Invesco India Mid Cap Fund
Direct · GrowthAI Summary
Invesco India Mid Cap Fund has delivered strong SIP XIRR across horizons, with 3Y at 24.11% and 10Y at 21.2%, consistently ahead of the category averages of 19.81% (3Y) and 19.32% (10Y). Against the NIFTY Midcap 150, it has generated positive alpha across all periods, including 8.42% over 3Y and 4.18% over 10Y, with lump-sum CAGRs beating the benchmark in every window. Recent 1Y performance of 18.89% XIRR also exceeds the category average of 15.96%.
The fund shows a favorable risk profile with a beta below 1 across longer horizons (0.88-0.94) and downside capture of just 84.67% over 12Y versus upside capture of 89.08%, indicating it loses less than the benchmark in declines. It has experienced 10 drawdown events greater than 10%, which is expected for a mid-cap fund, though the current max drawdown is shallow at -0.34% with a 32-day duration. Calmar ratios between 0.58 and 0.73 across horizons reflect reasonable risk-adjusted returns.
The 39-stock portfolio is moderately concentrated, with the top 10 holdings comprising roughly 49.7% of NAV, led by Prestige Estates (7.27%) and Max Healthcare (6.5%). Healthcare Services is the largest sector at 17.2%, followed by Banks (14.0%) and Retailing (13.2%), with meaningful exposure to financials and consumer-facing businesses. Notable positions in newer listings like Meesho (4.84%) add growth orientation but also valuation and listing-history risk.
The fund outperforms category average SIP XIRR at every measured horizon, with the widest gaps at 3Y (24.11% vs 19.81%) and 12Y (21.32% vs 18.57%). Consistent positive alpha versus the NIFTY Midcap 150 across 1Y to 15Y windows demonstrates durable stock selection rather than a single-period fluke. Calendar-year returns show strong upcycle performance (79.21% in 2014, 46.15% in 2017, 45.15% in 2024) but also weak years like -3.51% in 2018 and 1.03% in 2022, typical of mid-cap cyclicality.
This fund suits investors seeking mid-cap growth exposure with a proven long-term track record of benchmark outperformance and better-than-category returns. A minimum horizon of 5-7 years is advisable, given mid-cap volatility and the fund's 10 drawdown events exceeding 10%. Investors should have a moderately high risk tolerance and use SIPs to navigate interim volatility.
- Consistent alpha over NIFTY Midcap 150 across all horizons from 1Y to 15Y, including 8.42% over 3Y
- SIP XIRR beats category averages at every horizon, with 3Y XIRR of 24.11% versus the category's 19.81%
- Favorable capture asymmetry with 12Y downside capture of 84.67% versus upside capture of 89.08%, cushioning market declines
- Concentrated sector bets in Healthcare Services (17.2%), Banks (14.0%), and Realty (8.8%) expose the fund to sector-specific downturns
- Ten drawdown events greater than 10% and weak calendar years such as -3.51% in 2018 highlight significant interim volatility inherent to mid-cap investing
Generated on 25-10-2026, 2:29 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 | ₹13.16 L | 26.2% | -43.8% | 125.2% |
| 3 Years | ₹36.00 L | ₹48.31 L | 21.0% | -14.8% | 44.7% |
| 5 Years | ₹60.00 L | ₹99.99 L | 20.4% | -3.2% | 37.1% |
| 7 Years | ₹84.00 L | ₹1.71 Cr | 20.6% | 5.5% | 30.3% |
| 10 Years | ₹1.20 Cr | ₹3.62 Cr | 21.2% | 16.8% | 25.0% |
| 12 Years | ₹1.44 Cr | ₹5.64 Cr | 21.4% | 18.3% | 24.3% |
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% | +4.4% |
| 3 Years | 21.0% | 17.2% | 19.8% | +3.8% |
| 5 Years | 20.4% | 16.5% | 20.4% | +3.9% |
| 7 Years | 20.6% | 16.8% | 19.4% | +3.8% |
| 10 Years | 21.2% | 16.6% | 19.3% | +4.6% |
| 12 Years | 21.4% | 16.3% | 18.6% | +5.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 24.9% | 18.1% | -23.2% | 107.5% | 0.73 | 4.08 | 89% | — | — |
| 3 Years | 21.5% | 23.4% | -1.8% | 41.3% | 1.83 | 18.35 | 100% | — | — |
| 5 Years | 20.3% | 20.3% | 2.7% | 34.9% | 2.06 | 60.74 | 100% | — | — |
| 10 Years | 20.6% | 20.3% | 16.4% | 24.4% | 8.91 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.53 | 1.00 | 101.3% | 96.2% | -0.5% | -5.0% |
| 3 Years | +8.99 | 0.95 | 98.2% | 89.7% | 21.8% | 13.1% |
| 5 Years | +4.89 | 0.92 | 94.5% | 89.5% | 17.1% | 12.7% |
| 7 Years | +4.28 | 0.92 | 91.8% | 87.3% | 22.5% | 19.3% |
| 10 Years | +4.43 | 0.89 | 89.7% | 84.8% | 18.3% | 14.8% |
| 12 Years | +3.95 | 0.89 | 89.2% | 84.7% | 18.2% | 15.3% |
| 15 Years | +4.82 | 0.88 | 89.0% | 83.3% | 18.4% | 14.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Prestige Estates Projects Limited | 7.33% |
| 2 | Max Healthcare Institute Limited | 7.21% |
| 3 | Meesho Ltd | 5.42% |
| 4 | The Federal Bank Limited | 5.37% |
| 5 | Manipal Health Enterprises Ltd | 4.44% |
| 6 | Eternal Limited | 4.14% |
| 7 | Global Health Limited | 3.97% |
| 8 | L&T Finance Limited | 3.91% |
| 9 | AU Small Finance Bank Limited | 3.81% |
| 10 | IndusInd Bank Limited ^^^ | 3.51% |