Sundaram Mid Cap Fund
Direct · GrowthAI Summary
Sundaram Mid Cap Fund has delivered a 3Y SIP XIRR of 22.21% and a 5Y XIRR of 18.7%, outperforming its benchmark CAGR of 18.08% and 17.46% over the same periods with positive alphas of 4.92% and 2.38%. However, its 1Y XIRR of 16.2% trails the category average of 21.6%, and over 7Y, 10Y, and 12Y its XIRR of 16.01%, 17.61%, and 18.04% lags category averages of 19.29%, 19.41%, and 18.82%. Long-term lump-sum performance is roughly in line with the NIFTY Midcap 150, with 10Y alpha of -0.53% and 12Y alpha of just 0.78%.
The fund shows a beta below 1 across all periods (0.90-0.93) with downside capture consistently below 91%, indicating it falls less than the benchmark in weak markets. It has experienced 8 drawdown events exceeding 10%, with a maximum drawdown duration of 805 days and a recovery period of 291 days, reflecting the extended recovery cycles typical of mid-cap investing. Calmar ratios between 0.34 and 0.51 across horizons suggest moderate risk-adjusted efficiency for a mid-cap fund.
The portfolio is well diversified across 72 holdings, with the top 10 positions totaling only about 25.5% of NAV and the largest holding at just 3.11%. Sector exposure is spread across Banks (9.5%), Industrial Products (6.7%), Capital Markets (6.7%), Consumer Durables (6.3%), and Auto Components (5.8%), avoiding heavy concentration in any single sector. Holdings like Mahindra & Mahindra Financial Services, Cummins India, and Kalyan Jewellers reflect a mix of financials, industrials, and consumer-facing businesses.
The fund's strongest relative performance is in the 3Y window, where its 22.21% XIRR beats the category average of 19.93%, but it underperforms category averages in the 1Y, 5Y, 7Y, and 10Y windows. Calendar year returns show high variability, ranging from -14.54% in 2018 to 75.99% in 2014, with strong years in 2023 (41.0%) and 2024 (32.33%) but muted returns in 2025 (4.74%) and 2026 (6.5%). This suggests the fund performs well in favorable mid-cap cycles but has not consistently led its peer group across all market phases.
This fund suits investors with a high risk tolerance and a horizon of at least 5-7 years, given the extended drawdown durations and mid-cap volatility evident in its history. It is appropriate as a satellite allocation within a diversified portfolio rather than a core holding, ideally through SIPs to smooth entry points. Investors should be prepared for sharp calendar-year swings and periods of underperformance versus both peers and the benchmark.
- Consistently low downside capture (88.94%-92.62%) with beta below 0.93, meaning the fund loses less than the NIFTY Midcap 150 in declining markets
- Strong 3Y performance with a 22.21% SIP XIRR beating both the benchmark CAGR of 18.08% and the category average of 19.93%, supported by a 4.92% alpha
- Highly diversified portfolio of 72 stocks with the top holding at only 3.11% of NAV, reducing single-stock risk
- Underperformance versus category average SIP XIRR across the 1Y, 5Y, 7Y, 10Y, and 12Y horizons, including a 1Y gap of 5.4 percentage points (16.2% vs 21.6%)
- Long and shallow drawdown profile with a maximum drawdown duration of 805 days and 8 drawdown events exceeding 10%, requiring significant investor patience
Generated on 03-09-2026, 3:04 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 | ₹12.96 L | 23.8% | -57.2% | 130.7% |
| 3 Years | ₹36.00 L | ₹48.46 L | 18.2% | -26.5% | 43.2% |
| 5 Years | ₹60.00 L | ₹90.82 L | 16.5% | -11.9% | 35.6% |
| 7 Years | ₹84.00 L | ₹1.43 Cr | 16.2% | -0.8% | 27.2% |
| 10 Years | ₹1.20 Cr | ₹3.03 Cr | 17.6% | 13.2% | 21.6% |
| 12 Years | ₹1.44 Cr | ₹4.52 Cr | 17.9% | 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 | 23.8% | 22.1% | 21.6% | +1.8% |
| 3 Years | 18.2% | 17.3% | 19.9% | +0.9% |
| 5 Years | 16.5% | 16.5% | 19.4% | -0.0% |
| 7 Years | 16.2% | 16.7% | 19.3% | -0.6% |
| 10 Years | 17.6% | 16.6% | 19.4% | +0.9% |
| 12 Years | 17.9% | 16.3% | 18.8% | +1.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.5% | 15.0% | -33.4% | 100.7% | 0.60 | 2.14 | 85% | — | — |
| 3 Years | 18.7% | 21.1% | -10.5% | 43.4% | 1.09 | 3.60 | 92% | — | — |
| 5 Years | 16.6% | 15.1% | -0.9% | 33.5% | 1.24 | 10.24 | 100% | — | — |
| 10 Years | 17.5% | 17.1% | 13.6% | 21.5% | 5.78 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.48 | 0.93 | 94.6% | 92.6% | 11.1% | 9.9% |
| 3 Years | +4.92 | 0.90 | 93.5% | 88.9% | 21.9% | 18.1% |
| 5 Years | +2.38 | 0.91 | 93.1% | 90.5% | 18.8% | 17.5% |
| 7 Years | +0.20 | 0.92 | 92.0% | 91.3% | 21.1% | 22.1% |
| 10 Years | -0.53 | 0.91 | 90.0% | 89.7% | 15.3% | 16.8% |
| 12 Years | +0.78 | 0.92 | 91.7% | 90.3% | 16.9% | 16.9% |
| 15 Years | +1.66 | 0.91 | 91.9% | 89.5% | 16.3% | 15.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Mahindra & Mahindra Financial Services Ltd | 3.11% |
| 2 | Cummins India Ltd | 2.75% |
| 3 | Kalyan Jewellers India Ltd | 2.72% |
| 4 | The Federal Bank Ltd | 2.71% |
| 5 | Coromandel International Ltd | 2.48% |
| 6 | BSE Ltd | 2.38% |
| 7 | IDFC First Bank Ltd | 2.23% |
| 8 | GE Vernova T and D India Ltd | 2.09% |
| 9 | Coforge Ltd | 2.02% |
| 10 | Marico Ltd | 1.98% |