Baroda BNP Paribas Mid Cap Fund
Direct · GrowthAI Summary
Baroda BNP Paribas Mid Cap Fund has delivered consistent long-term SIP XIRR of 18.11% over 5Y and 19.12% over 10Y, beating the NIFTY Midcap 150 across all periods with positive alpha ranging from 1.32% (5Y) to 4.86% (1Y). However, its XIRR trails the category average SIP XIRR across most horizons, including 18.11% vs 20.43% over 5Y and 19.12% vs 19.31% over 10Y. The fund's lump-sum CAGR also outpaced the benchmark in every period, such as 15.67% vs 13.49% over 3Y.
The fund exhibits a defensive risk profile with beta of roughly 0.86-0.89 and downside capture of 82.79%-86.19%, meaning it falls less than the benchmark in down markets. It has experienced 8 drawdown events exceeding 10%, with the maximum drawdown lasting 805 days and taking 245 days to recover, reflecting the inherent volatility of mid-cap investing. Positive alpha across all periods from 1Y to 15Y indicates steady risk-adjusted outperformance despite this lower market sensitivity.
The portfolio is well diversified across 74 holdings, with the top position, Bharat Heavy Electricals, at just 3.32% of NAV, limiting single-stock concentration risk. Banks is the largest sector at 11.7%, followed by Pharmaceuticals & Biotechnology at 9.9% and Auto Components at 8.2%, providing balanced exposure across financials, healthcare, and industrials. The top 10 holdings together account for roughly 21.6% of NAV, indicating a genuinely diversified mid-cap book.
The fund's SIP XIRR lags the category average at 3Y (17.61% vs 19.79%), 5Y (18.11% vs 20.43%), and 10Y (19.12% vs 19.31%), though it stays ahead at 1Y (17.58% vs 15.91%) and 12Y (18.70% vs 18.55%). Its consistent benchmark outperformance with positive alpha across 1Y to 15Y horizons points to repeatable stock selection rather than luck. The low expense ratio of 0.54% is a competitive advantage within the mid-cap category.
This fund suits investors seeking mid-cap exposure with a long-term horizon of at least 5-7 years, given the 805-day maximum drawdown duration and the need to ride out mid-cap cycles. It is appropriate for those with moderate-to-high risk tolerance who value downside protection, as evidenced by downside capture below 87% in all periods. SIP investors prioritizing steady benchmark-beating returns over topping the category leaderboard will find it a reasonable core mid-cap holding.
- Positive alpha versus NIFTY Midcap 150 across every period from 1Y to 15Y, including 4.86% over 1Y and 3.15% over 3Y
- Consistently low downside capture of 82.79%-86.19% with beta around 0.86, offering better downside protection than the benchmark
- Low expense ratio of 0.54% and a well-diversified 74-stock portfolio with the top holding at only 3.32% of NAV
- SIP XIRR trails the category average at 3Y (17.61% vs 19.79%) and 5Y (18.11% vs 20.43%), underperforming many mid-cap peers
- Recent calendar-year returns have weakened sharply, with only 3.69% in 2025 and 0.12% in 2026 after strong 2023-2024 gains, and the fund has endured 8 drawdowns exceeding 10%
Generated on 31-10-2026, 2:14 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 | ₹12.93 L | 23.8% | -43.6% | 113.5% |
| 3 Years | ₹36.00 L | ₹47.78 L | 19.0% | -17.3% | 45.4% |
| 5 Years | ₹60.00 L | ₹96.04 L | 18.1% | -6.0% | 33.8% |
| 7 Years | ₹84.00 L | ₹1.65 Cr | 18.7% | 3.1% | 27.7% |
| 10 Years | ₹1.20 Cr | ₹3.23 Cr | 19.1% | 15.9% | 22.6% |
| 12 Years | ₹1.44 Cr | ₹4.75 Cr | 18.7% | 16.0% | 21.7% |
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% | 21.8% | 15.9% | +1.9% |
| 3 Years | 19.0% | 17.2% | 19.8% | +1.7% |
| 5 Years | 18.1% | 16.5% | 20.4% | +1.6% |
| 7 Years | 18.7% | 16.8% | 19.4% | +1.9% |
| 10 Years | 19.1% | 16.6% | 19.3% | +2.5% |
| 12 Years | 18.7% | 16.3% | 18.5% | +2.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.8% | 16.1% | -20.9% | 96.1% | 0.64 | 2.69 | 85% | — | — |
| 3 Years | 19.6% | 21.7% | -5.0% | 39.1% | 1.39 | 6.69 | 96% | — | — |
| 5 Years | 18.3% | 17.8% | 2.0% | 33.2% | 1.74 | 26.65 | 100% | — | — |
| 10 Years | 18.7% | 18.4% | 15.0% | 22.7% | 6.10 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.58 | 0.89 | 92.1% | 86.2% | 0.8% | -5.0% |
| 3 Years | +3.12 | 0.86 | 87.9% | 84.2% | 15.3% | 13.1% |
| 5 Years | +1.28 | 0.87 | 87.9% | 85.8% | 13.2% | 12.7% |
| 7 Years | +2.48 | 0.86 | 87.8% | 85.0% | 20.0% | 19.3% |
| 10 Years | +1.67 | 0.86 | 87.1% | 84.8% | 15.3% | 14.8% |
| 12 Years | +1.84 | 0.86 | 87.5% | 85.0% | 15.9% | 15.3% |
| 15 Years | +3.17 | 0.85 | 86.9% | 82.8% | 16.5% | 14.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Bharat Heavy Electricals Limited | 3.32% |
| 2 | Indian Bank | 2.25% |
| 3 | IPCA Laboratories Limited | 2.23% |
| 4 | Acutaas Chemicals Limited | 2.14% |
| 5 | GE Vernova T&D India Limited | 2.10% |
| 6 | Ujjivan Small Finance Bank Limited | 1.97% |
| 7 | The Phoenix Mills Limited | 1.93% |
| 8 | One 97 Communications Limited | 1.92% |
| 9 | Multi Commodity Exchange of India Limited | 1.91% |
| 10 | AU Small Finance Bank Limited | 1.82% |