SBI Mid Cap Fund
Direct · GrowthAI Summary
SBI Mid Cap Fund has delivered strong long-term SIP returns of 18.65% over 10 years and 17.47% over 5 years, though these trail the category average SIP XIRR of 19.41% and 19.38% respectively. On a lump-sum basis, the fund has underperformed the NIFTY MIDCAP 150 across most windows, with Fund CAGR of 13.93% versus the benchmark's 18.08% over 3 years, and positive alpha only over 5Y, 7Y, 12Y and 15Y periods. Recent performance has been particularly weak, with calendar year returns of just 1.2% in 2025 and 3.64% in 2026.
The fund exhibits a defensive profile with a beta of roughly 0.74-0.83 across periods, capturing only about 74-82% of both upside and downside moves relative to the benchmark. Seven drawdown events exceeding 10% reflect typical mid-cap volatility, and the maximum drawdown took 805 days with a 252-day recovery, indicating prolonged drawdown periods. Calmar ratios between 0.40 and 0.53 across horizons suggest moderate risk-adjusted returns consistent with the fund's lower-volatility positioning.
The portfolio is well diversified across 49 holdings, with the top position CRISIL at just 3.04% of NAV and the top ten holdings totaling under 27%. Sector allocation is balanced, led by Finance at 9.3%, Industrial Products at 8.2%, and Pharmaceuticals at 8.1%, with no single sector dominating. The fund maintains meaningful exposure to defensive and infrastructure-linked themes such as Power, Insurance, and Cement alongside financials.
The fund trails the category average SIP XIRR across all listed horizons, most notably 17.47% versus 19.38% over 5 years and 18.65% versus 19.41% over 10 years. Its long-term record shows consistency, with lump-sum CAGRs of 16.39% over 15 years and positive alpha of 2.64% over that period, suggesting the underperformance is more recent. The consistently low beta indicates the fund behaves as a lower-volatility mid-cap offering rather than a high-octane category performer.
This fund suits investors seeking mid-cap exposure with below-benchmark volatility, accepting that lower downside capture comes with lower upside participation. A horizon of at least 7 years is appropriate given the 805-day maximum drawdown duration and the fund's demonstrated strength over 7Y and longer windows. Investors should have moderate-to-high risk tolerance and should not expect the fund to lead the mid-cap category during strong bull phases.
- Strong long-term SIP returns of 18.65% over 10 years and 18.18% over 7 years, with positive alpha over 7Y, 12Y and 15Y periods
- Defensive risk profile with beta around 0.82 and downside capture near 80%, cushioning mid-cap drawdowns
- Well-diversified portfolio of 49 stocks with a top holding of only 3.04% and balanced sector allocation
- Underperforms the category average SIP XIRR across every listed horizon, including 17.47% versus 19.38% over 5 years
- Lags the NIFTY MIDCAP 150 on lump-sum CAGR in most windows, with negative alpha of -1.43% over 1Y and -1.14% over 3Y
- Weak recent calendar year returns of 1.2% in 2025 and 3.64% in 2026, plus a maximum drawdown lasting 805 days
Generated on 06-09-2026, 8:01 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 | ₹12.91 L | 24.0% | -52.8% | 130.5% |
| 3 Years | ₹36.00 L | ₹47.72 L | 18.5% | -24.1% | 47.0% |
| 5 Years | ₹60.00 L | ₹98.28 L | 17.5% | -11.9% | 33.9% |
| 7 Years | ₹84.00 L | ₹1.64 Cr | 18.2% | -0.9% | 27.7% |
| 10 Years | ₹1.20 Cr | ₹3.16 Cr | 18.6% | 14.9% | 22.0% |
| 12 Years | ₹1.44 Cr | ₹4.45 Cr | 17.8% | 14.7% | 21.1% |
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 | 24.0% | 22.0% | 21.6% | +2.0% |
| 3 Years | 18.5% | 17.3% | 19.9% | +1.2% |
| 5 Years | 17.5% | 16.5% | 19.4% | +1.0% |
| 7 Years | 18.2% | 16.8% | 19.3% | +1.4% |
| 10 Years | 18.6% | 16.6% | 19.4% | +2.0% |
| 12 Years | 17.8% | 16.3% | 18.8% | +1.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.9% | 15.8% | -31.7% | 117.5% | 0.59 | 2.30 | 83% | — | — |
| 3 Years | 19.4% | 19.6% | -11.0% | 46.8% | 1.05 | 4.17 | 93% | — | — |
| 5 Years | 18.0% | 17.3% | -1.6% | 36.3% | 1.46 | 10.67 | 99% | — | — |
| 10 Years | 18.3% | 18.2% | 14.5% | 24.0% | 4.31 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | -1.43 | 0.82 | 80.7% | 80.1% | 7.8% | 9.9% |
| 3 Years | -1.14 | 0.74 | 74.5% | 73.8% | 13.9% | 18.1% |
| 5 Years | +0.45 | 0.77 | 77.4% | 75.5% | 15.4% | 17.5% |
| 7 Years | +2.41 | 0.82 | 81.4% | 77.8% | 21.7% | 22.1% |
| 10 Years | -0.42 | 0.82 | 81.0% | 80.0% | 14.5% | 16.8% |
| 12 Years | +1.41 | 0.83 | 82.4% | 79.8% | 16.5% | 16.9% |
| 15 Years | +2.64 | 0.82 | 82.0% | 77.8% | 16.4% | 15.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | CRISIL Ltd. | 3.04% |
| 2 | Torrent Power Ltd. | 2.90% |
| 3 | Supreme Industries Ltd. | 2.85% |
| 4 | Biocon Ltd. | 2.73% |
| 5 | Adani Energy Solutions Ltd. | 2.70% |
| 6 | ICICI Lombard General Insurance Company Ltd. | 2.67% |
| 7 | Sundaram Finance Ltd. | 2.67% |
| 8 | Shree Cement Ltd. | 2.67% |
| 9 | The Federal Bank Ltd. | 2.65% |
| 10 | Bharat Heavy Electricals Ltd. | 2.51% |