ICICI Prudential Mid Cap Fund
Direct · GrowthAI Summary
ICICI Prudential Mid Cap Fund has delivered strong SIP XIRR returns, including 21.45% over 3Y and 20.23% over 5Y. It has beaten the NIFTY Midcap 150 across most windows, with 3Y Fund CAGR of 19.38% versus the benchmark's 13.14% and positive alpha at every horizon up to 15Y. Against the category, it leads on 1Y (21.32% vs 15.91%) and 3Y (21.45% vs 19.79%) XIRR, though it trails the 5Y category average of 20.42%.
The fund shows consistent alpha with beta below 1 at longer horizons (0.9401 at 12Y) and downside capture of 92.72% at 12Y, indicating it has fallen slightly less than the index over time. However, 1Y downside capture of 104.69% suggests recent market drops have hit it slightly harder than the benchmark. The maximum drawdown duration of 805 days with a 254-day recovery reflects the extended drawdowns typical of mid-cap investing, and the Calmar ratios between 0.39 and 0.56 indicate moderate risk-adjusted efficiency.
The top 10 holdings account for roughly 38% of NAV, led by Apar Industries at 5.98%, with Multi Commodity Exchange and Hindustan Petroleum at 5.43% each across 76 total holdings, indicating reasonable diversification. Sector exposure is spread across Capital Markets (13.0%), Industrial Products (12.1%), and Auto Components (9.9%), with meaningful tilt toward cyclical sectors like metals, autos, and realty. The largest single-stock position at under 6% limits idiosyncratic concentration risk.
The fund ranks favorably versus category peers on shorter horizons, outperforming the 1Y and 3Y category average SIP XIRR by roughly 5.4 and 1.7 percentage points respectively. Its long-term record remains competitive, with 12Y XIRR of 18.71% versus the category's 18.55%, though the 5Y and 7Y XIRR figures trail category averages by around 0.2 and 1.4 percentage points. Persistent positive alpha versus the benchmark across all measured windows points to genuine stock-selection skill over time.
This fund suits investors with a high risk appetite seeking mid-cap exposure as a satellite holding within a diversified portfolio, with a recommended horizon of at least 5-7 years given the 805-day maximum drawdown duration. SIP investors benefit from the demonstrated outperformance over the benchmark on staggered returns. Investors should be comfortable with calendar-year volatility, including declines such as -9.76% in 2018 and -1.15% in 2026.
- Consistent positive alpha versus NIFTY Midcap 150 across all measured horizons, including 6.17% over 3Y and 6.64% over 1Y
- Strong SIP XIRR of 21.45% over 3Y, ahead of the category average of 19.79%, and broad outperformance in lump-sum CAGR terms
- Diversified 76-stock portfolio with downside capture below 100% at horizons of 3Y and longer, cushioning extended market declines
- Heavy tilt toward cyclical sectors such as Industrial Products, Ferrous Metals, and Auto Components increases vulnerability in economic downturns
- 1Y downside capture of 104.69% and a 2026 calendar return of -1.15% show recent drawdowns slightly exceeding the benchmark, and the fund trails category averages on 5Y and 7Y XIRR
Generated on 02-11-2026, 3:38 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 | ₹13.04 L | 26.2% | -60.5% | 153.0% |
| 3 Years | ₹36.00 L | ₹47.83 L | 18.9% | -26.8% | 42.0% |
| 5 Years | ₹60.00 L | ₹96.65 L | 18.0% | -11.8% | 34.5% |
| 7 Years | ₹84.00 L | ₹1.58 Cr | 17.9% | -0.8% | 27.2% |
| 10 Years | ₹1.20 Cr | ₹3.26 Cr | 18.8% | 14.9% | 22.1% |
| 12 Years | ₹1.44 Cr | ₹4.74 Cr | 18.8% | 16.1% | 21.4% |
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 | 26.2% | 21.8% | 15.9% | +4.3% |
| 3 Years | 18.9% | 17.2% | 19.8% | +1.7% |
| 5 Years | 18.0% | 16.5% | 20.4% | +1.5% |
| 7 Years | 17.9% | 16.8% | 19.4% | +1.2% |
| 10 Years | 18.8% | 16.6% | 19.3% | +2.1% |
| 12 Years | 18.8% | 16.3% | 18.6% | +2.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 24.5% | 15.4% | -35.6% | 128.2% | 0.58 | 2.53 | 85% | — | — |
| 3 Years | 19.4% | 21.2% | -9.9% | 44.2% | 1.30 | 5.06 | 95% | — | — |
| 5 Years | 18.1% | 17.7% | -1.8% | 34.9% | 1.49 | 11.13 | 99% | — | — |
| 10 Years | 18.4% | 18.3% | 13.8% | 23.1% | 5.70 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +6.77 | 1.06 | 111.8% | 104.6% | 2.0% | -4.1% |
| 3 Years | +6.41 | 1.01 | 104.2% | 98.5% | 19.6% | 13.1% |
| 5 Years | +2.06 | 0.97 | 98.4% | 96.2% | 14.6% | 12.8% |
| 7 Years | +0.91 | 0.97 | 97.2% | 96.2% | 19.7% | 19.2% |
| 10 Years | +1.30 | 0.94 | 94.1% | 92.5% | 15.9% | 15.1% |
| 12 Years | +0.63 | 0.94 | 93.9% | 92.7% | 15.3% | 15.2% |
| 15 Years | +2.69 | 0.93 | 94.1% | 90.9% | 16.8% | 14.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Apar Industries Ltd. | 5.98% |
| 2 | Hindustan Petroleum Corporation Ltd. | 5.43% |
| 3 | Multi Commodity Exchange Of India Ltd. | 5.43% |
| 4 | Jindal Steel Ltd. | 3.97% |
| 5 | APL Apollo Tubes Ltd. | 3.95% |
| 6 | BSE Ltd. | 3.93% |
| 7 | Jindal Stainless Ltd. | 2.92% |
| 8 | Bharat Forge Ltd. | 2.84% |
| 9 | Muthoot Finance Ltd. | 2.83% |
| 10 | PB Fintech Ltd. | 2.68% |