Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Kotak Nifty Midcap 50 ETF is an ETF fund and Mirae Asset Midcap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, Kotak Nifty Midcap 50 ETF returned 14.9% a year and Mirae Asset Midcap Fund (Direct) returned 14.3% a year. Kotak Nifty Midcap 50 ETF charges 0.35% a year and Mirae Asset Midcap Fund 0.96%. Their portfolios overlap 38.8%: they hold 22 of the same securities.
Kotak Nifty Midcap 50 ETF
ETF
- 3 year return
- 14.9%
- Expense ratio
- 0.35%
- NAV
- ₹16.88
Mirae Asset Midcap Fund
Mid Cap
- 3 year return
- 14.3%
- Expense ratio
- 0.96%
- NAV
- ₹40.22
Which is better, Kotak Nifty Midcap 50 ETF or Mirae Asset Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Nifty Midcap 50 ETF returned more over 3 years: 14.9% a year against 14.3%.
- Mirae Asset Midcap returned more over 1 year: −2.7% against −2.7%.
- Kotak Nifty Midcap 50 ETF costs less: 0.35% a year against 0.96%.
- Mirae Asset Midcap swung less over 3 years: a standard deviation of 16.0% a year against 18.0%.
- Kotak Nifty Midcap 50 ETF fell less in its worst fall since 04-02-2022: −20.3% against −22.5%.
- Mirae Asset Midcap is the larger fund: ₹19,539 Cr against ₹202 Cr.
- Their portfolios overlap 38.8%: 22 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 | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Mirae Asset Mutual Fund |
| Category | ETF | Mid Cap |
| AUM | ₹202 Cr (30-09-2026) | ₹19,539 Cr (30-09-2026) |
| NAV | ₹16.88 | ₹40.22 (Direct) |
| Expense ratio (Direct) | Not available | 0.96% |
| Expense ratio (Regular) | Not available | 2.01% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY Midcap 50 TRI | Nifty Midcap 150 TRI |
| Launch date | 28-01-2022 | 29-07-2019 |
| Minimum investment | Ongoing purchases directly from the Mutual Fund would be restricted to Authorized Participants and Large Investors provided the value of units to be purchased is in creation unit size. Authorised Participants and Large Investors may buy the units on any b | ₹5,000 |
| Lock in | None | None |
| Fund managers | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar | Ankit Jain |
| Exit load | Nil | I.For investors who have optedfor SWP under the plan: a)15% of the units allotted(including Switch-in/STP - in)on or before completion of 365days from the date of allotmentof units: Nil. b)Any redemption in excess ofsuch limits in the first 365 daysfrom the date of allotment shallbe subject to the following exitload: (Redemption of unitswould be done on First In FirstOut Basis (FIFO): -If redeemed within 1 year (365days) from the date of allotment:1% -If redeemed after 1 year (365days) from the date of allotment:NIL II.Other Redemptions: ForInvestors who have not opted forSWP under the plan (includingSwitch out, STP out): -If redeemed within 1 year (365days) from the date of allotment:1% -If redeemed after 1 year (365days) from the date of allotment:NIL |
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap: 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 |
|---|---|---|---|---|---|---|---|
| Kotak Nifty Midcap 50 ETF | −2.98% | −8.38% | −1.98% | −2.74% | +14.90% | -- | -- |
| Mirae Asset Midcap Fund (Direct) | −3.96% | −8.30% | −0.66% | −2.73% | +14.31% | +13.25% | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | +12.95% | -- |
Category average: the average of the 34 Mid Cap funds, same plan type.
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap: Year-wise Returns
| Year | Kotak Nifty Midcap 50 ETFKotak Nifty Midcap 50 ETF | Mirae Asset MidcapMirae Asset Midcap |
|---|---|---|
| 2026to date | −3.97% | −2.98% |
| 2025 | +8.41% | +10.01% |
| 2024 | +22.01% | +20.86% |
| 2023 | +50.83% | +36.04% |
| 2022 | -- | +6.18% |
| 2021 | -- | +50.60% |
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap: Rolling Returns
Every holding period of both funds, against Nifty Midcap 50 TRI, the benchmark of Kotak Nifty Midcap 50 ETF
Rolling returns
Every 3-year holding period, 428 of them, one for each trading day from 04-02-2025 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.
Kotak Nifty Midcap 50 ETF
Mirae Asset Midcap Fund (Direct)
Nifty Midcap 50 TRI
to
Mar 2025Jul 2022
to
Jul 2025Oct 2022
to
Oct 2025Feb 2023
to
Feb 2026May 2023
to
May 2026Sept 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak Nifty Midcap 50 ETF | 0.0 | 0.0 | 0.0 | 4.4 | 12.1 | 44.4 | 39.0 | 23.6% | 24.3% | 13.2% | 33.0% | 0% |
| Mirae Asset Midcap | 0.0 | 0.0 | 0.0 | 6.6 | 35.1 | 54.6 | 3.7 | 20.1% | 20.6% | 13.1% | 26.9% | 1% |
| Nifty Midcap 50 TRI | 0.0 | 0.0 | 0.0 | 4.2 | 11.9 | 40.0 | 43.9 | 23.9% | 24.6% | 13.4% | 33.5% | -- |
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 50 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 04-02-2022. Past returns do not promise future returns.
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap: 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 04-02-2022 to 30-10-2026: 57 instalments, ₹5,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Nifty Midcap 50 ETFKotak Nifty Midcap 50 ETF | ₹5,70,000 | ₹7,86,008 | ₹2,16,008 | 13.5% |
| Mirae Asset MidcapMirae Asset Midcap Fund (Direct) | ₹5,70,000 | ₹7,64,513 | ₹1,94,513 | 12.4% |
Kotak Nifty Midcap 50 ETFKotak Nifty Midcap 50 ETF
Mirae Asset MidcapMirae Asset Midcap 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.
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.74% | −2.73% |
| Standard deviation | 16.98% | 15.99% |
| Sharpe ratio | -0.47 | -0.50 |
| Sortino ratio | -0.63 | -0.66 |
| Maximum drawdown | −14.4% (30-03-2026) | −14.4% (31-03-2026) |
| Beta | 1.00 | 0.94 |
| Alpha | −0.18% | +1.10% |
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 | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.90% | +14.31% |
| Standard deviation | 17.95% | 15.99% |
| Sharpe ratio | 0.49 | 0.52 |
| Sortino ratio | 0.67 | 0.69 |
| Maximum drawdown | −20.3% (28-02-2025) | −22.5% (28-02-2025) |
| Beta | 1.00 | 0.91 |
| Alpha | −0.19% | +1.15% |
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 | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.91% | +21.29% |
| Standard deviation | 17.61% | 17.77% |
| Sharpe ratio | 0.57 | 0.91 |
| Sortino ratio | 0.77 | 1.20 |
| Maximum drawdown | −20.3% (28-02-2025) | −37.4% (23-03-2020) |
| Beta | 1.00 | 0.93 |
| Alpha | −0.36% | +1.71% |
From daily NAVs, 04-02-2022 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.
Kotak Nifty Midcap 50 ETF
Mirae Asset Midcap Fund (Direct)
Nifty Midcap 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Nifty Midcap 50 ETF | −20.3% | 24-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −10.7% |
| Mirae Asset Midcap Fund (Direct) | −22.5% | 01-10-2024 | 28-02-2025 | 16-09-2025 | 7 months | −10.8% |
| Nifty Midcap 50 TRI | −20.2% | 24-09-2024 | 28-02-2025 | 27-10-2025 | 8 months | −10.6% |
From daily values since 04-02-2022, 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.
Kotak Nifty Midcap 50 ETF
Mirae Asset Midcap Fund (Direct)
Nifty Midcap 50 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.
Kotak Nifty Midcap 50 ETF
Mirae Asset Midcap Fund (Direct)
Nifty Midcap 50 TRI
Against Nifty Midcap 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Nifty Midcap 50 ETF | 99% | 101% | 0.16% |
| Mirae Asset Midcap Fund (Direct) | 90% | 95% | 4.28% |
From month-end values since 04-02-2022. 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.
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Nifty Midcap 50 ETF, September 2026; Mirae Asset Midcap Fund, September 2026
Holdings in common
- Overlap
- 38.8%
- Held by both
- 22
- Only in Kotak Nifty Midcap 50 ETF
- 28
- Only in Mirae Asset Midcap
- 43
| Security | % of Kotak Nifty Midcap 50 ETF | % of Mirae Asset Midcap |
|---|---|---|
| Laurus Labs Ltd | 3.58% | 4.31% |
| Hero MotoCorp Ltd. | 3.16% | 2.89% |
| INDUSIND BANK LTD. | 2.76% | 2.69% |
| Persistent Systems Limited | 2.67% | 2.86% |
| Dixon Technologies India Ltd | 2.54% | 2.66% |
| Lupin Ltd. | 2.29% | 3.34% |
| BHARAT FORGE LTD. | 2.49% | 2.28% |
| FEDERAL BANK LTD. | 3.64% | 1.93% |
| One 97 Communications Ltd | 3.36% | 1.88% |
| SWIGGY LTD | 1.75% | 2.67% |
| PB Fintech Ltd. | 1.76% | 1.73% |
| Bharat Heavy Electricals Ltd. | 2.81% | 1.68% |
| FSN E-Commerce Ventures Ltd. | 2.04% | 1.51% |
| SRF LTD. | 1.67% | 1.39% |
| MANKIND PHARMA LTD | 1.32% | 1.83% |
| VISHAL MEGA MART LIMITED | 1.32% | 1.26% |
| Prestige Estates Projects Limited | 1.16% | 2.11% |
| PHOENIX MILLS LTD. | 1.68% | 1.00% |
| MULTI COMMODITY EXCHANGE OF INDIA LIMITED | 3.91% | 0.91% |
| Max Financial Services Ltd | 1.69% | 0.87% |
| HINDUSTAN PETROLEUM CORPORATION LTD. | 1.56% | 0.81% |
| Oil India Limited | 1.14% | 0.62% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.8% means 38.8% 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 Kotak Nifty Midcap 50 ETF
| Security | % of fund |
|---|---|
| INDIAN HOTELS CO LTD | 2.97% |
| AU SMALL FINANCE BANK LTD. | 2.73% |
| IDFC FIRST BANK LIMITED | 2.51% |
| GE VERNOVA T&D INDIA LIMITED | 2.42% |
| Indus Towers Ltd. | 2.23% |
Largest holdings only in Mirae Asset Midcap Fund
| Security | % of fund |
|---|---|
| Steel Authority of India Ltd. | 3.76% |
| HDB Financial Services Ltd. | 3.36% |
| Delhivery Ltd. | 3.01% |
| Dalmia Bharat Ltd. | 2.54% |
| Tata Communications Ltd. | 2.52% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap |
|---|---|---|
| Equity | 99.9% | 97.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | 2.4% |
Market cap of stocks
| Market cap | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap |
|---|---|---|
| Large Cap | 5.0% | 11.8% |
| Mid Cap | 94.9% | 67.9% |
| Small Cap | 0.0% | 15.6% |
| Not on AMFI's list | 0.0% | 2.2% |
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 | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap |
|---|---|---|
| Banks | 13.3% | 8.3% |
| Pharmaceuticals & Biotechnology | 0.0% | 11.5% |
| Pharmaceuticals and Biotechnology | 11.0% | 0.0% |
| Electrical Equipment | 8.5% | 1.7% |
| Consumer Durables | 3.7% | 7.8% |
| Retailing | 7.3% | 6.4% |
| Finance | 1.7% | 6.2% |
| Auto Components | 3.7% | 5.2% |
| Financial Technology (Fintech) | 5.1% | 3.6% |
| Capital Markets | 3.9% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Nifty Midcap 50 ETF | Mirae Asset Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.96% |
| Base expense ratio (Direct) | 0.00% | 0.53% |
| Total expense ratio (Regular) | Not available | 2.01% |
| Base expense ratio (Regular) | 0.21% | 1.42% |
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
Kotak Nifty Midcap 50 ETF vs Mirae Asset Midcap Fund: Frequently Asked Questions
What is the difference between Kotak Nifty Midcap 50 ETF and Mirae Asset Midcap Fund?
Kotak Nifty Midcap 50 ETF is an ETF fund, Mirae Asset Midcap Fund is a Mid Cap fund, run by Kotak Mahindra Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 38.8%. Kotak Nifty Midcap 50 ETF charges 0.35% a year and Mirae Asset Midcap Fund 0.96%.
Which has given higher returns, Kotak Nifty Midcap 50 ETF or Mirae Asset Midcap Fund?
Over 1 year: Kotak Nifty Midcap 50 ETF −2.74%, Mirae Asset Midcap Fund −2.73%. Over 3 years: Kotak Nifty Midcap 50 ETF +14.90% a year, Mirae Asset Midcap Fund +14.31% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Nifty Midcap 50 ETF or Mirae Asset Midcap Fund?
Kotak Nifty Midcap 50 ETF charges less: 0.35% a year against 0.96%. These are the total expense ratios reported to AMFI.
How much do Kotak Nifty Midcap 50 ETF and Mirae Asset Midcap Fund overlap?
38.8%. They hold 22 of the same securities, the largest shared ones being LAURUSLABS, HEROMOTOCO, INDUSINDBK. From each fund's latest monthly portfolio.
Which is riskier, Kotak Nifty Midcap 50 ETF or Mirae Asset Midcap Fund?
On SEBI's riskometer, Kotak Nifty Midcap 50 ETF is rated Very High and Mirae Asset Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.95% and 15.99% a year.
Which is better for SIP, Kotak Nifty Midcap 50 ETF or Mirae Asset Midcap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,00,261 in Kotak Nifty Midcap 50 ETF (XIRR 5.0% a year) and ₹4,06,537 in Mirae Asset Midcap Fund (XIRR 6.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Nifty Midcap 50 ETF and Mirae Asset Midcap Fund?
Yes. 38.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Nifty Midcap 50 ETF and Mirae Asset Midcap Fund?
Kotak Nifty Midcap 50 ETF: Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar. Mirae Asset Midcap Fund: Ankit Jain.
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.