SBI Mid Cap Fund
Direct · GrowthAI Summary
SBI Mid Cap Fund has delivered solid long-term SIP returns, with 10Y XIRR of 18.52% and 5Y XIRR of 20.0%, though it trails the category average SIP XIRR across most periods (e.g., 18.52% vs 19.32% at 10Y). Against the NIFTY Midcap 150 benchmark, the fund has underperformed on a lump-sum CAGR basis in most windows, with negative alpha at 1Y (-1.53%), 3Y (-2.58%), and 10Y (-0.48%), but positive alpha at 7Y (2.15%) and 15Y (2.54%). Recent performance is weak, with 2026 calendar year returns of -7.64% and 2025 at just 1.2%.
The fund exhibits a defensive profile relative to its benchmark, with beta consistently below 1 (0.75-0.84) and downside capture of roughly 75-83%, meaning it falls less than the index in corrections. It has experienced 7 drawdown events exceeding 10%, with the maximum drawdown lasting 805 days and taking 252 days to recover, reflecting the extended recovery periods typical of mid-cap investing. Calmar ratios between 0.40 and 0.53 across horizons indicate moderate risk-adjusted returns.
The portfolio holds 51 stocks with a well-diversified top 10, where the largest position, Torrent Power, is only 3.48% of NAV, limiting single-stock risk. Sector allocation is balanced, with the top five sectors (Finance 8.4%, Pharma 7.9%, Industrial Products 7.8%, Power 6.2%, Insurance 6.1%) showing no excessive concentration. Holdings span financials, healthcare, industrials, and consumer-facing businesses like FSN E-Commerce, providing breadth across the mid-cap universe.
The fund lags the category average SIP XIRR at every horizon, for example 18.0% vs 19.81% at 3Y and 20.0% vs 20.43% at 5Y, placing it in the middle of the mid-cap pack rather than among leaders. Its long-term record shows consistency in delivering strong absolute returns, with 12Y XIRR of 17.5% and positive alpha over 7Y and 15Y windows. However, the persistent short-to-medium-term underperformance versus both benchmark and peers suggests recent competitive pressure.
This fund suits investors with a high risk tolerance and a horizon of at least 7 years, given the 805-day maximum drawdown duration and mid-cap volatility. It is appropriate as a satellite allocation within a diversified portfolio for those seeking mid-cap exposure with a relatively defensive, lower-beta approach. Investors should be prepared for sharp calendar-year swings, ranging from -17.1% in 2018 to +72.25% in 2014.
- Strong long-term SIP returns with 10Y XIRR of 18.52% and 12Y XIRR of 17.5%
- Defensive downside capture of 75-83% with beta below 0.85, cushioning corrections better than the benchmark
- Well-diversified 51-stock portfolio with no holding above 3.48% of NAV and balanced sector exposure
- Underperforms the category average SIP XIRR at every measured horizon, including 18.0% vs 19.81% at 3Y
- Negative alpha versus NIFTY Midcap 150 at 1Y, 3Y, and 10Y, with weak recent calendar-year returns (-7.64% in 2026)
Generated on 26-10-2026, 2:15 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 | ₹12.88 L | 23.6% | -52.8% | 130.5% |
| 3 Years | ₹36.00 L | ₹47.49 L | 18.3% | -24.1% | 47.0% |
| 5 Years | ₹60.00 L | ₹97.28 L | 17.3% | -11.9% | 33.9% |
| 7 Years | ₹84.00 L | ₹1.63 Cr | 18.1% | -0.9% | 27.7% |
| 10 Years | ₹1.20 Cr | ₹3.13 Cr | 18.5% | 14.6% | 22.0% |
| 12 Years | ₹1.44 Cr | ₹4.39 Cr | 17.5% | 14.1% | 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 | 23.6% | 21.8% | 15.9% | +1.8% |
| 3 Years | 18.3% | 17.2% | 19.8% | +1.1% |
| 5 Years | 17.3% | 16.5% | 20.4% | +0.8% |
| 7 Years | 18.1% | 16.8% | 19.4% | +1.4% |
| 10 Years | 18.5% | 16.6% | 19.3% | +1.9% |
| 12 Years | 17.5% | 16.3% | 18.6% | +1.2% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.6% | 15.3% | -31.7% | 117.5% | 0.58 | 2.26 | 83% | — | — |
| 3 Years | 19.2% | 19.4% | -11.0% | 46.8% | 1.05 | 4.15 | 93% | — | — |
| 5 Years | 17.9% | 16.8% | -1.6% | 36.3% | 1.45 | 10.69 | 99% | — | — |
| 10 Years | 18.1% | 17.4% | 12.7% | 24.0% | 4.04 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | -1.88 | 0.84 | 82.0% | 83.0% | -5.0% | -5.0% |
| 3 Years | -2.50 | 0.74 | 74.3% | 75.3% | 8.9% | 13.1% |
| 5 Years | -0.40 | 0.77 | 77.3% | 76.2% | 10.9% | 12.7% |
| 7 Years | +2.01 | 0.82 | 81.1% | 77.9% | 19.0% | 19.3% |
| 10 Years | -0.58 | 0.83 | 81.1% | 80.3% | 12.8% | 14.8% |
| 12 Years | +0.72 | 0.83 | 82.0% | 80.0% | 14.5% | 15.3% |
| 15 Years | +2.52 | 0.82 | 82.0% | 78.0% | 15.6% | 14.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Torrent Power Ltd. | 3.48% |
| 2 | Multi Commodity Exchange of India Ltd. | 3.12% |
| 3 | Supreme Industries Ltd. | 2.96% |
| 4 | SRF Ltd. | 2.87% |
| 5 | CRISIL Ltd. | 2.87% |
| 6 | ICICI Lombard General Insurance Company Ltd. | 2.73% |
| 7 | Bharat Heavy Electricals Ltd. | 2.68% |
| 8 | Sundaram Finance Ltd. | 2.61% |
| 9 | Biocon Ltd. | 2.48% |
| 10 | FSN E-Commerce Ventures Ltd. | 2.47% |