HSBC Midcap Fund vs LIC MF Mid Cap Fund
HSBC Midcap Fund and LIC MF Mid Cap Fund are both Mid Cap funds. As of 4 Nov 2026 (Direct plan, Growth option): 3-year CAGR +21.87% vs +14.64%, 5-year CAGR — vs —, volatility 20.17% vs 19.03%, maximum drawdown −25.96% vs −21.47%. Their portfolios overlap by 27.6% (18 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| Fund house | HSBC Mutual Fund | LIC Mutual Fund |
| Compared as | Mid Cap | Mid Cap |
| NAV | ₹517.6273 | ₹33.3304 |
| NAV date | 4 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 28 Nov 2022 | 31 Jul 2023 |
| Track record | 3.9 yrs | 3.3 yrs |
| Fund size (AUM) | ₹16,800 Cr | ₹369 Cr |
| Securities held | 72 | 39 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| 1 month | −0.45% | −1.00% |
| 3 months | −2.72% | −5.11% |
| 6 months | +4.84% | +0.33% |
| 1 year | +13.76% | +0.40% |
| 3 years (CAGR) | +21.87% | +14.64% |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +22.65% | +14.97% |
| SIP return (XIRR, 5 years) ⓘ | — | — |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| 2026 (year to date) | +13.25% | +1.56% |
| 2025 | −0.31% | −0.15% |
| 2024 | +41.24% | +30.30% |
| 2023 | +41.53% | — |
Risk
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 20.17% | 19.03% |
| Downside volatility ⓘ | 13.51% | 12.90% |
| Sharpe ratio ⓘ | 0.76 | 0.43 |
| Sortino ratio ⓘ | 1.14 | 0.63 |
| Maximum drawdown ⓘ | −25.96% | −21.47% |
| Recovery from that fall | 14 months | 16 months |
| Current fall from peak | −6.74% | −7.15% |
| Rolling 1-year return: worst | −5.99% | −7.82% |
| Rolling 1-year return: median | +20.87% | +6.52% |
| Rolling 1-year return: best | +68.11% | +60.27% |
| Share of 1-year periods with a loss | 5.66% | 19.61% |
Against each fund's benchmark
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| Beta ⓘ | 1.05 | 1.04 |
| Alpha (Jensen's, annualised) ⓘ | +5.80% | −1.01% |
| R² ⓘ | 87.10 | 93.39 |
| Upside capture | 116.99% | 102.56% |
| Downside capture | 96.03% | 108.84% |
| Tracking error | 7.53% | 5.11% |
| Information ratio | 0.90 | -0.21 |
| Treynor ratio | 14.29 | 6.98 |
Portfolio
Asset mix
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| Equity | 99.18% | 94.47% |
| Cash & equivalents | 0.82% | 5.56% |
Market-cap split (share of fund assets)
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| Large Cap | 4.69% | 2.67% |
| Mid Cap | 65.34% | 78.22% |
| Small Cap | 24.98% | 9.69% |
| Unclassified | 4.17% | 3.89% |
Concentration
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| Top 10 holdings | 36.79% | 32.11% |
| Effective number of stocks ⓘ | 39.4 | 41 |
| Securities held | 72 | 39 |
Portfolio overlap: 27.6%
18 companies are held by both funds; by weight, 27.6% of the two portfolios is the same. That is a moderate overlap.
| Held by both | HSBC Midcap | LIC MF Mid Cap |
|---|---|---|
| FSN E-Commerce Ventures Limited | 3.38% | 2.99% |
| Lenskart Solutions Limited | 5.08% | 2.57% |
| AU Small Finance Bank Limited | 2.34% | 3.98% |
| Coforge Limited | 2.28% | 2.80% |
| The Federal Bank Limited | 3.90% | 2.12% |
| GE Vernova T&D India Limited | 3.09% | 2.03% |
| Nippon Life India Asset Management Limited | 2.01% | 2.39% |
| Mahindra & Mahindra Financial Services Limited | 2.03% | 1.92% |
| Aditya Birla Capital Limited | 1.66% | 2.79% |
| IndusInd Bank Limited | 1.64% | 2.25% |
| Multi Commodity Exchange of India Limited | 1.62% | 2.74% |
| Ashok Leyland Limited | 1.48% | 1.98% |
| One 97 Communications Limited | 1.47% | 2.86% |
| PB Fintech Limited | 1.45% | 1.80% |
| Dixon Technologies (India) Limited | 0.02% | 1.92% |
Top 10 holdings
HSBC Midcap
- Lenskart Solutions Limited5.08%
- Meesho Ltd5.04%
- The Federal Bank Limited3.90%
- Aditya Infotech Limited3.64%
- Piramal Finance Limited3.56%
- FSN E-Commerce Ventures Limited3.38%
- Apar Industries Limited3.16%
- GE Vernova T&D India Limited3.09%
- Ather Energy Limited3.03%
- Dhoot Transmission Ltd2.91%
LIC MF Mid Cap
- AU Small Finance Bank Limited3.98%
- INDO-MIM Ltd.3.89%
- Aurobindo Pharma Limited3.72%
- FSN E-Commerce Ventures Limited2.99%
- Neuland Laboratories Limited2.99%
- UNO Minda Limited2.97%
- Motilal Oswal Financial Services Ltd.2.95%
- Info Edge (India) Limited2.92%
- One 97 Communications Limited2.86%
- Aster DM Quality Care Limited2.84%
Sector exposure
| HSBC Midcap | LIC MF Mid Cap | |
|---|---|---|
| Electrical Equipment | 15.44% | 7.02% |
| Retailing | 13.51% | 8.48% |
| Banks | 11.01% | 8.35% |
| Capital Markets | 5.11% | 9.54% |
| Pharmaceuticals & Biotechnology | 7.91% | 8.46% |
| IT - Software | 2.29% | 7.43% |
| Finance | 7.32% | 4.71% |
| Auto Components | 5.52% | 6.76% |
| Industrial Manufacturing | 5.27% | 3.89% |
| Healthcare Services | 1.87% | 4.87% |
| Financial Technology (Fintech) | 2.92% | 4.66% |
| Chemicals & Petrochemicals | 2.01% | 4.58% |
| Automobiles | 3.04% | 0.00% |
| Beverages | 2.89% | 0.00% |
Questions people ask
What is the difference between HSBC Midcap and LIC MF Mid Cap returns?
As of 4 Nov 2026, Direct plan Growth option: 1-year return +13.76% vs +0.40%; 3-year CAGR +21.87% vs +14.64%; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do HSBC Midcap and LIC MF Mid Cap compare on risk?
Volatility (36 monthly returns, annualised) 20.17% vs 19.03%; Sharpe ratio 0.76 vs 0.43; Sortino ratio 1.14 vs 0.63; maximum drawdown −25.96% vs −21.47%; beta 1.05 vs 1.04.
How much do HSBC Midcap and LIC MF Mid Cap overlap?
By weight, 27.6% of the two portfolios is invested in the same companies; 18 stocks are held by both, the largest shared positions being FSN E-Commerce Ventures Limited, Lenskart Solutions Limited, AU Small Finance Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HSBC Midcap and LIC MF Mid Cap?
HSBC Midcap: large cap 4.7%, mid cap 65.3%, small cap 25.0%. LIC MF Mid Cap: large cap 2.7%, mid cap 78.2%, small cap 9.7% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 4 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.