Sundaram Mid Cap Fund
Direct · GrowthAI Summary
Sundaram Mid Cap Fund has delivered a 3Y SIP XIRR of 21.53% and 5Y of 18.98%, beating the category average SIP XIRR of 19.95% and 20.5% respectively at 3Y but lagging at 5Y and longer horizons (10Y XIRR of 17.59% vs category 19.34%). Against the NIFTY Midcap 150, the fund shows positive alpha over 3Y (4.17%) and 5Y (2.71%) but negative alpha over 7Y (-0.30%) and 10Y (-0.68%), indicating recent outperformance after a period of trailing the benchmark. Calendar year returns show strong dispersion, ranging from -14.54% in 2018 to 75.99% in 2014.
The fund's beta of around 0.90-0.94 across horizons and consistently lower downside capture (89-94%) versus upside capture suggests it has cushioned losses slightly better than the benchmark while participating modestly less in rallies. It has experienced 8 drawdown events exceeding 10%, with the maximum drawdown lasting 805 days and taking 291 days to recover, reflecting the extended recovery cycles typical of mid-cap investing. Calmar ratios between 0.35 and 0.51 across horizons indicate moderate risk-adjusted returns.
The portfolio is well diversified with 72 holdings, and the top 10 positions are modestly sized between 1.88% and 2.94% of NAV, led by Mahindra & Mahindro Financial Services, Kalyan Jewellers, and Cummins India. Sector allocation is spread across financials (Banks at 9.5%), industrials (Industrial Products at 6.7%), and consumer-facing themes (Consumer Durables at 6.7%), with no single sector dominating. This balanced spread across financials, manufacturing, and consumption reduces single-theme concentration risk.
The fund outperforms the category on SIP XIRR at 1Y (17.0% vs 16.23%) and 3Y (21.53% vs 19.95%), but underperforms at 5Y (18.98% vs 20.5%), 7Y, and 10Y horizons, suggesting its edge is more recent rather than sustained over the long term. The strong 3Y alpha of 4.17% against the NIFTY Midcap 150 supports its recent competitive positioning. Long-term lump-sum CAGRs (15Y fund CAGR of 15.67% vs benchmark 14.84%) show it has broadly kept pace with the mid-cap universe over very long periods.
This fund suits investors seeking mid-cap exposure with a long time horizon of at least 7-10 years, given the 805-day maximum drawdown duration and the volatility evident in calendar year returns. It is appropriate for investors with high risk tolerance who can tolerate drawdowns exceeding 10% and multi-year recovery periods. A SIP approach is well suited here, as the fund's 3Y SIP XIRR of 21.53% demonstrates the benefit of staggered investing through mid-cap cycles.
- Strong recent SIP performance with 3Y XIRR of 21.53%, ahead of the category average of 19.95%
- Consistently lower downside capture (89-94%) than upside capture across horizons, indicating better loss protection than the benchmark
- Well-diversified portfolio of 72 holdings with no single stock above 2.94% of NAV
- Underperformance versus category average SIP XIRR at 5Y (18.98% vs 20.5%), 7Y, and 10Y horizons, indicating weaker long-term consistency
- Eight drawdown events exceeding 10% with a maximum drawdown lasting 805 days, highlighting prolonged recovery risk inherent to mid-cap investing
Generated on 09-10-2026, 3:16 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 | ₹12.94 L | 23.6% | -57.2% | 130.7% |
| 3 Years | ₹36.00 L | ₹48.36 L | 18.1% | -26.5% | 43.2% |
| 5 Years | ₹60.00 L | ₹90.88 L | 16.5% | -11.9% | 35.6% |
| 7 Years | ₹84.00 L | ₹1.44 Cr | 16.2% | -0.8% | 27.2% |
| 10 Years | ₹1.20 Cr | ₹3.02 Cr | 17.6% | 13.2% | 21.6% |
| 12 Years | ₹1.44 Cr | ₹4.48 Cr | 17.8% | 15.2% | 20.8% |
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% | 21.9% | 16.0% | +1.8% |
| 3 Years | 18.1% | 17.2% | 19.8% | +0.9% |
| 5 Years | 16.5% | 16.5% | 20.4% | +0.0% |
| 7 Years | 16.2% | 16.8% | 19.4% | -0.5% |
| 10 Years | 17.6% | 16.6% | 19.3% | +0.9% |
| 12 Years | 17.8% | 16.3% | 18.6% | +1.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.3% | 14.7% | -33.4% | 100.7% | 0.59 | 2.12 | 85% | — | — |
| 3 Years | 18.7% | 20.9% | -10.5% | 43.4% | 1.10 | 3.62 | 92% | — | — |
| 5 Years | 16.6% | 15.9% | -0.9% | 33.5% | 1.26 | 10.34 | 100% | — | — |
| 10 Years | 17.4% | 16.9% | 13.5% | 21.5% | 5.53 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +0.42 | 0.94 | 94.7% | 93.8% | 0.1% | -0.8% |
| 3 Years | +3.94 | 0.90 | 93.2% | 89.1% | 16.1% | 12.7% |
| 5 Years | +2.66 | 0.91 | 93.3% | 90.4% | 14.3% | 12.2% |
| 7 Years | -0.38 | 0.92 | 92.0% | 91.7% | 19.3% | 20.8% |
| 10 Years | -0.81 | 0.91 | 90.0% | 90.0% | 13.8% | 15.4% |
| 12 Years | +0.36 | 0.92 | 91.3% | 90.3% | 15.6% | 16.1% |
| 15 Years | +1.53 | 0.91 | 91.8% | 89.6% | 15.7% | 14.8% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Mahindra & Mahindra Financial Services Ltd | 2.74% |
| 2 | Kalyan Jewellers India Ltd | 2.58% |
| 3 | Cummins India Ltd | 2.39% |
| 4 | The Federal Bank Ltd | 2.36% |
| 5 | IDFC First Bank Ltd | 2.25% |
| 6 | Thermax Ltd | 2.20% |
| 7 | Sona BLW Precision Forgings Ltd | 2.02% |
| 8 | Coforge Ltd | 2.02% |
| 9 | The Phoenix Mills Ltd | 1.96% |
| 10 | Coromandel International Ltd | 1.91% |