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Best Mid Cap Mutual Funds 2024

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Mid cap funds invest in mid-sized companies according to average market capitalisation (Rs. 500 crore to Rs. 10000 crore). Minimum investment in Equity & Equity-related instruments of Mid-Cap companies is 65% of total assets.
Decizen Rating (Understand the Method): P: Performance, Q: Quality, UP: Upside Potential
Compare Funds

Fund Name
a
NAV (Rs.)
AUM (Cr.)
Returns Since
inception (%)
Returns

Past

Avg Rolling
Fund DeciZen
P(%)
Q
Kotak Emerging Equity Fund(G)-Direct Plan
Kotak Emerging Equity Fund(G)-Direct Plan
129.32
42,699
21.6
01 Jan' 13
43.55
23.85
23.61
17.81
27.61
21.67
18.71
21.52
Unlock
Edelweiss Mid Cap Fund-Reg(G)
Edelweiss Mid Cap Fund-Reg(G)
81.78
5,534
13.7
26 Dec' 07
53.3
27
25.54
17.88
25.81
21.55
18.85
18.48
Unlock
Kotak Emerging Equity Fund(G)
Kotak Emerging Equity Fund(G)
113.10
42,699
15.2
30 Mar' 07
43.55
23.85
23.61
17.81
26.08
21.52
18.52
17.42
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Edelweiss Mid Cap Fund(G)-Direct Plan
Edelweiss Mid Cap Fund(G)-Direct Plan
94.00
5,534
22.7
01 Jan' 13
53.3
27
25.54
17.88
27.38
20.87
18.04
20.81
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HDFC Mid-Cap Opportunities Fund(G)
HDFC Mid-Cap Opportunities Fund(G)
167.23
63,413
18.1
25 Jun' 07
57.06
29.65
24.57
18.25
25.18
20.58
18.38
18.73
Unlock
HDFC Mid-Cap Opportunities Fund(G)-Direct Plan
HDFC Mid-Cap Opportunities Fund(G)-Direct Plan
182.79
63,413
22.2
31 Dec' 12
57.06
29.65
24.57
18.25
26.18
19.88
16.77
19.76
Unlock
Mahindra Manulife Mid Cap Fund(G)-Direct Plan
Mahindra Manulife Mid Cap Fund(G)-Direct Plan
33.74
2,433
21.3
30 Jan' 18
64.12
28.81
26.12
N/A
24.20
25.53
21.05
N/A
Unlock
Invesco India Midcap Fund(G)-Direct Plan
Invesco India Midcap Fund(G)-Direct Plan
162.69
4,512
21.6
01 Jan' 13
50.43
25.32
23
16.76
25.55
19.94
17.85
19.92
Unlock
Baroda BNP Paribas Mid Cap Fund(G)-Direct Plan
Baroda BNP Paribas Mid Cap Fund(G)-Direct Plan
108.06
1,891
20.9
02 Jan' 13
50.02
23.8
23.67
16.26
24.35
18.96
16.09
18.89
Unlock
DSP Midcap Fund-Reg(G)
DSP Midcap Fund-Reg(G)
129.84
17,079
15.8
14 Nov' 06
45.41
17.44
18.29
15.29
22.09
18.49
16.87
17.12
Unlock
Taurus Mid Cap Fund(G)-Direct Plan
Taurus Mid Cap Fund(G)-Direct Plan
126.37
126
18.8
01 Jan' 13
54.46
23.95
22.76
16.84
23.33
17.74
15.73
17.72
Unlock
Mahindra Manulife Mid Cap Fund-Reg(G)
Mahindra Manulife Mid Cap Fund-Reg(G)
30.31
2,433
19.2
30 Jan' 18
64.12
28.81
26.12
N/A
22.15
23.46
19.05
N/A
Unlock
SBI Magnum Midcap Fund-Reg(G)
SBI Magnum Midcap Fund-Reg(G)
215.41
17,910
17.4
29 Mar' 05
40.55
24.46
23.78
15.9
24.09
20.95
17.59
16.08
Unlock
UTI Mid Cap Fund-Reg(G)
UTI Mid Cap Fund-Reg(G)
271.51
10,475
16.4
30 Jul' 05
42.05
21.58
22.09
14.74
24.27
20.34
17.70
17.20
Unlock
Axis Midcap Fund-Reg(G)
Axis Midcap Fund-Reg(G)
99.79
26,637
18.9
18 Feb' 11
42.65
20.07
21.43
16.23
22.70
20.10
17.88
18.33
Unlock
Invesco India Midcap Fund(G)
Invesco India Midcap Fund(G)
137.31
4,512
16.6
19 Apr' 07
50.43
25.32
23
16.76
23.63
19.99
18.11
17.73
Unlock
Tata Mid Cap Growth Fund-Reg(G)
Tata Mid Cap Growth Fund-Reg(G)
396.29
3,637
13.1
01 Jul' 94
56.24
25.24
23.12
16.35
24.26
19.96
17.38
16.37
Unlock
Baroda BNP Paribas Mid Cap Fund-Reg(G)
Baroda BNP Paribas Mid Cap Fund-Reg(G)
92.34
1,891
13.1
02 May' 06
50.02
23.8
23.67
16.26
22.61
19.64
17.65
16.15
Unlock
HSBC Midcap Fund-Reg(G)
HSBC Midcap Fund-Reg(G)
343.70
10,342
19.6
09 Aug' 04
60.92
23.69
20.52
16.71
23.94
19.61
17.29
17.11
Unlock
SBI Magnum Midcap Fund(G)-Direct Plan
SBI Magnum Midcap Fund(G)-Direct Plan
239.03
17,910
20.8
01 Jan' 13
40.55
24.46
23.78
15.9
25.25
19.48
15.51
19.29
Unlock
Axis Midcap Fund(G)-Direct Plan
Axis Midcap Fund(G)-Direct Plan
114.59
26,637
20.5
01 Jan' 13
42.65
20.07
21.43
16.23
24.27
19.42
18.44
19.36
Unlock
ICICI Pru Midcap Fund(G)
ICICI Pru Midcap Fund(G)
263.72
5,814
18.2
28 Oct' 04
55.16
25.51
21.67
15.73
24.44
19.33
16.26
15.03
Unlock
PGIM India Midcap Opp Fund(G)-Direct Plan
PGIM India Midcap Opp Fund(G)-Direct Plan
65.12
10,155
19.6
02 Dec' 13
31.43
19.58
25.56
15.58
21.37
19.17
16.39
17.43
Unlock
Tata Mid Cap Growth Fund(G)-Direct Plan
Tata Mid Cap Growth Fund(G)-Direct Plan
444.22
3,637
21.3
01 Jan' 13
56.24
25.24
23.12
16.35
25.52
19.12
16.73
19.18
Unlock
Franklin India Prima Fund(G)
Franklin India Prima Fund(G)
2378.40
10,706
19.7
01 Dec' 93
50.71
22.38
19.39
15.17
22.19
19.03
17.12
16.77
Unlock
HSBC Midcap Fund(G)-Direct Plan
HSBC Midcap Fund(G)-Direct Plan
383.70
10,342
21.2
01 Jan' 13
60.92
23.69
20.52
16.71
25.15
18.79
16.21
18.75
Unlock
UTI Mid Cap Fund(G)-Direct Plan
UTI Mid Cap Fund(G)-Direct Plan
299.41
10,475
20.4
01 Jan' 13
42.05
21.58
22.09
14.74
25.35
18.78
15.66
18.66
Unlock
Taurus Mid Cap Fund-Reg(G)
Taurus Mid Cap Fund-Reg(G)
120.28
126
8.7
05 Sep' 94
54.46
23.95
22.76
16.84
22.80
18.78
16.06
13.29
Unlock
Quant Mid Cap Fund(G)-Direct Plan
Quant Mid Cap Fund(G)-Direct Plan
258.86
6,920
20.7
07 Jan' 13
70.74
36.14
32.62
19.52
22.20
18.70
16.18
18.10
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Nippon India Growth Fund(G)-Direct Plan
Nippon India Growth Fund(G)-Direct Plan
3830.01
26,822
19.5
01 Jan' 13
60.08
30.26
25.71
18.1
23.99
18.57
16.14
18.38
Unlock
ICICI Pru Midcap Fund(G)-Direct Plan
ICICI Pru Midcap Fund(G)-Direct Plan
292.72
5,814
20.8
01 Jan' 13
55.16
25.51
21.67
15.73
25.61
18.31
15.47
18.23
Unlock
Nippon India Growth Fund(G)
Nippon India Growth Fund(G)
3529.84
26,822
22.7
08 Oct' 95
60.08
30.26
25.71
18.1
23.09
18.24
15.00
14.69
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Sundaram Mid Cap Fund-Reg(G)
Sundaram Mid Cap Fund-Reg(G)
1188.29
10,732
24.4
19 Jul' 02
56.04
26.18
20.18
15.25
22.53
18.20
15.89
16.92
Unlock
DSP Midcap Fund(G)-Direct Plan
DSP Midcap Fund(G)-Direct Plan
142.79
17,079
18.8
31 Dec' 12
45.41
17.44
18.29
15.29
23.12
18.12
16.22
17.92
Unlock
Motilal Oswal Midcap Fund(G)-Direct Plan
Motilal Oswal Midcap Fund(G)-Direct Plan
94.88
9,819
24.6
24 Feb' 14
61.25
36.59
26.91
18.05
22.72
17.91
14.67
18.96
Unlock
Franklin India Prima Fund(G)-Direct Plan
Franklin India Prima Fund(G)-Direct Plan
2648.86
10,706
20
01 Jan' 13
50.71
22.38
19.39
15.17
23.38
17.69
15.11
17.59
Unlock
PGIM India Midcap Opp Fund-Reg(G)
PGIM India Midcap Opp Fund-Reg(G)
57.05
10,155
18.1
02 Dec' 13
31.43
19.58
25.56
15.58
19.76
17.48
14.71
15.88
Unlock
Aditya Birla SL Midcap Fund(G)
Aditya Birla SL Midcap Fund(G)
683.50
5,303
21.6
03 Oct' 02
51.75
24.52
19.33
14.3
21.41
17.09
14.21
14.98
Unlock
Quant Mid Cap Fund(G)
Quant Mid Cap Fund(G)
233.83
6,920
14.5
26 Feb' 01
70.74
36.14
32.62
19.52
20.98
17.02
13.46
10.65
Unlock
Sundaram Mid Cap Fund(G)-Direct Plan
Sundaram Mid Cap Fund(G)-Direct Plan
1284.86
10,732
19.2
02 Jan' 13
56.04
26.18
20.18
15.25
23.41
17.00
13.67
16.96
Unlock
Aditya Birla SL Midcap Fund(G)-Direct Plan
Aditya Birla SL Midcap Fund(G)-Direct Plan
754.02
5,303
17.5
01 Jan' 13
51.75
24.52
19.33
14.3
22.49
16.63
13.22
16.43
Unlock
Motilal Oswal Midcap Fund-Reg(G)
Motilal Oswal Midcap Fund-Reg(G)
83.80
9,819
23.1
24 Feb' 14
61.25
36.59
26.91
18.05
21.22
16.46
13.27
17.51
Unlock
LIC MF Midcap Fund(G)-Direct Plan
LIC MF Midcap Fund(G)-Direct Plan
28.90
260
15.6
25 Jan' 17
51.5
20.9
18.73
N/A
15.14
14.06
12.18
N/A
Unlock
LIC MF Midcap Fund(G)
LIC MF Midcap Fund(G)
26.17
260
14.1
25 Jan' 17
51.5
20.9
18.73
N/A
13.72
12.78
10.86
N/A
Unlock
Union Midcap Fund(G)-Direct Plan
Union Midcap Fund(G)-Direct Plan
44.12
1,140
42.9
23 Mar' 20
46.66
24.31
N/A
N/A
35.62
30.31
N/A
N/A
Unlock
Mirae Asset Midcap Fund(G)-Direct Plan
Mirae Asset Midcap Fund(G)-Direct Plan
34.48
15,139
29.4
29 Jul' 19
50.66
24.23
N/A
N/A
34.13
29.79
N/A
N/A
Unlock
Union Midcap Fund-Reg(G)
Union Midcap Fund-Reg(G)
41.69
1,140
41
23 Mar' 20
46.66
24.31
N/A
N/A
33.77
28.50
N/A
N/A
Unlock
Mirae Asset Midcap Fund-Reg(G)
Mirae Asset Midcap Fund-Reg(G)
32.28
15,139
27.6
29 Jul' 19
50.66
24.23
N/A
N/A
32.31
28.05
N/A
N/A
Unlock
ITI Mid Cap Fund(G)-Direct Plan
ITI Mid Cap Fund(G)-Direct Plan
21.26
820
26.5
05 Mar' 21
67.48
24.38
N/A
N/A
21.60
25.86
N/A
N/A
Unlock
ITI Mid Cap Fund-Reg(G)
ITI Mid Cap Fund-Reg(G)
19.86
820
23.9
05 Mar' 21
67.48
24.38
N/A
N/A
19.07
23.24
N/A
N/A
Unlock
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*Based on the Fund's Ranking within its Category
Great Decisions Ensure Success
Categories: Flexi Cap Funds Large Cap Funds Mid Cap Funds Small Cap Funds Multi Cap Funds Large & Mid Cap Funds Tax Saver Funds Index Funds ETF Funds
Fund House (AMC): Aditya Birla Axis BNP Paribas DSP Franklin HDFC ICICI Bandhan Invesco Kotak L&T
Mirae Motilal PPFAS Quantum Nippon SBI Sundaram Tata UTI NAVI
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FAQ's
Mid cap funds invest a major percentage of their AUM in mid-sized companies according to average market capitalisation (Rs. 500 crore to Rs. 10000 crore). Minimum investment in Equity & Equity-related instruments of Mid-Cap companies is 65% of total assets.
The process of choosing best mid cap funds for investment does not entirely differ from that involved in choosing other stocks. Finding a good Mutual Fund to invest in requires you to answer 3 essential questions:
  1. What is the Right Fund? – Check quality of Holdings, consistency of returns,
  2. What is the Right Time to buy? – Check portfolio valuation and fund manager investment strategy
  3. What is the Right Allocation? – Check if the fund suits your risk profile

Read our blog , 'If not past returns, then how do you select the right Equity Mutual Fund to invest in?' for details

Fund Name AUM (Cr.) Returns Since inception 5 Yr Avg Rolling Quality Performance
HDFC Mid-Cap Opportunities Fund 21,817 14.2 18.96 Somewhat Good Very Good
Axis Midcap Fund 6,949 16.9 17.7 Very Good Not Good
Invesco India Midcap Fund 1,009 13.7 17.44 Somewhat Good Somewhat Good
DSP Midcap Fund 8,407 14.4 16.86 Very Good Very Good
Sundaram Mid Cap Fund 5,243 23.3 16.47 Somewhat Good Somewhat Good
Mid-sized companies faster growth rates than large-caps, but are also more risky. Risk comes from being unable to maintain the high growth rates consistently and leverage taken to support such growth. As a result, they are also more risky and volatile than large cap funds. However, as mid cap companies perform better during a bull run they deliver astonishing returns, sometimes even outperforming large cap funds.
Every fund is assessed on the following:
  1. Consistent Outperformers : Track record of having generated returns above a benchmark on a 3-year rolling basis. Consistent performers are Green, followed by Orange. Red have an inconsistent track record on outperforming the index.
  2. The average 3-year rolling returns number appears in the first button.
  3. Quality of Portfolio is assessed based on the quality of each stock held. Predominantly high quality stocks get a Green second button, followed by Orange and Red (large amount of risky stocks).
  4. Upside Potential: Every fund is assessed on what returns it could deliver in the next 5 years based on it.
Select the fund that is Green on Performance which shows it has consistently outperformed the index. Select one with a high average 3-year rolling returns - the number in the first button. And select one with a Green rating on Quality-the second button.
Use the Funds Screener and select the category. It shows the funds with Green on Performance and Quality right on the top. The ones with the higher average 3-year rolling returns are ranked the highest. Funds with less than 5 years returns history are colored Grey on Performance. Since the track record is not for an adequately long period they feature lower in the list.
Build a well-diversified portfolio with funds that assures you of a stable growth through market and economic cycles and funds that enhance your portfolio returns over the long run.
  1. Core Funds: Choose from Large cap, Large and Mid cap and Flexicap funds.
  2. Booster Funds
    1. Choose from Mid and Small cap funds.
    2. Select a Sector or Thematic Fund that is likely to outperform in the long term.
Use the Fund Portfolio Analyzer, Sher-ya-Billi to check if your portfolio will deliver healthy returns or disappoint you. Go to Fund Portfolio Analyzer. You can also upload details of your funds in the Portfolio Manager and see the report on this page.
When adding a new fund check how different is the fund compared to your portfolio by using the link in the Right allocation box on the Fund Decision Maker.
Most investors have more, many more funds that they should-over diversified. This tends to reduce returns. Many investors have more of the same i.e. they have funds that have very similar portfolios and hence the fund portfolio is not well-diversified. Either there are too many large cap dominated funds or far too many mid and small cap funds. What you require is a good, balanced mix. Finally investors don't know when to exit a fund and end up carrying it even though the future upside potential is very low.
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