Sundaram Mid Cap Fund vs Union Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Sundaram Mid Cap Fund and Union Midcap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, Sundaram Mid Cap Fund (Direct) returned 16.4% a year and Union Midcap Fund (Direct) returned 15.6% a year. Sundaram Mid Cap Fund charges 1.06% a year and Union Midcap Fund 1.08% (Direct plans). Their portfolios overlap 40.5%: they hold 38 of the same securities.
Sundaram Mid Cap Fund
Mid Cap
- 3 year return
- 16.4%
- Expense ratio
- 1.06%
- NAV
- ₹1,508.12
Which is better, Sundaram Mid Cap or Union Midcap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Sundaram Mid Cap returned more over 5 years: 15.1% a year against 13.8%.
- Sundaram Mid Cap returned more over 3 years: 16.4% a year against 15.6%.
- Sundaram Mid Cap costs less: 1.06% a year against 1.08% (Direct plans).
- Sundaram Mid Cap swung less over 3 years: a standard deviation of 15.8% a year against 16.8%.
- Sundaram Mid Cap fell less in its worst fall since 30-03-2020: −20.7% against −21.3%.
- Sundaram Mid Cap is the larger fund: ₹13,854 Cr against ₹1,906 Cr.
- Their portfolios overlap 40.5%: 38 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 | Sundaram Mid Cap Fund | Union Midcap Fund |
|---|---|---|
| Fund house | Sundaram Mutual Fund | Union Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹13,854 Cr (30-09-2026) | ₹1,906 Cr (30-09-2026) |
| NAV | ₹1,508.12 (Direct) | ₹53.40 (Direct) |
| Expense ratio (Direct) | 1.06% | 1.08% |
| Expense ratio (Regular) | 1.87% | 2.39% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | BSE Midcap 150 TRI |
| Launch date | 01-07-2002 | 23-03-2020 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | S Bharath, Shalav Saket | Gaurav Chopra, Pratik Dharmshi |
| Exit load | Nil - If up to 25% of the units invested are redeemed or withdrawn by way of SWP within 365 days from the date of allotment. Any redemptions or withdrawals by way of SWP in excess of the above mentioned limit would be subject to an exit load of 1 %, if the units are redeemed within 365 days from the date of allotment of units. Further, exit load will be waived on Intra-scheme and Inter scheme Switch-outs/STP. | Exit load of 1%, if redeemed within 15 days. |
Sundaram Mid Cap vs Union 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 |
|---|---|---|---|---|---|---|---|
| Sundaram Mid Cap Fund (Direct) | −3.35% | −9.04% | −3.11% | −4.58% | +16.41% | +15.07% | +13.18% |
| Union Midcap Fund (Direct) | −2.89% | −4.59% | +1.33% | +0.66% | +15.60% | +13.79% | -- |
| 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.
Sundaram Mid Cap vs Union Midcap: Year-wise Returns
| Year | Sundaram Mid CapSundaram Mid Cap | Union MidcapUnion Midcap |
|---|---|---|
| 2026to date | −4.19% | +1.41% |
| 2025 | +4.96% | +3.68% |
| 2024 | +33.13% | +30.50% |
| 2023 | +41.52% | +34.21% |
| 2022 | +5.82% | −0.82% |
| 2021 | +38.60% | +53.98% |
Sundaram Mid Cap vs Union Midcap: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of Sundaram Mid Cap Fund
Rolling returns
Every 3-year holding period, 880 of them, one for each trading day from 31-03-2023 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.
Sundaram Mid Cap Fund (Direct)
Union Midcap Fund (Direct)
Nifty Midcap 150 TRI
to
Jul 2023Feb 2021
to
Feb 2024Sept 2021
to
Sept 2024May 2022
to
May 2025Dec 2022
to
Dec 2025Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sundaram Mid Cap | 0.0 | 0.0 | 0.0 | 0.0 | 4.9 | 33.6 | 61.5 | 25.7% | 25.9% | 15.4% | 32.7% | 61% |
| Union Midcap | 0.0 | 0.0 | 0.0 | 0.6 | 24.3 | 41.5 | 33.6 | 23.9% | 22.7% | 14.2% | 39.7% | 14% |
| Nifty Midcap 150 TRI | 0.0 | 0.0 | 0.0 | 3.1 | 8.9 | 39.0 | 49.1 | 25.8% | 24.8% | 12.7% | 39.4% | -- |
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 30-03-2020. Past returns do not promise future returns.
Sundaram Mid Cap vs Union 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 02-03-2020 to 30-10-2026: 80 instalments, ₹8,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Sundaram Mid CapSundaram Mid Cap Fund (Direct) | ₹8,00,000 | ₹14,43,280 | ₹6,43,280 | 17.5% |
| Union MidcapUnion Midcap Fund (Direct) | ₹8,00,000 | ₹14,77,594 | ₹6,77,594 | 18.2% |
Sundaram Mid CapSundaram Mid Cap Fund (Direct)
Union MidcapUnion 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.
Sundaram Mid Cap vs Union Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Sundaram Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.58% | +0.66% |
| Standard deviation | 15.88% | 16.64% |
| Sharpe ratio | -0.62 | -0.28 |
| Sortino ratio | -0.84 | -0.37 |
| Maximum drawdown | −13.1% (23-10-2026) | −12.1% (23-10-2026) |
| Beta | 0.94 | 0.99 |
| Alpha | −0.77% | +5.74% |
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 | Sundaram Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.41% | +15.60% |
| Standard deviation | 15.80% | 16.83% |
| Sharpe ratio | 0.66 | 0.57 |
| Sortino ratio | 0.89 | 0.76 |
| Maximum drawdown | −20.7% (28-02-2025) | −21.3% (28-02-2025) |
| Beta | 0.91 | 0.96 |
| Alpha | +3.32% | +2.40% |
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 | Sundaram Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.07% | +13.79% |
| Standard deviation | 15.57% | 15.87% |
| Sharpe ratio | 0.60 | 0.50 |
| Sortino ratio | 0.80 | 0.67 |
| Maximum drawdown | −20.7% (28-02-2025) | −21.3% (28-02-2025) |
| Beta | 0.91 | 0.92 |
| Alpha | +1.95% | +1.25% |
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 | Sundaram Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.92% | +28.22% |
| Standard deviation | 16.29% | 16.03% |
| Sharpe ratio | 0.67 | 1.44 |
| Sortino ratio | 0.89 | 1.99 |
| Maximum drawdown | −44.3% (23-03-2020) | −21.3% (28-02-2025) |
| Beta | -- | 0.89 |
| Alpha | -- | +3.23% |
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.
Sundaram Mid Cap Fund (Direct)
Union 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 |
|---|---|---|---|---|---|---|
| Sundaram Mid Cap Fund (Direct) | −20.7% | 24-09-2024 | 28-02-2025 | 27-10-2025 | 8 months | −10.8% |
| Union Midcap Fund (Direct) | −21.3% | 23-09-2024 | 28-02-2025 | 20-10-2025 | 8 months | −9.3% |
| Nifty Midcap 150 TRI | −21.1% | 18-10-2021 | 20-06-2022 | 09-09-2022 | 3 months | −10.5% |
From daily values since 30-03-2020, 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.
Sundaram Mid Cap Fund (Direct)
Union 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.
Sundaram Mid Cap Fund (Direct)
Union 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.
Sundaram Mid Cap Fund (Direct)
Union Midcap Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Sundaram Mid Cap Fund (Direct) | 90% | 86% | 4.30% |
| Union Midcap Fund (Direct) | 96% | 87% | 6.58% |
From month-end values since 30-03-2020. 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.
Sundaram Mid Cap vs Union Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Sundaram Mid Cap Fund, September 2026; Union Midcap Fund, September 2026
Holdings in common
- Overlap
- 40.5%
- Held by both
- 38
- Only in Sundaram Mid Cap
- 35
- Only in Union Midcap
- 39
| Security | % of Sundaram Mid Cap | % of Union Midcap |
|---|---|---|
| The Federal Bank Ltd | 2.36% | 3.04% |
| Coforge Ltd | 2.02% | 2.01% |
| The Phoenix Mills Ltd | 1.96% | 2.00% |
| Sona BLW Precision Forgings Ltd | 2.02% | 1.80% |
| Max Financial Services Ltd | 1.79% | 2.59% |
| GE Vernova T and D India Ltd | 1.74% | 2.38% |
| Marico Ltd | 1.87% | 1.71% |
| Jindal Steel & Power Ltd | 1.83% | 1.65% |
| One 97 Communications Ltd | 1.54% | 3.10% |
| Fortis Health Care Ltd | 1.50% | 2.18% |
| LG Electronics India Ltd | 1.42% | 1.68% |
| Tube Investments of India Ltd | 1.31% | 1.22% |
| Info Edge (India) Ltd | 1.20% | 1.76% |
| Dixon Technologies (India) Ltd | 1.12% | 1.37% |
| Cummins India Ltd | 2.39% | 1.08% |
| JSW Energy Ltd | 1.02% | 1.74% |
| BSE Ltd | 1.76% | 1.02% |
| Schaeffler India Ltd | 1.04% | 0.99% |
| Prestige Estates Projects Ltd | 0.98% | 1.79% |
| ZF Commercial Vehicle Control Systems I Ltd | 0.93% | 1.35% |
| Amber Enterprises India Ltd | 1.01% | 0.92% |
| APL Apollo Tubes Ltd | 0.89% | 1.68% |
| AU Small Finance Bank Ltd | 1.82% | 0.87% |
| Delhivery Ltd | 1.41% | 0.86% |
| Nippon Life India Asset Management Ltd | 0.81% | 2.19% |
| UNO Minda Ltd | 0.81% | 1.72% |
| Billionbrains Garage Ventures Ltd | 0.79% | 1.23% |
| Persistent Systems Ltd | 0.99% | 0.76% |
| Grindwell Norton Ltd | 0.71% | 0.80% |
| Bharti Hexacom Ltd | 0.60% | 1.71% |
| Indian Bank | 1.12% | 0.57% |
| JK Cement Ltd | 1.22% | 0.54% |
| JSW Infrastructure Ltd | 0.43% | 1.68% |
| FSN E–Commerce Ventures Ltd(NYKAA) | 1.56% | 0.43% |
| Hindustan Petroleum Corporation Ltd | 1.19% | 0.43% |
| PB Fintech Ltd | 0.72% | 0.41% |
| Manipal Health Enterprises Ltd | 0.35% | 0.50% |
| Swiggy Ltd | 1.25% | 0.23% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.5% means 40.5% 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 Sundaram Mid Cap Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Financial Services Ltd | 2.74% |
| Kalyan Jewellers India Ltd | 2.58% |
| IDFC First Bank Ltd | 2.25% |
| Thermax Ltd | 2.20% |
| Coromandel International Ltd | 1.91% |
Largest holdings only in Union Midcap Fund
| Security | % of fund |
|---|---|
| Multi Commodity Exchange of India Ltd. | 2.90% |
| IPCA Laboratories Ltd. | 2.49% |
| Bharat Heavy Electricals Ltd. | 2.12% |
| Ajanta Pharma Ltd. | 2.08% |
| Mphasis Ltd. | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Sundaram Mid Cap | Union Midcap |
|---|---|---|
| Equity | 95.6% | 98.1% |
| Debt | 0.0% | 0.1% |
| Cash and others | 4.4% | 1.8% |
Market cap of stocks
| Market cap | Sundaram Mid Cap | Union Midcap |
|---|---|---|
| Large Cap | 13.4% | 15.6% |
| Mid Cap | 66.0% | 66.5% |
| Small Cap | 15.9% | 15.5% |
| Not on AMFI's list | 0.3% | 0.5% |
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 | Sundaram Mid Cap | Union Midcap |
|---|---|---|
| Auto Components | 6.1% | 9.8% |
| Banks | 9.4% | 9.1% |
| Pharmaceuticals & Biotechnology | 6.1% | 8.6% |
| Electrical Equipment | 5.6% | 7.4% |
| Capital Markets | 6.3% | 7.3% |
| Industrial Products | 6.6% | 5.4% |
| Consumer Durables | 6.1% | 4.8% |
| Chemicals & Petrochemicals | 0.7% | 5.7% |
The six largest sectors of each fund's stocks, % of the fund.
Sundaram Mid Cap vs Union Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Sundaram Mid Cap Fund | Union Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.06% | 1.08% |
| Base expense ratio (Direct) | 0.76% | 0.66% |
| Total expense ratio (Regular) | 1.87% | 2.39% |
| Base expense ratio (Regular) | 1.46% | 1.78% |
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 Sundaram Mid Cap with
Sundaram Mid Cap Fund vs Union Midcap Fund: Frequently Asked Questions
What is the difference between Sundaram Mid Cap Fund and Union Midcap Fund?
Both are Mid Cap funds, run by Sundaram Mutual Fund and Union Mutual Fund. Their portfolios overlap 40.5%. Sundaram Mid Cap Fund charges 1.06% a year and Union Midcap Fund 1.08%.
Which has given higher returns, Sundaram Mid Cap Fund or Union Midcap Fund?
Over 1 year: Sundaram Mid Cap Fund −4.58%, Union Midcap Fund +0.66%. Over 3 years: Sundaram Mid Cap Fund +16.41% a year, Union Midcap Fund +15.60% a year. Over 5 years: Sundaram Mid Cap Fund +15.07% a year, Union Midcap Fund +13.79% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Sundaram Mid Cap Fund or Union Midcap Fund?
Sundaram Mid Cap Fund charges less: 1.06% a year against 1.08%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Sundaram Mid Cap Fund and Union Midcap Fund overlap?
40.5%. They hold 38 of the same securities, the largest shared ones being FEDERALBNK, COFORGE, PHOENIXLTD. From each fund's latest monthly portfolio.
Which is riskier, Sundaram Mid Cap Fund or Union Midcap Fund?
On SEBI's riskometer, Sundaram Mid Cap Fund is rated Very High and Union Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.80% and 16.83% a year.
Which is better for SIP, Sundaram Mid Cap Fund or Union Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,67,106 in Sundaram Mid Cap Fund (XIRR 13.8% a year) and ₹8,58,918 in Union Midcap Fund (XIRR 13.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Sundaram Mid Cap Fund and Union Midcap Fund?
Yes. 40.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Sundaram Mid Cap Fund and Union Midcap Fund?
Sundaram Mid Cap Fund: S Bharath, Shalav Saket. Union Midcap Fund: Gaurav Chopra, Pratik Dharmshi.
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.