Tata Mid Cap Fund
Direct · GrowthAI Summary
Tata Mid Cap Fund has delivered consistent SIP XIRR across horizons — 20.29% over 3Y, 20.25% over 5Y, and 19.26% over 10Y. It has beaten the NIFTY Midcap 150 on a point-to-point CAGR basis over 1Y (-2.67% vs -5.0%), 3Y (13.47% vs 13.14%), 5Y (12.84% vs 12.69%), and 10Y (15.41% vs 14.77%), and shows positive alpha across all measured windows, with a strong 2.83% alpha over 15Y. Its 5Y XIRR of 20.25% trails the category average of 20.42%, though 3Y and 12Y XIRR beat category averages.
The maximum drawdown of -35.10% is significant, consistent with midcap market volatility, and the fund took 227 days to recover from it, with 10 drawdown events exceeding 10%. Beta of roughly 0.89-0.91 across windows means it moves somewhat less than the index, and downside capture consistently below upside capture (e.g., 87.43% vs 89.59% over 10Y) indicates favorable loss protection in market declines. Calmar ratios of 0.51-0.66 across horizons reflect moderate risk-adjusted returns for the midcap category.
The fund is well diversified across 56 holdings, with the top 10 positions limited to under 3.5% each, indicating a genuinely spread out midcap book. Financials dominate — Banks at 11.2% plus Capital Markets and Finance exposure mean roughly one-fifth of the portfolio in financial services, while Pharmaceuticals (9.9%), Auto Components (8.4%), and Electrical Equipment (5.1%) provide other meaningful bets. The concentration in Indian financial names like AU Small Finance Bank, IndusInd Bank, and Federal Bank ties returns partly to the credit cycle.
The fund's 1Y XIRR of 16.48% and 3Y XIRR of 20.29% beat category averages of 15.9% and 19.78% respectively, but its 5Y (20.25% vs 20.42%) and 7Y (18.8% vs 19.37%) XIRR trail peers slightly. Calendar-year returns show wide dispersion — from 80.96% in 2014 and 49.52% in 2017 to -12.04% in 2018 and -4.77% in 2026 — typical of midcap funds but signaling inconsistency in shorter periods. Its long-run alpha, especially the 2.83% over 15 years, demonstrates durable benchmark outperformance versus the NIFTY Midcap 150.
This fund suits investors with high risk tolerance who can tolerate drawdowns of 30% or more and seek equity returns through the midcap cycle. A time horizon of at least 5-7 years is appropriate given the year-to-year volatility and the need for SIP investing to average out these swings. It is best used as a satellite allocation within a diversified equity portfolio rather than a core holding.
- Consistent positive alpha versus NIFTY Midcap 150, including 2.83% over 15 years, with downside capture consistently below upside capture across horizons
- Strong SIP XIRR of 20.29% over 3Y and 19.26% over 10Y, beating category averages in those windows
- Well-diversified portfolio of 56 holdings with no top-10 position above 3.42% of NAV
- Maximum drawdown of -35.10% required 227 days to recover, with 10 drawdown events exceeding 10% — significant downside for investors
- 5Y (20.25% vs 20.42%) and 7Y (18.8% vs 19.37%) SIP XIRR lag category averages, and heavy financials exposure (~20% including Banks, Finance, Capital Markets) adds sector-concentration risk
Generated on 03-11-2026, 4:42 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 | 24.4% | -49.1% | 131.3% |
| 3 Years | ₹36.00 L | ₹47.17 L | 18.8% | -17.6% | 42.8% |
| 5 Years | ₹60.00 L | ₹95.19 L | 18.3% | -6.0% | 34.6% |
| 7 Years | ₹84.00 L | ₹1.64 Cr | 18.8% | 3.4% | 28.1% |
| 10 Years | ₹1.20 Cr | ₹3.25 Cr | 19.2% | 15.9% | 23.1% |
| 12 Years | ₹1.44 Cr | ₹4.80 Cr | 18.7% | 15.6% | 21.8% |
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 | 24.4% | 21.8% | 15.9% | +2.6% |
| 3 Years | 18.8% | 17.2% | 19.8% | +1.6% |
| 5 Years | 18.3% | 16.5% | 20.4% | +1.9% |
| 7 Years | 18.8% | 16.8% | 19.4% | +2.0% |
| 10 Years | 19.2% | 16.6% | 19.3% | +2.6% |
| 12 Years | 18.7% | 16.3% | 18.6% | +2.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 23.3% | 14.6% | -26.6% | 106.6% | 0.62 | 2.89 | 84% | — | — |
| 3 Years | 19.7% | 21.4% | -4.1% | 40.3% | 1.49 | 9.54 | 98% | — | — |
| 5 Years | 18.6% | 18.4% | 0.5% | 32.9% | 1.83 | 22.26 | 100% | — | — |
| 10 Years | 18.9% | 18.5% | 14.4% | 23.9% | 5.16 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.19 | 0.90 | 89.7% | 87.7% | -2.7% | -5.0% |
| 3 Years | +1.11 | 0.88 | 87.6% | 85.7% | 13.5% | 13.1% |
| 5 Years | +0.82 | 0.89 | 89.5% | 88.0% | 12.8% | 12.7% |
| 7 Years | +0.51 | 0.91 | 90.4% | 89.3% | 18.7% | 19.3% |
| 10 Years | +1.41 | 0.91 | 89.6% | 87.4% | 15.4% | 14.8% |
| 12 Years | +1.21 | 0.90 | 89.2% | 87.1% | 15.7% | 15.3% |
| 15 Years | +2.83 | 0.89 | 89.1% | 85.3% | 16.5% | 14.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | MANKIND PHARMA LTD | 3.42% |
| 2 | BHARAT HEAVY ELECTRICALS LTD | 3.20% |
| 3 | ONE 97 COMMUNICATIONS LTD | 3.15% |
| 4 | MULTI COMMODITY EXCHANGE OF IND LTD | 2.96% |
| 5 | L&T FINANCE LTD | 2.94% |
| 6 | AU SMALL FINANCE BANK LTD | 2.93% |
| 7 | INDUSIND BANK LTD | 2.92% |
| 8 | MAX FINANCIAL SERVICES LTD | 2.81% |
| 9 | MAX HEALTHCARE INSTITUTE LTD | 2.75% |
| 10 | FEDERAL BANK LTD | 2.71% |