Franklin India Mid Cap Fund vs Groww Nifty Midcap 150 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Mid Cap Fund is a Mid Cap fund and Groww Nifty Midcap 150 Index Fund is an Index fund. Franklin India Mid Cap Fund charges 1.14% a year and Groww Nifty Midcap 150 Index Fund 0.54% (Direct plans). Their portfolios overlap 38.5%: they hold 54 of the same securities.
Groww Nifty Midcap 150 Index Fund
Index
- Expense ratio
- 0.54%
- NAV
- ₹9.42
Which is better, Franklin India Mid Cap or Groww Nifty Midcap 150 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Groww Nifty Midcap 150 Index costs less: 0.54% a year against 1.14% (Direct plans).
- Groww Nifty Midcap 150 Index fell less in its worst fall since 17-11-2025: −14.0% against −15.5%.
- Franklin India Mid Cap is the larger fund: ₹12,156 Cr against ₹15 Cr.
- Their portfolios overlap 38.5%: 54 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 | Franklin India Mid Cap Fund | Groww Nifty Midcap 150 Index Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Groww Mutual Fund |
| Category | Mid Cap | Index |
| AUM | ₹12,156 Cr (30-09-2026) | ₹15 Cr (30-09-2026) |
| NAV | ₹2,903.85 (Direct) | ₹9.42 (Direct) |
| Expense ratio (Direct) | 1.14% | 0.54% |
| Expense ratio (Regular) | 1.92% | 1.18% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty Midcap 150 TRI | Nifty Next 50 TRI |
| Launch date | 01-12-1993 | 13-11-2025 |
| Minimum investment | 5000/1 | ₹500 |
| Lock in | None | None |
| Fund managers | Janakiraman Rengaraju, Akhil Kalluri, Sandeep Manam | Aakash Chauhan, Nikhil Satam, Shashi Kumar |
| Exit load | Exit load of 1% if redeemed within 1 year | Nil |
Franklin India Mid Cap vs Groww Nifty Midcap 150 Index: 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Mid Cap Fund (Direct) | −4.32% | −9.38% | −3.37% | −8.42% | +13.45% | +11.51% | +13.22% |
| Groww Nifty Midcap 150 Index Fund (Direct) | −3.72% | −8.68% | −4.31% | -- | -- | -- | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | +12.95% | +14.07% |
Category average: the average of the 34 Mid Cap funds, same plan type.
Franklin India Mid Cap vs Groww Nifty Midcap 150 Index: Year-wise Returns
| Year | Franklin India Mid CapFranklin India Mid Cap | Groww Nifty Midcap 150 IndexGroww Nifty Midcap 150 Index |
|---|---|---|
| 2026to date | −8.29% | −5.47% |
| 2025 | +2.42% | -- |
| 2024 | +32.89% | -- |
| 2023 | +37.97% | -- |
| 2022 | +3.00% | -- |
| 2021 | +33.67% | -- |
Franklin India Mid Cap vs Groww Nifty Midcap 150 Index: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of Franklin India Mid Cap Fund
Franklin India Mid Cap vs Groww Nifty Midcap 150 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin India Mid Cap Fund (Direct) | Groww Nifty Midcap 150 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.95% | −6.67% |
| Standard deviation | 15.17% | 16.87% |
| Sharpe ratio | 0.72 | -0.71 |
| Sortino ratio | 0.96 | -0.94 |
| Maximum drawdown | −36.6% (23-03-2020) | −14.0% (31-03-2026) |
| Beta | -- | 0.90 |
| Alpha | -- | −4.69% |
From daily NAVs, 01-01-2013 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.
Franklin India Mid Cap Fund (Direct)
Groww Nifty Midcap 150 Index 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 |
|---|---|---|---|---|---|---|
| Franklin India Mid Cap Fund (Direct) | −15.5% | 17-11-2025 | 31-03-2026 | 15-07-2026 | 3 months | −11.4% |
| Groww Nifty Midcap 150 Index Fund (Direct) | −14.0% | 07-01-2026 | 31-03-2026 | 07-05-2026 | 37 days | −10.7% |
| Nifty Midcap 150 TRI | −13.9% | 07-01-2026 | 30-03-2026 | 07-05-2026 | 38 days | −10.5% |
From daily values since 17-11-2025, the first day every fund has.
Franklin India Mid Cap vs Groww Nifty Midcap 150 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Mid Cap Fund, September 2026; Groww Nifty Midcap 150 Index Fund, September 2026
Holdings in common
- Overlap
- 38.5%
- Held by both
- 54
- Only in Franklin India Mid Cap
- 25
- Only in Groww Nifty Midcap 150 Index
- 96
| Security | % of Franklin India Mid Cap | % of Groww Nifty Midcap 150 Index |
|---|---|---|
| Federal Bank Ltd | 2.39% | 1.94% |
| One 97 Communications Ltd | 2.29% | 1.78% |
| Coforge Ltd | 1.91% | 1.50% |
| Dixon Technologies (India) Ltd | 1.46% | 1.34% |
| IDFC First Bank Ltd | 2.20% | 1.33% |
| Ge Vernova T&D India Ltd | 1.30% | 1.28% |
| Lenskart Solutions Ltd | 1.59% | 1.24% |
| Ashok Leyland Ltd | 1.85% | 1.09% |
| Multi Commodity Exchange Of India Ltd | 1.09% | 2.08% |
| Suzlon Energy Ltd | 1.06% | 1.19% |
| APL Apollo Tubes Ltd | 2.16% | 0.98% |
| ICICI Lombard General Insurance Co Ltd | 1.69% | 0.96% |
| PB Fintech Ltd | 1.77% | 0.93% |
| Swiggy Ltd | 1.90% | 0.93% |
| Max Financial Services Ltd | 1.19% | 0.90% |
| Hindustan Petroleum Corporation Ltd | 0.89% | 0.83% |
| Phoenix Mills Ltd | 0.81% | 0.89% |
| Indus Towers Ltd | 0.80% | 1.19% |
| Shree Cement Ltd | 1.54% | 0.74% |
| Mphasis Ltd | 1.22% | 0.70% |
| Mankind Pharma Ltd | 2.12% | 0.70% |
| 360 One Wam Ltd | 0.96% | 0.67% |
| IPCA Laboratories Ltd | 1.55% | 0.66% |
| Billionbrains Garage Ventures Ltd | 1.24% | 0.65% |
| Biocon Ltd | 2.47% | 0.64% |
| Havells India Ltd | 1.30% | 0.63% |
| Tube Investments of India Ltd | 1.40% | 0.63% |
| Prestige Estates Projects Ltd | 1.99% | 0.62% |
| Piramal Finance Ltd | 0.60% | 0.66% |
| Page Industries Ltd | 0.72% | 0.56% |
| Supreme Industries Ltd | 1.25% | 0.55% |
| Mahindra & Mahindra Financial Services Ltd | 1.38% | 0.53% |
| SRF Ltd | 0.53% | 0.89% |
| Kalyan Jewellers India Ltd | 2.87% | 0.52% |
| J.K. Cement Ltd | 1.04% | 0.52% |
| Meesho Ltd | 1.37% | 0.52% |
| Oberoi Realty Ltd | 0.78% | 0.51% |
| Tata Communications Ltd | 1.20% | 0.48% |
| Coromandel International Ltd | 0.47% | 0.52% |
| Exide Industries Ltd | 0.95% | 0.46% |
| PI Industries Ltd | 0.71% | 0.46% |
| Aster DM Quality Care Ltd | 0.92% | 0.46% |
| Gujarat Fluorochemicals Ltd | 0.74% | 0.46% |
| ITC Hotels Ltd | 0.81% | 0.45% |
| Jubilant Foodworks Ltd | 1.01% | 0.44% |
| Balkrishna Industries Ltd | 1.96% | 0.42% |
| Astral Ltd | 1.52% | 0.41% |
| HDB Financial Services Ltd | 1.38% | 0.33% |
| Godrej Properties Ltd | 0.31% | 0.54% |
| K.P.R. Mill Ltd | 1.09% | 0.30% |
| Bharti Hexacom Ltd | 0.75% | 0.26% |
| Escorts Kubota Ltd | 0.89% | 0.22% |
| Hexaware Technologies Ltd | 1.02% | 0.18% |
| JSW Infrastructure Ltd | 0.07% | 0.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.5% means 38.5% 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 Franklin India Mid Cap Fund
| Security | % of fund |
|---|---|
| Hindustan Aeronautics Ltd | 1.77% |
| Timken India Ltd | 1.55% |
| MTAR Technologies Ltd | 1.51% |
| State Bank of India | 1.51% |
| Poonawalla Fincorp Ltd | 1.50% |
Largest holdings only in Groww Nifty Midcap 150 Index Fund
| Security | % of fund |
|---|---|
| Laurus Labs Limited | 1.90% |
| Hero MotoCorp Limited | 1.68% |
| The Indian Hotels Company Limited | 1.58% |
| Bharat Heavy Electricals Limited | 1.49% |
| IndusInd Bank Limited | 1.47% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Mid Cap | Groww Nifty Midcap 150 Index |
|---|---|---|
| Equity | 98.1% | 99.1% |
| Debt | 0.2% | 0.0% |
| Cash and others | 1.7% | 0.9% |
Market cap of stocks
| Market cap | Franklin India Mid Cap | Groww Nifty Midcap 150 Index |
|---|---|---|
| Large Cap | 9.8% | 5.7% |
| Mid Cap | 66.8% | 90.9% |
| Small Cap | 20.1% | 2.5% |
| Not on AMFI's list | 1.3% | 0.0% |
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 | Franklin India Mid Cap | Groww Nifty Midcap 150 Index |
|---|---|---|
| Banks | 9.4% | 8.7% |
| Pharmaceuticals & Biotechnology | 6.1% | 9.2% |
| Consumer Durables | 7.1% | 4.3% |
| Finance | 6.0% | 6.8% |
| Industrial Products | 6.5% | 3.0% |
| Electrical Equipment | 5.2% | 6.0% |
| Retailing | 5.8% | 5.6% |
| Capital Markets | 4.5% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Mid Cap vs Groww Nifty Midcap 150 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Mid Cap Fund | Groww Nifty Midcap 150 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.14% | 0.54% |
| Base expense ratio (Direct) | 0.81% | 0.34% |
| Total expense ratio (Regular) | 1.92% | 1.18% |
| Base expense ratio (Regular) | 1.48% | 0.90% |
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
Franklin India Mid Cap Fund vs Groww Nifty Midcap 150 Index Fund: Frequently Asked Questions
What is the difference between Franklin India Mid Cap Fund and Groww Nifty Midcap 150 Index Fund?
Franklin India Mid Cap Fund is a Mid Cap fund, Groww Nifty Midcap 150 Index Fund is an Index fund, run by Franklin Templeton Mutual Fund and Groww Mutual Fund. Their portfolios overlap 38.5%. Franklin India Mid Cap Fund charges 1.14% a year and Groww Nifty Midcap 150 Index Fund 0.54%.
Which has the lower expense ratio, Franklin India Mid Cap Fund or Groww Nifty Midcap 150 Index Fund?
Groww Nifty Midcap 150 Index Fund charges less: 0.54% a year against 1.14%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Mid Cap Fund and Groww Nifty Midcap 150 Index Fund overlap?
38.5%. They hold 54 of the same securities, the largest shared ones being FEDERALBNK, PAYTM, COFORGE. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Mid Cap Fund and Groww Nifty Midcap 150 Index Fund?
Yes. 38.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Franklin India Mid Cap Fund and Groww Nifty Midcap 150 Index Fund?
Franklin India Mid Cap Fund: Janakiraman Rengaraju, Akhil Kalluri, Sandeep Manam. Groww Nifty Midcap 150 Index Fund: Aakash Chauhan, Nikhil Satam, Shashi Kumar.
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.