Bandhan Mid Cap Fund
Direct · GrowthAI Summary
Bandhan Mid Cap Fund has outperformed the NIFTY MIDCAP 150 across all measured periods, with a 3Y fund CAGR of 17.0% versus the benchmark's 12.57% and a 1Y CAGR of 6.44% against -0.58%. Its 1Y SIP XIRR of 17.13% beats the category average of 16.02%, though its 3Y XIRR of 15.51% trails the category's 19.85%. Alpha is positive at every horizon but has narrowed over longer periods, from 6.70% (1Y) to 0.09% (15Y).
The fund shows strong downside protection with a 3Y downside capture of 90.18% and a 1Y figure of 93.1%, meaning it falls less than the benchmark in weak markets. Risk-adjusted returns are healthy, with Calmar ratios near 1.0 at both 1Y (0.9972) and 3Y (0.9404). However, the single major drawdown event took 195 days to bottom and 415 days to recover, which is a long recovery window typical of mid-cap investing.
No individual holdings or sector allocation data was provided for this fund, so specific composition analysis is not possible. As a mid-cap fund, it invests primarily in India's mid-sized companies, which inherently carry higher concentration and volatility risk than large-cap peers. Investors should review the latest factsheet for current top holdings and sector exposure before investing.
The fund's 1Y SIP XIRR of 17.13% is ahead of the category average of 16.02%, but its 3Y XIRR of 15.51% lags the category's 19.85% by over 4 percentage points. Calendar year returns show strong up years (39.36% in 2023, 34.48% in 2024) but modest losses in 2022 (-1.06%) and 2025 (-2.08%), indicating benchmark-like cyclicality. Its consistent positive alpha versus the NIFTY MIDCAP 150 across 1Y to 15Y horizons suggests durable relative outperformance.
This fund suits investors with a high risk tolerance and a long time horizon of at least 5-7 years, given the 415-day recovery from its maximum drawdown and mid-cap volatility. It is appropriate as a satellite allocation for investors seeking to beat the NIFTY MIDCAP 150 with lower downside capture. SIP investors benefit from the fund's demonstrated downside protection, but should be prepared for multi-year flat stretches as seen in 2022 and 2025.
- Consistent positive alpha over the NIFTY MIDCAP 150 at every horizon from 1Y (6.70%) to 15Y (0.09%)
- Strong downside capture of 90.18% over 3Y and 84.35% over longer periods, cushioning losses in weak markets
- 1Y SIP XIRR of 17.13% exceeds the category average of 16.02%, with a low expense ratio of 0.6% for the Direct plan
- 3Y SIP XIRR of 15.51% trails the category average of 19.85% by over 4 percentage points
- Long recovery time of 415 days from maximum drawdown, with negative calendar returns in 2022 (-1.06%) and 2025 (-2.08%)
Generated on 14-10-2026, 4:09 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 | ₹13.10 L | 24.1% | -26.3% | 72.9% |
| 3 Years | ₹36.00 L | ₹44.23 L | 15.9% | 4.9% | 24.2% |
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 | 24.1% | 21.9% | 16.0% | +2.2% |
| 3 Years | 15.9% | 17.2% | 19.8% | -1.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.6% | 15.1% | -5.6% | 60.2% | 0.84 | 5.80 | 93% | — | — |
| 3 Years | 21.3% | 21.7% | 16.5% | 24.3% | 8.89 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.38 | 0.96 | 100.2% | 95.0% | 4.0% | -0.8% |
| 3 Years | +4.17 | 0.94 | 95.0% | 90.7% | 16.5% | 12.7% |
| 5 Years | +1.56 | 0.88 | 88.4% | 84.8% | 14.3% | 13.6% |
| 7 Years | +0.85 | 0.88 | 88.4% | 84.8% | 10.0% | 9.5% |
| 10 Years | +0.35 | 0.88 | 88.4% | 84.8% | 6.9% | 6.6% |
| 12 Years | +0.15 | 0.88 | 88.4% | 84.8% | 5.7% | 5.5% |
| 15 Years | -0.03 | 0.88 | 88.4% | 84.8% | 4.6% | 4.3% |