Mirae Asset Midcap Fund vs SBI Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Midcap Fund and SBI Midcap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, Mirae Asset Midcap Fund (Direct) returned 14.3% a year and SBI Midcap Fund (Direct) returned 8.9% a year. Mirae Asset Midcap Fund charges 0.96% a year and SBI Midcap Fund 1.03% (Direct plans). Their portfolios overlap 22.6%: they hold 15 of the same securities.
Mirae Asset Midcap Fund
Mid Cap
- 3 year return
- 14.3%
- Expense ratio
- 0.96%
- NAV
- ₹40.22
Which is better, Mirae Asset Midcap or SBI Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Midcap returned more over 5 years: 13.3% a year against 11.2%.
- Mirae Asset Midcap returned more over 3 years: 14.3% a year against 8.9%.
- Mirae Asset Midcap costs less: 0.96% a year against 1.03% (Direct plans).
- SBI Midcap swung less over 3 years: a standard deviation of 13.5% a year against 16.0%.
- SBI Midcap fell less in its worst fall since 30-07-2019: −36.7% against −37.4%.
- SBI Midcap is the larger fund: ₹23,282 Cr against ₹19,539 Cr.
- Their portfolios overlap 22.6%: 15 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 | Mirae Asset Midcap Fund | SBI Midcap Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | SBI Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹19,539 Cr (30-09-2026) | ₹23,282 Cr (30-09-2026) |
| NAV | ₹40.22 (Direct) | ₹249.78 (Direct) |
| Expense ratio (Direct) | 0.96% | 1.03% |
| Expense ratio (Regular) | 2.01% | 1.81% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | Nifty Midcap 150 TRI |
| Launch date | 29-07-2019 | 29-03-2005 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Ankit Jain | Bhavin Vithlani |
| Exit load | 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 | Exit load of 0.25% if redeemed within 30 days and 0.10% if redeemed after 30 days but on or before 90 days. |
Mirae Asset Midcap vs SBI 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Midcap Fund (Direct) | −3.96% | −8.30% | −0.66% | −2.73% | +14.31% | +13.25% | -- |
| SBI Midcap Fund (Direct) | −4.57% | −8.85% | −5.14% | −5.01% | +8.94% | +11.17% | +12.82% |
| 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.
Mirae Asset Midcap vs SBI Midcap: Year-wise Returns
| Year | Mirae AssetMirae Asset Midcap | SBISBI Midcap | Nifty Midcap 150 TRI |
|---|---|---|---|
| 2026to date | −2.98% | −5.94% | −4.97% |
| 2025 | +10.01% | +1.20% | +5.98% |
| 2024 | +20.86% | +21.41% | +24.46% |
| 2023 | +36.04% | +35.67% | +44.61% |
| 2022 | +6.18% | +3.95% | +3.91% |
| 2021 | +50.60% | +53.63% | +48.16% |
Mirae Asset Midcap vs SBI Midcap: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,044 of them, one for each trading day from 01-08-2022 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.
Mirae Asset Midcap Fund (Direct)
SBI Midcap Fund (Direct)
Nifty Midcap 150 TRI
to
Dec 2022Aug 2020
to
Aug 2023May 2021
to
May 2024Feb 2022
to
Feb 2025Oct 2022
to
Oct 2025Jun 2023
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Midcap | 0.0 | 0.0 | 0.0 | 2.7 | 18.2 | 39.2 | 39.9 | 24.6% | 23.5% | 13.1% | 41.7% | 32% |
| SBI Midcap | 0.0 | 0.0 | 2.2 | 9.0 | 28.0 | 20.5 | 40.3 | 23.9% | 23.8% | 8.1% | 43.2% | 31% |
| Nifty Midcap 150 TRI | 0.0 | 0.0 | 0.0 | 2.6 | 7.5 | 38.2 | 51.7 | 25.8% | 25.3% | 12.7% | 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 30-07-2019. Past returns do not promise future returns.
Mirae Asset Midcap vs SBI 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 30-07-2019 to 30-10-2026: 88 instalments, ₹8,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset MidcapMirae Asset Midcap Fund (Direct) | ₹8,80,000 | ₹17,34,054 | ₹8,54,054 | 18.1% |
| SBI MidcapSBI Midcap Fund (Direct) | ₹8,80,000 | ₹15,51,133 | ₹6,71,133 | 15.2% |
Mirae Asset MidcapMirae Asset Midcap Fund (Direct)
SBI MidcapSBI 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.
Mirae Asset Midcap vs SBI Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Midcap Fund (Direct) | SBI Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.73% | −5.01% |
| Standard deviation | 15.99% | 14.45% |
| Sharpe ratio | -0.50 | -0.71 |
| Sortino ratio | -0.66 | -0.93 |
| Maximum drawdown | −14.4% (31-03-2026) | −13.1% (31-03-2026) |
| Beta | 0.94 | 0.84 |
| Alpha | +1.10% | −2.20% |
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 | Mirae Asset Midcap Fund (Direct) | SBI Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.31% | +8.94% |
| Standard deviation | 15.99% | 13.45% |
| Sharpe ratio | 0.52 | 0.22 |
| Sortino ratio | 0.69 | 0.29 |
| Maximum drawdown | −22.5% (28-02-2025) | −17.9% (28-02-2025) |
| Beta | 0.91 | 0.74 |
| Alpha | +1.15% | −2.89% |
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 | Mirae Asset Midcap Fund (Direct) | SBI Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.25% | +11.17% |
| Standard deviation | 15.42% | 13.78% |
| Sharpe ratio | 0.48 | 0.39 |
| Sortino ratio | 0.64 | 0.52 |
| Maximum drawdown | −22.5% (28-02-2025) | −17.9% (28-02-2025) |
| Beta | 0.90 | 0.77 |
| Alpha | +0.24% | −0.85% |
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 | Mirae Asset Midcap Fund (Direct) | SBI Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.29% | +17.15% |
| Standard deviation | 17.77% | 14.97% |
| Sharpe ratio | 0.91 | 0.74 |
| Sortino ratio | 1.20 | 0.99 |
| Maximum drawdown | −37.4% (23-03-2020) | −43.0% (24-03-2020) |
| Beta | 0.93 | -- |
| Alpha | +1.71% | -- |
From daily NAVs, 30-07-2019 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.
Mirae Asset Midcap Fund (Direct)
SBI Midcap 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 |
|---|---|---|---|---|---|---|
| Mirae Asset Midcap Fund (Direct) | −37.4% | 20-02-2020 | 23-03-2020 | 22-10-2020 | 7 months | −10.8% |
| SBI Midcap Fund (Direct) | −36.7% | 07-02-2020 | 24-03-2020 | 06-11-2020 | 7 months | −10.6% |
| Nifty Midcap 150 TRI | −38.5% | 07-02-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.5% |
From daily values since 30-07-2019, 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.
Mirae Asset Midcap Fund (Direct)
SBI Midcap 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.
Mirae Asset Midcap Fund (Direct)
SBI Midcap 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.
Mirae Asset Midcap Fund (Direct)
SBI Midcap Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Midcap Fund (Direct) | 98% | 94% | 4.34% |
| SBI Midcap Fund (Direct) | 89% | 83% | 5.61% |
From month-end values since 30-07-2019. 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.
Mirae Asset Midcap vs SBI Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Midcap Fund, September 2026; SBI Midcap Fund, September 2026
Holdings in common
- Overlap
- 22.6%
- Held by both
- 15
- Only in Mirae Asset Midcap
- 50
- Only in SBI Midcap
- 42
| Security | % of Mirae Asset Midcap | % of SBI Midcap |
|---|---|---|
| Bharat Forge Ltd. | 2.28% | 2.23% |
| The Federal Bank Ltd. | 1.93% | 2.45% |
| Swiggy Ltd. | 2.67% | 1.93% |
| HDB Financial Services Ltd. | 3.36% | 1.87% |
| Lupin Ltd. | 3.34% | 1.83% |
| Bharat Heavy Electricals Ltd. | 1.68% | 2.68% |
| Dalmia Bharat Ltd. | 2.54% | 1.66% |
| FSN E-Commerce Ventures Ltd. | 1.51% | 2.47% |
| PI Industries Ltd. | 1.64% | 1.49% |
| SRF Ltd. | 1.39% | 2.87% |
| Billionbrains Garage Ventures Ltd. | 1.27% | 1.10% |
| Schaeffler India Ltd. | 1.05% | 1.51% |
| The Phoenix Mills Ltd. | 1.00% | 1.66% |
| One 97 Communications Ltd. | 1.88% | 0.99% |
| Multi Commodity Exchange of India Ltd. | 0.91% | 3.12% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.6% means 22.6% 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 Mirae Asset Midcap Fund
| Security | % of fund |
|---|---|
| Laurus Labs Ltd. | 4.31% |
| Steel Authority of India Ltd. | 3.76% |
| Delhivery Ltd. | 3.01% |
| Hero MotoCorp Ltd. | 2.89% |
| Persistent Systems Ltd. | 2.86% |
Largest holdings only in SBI Midcap Fund
| Security | % of fund |
|---|---|
| Torrent Power Ltd. | 3.48% |
| Supreme Industries Ltd. | 2.96% |
| CRISIL Ltd. | 2.87% |
| ICICI Lombard General Insurance Company Ltd. | 2.73% |
| Sundaram Finance Ltd. | 2.61% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Midcap | SBI Midcap |
|---|---|---|
| Equity | 97.6% | 97.0% |
| Debt | 0.0% | 0.8% |
| Cash and others | 2.4% | 2.2% |
Market cap of stocks
| Market cap | Mirae Asset Midcap | SBI Midcap |
|---|---|---|
| Large Cap | 11.8% | 12.4% |
| Mid Cap | 67.9% | 67.1% |
| Small Cap | 15.6% | 17.6% |
| Not on AMFI's list | 2.2% | 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 | Mirae Asset Midcap | SBI Midcap |
|---|---|---|
| Pharmaceuticals & Biotechnology | 11.5% | 9.5% |
| Finance | 6.2% | 8.4% |
| Banks | 8.3% | 2.5% |
| Industrial Products | 1.7% | 7.8% |
| Consumer Durables | 7.8% | 2.2% |
| Auto Components | 5.2% | 7.5% |
| Retailing | 6.4% | 6.8% |
| Power | 1.5% | 6.2% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Midcap vs SBI Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Midcap Fund | SBI Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.96% | 1.03% |
| Base expense ratio (Direct) | 0.53% | 0.73% |
| Total expense ratio (Regular) | 2.01% | 1.81% |
| Base expense ratio (Regular) | 1.42% | 1.40% |
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 Mirae Asset Midcap with
Mirae Asset Midcap Fund vs SBI Midcap Fund: Frequently Asked Questions
What is the difference between Mirae Asset Midcap Fund and SBI Midcap Fund?
Both are Mid Cap funds, run by Mirae Asset Mutual Fund and SBI Mutual Fund. Their portfolios overlap 22.6%. Mirae Asset Midcap Fund charges 0.96% a year and SBI Midcap Fund 1.03%.
Which has given higher returns, Mirae Asset Midcap Fund or SBI Midcap Fund?
Over 1 year: Mirae Asset Midcap Fund −2.73%, SBI Midcap Fund −5.01%. Over 3 years: Mirae Asset Midcap Fund +14.31% a year, SBI Midcap Fund +8.94% a year. Over 5 years: Mirae Asset Midcap Fund +13.25% a year, SBI Midcap Fund +11.17% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Midcap Fund or SBI Midcap Fund?
Mirae Asset Midcap Fund charges less: 0.96% a year against 1.03%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Midcap Fund and SBI Midcap Fund overlap?
22.6%. They hold 15 of the same securities, the largest shared ones being BHARATFORG, FEDERALBNK, SWIGGY. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Midcap Fund or SBI Midcap Fund?
On SEBI's riskometer, Mirae Asset Midcap Fund is rated Very High and SBI Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.99% and 13.45% a year.
Which is better for SIP, Mirae Asset Midcap Fund or SBI Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,39,019 in Mirae Asset Midcap Fund (XIRR 12.5% a year) and ₹7,49,553 in SBI Midcap Fund (XIRR 8.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Midcap Fund and SBI Midcap Fund?
Yes. 22.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Mirae Asset Midcap Fund and SBI Midcap Fund?
Mirae Asset Midcap Fund: Ankit Jain. SBI Midcap Fund: Bhavin Vithlani.
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.