Axis Mid Cap Fund
Direct · GrowthAI Summary
Axis Mid Cap Fund has delivered strong long-term SIP returns, with XIRR of 19.31% over 10Y and 18.93% over 12Y, broadly in line with category averages of 19.41% and 18.82% respectively. Against the NIFTY Midcap 150, the fund shows positive alpha over 3Y (2.65%), 10Y (3.37%), 12Y (2.71%), and 15Y (3.27%), though it lags the benchmark over 5Y (14.92% vs 17.46% CAGR) and 7Y. Recent 1Y SIP XIRR of 23.83% comfortably beats the category average of 21.6%.
The fund exhibits a defensive risk profile for a mid cap fund, with beta consistently below 0.85 (0.79-0.87 across periods) and downside capture of 75-86%, meaning it falls less than the benchmark in weak markets. It has experienced 6 drawdown events exceeding 10%, and the maximum drawdown of -29.36% took 156 days to recover, highlighting meaningful downside risk typical of the category. Calmar ratios of roughly 0.65-0.77 across horizons indicate reasonable risk-adjusted returns relative to drawdown severity.
The portfolio is well diversified across 82 holdings, with the top position (Federal Bank at 3.83%) kept deliberately small. Sector allocation is spread across Auto Components (9.3%), Electrical Equipment (8.1%), Banks (6.6%), Pharmaceuticals (6.4%), and Capital Markets (5.8%), avoiding heavy concentration in any single theme. The top 10 holdings together account for roughly 25% of NAV, reflecting a genuinely diversified mid cap strategy.
The fund's SIP XIRR is marginally below category averages over 3Y (18.85% vs 19.93%) and 10Y (19.31% vs 19.41%), but ahead over 12Y (18.93% vs 18.82%) and 1Y (23.83% vs 21.6%), suggesting competitive but not top-quartile SIP performance. Calendar year returns show strong consistency in up markets, with gains in 11 of 14 years including 78.67% in 2014 and 42.48% in 2017. Its below-benchmark downside capture indicates it protects capital relatively well during mid cap corrections.
This fund suits investors seeking diversified mid cap exposure with a long-term horizon of 7 years or more, given the volatility and multi-year return cycles inherent to the segment. It is appropriate for those with moderate-to-high risk tolerance who value downside protection, as evidenced by its low beta and downside capture versus the NIFTY Midcap 150. SIP investors in particular benefit from the fund's consistent long-term XIRR of around 19% across multiple horizons.
- Consistent long-term SIP XIRR of 18.85-19.46% across 3Y to 12Y horizons, with positive alpha versus the NIFTY Midcap 150 over 3Y, 10Y, 12Y, and 15Y periods
- Defensive characteristics with beta of 0.79-0.87 and downside capture as low as 75.34% (10Y), cushioning losses in mid cap downturns
- Highly diversified portfolio of 82 holdings with no single stock above 3.83% and balanced sector exposure
- Underperformance versus the benchmark over 5Y (14.92% vs 17.46% CAGR) and 7Y (20.95% vs 22.1% CAGR), with negative alpha of -0.64% over 5Y
- Six drawdown events exceeding 10%, including a maximum drawdown of -29.36% that required 156 days to recover, underscoring significant volatility risk
Generated on 02-09-2026, 2:55 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 | ₹12.96 L | 23.8% | -35.9% | 133.5% |
| 3 Years | ₹36.00 L | ₹46.18 L | 18.9% | -6.9% | 44.3% |
| 5 Years | ₹60.00 L | ₹96.31 L | 19.1% | 1.9% | 30.8% |
| 7 Years | ₹84.00 L | ₹1.65 Cr | 19.5% | 8.2% | 26.5% |
| 10 Years | ₹1.20 Cr | ₹3.22 Cr | 19.3% | 16.4% | 22.9% |
| 12 Years | ₹1.44 Cr | ₹4.86 Cr | 18.9% | 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 | 23.8% | 22.1% | 21.6% | +1.8% |
| 3 Years | 18.9% | 17.3% | 19.9% | +1.5% |
| 5 Years | 19.1% | 16.5% | 19.4% | +2.6% |
| 7 Years | 19.5% | 16.7% | 19.3% | +2.7% |
| 10 Years | 19.3% | 16.6% | 19.4% | +2.7% |
| 12 Years | 18.9% | 16.3% | 18.8% | +2.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.6% | 16.9% | -15.5% | 102.7% | 0.67 | 3.84 | 87% | — | — |
| 3 Years | 19.4% | 19.7% | 4.9% | 36.8% | 2.24 | 295.70 | 100% | — | — |
| 5 Years | 19.4% | 20.3% | 5.1% | 30.2% | 2.57 | 309.25 | 100% | — | — |
| 10 Years | 19.1% | 18.6% | 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 | +0.09 | 0.87 | 87.3% | 86.1% | 9.5% | 9.9% |
| 3 Years | +2.65 | 0.83 | 85.4% | 82.2% | 18.8% | 18.1% |
| 5 Years | -0.64 | 0.83 | 83.1% | 82.6% | 14.9% | 17.5% |
| 7 Years | +1.82 | 0.81 | 81.8% | 79.1% | 20.9% | 22.1% |
| 10 Years | +3.37 | 0.79 | 79.8% | 75.3% | 18.0% | 16.8% |
| 12 Years | +2.71 | 0.80 | 80.9% | 77.1% | 17.6% | 16.9% |
| 15 Years | +3.27 | 0.81 | 82.0% | 77.3% | 17.0% | 15.4% |
| # | 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% |