Baroda BNP Paribas Mid Cap Fund vs HSBC Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Baroda BNP Paribas Mid Cap Fund and HSBC Midcap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, Baroda BNP Paribas Mid Cap Fund (Direct) returned 15.3% a year and HSBC Midcap Fund (Direct) returned 21.6% a year. Baroda BNP Paribas Mid Cap Fund charges 0.78% a year and HSBC Midcap Fund 1.11% (Direct plans). Their portfolios overlap 28.7%: they hold 27 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, Baroda BNP Paribas Mid Cap 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 15.3%.
- HSBC Midcap returned more over 1 year: 9.6% against 0.8%.
- Baroda BNP Paribas Mid Cap costs less: 0.78% a year against 1.11% (Direct plans).
- Baroda BNP Paribas Mid Cap swung less over 3 years: a standard deviation of 15.2% a year against 18.7%.
- Baroda BNP Paribas Mid Cap fell less in its worst fall since 28-11-2022: −18.6% against −26.0%.
- HSBC Midcap is the larger fund: ₹16,800 Cr against ₹2,503 Cr.
- Their portfolios overlap 28.7%: 27 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 | Baroda BNP Paribas Mid Cap Fund | HSBC Midcap Fund |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | HSBC Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹2,503 Cr (30-09-2026) | ₹16,800 Cr (30-09-2026) |
| NAV | ₹124.91 (Direct) | ₹502.29 (Direct) |
| Expense ratio (Direct) | 0.78% | 1.11% |
| Expense ratio (Regular) | 2.21% | 2.18% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty Midcap 150 TRI |
| Launch date | Not available | 09-08-2004 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | Not available | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. |
Baroda BNP Paribas Mid Cap 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 |
|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Mid Cap Fund (Direct) | −2.78% | −6.73% | −2.62% | +0.79% | +15.34% | -- | -- |
| HSBC Midcap Fund (Direct) | −2.89% | −2.26% | +3.65% | +9.56% | +21.64% | -- | -- |
| 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.
Baroda BNP Paribas Mid Cap vs HSBC Midcap: Year-wise Returns
| Year | Baroda BNP Paribas Mid CapBaroda BNP Paribas Mid Cap | HSBC MidcapHSBC Midcap | Nifty Midcap 150 TRI |
|---|---|---|---|
| 2026to date | −0.52% | +9.89% | −4.97% |
| 2025 | +3.93% | −0.31% | +5.98% |
| 2024 | +30.45% | +41.24% | +24.46% |
| 2023 | +34.54% | +41.53% | +44.61% |
Baroda BNP Paribas Mid Cap vs HSBC Midcap: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of both
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.
Baroda BNP Paribas Mid Cap Fund (Direct)
HSBC Midcap Fund (Direct)
Nifty Midcap 150 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Mid Cap | 0.0 | 0.0 | 0.0 | 3.5 | 26.1 | 70.4 | 0.0 | 20.7% | 21.3% | 14.2% | 24.3% | 48% |
| 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% |
| Nifty Midcap 150 TRI | 0.0 | 0.0 | 0.0 | 11.9 | 22.6 | 63.3 | 2.2 | 20.8% | 21.9% | 12.7% | 26.0% | -- |
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 Nifty Midcap 150 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.
Baroda BNP Paribas Mid Cap 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 |
|---|---|---|---|---|
| Baroda BNP Paribas Mid CapBaroda BNP Paribas Mid Cap Fund (Direct) | ₹4,80,000 | ₹5,99,271 | ₹1,19,271 | 11.1% |
| HSBC MidcapHSBC Midcap Fund (Direct) | ₹4,80,000 | ₹6,84,074 | ₹2,04,074 | 18.0% |
Baroda BNP Paribas Mid CapBaroda BNP Paribas Mid Cap Fund (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.
Baroda BNP Paribas Mid Cap vs HSBC Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Baroda BNP Paribas Mid Cap Fund (Direct) | HSBC Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.79% | +9.56% |
| Standard deviation | 15.27% | 17.41% |
| Sharpe ratio | -0.29 | 0.25 |
| Sortino ratio | -0.39 | 0.34 |
| Maximum drawdown | −12.0% (23-10-2026) | −13.1% (23-10-2026) |
| Beta | 0.90 | 0.97 |
| Alpha | +4.15% | +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 | Baroda BNP Paribas Mid Cap Fund (Direct) | HSBC Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.34% | +21.64% |
| Standard deviation | 15.21% | 18.73% |
| Sharpe ratio | 0.61 | 0.83 |
| Sortino ratio | 0.82 | 1.12 |
| Maximum drawdown | −18.6% (28-02-2025) | −26.0% (28-02-2025) |
| Beta | 0.86 | 1.04 |
| Alpha | +2.60% | +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 | Baroda BNP Paribas Mid Cap Fund (Direct) | HSBC Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.77% | +21.80% |
| Standard deviation | 14.33% | 17.02% |
| Sharpe ratio | 0.68 | 0.92 |
| Sortino ratio | 0.92 | 1.23 |
| Maximum drawdown | −18.6% (28-02-2025) | −26.0% (28-02-2025) |
| Beta | 0.86 | 1.01 |
| Alpha | +0.61% | +5.71% |
From daily NAVs, 14-03-2022 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.
Baroda BNP Paribas Mid Cap Fund (Direct)
HSBC Midcap Fund (Direct)
Nifty Midcap 150 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas Mid Cap Fund (Direct) | −18.6% | 01-10-2024 | 28-02-2025 | 17-11-2025 | 9 months | −9.3% |
| HSBC Midcap Fund (Direct) | −26.0% | 17-12-2024 | 28-02-2025 | 20-04-2026 | 14 months | −9.5% |
| Nifty Midcap 150 TRI | −20.9% | 24-09-2024 | 28-02-2025 | 12-11-2025 | 8 months | −10.5% |
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.
Baroda BNP Paribas Mid Cap Fund (Direct)
HSBC Midcap Fund (Direct)
Nifty Midcap 150 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.
Baroda BNP Paribas Mid Cap Fund (Direct)
HSBC Midcap Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas Mid Cap Fund (Direct) | 87% | 76% | 3.91% |
| HSBC Midcap Fund (Direct) | 109% | 86% | 6.94% |
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.
Baroda BNP Paribas Mid Cap vs HSBC Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas Mid Cap Fund, September 2026; HSBC Midcap Fund, September 2026
Holdings in common
- Overlap
- 28.7%
- Held by both
- 27
- Only in Baroda BNP Paribas Mid Cap
- 50
- Only in HSBC Midcap
- 38
| Security | % of Baroda BNP Paribas Mid Cap | % of HSBC Midcap |
|---|---|---|
| GE Vernova T&D India Limited | 2.10% | 3.09% |
| AU Small Finance Bank Limited | 1.82% | 2.34% |
| IPCA Laboratories Limited | 2.23% | 1.75% |
| Multi Commodity Exchange of India Limited | 1.91% | 1.62% |
| Nippon Life India Asset Management Limited | 1.62% | 2.01% |
| Navin Fluorine International Limited | 1.55% | 2.01% |
| FSN E-Commerce Ventures Limited | 1.53% | 3.38% |
| Ashok Leyland Limited | 1.53% | 1.48% |
| One 97 Communications Limited | 1.92% | 1.47% |
| Hitachi Energy India Limited | 1.47% | 2.28% |
| Bharat Forge Limited | 1.46% | 2.61% |
| PB Fintech Limited | 1.59% | 1.45% |
| Indian Bank | 2.25% | 1.44% |
| Mankind Pharma Limited | 1.19% | 2.22% |
| Coforge Limited | 1.01% | 2.28% |
| Aditya Birla Capital Limited | 0.99% | 1.66% |
| Prestige Estates Projects Limited | 0.98% | 1.09% |
| JSW Energy Limited | 1.04% | 0.95% |
| The Federal Bank Limited | 0.76% | 3.90% |
| Cochin Shipyard Limited | 0.74% | 1.60% |
| Piramal Finance Limited | 0.73% | 3.56% |
| IndusInd Bank Limited | 0.56% | 1.64% |
| Max Financial Services Limited | 1.40% | 0.03% |
| Persistent Systems Limited | 1.69% | 0.01% |
| Bharti Hexacom Limited | 1.17% | 0.01% |
| TVS Motor Company Limited | 1.15% | 0.01% |
| Max Healthcare Institute Limited | 0.98% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.7% means 28.7% 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 Baroda BNP Paribas Mid Cap Fund
| Security | % of fund |
|---|---|
| Bharat Heavy Electricals Limited | 3.32% |
| Acutaas Chemicals Limited | 2.14% |
| Ujjivan Small Finance Bank Limited | 1.97% |
| The Phoenix Mills Limited | 1.93% |
| Hindustan Petroleum Corporation Limited | 1.82% |
Largest holdings only in HSBC Midcap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Limited | 5.08% |
| Meesho Limited | 5.04% |
| Aditya Infotech Limited | 3.64% |
| 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 | Baroda BNP Paribas Mid Cap | HSBC Midcap |
|---|---|---|
| Equity | 97.9% | 99.2% |
| Debt | 0.8% | 0.0% |
| Cash and others | 1.3% | 0.8% |
Market cap of stocks
| Market cap | Baroda BNP Paribas Mid Cap | HSBC Midcap |
|---|---|---|
| Large Cap | 12.3% | 4.7% |
| Mid Cap | 69.4% | 65.3% |
| Small Cap | 14.2% | 25.0% |
| Not on AMFI's list | 2.1% | 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 | Baroda BNP Paribas Mid Cap | HSBC Midcap |
|---|---|---|
| Electrical Equipment | 6.9% | 15.4% |
| Retailing | 2.5% | 13.5% |
| Banks | 11.7% | 11.0% |
| Pharmaceuticals & Biotechnology | 9.9% | 7.9% |
| Auto Components | 8.2% | 5.5% |
| Finance | 5.0% | 7.3% |
| Capital Markets | 6.1% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas Mid Cap vs HSBC Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas Mid Cap Fund | HSBC Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.78% | 1.11% |
| Base expense ratio (Direct) | 0.49% | 0.54% |
| Total expense ratio (Regular) | 2.21% | 2.18% |
| Base expense ratio (Regular) | 1.70% | 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
Compare Baroda BNP Paribas Mid Cap with
Baroda BNP Paribas Mid Cap Fund vs HSBC Midcap Fund: Frequently Asked Questions
What is the difference between Baroda BNP Paribas Mid Cap Fund and HSBC Midcap Fund?
Both are Mid Cap funds, run by Baroda BNP Paribas Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 28.7%. Baroda BNP Paribas Mid Cap Fund charges 0.78% a year and HSBC Midcap Fund 1.11%.
Which has given higher returns, Baroda BNP Paribas Mid Cap Fund or HSBC Midcap Fund?
Over 1 year: Baroda BNP Paribas Mid Cap Fund +0.79%, HSBC Midcap Fund +9.56%. Over 3 years: Baroda BNP Paribas Mid Cap Fund +15.34% 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, Baroda BNP Paribas Mid Cap Fund or HSBC Midcap Fund?
Baroda BNP Paribas Mid Cap Fund charges less: 0.78% a year against 1.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Baroda BNP Paribas Mid Cap Fund and HSBC Midcap Fund overlap?
28.7%. They hold 27 of the same securities, the largest shared ones being GVT&D, AUBANK, IPCALAB. From each fund's latest monthly portfolio.
Which is better for SIP, Baroda BNP Paribas Mid Cap Fund 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 ₹4,06,950 in Baroda BNP Paribas Mid Cap Fund (XIRR 6.1% 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 Baroda BNP Paribas Mid Cap Fund and HSBC Midcap Fund?
Yes. 28.7% 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.