HealthyDirect · GrowthFit for a long SIP
Axis Nifty Midcap 50 Index Fund
Axis Mutual FundIndex Funds - Equity Funds4.6 years
The scheme seeks to provide returns before expenses that closely corresponds to the total returns of the NIFTY MIDCAP 50 subject to tracking errors.
- NAV
- 20.2726
- 29 Oct 2026
- 1Y
- -1.9%
- Trailing CAGR
- AUM
- ₹735.83 Cr
- 31 Aug 2026
- Volatility
- High
- 17.1% annualized
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 29 Oct 2026
Stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
In three lines
Fits if · The fund beat the category median in 100% of rolling 3-year windows.
Fits if · Three-year return is above the category median.
Buy checklist
History depth
Watch
4.6 years - usable, still building a track record.
Engine status
Pass
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Expense ratio
Pass
0.37% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -20.3%. Ask whether you can hold through a similar fall.
Vs category
Pass
100% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Nandik Mallik · 0.7 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Pass
Top 10 holdings ≈ 32.4% of the portfolio.
Evidence supports a shortlist - confirm with peers before you buy elsewhere.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
Drawdown rehearsal
This scheme’s worst fall on file is about 20%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
If you start a SIP here, diary a 90-day check and an annual review - don’t react to every NAV print.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y-1.9%
- 3Y+14.8%
- 5Yn/a
- 10Yn/a
- SI+16.7%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-4.3%
- 3Y+5.2%
- 5Yn/a
- 10Yn/a
- Since inception
- +16.7%
- Calendar-day CAGR
- Excess 1Y
- +4.7%
- Category median, same plan and option
- 3Y win rate
- +100%
- Windows beating the median
- 3Y percentile
- 65
- Vs comparable share classes
- SIP 3Y XIRR
- +5.2%
- Simulated monthly SIP
- Worst rolling 3Y
- +12.9%
- 397 daily-ending windows
- Median rolling 3Y
- +24.1%
- Calendar-day CAGR
- Positive rolling 5Y
- n/a
- 0 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -20.3%
- Worst peak-to-trough
- Current
- -9.9%
- Below last peak
- Current spell
- 59 days
- Days below latest peak
- Time below peak
- +84%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 11 days
- 71 recovered episodes
- Longest recovery
- 243 days
- Trough to prior peak
24 Sept 2024 – 29 Oct 2025
Trough 28 Feb 2025 · recovered in 243 days
-20.3%
11 Apr 2022 – 30 Aug 2022
Trough 20 Jun 2022 · recovered in 71 days
-17.8%
7 Jan 2026 – 7 May 2026
Trough 31 Mar 2026 · recovered in 37 days
-14.5%
31 Aug 2026 – open
Trough 23 Oct 2026 · not recovered
-13.1%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
65
Vs category
79
Consistency
94
Risk-adjusted
58
Drawdown
49
Mean
69
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Healthy
Buying stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Why this status
- No material deterioration, cost shock, or persistent category underperformance in the current evidence set.
Supporting reads
- The fund beat the category median in 100% of rolling 3-year windows.
- Three-year return is above the category median.
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
31 Aug 2026 · 51 holdings · top 10 are 32.4%.
- Top 5
- 19.2%
- Top 10
- 32.4%
- Largest holding
- 5.7%
- Effective holdings
- 41.6
BSE Ltd
Financial
5.7%
The Federal Bank Ltd
Financial
3.7%
Multi Commodity Exchange Of India Ltd
Financial
3.7%
Laurus Labs Ltd
Healthcare
3.1%
One 97 Communications Ltd
Industrials
3.1%
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Axis BSE Sensex Index Fund
Axis Mutual Fund
- 1Y
- -11.9%
- 3Y
- n/a
- Vol
- 13.5%
- Max DD
- -16.0%
- Sharpe
- -0.23
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Lower TER
Caveat: Lower trailing returns
Axis Nifty 500 Index Fund
Axis Mutual Fund
- 1Y
- -7.9%
- 3Y
- n/a
- Vol
- 14.0%
- Max DD
- -18.6%
- Sharpe
- -0.47
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Lower TER
Caveat: Lower trailing returns
Axis Nifty Bank Index Fund
Axis Mutual Fund
- 1Y
- -5.6%
- 3Y
- n/a
- Vol
- 16.3%
- Max DD
- -18.3%
- Sharpe
- 0.07
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Lower TER
Caveat: Lower trailing returns
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
Zerodha Mutual Fund
- 1Y
- -6.3%
- 3Y
- n/a
- Vol
- 15.1%
- Max DD
- -18.7%
- Sharpe
- 0.37
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Lower TER
Caveat: Lower trailing returns
Aditya Birla Sun Life BSE 500 Quality 50 Index Fund
Aditya Birla Sun Life Mutual Fund
- 1Y
- -3.9%
- 3Y
- n/a
- Vol
- 13.6%
- Max DD
- -11.4%
- Sharpe
- -0.31
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
Caveat: Higher TER · Lower trailing returns