HDFC Mid Cap Fund: Down 1.46% in a Year, but ₹10,000 Put In Three Years Ago Is ₹15,463 Now
Key Highlights
₹10,000 in HDFC Mid Cap Fund three years ago is ₹15,463 now (3 Nov 2026). 1-year −1.46%, 3-year 15.62% a year.
Returns as of: 3 November 2026
- ₹10,000 put in three years ago is worth ₹15,463 now
- 1-year return: −1.46%, lower than the category average of 0.26%
- 3-year return: 15.62% a year, higher than the category average of 15.47%
- Expense ratio (Direct plan): 0.76%, lower than the category average of 1.10%
- Assets: ₹1,01,856 crore at 30 September 2026
- Largest holding: The Federal Bank Ltd., 3.98% of the fund; the top ten are 31.29%
- Volatility over three years: 14.96% a year
A ₹10,000 investment in the HDFC Mid Cap Fund three years ago is worth ₹15,463 now. The fund returned −1.46% over the past year. Its expense ratio is 0.76% and total assets were ₹1,01,856 crore at 30 September 2026.
HDFC Mid Cap Fund: key details
| Fund house | HDFC Mutual Fund |
| Category | Equity – Mid Cap Fund |
| Nifty Midcap 150 – TRI | |
| Expense ratio (Direct plan) | 0.76% |
| Assets | ₹1,01,856 crore (30 September 2026) |
| Minimum investment | ₹100 |
| ₹100 | |
| Exit load | 1% on or before 1Y, Nil after 1Y |
| Fund managers | Chirag Setalvad |
HDFC Mid Cap Fund: returns
| Period | Fund return | Category average | Rank in category |
|---|---|---|---|
| 1 week | 1.84% | – | – |
| 1 month | 0.30% | – | – |
| 3 months | −6.95% | – | – |
| 6 months | 1.09% | – | – |
| 1 year (a year) | −1.46% | 0.26% (31 funds) | 22 of 31 |
| 3 years (a year) | 15.62% | 15.47% (29 funds) | 15 of 29 |
| 5 years (a year) | 17.24% | – | – |
The 1-year return of −1.46% for the HDFC Mid Cap Fund is lower than the category average of 0.26%. Over three years, the fund returned 15.62% a year, which is higher than the category average of 15.47%.
Assets over recent months
| Month | Assets (₹ crore) |
|---|---|
| 30 April 2026 | 94,745 |
| 31 May 2026 | 97,350 |
| 30 June 2026 | 1,00,858 |
| 31 July 2026 | 1,05,143 |
| 31 August 2026 | 1,08,325 |
| 30 September 2026 | 1,01,856 |
Volatility and largest fall
| Measure | Fund | Category median |
|---|---|---|
| Volatility (annualised) | 14.96% | 16.58% |
| Largest fall from a high (16 December 2024 to 4 March 2025) | −16.76% | −21.24% |
The fund recorded a volatility of 14.96% a year, which is lower than the category median of 16.58%. Its largest fall from a high was −16.76%, while the category median fall was −21.24%.
Portfolio: top holdings
| Holding | Sector | Value (₹ crore) | |
|---|---|---|---|
| The Federal Bank Ltd. | Banks | 3.98% | 4,057 |
| Au Small Finance Bank Ltd. | Banks | 3.94% | 4,015 |
| Max Financial Services Ltd. | Insurance | 3.52% | 3,587 |
| Ipca Laboratories Ltd. | Pharmaceuticals & Biotechnology | 3.43% | 3,496 |
| Glenmark Pharmaceuticals Ltd. | Pharmaceuticals & Biotechnology | 3.07% | 3,130 |
| Balkrishna Industries Ltd. | Auto Components | 2.98% | 3,036 |
| Indian Bank | Banks | 2.92% | 2,970 |
| Coforge Limited | IT – Software | 2.68% | 2,732 |
| Fortis Healthcare Limited | Healthcare Services | 2.40% | 2,441 |
| Marico Ltd. | Agricultural Food & Other Products | 2.37% | 2,411 |
| Sector | Weight |
|---|---|
| Banks | 15.39% |
| Pharmaceuticals & Biotechnology | 12.14% |
| Auto Components | 9.55% |
| IT – Software | 7.15% |
| Insurance | 5.55% |
| Industrial Products | 5.21% |
| Type | Weight |
|---|---|
| Domestic Equities | 91.74% |
| Cash & Cash Equivalents and Net Assets | 8.26% |
| Change | Holding | Weight |
|---|---|---|
| Weight fell | Fintech Limited | 1.69% to 1.07% |
| Weight fell | Fortis Healthcare Limited | 2.69% to 2.40% |
| Weight fell | Max Financial Services Ltd. | 3.79% to 3.52% |
The ten largest holdings account for 31.29% of the portfolio. The weight of Max Financial Services Ltd. fell from 3.79% to 3.52% since the previous month. Similarly, the weight of Fortis Healthcare Limited fell from 2.69% to 2.40%.
Objective
The scheme states its objective as follows.
To provide long-term capital appreciation/income by investing predominantly in Mid-Cap companies.There is no assurance that the investment objective of the Scheme will be realized.
Fund managers
| Name | Role | Experience |
|---|---|---|
| Chirag Setalvad | Senior – Equities | 16 Years |
HDFC Mid Cap Fund: FAQs
What would ₹10,000 in the HDFC Mid Cap Fund be worth today?
₹10,000 put into the Direct Growth plan on 3 November 2023 would have been worth ₹15,463 on 3 November 2026. This is what happened over those three years, not a forecast.
What is the return of the HDFC Mid Cap Fund?
The Direct Growth plan returned −1.46% over one year to 3 November 2026, lower than the category average of 0.26%. Over three years it returned 15.62% a year.
What is the expense ratio of the HDFC Mid Cap Fund?
The expense ratio of the Direct plan is 0.76%; the average for 34 Direct plans in the category is 1.10%.
How large is the HDFC Mid Cap Fund?
Its assets were ₹1,01,856 crore at 30 September 2026.
What are the top holdings of the HDFC Mid Cap Fund?
At 30 September 2026 the largest holdings were The Federal Bank Ltd. (3.98%), Au Small Finance Bank Ltd. (3.94%), Max Financial Services Ltd. (3.52%). The top ten made up 31.29% of the fund.
Who manages the HDFC Mid Cap Fund?
The fund is managed by Chirag Setalvad.
What is the minimum investment in the HDFC Mid Cap Fund?
The minimum investment is ₹100. The minimum is ₹100.
What is the exit load of the HDFC Mid Cap Fund?
The scheme states its exit load as: 1% on or before 1Y, Nil after 1Y
What is the benchmark of the HDFC Mid Cap Fund?
The scheme’s benchmark is the Nifty Midcap 150 – TRI.
NAV, expense and portfolio data: Accord Fintech. Calculations: ThePip. For information only; not investment advice.