Franklin India Mid Cap Fund vs Nippon India ETF Nifty Midcap 150
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Mid Cap Fund is a Mid Cap fund and Nippon India ETF Nifty Midcap 150 is a mutual fund. In the 3 years to 30-10-2026, Franklin India Mid Cap Fund (Direct) returned 13.4% a year and Nippon India ETF Nifty Midcap 150 (Direct) returned 13.6% a year. Franklin India Mid Cap Fund charges 1.14% a year and Nippon India ETF Nifty Midcap 150 0.28% (Direct plans). Their portfolios overlap 38.6%: they hold 54 of the same securities.
Franklin India Mid Cap Fund
Mid Cap
- 3 year return
- 13.4%
- Expense ratio
- 1.14%
- NAV
- ₹2,903.85
Nippon India ETF Nifty Midcap 150
- 3 year return
- 13.6%
- Expense ratio
- 0.28%
- NAV
- ₹217.96
Which is better, Franklin India Mid Cap or Nippon India ETF Nifty Midcap 150? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India ETF Nifty Midcap 150 returned more over 5 years: 13.6% a year against 11.5%.
- Nippon India ETF Nifty Midcap 150 returned more over 3 years: 13.6% a year against 13.4%.
- Nippon India ETF Nifty Midcap 150 costs less: 0.28% a year against 1.14% (Direct plans).
- Franklin India Mid Cap swung less over 3 years: a standard deviation of 15.5% a year against 17.1%.
- Franklin India Mid Cap fell less in its worst fall since 01-02-2019: −35.7% against −38.4%.
- Franklin India Mid Cap is the larger fund: ₹12,156 Cr against ₹3,821 Cr.
- Their portfolios overlap 38.6%: 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 | Nippon India ETF Nifty Midcap 150 |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Nippon India Mutual Fund |
| Category | Mid Cap | Not available |
| AUM | ₹12,156 Cr (30-09-2026) | ₹3,821 Cr (30-09-2026) |
| NAV | ₹2,903.85 (Direct) | ₹217.96 (Direct) |
| Expense ratio (Direct) | 1.14% | 0.28% |
| Expense ratio (Regular) | 1.92% | Not available |
| Riskometer | Not available | Not available |
| Benchmark | Nifty Midcap 150 TRI | Not available |
| Launch date | 01-12-1993 | Not available |
| Minimum investment | 5000/1 | Not available |
| Lock in | None | Not available |
| Fund managers | Janakiraman Rengaraju, Akhil Kalluri, Sandeep Manam | Not available |
| Exit load | Exit load of 1% if redeemed within 1 year | Not available |
Franklin India Mid Cap vs Nippon India ETF Nifty Midcap 150: 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% |
| Nippon India ETF Nifty Midcap 150 (Direct) | −3.63% | −8.46% | −3.99% | −4.46% | +13.60% | +13.60% | -- |
| 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 Nippon India ETF Nifty Midcap 150: Year-wise Returns
| Year | Franklin India Mid CapFranklin India Mid Cap | Nippon India ETF Nifty Midcap 150Nippon India ETF Nifty Midcap 150 | Nifty Midcap 150 TRI |
|---|---|---|---|
| 2026to date | −8.29% | −5.05% | −4.97% |
| 2025 | +2.42% | +5.77% | +5.98% |
| 2024 | +32.89% | +24.13% | +24.46% |
| 2023 | +37.97% | +44.29% | +44.61% |
| 2022 | +3.00% | +3.62% | +3.91% |
| 2021 | +33.67% | +47.60% | +48.16% |
Franklin India Mid Cap vs Nippon India ETF Nifty Midcap 150: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,168 of them, one for each trading day from 01-02-2022 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.
Franklin India Mid Cap Fund (Direct)
Nippon India ETF Nifty Midcap 150 (Direct)
Nifty Midcap 150 TRI
to
Jun 2022Apr 2020
to
Apr 2023Jan 2021
to
Jan 2024Nov 2021
to
Nov 2024Sept 2022
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India Mid Cap | 0.0 | 0.0 | 0.0 | 8.8 | 24.4 | 48.0 | 18.8 | 21.6% | 22.0% | 10.4% | 32.2% | 17% |
| Nippon India ETF Nifty Midcap 150 | 0.0 | 0.0 | 0.0 | 2.5 | 11.5 | 41.7 | 44.3 | 25.0% | 24.2% | 12.4% | 40.2% | 0% |
| Nifty Midcap 150 TRI | 0.0 | 0.0 | 0.0 | 2.3 | 9.9 | 41.0 | 46.7 | 25.3% | 24.6% | 12.7% | 40.6% | -- |
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 01-02-2019. Past returns do not promise future returns.
Franklin India Mid Cap vs Nippon India ETF Nifty Midcap 150: 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 01-02-2019 to 30-10-2026: 93 instalments, ₹9,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India Mid CapFranklin India Mid Cap Fund (Direct) | ₹9,30,000 | ₹16,76,370 | ₹7,46,370 | 14.9% |
| Nippon India ETF Nifty Midcap 150Nippon India ETF Nifty Midcap 150 (Direct) | ₹9,30,000 | ₹18,71,569 | ₹9,41,569 | 17.6% |
Franklin India Mid CapFranklin India Mid Cap Fund (Direct)
Nippon India ETF Nifty Midcap 150Nippon India ETF Nifty Midcap 150 (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.
Franklin India Mid Cap vs Nippon India ETF Nifty Midcap 150: 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) | Nippon India ETF Nifty Midcap 150 (Direct) |
|---|---|---|
| Return (CAGR) | −8.42% | −4.46% |
| Standard deviation | 15.59% | 16.63% |
| Sharpe ratio | -0.88 | -0.58 |
| Sortino ratio | -1.16 | -0.78 |
| Maximum drawdown | −15.5% (31-03-2026) | −13.9% (30-03-2026) |
| Beta | 0.91 | 1.00 |
| Alpha | −4.89% | −0.12% |
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 | Franklin India Mid Cap Fund (Direct) | Nippon India ETF Nifty Midcap 150 (Direct) |
|---|---|---|
| Return (CAGR) | +13.45% | +13.60% |
| Standard deviation | 15.52% | 17.06% |
| Sharpe ratio | 0.48 | 0.44 |
| Sortino ratio | 0.65 | 0.59 |
| Maximum drawdown | −18.3% (28-02-2025) | −21.0% (28-02-2025) |
| Beta | 0.89 | 1.00 |
| Alpha | +0.53% | −0.21% |
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 | Franklin India Mid Cap Fund (Direct) | Nippon India ETF Nifty Midcap 150 (Direct) |
|---|---|---|
| Return (CAGR) | +11.51% | +13.60% |
| Standard deviation | 15.36% | 16.71% |
| Sharpe ratio | 0.37 | 0.47 |
| Sortino ratio | 0.50 | 0.62 |
| Maximum drawdown | −22.7% (20-06-2022) | −21.0% (28-02-2025) |
| Beta | 0.89 | 1.00 |
| Alpha | −1.47% | −0.22% |
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 | Franklin India Mid Cap Fund (Direct) | Nippon India ETF Nifty Midcap 150 (Direct) |
|---|---|---|
| Return (CAGR) | +16.95% | +17.96% |
| Standard deviation | 15.17% | 18.17% |
| Sharpe ratio | 0.72 | 0.70 |
| Sortino ratio | 0.96 | 0.92 |
| Maximum drawdown | −36.6% (23-03-2020) | −38.4% (23-03-2020) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.31% |
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)
Nippon India ETF Nifty Midcap 150 (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) | −35.7% | 24-01-2020 | 23-03-2020 | 10-11-2020 | 8 months | −11.4% |
| Nippon India ETF Nifty Midcap 150 (Direct) | −38.4% | 07-02-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.5% |
| Nifty Midcap 150 TRI | −38.5% | 07-02-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.5% |
From daily values since 01-02-2019, 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.
Franklin India Mid Cap Fund (Direct)
Nippon India ETF Nifty Midcap 150 (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.
Franklin India Mid Cap Fund (Direct)
Nippon India ETF Nifty Midcap 150 (Direct)
Nifty Midcap 150 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.
Franklin India Mid Cap Fund (Direct)
Nippon India ETF Nifty Midcap 150 (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin India Mid Cap Fund (Direct) | 88% | 92% | 4.26% |
| Nippon India ETF Nifty Midcap 150 (Direct) | 99% | 100% | 0.15% |
From month-end values since 01-02-2019. 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.
Franklin India Mid Cap vs Nippon India ETF Nifty Midcap 150: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Mid Cap Fund, September 2026; Nippon India ETF Nifty Midcap 150, September 2026
Holdings in common
- Overlap
- 38.6%
- Held by both
- 54
- Only in Franklin India Mid Cap
- 25
- Only in Nippon India ETF Nifty Midcap 150
- 95
| Security | % of Franklin India Mid Cap | % of Nippon India ETF Nifty Midcap 150 |
|---|---|---|
| Federal Bank Ltd | 2.39% | 1.94% |
| One 97 Communications Ltd | 2.29% | 1.79% |
| Coforge Ltd | 1.91% | 1.51% |
| Dixon Technologies (India) Ltd | 1.46% | 1.35% |
| IDFC First Bank Ltd | 2.20% | 1.34% |
| Ge Vernova T&D India Ltd | 1.30% | 1.29% |
| 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% | 0.99% |
| ICICI Lombard General Insurance Co Ltd | 1.69% | 0.96% |
| Swiggy Ltd | 1.90% | 0.93% |
| PB Fintech Ltd | 1.77% | 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% | 0.71% |
| 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% |
| Tube Investments of India Ltd | 1.40% | 0.63% |
| Havells India Ltd | 1.30% | 0.63% |
| Prestige Estates Projects Ltd | 1.99% | 0.62% |
| Piramal Finance Ltd | 0.60% | 0.66% |
| Page Industries Ltd | 0.72% | 0.57% |
| Supreme Industries Ltd | 1.25% | 0.55% |
| Kalyan Jewellers India Ltd | 2.87% | 0.53% |
| Mahindra & Mahindra Financial Services Ltd | 1.38% | 0.53% |
| J.K. Cement Ltd | 1.04% | 0.53% |
| SRF Ltd | 0.53% | 0.89% |
| 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% |
| Aster DM Quality Care Ltd | 0.92% | 0.46% |
| ITC Hotels Ltd | 0.81% | 0.46% |
| Gujarat Fluorochemicals Ltd | 0.74% | 0.46% |
| PI Industries Ltd | 0.71% | 0.46% |
| 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% | 0.27% |
| 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. 38.6% means 38.6% 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 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 Nippon India ETF Nifty Midcap 150
| Security | % of fund |
|---|---|
| Laurus Labs Limited | 1.91% |
| Hero MotoCorp Limited | 1.68% |
| The Indian Hotels Company Limited | 1.58% |
| Bharat Heavy Electricals Limited | 1.50% |
| 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 | Nippon India ETF Nifty Midcap 150 |
|---|---|---|
| Equity | 98.1% | 99.0% |
| Debt | 0.2% | 0.0% |
| Cash and others | 1.7% | 1.0% |
Market cap of stocks
| Market cap | Franklin India Mid Cap | Nippon India ETF Nifty Midcap 150 |
|---|---|---|
| Large Cap | 9.8% | 5.7% |
| Mid Cap | 66.8% | 90.7% |
| 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 | Nippon India ETF Nifty Midcap 150 |
|---|---|---|
| Banks | 9.4% | 8.7% |
| Pharmaceuticals & Biotechnology | 6.1% | 9.2% |
| Consumer Durables | 7.1% | 4.4% |
| Finance | 6.0% | 6.8% |
| Industrial Products | 6.5% | 3.0% |
| Electrical Equipment | 5.2% | 6.0% |
| Retailing | 5.8% | 5.6% |
| Auto Components | 5.0% | 4.6% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Mid Cap vs Nippon India ETF Nifty Midcap 150: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Mid Cap Fund | Nippon India ETF Nifty Midcap 150 |
|---|---|---|
| Total expense ratio (Direct) | 1.14% | 0.28% |
| Base expense ratio (Direct) | 0.81% | 0.18% |
| Total expense ratio (Regular) | 1.92% | Not available |
| Base expense ratio (Regular) | 1.48% | 0.00% |
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.
More comparisons
Each fund against the others of its category
Franklin India Mid Cap Fund vs Nippon India ETF Nifty Midcap 150: Frequently Asked Questions
What is the difference between Franklin India Mid Cap Fund and Nippon India ETF Nifty Midcap 150?
Franklin India Mid Cap Fund is a Mid Cap fund, Nippon India ETF Nifty Midcap 150 is a mutual fund, run by Franklin Templeton Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 38.6%. Franklin India Mid Cap Fund charges 1.14% a year and Nippon India ETF Nifty Midcap 150 0.28%.
Which has given higher returns, Franklin India Mid Cap Fund or Nippon India ETF Nifty Midcap 150?
Over 1 year: Franklin India Mid Cap Fund −8.42%, Nippon India ETF Nifty Midcap 150 −4.46%. Over 3 years: Franklin India Mid Cap Fund +13.45% a year, Nippon India ETF Nifty Midcap 150 +13.60% a year. Over 5 years: Franklin India Mid Cap Fund +11.51% a year, Nippon India ETF Nifty Midcap 150 +13.60% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Mid Cap Fund or Nippon India ETF Nifty Midcap 150?
Nippon India ETF Nifty Midcap 150 charges less: 0.28% 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 Nippon India ETF Nifty Midcap 150 overlap?
38.6%. They hold 54 of the same securities, the largest shared ones being FEDERALBNK, PAYTM, COFORGE. From each fund's latest monthly portfolio.
Which is better for SIP, Franklin India Mid Cap Fund or Nippon India ETF Nifty Midcap 150?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,00,153 in Franklin India Mid Cap Fund (XIRR 10.6% a year) and ₹8,28,575 in Nippon India ETF Nifty Midcap 150 (XIRR 12.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Franklin India Mid Cap Fund and Nippon India ETF Nifty Midcap 150?
Yes. 38.6% 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.