Axis Midcap Fund vs Bank Of India Mid Cap Tax Fund Series 1
Direct Plan, Growth option · Data as on 30-10-2026
Axis Midcap Fund is a Mid Cap fund and Bank Of India Mid Cap Tax Fund Series 1 is an ELSS fund. In the 3 years to 30-10-2026, Axis Midcap Fund (Direct) returned 16.1% a year and Bank Of India Mid Cap Tax Fund Series 1 (Direct) returned 14.3% a year. Axis Midcap Fund charges 0.80% a year and Bank Of India Mid Cap Tax Fund Series 1 1.06% (Direct plans). Their portfolios overlap 28.0%: they hold 21 of the same securities.
Bank Of India Mid Cap Tax Fund Series 1
ELSS
- 3 year return
- 14.3%
- Expense ratio
- 1.06%
- NAV
- ₹29.53
Which is better, Axis Midcap or Bank Of India Mid Cap Tax Fund Series 1? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Midcap returned more over 5 years: 11.9% a year against 10.8%.
- Axis Midcap returned more over 3 years: 16.1% a year against 14.3%.
- Axis Midcap costs less: 0.80% a year against 1.06% (Direct plans).
- Axis Midcap swung less over 3 years: a standard deviation of 14.9% a year against 17.5%.
- Axis Midcap fell less in its worst fall since 26-02-2018: −29.4% against −35.9%.
- Axis Midcap is the larger fund: ₹33,528 Cr against ₹65 Cr.
- Their portfolios overlap 28.0%: 21 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis Midcap Fund | Bank Of India Mid Cap Tax Fund Series 1 |
|---|---|---|
| Fund house | Axis Mutual Fund | Bank of India Mutual Fund |
| Category | Mid Cap | ELSS |
| AUM | ₹33,528 Cr (30-09-2026) | ₹65 Cr (30-09-2026) |
| NAV | ₹136.47 (Direct) | ₹29.53 (Direct) |
| Expense ratio (Direct) | 0.80% | 1.06% |
| Expense ratio (Regular) | 1.79% | 1.38% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Midcap 150 TRI | BSE 500 TRI |
| Launch date | 18-02-2011 | 19-02-2018 |
| Minimum investment | ₹100 | Not applicable because the scheme is closed-ended |
| Lock in | None | 3 years |
| Fund managers | Shreyash Devalkar, Krishnaa N, Nitin Arora | Nilesh Jethani |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 3 months. | NIL |
Axis Midcap vs Bank Of India Mid Cap Tax Fund Series 1: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis Midcap Fund (Direct) | −0.88% | −3.34% | +1.83% | +1.29% | +16.07% | +11.88% | +16.96% |
| Bank Of India Mid Cap Tax Fund Series 1 (Direct) | −3.81% | −1.83% | +1.37% | +2.68% | +14.29% | +10.85% | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | +12.95% | +14.07% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
Category average: the average of the 34 Mid Cap funds and the 50 ELSS funds, same plan type.
Axis Midcap vs Bank Of India Mid Cap Tax Fund Series 1: Year-wise Returns
| Year | Axis MidcapAxis Midcap | Bank Of India Mid Cap Tax Fund Series 1Bank Of India Mid Cap Tax Fund Series 1 |
|---|---|---|
| 2026to date | +3.33% | +4.98% |
| 2025 | +2.04% | +0.79% |
| 2024 | +31.39% | +19.94% |
| 2023 | +31.00% | +33.35% |
| 2022 | −3.86% | −6.03% |
| 2021 | +41.78% | +51.59% |
Axis Midcap vs Bank Of India Mid Cap Tax Fund Series 1: Rolling Returns
Every holding period of both funds, against BSE 150 MidCap Index TRI, the benchmark of Axis Midcap Fund
Rolling returns
Every 3-year holding period, 1,404 of them, one for each trading day from 26-02-2021 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis Midcap Fund (Direct)
Bank Of India Mid Cap Tax Fund Series 1 (Direct)
BSE 150 MidCap Index TRI
to
Aug 2021Jul 2019
to
Jul 2022Jul 2020
to
Jul 2023Jul 2021
to
Jul 2024Jun 2022
to
Jun 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Midcap | 0.0 | 0.0 | 0.0 | 1.2 | 33.8 | 45.2 | 19.8 | 21.6% | 21.0% | 13.1% | 32.4% | 27% |
| Bank Of India Mid Cap Tax Fund Series 1 | 0.0 | 0.0 | 1.9 | 11.8 | 33.0 | 28.4 | 24.9 | 20.9% | 20.7% | 8.8% | 33.8% | 24% |
| BSE 150 MidCap Index TRI | 0.0 | 0.0 | 1.1 | 5.4 | 14.1 | 35.9 | 43.5 | 24.1% | 23.8% | 8.8% | 40.4% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is BSE 150 MidCap Index TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 26-02-2018. Past returns do not promise future returns.
Axis Midcap vs Bank Of India Mid Cap Tax Fund Series 1: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-02-2018 to 30-10-2026: 105 instalments, ₹10,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis MidcapAxis Midcap Fund (Direct) | ₹10,50,000 | ₹22,44,386 | ₹11,94,386 | 16.8% |
| Bank Of India Mid Cap Tax Fund Series 1Bank Of India Mid Cap Tax Fund Series 1 (Direct) | ₹10,50,000 | ₹21,38,189 | ₹10,88,189 | 15.7% |
Axis MidcapAxis Midcap Fund (Direct)
Bank Of India Mid Cap Tax Fund Series 1Bank Of India Mid Cap Tax Fund Series 1 (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis Midcap vs Bank Of India Mid Cap Tax Fund Series 1: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Midcap Fund (Direct) | Bank Of India Mid Cap Tax Fund Series 1 (Direct) |
|---|---|---|
| Return (CAGR) | +1.29% | +2.68% |
| Standard deviation | 14.84% | 17.15% |
| Sharpe ratio | -0.27 | -0.15 |
| Sortino ratio | -0.36 | -0.20 |
| Maximum drawdown | −11.1% (23-03-2026) | −14.8% (23-03-2026) |
| Beta | 0.88 | 1.08 |
| Alpha | +5.24% | +11.41% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Midcap Fund (Direct) | Bank Of India Mid Cap Tax Fund Series 1 (Direct) |
|---|---|---|
| Return (CAGR) | +16.07% | +14.29% |
| Standard deviation | 14.86% | 17.46% |
| Sharpe ratio | 0.68 | 0.47 |
| Sortino ratio | 0.93 | 0.64 |
| Maximum drawdown | −19.5% (28-02-2025) | −25.0% (07-04-2025) |
| Beta | 0.83 | 1.12 |
| Alpha | +3.78% | +3.93% |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Midcap Fund (Direct) | Bank Of India Mid Cap Tax Fund Series 1 (Direct) |
|---|---|---|
| Return (CAGR) | +11.88% | +10.85% |
| Standard deviation | 14.48% | 16.59% |
| Sharpe ratio | 0.42 | 0.30 |
| Sortino ratio | 0.56 | 0.41 |
| Maximum drawdown | −20.0% (20-06-2022) | −25.0% (07-04-2025) |
| Beta | 0.83 | 1.05 |
| Alpha | −0.04% | +2.05% |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Midcap Fund (Direct) | Bank Of India Mid Cap Tax Fund Series 1 (Direct) |
|---|---|---|
| Return (CAGR) | +18.05% | +13.30% |
| Standard deviation | 14.76% | 17.09% |
| Sharpe ratio | 0.81 | 0.47 |
| Sortino ratio | 1.10 | 0.62 |
| Maximum drawdown | −29.4% (23-03-2020) | −35.9% (23-03-2020) |
| Beta | 0.84 | 0.90 |
| Alpha | +2.97% | +2.37% |
From daily NAVs, 02-01-2013 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis Midcap Fund (Direct)
Bank Of India Mid Cap Tax Fund Series 1 (Direct)
BSE 150 MidCap Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Midcap Fund (Direct) | −29.4% | 20-02-2020 | 23-03-2020 | 26-08-2020 | 5 months | −6.5% |
| Bank Of India Mid Cap Tax Fund Series 1 (Direct) | −35.9% | 30-04-2018 | 23-03-2020 | 05-11-2020 | 7 months | −7.4% |
| BSE 150 MidCap Index TRI | −41.1% | 30-04-2018 | 23-03-2020 | 17-11-2020 | 8 months | −10.6% |
From daily values since 26-02-2018, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Midcap Fund (Direct)
Bank Of India Mid Cap Tax Fund Series 1 (Direct)
BSE 150 MidCap Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Midcap Fund (Direct)
Bank Of India Mid Cap Tax Fund Series 1 (Direct)
BSE 150 MidCap Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Midcap Fund (Direct)
Bank Of India Mid Cap Tax Fund Series 1 (Direct)
BSE 150 MidCap Index TRI
Against BSE 150 MidCap Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Midcap Fund (Direct) | 87% | 70% | 7.34% |
| Bank Of India Mid Cap Tax Fund Series 1 (Direct) | 94% | 94% | 7.59% |
From month-end values since 26-02-2018. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis Midcap vs Bank Of India Mid Cap Tax Fund Series 1: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Midcap Fund, September 2026; Bank Of India Mid Cap Tax Fund Series 1, September 2026
Holdings in common
- Overlap
- 28.0%
- Held by both
- 21
- Only in Axis Midcap
- 64
- Only in Bank Of India Mid Cap Tax Fund Series 1
- 33
| Security | % of Axis Midcap | % of Bank Of India Mid Cap Tax Fund Series 1 |
|---|---|---|
| Sona BLW Precision Forgings Limited | 2.69% | 2.44% |
| The Federal Bank Limited | 3.98% | 2.10% |
| Bharat Forge Limited | 1.88% | 2.39% |
| Radico Khaitan Limited | 1.79% | 2.93% |
| ICICI Bank Limited | 1.71% | 2.01% |
| FSN E-Commerce Ventures Limited | 1.68% | 2.96% |
| Multi Commodity Exchange of India Limited | 1.62% | 1.92% |
| GE Vernova T&D India Limited | 2.41% | 1.61% |
| Dixon Technologies (India) Limited | 1.57% | 1.94% |
| UNO Minda Limited | 1.55% | 4.42% |
| Schaeffler India Limited | 1.52% | 2.62% |
| Coforge Limited | 1.52% | 2.62% |
| Abbott India Limited | 1.10% | 2.22% |
| ICICI Lombard General Insurance Company Limited | 1.04% | 1.70% |
| K.P.R. Mill Limited | 0.95% | 1.01% |
| Solar Industries India Limited | 1.86% | 0.94% |
| CG Power and Industrial Solutions Limited | 0.87% | 1.77% |
| Meesho Ltd | 0.77% | 2.76% |
| PB Fintech Limited | 1.44% | 0.56% |
| LG Electronics India Ltd | 0.46% | 1.68% |
| Navin Fluorine International Limited | 0.36% | 1.64% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.0% means 28.0% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis Midcap Fund
| Security | % of fund |
|---|---|
| Apar Industries Limited | 2.84% |
| Fortis Healthcare Limited | 2.61% |
| The Indian Hotels Company Limited | 2.38% |
| IPCA Laboratories Limited | 2.30% |
| The Phoenix Mills Limited | 2.29% |
Largest holdings only in Bank Of India Mid Cap Tax Fund Series 1
| Security | % of fund |
|---|---|
| Bank of Maharashtra | 4.22% |
| Aurobindo Pharma Limited | 3.47% |
| Sterlite Technologies Limited | 3.25% |
| Quality Power Electrical Eqp Ltd | 3.14% |
| Lloyds Metals And Energy Limited | 2.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Midcap | Bank Of India Mid Cap Tax Fund Series 1 |
|---|---|---|
| Equity | 90.2% | 98.2% |
| Debt | 0.0% | 0.1% |
| Cash and others | 9.8% | 1.7% |
Market cap of stocks
| Market cap | Axis Midcap | Bank Of India Mid Cap Tax Fund Series 1 |
|---|---|---|
| Large Cap | 17.2% | 11.8% |
| Mid Cap | 65.3% | 65.2% |
| Small Cap | 5.3% | 20.2% |
| Not on AMFI's list | 2.3% | 1.0% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Axis Midcap | Bank Of India Mid Cap Tax Fund Series 1 |
|---|---|---|
| Auto Components | 10.1% | 16.6% |
| Banks | 7.7% | 11.1% |
| Electrical Equipment | 9.7% | 10.2% |
| Retailing | 9.5% | 5.7% |
| Pharmaceuticals & Biotechnology | 7.2% | 5.7% |
| Capital Markets | 3.3% | 5.6% |
| Finance | 3.9% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Midcap vs Bank Of India Mid Cap Tax Fund Series 1: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Midcap Fund | Bank Of India Mid Cap Tax Fund Series 1 |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 1.06% |
| Base expense ratio (Direct) | 0.50% | 0.73% |
| Total expense ratio (Regular) | 1.79% | 1.38% |
| Base expense ratio (Regular) | 1.33% | 1.00% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Axis Midcap with
Compare Bank Of India Mid Cap Tax Fund Series 1 with
- Bank Of India Mid Cap Tax Fund Series 1 vs Motilal Oswal ELSS Tax Saver
- Bank Of India Mid Cap Tax Fund Series 1 vs SBI Long Term Advantage Fund - Series V
- Bank Of India Mid Cap Tax Fund Series 1 vs JM ELSS - Tax Saver
- Bank Of India Mid Cap Tax Fund Series 1 vs WhiteOak Capital ELSS Tax Saver
- Bank Of India Mid Cap Tax Fund Series 1 vs HSBC ELSS Tax saver
Axis Midcap Fund vs Bank Of India Mid Cap Tax Fund Series 1: Frequently Asked Questions
What is the difference between Axis Midcap Fund and Bank Of India Mid Cap Tax Fund Series 1?
Axis Midcap Fund is a Mid Cap fund, Bank Of India Mid Cap Tax Fund Series 1 is an ELSS fund, run by Axis Mutual Fund and Bank of India Mutual Fund. Their portfolios overlap 28.0%. Axis Midcap Fund charges 0.80% a year and Bank Of India Mid Cap Tax Fund Series 1 1.06%.
Which has given higher returns, Axis Midcap Fund or Bank Of India Mid Cap Tax Fund Series 1?
Over 1 year: Axis Midcap Fund +1.29%, Bank Of India Mid Cap Tax Fund Series 1 +2.68%. Over 3 years: Axis Midcap Fund +16.07% a year, Bank Of India Mid Cap Tax Fund Series 1 +14.29% a year. Over 5 years: Axis Midcap Fund +11.88% a year, Bank Of India Mid Cap Tax Fund Series 1 +10.85% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Midcap Fund or Bank Of India Mid Cap Tax Fund Series 1?
Axis Midcap Fund charges less: 0.80% a year against 1.06%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Midcap Fund and Bank Of India Mid Cap Tax Fund Series 1 overlap?
28.0%. They hold 21 of the same securities, the largest shared ones being SONACOMS, FEDERALBNK, BHARATFORG. From each fund's latest monthly portfolio.
Which is riskier, Axis Midcap Fund or Bank Of India Mid Cap Tax Fund Series 1?
On SEBI's riskometer, Axis Midcap Fund is rated Very High and Bank Of India Mid Cap Tax Fund Series 1 Very High. Over 3 years, the standard deviation of daily returns was 14.86% and 17.46% a year.
Which is better for SIP, Axis Midcap Fund or Bank Of India Mid Cap Tax Fund Series 1?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,45,078 in Axis Midcap Fund (XIRR 12.8% a year) and ₹8,16,362 in Bank Of India Mid Cap Tax Fund Series 1 (XIRR 11.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Midcap Fund and Bank Of India Mid Cap Tax Fund Series 1?
Yes. 28.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Midcap Fund and Bank Of India Mid Cap Tax Fund Series 1?
Axis Midcap Fund: Shreyash Devalkar, Krishnaa N, Nitin Arora. Bank Of India Mid Cap Tax Fund Series 1: Nilesh Jethani.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
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.