Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bank Of India Mid Cap Tax Fund Series 1 is an ELSS fund and HSBC Midcap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, Bank Of India Mid Cap Tax Fund Series 1 (Direct) returned 14.3% a year and HSBC Midcap Fund (Direct) returned 21.6% a year. Bank Of India Mid Cap Tax Fund Series 1 charges 1.06% a year and HSBC Midcap Fund 1.11% (Direct plans). Their portfolios overlap 27.1%: they hold 16 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, Bank Of India Mid Cap Tax Fund Series 1 or HSBC Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Midcap returned more over 3 years: 21.6% a year against 14.3%.
- HSBC Midcap returned more over 1 year: 9.6% against 2.7%.
- Bank Of India Mid Cap Tax Fund Series 1 costs less: 1.06% a year against 1.11% (Direct plans).
- Bank Of India Mid Cap Tax Fund Series 1 swung less over 3 years: a standard deviation of 17.5% a year against 18.7%.
- Bank Of India Mid Cap Tax Fund Series 1 fell less in its worst fall since 28-11-2022: −25.0% against −26.0%.
- HSBC Midcap is the larger fund: ₹16,800 Cr against ₹65 Cr.
- Their portfolios overlap 27.1%: 16 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 Mid Cap Tax Fund Series 1 | HSBC Midcap Fund |
|---|---|---|
| Fund house | Bank of India Mutual Fund | HSBC Mutual Fund |
| Category | ELSS | Mid Cap |
| AUM | ₹65 Cr (30-09-2026) | ₹16,800 Cr (30-09-2026) |
| NAV | ₹29.53 (Direct) | ₹502.29 (Direct) |
| Expense ratio (Direct) | 1.06% | 1.11% |
| Expense ratio (Regular) | 1.38% | 2.18% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty Midcap 150 TRI |
| Launch date | 19-02-2018 | 09-08-2004 |
| Minimum investment | Not applicable because the scheme is closed-ended | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Nilesh Jethani | Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | NIL | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. |
Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap: 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 Mid Cap Tax Fund Series 1 (Direct) | −3.81% | −1.83% | +1.37% | +2.68% | +14.29% | +10.85% | -- |
| HSBC Midcap Fund (Direct) | −2.89% | −2.26% | +3.65% | +9.56% | +21.64% | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | -- | -- |
Category average: the average of the 50 ELSS funds and the 34 Mid Cap funds, same plan type.
Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap: Year-wise Returns
| Year | Bank Of India Mid Cap Tax Fund Series 1Bank Of India Mid Cap Tax Fund Series 1 | HSBC MidcapHSBC Midcap |
|---|---|---|
| 2026to date | +4.98% | +9.89% |
| 2025 | +0.79% | −0.31% |
| 2024 | +19.94% | +41.24% |
| 2023 | +33.35% | +41.53% |
| 2022 | −6.03% | -- |
| 2021 | +51.59% | -- |
Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Bank Of India Mid Cap Tax Fund Series 1
Rolling returns
Every 3-year holding period, 226 of them, one for each trading day from 28-11-2025 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.
Bank Of India Mid Cap Tax Fund Series 1 (Direct)
HSBC Midcap Fund (Direct)
BSE 500 TRI
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 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 Mid Cap Tax Fund Series 1 | 0.0 | 0.0 | 0.0 | 14.2 | 85.8 | 0.0 | 0.0 | 16.6% | 16.6% | 13.0% | 20.0% | 100% |
| HSBC Midcap | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 34.1 | 65.9 | 25.7% | 26.0% | 20.2% | 29.3% | 100% |
| BSE 500 TRI | 0.0 | 0.0 | 10.6 | 52.2 | 37.2 | 0.0 | 0.0 | 13.7% | 13.8% | 8.4% | 17.8% | -- |
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 28-11-2022. Past returns do not promise future returns.
Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap: 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 01-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bank Of India Mid Cap Tax Fund Series 1Bank Of India Mid Cap Tax Fund Series 1 (Direct) | ₹4,80,000 | ₹5,92,039 | ₹1,12,039 | 10.5% |
| HSBC MidcapHSBC Midcap Fund (Direct) | ₹4,80,000 | ₹6,84,074 | ₹2,04,074 | 18.0% |
Bank Of India Mid Cap Tax Fund Series 1Bank Of India Mid Cap Tax Fund Series 1 (Direct)
HSBC MidcapHSBC Midcap 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.
Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bank Of India Mid Cap Tax Fund Series 1 (Direct) | HSBC Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.68% | +9.56% |
| Standard deviation | 17.15% | 17.41% |
| Sharpe ratio | -0.15 | 0.25 |
| Sortino ratio | -0.20 | 0.34 |
| Maximum drawdown | −14.8% (23-03-2026) | −13.1% (23-10-2026) |
| Beta | 1.08 | 0.97 |
| Alpha | +11.41% | +13.62% |
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 Mid Cap Tax Fund Series 1 (Direct) | HSBC Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.29% | +21.64% |
| Standard deviation | 17.46% | 18.73% |
| Sharpe ratio | 0.47 | 0.83 |
| Sortino ratio | 0.64 | 1.12 |
| Maximum drawdown | −25.0% (07-04-2025) | −26.0% (28-02-2025) |
| Beta | 1.12 | 1.04 |
| Alpha | +3.93% | +7.52% |
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 Mid Cap Tax Fund Series 1 (Direct) | HSBC Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.30% | +21.80% |
| Standard deviation | 17.09% | 17.02% |
| Sharpe ratio | 0.47 | 0.92 |
| Sortino ratio | 0.62 | 1.23 |
| Maximum drawdown | −35.9% (23-03-2020) | −26.0% (28-02-2025) |
| Beta | 0.90 | 1.01 |
| Alpha | +2.37% | +5.71% |
From daily NAVs, 26-02-2018 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 Mid Cap Tax Fund Series 1 (Direct)
HSBC Midcap Fund (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 Mid Cap Tax Fund Series 1 (Direct) | −25.0% | 23-09-2024 | 07-04-2025 | 07-05-2026 | 13 months | −7.4% |
| HSBC Midcap Fund (Direct) | −26.0% | 17-12-2024 | 28-02-2025 | 20-04-2026 | 14 months | −9.5% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 28-11-2022, 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.
Bank Of India Mid Cap Tax Fund Series 1 (Direct)
HSBC Midcap Fund (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 Mid Cap Tax Fund Series 1 (Direct)
HSBC Midcap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bank Of India Mid Cap Tax Fund Series 1 (Direct) | 119% | 100% | 7.79% |
| HSBC Midcap Fund (Direct) | 130% | 71% | 9.63% |
From month-end values since 28-11-2022. 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.
Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Bank Of India Mid Cap Tax Fund Series 1, September 2026; HSBC Midcap Fund, September 2026
Holdings in common
- Overlap
- 27.1%
- Held by both
- 16
- Only in Bank Of India Mid Cap Tax Fund Series 1
- 38
- Only in HSBC Midcap
- 49
| Security | % of Bank Of India Mid Cap Tax Fund Series 1 | % of HSBC Midcap |
|---|---|---|
| FSN E-Commerce Ventures Limited | 2.96% | 3.38% |
| Radico Khaitan Limited | 2.93% | 2.89% |
| Meesho Ltd | 2.76% | 5.04% |
| Bharat Forge Limited | 2.39% | 2.61% |
| Coforge Limited | 2.62% | 2.28% |
| Hitachi Energy India Limited | 2.39% | 2.28% |
| The Federal Bank Limited | 2.10% | 3.90% |
| Nippon Life India Asset Management Limited | 2.35% | 2.01% |
| Navin Fluorine International Limited | 1.64% | 2.01% |
| Multi Commodity Exchange of India Limited | 1.92% | 1.62% |
| GE Vernova T&D India Limited | 1.61% | 3.09% |
| Godfrey Phillips India Limited | 1.02% | 1.25% |
| CG Power and Industrial Solutions Limited | 1.77% | 0.93% |
| PB Fintech Limited | 0.56% | 1.45% |
| Max Financial Services Limited | 0.71% | 0.03% |
| Dixon Technologies (India) Limited | 1.94% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 27.1% means 27.1% 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 Mid Cap Tax Fund Series 1
| Security | % of fund |
|---|---|
| UNO Minda Limited | 4.42% |
| Bank of Maharashtra | 4.22% |
| Aurobindo Pharma Limited | 3.47% |
| Sterlite Technologies Limited | 3.25% |
| Quality Power Electrical Eqp Ltd | 3.14% |
Largest holdings only in HSBC Midcap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Limited | 5.08% |
| Aditya Infotech Limited | 3.64% |
| Piramal Finance Ltd | 3.56% |
| APAR INDUSTRIES LTD | 3.16% |
| Ather Energy Limited | 3.03% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bank Of India Mid Cap Tax Fund Series 1 | HSBC Midcap |
|---|---|---|
| Equity | 98.2% | 99.2% |
| Debt | 0.1% | 0.0% |
| Cash and others | 1.7% | 0.8% |
Market cap of stocks
| Market cap | Bank Of India Mid Cap Tax Fund Series 1 | HSBC Midcap |
|---|---|---|
| Large Cap | 11.8% | 4.7% |
| Mid Cap | 65.2% | 65.3% |
| Small Cap | 20.2% | 25.0% |
| Not on AMFI's list | 1.0% | 4.2% |
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 Mid Cap Tax Fund Series 1 | HSBC Midcap |
|---|---|---|
| Auto Components | 16.6% | 5.5% |
| Electrical Equipment | 10.2% | 15.4% |
| Retailing | 5.7% | 13.5% |
| Banks | 11.1% | 11.0% |
| Pharmaceuticals & Biotechnology | 5.7% | 7.9% |
| Finance | 2.4% | 7.3% |
| Capital Markets | 5.6% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bank Of India Mid Cap Tax Fund Series 1 | HSBC Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.06% | 1.11% |
| Base expense ratio (Direct) | 0.73% | 0.54% |
| Total expense ratio (Regular) | 1.38% | 2.18% |
| Base expense ratio (Regular) | 1.00% | 1.44% |
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
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Bank Of India Mid Cap Tax Fund Series 1 vs HSBC Midcap Fund: Frequently Asked Questions
What is the difference between Bank Of India Mid Cap Tax Fund Series 1 and HSBC Midcap Fund?
Bank Of India Mid Cap Tax Fund Series 1 is an ELSS fund, HSBC Midcap Fund is a Mid Cap fund, run by Bank of India Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 27.1%. Bank Of India Mid Cap Tax Fund Series 1 charges 1.06% a year and HSBC Midcap Fund 1.11%.
Which has given higher returns, Bank Of India Mid Cap Tax Fund Series 1 or HSBC Midcap Fund?
Over 1 year: Bank Of India Mid Cap Tax Fund Series 1 +2.68%, HSBC Midcap Fund +9.56%. Over 3 years: Bank Of India Mid Cap Tax Fund Series 1 +14.29% a year, HSBC Midcap Fund +21.64% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bank Of India Mid Cap Tax Fund Series 1 or HSBC Midcap Fund?
Bank Of India Mid Cap Tax Fund Series 1 charges less: 1.06% a year against 1.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bank Of India Mid Cap Tax Fund Series 1 and HSBC Midcap Fund overlap?
27.1%. They hold 16 of the same securities, the largest shared ones being NYKAA, RADICO, MEESHO. From each fund's latest monthly portfolio.
Which is riskier, Bank Of India Mid Cap Tax Fund Series 1 or HSBC Midcap Fund?
On SEBI's riskometer, Bank Of India Mid Cap Tax Fund Series 1 is rated Very High and HSBC Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.46% and 18.73% a year.
Which is better for SIP, Bank Of India Mid Cap Tax Fund Series 1 or HSBC Midcap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,10,547 in Bank Of India Mid Cap Tax Fund Series 1 (XIRR 6.7% a year) and ₹4,52,824 in HSBC Midcap Fund (XIRR 13.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Bank Of India Mid Cap Tax Fund Series 1 and HSBC Midcap Fund?
Yes. 27.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bank Of India Mid Cap Tax Fund Series 1 and HSBC Midcap Fund?
Bank Of India Mid Cap Tax Fund Series 1: Nilesh Jethani. HSBC Midcap Fund: Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh.
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.