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Midcap mutual funds have been a lucrative option for long-term investors, offering the potential to capture high-growth opportunities beyond the large-cap universe. Among the top performers, three funds have consistently delivered strong returns across 5-year, 10-year, and even 15-year periods.
Long-term charts show even more consistency, with the same three funds occupying the top three positions over 10 years:
The 15-year performance further reinforces their long-term strength, with the same three funds dominating the top slots:
Launched in June 2007, HDFC Mid Cap Fund is one of the largest in its category, known for its consistent style of investing in fundamentally strong mid-sized companies. It carries a 'Very High' risk rating and has delivered 17.72% returns since launch. As of October 2025, it manages Rs 89,383 crore and has an expense ratio of 1.36% (as of Nov 2025).
Introduced in December 2007, the Edelweiss scheme has built a solid reputation with a balanced approach to midcap investing. It has generated 13.91% returns since launch, is benchmarked to the NIFTY Midcap 150 TRI, and manages Rs 12,647 crore in assets (as of Oct 2025). Its expense ratio stands at 1.67% (Nov 2025).
Launched in April 2007, the Invesco midcap fund uses the BSE 150 MidCap TRI as its benchmark and has delivered 16.96% since inception. It manages Rs 10,007 crore as of Nov 2025, with an expense ratio of 1.72%.
While high returns are attractive, midcap funds come with significantly higher volatility. Investors should look beyond past performance and also evaluate factors such as consistency of returns across market cycles, fund manager track record, portfolio concentration, liquidity of underlying stocks, and expense ratio relative to peers.
Midcap funds are best suited for investors with a long-term horizon (7–10 years or more) and the ability to handle short-term fluctuations.
