Union Mid Cap Fund
Direct · GrowthAI Summary
Union Mid Cap Fund has delivered an XIRR of 22.23% over 3 years and 20.05% over 5 years, beating the category average SIP XIRR of 19.93% and 19.38% respectively, though its 1Y XIRR of 18.23% trails the category's 21.6%. Against the NIFTY MIDCAP 150, the fund has generated positive alpha across most periods, including 4.14% over 1Y and 2.23% over 3Y, with lump-sum CAGR outperformance in 1Y (13.9% vs 9.86%) and 3Y (19.75% vs 18.08%). The 5Y lump-sum CAGR of 17.39% is marginally below the benchmark's 17.46%, indicating alpha has been modest over the longest horizon.
The fund shows strong downside protection with downside capture of 86.6% to 93.74% across periods, consistently lower than its upside capture, which supports its positive alpha. The Calmar Ratio of 1.31 over 1Y and 1.14 over 3Y and 5Y indicates healthy risk-adjusted returns relative to its maximum drawdown. However, the fund has experienced 4 drawdown events exceeding 10%, with the maximum drawdown taking 234 days to recover, underscoring the inherent volatility of the mid-cap segment.
The portfolio is well diversified across 71 holdings, with the top position, Federal Bank, at just 3.73% of NAV and the top 10 holdings totaling roughly 23.35%. Sector allocation is spread across Auto Components (11.2%), Banks (9.6%), Pharmaceuticals (7.4%), Electrical Equipment (6.6%), and Industrial Products (6.3%), avoiding heavy concentration in any single sector. Financial services exposure across banks, insurance, fintech, and capital markets is notable but fragmented across multiple sub-sectors.
The fund outperforms the category average SIP XIRR over 3Y (22.23% vs 19.93%) and 5Y (20.05% vs 19.38%), placing it in the upper half of mid-cap peers on SIP returns. Its consistent positive alpha over 1Y, 3Y, 7Y, 10Y, and 15Y periods, combined with a declining beta from 0.97 to 0.89 over longer horizons, suggests a repeatable defensive-tilted stock selection process. Calendar year returns show strong up-year performance (82.77% in 2020, 53.25% in 2021, 33.84% in 2023) but modest results in weaker years like 2025 (3.25%) and 2022 (-1.63%).
This fund suits investors seeking mid-cap growth exposure with a moderately defensive profile, given its below-benchmark downside capture and diversified portfolio. A time horizon of at least 5 years is recommended to ride out mid-cap volatility, as evidenced by the 4 drawdown events exceeding 10% and a 234-day recovery from the maximum drawdown. Investors should have a high risk tolerance and treat this as a satellite allocation within a broader equity portfolio rather than a core holding.
- Consistent positive alpha versus NIFTY MIDCAP 150 across 1Y (4.14%), 3Y (2.23%), and 7Y (3.08%) periods
- Superior downside capture (86.6% to 93.74%) relative to upside capture, providing better protection in falling markets
- 3Y and 5Y SIP XIRR of 22.23% and 20.05% both exceed the category averages of 19.93% and 19.38%
- 1Y XIRR of 18.23% trails the category average of 21.6%, indicating recent underperformance versus peers
- 5Y lump-sum CAGR of 17.39% is marginally below the benchmark's 17.46%, with alpha of only 0.87% over 5Y
Generated on 01-09-2026, 2:46 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 | ₹13.02 L | 28.0% | -23.9% | 112.2% |
| 3 Years | ₹36.00 L | ₹48.42 L | 21.6% | 6.2% | 36.8% |
| 5 Years | ₹60.00 L | ₹96.89 L | 19.5% | 12.6% | 25.0% |
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 | 28.0% | 22.1% | 21.6% | +5.9% |
| 3 Years | 21.6% | 17.3% | 19.9% | +4.2% |
| 5 Years | 19.5% | 16.5% | 19.4% | +3.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 27.8% | 18.4% | -5.6% | 107.8% | 0.82 | 9.57 | 97% | — | — |
| 3 Years | 24.3% | 23.0% | 14.8% | 39.7% | 3.34 | — | 100% | — | — |
| 5 Years | 24.3% | 23.7% | 16.4% | 34.5% | 3.28 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY MIDCAP 150
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.14 | 0.97 | 98.6% | 93.7% | 13.9% | 9.9% |
| 3 Years | +2.23 | 0.95 | 94.7% | 92.1% | 19.8% | 18.1% |
| 5 Years | +0.87 | 0.91 | 91.2% | 89.8% | 17.4% | 17.5% |
| 7 Years | +3.08 | 0.89 | 90.4% | 86.6% | 27.5% | 26.6% |
| 10 Years | +1.83 | 0.89 | 90.4% | 86.6% | 18.5% | 17.9% |
| 12 Years | +1.37 | 0.89 | 90.4% | 86.6% | 15.2% | 14.7% |
| 15 Years | +0.93 | 0.89 | 90.4% | 86.6% | 12.0% | 11.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | The Federal Bank Ltd. | 3.73% |
| 2 | Max Financial Services Ltd. | 2.85% |
| 3 | Fortis Healthcare Ltd. | 2.70% |
| 4 | One 97 Communications Ltd. | 2.49% |
| 5 | Nippon Life India Asset Management Ltd. | 2.47% |
| 6 | IPCA Laboratories Ltd. | 2.18% |
| 7 | Bharat Heavy Electricals Ltd. | 2.09% |
| 8 | The Phoenix Mills Ltd. | 1.97% |
| 9 | Coforge Ltd. | 1.96% |
| 10 | Shriram Finance Ltd. | 1.91% |