According to reports from Personal Finance News, the Motilal Oswal Mid Cap Fund emerged as the clear leader in SIP performance, generating ₹17.8 lakh from a ₹5,000 monthly SIP over 10 years. The fund launched on February 24, 2014, and delivered a CAGR of 21.90% since inception. The HDFC Mid Cap Fund followed closely with ₹17.3 lakh in SIP value, while the Kotak Midcap Fund generated ₹17.2 lakh despite having a lower CAGR of 20.33%. The Nippon India Growth Mid Cap Fund delivered ₹18.0 lakh with a CAGR of 18.40%, and the Axis Mid Cap Fund generated ₹15.8 lakh with a CAGR of 18.87%.
As reported by Personal Finance News, funds with higher large-cap allocations demonstrated superior SIP performance. The Motilal Oswal Mid Cap Fund and Nippon India Growth Mid Cap Fund maintained large-cap allocations of 26.25% and 22.59% respectively as of June 30, 2026. These funds generated higher SIP values than schemes with lower large-cap exposure. The Axis Mid Cap Fund showed the lowest large-cap allocation at 18.18% and had the lowest SIP value among the five schemes. The Motilal Oswal Mid Cap Fund also maintained the lowest small-cap allocation at just 1.49%, while three of the other four schemes had double-digit small-cap allocations.
According to the analysis, each scheme demonstrated leadership in different investment periods, suggesting no single winner across all timeframes. The Nippon India Growth Mid Cap Fund led over the 3-year period with 21.90% returns, while the Motilal Oswal Mid Cap Fund outperformed others over 3-month and 5-year periods with 11.36% and 22.99% returns respectively. The HDFC Mid Cap Fund led the 1-year period with 10.98% returns, and the Axis Mid Cap Fund delivered 9.26% returns over the 6-month period. The Kotak Midcap Fund showed consistent performance across multiple periods, though it was not the top performer in any single timeframe. Recent data shows the Invesco India Mid Cap Fund Direct Growth has delivered impressive returns with +26.3% over 1 year and +20.9% over 3 years, ranking first in the equity mid-cap category.
As reported by Personal Finance News, all five schemes are benchmarked against different indices, with Axis Mid Cap Fund tracking the BSE Midcap 150 TRI while the others follow the Nifty Midcap 150 TRI. The analysis notes that funds with higher large-cap allocations generally generated higher SIP values, and that performance can vary significantly across schemes, market cycles, and portfolio strategies. The Invesco India Mid Cap Fund Direct Growth exemplifies this trend, with a CAGR of 21.90% over 3 years and ₹19.10 lakh returns from a ₹6,00,000 investment over 10 years. The study emphasizes that investors should evaluate performance across multiple periods rather than relying on returns from a single timeframe, given the shifting leadership patterns observed across different investment horizons.
