HSBC Midcap Fund vs Kotak Nifty Midcap 150 Momentum 50 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Midcap Fund is a Mid Cap fund and Kotak Nifty Midcap 150 Momentum 50 Index Fund is an Index fund. In the year to 30-10-2026, HSBC Midcap Fund (Direct) returned 9.6% and Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct) returned −4.5%. HSBC Midcap Fund charges 1.11% a year and Kotak Nifty Midcap 150 Momentum 50 Index Fund 0.65% (Direct plans). Their portfolios overlap 32.7%: they hold 20 of the same securities.
Kotak Nifty Midcap 150 Momentum 50 Index Fund
Index
- 1 year return
- −4.5%
- Expense ratio
- 0.65%
- NAV
- ₹9.00
Which is better, HSBC Midcap or Kotak Nifty Midcap 150 Momentum 50 Index? 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 1 year: 9.6% against −4.5%.
- Kotak Nifty Midcap 150 Momentum 50 Index costs less: 0.65% a year against 1.11% (Direct plans).
- Kotak Nifty Midcap 150 Momentum 50 Index fell less in its worst fall since 11-10-2024: −25.5% against −26.0%.
- Kotak Nifty Midcap 150 Momentum 50 Index holds more in large companies: 20.7% of the fund in large caps against 4.7%.
- HSBC Midcap is the larger fund: ₹16,800 Cr against ₹447 Cr.
- Their portfolios overlap 32.7%: 20 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 | HSBC Midcap Fund | Kotak Nifty Midcap 150 Momentum 50 Index Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Mid Cap | Index |
| AUM | ₹16,800 Cr (30-09-2026) | ₹447 Cr (30-09-2026) |
| NAV | ₹502.29 (Direct) | ₹9.00 (Direct) |
| Expense ratio (Direct) | 1.11% | 0.65% |
| Expense ratio (Regular) | 2.18% | 1.31% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | NIFTY Midcap 150 Momentum 50 TRI |
| Launch date | 09-08-2004 | 08-10-2024 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | Nil |
HSBC Midcap vs Kotak Nifty Midcap 150 Momentum 50 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 |
|---|---|---|---|---|---|---|---|
| HSBC Midcap Fund (Direct) | −2.89% | −2.26% | +3.65% | +9.56% | +21.64% | -- | -- |
| Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct) | −2.13% | −4.25% | −2.63% | −4.46% | -- | -- | -- |
| 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.
HSBC Midcap vs Kotak Nifty Midcap 150 Momentum 50 Index: Year-wise Returns
| Year | HSBC MidcapHSBC Midcap | Kotak Nifty Midcap 150 Momentum 50 IndexKotak Nifty Midcap 150 Momentum 50 Index |
|---|---|---|
| 2026to date | +9.89% | −3.79% |
| 2025 | −0.31% | −4.10% |
| 2024 | +41.24% | -- |
| 2023 | +41.53% | -- |
HSBC Midcap vs Kotak Nifty Midcap 150 Momentum 50 Index: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of HSBC Midcap Fund
Rolling returns
Every 1-year holding period, 257 of them, one for each trading day from 13-10-2025 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.
HSBC Midcap Fund (Direct)
Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct)
Nifty Midcap 150 TRI
to
Nov 2025Jan 2025
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Midcap | 8.9 | 8.2 | 11.7 | 11.3 | 25.3 | 28.0 | 6.6 | 14.8% | 17.5% | −6.0% | 28.9% | 74% |
| Kotak Nifty Midcap 150 Momentum 50 Index | 34.6 | 34.6 | 17.5 | 8.2 | 5.1 | 0.0 | 0.0 | 2.7% | 2.3% | −9.8% | 19.3% | 0% |
| Nifty Midcap 150 TRI | 5.1 | 19.8 | 42.4 | 22.2 | 7.8 | 2.7 | 0.0 | 8.1% | 7.6% | −5.5% | 21.8% | -- |
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 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 11-10-2024. Past returns do not promise future returns.
HSBC Midcap vs Kotak Nifty Midcap 150 Momentum 50 Index: 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 01-10-2024 to 30-10-2026: 25 instalments, ₹2,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC MidcapHSBC Midcap Fund (Direct) | ₹2,50,000 | ₹2,81,030 | ₹31,030 | 11.3% |
| Kotak Nifty Midcap 150 Momentum 50 IndexKotak Nifty Midcap 150 Momentum 50 Index Fund (Direct) | ₹2,50,000 | ₹2,45,012 | −₹4,988 | −1.9% |
HSBC MidcapHSBC Midcap Fund (Direct)
Kotak Nifty Midcap 150 Momentum 50 IndexKotak Nifty Midcap 150 Momentum 50 Index 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.
HSBC Midcap vs Kotak Nifty Midcap 150 Momentum 50 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Midcap Fund (Direct) | Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.56% | −4.46% |
| Standard deviation | 17.41% | 18.68% |
| Sharpe ratio | 0.25 | -0.52 |
| Sortino ratio | 0.34 | -0.71 |
| Maximum drawdown | −13.1% (23-10-2026) | −14.5% (30-03-2026) |
| Beta | 0.97 | 1.00 |
| Alpha | +13.62% | −0.49% |
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 | HSBC Midcap Fund (Direct) | Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.80% | −5.67% |
| Standard deviation | 17.02% | 19.47% |
| Sharpe ratio | 0.92 | -0.58 |
| Sortino ratio | 1.23 | -0.78 |
| Maximum drawdown | −26.0% (28-02-2025) | −25.5% (13-03-2025) |
| Beta | 1.01 | 1.00 |
| Alpha | +5.71% | −0.59% |
From daily NAVs, 28-11-2022 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.
HSBC Midcap Fund (Direct)
Kotak Nifty Midcap 150 Momentum 50 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 |
|---|---|---|---|---|---|---|
| HSBC Midcap Fund (Direct) | −26.0% | 17-12-2024 | 28-02-2025 | 20-04-2026 | 14 months | −9.5% |
| Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct) | −25.5% | 16-12-2024 | 13-03-2025 | Not yet | -- | −12.8% |
| Nifty Midcap 150 TRI | −19.6% | 15-10-2024 | 28-02-2025 | 27-10-2025 | 8 months | −10.5% |
From daily values since 11-10-2024, 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.
HSBC Midcap Fund (Direct)
Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Midcap Fund (Direct) | 130% | 105% | 8.46% |
| Kotak Nifty Midcap 150 Momentum 50 Index Fund (Direct) | 100% | 115% | 5.69% |
From month-end values since 11-10-2024. 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.
HSBC Midcap vs Kotak Nifty Midcap 150 Momentum 50 Index: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Midcap Fund, September 2026; Kotak Nifty Midcap 150 Momentum 50 Index Fund, September 2026
Holdings in common
- Overlap
- 32.7%
- Held by both
- 20
- Only in HSBC Midcap
- 45
- Only in Kotak Nifty Midcap 150 Momentum 50 Index
- 30
| Security | % of HSBC Midcap | % of Kotak Nifty Midcap 150 Momentum 50 Index |
|---|---|---|
| The Federal Bank Limited | 3.90% | 4.61% |
| GE Vernova T&D India Limited | 3.09% | 4.29% |
| Bharat Forge Limited | 2.61% | 3.91% |
| AU Small Finance Bank Limited | 2.34% | 2.68% |
| Hitachi Energy India Limited | 2.28% | 3.54% |
| APAR INDUSTRIES LTD | 3.16% | 1.90% |
| FSN E-Commerce Ventures Limited | 3.38% | 1.66% |
| Aditya Birla Capital Limited | 1.66% | 1.65% |
| IndusInd Bank Limited | 1.64% | 2.14% |
| Multi Commodity Exchange of India Ltd. | 1.62% | 6.00% |
| Radico Khaitan Limited | 2.89% | 1.61% |
| Ashok Leyland Limited | 1.48% | 1.63% |
| One 97 Communications Limited | 1.47% | 1.88% |
| Thermax Limited | 1.67% | 1.15% |
| Lupin Limited | 1.11% | 2.21% |
| Nippon Life India Asset Management Ltd | 2.01% | 1.08% |
| Indian Bank | 1.44% | 1.08% |
| JSW Energy Limited | 0.95% | 1.51% |
| Max Financial Services Limited | 0.03% | 1.11% |
| KEI Industries Limited | 0.02% | 1.74% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.7% means 32.7% 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 HSBC Midcap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Limited | 5.08% |
| Meesho Limited | 5.04% |
| Aditya Infotech Limited | 3.64% |
| Piramal Finance Ltd | 3.56% |
| Ather Energy Limited | 3.03% |
Largest holdings only in Kotak Nifty Midcap 150 Momentum 50 Index Fund
| Security | % of fund |
|---|---|
| Laurus Labs Ltd | 7.03% |
| Bharat Heavy Electricals Ltd. | 4.47% |
| BSE LTD | 4.11% |
| National Aluminium Company Ltd. | 3.22% |
| polycab India Limited | 3.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Midcap | Kotak Nifty Midcap 150 Momentum 50 Index |
|---|---|---|
| Equity | 99.2% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.8% | -0.1% |
Market cap of stocks
| Market cap | HSBC Midcap | Kotak Nifty Midcap 150 Momentum 50 Index |
|---|---|---|
| Large Cap | 4.7% | 20.7% |
| Mid Cap | 65.3% | 79.4% |
| Small Cap | 25.0% | 0.0% |
| Not on AMFI's list | 4.2% | 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 | HSBC Midcap | Kotak Nifty Midcap 150 Momentum 50 Index |
|---|---|---|
| Pharmaceuticals and Biotechnology | 0.0% | 15.7% |
| Electrical Equipment | 15.4% | 15.3% |
| Retailing | 13.5% | 1.7% |
| Banks | 11.0% | 12.0% |
| Capital Markets | 5.1% | 11.2% |
| Pharmaceuticals & Biotechnology | 7.9% | 0.0% |
| Finance | 7.3% | 2.7% |
| Industrial Products | 0.2% | 6.8% |
| Auto Components | 5.5% | 3.9% |
| Telecom - Services | 0.0% | 5.2% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Midcap vs Kotak Nifty Midcap 150 Momentum 50 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Midcap Fund | Kotak Nifty Midcap 150 Momentum 50 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.11% | 0.65% |
| Base expense ratio (Direct) | 0.54% | 0.24% |
| Total expense ratio (Regular) | 2.18% | 1.31% |
| Base expense ratio (Regular) | 1.44% | 0.79% |
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
HSBC Midcap Fund vs Kotak Nifty Midcap 150 Momentum 50 Index Fund: Frequently Asked Questions
What is the difference between HSBC Midcap Fund and Kotak Nifty Midcap 150 Momentum 50 Index Fund?
HSBC Midcap Fund is a Mid Cap fund, Kotak Nifty Midcap 150 Momentum 50 Index Fund is an Index fund, run by HSBC Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 32.7%. HSBC Midcap Fund charges 1.11% a year and Kotak Nifty Midcap 150 Momentum 50 Index Fund 0.65%.
Which has given higher returns, HSBC Midcap Fund or Kotak Nifty Midcap 150 Momentum 50 Index Fund?
Over 1 year: HSBC Midcap Fund +9.56%, Kotak Nifty Midcap 150 Momentum 50 Index Fund −4.46%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Midcap Fund or Kotak Nifty Midcap 150 Momentum 50 Index Fund?
Kotak Nifty Midcap 150 Momentum 50 Index Fund charges less: 0.65% a year against 1.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Midcap Fund and Kotak Nifty Midcap 150 Momentum 50 Index Fund overlap?
32.7%. They hold 20 of the same securities, the largest shared ones being FEDERALBNK, GVT&D, BHARATFORG. From each fund's latest monthly portfolio.
Which is riskier, HSBC Midcap Fund or Kotak Nifty Midcap 150 Momentum 50 Index Fund?
On SEBI's riskometer, HSBC Midcap Fund is rated Very High and Kotak Nifty Midcap 150 Momentum 50 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 17.41% and 18.68% a year.
Can I invest in both HSBC Midcap Fund and Kotak Nifty Midcap 150 Momentum 50 Index Fund?
Yes. 32.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Midcap Fund and Kotak Nifty Midcap 150 Momentum 50 Index Fund?
HSBC Midcap Fund: Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh. Kotak Nifty Midcap 150 Momentum 50 Index Fund: Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar.
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.