JM Mid Cap Fund vs Kotak Nifty Midcap 150 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Mid Cap Fund is a Mid Cap fund and Kotak Nifty Midcap 150 Index Fund is an Index fund. In the year to 30-10-2026, JM Mid Cap Fund (Direct) returned −0.1% and Kotak Nifty Midcap 150 Index Fund (Direct) returned −4.8%. JM Mid Cap Fund charges 0.96% a year and Kotak Nifty Midcap 150 Index Fund 0.42% (Direct plans). Their portfolios overlap 34.7%: they hold 43 of the same securities.
Kotak Nifty Midcap 150 Index Fund
Index
- 1 year return
- −4.8%
- Expense ratio
- 0.42%
- NAV
- ₹10.83
Which is better, JM Mid Cap or Kotak 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.
- JM Mid Cap returned more over 1 year: −0.1% against −4.8%.
- Kotak Nifty Midcap 150 Index costs less: 0.42% a year against 0.96% (Direct plans).
- Kotak Nifty Midcap 150 Index fell less in its worst fall since 28-03-2025: −14.0% against −15.4%.
- JM Mid Cap is the larger fund: ₹1,303 Cr against ₹46 Cr.
- Their portfolios overlap 34.7%: 43 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 | JM Mid Cap Fund | Kotak Nifty Midcap 150 Index Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Mid Cap | Index |
| AUM | ₹1,303 Cr (30-09-2026) | ₹46 Cr (30-09-2026) |
| NAV | ₹20.79 (Direct) | ₹10.83 (Direct) |
| Expense ratio (Direct) | 0.96% | 0.42% |
| Expense ratio (Regular) | 2.47% | 0.90% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | Nifty Midcap 150 TRI |
| Launch date | 21-11-2022 | 21-03-2025 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Satish Ramanathan, Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar | Satish DondapatiFM 2 Mr. Abhishek Bisen, Jeetu Valechha Sonar |
| 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 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. | Nil |
JM Mid Cap vs Kotak 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 |
|---|---|---|---|---|---|---|---|
| JM Mid Cap Fund (Direct) | −5.08% | −5.86% | +3.24% | −0.08% | +17.31% | -- | -- |
| Kotak Nifty Midcap 150 Index Fund (Direct) | −3.71% | −8.51% | −4.06% | −4.75% | -- | -- | -- |
| 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.
JM Mid Cap vs Kotak Nifty Midcap 150 Index: Year-wise Returns
| Year | JM Mid CapJM Mid Cap | Kotak Nifty Midcap 150 IndexKotak Nifty Midcap 150 Index | Nifty Midcap 150 TRI |
|---|---|---|---|
| 2026to date | +3.57% | −5.26% | −4.97% |
| 2025 | −1.16% | -- | +5.98% |
| 2024 | +37.77% | -- | +24.46% |
| 2023 | +47.33% | -- | +44.61% |
JM Mid Cap vs Kotak Nifty Midcap 150 Index: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 145 of them, one for each trading day from 30-03-2026 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.
JM Mid Cap Fund (Direct)
Kotak Nifty Midcap 150 Index Fund (Direct)
Nifty Midcap 150 TRI
to
Apr 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Mid Cap | 4.8 | 7.6 | 49.7 | 29.7 | 8.3 | 0.0 | 0.0 | 9.2% | 9.2% | −2.9% | 17.4% | 79% |
| Kotak Nifty Midcap 150 Index | 8.3 | 27.6 | 38.6 | 24.1 | 1.4 | 0.0 | 0.0 | 6.7% | 6.7% | −5.9% | 16.4% | 0% |
| Nifty Midcap 150 TRI | 6.2 | 21.4 | 44.8 | 23.4 | 4.1 | 0.0 | 0.0 | 7.3% | 7.3% | −5.5% | 17.3% | -- |
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 28-03-2025. Past returns do not promise future returns.
JM Mid Cap vs Kotak Nifty Midcap 150 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 03-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Mid CapJM Mid Cap Fund (Direct) | ₹2,00,000 | ₹2,08,853 | ₹8,853 | 5.1% |
| Kotak Nifty Midcap 150 IndexKotak Nifty Midcap 150 Index Fund (Direct) | ₹2,00,000 | ₹1,96,859 | −₹3,141 | −1.8% |
JM Mid CapJM Mid Cap Fund (Direct)
Kotak Nifty Midcap 150 IndexKotak Nifty Midcap 150 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.
JM Mid Cap vs Kotak Nifty Midcap 150 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Mid Cap Fund (Direct) | Kotak Nifty Midcap 150 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.08% | −4.75% |
| Standard deviation | 18.23% | 16.53% |
| Sharpe ratio | -0.29 | -0.60 |
| Sortino ratio | -0.40 | -0.81 |
| Maximum drawdown | −15.2% (23-03-2026) | −14.0% (30-03-2026) |
| Beta | 1.06 | 1.00 |
| Alpha | +4.83% | −0.39% |
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 | JM Mid Cap Fund (Direct) | Kotak Nifty Midcap 150 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.35% | +5.59% |
| Standard deviation | 16.62% | 16.28% |
| Sharpe ratio | 0.85 | 0.01 |
| Sortino ratio | 1.15 | 0.02 |
| Maximum drawdown | −22.5% (28-02-2025) | −14.0% (30-03-2026) |
| Beta | 0.99 | 1.00 |
| Alpha | +4.21% | −1.34% |
From daily NAVs, 25-11-2022 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.
JM Mid Cap Fund (Direct)
Kotak 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 |
|---|---|---|---|---|---|---|
| JM Mid Cap Fund (Direct) | −15.4% | 28-10-2025 | 23-03-2026 | 06-05-2026 | 44 days | −10.1% |
| Kotak Nifty Midcap 150 Index Fund (Direct) | −14.0% | 07-01-2026 | 30-03-2026 | 07-05-2026 | 38 days | −10.5% |
| Nifty Midcap 150 TRI | −13.9% | 07-01-2026 | 30-03-2026 | 07-05-2026 | 38 days | −10.5% |
From daily values since 28-03-2025, 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.
JM Mid Cap Fund (Direct)
Kotak Nifty Midcap 150 Index Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM Mid Cap Fund (Direct) | 105% | 96% | 5.87% |
| Kotak Nifty Midcap 150 Index Fund (Direct) | 96% | 101% | 1.00% |
From month-end values since 28-03-2025. 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.
JM Mid Cap vs Kotak Nifty Midcap 150 Index: Portfolio Overlap
From each fund's latest monthly portfolio: JM Mid Cap Fund, September 2026; Kotak Nifty Midcap 150 Index Fund, September 2026
Holdings in common
- Overlap
- 34.7%
- Held by both
- 43
- Only in JM Mid Cap
- 29
- Only in Kotak Nifty Midcap 150 Index
- 107
| Security | % of JM Mid Cap | % of Kotak Nifty Midcap 150 Index |
|---|---|---|
| Multi Commodity Exchange of India Ltd. | 2.28% | 2.09% |
| One 97 Communications Limited | 3.60% | 1.80% |
| Bharat Heavy Electricals Limited | 1.50% | 1.51% |
| AU Small Finance Bank Limited | 1.43% | 1.46% |
| Dixon Technologies (India) Limited | 1.47% | 1.36% |
| IDFC First Bank Limited | 2.84% | 1.35% |
| Bharat Forge Limited | 2.24% | 1.33% |
| Lenskart Solutions Limited | 2.21% | 1.25% |
| Aurobindo Pharma Limited | 1.85% | 1.15% |
| Ashok Leyland Limited | 2.27% | 1.10% |
| Marico Limited | 2.74% | 1.04% |
| Hero MotoCorp Limited | 1.01% | 1.69% |
| FSN E-Commerce Ventures Limited | 0.98% | 1.09% |
| The Indian Hotels Company Limited | 0.95% | 1.59% |
| SRF Limited | 1.61% | 0.89% |
| Glenmark Pharmaceuticals Limited | 2.66% | 0.87% |
| Radico Khaitan Limited | 1.51% | 0.85% |
| APAR INDUSTRIES LTD | 1.18% | 0.80% |
| Alkem Laboratories Limited | 0.99% | 0.77% |
| PB Fintech Limited | 0.74% | 0.94% |
| National Aluminium Company Limited | 0.73% | 0.76% |
| Mankind Pharma Limited | 2.89% | 0.71% |
| MphasiS Limited | 1.66% | 0.71% |
| 360 ONE WAM LIMITED | 1.58% | 0.67% |
| Piramal Finance Ltd | 1.11% | 0.66% |
| Billionbrains Garage Ventures Ltd. | 1.41% | 0.65% |
| TUBE INVESTMENTS OF INDIA LTD | 2.20% | 0.63% |
| Prestige Estates Projects Limited | 1.02% | 0.62% |
| SWIGGY LIMITED | 0.58% | 0.93% |
| WAAREE ENERGIES LIMITED | 1.08% | 0.57% |
| JK Cement Limited | 1.81% | 0.53% |
| Mahindra & Mahindra Financial Serv Ltd. | 0.82% | 0.53% |
| JSW Infrastructure Limited | 0.49% | 0.53% |
| Exide Industries Limited | 0.84% | 0.47% |
| Hindustan Petroleum Corporation Limited | 0.42% | 0.84% |
| Bank of Maharashtra | 2.81% | 0.40% |
| Motilal Oswal Financial Services Limited | 2.28% | 0.39% |
| Coromandel International Limited | 0.38% | 0.52% |
| Thermax Limited | 1.22% | 0.33% |
| Linde India Limited | 0.73% | 0.33% |
| Endurance Technologies Limited | 1.71% | 0.23% |
| Housing and Urban Development Corp. Ltd. | 0.58% | 0.21% |
| Godfrey Phillips India Limited | 2.86% | 0.19% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.7% means 34.7% 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 JM Mid Cap Fund
| Security | % of fund |
|---|---|
| AVALON TECHNOLOGIES LIMITED | 3.08% |
| Sona BLW Precision Forgings Limited | 2.39% |
| Acutaas Chemicals Limited | 2.28% |
| SYRMA SGS TECHNOLOGY LIMITED | 2.19% |
| Poonawalla Fincorp Limited | 1.70% |
Largest holdings only in Kotak Nifty Midcap 150 Index Fund
| Security | % of fund |
|---|---|
| FEDERAL BANK LTD. | 1.95% |
| Laurus Labs Ltd | 1.92% |
| Coforge Limited | 1.52% |
| INDUSIND BANK LTD. | 1.48% |
| Persistent Systems Limited | 1.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Mid Cap | Kotak Nifty Midcap 150 Index |
|---|---|---|
| Equity | 98.4% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.6% | -0.1% |
Market cap of stocks
| Market cap | JM Mid Cap | Kotak Nifty Midcap 150 Index |
|---|---|---|
| Large Cap | 4.9% | 5.8% |
| Mid Cap | 67.6% | 91.7% |
| Small Cap | 24.4% | 2.6% |
| Not on AMFI's list | 1.5% | 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 | JM Mid Cap | Kotak Nifty Midcap 150 Index |
|---|---|---|
| Pharmaceuticals & Biotechnology | 12.4% | 0.0% |
| Auto Components | 10.1% | 4.6% |
| Pharmaceuticals and Biotechnology | 0.0% | 9.2% |
| Electrical Equipment | 9.1% | 6.0% |
| Banks | 7.9% | 8.8% |
| Capital Markets | 8.7% | 4.7% |
| Finance | 4.2% | 6.9% |
| Retailing | 5.0% | 5.7% |
The six largest sectors of each fund's stocks, % of the fund.
JM Mid Cap vs Kotak Nifty Midcap 150 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Mid Cap Fund | Kotak Nifty Midcap 150 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.96% | 0.42% |
| Base expense ratio (Direct) | 0.57% | 0.13% |
| Total expense ratio (Regular) | 2.47% | 0.90% |
| Base expense ratio (Regular) | 1.87% | 0.53% |
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
JM Mid Cap Fund vs Kotak Nifty Midcap 150 Index Fund: Frequently Asked Questions
What is the difference between JM Mid Cap Fund and Kotak Nifty Midcap 150 Index Fund?
JM Mid Cap Fund is a Mid Cap fund, Kotak Nifty Midcap 150 Index Fund is an Index fund, run by JM Financial Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 34.7%. JM Mid Cap Fund charges 0.96% a year and Kotak Nifty Midcap 150 Index Fund 0.42%.
Which has given higher returns, JM Mid Cap Fund or Kotak Nifty Midcap 150 Index Fund?
Over 1 year: JM Mid Cap Fund −0.08%, Kotak Nifty Midcap 150 Index Fund −4.75%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Mid Cap Fund or Kotak Nifty Midcap 150 Index Fund?
Kotak Nifty Midcap 150 Index Fund charges less: 0.42% a year against 0.96%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Mid Cap Fund and Kotak Nifty Midcap 150 Index Fund overlap?
34.7%. They hold 43 of the same securities, the largest shared ones being MCX, PAYTM, BHEL. From each fund's latest monthly portfolio.
Which is riskier, JM Mid Cap Fund or Kotak Nifty Midcap 150 Index Fund?
On SEBI's riskometer, JM Mid Cap Fund is rated Very High and Kotak Nifty Midcap 150 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 18.23% and 16.53% a year.
Can I invest in both JM Mid Cap Fund and Kotak Nifty Midcap 150 Index Fund?
Yes. 34.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Mid Cap Fund and Kotak Nifty Midcap 150 Index Fund?
JM Mid Cap Fund: Satish Ramanathan, Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar. Kotak Nifty Midcap 150 Index Fund: Satish DondapatiFM 2 Mr. 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.