HDFC Mid Cap Fund vs Sundaram Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Mid Cap Fund and Sundaram Mid Cap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, HDFC Mid Cap Fund (Direct) returned 15.6% a year and Sundaram Mid Cap Fund (Direct) returned 16.4% a year. HDFC Mid Cap Fund charges 0.74% a year and Sundaram Mid Cap Fund 1.06% (Direct plans). Their portfolios overlap 30.2%: they hold 25 of the same securities.
Sundaram Mid Cap Fund
Mid Cap
- 3 year return
- 16.4%
- Expense ratio
- 1.06%
- NAV
- ₹1,508.12
Which is better, HDFC Mid Cap or Sundaram 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.
- HDFC Mid Cap returned more over 5 years: 17.1% a year against 15.1%.
- Sundaram Mid Cap returned more over 3 years: 16.4% a year against 15.6%.
- HDFC Mid Cap costs less: 0.74% a year against 1.06% (Direct plans).
- HDFC Mid Cap swung less over 3 years: a standard deviation of 14.8% a year against 15.8%.
- HDFC Mid Cap fell less in its worst fall since 02-01-2013: −39.5% against −44.3%.
- HDFC Mid Cap is the larger fund: ₹1,01,856 Cr against ₹13,854 Cr.
- Their portfolios overlap 30.2%: 25 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 | HDFC Mid Cap Fund | Sundaram Mid Cap Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Sundaram Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹1,01,856 Cr (30-09-2026) | ₹13,854 Cr (30-09-2026) |
| NAV | ₹215.99 (Direct) | ₹1,508.12 (Direct) |
| Expense ratio (Direct) | 0.74% | 1.06% |
| Expense ratio (Regular) | 1.31% | 1.87% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | Nifty Midcap 150 TRI |
| Launch date | 25-06-2007 | 01-07-2002 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Chirag Setalvad, Gopal Agrawal, Bhagyesh Kagalkar | S Bharath, Shalav Saket |
| Exit load | In respect of each purchase/switch-in of units, an Exit Load of 1.00% is payable if Units are redeemed/switched-out within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed/ switched-out after 1 year from the date of allotment. | Nil - If up to 25% of the units invested are redeemed or withdrawn by way of SWP within 365 days from the date of allotment. Any redemptions or withdrawals by way of SWP in excess of the above mentioned limit would be subject to an exit load of 1 %, if the units are redeemed within 365 days from the date of allotment of units. Further, exit load will be waived on Intra-scheme and Inter scheme Switch-outs/STP. |
HDFC Mid Cap vs Sundaram 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 |
|---|---|---|---|---|---|---|---|
| HDFC Mid Cap Fund (Direct) | −2.08% | −7.20% | −0.80% | −2.96% | +15.64% | +17.09% | +16.31% |
| Sundaram Mid Cap Fund (Direct) | −3.35% | −9.04% | −3.11% | −4.58% | +16.41% | +15.07% | +13.18% |
| 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.
HDFC Mid Cap vs Sundaram Mid Cap: Year-wise Returns
| Year | HDFCHDFC Mid Cap | SundaramSundaram Mid Cap | Nifty Midcap 150 TRI |
|---|---|---|---|
| 2026to date | −3.90% | −4.19% | −4.97% |
| 2025 | +7.49% | +4.96% | +5.98% |
| 2024 | +29.47% | +33.13% | +24.46% |
| 2023 | +45.45% | +41.52% | +44.61% |
| 2022 | +13.09% | +5.82% | +3.91% |
| 2021 | +40.88% | +38.60% | +48.16% |
HDFC Mid Cap vs Sundaram Mid Cap: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,666 of them, one for each trading day from 04-01-2016 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.
HDFC Mid Cap Fund (Direct)
Sundaram Mid Cap Fund (Direct)
Nifty Midcap 150 TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Mid Cap | 3.9 | 5.8 | 6.5 | 9.3 | 15.8 | 17.3 | 41.4 | 21.1% | 22.9% | −8.4% | 43.4% | 55% |
| Sundaram Mid Cap | 7.9 | 5.2 | 7.5 | 13.2 | 13.5 | 19.5 | 33.2 | 18.6% | 20.8% | −10.5% | 43.4% | 29% |
| Nifty Midcap 150 TRI | 5.4 | 7.2 | 6.3 | 10.4 | 10.9 | 28.5 | 31.2 | 19.4% | 22.1% | −8.3% | 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 02-01-2013. Past returns do not promise future returns.
HDFC Mid Cap vs Sundaram 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Mid CapHDFC Mid Cap Fund (Direct) | ₹16,60,000 | ₹67,83,350 | ₹51,23,350 | 18.6% |
| Sundaram Mid CapSundaram Mid Cap Fund (Direct) | ₹16,60,000 | ₹55,91,372 | ₹39,31,372 | 16.2% |
HDFC Mid CapHDFC Mid Cap Fund (Direct)
Sundaram Mid CapSundaram 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.
HDFC Mid Cap vs Sundaram Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Mid Cap Fund (Direct) | Sundaram Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.96% | −4.58% |
| Standard deviation | 14.21% | 15.88% |
| Sharpe ratio | -0.58 | -0.62 |
| Sortino ratio | -0.77 | -0.84 |
| Maximum drawdown | −12.6% (23-03-2026) | −13.1% (23-10-2026) |
| Beta | 0.83 | 0.94 |
| Alpha | −0.24% | −0.77% |
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 | HDFC Mid Cap Fund (Direct) | Sundaram Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.64% | +16.41% |
| Standard deviation | 14.78% | 15.80% |
| Sharpe ratio | 0.65 | 0.66 |
| Sortino ratio | 0.88 | 0.89 |
| Maximum drawdown | −16.8% (04-03-2025) | −20.7% (28-02-2025) |
| Beta | 0.84 | 0.91 |
| Alpha | +3.08% | +3.32% |
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 | HDFC Mid Cap Fund (Direct) | Sundaram Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.09% | +15.07% |
| Standard deviation | 14.96% | 15.57% |
| Sharpe ratio | 0.75 | 0.60 |
| Sortino ratio | 1.02 | 0.80 |
| Maximum drawdown | −16.8% (04-03-2025) | −20.7% (28-02-2025) |
| Beta | 0.86 | 0.91 |
| Alpha | +4.34% | +1.95% |
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 | HDFC Mid Cap Fund (Direct) | Sundaram Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.31% | +16.92% |
| Standard deviation | 15.40% | 16.29% |
| Sharpe ratio | 0.86 | 0.67 |
| Sortino ratio | 1.15 | 0.89 |
| Maximum drawdown | −39.5% (23-03-2020) | −44.3% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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.
HDFC Mid Cap Fund (Direct)
Sundaram Mid Cap 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 |
|---|---|---|---|---|---|---|
| HDFC Mid Cap Fund (Direct) | −39.5% | 08-01-2018 | 23-03-2020 | 20-11-2020 | 8 months | −9.1% |
| Sundaram Mid Cap Fund (Direct) | −44.3% | 08-01-2018 | 23-03-2020 | 08-01-2021 | 10 months | −10.8% |
| Nifty Midcap 150 TRI | −43.1% | 08-01-2018 | 23-03-2020 | 23-11-2020 | 8 months | −10.5% |
From daily values since 02-01-2013, 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.
HDFC Mid Cap Fund (Direct)
Sundaram Mid Cap 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.
HDFC Mid Cap Fund (Direct)
Sundaram Mid Cap Fund (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.
HDFC Mid Cap Fund (Direct)
Sundaram Mid Cap Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Mid Cap Fund (Direct) | 93% | 83% | 3.96% |
| Sundaram Mid Cap Fund (Direct) | 90% | 91% | 4.44% |
From month-end values since 02-01-2013. 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.
HDFC Mid Cap vs Sundaram Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Mid Cap Fund, September 2026; Sundaram Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 30.2%
- Held by both
- 25
- Only in HDFC Mid Cap
- 54
- Only in Sundaram Mid Cap
- 48
| Security | % of HDFC Mid Cap | % of Sundaram Mid Cap |
|---|---|---|
| The Federal Bank Ltd. | 3.98% | 2.36% |
| Mahindra & Mahindra Financial Services Ltd. | 2.11% | 2.74% |
| Coforge Limited | 2.68% | 2.02% |
| Marico Ltd. | 2.37% | 1.87% |
| Cummins India Ltd. | 1.82% | 2.39% |
| Au Small Finance Bank Ltd. | 3.94% | 1.82% |
| Max Financial Services Ltd. | 3.52% | 1.79% |
| Gland Pharma Ltd. | 1.73% | 1.66% |
| Jindal Steel Limited. | 1.64% | 1.83% |
| Fortis Healthcare Limited | 2.40% | 1.50% |
| Delhivery Limited | 1.27% | 1.41% |
| Alkem Laboratories Ltd. | 1.72% | 1.21% |
| Coromandel International Limited | 1.19% | 1.91% |
| Hindustan Petroleum Corp. Ltd. | 2.09% | 1.19% |
| Indian Bank | 2.92% | 1.12% |
| Indusind Bank Ltd. | 1.04% | 1.82% |
| Persistent Systems Limited | 1.78% | 0.99% |
| Sona Blw Precision Forgings | 0.82% | 2.02% |
| Nippon Life India Asset Management Limited | 1.04% | 0.81% |
| PB Fintech Limited | 1.07% | 0.72% |
| Dixon Technologies (India) Ltd. | 0.66% | 1.12% |
| Bharti Hexacom Limited | 0.19% | 0.60% |
| Billionbrains Garage Ventures Limited (Groww) | 0.18% | 0.79% |
| LG Electronics India Limited | 0.17% | 1.42% |
| Emami Ltd. | 0.03% | 0.80% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.2% means 30.2% 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 HDFC Mid Cap Fund
| Security | % of fund |
|---|---|
| Ipca Laboratories Ltd. | 3.43% |
| Glenmark Pharmaceuticals Ltd. | 3.07% |
| Balkrishna Industries Ltd. | 2.98% |
| Vishal Mega Mart Limited | 2.24% |
| Aurobindo Pharma Ltd. | 2.19% |
Largest holdings only in Sundaram Mid Cap Fund
| Security | % of fund |
|---|---|
| Kalyan Jewellers India Ltd | 2.58% |
| IDFC First Bank Ltd | 2.25% |
| Thermax Ltd | 2.20% |
| The Phoenix Mills Ltd | 1.96% |
| BSE Ltd | 1.76% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Mid Cap | Sundaram Mid Cap |
|---|---|---|
| Equity | 91.7% | 95.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 8.3% | 4.4% |
Market cap of stocks
| Market cap | HDFC Mid Cap | Sundaram Mid Cap |
|---|---|---|
| Large Cap | 10.4% | 13.4% |
| Mid Cap | 64.1% | 66.0% |
| Small Cap | 17.2% | 15.9% |
| Not on AMFI's list | 0.0% | 0.3% |
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 | HDFC Mid Cap | Sundaram Mid Cap |
|---|---|---|
| Banks | 15.4% | 9.4% |
| Pharmaceuticals & Biotechnology | 12.1% | 6.1% |
| Auto Components | 9.6% | 6.1% |
| IT - Software | 7.2% | 0.0% |
| Industrial Products | 5.2% | 6.6% |
| Capital Markets | 1.2% | 6.3% |
| Consumer Durables | 2.8% | 6.1% |
| Insurance | 5.5% | 1.8% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Mid Cap vs Sundaram Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Mid Cap Fund | Sundaram Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.74% | 1.06% |
| Base expense ratio (Direct) | 0.60% | 0.76% |
| Total expense ratio (Regular) | 1.31% | 1.87% |
| Base expense ratio (Regular) | 1.09% | 1.46% |
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 HDFC Mid Cap with
HDFC Mid Cap Fund vs Sundaram Mid Cap Fund: Frequently Asked Questions
What is the difference between HDFC Mid Cap Fund and Sundaram Mid Cap Fund?
Both are Mid Cap funds, run by HDFC Mutual Fund and Sundaram Mutual Fund. Their portfolios overlap 30.2%. HDFC Mid Cap Fund charges 0.74% a year and Sundaram Mid Cap Fund 1.06%.
Which has given higher returns, HDFC Mid Cap Fund or Sundaram Mid Cap Fund?
Over 1 year: HDFC Mid Cap Fund −2.96%, Sundaram Mid Cap Fund −4.58%. Over 3 years: HDFC Mid Cap Fund +15.64% a year, Sundaram Mid Cap Fund +16.41% a year. Over 5 years: HDFC Mid Cap Fund +17.09% a year, Sundaram Mid Cap Fund +15.07% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Mid Cap Fund or Sundaram Mid Cap Fund?
HDFC Mid Cap Fund charges less: 0.74% a year against 1.06%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Mid Cap Fund and Sundaram Mid Cap Fund overlap?
30.2%. They hold 25 of the same securities, the largest shared ones being FEDERALBNK, M&MFIN, COFORGE. From each fund's latest monthly portfolio.
Which is riskier, HDFC Mid Cap Fund or Sundaram Mid Cap Fund?
On SEBI's riskometer, HDFC Mid Cap Fund is rated Very High and Sundaram Mid Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.78% and 15.80% a year.
Which is better for SIP, HDFC Mid Cap Fund or Sundaram Mid Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,92,875 in HDFC Mid Cap Fund (XIRR 15.0% a year) and ₹8,67,106 in Sundaram Mid Cap Fund (XIRR 13.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Mid Cap Fund and Sundaram Mid Cap Fund?
Yes. 30.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Mid Cap Fund and Sundaram Mid Cap Fund?
HDFC Mid Cap Fund: Chirag Setalvad, Gopal Agrawal, Bhagyesh Kagalkar. Sundaram Mid Cap Fund: S Bharath, Shalav Saket.
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.