HDFC Midcap Fund: Stellar Wealth Creation Track Record

HDFC Midcap Fund will complete 20 years next year. The fund aims to invest primarily in midcap companies (101^st to 250^th companies by market cap) which have reasonable growth prospects, sound financial strength, sustainable business models and acceptable valuation that offers potential for capital appreciation. The fund has a strong track record of wealth creation. If you had invested Rs 1 lakh in the fund at the time of its inception, your investment would have multiplied more than 20X to Rs 20.6 lakhs. If you started a SIP of Rs 10,000 fund since its inception, the market value of your investment would have grown to Rs 1.87 crores (as on 22^nd July 2026).

Outperformed the benchmark since inception

The chart below shows the growth of Rs 1 lakh investment in HDFC Midcap fund versus the benchmark index, Nifty Midcap 150 TRI since the inception of the fund. You can see that the fund has outperformed the benchmark since its inception.

Source: Advisorkhoj Research, as on 22^nd June 2026

Outperformed benchmark index across different market conditions

The chart below shows the 5 year rolling returns of the HDFC Midcap Fund versus the benchmark index since the inception of the fund. You can see that the fund was able to outperform the benchmark index in most periods.

Source: Advisorkhoj Research, as on 22^nd June 2026

The table below shows the rolling returns distribution of the HDFC Midcap Fund versus the benchmark index for different investment tenures. You can see that the fund experienced lesser instances of the negative returns compared to the benchmark index. At the same the fund gave higher number of instances of 12%+ CAGR returns compared to the benchmark. The fund gave better risk / return trade off compared to the benchmark index.

Source: Advisorkhoj Research, as on 22^nd June 2026. Fund - HDFC Midcap Fund. Benchmark: Nifty Midcap 150 TRI

Limited downside risks for investors

The chart below shows the drawdowns of the HDFC Midcap Fund versus the benchmark index since the inception of the fund. You can see that the fund experienced smaller drawdowns to the index.

Source: Advisorkhoj Research, as on 22^nd June 2026

The table below shows the major drawdowns of HDFC Midcap Fund versus benchmark index. You can see that the fund experienced lesser drawdowns in almost all major drawdowns.

Source: Advisorkhoj Research, as on 22^nd June 2026. Fund - HDFC Midcap Fund. Benchmark: Nifty Midcap 150 TRI

SIP performance

The chart below shows the growth of Rs 10,000 monthly SIP in HDFC Midcap Fund versus the benchmark index since the inception of the scheme. You can see that the SIP returns of the fund outperformed the benchmark.

Source: Advisorkhoj Research, as on 22^nd June 2026

The chart below shows the 10 year SIP rolling XIRR of HDFC Midcap Fund since the inception of the scheme. You can see that the fund almost always gave double digit SIP XIRR despite market conditions for 10 year SIP tenures.

Source: Advisorkhoj Research, as on 22^nd June 2026

The table below shows the rolling SIP XIRR distribution for different SIP tenures. You can see that for longer investment tenures probability of negative returns is zero. Also for 10 years plus investment tenures percentage instances of double digit SIP XIRR returns is almost 100%.

Source: Advisorkhoj Research, as on 22^nd June 2026

Investment strategy

Current portfolio positioning

Source: HDFC MF, as on 31^st May 2026

Why invest in HDFC Midcap Fund?

• Opportunity to invest in a portfolio of predominantly mid-sized companies. Mid-sized have the potential of giving higher returns than large sized companies in the long term


• Aims to provide diversification to an investor's overall equity mutual fund portfolio


• Experienced fund management and research teams with a track record of managing equity assets across market cycles


• Emphasis on risk management - portfolio diversification across stocks and sectors; focus on good quality business


• One of the largest fund in the mid-cap category with a track record of nearly 20 years.

Who can find HDFC Midcap Fund suitable?

• Investors seeking capital appreciation and wealth creation over long investment tenures


• Investors who want to invest for their long term financial goals


• Investors who want exposure across market cap segments


• Investors with sufficiently high risk appetites


• Investors with minimum investment tenures of 5 years


• Investors who want to invest from their monthly savings through SIP

Investors should consult with their financial advisors or mutual fund distributors if HDFC Midcap Fund is suitable for their investment needs.