Nippon India Growth Mid Cap Fund vs UTI Nifty Midcap 150 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Growth Mid Cap Fund is a Mid Cap fund and UTI Nifty Midcap 150 Index Fund is an Index fund. In the year to 30-10-2026, Nippon India Growth Mid Cap Fund (Direct) returned −8.9% and UTI Nifty Midcap 150 Index Fund (Direct) returned −4.8%. Nippon India Growth Mid Cap Fund charges 0.80% a year and UTI Nifty Midcap 150 Index Fund 0.72% (Direct plans). Their portfolios overlap 45.7%: they hold 63 of the same securities.
Nippon India Growth Mid Cap Fund
Mid Cap
- 1 year return
- −8.9%
- Expense ratio
- 0.80%
- NAV
- ₹178.86
UTI Nifty Midcap 150 Index Fund
Index
- 1 year return
- −4.8%
- Expense ratio
- 0.72%
- NAV
- ₹10.10
Which is better, Nippon India Growth Mid Cap or UTI 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.
- UTI Nifty Midcap 150 Index returned more over 1 year: −4.8% against −8.9%.
- UTI Nifty Midcap 150 Index costs less: 0.72% a year against 0.80% (Direct plans).
- UTI Nifty Midcap 150 Index fell less in its worst fall since 03-12-2024: −18.9% against −23.9%.
- Nippon India Growth Mid Cap holds more in large companies: 21.5% of the fund in large caps against 5.7%.
- Nippon India Growth Mid Cap is the larger fund: ₹50,176 Cr against ₹76 Cr.
- Their portfolios overlap 45.7%: 63 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 | Nippon India Growth Mid Cap Fund | UTI Nifty Midcap 150 Index Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | UTI Mutual Fund |
| Category | Mid Cap | Index |
| AUM | ₹50,176 Cr (30-09-2026) | ₹76 Cr (30-09-2026) |
| NAV | ₹178.86 (Direct) | ₹10.10 (Direct) |
| Expense ratio (Direct) | 0.80% | 0.72% |
| Expense ratio (Regular) | 1.56% | 1.15% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | Nifty Midcap 150 TRI |
| Launch date | 08-10-1995 | 28-11-2024 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Rupesh Patel FM 1 | Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3 |
| Exit load | 1% if redeemed or switched out on or before completion of 1 month from the date of allotment of units.Nil, thereafter. | Nil |
Nippon India Growth Mid Cap vs UTI 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Growth Mid Cap Fund (Direct) | −3.37% | −7.25% | −2.86% | −8.89% | +8.47% | +9.29% | +8.19% |
| UTI Nifty Midcap 150 Index Fund (Direct) | −3.72% | −8.56% | −4.16% | −4.82% | -- | -- | -- |
| 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.
Nippon India Growth Mid Cap vs UTI Nifty Midcap 150 Index: Year-wise Returns
| Year | Nippon India Growth Mid CapNippon India Growth Mid Cap | UTI Nifty Midcap 150 IndexUTI Nifty Midcap 150 Index | Nifty Midcap 150 TRI |
|---|---|---|---|
| 2026to date | −7.94% | −5.33% | −4.97% |
| 2025 | −3.20% | +5.39% | +5.98% |
| 2024 | +20.39% | -- | +24.46% |
| 2023 | +43.11% | -- | +44.61% |
| 2022 | +2.20% | -- | +3.91% |
| 2021 | +40.41% | -- | +48.16% |
Nippon India Growth Mid Cap vs UTI 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, 223 of them, one for each trading day from 03-12-2025 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.
Nippon India Growth Mid Cap Fund (Direct)
UTI Nifty Midcap 150 Index Fund (Direct)
Nifty Midcap 150 TRI
to
Dec 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nippon India Growth Mid Cap | 38.6 | 39.9 | 13.9 | 4.9 | 2.7 | 0.0 | 0.0 | 1.7% | 1.4% | −10.4% | 15.9% | 0% |
| UTI Nifty Midcap 150 Index | 6.3 | 25.6 | 35.9 | 21.5 | 9.0 | 1.8 | 0.0 | 7.7% | 7.2% | −6.0% | 21.1% | 0% |
| Nifty Midcap 150 TRI | 4.0 | 21.1 | 40.4 | 22.4 | 9.0 | 3.1 | 0.0 | 8.3% | 7.8% | −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 03-12-2024. Past returns do not promise future returns.
Nippon India Growth Mid Cap vs UTI 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 02-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Growth Mid CapNippon India Growth Mid Cap Fund (Direct) | ₹2,30,000 | ₹2,19,940 | −₹10,060 | −4.4% |
| UTI Nifty Midcap 150 IndexUTI Nifty Midcap 150 Index Fund (Direct) | ₹2,30,000 | ₹2,28,436 | −₹1,564 | −0.7% |
Nippon India Growth Mid CapNippon India Growth Mid Cap Fund (Direct)
UTI Nifty Midcap 150 IndexUTI 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.
Nippon India Growth Mid Cap vs UTI Nifty Midcap 150 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India Growth Mid Cap Fund (Direct) | UTI Nifty Midcap 150 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.89% | −4.82% |
| Standard deviation | 17.86% | 16.54% |
| Sharpe ratio | -0.79 | -0.61 |
| Sortino ratio | -1.00 | -0.81 |
| Maximum drawdown | −19.0% (31-03-2026) | −14.0% (31-03-2026) |
| Beta | 0.97 | 1.00 |
| Alpha | −4.81% | −0.46% |
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 | Nippon India Growth Mid Cap Fund (Direct) | UTI Nifty Midcap 150 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.87% | −0.52% |
| Standard deviation | 18.74% | 17.06% |
| Sharpe ratio | 0.15 | -0.36 |
| Sortino ratio | 0.19 | -0.48 |
| Maximum drawdown | −53.5% (03-04-2020) | −18.9% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.53% |
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.
Nippon India Growth Mid Cap Fund (Direct)
UTI 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 |
|---|---|---|---|---|---|---|
| Nippon India Growth Mid Cap Fund (Direct) | −23.9% | 16-12-2024 | 17-03-2025 | Not yet | -- | −14.0% |
| UTI Nifty Midcap 150 Index Fund (Direct) | −18.9% | 16-12-2024 | 28-02-2025 | 10-06-2025 | 3 months | −10.6% |
| Nifty Midcap 150 TRI | −18.9% | 16-12-2024 | 28-02-2025 | 09-06-2025 | 3 months | −10.5% |
From daily values since 03-12-2024, 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.
Nippon India Growth Mid Cap Fund (Direct)
UTI Nifty Midcap 150 Index Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India Growth Mid Cap Fund (Direct) | 83% | 106% | 8.03% |
| UTI Nifty Midcap 150 Index Fund (Direct) | 99% | 101% | 0.08% |
From month-end values since 03-12-2024. 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.
Nippon India Growth Mid Cap vs UTI Nifty Midcap 150 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Growth Mid Cap Fund, September 2026; UTI Nifty Midcap 150 Index Fund, September 2026
Holdings in common
- Overlap
- 45.7%
- Held by both
- 63
- Only in Nippon India Growth Mid Cap
- 37
- Only in UTI Nifty Midcap 150 Index
- 87
| Security | % of Nippon India Growth Mid Cap | % of UTI Nifty Midcap 150 Index |
|---|---|---|
| Multi Commodity Exchange of India Limited | 3.22% | 2.08% |
| The Federal Bank Limited | 2.59% | 1.93% |
| One 97 Communications Limited | 2.04% | 1.78% |
| AU Small Finance Bank Limited | 2.84% | 1.45% |
| Persistent Systems Limited | 1.73% | 1.42% |
| Bharat Heavy Electricals Limited | 1.41% | 1.49% |
| Bharat Forge Limited | 1.96% | 1.32% |
| GE Vernova T&D India Limited | 2.01% | 1.28% |
| The Indian Hotels Company Limited | 1.27% | 1.58% |
| Indus Towers Limited | 1.34% | 1.18% |
| Info Edge (India) Limited | 2.55% | 1.17% |
| Dixon Technologies (India) Limited | 1.10% | 1.35% |
| Ashok Leyland Limited | 1.14% | 1.09% |
| FSN E-Commerce Ventures Limited | 1.07% | 1.08% |
| Fortis Healthcare Limited | 2.53% | 0.99% |
| APL Apollo Tubes Limited | 1.27% | 0.98% |
| ICICI Lombard General Insurance Company Limited | 2.06% | 0.96% |
| REC Limited | 2.12% | 0.92% |
| Max Financial Services Limited | 1.34% | 0.90% |
| Lupin Limited | 0.89% | 1.22% |
| Radico Khaitan Limited | 0.95% | 0.84% |
| Swiggy Limited | 0.80% | 0.93% |
| Alkem Laboratories Limited | 1.27% | 0.77% |
| Shree Cement Limited | 1.20% | 0.74% |
| Sundaram Finance Limited | 0.84% | 0.74% |
| Mankind Pharma Limited | 1.95% | 0.70% |
| Indian Bank | 1.05% | 0.70% |
| Vishal Mega Mart Limited | 0.70% | 0.70% |
| IPCA Laboratories Limited | 1.19% | 0.65% |
| Tube Investments of India Limited | 1.26% | 0.63% |
| Prestige Estates Projects Limited | 1.10% | 0.62% |
| Voltas Limited | 1.47% | 0.60% |
| Torrent Power Limited | 0.87% | 0.58% |
| Page Industries Limited | 0.70% | 0.57% |
| Supreme Industries Limited | 0.96% | 0.55% |
| Mahindra & Mahindra Financial Services Limited | 0.68% | 0.53% |
| Piramal Finance Limited | 0.50% | 0.66% |
| Mphasis Limited | 0.50% | 0.70% |
| Blue Star Limited | 0.55% | 0.49% |
| Hindustan Petroleum Corporation Limited | 0.49% | 0.83% |
| Colgate Palmolive (India) Limited | 0.46% | 0.57% |
| ITC Hotels Limited | 0.54% | 0.45% |
| Gujarat Fluorochemicals Limited | 0.53% | 0.45% |
| Jubilant Foodworks Limited | 1.02% | 0.44% |
| LG Electronics India Ltd | 0.60% | 0.43% |
| Balkrishna Industries Limited | 0.82% | 0.42% |
| Coromandel International Limited | 0.42% | 0.51% |
| Astral Limited | 0.55% | 0.41% |
| Schaeffler India Limited | 0.70% | 0.39% |
| Container Corporation of India Limited | 0.47% | 0.38% |
| Bank of India | 0.38% | 0.39% |
| NMDC Limited | 0.34% | 0.65% |
| HDB Financial Services Limited | 0.87% | 0.33% |
| Dalmia Bharat Limited | 0.58% | 0.33% |
| JK Cement Limited | 0.31% | 0.52% |
| Apar Industries Limited | 0.30% | 0.80% |
| GlaxoSmithKline Pharmaceuticals Limited | 0.31% | 0.28% |
| NLC India Limited | 0.93% | 0.24% |
| Endurance Technologies Limited | 0.69% | 0.23% |
| Bajaj Housing Finance Limited | 0.31% | 0.22% |
| NTPC Green Energy Limited | 1.45% | 0.21% |
| United Breweries Limited | 0.57% | 0.21% |
| Tata Communications Limited | 0.19% | 0.48% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.7% means 45.7% 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 Nippon India Growth Mid Cap Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 2.42% |
| BSE Limited | 2.40% |
| Varun Beverages Limited | 1.94% |
| Samvardhana Motherson International Limited | 1.69% |
| Gland Pharma Limited | 1.62% |
Largest holdings only in UTI Nifty Midcap 150 Index Fund
| Security | % of fund |
|---|---|
| EQ - LAURUS LABS LTD. | 1.90% |
| EQ - HERO MOTOCORP LTD. | 1.68% |
| EQ - COFORGE LTD | 1.50% |
| EQ - INDUSIND BANK | 1.46% |
| EQ - IDFC FIRST BANK LTD | 1.33% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Growth Mid Cap | UTI Nifty Midcap 150 Index |
|---|---|---|
| Equity | 99.0% | 99.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 0.8% |
Market cap of stocks
| Market cap | Nippon India Growth Mid Cap | UTI Nifty Midcap 150 Index |
|---|---|---|
| Large Cap | 21.5% | 5.7% |
| Mid Cap | 65.9% | 90.9% |
| Small Cap | 11.5% | 2.5% |
| Not on AMFI's list | 0.1% | 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 | Nippon India Growth Mid Cap | UTI Nifty Midcap 150 Index |
|---|---|---|
| Banks | 10.0% | 8.7% |
| Pharmaceuticals & Biotechnology | 7.7% | 9.2% |
| Auto Components | 8.6% | 4.6% |
| Retailing | 8.4% | 5.6% |
| Finance | 8.0% | 6.8% |
| Capital Markets | 7.3% | 4.7% |
| Electrical Equipment | 5.1% | 6.0% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Growth Mid Cap vs UTI Nifty Midcap 150 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Growth Mid Cap Fund | UTI Nifty Midcap 150 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 0.72% |
| Base expense ratio (Direct) | 0.60% | 0.50% |
| Total expense ratio (Regular) | 1.56% | 1.15% |
| Base expense ratio (Regular) | 1.25% | 0.90% |
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
Nippon India Growth Mid Cap Fund vs UTI Nifty Midcap 150 Index Fund: Frequently Asked Questions
What is the difference between Nippon India Growth Mid Cap Fund and UTI Nifty Midcap 150 Index Fund?
Nippon India Growth Mid Cap Fund is a Mid Cap fund, UTI Nifty Midcap 150 Index Fund is an Index fund, run by Nippon India Mutual Fund and UTI Mutual Fund. Their portfolios overlap 45.7%. Nippon India Growth Mid Cap Fund charges 0.80% a year and UTI Nifty Midcap 150 Index Fund 0.72%.
Which has given higher returns, Nippon India Growth Mid Cap Fund or UTI Nifty Midcap 150 Index Fund?
Over 1 year: Nippon India Growth Mid Cap Fund −8.89%, UTI Nifty Midcap 150 Index Fund −4.82%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India Growth Mid Cap Fund or UTI Nifty Midcap 150 Index Fund?
UTI Nifty Midcap 150 Index Fund charges less: 0.72% a year against 0.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Growth Mid Cap Fund and UTI Nifty Midcap 150 Index Fund overlap?
45.7%. They hold 63 of the same securities, the largest shared ones being MCX, FEDERALBNK, PAYTM. From each fund's latest monthly portfolio.
Which is riskier, Nippon India Growth Mid Cap Fund or UTI Nifty Midcap 150 Index Fund?
On SEBI's riskometer, Nippon India Growth Mid Cap Fund is rated Very High and UTI Nifty Midcap 150 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 17.86% and 16.54% a year.
Can I invest in both Nippon India Growth Mid Cap Fund and UTI Nifty Midcap 150 Index Fund?
Yes. 45.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Nippon India Growth Mid Cap Fund and UTI Nifty Midcap 150 Index Fund?
Nippon India Growth Mid Cap Fund: Rupesh Patel FM 1. UTI Nifty Midcap 150 Index Fund: Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3.
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.