Bank of India Manufacturing & Infrastructure Fund vs BANK OF INDIA MID CAP TAX FUND Series 2
Direct Plan, Growth option · Data as on 30-10-2026
Bank of India Manufacturing & Infrastructure Fund is a Thematic fund and BANK OF INDIA MID CAP TAX FUND Series 2 is an ELSS fund. In the 3 years to 30-10-2026, Bank of India Manufacturing & Infrastructure Fund (Direct) returned 21.0% a year and BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) returned 13.1% a year. Bank of India Manufacturing & Infrastructure Fund charges 0.99% a year and BANK OF INDIA MID CAP TAX FUND Series 2 1.11% (Direct plans). Their portfolios overlap 25.6%: they hold 19 of the same securities.
Bank of India Manufacturing & Infrastructure Fund
Thematic
- 3 year return
- 21.0%
- Expense ratio
- 0.99%
- NAV
- ₹75.88
BANK OF INDIA MID CAP TAX FUND Series 2
ELSS
- 3 year return
- 13.1%
- Expense ratio
- 1.11%
- NAV
- ₹34.25
Which is better, Bank of India Manufacturing & Infrastructure or BANK OF INDIA MID CAP TAX FUND Series 2? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bank of India Manufacturing & Infrastructure returned more over 5 years: 19.6% a year against 10.1%.
- Bank of India Manufacturing & Infrastructure returned more over 3 years: 21.0% a year against 13.1%.
- Bank of India Manufacturing & Infrastructure costs less: 0.99% a year against 1.11% (Direct plans).
- Bank of India Manufacturing & Infrastructure swung less over 3 years: a standard deviation of 17.1% a year against 17.4%.
- Bank of India Manufacturing & Infrastructure fell less in its worst fall since 26-10-2018: −32.2% against −34.2%.
- Bank of India Manufacturing & Infrastructure holds more in large companies: 30.5% of the fund in large caps against 8.7%.
- Bank of India Manufacturing & Infrastructure is the larger fund: ₹984 Cr against ₹32 Cr.
- Their portfolios overlap 25.6%: 19 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 | Bank of India Manufacturing & Infrastructure Fund | BANK OF INDIA MID CAP TAX FUND Series 2 |
|---|---|---|
| Fund house | Bank of India Mutual Fund | Bank of India Mutual Fund |
| Category | Thematic | ELSS |
| AUM | ₹984 Cr (30-09-2026) | ₹32 Cr (30-09-2026) |
| NAV | ₹75.88 (Direct) | ₹34.25 (Direct) |
| Expense ratio (Direct) | 0.99% | 1.11% |
| Expense ratio (Regular) | 2.53% | 1.41% |
| Riskometer | Very High | Very High |
| Benchmark | BSE India Manufacturing Total Return Index (TRI) - 50% & BSE India Infrastructure Total Return Index (TRI) - 50% | BSE 500 TRI |
| Launch date | 05-03-2010 | 19-10-2018 |
| Minimum investment | ₹5,000 | Not applicable because the scheme is closed-ended |
| Lock in | None | 3 years |
| Fund managers | Nitin Gosar, 2022) | 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 |
Bank of India Manufacturing & Infrastructure vs BANK OF INDIA MID CAP TAX FUND Series 2: 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 |
|---|---|---|---|---|---|---|---|
| Bank of India Manufacturing & Infrastructure Fund (Direct) | −3.85% | −4.00% | +2.00% | +9.04% | +21.01% | +19.64% | +18.81% |
| BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) | −3.52% | −3.17% | +1.27% | −1.89% | +13.12% | +10.08% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
Category average: the average of the 235 Thematic funds and the 50 ELSS funds, same plan type.
Bank of India Manufacturing & Infrastructure vs BANK OF INDIA MID CAP TAX FUND Series 2: Year-wise Returns
| Year | Manufacturing & InfrastructureBank of India Manufacturing & Infrastructure | MID CAP TAX FUND Series 2BANK OF INDIA MID CAP TAX FUND Series 2 |
|---|---|---|
| 2026to date | +8.25% | +0.85% |
| 2025 | +9.48% | +2.35% |
| 2024 | +27.60% | +18.84% |
| 2023 | +46.43% | +34.10% |
| 2022 | +4.74% | −5.49% |
| 2021 | +54.41% | +46.77% |
Bank of India Manufacturing & Infrastructure vs BANK OF INDIA MID CAP TAX FUND Series 2: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of BANK OF INDIA MID CAP TAX FUND Series 2
Rolling returns
Every 3-year holding period, 1,234 of them, one for each trading day from 26-10-2021 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.
Bank of India Manufacturing & Infrastructure Fund (Direct)
BANK OF INDIA MID CAP TAX FUND Series 2 (Direct)
BSE 500 TRI
to
Mar 2022Jan 2020
to
Jan 2023Dec 2020
to
Dec 2023Oct 2021
to
Oct 2024Aug 2022
to
Aug 2025Jun 2023
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bank of India Manufacturing & Infrastructure | 0.0 | 0.0 | 0.0 | 0.0 | 2.9 | 20.4 | 76.7 | 28.2% | 27.7% | 17.8% | 41.4% | 100% |
| BANK OF INDIA MID CAP TAX FUND Series 2 | 0.0 | 0.0 | 0.2 | 11.6 | 35.9 | 33.3 | 19.0 | 20.5% | 20.6% | 9.4% | 31.6% | 81% |
| BSE 500 TRI | 0.0 | 0.0 | 1.9 | 19.7 | 50.2 | 21.1 | 7.1 | 18.1% | 17.8% | 8.4% | 33.9% | -- |
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 500 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 26-10-2018. Past returns do not promise future returns.
Bank of India Manufacturing & Infrastructure vs BANK OF INDIA MID CAP TAX FUND Series 2: 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 01-10-2018 to 30-10-2026: 97 instalments, ₹9,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bank of India Manufacturing & InfrastructureBank of India Manufacturing & Infrastructure Fund (Direct) | ₹9,70,000 | ₹25,27,952 | ₹15,57,952 | 23.0% |
| BANK OF INDIA MID CAP TAX FUND Series 2BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) | ₹9,70,000 | ₹18,13,131 | ₹8,43,131 | 15.1% |
Bank of India Manufacturing & InfrastructureBank of India Manufacturing & Infrastructure Fund (Direct)
BANK OF INDIA MID CAP TAX FUND Series 2BANK OF INDIA MID CAP TAX FUND Series 2 (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.
Bank of India Manufacturing & Infrastructure vs BANK OF INDIA MID CAP TAX FUND Series 2: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bank of India Manufacturing & Infrastructure Fund (Direct) | BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) |
|---|---|---|
| Return (CAGR) | +9.04% | −1.89% |
| Standard deviation | 14.70% | 16.60% |
| Sharpe ratio | 0.26 | -0.43 |
| Sortino ratio | 0.36 | -0.57 |
| Maximum drawdown | −9.3% (23-03-2026) | −16.1% (23-03-2026) |
| Beta | -- | 1.08 |
| Alpha | -- | +6.75% |
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 | Bank of India Manufacturing & Infrastructure Fund (Direct) | BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) |
|---|---|---|
| Return (CAGR) | +21.01% | +13.12% |
| Standard deviation | 17.14% | 17.41% |
| Sharpe ratio | 0.87 | 0.41 |
| Sortino ratio | 1.18 | 0.55 |
| Maximum drawdown | −24.2% (03-03-2025) | −23.9% (03-03-2025) |
| Beta | -- | 1.13 |
| Alpha | -- | +2.74% |
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 | Bank of India Manufacturing & Infrastructure Fund (Direct) | BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) |
|---|---|---|
| Return (CAGR) | +19.64% | +10.08% |
| Standard deviation | 16.43% | 16.68% |
| Sharpe ratio | 0.84 | 0.26 |
| Sortino ratio | 1.13 | 0.34 |
| Maximum drawdown | −24.2% (03-03-2025) | −24.1% (20-06-2022) |
| Beta | -- | 1.07 |
| Alpha | -- | +1.23% |
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 | Bank of India Manufacturing & Infrastructure Fund (Direct) | BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) |
|---|---|---|
| Return (CAGR) | +17.10% | +16.70% |
| Standard deviation | 17.01% | 17.13% |
| Sharpe ratio | 0.65 | 0.67 |
| Sortino ratio | 0.88 | 0.89 |
| Maximum drawdown | −43.5% (23-03-2020) | −34.2% (23-03-2020) |
| Beta | -- | 0.91 |
| Alpha | -- | +3.64% |
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.
Bank of India Manufacturing & Infrastructure Fund (Direct)
BANK OF INDIA MID CAP TAX FUND Series 2 (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bank of India Manufacturing & Infrastructure Fund (Direct) | −32.2% | 03-06-2019 | 23-03-2020 | 13-08-2020 | 5 months | −5.8% |
| BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) | −34.2% | 20-02-2020 | 23-03-2020 | 15-09-2020 | 6 months | −7.4% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 26-10-2018, 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.
Bank of India Manufacturing & Infrastructure Fund (Direct)
BANK OF INDIA MID CAP TAX FUND Series 2 (Direct)
BSE 500 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.
Bank of India Manufacturing & Infrastructure Fund (Direct)
BANK OF INDIA MID CAP TAX FUND Series 2 (Direct)
BSE 500 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.
Bank of India Manufacturing & Infrastructure Fund (Direct)
BANK OF INDIA MID CAP TAX FUND Series 2 (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bank of India Manufacturing & Infrastructure Fund (Direct) | 117% | 82% | 8.02% |
| BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) | 105% | 89% | 7.84% |
From month-end values since 26-10-2018. 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.
Bank of India Manufacturing & Infrastructure vs BANK OF INDIA MID CAP TAX FUND Series 2: Portfolio Overlap
From each fund's latest monthly portfolio: Bank of India Manufacturing & Infrastructure Fund, September 2026; BANK OF INDIA MID CAP TAX FUND Series 2, September 2026
Holdings in common
- Overlap
- 25.6%
- Held by both
- 19
- Only in Bank of India Manufacturing & Infrastructure
- 39
- Only in BANK OF INDIA MID CAP TAX FUND Series 2
- 36
| Security | % of Bank of India Manufacturing & Infrastructure | % of BANK OF INDIA MID CAP TAX FUND Series 2 |
|---|---|---|
| Quality Power Electrical Eqp Ltd | 3.30% | 3.20% |
| Aurobindo Pharma Limited | 2.88% | 3.72% |
| Dixon Technologies (India) Limited | 2.81% | 2.14% |
| Steel Authority of India Limited | 1.96% | 2.99% |
| Dr. Reddy's Laboratories Limited | 1.80% | 1.84% |
| Abbott India Limited | 1.65% | 2.36% |
| Reliance Industries Limited | 7.11% | 1.51% |
| Endurance Technologies Limited | 1.30% | 1.14% |
| Lloyds Metals And Energy Limited | 1.09% | 1.64% |
| Gufic Biosciences Limited | 1.11% | 1.08% |
| Petronet LNG Limited | 3.19% | 1.02% |
| Mankind Pharma Limited | 1.27% | 0.98% |
| Jash Engineering Limited | 0.97% | 1.04% |
| Jindal Stainless Limited | 0.95% | 1.09% |
| United Spirits Limited | 1.02% | 0.93% |
| Bharat Dynamics Limited | 0.79% | 1.49% |
| Ganesha Ecosphere Limited | 0.90% | 0.72% |
| HEG Graphite Ltd | 0.72% | 0.77% |
| 364 Days Tbill (MD 07/01/2027) | 0.09% | 0.15% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 25.6% means 25.6% 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 Bank of India Manufacturing & Infrastructure Fund
| Security | % of fund |
|---|---|
| NTPC Limited | 4.95% |
| Larsen & Toubro Limited | 4.87% |
| ITC Limited | 3.52% |
| Bharti Airtel Limited | 3.10% |
| Vedanta Aluminium Metal Limited | 2.06% |
Largest holdings only in BANK OF INDIA MID CAP TAX FUND Series 2
| Security | % of fund |
|---|---|
| UNO Minda Limited | 4.59% |
| Bank of Maharashtra | 4.33% |
| Coforge Limited | 4.09% |
| HDFC Bank Limited | 3.25% |
| The Federal Bank Limited | 3.16% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bank of India Manufacturing & Infrastructure | BANK OF INDIA MID CAP TAX FUND Series 2 |
|---|---|---|
| Equity | 89.6% | 97.4% |
| Debt | 0.1% | 0.1% |
| Cash and others | 10.3% | 2.5% |
Market cap of stocks
| Market cap | Bank of India Manufacturing & Infrastructure | BANK OF INDIA MID CAP TAX FUND Series 2 |
|---|---|---|
| Large Cap | 30.5% | 8.7% |
| Mid Cap | 23.4% | 67.8% |
| Small Cap | 30.2% | 20.1% |
| Not on AMFI's list | 5.5% | 0.8% |
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 | Bank of India Manufacturing & Infrastructure | BANK OF INDIA MID CAP TAX FUND Series 2 |
|---|---|---|
| Pharmaceuticals & Biotechnology | 14.6% | 13.0% |
| Banks | 0.0% | 11.3% |
| Construction | 9.9% | 0.0% |
| Auto Components | 6.0% | 9.6% |
| Petroleum Products | 7.1% | 1.5% |
| Consumer Durables | 6.1% | 2.1% |
| Electrical Equipment | 4.1% | 5.1% |
| Retailing | 0.0% | 5.1% |
| Power | 5.0% | 0.0% |
| Aerospace & Defense | 0.8% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
Bank of India Manufacturing & Infrastructure vs BANK OF INDIA MID CAP TAX FUND Series 2: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bank of India Manufacturing & Infrastructure Fund | BANK OF INDIA MID CAP TAX FUND Series 2 |
|---|---|---|
| Total expense ratio (Direct) | 0.99% | 1.11% |
| Base expense ratio (Direct) | 0.61% | 0.75% |
| Total expense ratio (Regular) | 2.53% | 1.41% |
| Base expense ratio (Regular) | 1.92% | 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.
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Bank of India Manufacturing & Infrastructure Fund vs BANK OF INDIA MID CAP TAX FUND Series 2: Frequently Asked Questions
What is the difference between Bank of India Manufacturing & Infrastructure Fund and BANK OF INDIA MID CAP TAX FUND Series 2?
Bank of India Manufacturing & Infrastructure Fund is a Thematic fund, BANK OF INDIA MID CAP TAX FUND Series 2 is an ELSS fund, run by Bank of India Mutual Fund. Their portfolios overlap 25.6%. Bank of India Manufacturing & Infrastructure Fund charges 0.99% a year and BANK OF INDIA MID CAP TAX FUND Series 2 1.11%.
Which has given higher returns, Bank of India Manufacturing & Infrastructure Fund or BANK OF INDIA MID CAP TAX FUND Series 2?
Over 1 year: Bank of India Manufacturing & Infrastructure Fund +9.04%, BANK OF INDIA MID CAP TAX FUND Series 2 −1.89%. Over 3 years: Bank of India Manufacturing & Infrastructure Fund +21.01% a year, BANK OF INDIA MID CAP TAX FUND Series 2 +13.12% a year. Over 5 years: Bank of India Manufacturing & Infrastructure Fund +19.64% a year, BANK OF INDIA MID CAP TAX FUND Series 2 +10.08% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bank of India Manufacturing & Infrastructure Fund or BANK OF INDIA MID CAP TAX FUND Series 2?
Bank of India Manufacturing & Infrastructure Fund charges less: 0.99% a year against 1.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bank of India Manufacturing & Infrastructure Fund and BANK OF INDIA MID CAP TAX FUND Series 2 overlap?
25.6%. They hold 19 of the same securities, the largest shared ones being QPOWER, AUROPHARMA, DIXON. From each fund's latest monthly portfolio.
Which is riskier, Bank of India Manufacturing & Infrastructure Fund or BANK OF INDIA MID CAP TAX FUND Series 2?
On SEBI's riskometer, Bank of India Manufacturing & Infrastructure Fund is rated Very High and BANK OF INDIA MID CAP TAX FUND Series 2 Very High. Over 3 years, the standard deviation of daily returns was 17.14% and 17.41% a year.
Which is better for SIP, Bank of India Manufacturing & Infrastructure Fund or BANK OF INDIA MID CAP TAX FUND Series 2?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹9,90,804 in Bank of India Manufacturing & Infrastructure Fund (XIRR 19.2% a year) and ₹7,92,860 in BANK OF INDIA MID CAP TAX FUND Series 2 (XIRR 10.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bank of India Manufacturing & Infrastructure Fund and BANK OF INDIA MID CAP TAX FUND Series 2?
Yes. 25.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bank of India Manufacturing & Infrastructure Fund and BANK OF INDIA MID CAP TAX FUND Series 2?
Bank of India Manufacturing & Infrastructure Fund: Nitin Gosar, 2022). BANK OF INDIA MID CAP TAX FUND Series 2: 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.