Mirae Asset Mid Cap Fund
Direct · GrowthAI Summary
Mirae Asset Mid Cap Fund has delivered strong SIP returns across horizons, with XIRR of 29.23% (1Y), 22.74% (3Y), 22.68% (5Y), and 21.33% (7Y), consistently beating the category average SIP XIRR of 21.6%, 19.93%, 19.38%, and 19.29% respectively. On a lump-sum basis, the fund has outpaced the NIFTY Midcap 150 over most periods, with a 7Y CAGR of 23.72% versus the benchmark's 22.1% and positive alpha across all measured windows. Calendar year returns show strong upside years such as 48.86% in 2021 and 35.51% in 2023, though 2025 was muted at 9.79%.
The fund exhibits a beta below 1 (0.89-0.94) with downside capture consistently under 90.1%, indicating it has historically fallen less than the benchmark during declines. Risk-adjusted performance is solid, with positive alpha across all windows (4.06% at 1Y, 2.67% at 7Y) and Calmar ratios of 0.64-0.75. Five drawdown events exceeding 10% reflect the inherent volatility of the mid-cap segment, so investors should expect meaningful interim declines.
Detailed holdings and sector allocation data were not provided in this analysis, so specific top holdings and concentration levels cannot be assessed. As a SEBI-mandated Mid Cap Fund, the portfolio must hold at least 65% in mid-cap equities, which inherently carries higher concentration risk than large-cap or diversified funds. Investors should review the latest factsheet for current stock and sector weights before investing.
The fund's SIP XIRR beats the category average across all comparable horizons, with the widest gap at 1Y (29.23% vs 21.6%) and a steady edge of roughly 2-3 percentage points at 3Y, 5Y, and 7Y. Positive alpha versus the NIFTY Midcap 150 across 1Y through 15Y windows suggests consistent benchmark outperformance rather than a single lucky period. This combination of category leadership and benchmark alpha points to durable stock selection.
This fund suits investors with a high risk tolerance seeking growth-oriented mid-cap exposure, ideally as a satellite holding within a diversified portfolio. A minimum horizon of 5-7 years is recommended, as mid-cap returns can be volatile over shorter periods, evidenced by five drawdowns exceeding 10%. SIP investors benefit most, given the fund's strong SIP XIRR track record versus both category and benchmark.
- SIP XIRR beats category averages at every horizon, e.g., 22.68% vs 19.38% at 5Y
- Consistent positive alpha versus NIFTY Midcap 150 across all windows from 1Y to 15Y
- Downside capture below 90% in all periods, cushioning losses relative to the benchmark
- Five drawdown events exceeding 10% highlight significant volatility typical of mid-cap funds
- No holdings or sector data provided, limiting assessment of concentration risk
Generated on 06-09-2026, 7:47 PM. 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 | ₹13.12 L | 29.2% | -27.8% | 127.5% |
| 3 Years | ₹36.00 L | ₹49.18 L | 22.7% | 4.9% | 35.4% |
| 5 Years | ₹60.00 L | ₹99.40 L | 22.7% | 11.7% | 34.2% |
| 7 Years | ₹84.00 L | ₹1.78 Cr | 21.3% | 19.8% | 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 | 29.2% | 22.0% | 21.6% | +7.2% |
| 3 Years | 22.7% | 17.3% | 19.9% | +5.4% |
| 5 Years | 22.7% | 16.5% | 19.4% | +6.2% |
| 7 Years | 21.3% | 16.8% | 19.3% | +4.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 28.1% | 19.5% | -4.3% | 119.6% | 0.81 | 10.14 | 97% | — | — |
| 3 Years | 25.0% | 23.9% | 13.3% | 41.7% | 3.31 | — | 100% | — | — |
| 5 Years | 25.5% | 27.1% | 16.2% | 35.3% | 3.60 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.06 | 0.93 | 94.9% | 90.0% | 13.7% | 9.9% |
| 3 Years | +1.65 | 0.91 | 91.6% | 89.5% | 18.6% | 18.1% |
| 5 Years | +0.75 | 0.89 | 90.1% | 88.9% | 17.0% | 17.5% |
| 7 Years | +2.67 | 0.93 | 93.0% | 90.0% | 23.7% | 22.1% |
| 10 Years | +1.66 | 0.93 | 93.0% | 90.0% | 16.1% | 15.0% |
| 12 Years | +1.28 | 0.93 | 93.0% | 90.0% | 13.2% | 12.4% |
| 15 Years | +0.91 | 0.93 | 93.0% | 90.0% | 10.5% | 9.8% |