Tata Mid Cap Fund vs Union Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Mid Cap Fund and Union Midcap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, Tata Mid Cap Fund (Direct) returned 13.5% a year and Union Midcap Fund (Direct) returned 15.6% a year. Tata Mid Cap Fund charges 0.85% a year and Union Midcap Fund 1.08% (Direct plans). Their portfolios overlap 39.8%: they hold 29 of the same securities.
Which is better, Tata 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.
- Union Midcap returned more over 5 years: 13.8% a year against 13.2%.
- Union Midcap returned more over 3 years: 15.6% a year against 13.5%.
- Tata Mid Cap costs less: 0.85% a year against 1.08% (Direct plans).
- Tata Mid Cap swung less over 3 years: a standard deviation of 15.5% a year against 16.8%.
- Tata Mid Cap fell less in its worst fall since 30-03-2020: −21.2% against −21.3%.
- Tata Mid Cap is the larger fund: ₹5,860 Cr against ₹1,906 Cr.
- Their portfolios overlap 39.8%: 29 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 | Tata Mid Cap Fund | Union Midcap Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | Union Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹5,860 Cr (30-09-2026) | ₹1,906 Cr (30-09-2026) |
| NAV | ₹492.52 (Direct) | ₹53.40 (Direct) |
| Expense ratio (Direct) | 0.85% | 1.08% |
| Expense ratio (Regular) | 2.02% | 2.39% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | BSE Midcap 150 TRI |
| Launch date | 31-03-2004 | 23-03-2020 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Satish Chandra Mishra | Gaurav Chopra, Pratik Dharmshi |
| Exit load | Exit load of 0.50%, if redeemed within 30 days. | Exit load of 1%, if redeemed within 15 days. |
Tata 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 |
|---|---|---|---|---|---|---|---|
| Tata Mid Cap Fund (Direct) | −2.91% | −7.20% | −2.55% | −2.67% | +13.47% | +13.17% | +15.45% |
| 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.
Tata Mid Cap vs Union Midcap: Year-wise Returns
| Year | Tata Mid CapTata Mid Cap | Union MidcapUnion Midcap |
|---|---|---|
| 2026to date | −4.51% | +1.41% |
| 2025 | +7.13% | +3.68% |
| 2024 | +24.17% | +30.50% |
| 2023 | +42.15% | +34.21% |
| 2022 | +1.92% | −0.82% |
| 2021 | +41.73% | +53.98% |
Tata Mid Cap vs Union Midcap: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of Tata 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.
Tata 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Mid Cap | 0.0 | 0.0 | 0.0 | 3.4 | 16.1 | 38.6 | 41.8 | 24.0% | 23.7% | 12.2% | 34.1% | 3% |
| 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.
Tata 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 |
|---|---|---|---|---|
| Tata Mid CapTata Mid Cap Fund (Direct) | ₹8,00,000 | ₹13,74,263 | ₹5,74,263 | 16.0% |
| Union MidcapUnion Midcap Fund (Direct) | ₹8,00,000 | ₹14,77,594 | ₹6,77,594 | 18.2% |
Tata Mid CapTata 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.
Tata 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 | Tata Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.67% | +0.66% |
| Standard deviation | 15.25% | 16.64% |
| Sharpe ratio | -0.52 | -0.28 |
| Sortino ratio | -0.70 | -0.37 |
| Maximum drawdown | −13.0% (31-03-2026) | −12.1% (23-10-2026) |
| Beta | 0.90 | 0.99 |
| Alpha | +0.75% | +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 | Tata Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.47% | +15.60% |
| Standard deviation | 15.51% | 16.83% |
| Sharpe ratio | 0.48 | 0.57 |
| Sortino ratio | 0.64 | 0.76 |
| Maximum drawdown | −21.2% (28-02-2025) | −21.3% (28-02-2025) |
| Beta | 0.88 | 0.96 |
| Alpha | +0.57% | +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 | Tata Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.17% | +13.79% |
| Standard deviation | 15.37% | 15.87% |
| Sharpe ratio | 0.48 | 0.50 |
| Sortino ratio | 0.63 | 0.67 |
| Maximum drawdown | −21.2% (28-02-2025) | −21.3% (28-02-2025) |
| Beta | 0.89 | 0.92 |
| Alpha | +0.20% | +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 | Tata Mid Cap Fund (Direct) | Union Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.08% | +28.22% |
| Standard deviation | 16.01% | 16.03% |
| Sharpe ratio | 0.75 | 1.44 |
| Sortino ratio | 1.00 | 1.99 |
| Maximum drawdown | −35.1% (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.
Tata 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 |
|---|---|---|---|---|---|---|
| Tata Mid Cap Fund (Direct) | −21.2% | 27-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −9.6% |
| 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.
Tata 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.
Tata 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.
Tata Mid Cap Fund (Direct)
Union Midcap Fund (Direct)
Nifty Midcap 150 TRI
Against Nifty Midcap 150 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Tata Mid Cap Fund (Direct) | 88% | 84% | 4.46% |
| 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.
Tata Mid Cap vs Union Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Mid Cap Fund, September 2026; Union Midcap Fund, September 2026
Holdings in common
- Overlap
- 39.8%
- Held by both
- 29
- Only in Tata Mid Cap
- 29
- Only in Union Midcap
- 48
| Security | % of Tata Mid Cap | % of Union Midcap |
|---|---|---|
| ONE 97 COMMUNICATIONS LTD | 3.15% | 3.10% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 2.96% | 2.90% |
| FEDERAL BANK LTD | 2.71% | 3.04% |
| MAX FINANCIAL SERVICES LTD | 2.81% | 2.59% |
| BHARAT HEAVY ELECTRICALS LTD | 3.20% | 2.12% |
| MPHASIS LTD | 1.84% | 2.04% |
| SONA BLW PRECISION FORGINGS LTD | 2.03% | 1.80% |
| UNO MINDA LTD | 2.00% | 1.72% |
| BHARTI HEXACOM LTD | 2.67% | 1.71% |
| MARICO LTD | 2.55% | 1.71% |
| JSW INFRASTRUCTURE LTD | 1.70% | 1.68% |
| L&T FINANCE LTD | 2.94% | 1.47% |
| ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA LTD | 1.36% | 1.35% |
| DIXON TECHNOLOGIES (INDIA) LTD | 1.35% | 1.37% |
| THE PHOENIX MILLS LTD | 1.32% | 2.00% |
| BILLIONBRAINS GARAGE VENTURES LTD (GROWW) | 1.41% | 1.23% |
| SOLAR INDUSTRIES INDIA LTD | 1.18% | 1.75% |
| GE VERNOVA T&D INDIA LTD | 1.08% | 2.38% |
| BSE LTD | 1.58% | 1.02% |
| JINDAL STEEL LTD | 0.97% | 1.65% |
| AU SMALL FINANCE BANK LTD | 2.93% | 0.87% |
| PERSISTENT SYSTEMS LTD | 1.80% | 0.76% |
| BHARAT FORGE LTD | 1.81% | 0.73% |
| INDIAN BANK | 1.58% | 0.57% |
| J K CEMENT LTD | 2.04% | 0.54% |
| HINDUSTAN PETROLEUM CORPORATION LTD | 1.08% | 0.43% |
| PB FINTECH LTD | 1.27% | 0.41% |
| K.P.R. MILL LTD | 0.90% | 0.32% |
| NAVIN FLUORINE INTERNATIONAL LTD | 0.98% | 0.29% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.8% means 39.8% 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 Tata Mid Cap Fund
| Security | % of fund |
|---|---|
| MANKIND PHARMA LTD | 3.42% |
| INDUSIND BANK LTD | 2.92% |
| MAX HEALTHCARE INSTITUTE LTD | 2.75% |
| GLENMARK PHARMACEUTICALS LTD | 2.39% |
| ABBOTT INDIA LTD | 2.31% |
Largest holdings only in Union Midcap Fund
| Security | % of fund |
|---|---|
| IPCA Laboratories Ltd. | 2.49% |
| Nippon Life India Asset Management Ltd. | 2.19% |
| Fortis Healthcare Ltd. | 2.18% |
| Ajanta Pharma Ltd. | 2.08% |
| Coforge Ltd. | 2.01% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Mid Cap | Union Midcap |
|---|---|---|
| Equity | 97.4% | 98.1% |
| Debt | 0.0% | 0.1% |
| Cash and others | 2.6% | 1.8% |
Market cap of stocks
| Market cap | Tata Mid Cap | Union Midcap |
|---|---|---|
| Large Cap | 16.4% | 15.6% |
| Mid Cap | 74.5% | 66.5% |
| Small Cap | 6.5% | 15.5% |
| Not on AMFI's list | 0.0% | 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 | Tata Mid Cap | Union Midcap |
|---|---|---|
| Banks | 11.2% | 9.1% |
| Pharmaceuticals & Biotechnology | 9.9% | 8.6% |
| Auto Components | 8.4% | 9.8% |
| Electrical Equipment | 6.4% | 7.4% |
| Capital Markets | 6.0% | 7.3% |
| Chemicals & Petrochemicals | 5.3% | 5.7% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Mid Cap vs Union Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Mid Cap Fund | Union Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.85% | 1.08% |
| Base expense ratio (Direct) | 0.56% | 0.66% |
| Total expense ratio (Regular) | 2.02% | 2.39% |
| Base expense ratio (Regular) | 1.57% | 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 Tata Mid Cap with
Tata Mid Cap Fund vs Union Midcap Fund: Frequently Asked Questions
What is the difference between Tata Mid Cap Fund and Union Midcap Fund?
Both are Mid Cap funds, run by Tata Mutual Fund and Union Mutual Fund. Their portfolios overlap 39.8%. Tata Mid Cap Fund charges 0.85% a year and Union Midcap Fund 1.08%.
Which has given higher returns, Tata Mid Cap Fund or Union Midcap Fund?
Over 1 year: Tata Mid Cap Fund −2.67%, Union Midcap Fund +0.66%. Over 3 years: Tata Mid Cap Fund +13.47% a year, Union Midcap Fund +15.60% a year. Over 5 years: Tata Mid Cap Fund +13.17% 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, Tata Mid Cap Fund or Union Midcap Fund?
Tata Mid Cap Fund charges less: 0.85% a year against 1.08%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Mid Cap Fund and Union Midcap Fund overlap?
39.8%. They hold 29 of the same securities, the largest shared ones being PAYTM, MCX, FEDERALBNK. From each fund's latest monthly portfolio.
Which is riskier, Tata Mid Cap Fund or Union Midcap Fund?
On SEBI's riskometer, Tata Mid Cap Fund is rated Very High and Union Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.51% and 16.83% a year.
Which is better for SIP, Tata 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 ₹8,27,877 in Tata Mid Cap Fund (XIRR 12.0% 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 Tata Mid Cap Fund and Union Midcap Fund?
Yes. 39.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Mid Cap Fund and Union Midcap Fund?
Tata Mid Cap Fund: Satish Chandra Mishra. 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.