COMPARE
JM Focused Fund (Direct) - Growth Option vs Union Focused Fund - Direct Plan - Growth Option
JM Focused Fund (Direct) and Union Focused Fund are both in the Focused Fund category, from JM Financial Asset Management Limited and Union Asset Management Company Private Limited respectively. JM Focused Fund (Direct) has posted a higher 3-year rolling CAGR. JM Focused Fund (Direct) has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
JM Focused Fund (Direct) has the lower direct-plan expense ratio, by 0.32 percentage points.
| JM Focused Fund (Direct) - Growth Option | Union Focused Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Focused Fund | Focused Fund |
| AMC | JM Financial Asset Management Limited | Union Asset Management Company Private Limited |
| Benchmark | BSE 500 TRI | BSE 500 TRI |
| NAV | ₹22.232 (2026-10-28) | ₹28.26 (2026-10-28) |
| AUM | ₹262.694 Cr | ₹423.126 Cr |
| Expense Ratio (Direct) | 1.25% | 1.57% |
| Inception | 2008-01-14 | 2019-07-15 |
Returns
JM Focused Fund (Direct) leads on 3-year rolling CAGR (16.8% vs Union Focused Fund's 16.0%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
JM Focused Fund (Direct) has been the more volatile of the two by standard deviation.
| JM Focused Fund (Direct) - Growth Option | Union Focused Fund - Direct Plan - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.08 | 0.13 |
| 3Y Alpha | 0.3282% | 0.9546% |
| 3Y Std Deviation | 16.2252% | 13.978% |
| 3Y Calmar Ratio | 0.43 | 0.52 |
Portfolio Analytics
JM Focused Fund (Direct) carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| JM Focused Fund (Direct) - Growth Option | Union Focused Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 34.6017 | 34.0154 |
| P/B Ratio | - | - |
| Dividend Yield | 0.4715% | 0.7203% |
| Active Share | 86.4% | 74.16% |
| Portfolio Turnover | 84.3% | 42% |
| YTM | - | 5.36% |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
JM Focused Fund (Direct) and Union Focused Fund carry the same Punji Quality grade.
Frequently asked questions
Which has a higher 3-year return, JM Focused Fund (Direct) or Union Focused Fund?
JM Focused Fund (Direct)'s 3-year rolling CAGR of 16.8% is higher than Union Focused Fund's 16.0%. JM Focused Fund (Direct) sits in the 56th percentile of its category on this metric, versus the 37th percentile for Union Focused 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, JM Focused Fund (Direct) or Union Focused Fund?
JM Focused Fund (Direct)'s direct-plan expense ratio is 0.32 percentage points lower than Union Focused 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, JM Focused Fund (Direct) or Union Focused Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), JM Focused Fund (Direct) has been more volatile than Union Focused 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 (0.08 for JM Focused Fund (Direct) vs 0.13 for Union Focused 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, JM Focused Fund (Direct) or Union Focused Fund?
Union Focused Fund has ₹423 Cr in assets under management, versus ₹263 Cr for JM Focused Fund (Direct). 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 fund has a longer track record, JM Focused Fund (Direct) or Union Focused Fund?
JM Focused Fund (Direct) launched on 2008-01-14, making it older than Union Focused Fund (launched 2019-07-15). 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.