Mirae Asset Midcap Fund vs Nippon India Growth Mid Cap Fund
Mirae Asset Midcap Fund and Nippon India Growth Mid Cap Fund are both Mid Cap funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +15.73% vs +17.62%, 5-year CAGR +13.72% vs +16.65%, volatility 18.47% vs 17.74%, maximum drawdown −37.38% vs −35.32%. Their portfolios overlap by 29.3% (30 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
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Nippon India Mutual Fund |
| Compared as | Mid Cap | Mid Cap |
| NAV | ₹42.2380 | ₹4,855.7823 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 30 Jul 2019 | 2 Jan 2013 |
| Track record | 7.3 yrs | 13.8 yrs |
| Fund size (AUM) | ₹19,539 Cr | ₹50,176 Cr |
| Securities held | 65 | 101 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| 1 month | +0.69% | +0.76% |
| 3 months | −4.76% | −3.58% |
| 6 months | +0.49% | −1.08% |
| 1 year | +2.09% | +3.69% |
| 3 years (CAGR) | +15.73% | +17.62% |
| 5 years (CAGR) | +13.72% | +16.65% |
| 7 years (CAGR) | +21.22% | +22.74% |
| 10 years (CAGR) | — | +18.11% |
| Since launch (CAGR) | +22.05% | +17.73% |
| SIP return (XIRR, 5 years) ⓘ | +14.32% | +16.87% |
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
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| 2026 (year to date) | +1.87% | +4.54% |
| 2025 | +10.01% | +4.45% |
| 2024 | +20.86% | +27.93% |
| 2023 | +36.04% | +49.76% |
| 2022 | +6.18% | +6.67% |
| 2021 | +50.60% | +47.56% |
Risk
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 18.47% | 17.74% |
| Downside volatility ⓘ | 12.75% | 11.73% |
| Sharpe ratio ⓘ | 0.50 | 0.63 |
| Sortino ratio ⓘ | 0.73 | 0.95 |
| Maximum drawdown ⓘ | −37.38% | −35.32% |
| Recovery from that fall | 7 months | 7 months |
| Current fall from peak | −6.38% | −4.42% |
| Rolling 1-year return: worst | −4.31% | −27.61% |
| Rolling 1-year return: median | +18.28% | +15.39% |
| Rolling 1-year return: best | +119.63% | +96.36% |
| Share of 1-year periods with a loss | 3.81% | 13.67% |
Against each fund's benchmark
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| Beta ⓘ | 1.00 | 0.97 |
| Alpha (Jensen's, annualised) ⓘ | −0.29% | +1.65% |
| R² ⓘ | 96.29 | 95.44 |
| Upside capture | 101.78% | 101.49% |
| Downside capture | 105.16% | 94.74% |
| Tracking error | 3.60% | 3.94% |
| Information ratio | -0.12 | 0.41 |
| Treynor ratio | 7.86 | 10.17 |
Portfolio
Asset mix
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| Equity | 97.59% | 99.02% |
| Cash & equivalents | 2.19% | 0.98% |
| Mutual Fund Units | 0.25% | 0.00% |
Market-cap split (share of fund assets)
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| Large Cap | 11.76% | 21.54% |
| Mid Cap | 67.94% | 65.87% |
| Small Cap | 15.63% | 11.54% |
| Unclassified | 2.23% | 0.07% |
Concentration
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| Top 10 holdings | 31.55% | 24.77% |
| Effective number of stocks ⓘ | 48.9 | 69.8 |
| Securities held | 65 | 101 |
Portfolio overlap: 29.3%
30 companies are held by both funds; by weight, 29.3% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Mirae Asset Midcap | Nippon India Growth Mid Cap |
|---|---|---|
| Bharat Forge Limited | 2.28% | 1.96% |
| The Federal Bank Limited | 1.93% | 2.59% |
| BSE Limited | 1.90% | 2.40% |
| One 97 Communications Limited | 1.88% | 2.04% |
| Mankind Pharma Limited | 1.83% | 1.95% |
| Persistent Systems Limited | 2.86% | 1.73% |
| Gland Pharma Limited | 1.54% | 1.62% |
| Voltas Limited | 1.92% | 1.47% |
| Bharat Heavy Electricals Limited | 1.68% | 1.41% |
| Dixon Technologies (India) Limited | 2.66% | 1.10% |
| Prestige Estates Projects Limited | 2.11% | 1.10% |
| FSN E-Commerce Ventures Limited | 1.51% | 1.07% |
| Indian Bank | 1.50% | 1.05% |
| Multi Commodity Exchange of India Limited | 0.91% | 3.22% |
| Lupin Limited | 3.34% | 0.89% |
Top 10 holdings
Mirae Asset Midcap
- Laurus Labs Limited4.31%
- Steel Authority of India Limited3.76%
- HDB Financial Services Ltd.3.36%
- Lupin Limited3.34%
- Delhivery Limited3.01%
- Hero MotoCorp Limited2.89%
- Persistent Systems Limited2.86%
- IndusInd Bank Limited2.69%
- Swiggy Limited2.67%
- Dixon Technologies (India) Limited2.66%
Nippon India Growth Mid Cap
- Multi Commodity Exchange of India Limited3.22%
- AU Small Finance Bank Limited2.84%
- The Federal Bank Limited2.59%
- Info Edge (India) Limited2.55%
- Fortis Healthcare Limited2.53%
- Eternal Limited2.42%
- BSE Limited2.40%
- REC Limited2.12%
- ICICI Lombard General Insurance Company Limited2.06%
- One 97 Communications Limited2.04%
Sector exposure
| Mirae Asset Midcap | Nippon India Growth Mid Cap | |
|---|---|---|
| Pharmaceuticals & Biotechnology | 11.47% | 7.67% |
| Banks | 8.25% | 10.01% |
| Auto Components | 5.24% | 8.55% |
| Retailing | 6.41% | 8.38% |
| Finance | 6.17% | 8.01% |
| Consumer Durables | 7.76% | 4.20% |
| Capital Markets | 4.85% | 7.30% |
| Electrical Equipment | 1.68% | 5.13% |
| Industrial Products | 1.66% | 5.09% |
| Transport Services | 4.47% | 0.74% |
| Power | 1.53% | 4.15% |
| Healthcare Services | 3.08% | 3.99% |
| Ferrous Metals | 3.76% | 0.00% |
| Financial Technology (Fintech) | 3.60% | 2.04% |
Questions people ask
What is the difference between Mirae Asset Midcap and Nippon India Growth Mid Cap returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +2.09% vs +3.69%; 3-year CAGR +15.73% vs +17.62%; 5-year CAGR +13.72% vs +16.65%; 10-year CAGR — vs +18.11%. Past returns do not indicate future returns.
How do Mirae Asset Midcap and Nippon India Growth Mid Cap compare on risk?
Volatility (36 monthly returns, annualised) 18.47% vs 17.74%; Sharpe ratio 0.50 vs 0.63; Sortino ratio 0.73 vs 0.95; maximum drawdown −37.38% vs −35.32%; beta 1.00 vs 0.97.
How much do Mirae Asset Midcap and Nippon India Growth Mid Cap overlap?
By weight, 29.3% of the two portfolios is invested in the same companies; 30 stocks are held by both, the largest shared positions being Bharat Forge Limited, The Federal Bank Limited, BSE Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Mirae Asset Midcap and Nippon India Growth Mid Cap?
Mirae Asset Midcap: large cap 11.8%, mid cap 67.9%, small cap 15.6%. Nippon India Growth Mid Cap: large cap 21.5%, mid cap 65.9%, small cap 11.5% (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.
More comparisons
Mirae Asset Midcap vs
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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 5 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.