Invesco India Mid cap Fund vs JM Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Mid cap Fund and JM Mid Cap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, Invesco India Mid cap Fund (Direct) returned 21.8% a year and JM Mid Cap Fund (Direct) returned 17.3% a year. Invesco India Mid cap Fund charges 0.77% a year and JM Mid Cap Fund 0.96% (Direct plans). Their portfolios overlap 18.1%: they hold 14 of the same securities.
Invesco India Mid cap Fund
Mid Cap
- 3 year return
- 21.8%
- Expense ratio
- 0.77%
- NAV
- ₹223.87
Which is better, Invesco India Mid cap or JM 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.
- Invesco India Mid cap returned more over 3 years: 21.8% a year against 17.3%.
- JM Mid Cap returned more over 1 year: −0.1% against −0.5%.
- Invesco India Mid cap costs less: 0.77% a year against 0.96% (Direct plans).
- Invesco India Mid cap swung less over 3 years: a standard deviation of 17.1% a year against 17.9%.
- Invesco India Mid cap fell less in its worst fall since 25-11-2022: −20.1% against −22.5%.
- Invesco India Mid cap holds more in large companies: 15.3% of the fund in large caps against 4.9%.
- Invesco India Mid cap is the larger fund: ₹15,749 Cr against ₹1,303 Cr.
- Their portfolios overlap 18.1%: 14 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 | Invesco India Mid cap Fund | JM Mid Cap Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | JM Financial Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹15,749 Cr (30-09-2026) | ₹1,303 Cr (30-09-2026) |
| NAV | ₹223.87 (Direct) | ₹20.79 (Direct) |
| Expense ratio (Direct) | 0.77% | 0.96% |
| Expense ratio (Regular) | 1.87% | 2.47% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Midcap 150 TRI | Nifty Midcap 150 TRI |
| Launch date | 19-04-2007 | 21-11-2022 |
| Minimum investment | Not available | ₹1,000 |
| Lock in | None | None |
| Fund managers | Aditya Khemani | Satish Ramanathan, Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 180 days from the date of allotment, No Exit Load is payable if Units are redeemed / switched-out after 180 days from the date of allotment, No Entry / Exit Load shall be levied on units allotted on Reinvestment of Income Distribution cum Capital Withdrawal Option, In respect of Systematic Transactions such as SIP,STP, SWP, Exit Load, if any, prevailing on the date of registration / enrolment for SIP/STP/SWP shall be levied for all the opted Installments. |
Invesco India Mid cap vs JM 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Mid cap Fund (Direct) | −3.23% | −6.81% | +3.14% | −0.48% | +21.77% | +17.38% | +18.35% |
| JM Mid Cap Fund (Direct) | −5.08% | −5.86% | +3.24% | −0.08% | +17.31% | -- | -- |
| 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.
Invesco India Mid cap vs JM Mid Cap: Year-wise Returns
| Year | Invesco IndiaInvesco India Mid cap | JMJM Mid Cap |
|---|---|---|
| 2026to date | +1.00% | +3.57% |
| 2025 | +7.61% | −1.16% |
| 2024 | +44.96% | +37.77% |
| 2023 | +35.85% | +47.33% |
| 2022 | +1.98% | -- |
| 2021 | +45.24% | -- |
Invesco India Mid cap vs JM Mid Cap: Rolling Returns
Every holding period of both funds, against BSE 150 MidCap Index TRI, the benchmark of Invesco India Mid cap Fund
Rolling returns
Every 3-year holding period, 229 of them, one for each trading day from 25-11-2025 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.
Invesco India Mid cap Fund (Direct)
JM Mid Cap Fund (Direct)
BSE 150 MidCap Index 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Mid cap | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 20.5 | 79.5 | 26.3% | 26.6% | 20.3% | 30.3% | 100% |
| JM Mid Cap | 0.0 | 0.0 | 0.0 | 0.0 | 16.6 | 48.0 | 35.4 | 23.2% | 24.0% | 15.6% | 27.9% | 100% |
| BSE 150 MidCap Index TRI | 0.0 | 0.0 | 0.0 | 12.2 | 29.7 | 57.6 | 0.4 | 20.1% | 21.0% | 12.4% | 25.0% | -- |
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 BSE 150 MidCap Index 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 25-11-2022. Past returns do not promise future returns.
Invesco India Mid cap vs JM 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 01-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India Mid capInvesco India Mid cap Fund (Direct) | ₹4,80,000 | ₹6,68,198 | ₹1,88,198 | 16.7% |
| JM Mid CapJM Mid Cap Fund (Direct) | ₹4,80,000 | ₹6,28,057 | ₹1,48,057 | 13.5% |
Invesco India Mid capInvesco India Mid cap Fund (Direct)
JM Mid CapJM 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.
Invesco India Mid cap vs JM Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Mid cap Fund (Direct) | JM Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.48% | −0.08% |
| Standard deviation | 17.52% | 18.23% |
| Sharpe ratio | -0.33 | -0.29 |
| Sortino ratio | -0.46 | -0.40 |
| Maximum drawdown | −16.7% (30-03-2026) | −15.2% (23-03-2026) |
| Beta | 1.01 | 1.06 |
| Alpha | +4.84% | +4.83% |
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 | Invesco India Mid cap Fund (Direct) | JM Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.77% | +17.31% |
| Standard deviation | 17.13% | 17.89% |
| Sharpe ratio | 0.92 | 0.63 |
| Sortino ratio | 1.29 | 0.85 |
| Maximum drawdown | −20.1% (28-02-2025) | −22.5% (28-02-2025) |
| Beta | 0.93 | 1.00 |
| Alpha | +8.73% | +3.48% |
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 | Invesco India Mid cap Fund (Direct) | JM Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.14% | +20.35% |
| Standard deviation | 15.93% | 16.62% |
| Sharpe ratio | 0.88 | 0.85 |
| Sortino ratio | 1.19 | 1.15 |
| Maximum drawdown | −34.1% (23-03-2020) | −22.5% (28-02-2025) |
| Beta | 0.91 | 0.99 |
| Alpha | +4.31% | +4.21% |
From daily NAVs, 02-01-2013 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.
Invesco India Mid cap Fund (Direct)
JM Mid Cap Fund (Direct)
BSE 150 MidCap Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Mid cap Fund (Direct) | −20.1% | 16-12-2024 | 28-02-2025 | 06-06-2025 | 3 months | −9.2% |
| JM Mid Cap Fund (Direct) | −22.5% | 24-09-2024 | 28-02-2025 | 15-06-2026 | 16 months | −10.1% |
| BSE 150 MidCap Index TRI | −21.8% | 24-09-2024 | 28-02-2025 | 10-07-2026 | 16 months | −10.6% |
From daily values since 25-11-2022, 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.
Invesco India Mid cap Fund (Direct)
JM Mid Cap Fund (Direct)
BSE 150 MidCap Index 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.
Invesco India Mid cap Fund (Direct)
JM Mid Cap Fund (Direct)
BSE 150 MidCap Index TRI
Against BSE 150 MidCap Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Invesco India Mid cap Fund (Direct) | 115% | 99% | 5.97% |
| JM Mid Cap Fund (Direct) | 109% | 91% | 5.78% |
From month-end values since 25-11-2022. 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.
Invesco India Mid cap vs JM Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Mid cap Fund, September 2026; JM Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 18.1%
- Held by both
- 14
- Only in Invesco India Mid cap
- 29
- Only in JM Mid Cap
- 58
| Security | % of Invesco India Mid cap | % of JM Mid Cap |
|---|---|---|
| Glenmark Pharmaceuticals Limited | 2.76% | 2.66% |
| Bharat Forge Limited | 2.81% | 2.24% |
| JK Cement Limited | 2.90% | 1.81% |
| SRF Limited | 2.21% | 1.61% |
| AU Small Finance Bank Limited | 3.81% | 1.43% |
| Dixon Technologies (India) Limited | 1.29% | 1.47% |
| Tube Investments Of India Limited | 1.23% | 2.20% |
| Prestige Estates Projects Limited | 7.33% | 1.02% |
| Billionbrains Garage Ventures Ltd | 1.02% | 1.41% |
| FSN E-Commerce Ventures Limited | 2.04% | 0.98% |
| BSE Limited | 3.06% | 0.95% |
| Aditya Infotech Limited | 2.47% | 0.91% |
| Swiggy Limited | 1.32% | 0.58% |
| Wework India Management Limited | 0.37% | 1.39% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.1% means 18.1% 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 Invesco India Mid cap Fund
| Security | % of fund |
|---|---|
| Max Healthcare Institute Limited | 7.21% |
| Meesho Ltd | 5.42% |
| The Federal Bank Limited | 5.37% |
| Manipal Health Enterprises Ltd | 4.44% |
| Eternal Limited | 4.14% |
Largest holdings only in JM Mid Cap Fund
| Security | % of fund |
|---|---|
| One 97 Communications Limited | 3.60% |
| AVALON TECHNOLOGIES LIMITED | 3.08% |
| Mankind Pharma Limited | 2.89% |
| Godfrey Phillips India Limited | 2.86% |
| IDFC First Bank Limited | 2.84% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Mid cap | JM Mid Cap |
|---|---|---|
| Equity | 98.7% | 98.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.3% | 1.6% |
Market cap of stocks
| Market cap | Invesco India Mid cap | JM Mid Cap |
|---|---|---|
| Large Cap | 15.3% | 4.9% |
| Mid Cap | 61.0% | 67.6% |
| Small Cap | 17.9% | 24.4% |
| Not on AMFI's list | 4.6% | 1.5% |
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 | Invesco India Mid cap | JM Mid Cap |
|---|---|---|
| Healthcare Services | 17.2% | 0.0% |
| Retailing | 14.7% | 5.0% |
| Banks | 12.7% | 7.9% |
| Pharmaceuticals & Biotechnology | 7.0% | 12.4% |
| Auto Components | 5.0% | 10.1% |
| Electrical Equipment | 2.6% | 9.1% |
| Realty | 9.0% | 1.6% |
| Capital Markets | 4.2% | 8.7% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Mid cap vs JM Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Mid cap Fund | JM Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.77% | 0.96% |
| Base expense ratio (Direct) | 0.50% | 0.57% |
| Total expense ratio (Regular) | 1.87% | 2.47% |
| Base expense ratio (Regular) | 1.45% | 1.87% |
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 Invesco India Mid cap with
Invesco India Mid cap Fund vs JM Mid Cap Fund: Frequently Asked Questions
What is the difference between Invesco India Mid cap Fund and JM Mid Cap Fund?
Both are Mid Cap funds, run by Invesco Mutual Fund and JM Financial Mutual Fund. Their portfolios overlap 18.1%. Invesco India Mid cap Fund charges 0.77% a year and JM Mid Cap Fund 0.96%.
Which has given higher returns, Invesco India Mid cap Fund or JM Mid Cap Fund?
Over 1 year: Invesco India Mid cap Fund −0.48%, JM Mid Cap Fund −0.08%. Over 3 years: Invesco India Mid cap Fund +21.77% a year, JM Mid Cap Fund +17.31% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Mid cap Fund or JM Mid Cap Fund?
Invesco India Mid cap Fund charges less: 0.77% a year against 0.96%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Mid cap Fund and JM Mid Cap Fund overlap?
18.1%. They hold 14 of the same securities, the largest shared ones being GLENMARK, BHARATFORG, JKCEMENT. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Mid cap Fund or JM Mid Cap Fund?
On SEBI's riskometer, Invesco India Mid cap Fund is rated Very High and JM Mid Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.13% and 17.89% a year.
Which is better for SIP, Invesco India Mid cap Fund or JM Mid Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,41,716 in Invesco India Mid cap Fund (XIRR 11.6% a year) and ₹4,13,587 in JM Mid Cap Fund (XIRR 7.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Mid cap Fund and JM Mid Cap Fund?
Yes. 18.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Mid cap Fund and JM Mid Cap Fund?
Invesco India Mid cap Fund: Aditya Khemani. JM Mid Cap Fund: Satish Ramanathan, Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar.
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.