Mirae Asset Midcap Fund vs Union Midcap Fund
Mirae Asset Midcap Fund and Union Midcap Fund are both Mid Cap funds. As of 4 Nov 2026 (Direct plan, Growth option): 3-year CAGR +15.21% vs +16.54%, 5-year CAGR +13.42% vs +14.08%, volatility 18.39% vs 17.32%, maximum drawdown −37.38% vs −21.26%. Their portfolios overlap by 26.1% (27 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 | Union Midcap | |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Union Mutual Fund |
| Compared as | Mid Cap | Mid Cap |
| NAV | ₹41.6580 | ₹55.3200 |
| NAV date | 4 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 30 Jul 2019 | 30 Mar 2020 |
| Track record | 7.3 yrs | 6.6 yrs |
| Fund size (AUM) | ₹19,539 Cr | ₹1,906 Cr |
| Securities held | 65 | 77 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Mirae Asset Midcap | Union Midcap | |
|---|---|---|
| 1 month | +0.52% | +0.99% |
| 3 months | −6.31% | −3.89% |
| 6 months | +0.38% | +1.99% |
| 1 year | +0.69% | +4.34% |
| 3 years (CAGR) | +15.21% | +16.54% |
| 5 years (CAGR) | +13.42% | +14.08% |
| 7 years (CAGR) | +20.84% | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +21.83% | +28.85% |
| SIP return (XIRR, 5 years) ⓘ | +13.77% | +14.74% |
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 | Union Midcap | |
|---|---|---|
| 2026 (year to date) | +0.48% | +5.05% |
| 2025 | +10.01% | +3.68% |
| 2024 | +20.86% | +30.50% |
| 2023 | +36.04% | +34.21% |
| 2022 | +6.18% | −0.82% |
| 2021 | +50.60% | +53.98% |
Risk
| Mirae Asset Midcap | Union Midcap | |
|---|---|---|
| Volatility (annualised) ⓘ | 18.39% | 17.32% |
| Downside volatility ⓘ | 12.75% | 12.15% |
| Sharpe ratio ⓘ | 0.47 | 0.58 |
| Sortino ratio ⓘ | 0.68 | 0.83 |
| Maximum drawdown ⓘ | −37.38% | −21.26% |
| Recovery from that fall | 7 months | 8 months |
| Current fall from peak | −7.67% | −6.01% |
| Rolling 1-year return: worst | −4.31% | −5.58% |
| Rolling 1-year return: median | +18.29% | +17.42% |
| Rolling 1-year return: best | +119.63% | +107.80% |
| Share of 1-year periods with a loss | 3.81% | 3.48% |
Against each fund's benchmark
| Mirae Asset Midcap | Union Midcap | |
|---|---|---|
| Beta ⓘ | 1.00 | 0.93 |
| Alpha (Jensen's, annualised) ⓘ | −0.29% | +1.33% |
| R² ⓘ | 96.29 | 91.85 |
| Upside capture | 101.78% | 98.73% |
| Downside capture | 105.16% | 93.79% |
| Tracking error | 3.60% | 5.26% |
| Information ratio | -0.12 | 0.17 |
| Treynor ratio | 7.86 | 9.87 |
Portfolio
Asset mix
| Mirae Asset Midcap | Union Midcap | |
|---|---|---|
| Equity | 97.59% | 98.10% |
| Cash & equivalents | 2.19% | 1.83% |
| Mutual Fund Units | 0.25% | 0.00% |
| Debt | 0.00% | 0.07% |
Market-cap split (share of fund assets)
| Mirae Asset Midcap | Union Midcap | |
|---|---|---|
| Large Cap | 11.76% | 15.55% |
| Mid Cap | 67.94% | 66.53% |
| Small Cap | 15.63% | 15.52% |
| Unclassified | 2.23% | 0.50% |
Concentration
| Mirae Asset Midcap | Union Midcap | |
|---|---|---|
| Top 10 holdings | 31.55% | 25.07% |
| Effective number of stocks ⓘ | 48.9 | 61.5 |
| Securities held | 65 | 77 |
Portfolio overlap: 26.1%
27 companies are held by both funds; by weight, 26.1% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Mirae Asset Midcap | Union Midcap |
|---|---|---|
| The Federal Bank Limited | 1.93% | 3.04% |
| One 97 Communications Limited | 1.88% | 3.10% |
| Prestige Estates Projects Limited | 2.11% | 1.79% |
| Bharat Heavy Electricals Limited | 1.68% | 2.12% |
| Axis Bank Limited | 2.13% | 1.53% |
| L&T Finance Limited | 1.89% | 1.47% |
| SRF Ltd. | 1.39% | 1.47% |
| Dixon Technologies (India) Limited | 2.66% | 1.37% |
| Billionbrains Garage Ventures Ltd | 1.27% | 1.23% |
| BSE Limited | 1.90% | 1.02% |
| The Phoenix Mills Limited | 1.00% | 2.00% |
| Schaeffler India Ltd. | 1.05% | 0.99% |
| Multi Commodity Exchange of India Limited | 0.91% | 2.90% |
| Max Financial Services Limited | 0.87% | 2.59% |
| Delhivery Limited | 3.01% | 0.86% |
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%
Union Midcap
- One 97 Communications Limited3.10%
- The Federal Bank Limited3.04%
- Multi Commodity Exchange of India Limited2.90%
- Max Financial Services Limited2.59%
- IPCA Laboratories Limited2.49%
- GE Vernova T&D India Limited2.38%
- Nippon Life India Asset Management Limited2.19%
- Fortis Healthcare Limited2.18%
- Bharat Heavy Electricals Limited2.12%
- Ajanta Pharma Limited2.08%
Sector exposure
| Mirae Asset Midcap | Union Midcap | |
|---|---|---|
| Pharmaceuticals & Biotechnology | 11.47% | 8.55% |
| Auto Components | 5.24% | 9.84% |
| Banks | 8.25% | 9.05% |
| Consumer Durables | 7.76% | 4.77% |
| Electrical Equipment | 1.68% | 7.36% |
| Capital Markets | 4.85% | 7.34% |
| Retailing | 6.41% | 4.24% |
| Finance | 6.17% | 4.44% |
| Chemicals & Petrochemicals | 2.13% | 5.74% |
| Industrial Products | 1.66% | 5.37% |
| IT - Software | 2.86% | 4.81% |
| Transport Services | 4.47% | 0.86% |
| Realty | 3.11% | 3.79% |
| Ferrous Metals | 3.76% | 1.65% |
Questions people ask
What is the difference between Mirae Asset Midcap and Union Midcap returns?
As of 4 Nov 2026, Direct plan Growth option: 1-year return +0.69% vs +4.34%; 3-year CAGR +15.21% vs +16.54%; 5-year CAGR +13.42% vs +14.08%; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Mirae Asset Midcap and Union Midcap compare on risk?
Volatility (36 monthly returns, annualised) 18.39% vs 17.32%; Sharpe ratio 0.47 vs 0.58; Sortino ratio 0.68 vs 0.83; maximum drawdown −37.38% vs −21.26%; beta 1.00 vs 0.93.
How much do Mirae Asset Midcap and Union Midcap overlap?
By weight, 26.1% of the two portfolios is invested in the same companies; 27 stocks are held by both, the largest shared positions being The Federal Bank Limited, One 97 Communications Limited, Prestige Estates Projects 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 Union Midcap?
Mirae Asset Midcap: large cap 11.8%, mid cap 67.9%, small cap 15.6%. Union Midcap: large cap 15.6%, mid cap 66.5%, small cap 15.5% (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
All Mid Cap comparisons → · Compare up to six funds yourself → · Every fund in this category → · All comparisons →
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.