 18.2%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Union Innovation & Opportunities Fund has been the more volatile of the two by standard deviation.
| Franklin India Opportunities Fund - Direct - Growth | Union Innovation & Opportunities Fund - Direct Plan - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.57 | 0.44 |
| 3Y Alpha | 7.869% | 6.6113% |
| 3Y Std Deviation | 15.902% | 18.386% |
| 3Y Calmar Ratio | 0.90 | 0.63 |
Portfolio Analytics
Union Innovation & Opportunities Fund carries the higher portfolio YTM.
| Franklin India Opportunities Fund - Direct - Growth | Union Innovation & Opportunities Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 32.3127 | 61.2594 |
| P/B Ratio | - | 8.7753 |
| Dividend Yield | 0.5729% | 0.22% |
| Active Share | 84.75% | 91.45% |
| Portfolio Turnover | 73.50999999999999% | 60% |
| YTM | 5.3428% | 5.409% |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
Union Innovation & Opportunities Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Franklin India Opportunities Fund or Union Innovation & Opportunities Fund?
Franklin India Opportunities Fund's 3-year rolling CAGR of 19.1% is higher than Union Innovation & Opportunities Fund's 18.2%. Franklin India Opportunities Fund sits in the 70th percentile of its category on this metric, versus the 61st percentile for Union Innovation & Opportunities Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Franklin India Opportunities Fund or Union Innovation & Opportunities Fund?
Franklin India Opportunities Fund's direct-plan expense ratio is 0.13 percentage points lower than Union Innovation & Opportunities Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, Franklin India Opportunities Fund or Union Innovation & Opportunities Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), Union Innovation & Opportunities Fund has been more volatile than Franklin India Opportunities Fund over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.57 for Franklin India Opportunities Fund vs 0.44 for Union Innovation & Opportunities Fund) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, Franklin India Opportunities Fund or Union Innovation & Opportunities Fund?
Franklin India Opportunities Fund has ₹9,055 Cr in assets under management, versus ₹1,255 Cr for Union Innovation & Opportunities Fund. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which has a higher yield to maturity (YTM), Franklin India Opportunities Fund or Union Innovation & Opportunities Fund?
Union Innovation & Opportunities Fund's portfolio YTM (5.409%) is higher than Franklin India Opportunities Fund's. YTM is the weighted-average return a debt fund's current bond holdings would earn if held to maturity, assuming no defaults and coupons reinvested at the same rate - a useful forward-looking yield estimate for debt funds the way rolling CAGR is for equity funds, though it's an estimate based on today's portfolio, not a guaranteed return, and can move as bonds are bought/sold or as interest rates change.
Which fund has a longer track record, Franklin India Opportunities Fund or Union Innovation & Opportunities Fund?
Franklin India Opportunities Fund launched on 2000-02-21, making it older than Union Innovation & Opportunities Fund (launched 2023-08-16). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.