Axis Midcap Fund vs Baroda BNP Paribas Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Midcap Fund and Baroda BNP Paribas Mid Cap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, Axis Midcap Fund (Direct) returned 16.1% a year and Baroda BNP Paribas Mid Cap Fund (Direct) returned 15.3% a year. Axis Midcap Fund charges 0.80% a year and Baroda BNP Paribas Mid Cap Fund 0.78% (Direct plans). Their portfolios overlap 39.8%: they hold 41 of the same securities.
Baroda BNP Paribas Mid Cap Fund
Mid Cap
- 3 year return
- 15.3%
- Expense ratio
- 0.78%
- NAV
- ₹124.91
Which is better, Axis Midcap or Baroda BNP Paribas Mid Cap? 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 3 years: 16.1% a year against 15.3%.
- Axis Midcap returned more over 1 year: 1.3% against 0.8%.
- Baroda BNP Paribas Mid Cap costs less: 0.78% a year against 0.80% (Direct plans).
- Axis Midcap swung less over 3 years: a standard deviation of 14.9% a year against 15.2%.
- Baroda BNP Paribas Mid Cap fell less in its worst fall since 14-03-2022: −18.6% against −19.5%.
- Axis Midcap is the larger fund: ₹33,528 Cr against ₹2,503 Cr.
- Their portfolios overlap 39.8%: 41 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 | Baroda BNP Paribas Mid Cap Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Baroda BNP Paribas Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹33,528 Cr (30-09-2026) | ₹2,503 Cr (30-09-2026) |
| NAV | ₹136.47 (Direct) | ₹124.91 (Direct) |
| Expense ratio (Direct) | 0.80% | 0.78% |
| Expense ratio (Regular) | 1.79% | 2.21% |
| Riskometer | Very High | Not available |
| Benchmark | BSE Midcap 150 TRI | Not available |
| Launch date | 18-02-2011 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Shreyash Devalkar, Krishnaa N, Nitin Arora | Not available |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 3 months. | Not available |
Axis Midcap vs Baroda BNP Paribas Mid Cap: 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% |
| Baroda BNP Paribas Mid Cap Fund (Direct) | −2.78% | −6.73% | −2.62% | +0.79% | +15.34% | -- | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | -- | -- |
Category average: the average of the 34 Mid Cap funds, same plan type.
Axis Midcap vs Baroda BNP Paribas Mid Cap: Year-wise Returns
| Year | Axis MidcapAxis Midcap | Baroda BNP Paribas Mid CapBaroda BNP Paribas Mid Cap |
|---|---|---|
| 2026to date | +3.33% | −0.52% |
| 2025 | +2.04% | +3.93% |
| 2024 | +31.39% | +30.45% |
| 2023 | +31.00% | +34.54% |
| 2022 | −3.86% | -- |
| 2021 | +41.78% | -- |
Axis Midcap vs Baroda BNP Paribas Mid Cap: 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, 406 of them, one for each trading day from 17-03-2025 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)
Baroda BNP Paribas Mid Cap Fund (Direct)
BSE 150 MidCap Index TRI
to
May 2025Aug 2022
to
Aug 2025Nov 2022
to
Nov 2025Mar 2023
to
Mar 2026Jun 2023
to
Jun 2026Sept 2023
to
Sept 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 | 2.2 | 54.9 | 39.4 | 3.4 | 19.6% | 19.6% | 13.1% | 26.0% | 15% |
| Baroda BNP Paribas Mid Cap | 0.0 | 0.0 | 0.0 | 2.0 | 23.0 | 69.0 | 6.0 | 21.3% | 21.4% | 14.2% | 27.3% | 41% |
| BSE 150 MidCap Index TRI | 0.0 | 0.0 | 0.0 | 6.9 | 19.7 | 59.4 | 14.0 | 21.8% | 22.1% | 12.4% | 30.3% | -- |
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 14-03-2022. Past returns do not promise future returns.
Axis Midcap vs Baroda BNP Paribas Mid Cap: 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 02-03-2022 to 30-10-2026: 56 instalments, ₹5,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis MidcapAxis Midcap Fund (Direct) | ₹5,60,000 | ₹7,57,168 | ₹1,97,168 | 12.9% |
| Baroda BNP Paribas Mid CapBaroda BNP Paribas Mid Cap Fund (Direct) | ₹5,60,000 | ₹7,54,233 | ₹1,94,233 | 12.8% |
Axis MidcapAxis Midcap Fund (Direct)
Baroda BNP Paribas Mid CapBaroda BNP Paribas Mid Cap Fund (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 Baroda BNP Paribas Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Midcap Fund (Direct) | Baroda BNP Paribas Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.29% | +0.79% |
| Standard deviation | 14.84% | 15.27% |
| Sharpe ratio | -0.27 | -0.29 |
| Sortino ratio | -0.36 | -0.39 |
| Maximum drawdown | −11.1% (23-03-2026) | −12.0% (23-10-2026) |
| Beta | 0.88 | 0.90 |
| Alpha | +5.24% | +4.15% |
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) | Baroda BNP Paribas Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.07% | +15.34% |
| Standard deviation | 14.86% | 15.21% |
| Sharpe ratio | 0.68 | 0.61 |
| Sortino ratio | 0.93 | 0.82 |
| Maximum drawdown | −19.5% (28-02-2025) | −18.6% (28-02-2025) |
| Beta | 0.83 | 0.86 |
| Alpha | +3.78% | +2.60% |
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) | Baroda BNP Paribas Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.05% | +15.77% |
| Standard deviation | 14.76% | 14.33% |
| Sharpe ratio | 0.81 | 0.68 |
| Sortino ratio | 1.10 | 0.92 |
| Maximum drawdown | −29.4% (23-03-2020) | −18.6% (28-02-2025) |
| Beta | 0.84 | 0.86 |
| Alpha | +2.97% | +0.61% |
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)
Baroda BNP Paribas Mid Cap Fund (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) | −19.5% | 24-09-2024 | 28-02-2025 | 06-05-2026 | 14 months | −6.5% |
| Baroda BNP Paribas Mid Cap Fund (Direct) | −18.6% | 01-10-2024 | 28-02-2025 | 17-11-2025 | 9 months | −9.3% |
| BSE 150 MidCap Index TRI | −21.8% | 24-09-2024 | 28-02-2025 | 10-07-2026 | 16 months | −10.6% |
From daily values since 14-03-2022, 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)
Baroda BNP Paribas Mid Cap Fund (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)
Baroda BNP Paribas Mid Cap Fund (Direct)
BSE 150 MidCap Index TRI
Against BSE 150 MidCap Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Midcap Fund (Direct) | 87% | 83% | 5.80% |
| Baroda BNP Paribas Mid Cap Fund (Direct) | 90% | 82% | 4.02% |
From month-end values since 14-03-2022. 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 Baroda BNP Paribas Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Midcap Fund, September 2026; Baroda BNP Paribas Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 39.8%
- Held by both
- 41
- Only in Axis Midcap
- 44
- Only in Baroda BNP Paribas Mid Cap
- 36
| Security | % of Axis Midcap | % of Baroda BNP Paribas Mid Cap |
|---|---|---|
| IPCA Laboratories Limited | 2.30% | 2.23% |
| GE Vernova T&D India Limited | 2.41% | 2.10% |
| Bharat Heavy Electricals Limited | 1.94% | 3.32% |
| The Phoenix Mills Limited | 2.29% | 1.93% |
| Multi Commodity Exchange of India Limited | 1.62% | 1.91% |
| FSN E-Commerce Ventures Limited | 1.68% | 1.53% |
| Bharat Forge Limited | 1.88% | 1.46% |
| PB Fintech Limited | 1.44% | 1.59% |
| Fortis Healthcare Limited | 2.61% | 1.40% |
| Schaeffler India Limited | 1.52% | 1.34% |
| AU Small Finance Bank Limited | 1.23% | 1.82% |
| Marico Limited | 1.58% | 1.22% |
| Abbott India Limited | 1.10% | 1.57% |
| Alkem Laboratories Limited | 1.37% | 1.09% |
| Cummins India Limited | 1.67% | 1.08% |
| UNO Minda Limited | 1.55% | 1.08% |
| TVS Motor Company Limited | 1.07% | 1.15% |
| ICICI Lombard General Insurance Company Limited | 1.04% | 1.19% |
| BSE Limited | 1.03% | 1.61% |
| Coforge Limited | 1.52% | 1.01% |
| One 97 Communications Limited | 1.01% | 1.92% |
| Coromandel International Limited | 0.97% | 1.30% |
| Vishal Mega Mart Limited | 1.04% | 0.93% |
| Bharti Hexacom Limited | 0.91% | 1.17% |
| Sona BLW Precision Forgings Limited | 2.69% | 0.83% |
| The Federal Bank Limited | 3.98% | 0.76% |
| Bosch Limited | 0.72% | 1.36% |
| L&T Finance Limited | 0.71% | 0.95% |
| Mphasis Limited | 0.66% | 1.05% |
| Sundaram Finance Limited | 0.65% | 1.50% |
| 3M India Limited | 0.54% | 1.18% |
| Mankind Pharma Limited | 0.48% | 1.19% |
| Aster DM Quality Care Limited | 0.47% | 1.16% |
| LG Electronics India Ltd | 0.46% | 1.38% |
| Indian Bank | 0.38% | 2.25% |
| Navin Fluorine International Limited | 0.36% | 1.55% |
| Astral Limited | 0.32% | 0.93% |
| IndusInd Bank Limited | 0.29% | 0.56% |
| Hindustan Petroleum Corporation Limited | 0.28% | 1.82% |
| Piramal Finance Limited | 0.15% | 0.73% |
| Linde India Limited | 0.02% | 1.26% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.8% means 39.8% 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% |
| The Indian Hotels Company Limited | 2.38% |
| Lenskart Solutions Limited | 2.22% |
| Eternal Limited | 2.06% |
| Solar Industries India Limited | 1.86% |
Largest holdings only in Baroda BNP Paribas Mid Cap Fund
| Security | % of fund |
|---|---|
| Acutaas Chemicals Limited | 2.14% |
| Ujjivan Small Finance Bank Limited | 1.97% |
| Persistent Systems Limited | 1.69% |
| GlaxoSmithKline Pharmaceuticals Limited | 1.69% |
| National Aluminium Company Limited | 1.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Midcap | Baroda BNP Paribas Mid Cap |
|---|---|---|
| Equity | 90.2% | 97.9% |
| Debt | 0.0% | 0.8% |
| Cash and others | 9.8% | 1.3% |
Market cap of stocks
| Market cap | Axis Midcap | Baroda BNP Paribas Mid Cap |
|---|---|---|
| Large Cap | 17.2% | 12.3% |
| Mid Cap | 65.3% | 69.4% |
| Small Cap | 5.3% | 14.2% |
| Not on AMFI's list | 2.3% | 2.1% |
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 | Baroda BNP Paribas Mid Cap |
|---|---|---|
| Banks | 7.7% | 11.7% |
| Auto Components | 10.1% | 8.2% |
| Pharmaceuticals & Biotechnology | 7.2% | 9.9% |
| Electrical Equipment | 9.7% | 6.9% |
| Retailing | 9.5% | 2.5% |
| Capital Markets | 3.3% | 6.1% |
| Finance | 3.9% | 5.0% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Midcap vs Baroda BNP Paribas Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Midcap Fund | Baroda BNP Paribas Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 0.78% |
| Base expense ratio (Direct) | 0.50% | 0.49% |
| Total expense ratio (Regular) | 1.79% | 2.21% |
| Base expense ratio (Regular) | 1.33% | 1.70% |
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
Axis Midcap Fund vs Baroda BNP Paribas Mid Cap Fund: Frequently Asked Questions
What is the difference between Axis Midcap Fund and Baroda BNP Paribas Mid Cap Fund?
Both are Mid Cap funds, run by Axis Mutual Fund and Baroda BNP Paribas Mutual Fund. Their portfolios overlap 39.8%. Axis Midcap Fund charges 0.80% a year and Baroda BNP Paribas Mid Cap Fund 0.78%.
Which has given higher returns, Axis Midcap Fund or Baroda BNP Paribas Mid Cap Fund?
Over 1 year: Axis Midcap Fund +1.29%, Baroda BNP Paribas Mid Cap Fund +0.79%. Over 3 years: Axis Midcap Fund +16.07% a year, Baroda BNP Paribas Mid Cap Fund +15.34% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Midcap Fund or Baroda BNP Paribas Mid Cap Fund?
Baroda BNP Paribas Mid Cap Fund charges less: 0.78% a year against 0.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Midcap Fund and Baroda BNP Paribas Mid Cap Fund overlap?
39.8%. They hold 41 of the same securities, the largest shared ones being IPCALAB, GVT&D, BHEL. From each fund's latest monthly portfolio.
Which is better for SIP, Axis Midcap Fund or Baroda BNP Paribas Mid Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,18,400 in Axis Midcap Fund (XIRR 7.9% a year) and ₹4,06,950 in Baroda BNP Paribas Mid Cap Fund (XIRR 6.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Midcap Fund and Baroda BNP Paribas Mid Cap Fund?
Yes. 39.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.