Aditya Birla Sun Life Mid Cap Fund
Direct · GrowthAI Summary
Aditya Birla Sun Life Mid Cap Fund has delivered a 10Y SIP XIRR of 16.47% and a 5Y SIP XIRR of 15.59%, but these trail the category average SIP XIRR of 19.41% and 19.38% respectively across most horizons. Against the NIFTY Midcap 150, the fund shows positive alpha of 2.28% over 1Y and 2.20% over 3Y, but negative alpha over 5Y (-0.21%), 7Y (-0.57%), and 10Y (-1.35%), indicating lump-sum point-to-point returns have lagged the benchmark over longer periods. Recent performance is stronger, with calendar year returns of 40.35% in 2023 and 22.59% in 2024.
The fund exhibits a beta of roughly 0.88-0.94 across horizons, meaning it moves less than the benchmark in both directions, with downside capture near or slightly above upside capture in most windows (e.g., 10Y: 89.53% upside vs 90.01% downside). The maximum drawdown duration of 806 days with a 293-day recovery highlights the extended time it can take to recover from mid-cap downturns, and there have been 6 drawdown events exceeding 10%. Calmar ratios between 0.32 and 0.46 across horizons suggest modest risk-adjusted returns relative to the depth of drawdowns.
The portfolio holds 72 stocks with a well-diversified top 10 accounting for roughly 27.3% of NAV, led by Federal Bank (3.51%), Billionbrains Garage Ventures (3.46%), and Thermax (3.10%). Financials dominate with Banks at 10.3%, Finance at 6.7%, and Capital Markets at 5.5%, while Industrial Products (9.7%) adds a cyclical tilt. Exposure spans banks, cement, pharma, chemicals, power, and insurance, providing reasonable sector spread despite the financial-sector weighting.
The fund underperforms the category average SIP XIRR at every listed horizon, with the gap widest over 5Y (15.59% vs 19.38%) and 7Y (15.48% vs 19.29%). Its consistency is mixed: strong calendar-year gains in 2014, 2017, 2021, and 2023 contrast with losses in 2018, 2019, 2022, and 2025's modest 5.04%. The recent 1Y and 3Y alpha versus the benchmark suggests some improvement, but long-term category-relative positioning remains weak.
This fund suits investors with a high risk tolerance and a horizon of at least 7 years, given the extended 806-day maximum drawdown duration and mid-cap volatility. It is appropriate as a satellite allocation within a diversified equity portfolio rather than a core holding, especially given its category underperformance. Investors should be prepared for sharp calendar-year swings, including a -15.01% return in 2018.
- Positive alpha of 2.28% over 1Y and 2.20% over 3Y versus the NIFTY Midcap 150, indicating recent benchmark outperformance
- Diversified 72-stock portfolio with a modest top-10 concentration of about 27.3% of NAV
- Below-benchmark beta (0.88-0.94) with downside capture near 89-90%, offering slightly cushioned downside participation
- SIP XIRR trails the category average at every horizon, with a gap of nearly 4 percentage points over 5Y and 7Y
- Negative alpha over 5Y, 7Y, and 10Y versus the benchmark, showing long-term lump-sum underperformance against the NIFTY Midcap 150
- Extended drawdown recovery profile, with the maximum drawdown lasting 806 days and six drawdown events exceeding 10%
Generated on 06-09-2026, 8:02 PM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.83 L | 22.3% | -56.5% | 117.4% |
| 3 Years | ₹36.00 L | ₹47.32 L | 17.1% | -26.9% | 41.8% |
| 5 Years | ₹60.00 L | ₹90.62 L | 15.6% | -12.4% | 33.1% |
| 7 Years | ₹84.00 L | ₹1.48 Cr | 15.5% | -1.8% | 25.6% |
| 10 Years | ₹1.20 Cr | ₹2.82 Cr | 16.5% | 12.6% | 20.5% |
| 12 Years | ₹1.44 Cr | ₹4.10 Cr | 16.4% | 13.5% | 19.2% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY MIDCAP 150 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 22.3% | 22.0% | 21.6% | +0.3% |
| 3 Years | 17.1% | 17.3% | 19.9% | -0.2% |
| 5 Years | 15.6% | 16.5% | 19.4% | -0.9% |
| 7 Years | 15.5% | 16.8% | 19.3% | -1.3% |
| 10 Years | 16.5% | 16.6% | 19.4% | -0.2% |
| 12 Years | 16.4% | 16.3% | 18.8% | +0.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 20.9% | 13.8% | -35.0% | 90.7% | 0.54 | 1.76 | 78% | — | — |
| 3 Years | 17.4% | 19.6% | -11.5% | 41.2% | 1.04 | 3.00 | 92% | — | — |
| 5 Years | 15.8% | 15.7% | -1.9% | 32.4% | 1.25 | 7.72 | 99% | — | — |
| 10 Years | 16.4% | 15.8% | 12.7% | 20.8% | 4.98 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.27 | 0.94 | 92.6% | 89.3% | 11.9% | 9.9% |
| 3 Years | +2.20 | 0.88 | 88.5% | 85.6% | 18.9% | 18.1% |
| 5 Years | -0.21 | 0.89 | 89.1% | 88.5% | 16.0% | 17.5% |
| 7 Years | -0.57 | 0.90 | 89.7% | 89.5% | 20.0% | 22.1% |
| 10 Years | -1.35 | 0.90 | 89.5% | 90.0% | 14.4% | 16.8% |
| 12 Years | -0.10 | 0.91 | 90.6% | 90.0% | 15.9% | 16.9% |
| 15 Years | +0.50 | 0.89 | 89.8% | 88.5% | 14.9% | 15.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | The Federal Bank Limited | 3.51% |
| 2 | Billionbrains Garage Ventures Ltd | 3.46% |
| 3 | Thermax Limited | 3.10% |
| 4 | AU Small Finance Bank Limited | 3.04% |
| 5 | JK Cement Limited | 2.82% |
| 6 | Max Financial Services Limited | 2.75% |
| 7 | Ajanta Pharmaceuticals Limited | 2.45% |
| 8 | APL Apollo Tubes Limited | 2.43% |
| 9 | Navin Fluorine International Limited | 2.37% |
| 10 | Torrent Power Limited | 2.35% |