ReviewDirect · GrowthPrefer peers first
Mirae Asset Midcap Fund
Mirae Asset Mutual FundEquity Schemes - Mid Cap Fund7.3 years
The scheme seeks to provide long-term capital appreciation from a portfolio investing predominantly in Indian equity and equity related securities of midcap companies. From time to time, the fund manager may also participate in other Indian equities and equity related securities for optimal portfolio construction.
- NAV
- 40.466
- 29 Oct 2026
- 1Y
- -2.2%
- Trailing CAGR
- Upside capture
- +98%
- Vs NIFTY MIDCAP 150 TRI
- Downside capture
- +94%
- Lower is better
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
Prefer peers first
The live read flags issues. Inspect same-category alternatives before buying.
In three lines
Watch if · Long-term category-relative performance remains stronger than the most recent rolling 1-year windows, which have deteriorated across multiple periods.
Watch if · Three-year return sits below the 25th percentile of comparable share classes.
Prefer peers if · Prefer Invesco India Mid Cap Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
7.3 years of path to read.
Engine status
Fail
The live read flags issues. Inspect same-category alternatives before buying.
Expense ratio
Pass
0.96% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Watch
Peak-to-trough -37.4%. Ask whether you can hold through a similar fall.
Vs category
Fail
39% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Pass
Ankit Jain · 7.3 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 ≈ 31.6% of the portfolio.
Browse category
Same-category peers are preloaded into compare when available.
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 37%. 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
Review does not mean stop the SIP tomorrow - compare peers first. Stopping on a red label often locks in the worst path.
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-2.2%
- 3Y+14.6%
- 5Y+13.4%
- 10Yn/a
- SI+21.4%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-2.6%
- 3Y+6.3%
- 5Y+13.0%
- 10Yn/a
- Since inception
- +21.4%
- Calendar-day CAGR
- Excess 1Y
- -2.2%
- Category median, same plan and option
- 3Y win rate
- +39%
- Windows beating the median
- 3Y percentile
- 0
- Vs comparable share classes
- SIP 3Y XIRR
- +6.3%
- Simulated monthly SIP
- Worst rolling 3Y
- +13.1%
- 1045 daily-ending windows
- Median rolling 3Y
- +23.5%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 558 daily-ending windows
Official benchmark
Date-aligned against NIFTY MIDCAP 150 TRI. Capture ratios use common month-end observations through 30 Oct 2026.
- 1Y excess
- +1.5%
- Fund minus TRI
- 3Y excess
- +0.4%
- Fund minus TRI
- Upside capture
- +98%
- Benchmark-up months
- Downside capture
- +94%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -37.4%
- Worst peak-to-trough
- Current
- -10.3%
- Below last peak
- Current spell
- 59 days
- Days below latest peak
- Time below peak
- +83%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 11 days
- 108 recovered episodes
- Longest recovery
- 213 days
- Trough to prior peak
20 Feb 2020 – 22 Oct 2020
Trough 23 Mar 2020 · recovered in 213 days
-37.4%
1 Oct 2024 – 16 Sept 2025
Trough 28 Feb 2025 · recovered in 200 days
-22.5%
17 Jan 2022 – 6 Sept 2022
Trough 20 Jun 2022 · recovered in 78 days
-17.9%
5 Jan 2026 – 7 May 2026
Trough 31 Mar 2026 · recovered in 37 days
-14.4%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
0
Vs category
36
Consistency
45
Risk-adjusted
68
Drawdown
7
Mean
31
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Review
Buying stance
Prefer peers first
The live read flags issues. Inspect same-category alternatives before buying.
Why this status
- Long-term category-relative performance remains stronger than the most recent rolling 1-year windows, which have deteriorated across multiple periods.
- Three-year return sits below the 25th percentile of comparable share classes.
- Maximum drawdown exceeded 35%.
Supporting reads
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
30 Sept 2026 · 67 holdings · top 10 are 31.6%.
- Top 5
- 17.8%
- Top 10
- 31.6%
- Largest holding
- 4.3%
- Effective holdings
- 48.0
Laurus Labs Ltd
Healthcare
4.3%
Steel Authority Of India Ltd
Materials
3.8%
HDB FINANCIAL SERVICES LIMITED EQ
Financial
3.4%
Lupin Ltd
Healthcare
3.3%
Delhivery Ltd
Industrials
3.0%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
29 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
28 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
27 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
26 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
21 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
19 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
16 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
24 Sept 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Invesco India Mid Cap Fund
Invesco Mutual Fund
- 1Y
- -0.1%
- 3Y
- +22.0%
- Vol
- 16.2%
- Max DD
- -34.1%
- Sharpe
- 0.88
- 3Y win
- +52%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
JM Mid Cap Fund
JM Financial Mutual Fund
- 1Y
- +1.3%
- 3Y
- +18.0%
- Vol
- 16.8%
- Max DD
- -22.5%
- Sharpe
- 0.89
- 3Y win
- +53%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Kotak Mid Cap Fund
Kotak Mahindra Mutual Fund
- 1Y
- -4.0%
- 3Y
- +15.3%
- Vol
- 15.4%
- Max DD
- -36.0%
- Sharpe
- 0.86
- 3Y win
- +68%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Mahindra Manulife Mid Cap Fund
Mahindra Manulife Mutual Fund
- 1Y
- -1.0%
- 3Y
- +15.7%
- Vol
- 16.9%
- Max DD
- -33.1%
- Sharpe
- 0.71
- 3Y win
- +75%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
WhiteOak Capital Mid Cap Fund
WhiteOak Capital Mutual Fund
- 1Y
- +4.5%
- 3Y
- +20.6%
- Vol
- 14.8%
- Max DD
- -19.3%
- Sharpe
- 0.99
- 3Y win
- +100%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns