Axis Mid Cap Fund
Direct · GrowthAI Summary
Axis Mid Cap Fund has delivered strong long-term SIP XIRR of 19.25% over 10Y and 19.79% over 5Y, broadly in line with category averages of 19.32% and 20.45% respectively. Against the NIFTY MIDCAP 150, the fund shows positive alpha over 1Y (2.50%), 3Y (3.49%), and 10Y (3.60%), though 5Y alpha is slightly negative at -0.35%. Lump-sum CAGR trails the benchmark over 3Y, 5Y, and 7Y, indicating benchmark outperformance is more evident in recent and very long periods.
The fund exhibits a defensive risk profile with a beta of 0.79-0.87 across periods and consistently lower downside capture (75.5% over 10Y) than upside capture (80.1%), meaning it falls less than the benchmark in weak markets. Maximum drawdown is modest at -0.29% with a 32-day duration, though 6 drawdown events exceeding 10% reflect typical midcap volatility. Calmar ratios of 0.65-0.76 across horizons indicate reasonable risk-adjusted returns for the midcap category.
The portfolio is well diversified across 82 holdings, with the top position (Federal Bank at 3.83%) kept below 4% of NAV. Sector exposure is spread across Auto Components (9.3%), Electrical Equipment (8.1%), Banks (6.6%), Pharma (6.4%), and Capital Markets (5.8%), avoiding heavy concentration in any single sector. Holdings span financials, healthcare, capital markets, and industrials, providing balanced exposure to India's midcap growth themes.
The fund sits near the category midpoint: its 3Y XIRR of 19.14% is slightly below the 19.85% category average, while its 7Y (19.42%) and 12Y (18.66%) XIRR marginally exceed category averages of 19.39% and 18.58%. Calendar year returns show strong consistency in good years (78.67% in 2014, 42.48% in 2017, 40.94% in 2021) with contained losses in weak years (-4.92% in 2022, -2.19% in 2016). This pattern of lower downside capture supports its positioning as a relatively resilient midcap performer.
This fund suits investors seeking midcap growth with a long horizon of 7-10 years, as evidenced by consistent double-digit returns over extended periods. It is appropriate for those with moderate-to-high risk tolerance who want midcap exposure but value the fund's below-benchmark downside capture as a cushion during corrections. A SIP approach is well suited given the fund's strong SIP XIRR track record across all measured horizons.
- Consistently positive alpha versus NIFTY MIDCAP 150 over 1Y (2.50%), 3Y (3.49%), and 10Y (3.60%) with downside capture as low as 75.5% over 10Y
- Strong and stable long-term SIP XIRR of 19.25% over 10Y and 19.79% over 5Y, with a low expense ratio of 0.48%
- Well-diversified 82-stock portfolio with no single holding above 3.83% and balanced sector allocation
- Recent underperformance versus category: 3Y XIRR of 19.14% trails the category average of 19.85%, and 5Y XIRR of 19.79% trails 20.45%
- Lump-sum CAGR has trailed the benchmark over 3Y (15.35% vs 12.89% is ahead, but 5Y 11.15% vs 12.52% and 7Y 18.95% vs 20.88% lag), with negative 5Y alpha of -0.35%
- Six drawdown events exceeding 10% and weak recent calendar returns (1.91% in 2025, 4.51% in 2026) highlight inherent midcap volatility
Generated on 17-10-2026, 5:00 AM. 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 | ₹12.95 L | 23.7% | -35.9% | 133.5% |
| 3 Years | ₹36.00 L | ₹46.10 L | 18.7% | -6.9% | 44.3% |
| 5 Years | ₹60.00 L | ₹96.09 L | 19.0% | 1.9% | 30.8% |
| 7 Years | ₹84.00 L | ₹1.65 Cr | 19.4% | 8.2% | 26.5% |
| 10 Years | ₹1.20 Cr | ₹3.21 Cr | 19.3% | 16.4% | 22.9% |
| 12 Years | ₹1.44 Cr | ₹4.77 Cr | 18.8% | 16.2% | 21.9% |
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 | 23.7% | 21.9% | 16.0% | +1.8% |
| 3 Years | 18.7% | 17.2% | 19.8% | +1.5% |
| 5 Years | 19.0% | 16.5% | 20.4% | +2.5% |
| 7 Years | 19.4% | 16.8% | 19.4% | +2.7% |
| 10 Years | 19.3% | 16.6% | 19.3% | +2.6% |
| 12 Years | 18.8% | 16.3% | 18.6% | +2.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.4% | 16.5% | -15.5% | 102.7% | 0.66 | 3.82 | 87% | — | — |
| 3 Years | 19.4% | 19.6% | 4.9% | 36.8% | 2.24 | 296.85 | 100% | — | — |
| 5 Years | 19.3% | 20.2% | 5.1% | 30.2% | 2.53 | 309.30 | 100% | — | — |
| 10 Years | 19.1% | 18.5% | 15.2% | 23.4% | 6.65 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.03 | 0.87 | 88.6% | 85.5% | 2.2% | -0.8% |
| 3 Years | +3.35 | 0.84 | 86.3% | 82.3% | 15.1% | 12.7% |
| 5 Years | -0.32 | 0.83 | 83.2% | 82.6% | 10.9% | 12.2% |
| 7 Years | +0.73 | 0.81 | 81.8% | 80.0% | 18.8% | 20.8% |
| 10 Years | +3.56 | 0.79 | 80.1% | 75.5% | 17.1% | 15.4% |
| 12 Years | +2.37 | 0.80 | 80.5% | 77.0% | 16.5% | 16.1% |
| 15 Years | +3.31 | 0.81 | 82.1% | 77.4% | 16.6% | 14.8% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | The Federal Bank Limited | 3.83% |
| 2 | Fortis Healthcare Limited | 3.54% |
| 3 | Multi Commodity Exchange of India Limited | 3.04% |
| 4 | GE Vernova T&D India Limited | 2.90% |
| 5 | BSE Limited | 2.39% |
| 6 | Schaeffler India Limited | 2.22% |
| 7 | Cummins India Limited | 2.11% |
| 8 | Apar Industries Limited | 2.09% |
| 9 | Solar Industries India Limited | 2.07% |
| 10 | The Indian Hotels Company Limited | 2.06% |