Top Mid Cap Mutual Funds (2026)
Ranked by 3 year return, Direct plans, as on the latest NAV · AUM as on 30-09-2026
There are 33 Mid Cap mutual funds. Their average 3 year return is 14.7% a year, and −2.3% over the last year. The highest 3 year returns: Invesco India Mid cap Fund 21.8%, HSBC Midcap Fund 21.6%, WhiteOak Capital Mid Cap Fund 20.4%.
- Total AUM
- ₹5,12,233 Cr
- As on 30-09-2026
- Funds
- 33
- From 33 fund houses
- Expense ratio
- 0.55% to 2.36%
- Direct plans, lowest to highest
- Average 3Y return
- 14.7%
- A year, Direct plans
All Mid Cap Funds
Ranked by 3 year return, highest first
Ranked by 3 year return, highest first
| Exit load | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Mid cap Fund | 1 | 15,749 | −0.48% | +21.77% | +17.38% | +18.35% | Very High | 0.77% | 1% within 1 year | 17.13% |
| HSBC Midcap Fund | 2 | 16,800 | +9.56% | +21.64% | -- | -- | Very High | 1.11% | 1% within 1 year | 18.73% |
| WhiteOak Capital Mid Cap Fund | 3 | 7,540 | +3.63% | +20.42% | -- | -- | Very High | 0.93% | None | 15.85% |
| ICICI Prudential Mid Cap Fund | 4 | 7,961 | +0.90% | +19.38% | +14.82% | +15.56% | Very High | 1.10% | 1% within 1 year | 17.86% |
| Edelweiss Mid Cap Fund | 5 | 19,230 | −1.99% | +18.99% | +16.32% | -- | Very High | 0.68% | 1% within 90 days | 16.54% |
| ITI Mid Cap Fund | 6 | 1,453 | −1.25% | +17.72% | +14.03% | -- | Very High | 0.91% | 0.5% within 3 months | 17.91% |
| JM Mid Cap Fund | 7 | 1,303 | −0.08% | +17.31% | -- | -- | Very High | 0.96% | 1% within 180 days | 17.89% |
| Sundaram Mid Cap Fund | 8 | 13,854 | −4.58% | +16.41% | +15.07% | +13.18% | Very High | 1.06% | 1% within 365 days | 15.80% |
| Axis Midcap Fund | 9 | 33,528 | +1.29% | +16.07% | +11.88% | +16.96% | Very High | 0.80% | 1% within 3 months | 14.86% |
| HDFC Mid Cap Fund | 10 | 1,01,856 | −2.96% | +15.64% | +17.09% | +16.31% | Very High | 0.74% | 1% within 1 year | 14.78% |
| Union Midcap Fund | 11 | 1,906 | +0.66% | +15.60% | +13.79% | -- | Very High | 1.08% | 1% within 15 days | 16.83% |
| Canara Robeco Mid Cap Fund | 12 | 4,993 | −2.43% | +15.43% | -- | -- | Very High | 0.91% | 1% within 365 days | 16.28% |
| Baroda BNP Paribas Mid Cap Fund | 13 | 2,503 | +0.79% | +15.34% | -- | -- | -- | 0.78% | -- | 15.21% |
| Mahindra Manulife Mid Cap Fund | 14 | 5,058 | −2.19% | +15.25% | +14.94% | -- | Very High | 0.76% | 1% within 3 months | 16.81% |
| Kotak Mid Cap Fund | 15 | 66,613 | −4.47% | +14.97% | +14.46% | +16.42% | Very High | 0.55% | 1% within 365 days | 16.04% |
| Mirae Asset Midcap Fund | 16 | 19,539 | −2.73% | +14.31% | +13.25% | -- | Very High | 0.96% | 1% within 1 year | 15.99% |
| LIC MF Mid Cap Fund | 17 | 369 | −3.88% | +13.70% | -- | -- | Very High | 1.99% | 1% within 12 months | 16.76% |
| Tata Mid Cap Fund | 18 | 5,860 | −2.67% | +13.47% | +13.17% | +15.45% | Very High | 0.85% | 0.5% within 30 days | 15.51% |
| Franklin India Mid Cap Fund | 19 | 12,156 | −8.42% | +13.45% | +11.51% | +13.22% | -- | 1.14% | 1% within 1 year | 15.52% |
| Aditya Birla Sun Life MIDCAP Fund | 20 | 6,550 | −2.55% | +13.31% | +11.65% | +12.49% | Very High | 1.23% | 1% within 90 days | 15.64% |
| DSP Midcap Fund | 21 | 19,488 | −4.38% | +12.62% | +9.98% | +12.99% | Very High | 0.85% | 1% within 12 months | 15.64% |
| PGIM India Midcap Fund | 22 | 10,537 | −4.98% | +10.86% | +9.04% | +15.44% | Very High | 0.72% | 0.5% within 90 days | 15.16% |
| UTI - Mid Cap Fund | 23 | 11,920 | −4.54% | +10.64% | +10.33% | +13.05% | Very High | 1.27% | 1% within 1 year | 15.24% |
| Quant Mid Cap Fund | 24 | 7,654 | −2.23% | +10.22% | +14.29% | +17.61% | Very High | 1.16% | 0.5% within 3 months | 16.90% |
| Taurus Mid Cap Fund | 25 | 138 | −0.74% | +9.49% | +10.83% | +13.74% | Very High | 2.36% | 1% within 365 days | 17.97% |
| Motilal Oswal Midcap Fund | 26 | 40,208 | −14.14% | +9.27% | +10.67% | +7.45% | Very High | 0.92% | 1% within 365 days | 18.64% |
| SBI Midcap Fund | 27 | 23,282 | −5.01% | +8.94% | +11.17% | +12.82% | Very High | 1.03% | Varies | 13.45% |
| Nippon India Growth Mid Cap Fund | 28 | 50,176 | −8.89% | +8.47% | +9.29% | +8.19% | Very High | 0.80% | 1% within 1 month | 17.85% |
| Helios Mid Cap Fund | -- | 2,348 | +0.92% | -- | -- | -- | Very High | 0.94% | 1% within 3 months | -- |
| Bank of India Mid Cap Fund | -- | 729 | −1.97% | -- | -- | -- | Very High | 1.38% | 1% within 3 months | -- |
| TRUSTMF Mid Cap Fund | -- | 687 | -- | -- | -- | -- | -- | 1.91% | -- | -- |
| The Wealth Company Mid Cap Fund | -- | 172 | -- | -- | -- | -- | Very High | 2.26% | 1% within 180 days | -- |
| Samco Mid Cap Fund | -- | 75 | -- | -- | -- | -- | Very High | 1.66% | 1% within 30 days | -- |
Returns of each fund's Direct plan (its only plan where it has one), as on the latest NAV. 3, 5 and 10 year figures are a rate a year. Std dev: how much the daily returns swung over 3 years, as a yearly figure; lower is steadier. Riskometer and exit load from the fund's scheme summary document; "Varies" means the load changes with how long you hold, and the fund page has the full wording. Expense ratio: Direct plan, from AMFI. AUM at the end of the fund's last reported month. A fund younger than 3 years has no rank and is listed after the ranked ones.
Stocks Mid Cap Funds Bought and Sold in September 2026
What the 5 largest Mid Cap funds changed in their September 2026 portfolios, against the month before
Bought
| Stock | New in | Added by |
|---|---|---|
| Multi Commodity Exchange of India LimitedNippon India Growth Mid Cap, Motilal Oswal Midcap, Axis Midcap | -- | 3 funds |
| Dixon Technologies India LtdKotak Mid Cap, Motilal Oswal Midcap, Axis Midcap | -- | 3 funds |
| Max Healthcare Institute Ltd.Kotak Mid Cap, Nippon India Growth Mid Cap, Motilal Oswal Midcap | -- | 3 funds |
| ADITYA INFOTECH LIMITEDKotak Mid Cap, Axis Midcap | 2 funds | -- |
| Gland Pharma LimitedKotak Mid Cap, Axis Midcap | 1 fund | 1 fund |
| Fortis Healthcare LimitedKotak Mid Cap, Nippon India Growth Mid Cap | -- | 2 funds |
| GE Vernova T&D India LimitedNippon India Growth Mid Cap, Axis Midcap | -- | 2 funds |
| Marico Ltd.HDFC Mid Cap, Axis Midcap | -- | 2 funds |
| ICICI Lombard General Insurance CoHDFC Mid Cap, Nippon India Growth Mid Cap | -- | 2 funds |
| PB Fintech LimitedHDFC Mid Cap, Axis Midcap | -- | 2 funds |
Sold
| Stock | Exited by | Reduced by |
|---|---|---|
| Shriram Finance LimitedMotilal Oswal Midcap, Axis Midcap | 1 fund | 1 fund |
| Prestige Estates Projects LimitedMotilal Oswal Midcap, Axis Midcap | 1 fund | 1 fund |
| BSE LTDKotak Mid Cap, Motilal Oswal Midcap | 1 fund | 1 fund |
| One 97 Communications LimitedMotilal Oswal Midcap, Axis Midcap | -- | 2 funds |
| Fortis Healthcare LimitedHDFC Mid Cap, Axis Midcap | -- | 2 funds |
| JK Cement Ltd.Kotak Mid Cap, Axis Midcap | -- | 2 funds |
| Hindustan Petroleum Corporation LimitedNippon India Growth Mid Cap, Axis Midcap | -- | 2 funds |
| Power Finance Corporation Ltd.Kotak Mid Cap | 1 fund | -- |
| KEI Industries LimitedAxis Midcap | 1 fund | -- |
| Bharat Electronics LimitedAxis Midcap | 1 fund | -- |
From each fund's own monthly portfolio, stocks only. "New in" means the fund did not hold the stock the month before; "Exited by" means it sold all of it. Added and reduced count shares held, so a price move alone is not a change. Funds counted: HDFC Mid Cap Fund, Kotak Mid Cap Fund, Nippon India Growth Mid Cap Fund, Motilal Oswal Midcap Fund, Axis Midcap Fund.
Compare Mid Cap Funds
The largest funds of the category, side by side
How Mid Cap Funds Are Taxed
As equity funds: 65% or more of each fund is in Indian stocks
| When you sell | Tax on the gain |
|---|---|
| Within 1 year | 20% of the gain (short term) |
| After 1 year | 12.5% of gains above ₹1.25 lakh a financial year (long term) |
- IDCW (dividend) payouts are added to your income and taxed at your slab rate.
- A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
What Is a Mid Cap Fund?
At least 65% of the fund in mid cap stocks: companies ranked 101 to 250 by market value. This is the rule SEBI sets for every fund in the category, so their portfolios can be compared.
Other equity categories: Large Cap · Large & Mid Cap · Small Cap · Multi Cap · Flexi Cap · Focused · Value and Contra · Dividend Yield · ELSS
Mid Cap Funds: Frequently Asked Questions
Which are the top Mid Cap mutual funds?
By 3 year return, the top Mid Cap funds are 1. Invesco India Mid cap Fund (21.8% a year), 2. HSBC Midcap Fund (21.6% a year), 3. WhiteOak Capital Mid Cap Fund (20.4% a year), 4. ICICI Prudential Mid Cap Fund (19.4% a year), 5. Edelweiss Mid Cap Fund (19.0% a year). Past returns do not promise future returns, so also look at costs, risk and how long each fund has done well.
How many Mid Cap funds are there?
33 Mid Cap funds are open for investment, from 33 fund houses.
What is a Mid Cap fund?
At least 65% of the fund in mid cap stocks: companies ranked 101 to 250 by market value.
What is the average return of Mid Cap funds?
1 year: -2.3%, 3 years: 14.7% a year, 5 years: 13.0% a year. The simple average of every Mid Cap fund's Direct plan.
Which Mid Cap fund has the lowest expense ratio?
Kotak Mid Cap Fund, at 0.55% a year (Direct plan), as reported to AMFI.
Which is the largest Mid Cap fund?
HDFC Mid Cap Fund, with ₹1,01,856 Cr of investors' money on 30-09-2026.
How are Mid Cap funds taxed?
As equity funds: gains on units sold within 1 year are taxed at 20%; after that, gains above ₹1.25 lakh a financial year are taxed at 12.5%.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.