Motilal Oswal Mid Cap Fund
Direct · GrowthAI Summary
Motilal Oswal Mid Cap Fund has delivered strong SIP XIRR of 23.94% over 3Y, 24.17% over 5Y, and 22.81% over 10Y, consistently beating the category averages of 19.81%, 20.44%, and 19.32% respectively. Against the NIFTY MIDCAP 150, the fund has generated positive alpha across all long-term windows, including 6.57% over 5Y and 4.62% over 3Y. However, the 1Y picture is weak, with XIRR of 10.46% trailing the category average of 15.96% and negative alpha of -2.30% versus the benchmark.
The fund exhibits a beta below 1 across most windows (around 0.88-0.91), indicating lower volatility than the benchmark, and downside capture of roughly 85-88% in long windows shows it loses less in falling markets. Eight drawdown events exceeding 10% reflect the inherent volatility of the mid-cap segment, and the recent 1Y window shows both upside capture (100.29%) and downside capture (104.01%) above 100%, meaning it moved more than the benchmark in both directions recently. Calmar ratios of roughly 0.52-0.59 across horizons indicate stable risk-adjusted efficiency over time.
The portfolio is concentrated with only 26 holdings, and the top 10 account for roughly 57.5% of NAV, led by Kalyan Jewellers (7.44%) and One 97 Communications (7.34%). Sector exposure is heavily tilted toward financials broadly defined, with Capital Markets (12.9%), Finance (10.9%), and Fintech (9.3%) together forming about a third of the portfolio, alongside IT-Software at 12.5%. This focused approach amplifies both potential outperformance and stock-specific risk.
The fund ranks as a consistent long-term outperformer, beating category SIP XIRR averages across the 3Y, 5Y, 7Y, 10Y, and 12Y horizons, often by 3-5 percentage points. Its positive alpha versus the NIFTY MIDCAP 150 across 3Y to 15Y windows reinforces sustained benchmark-beating ability. The recent 1Y underperformance versus both category and benchmark suggests shorter-term momentum has faded, likely tied to the negative calendar year returns in 2025 (-11.57%) and 2026 (-4.66%).
This fund suits aggressive investors with a high risk tolerance who can withstand mid-cap volatility, including drawdowns exceeding 10% and multi-year flat or negative stretches. A time horizon of at least 5-7 years is appropriate, given that long-term SIP XIRR of 22-24% has rewarded patient investors while 1-2 year outcomes have been erratic. It is best used as a satellite mid-cap allocation within a diversified portfolio rather than a core holding.
- Consistent long-term outperformance with SIP XIRR of 23.94% (3Y) and 24.17% (5Y), well above category averages of 19.81% and 20.44%
- Positive alpha versus NIFTY MIDCAP 150 across all windows from 3Y to 15Y, including 6.57% over 5Y, with downside capture of 85-88% indicating resilience in weak markets
- Low expense ratio of 0.85% for a mid-cap fund, supporting net returns for direct-plan investors
- Recent underperformance with 1Y XIRR of 10.46% versus the category average of 15.96% and negative alpha of -2.30%, plus negative calendar year returns in 2025 and 2026
- High concentration with only 26 holdings, a top-10 weight of roughly 57.5%, and heavy financials-sector tilt (Capital Markets, Finance, and Fintech totaling about 33%), raising stock- and sector-specific risk
Generated on 25-10-2026, 2:22 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 | ₹12.91 L | 22.6% | -50.6% | 100.4% |
| 3 Years | ₹36.00 L | ₹47.73 L | 20.3% | -19.6% | 51.9% |
| 5 Years | ₹60.00 L | ₹1.02 Cr | 20.6% | -8.5% | 44.8% |
| 7 Years | ₹84.00 L | ₹1.82 Cr | 22.9% | 10.8% | 35.5% |
| 10 Years | ₹1.20 Cr | ₹3.96 Cr | 22.8% | 17.6% | 27.3% |
| 12 Years | ₹1.44 Cr | ₹4.84 Cr | 19.1% | 17.1% | 21.0% |
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 | 22.6% | 21.9% | 15.9% | +0.8% |
| 3 Years | 20.3% | 17.2% | 19.8% | +3.1% |
| 5 Years | 20.6% | 16.5% | 20.4% | +4.1% |
| 7 Years | 22.9% | 16.8% | 19.4% | +6.2% |
| 10 Years | 22.8% | 16.6% | 19.3% | +6.2% |
| 12 Years | 19.1% | 16.3% | 18.6% | +2.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 21.9% | 15.8% | -26.8% | 102.0% | 0.59 | 2.22 | 80% | — | — |
| 3 Years | 20.5% | 21.9% | -8.2% | 43.6% | 1.10 | 5.18 | 95% | — | — |
| 5 Years | 19.6% | 17.2% | -0.4% | 41.0% | 1.34 | 12.18 | 100% | — | — |
| 10 Years | 19.9% | 19.1% | 15.9% | 24.2% | 5.89 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | -2.30 | 1.04 | 100.3% | 104.0% | -8.9% | -6.1% |
| 3 Years | +4.62 | 0.90 | 93.3% | 88.2% | 16.3% | 12.3% |
| 5 Years | +6.57 | 0.88 | 91.8% | 85.0% | 18.4% | 12.6% |
| 7 Years | +3.29 | 0.91 | 90.6% | 86.5% | 21.4% | 19.3% |
| 10 Years | +2.14 | 0.91 | 89.0% | 85.8% | 15.9% | 14.5% |
| 12 Years | +3.18 | 0.91 | 89.8% | 85.6% | 17.6% | 15.2% |
| 15 Years | +3.04 | 0.89 | 88.9% | 84.1% | 17.2% | 15.1% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Kalyan Jewellers India Limited | 7.44% |
| 2 | One 97 Communications Limited | 7.34% |
| 3 | Persistent Systems Limited | 6.33% |
| 4 | Eternal Limited | 6.22% |
| 5 | Coforge Limited | 6.13% |
| 6 | Bharti Airtel Limited | 5.44% |
| 7 | KEI Industries Limited | 5.24% |
| 8 | Aditya Birla Capital Limited | 5.03% |
| 9 | Billionbrains Garage Ventures Ltd | 4.20% |
| 10 | Multi Commodity Exchange of India Limited | 4.09% |