BANK OF INDIA MID CAP TAX FUND Series 2 vs LIC MF Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
BANK OF INDIA MID CAP TAX FUND Series 2 is an ELSS fund and LIC MF Mid Cap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) returned 13.1% a year and LIC MF Mid Cap Fund (Direct) returned 13.7% a year. BANK OF INDIA MID CAP TAX FUND Series 2 charges 1.11% a year and LIC MF Mid Cap Fund 1.99% (Direct plans). Their portfolios overlap 23.5%: they hold 11 of the same securities.
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 MID CAP TAX FUND Series 2 or LIC MF 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.
- LIC MF Mid Cap returned more over 3 years: 13.7% a year against 13.1%.
- BANK OF INDIA MID CAP TAX FUND Series 2 returned more over 1 year: −1.9% against −3.9%.
- BANK OF INDIA MID CAP TAX FUND Series 2 costs less: 1.11% a year against 1.99% (Direct plans).
- LIC MF Mid Cap swung less over 3 years: a standard deviation of 16.8% a year against 17.4%.
- LIC MF Mid Cap fell less in its worst fall since 31-07-2023: −21.5% against −23.9%.
- LIC MF Mid Cap is the larger fund: ₹369 Cr against ₹32 Cr.
- Their portfolios overlap 23.5%: 11 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 2 | LIC MF Mid Cap Fund |
|---|---|---|
| Fund house | Bank of India Mutual Fund | LIC Mutual Fund |
| Category | ELSS | Mid Cap |
| AUM | ₹32 Cr (30-09-2026) | ₹369 Cr (30-09-2026) |
| NAV | ₹34.25 (Direct) | ₹31.92 (Direct) |
| Expense ratio (Direct) | 1.11% | 1.99% |
| Expense ratio (Regular) | 1.41% | 3.08% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty Midcap 150 TRI |
| Launch date | 19-10-2018 | 25-01-2017 |
| Minimum investment | Not applicable because the scheme is closed-ended | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Nilesh Jethani | Sudhanshu Asthana |
| Exit load | NIL | Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 12 months from the date of allotment. 1% of the applicable NAV, If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 12 months from the date of allotment. |
BANK OF INDIA MID CAP TAX FUND Series 2 vs LIC MF 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 |
|---|---|---|---|---|---|---|---|
| BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) | −3.52% | −3.17% | +1.27% | −1.89% | +13.12% | +10.08% | -- |
| LIC MF Mid Cap Fund (Direct) | −4.94% | −6.90% | −1.22% | −3.88% | +13.70% | -- | -- |
| 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 2 vs LIC MF Mid Cap: Year-wise Returns
| Year | BANK OF INDIA MID CAP TAX FUND Series 2BANK OF INDIA MID CAP TAX FUND Series 2 | LIC MF Mid CapLIC MF Mid Cap |
|---|---|---|
| 2026to date | +0.85% | −2.73% |
| 2025 | +2.35% | −0.15% |
| 2024 | +18.84% | +30.30% |
| 2023 | +34.10% | -- |
| 2022 | −5.49% | -- |
| 2021 | +46.77% | -- |
BANK OF INDIA MID CAP TAX FUND Series 2 vs LIC MF Mid Cap: 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, 61 of them, one for each trading day from 31-07-2026 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 2 (Direct)
LIC MF Mid Cap Fund (Direct)
BSE 500 TRI
to
Aug 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 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 2 | 0.0 | 0.0 | 0.0 | 60.7 | 39.3 | 0.0 | 0.0 | 14.3% | 14.0% | 11.9% | 16.0% | 100% |
| LIC MF Mid Cap | 0.0 | 0.0 | 0.0 | 27.9 | 72.1 | 0.0 | 0.0 | 16.5% | 16.5% | 12.8% | 19.3% | 100% |
| BSE 500 TRI | 0.0 | 0.0 | 39.3 | 60.7 | 0.0 | 0.0 | 0.0 | 10.7% | 10.4% | 8.4% | 12.8% | -- |
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 31-07-2023. Past returns do not promise future returns.
BANK OF INDIA MID CAP TAX FUND Series 2 vs LIC MF 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 03-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| BANK OF INDIA MID CAP TAX FUND Series 2BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) | ₹4,00,000 | ₹4,42,741 | ₹42,741 | 6.0% |
| LIC MF Mid CapLIC MF Mid Cap Fund (Direct) | ₹4,00,000 | ₹4,36,288 | ₹36,288 | 5.2% |
BANK OF INDIA MID CAP TAX FUND Series 2BANK OF INDIA MID CAP TAX FUND Series 2 (Direct)
LIC MF Mid CapLIC MF 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.
BANK OF INDIA MID CAP TAX FUND Series 2 vs LIC MF Mid Cap: 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 2 (Direct) | LIC MF Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.89% | −3.88% |
| Standard deviation | 16.60% | 16.80% |
| Sharpe ratio | -0.43 | -0.54 |
| Sortino ratio | -0.57 | -0.74 |
| Maximum drawdown | −16.1% (23-03-2026) | −15.4% (31-03-2026) |
| Beta | 1.08 | 0.98 |
| Alpha | +6.75% | +0.33% |
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 2 (Direct) | LIC MF Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.12% | +13.70% |
| Standard deviation | 17.41% | 16.76% |
| Sharpe ratio | 0.41 | 0.46 |
| Sortino ratio | 0.55 | 0.62 |
| Maximum drawdown | −23.9% (03-03-2025) | −21.5% (07-04-2025) |
| Beta | 1.13 | 0.95 |
| Alpha | +2.74% | +0.29% |
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 2 (Direct) | LIC MF Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.70% | +13.52% |
| Standard deviation | 17.13% | 16.38% |
| Sharpe ratio | 0.67 | 0.45 |
| Sortino ratio | 0.89 | 0.61 |
| Maximum drawdown | −34.2% (23-03-2020) | −21.5% (07-04-2025) |
| Beta | 0.91 | 0.94 |
| Alpha | +3.64% | +0.27% |
From daily NAVs, 26-10-2018 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 2 (Direct)
LIC MF Mid Cap 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 2 (Direct) | −23.9% | 23-09-2024 | 03-03-2025 | 31-07-2026 | 17 months | −7.4% |
| LIC MF Mid Cap Fund (Direct) | −21.5% | 24-09-2024 | 07-04-2025 | 03-08-2026 | 16 months | −11.1% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 31-07-2023, 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 2 (Direct)
LIC MF Mid Cap 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 2 (Direct)
LIC MF Mid Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| BANK OF INDIA MID CAP TAX FUND Series 2 (Direct) | 118% | 103% | 6.99% |
| LIC MF Mid Cap Fund (Direct) | 121% | 101% | 7.83% |
From month-end values since 31-07-2023. 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 2 vs LIC MF Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: BANK OF INDIA MID CAP TAX FUND Series 2, September 2026; LIC MF Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 23.5%
- Held by both
- 11
- Only in BANK OF INDIA MID CAP TAX FUND Series 2
- 44
- Only in LIC MF Mid Cap
- 28
| Security | % of BANK OF INDIA MID CAP TAX FUND Series 2 | % of LIC MF Mid Cap |
|---|---|---|
| Aurobindo Pharma Limited | 3.72% | 3.72% |
| UNO Minda Limited | 4.59% | 2.97% |
| Coforge Limited | 4.09% | 2.80% |
| One 97 Communications Limited | 2.71% | 2.86% |
| FSN E-Commerce Ventures Limited | 2.39% | 2.99% |
| The Federal Bank Limited | 3.16% | 2.12% |
| Dixon Technologies (India) Limited | 2.14% | 1.92% |
| Schaeffler India Limited | 1.96% | 1.71% |
| Endurance Technologies Limited | 1.14% | 2.08% |
| Jindal Stainless Limited | 1.09% | 2.04% |
| Nippon Life India Asset Management Limited | 0.90% | 2.39% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.5% means 23.5% 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 2
| Security | % of fund |
|---|---|
| Bank of Maharashtra | 4.33% |
| HDFC Bank Limited | 3.25% |
| Quality Power Electrical Eqp Ltd | 3.20% |
| Steel Authority of India Limited | 2.99% |
| Sterlite Technologies Limited | 2.79% |
Largest holdings only in LIC MF Mid Cap Fund
| Security | % of fund |
|---|---|
| AU Small Finance Bank Ltd. | 3.98% |
| INDO-MIM Ltd. | 3.89% |
| Neuland Laboratories Ltd. | 2.99% |
| Motilal Oswal Financial Services Ltd. | 2.95% |
| Info Edge (India) Ltd. | 2.92% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | BANK OF INDIA MID CAP TAX FUND Series 2 | LIC MF Mid Cap |
|---|---|---|
| Equity | 97.4% | 94.5% |
| Debt | 0.1% | 0.0% |
| Cash and others | 2.5% | 5.5% |
Market cap of stocks
| Market cap | BANK OF INDIA MID CAP TAX FUND Series 2 | LIC MF Mid Cap |
|---|---|---|
| Large Cap | 8.7% | 2.7% |
| Mid Cap | 67.8% | 78.2% |
| Small Cap | 20.1% | 9.7% |
| Not on AMFI's list | 0.8% | 3.9% |
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 2 | LIC MF Mid Cap |
|---|---|---|
| Pharmaceuticals & Biotechnology | 13.0% | 8.5% |
| Banks | 11.3% | 8.3% |
| Auto Components | 9.6% | 6.8% |
| Capital Markets | 3.8% | 9.5% |
| Retailing | 5.1% | 8.5% |
| IT - Software | 4.1% | 7.4% |
| Electrical Equipment | 5.1% | 7.0% |
| Aerospace & Defense | 4.3% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
BANK OF INDIA MID CAP TAX FUND Series 2 vs LIC MF Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | BANK OF INDIA MID CAP TAX FUND Series 2 | LIC MF Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.11% | 1.99% |
| Base expense ratio (Direct) | 0.75% | 1.15% |
| Total expense ratio (Regular) | 1.41% | 3.08% |
| Base expense ratio (Regular) | 1.00% | 2.10% |
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 2 vs LIC MF Mid Cap Fund: Frequently Asked Questions
What is the difference between BANK OF INDIA MID CAP TAX FUND Series 2 and LIC MF Mid Cap Fund?
BANK OF INDIA MID CAP TAX FUND Series 2 is an ELSS fund, LIC MF Mid Cap Fund is a Mid Cap fund, run by Bank of India Mutual Fund and LIC Mutual Fund. Their portfolios overlap 23.5%. BANK OF INDIA MID CAP TAX FUND Series 2 charges 1.11% a year and LIC MF Mid Cap Fund 1.99%.
Which has given higher returns, BANK OF INDIA MID CAP TAX FUND Series 2 or LIC MF Mid Cap Fund?
Over 1 year: BANK OF INDIA MID CAP TAX FUND Series 2 −1.89%, LIC MF Mid Cap Fund −3.88%. Over 3 years: BANK OF INDIA MID CAP TAX FUND Series 2 +13.12% a year, LIC MF Mid Cap Fund +13.70% 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 2 or LIC MF Mid Cap Fund?
BANK OF INDIA MID CAP TAX FUND Series 2 charges less: 1.11% a year against 1.99%. These are the Direct plans' total expense ratios reported to AMFI.
How much do BANK OF INDIA MID CAP TAX FUND Series 2 and LIC MF Mid Cap Fund overlap?
23.5%. They hold 11 of the same securities, the largest shared ones being AUROPHARMA, UNOMINDA, COFORGE. From each fund's latest monthly portfolio.
Which is riskier, BANK OF INDIA MID CAP TAX FUND Series 2 or LIC MF Mid Cap Fund?
On SEBI's riskometer, BANK OF INDIA MID CAP TAX FUND Series 2 is rated Very High and LIC MF Mid Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.41% and 16.76% a year.
Which is better for SIP, BANK OF INDIA MID CAP TAX FUND Series 2 or LIC MF Mid Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,98,976 in BANK OF INDIA MID CAP TAX FUND Series 2 (XIRR 4.8% a year) and ₹3,91,511 in LIC MF Mid Cap Fund (XIRR 3.6% 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 2 and LIC MF Mid Cap Fund?
Yes. 23.5% 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 2 and LIC MF Mid Cap Fund?
BANK OF INDIA MID CAP TAX FUND Series 2: Nilesh Jethani. LIC MF Mid Cap Fund: Sudhanshu Asthana.
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.