HSBC Midcap Fund
Mid CapVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹457.44+0.67%1 day
- Return since launch
- 18.6%
- 52-week range
- ₹362.73 — ₹485.33
- AUM
- ₹16,800 Cr
HSBC Midcap Fund is a Mid Cap equity fund from HSBC Mutual Fund with ₹16,800 Cr under management, launched in 2004. Over three years it has returned 14.1% a year, against 14.8% for its category. The expense ratio is 2.16% and the SEBI riskometer reading is Very High.
Performance
HSBC Midcap Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +13.8% against +1.9% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 15.2% | +11.6 pts | 3.6% | 3.6% |
| 2Y | 14.6% | +8.3 pts | 6.3% | 5.2% |
| 3Y | 14.1% | −0.7 pts | 14.8% | 6.6% |
| 5Y | 19.0% | +6.3 pts | 12.8% | 12.7% |
| 7Y | 20.0% | +2.7 pts | 17.3% | 16.2% |
| 10Y | 17.4% | +2.3 pts | 15.1% | 15.2% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.8% | −2.0 pts | 2.8% | 2.5% |
| 3M | -2.4% | +1.0 pts | -3.4% | -4.2% |
| 6M | 5.5% | +3.2 pts | 2.3% | 0.9% |
| 1Y | 14.3% | +10.7 pts | 3.6% | 2.1% |
| 2Y | 8.5% | +4.7 pts | 3.9% | 3.4% |
| 3Y | 20.2% | +5.4 pts | 14.8% | 13.6% |
| 5Y | 16.2% | +3.4 pts | 12.8% | 11.9% |
| 7Y | 19.7% | +0.4 pts | 19.3% | 17.8% |
| 10Y | 15.8% | +0.7 pts | 15.1% | 13.8% |
Since launch (25 Jun 2004): 18.6%
Calendar-year returns
Category average19.0%
31.8%
-0.6%
40.0%
39.3%
-1.3%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | -1.3% | −4.4 pts | 3.1% |
| 2024 | 39.3% | +9.0 pts | 30.3% |
| 2023 | 40.0% | +1.3 pts | 38.7% |
| 2022 | -0.6% | −4.4 pts | 3.8% |
| 2021 | 31.8% | −14.1 pts | 45.8% |
| 2020 | 19.0% | −6.5 pts | 25.5% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
2.15%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.43%
- Brokerage
- 0.13%
- Transaction charges
- 0.01%
- Statutory levies
- 0.58%
- Exit load
- Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY Midcap 150 TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | 5.92 | 4.78 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 1.05 | 0.99 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.73 | 0.71 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.92 | 0.97 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 20.76 | 18.88 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
HSBC Midcap Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity99.2%
- Other0.8%
Market cap split
- Large4.7%
- Mid65.9%
- Small29.4%
- P/E
- 41.87
- P/B
- 5.06
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Lenskart Solutions Ltd. | Consumer Discretionary | 5.08% | ₹854 Cr | +3.84% | +3.68% | — |
| Meesho Ltd. | Services | 5.04% | ₹847 Cr | +2.87% | — | — |
| The Federal Bank Ltd. | Financial | 3.90% | ₹655 Cr | +4.21% | +3.75% | +1.32% |
| Aditya Infotech Ltd. | Communication | 3.64% | ₹612 Cr | +3.54% | +3.00% | +1.38% |
| Piramal Finance Ltd. | Financial | 3.56% | ₹599 Cr | +3.66% | +3.00% | — |
| FSN E-Commerce Ventures Ltd. | Services | 3.38% | ₹568 Cr | +4.67% | +5.08% | +2.84% |
| Apar Industries Ltd. | Consumer Staples | 3.16% | ₹530 Cr | +2.55% | +1.51% | +0.02% |
| GE Vernova T&D India Ltd | Capital Goods | 3.09% | ₹520 Cr | +3.98% | +4.75% | +3.70% |
| Ather Energy Ltd. | Automobile | 3.03% | ₹509 Cr | +1.73% | — | — |
| Dhoot Transmission Ltd. | Capital Goods | 2.91% | ₹489 Cr | — | — | — |
| Radico Khaitan Ltd. | Consumer Staples | 2.89% | ₹485 Cr | +2.28% | +1.84% | +1.92% |
| Zydus Lifesciences Ltd. | Healthcare | 2.82% | ₹474 Cr | — | — | — |
| Bharat Forge Ltd. | Automobile | 2.61% | ₹439 Cr | +3.19% | +1.38% | 0.00% |
| AU Small Finance Bank Ltd. | Financial | 2.34% | ₹394 Cr | +1.90% | — | — |
| Coforge Ltd. | Technology | 2.28% | ₹383 Cr | +0.04% | +0.04% | +3.22% |
| Hitachi Energy India Ltd. | Capital Goods | 2.28% | ₹384 Cr | +2.53% | +4.03% | +1.74% |
| Mankind Pharma Ltd. | Healthcare | 2.22% | ₹374 Cr | +2.47% | +1.01% | +0.06% |
| Mahindra & Mahindra Financial Services Ltd. | Financial | 2.03% | ₹340 Cr | +1.82% | 0.00% | +0.05% |
| Navin Fluorine International Ltd. | Chemicals | 2.01% | ₹337 Cr | +1.12% | — | — |
| Nippon Life India Asset Management Ltd. | Financial | 2.01% | ₹338 Cr | +2.39% | +1.52% | +3.20% |
| Netweb Technologies India Ltd. | Technology | 1.89% | ₹318 Cr | +2.06% | — | — |
| Thyrocare Technologies Ltd. | Healthcare | 1.80% | ₹302 Cr | +1.56% | +1.35% | — |
| Shadowfax Technologies Ltd. | Services | 1.77% | ₹297 Cr | — | — | — |
| Ipca Laboratories Ltd. | Healthcare | 1.75% | ₹294 Cr | +1.69% | +1.38% | +0.03% |
| Data Patterns (India) Ltd. | Capital Goods | 1.71% | ₹288 Cr | +1.62% | 0.00% | +0.17% |
| Thermax Ltd. | Capital Goods | 1.67% | ₹280 Cr | +2.78% | — | 0.00% |
| Aditya Birla Capital Ltd. | Financial | 1.66% | ₹279 Cr | +1.63% | +1.24% | +1.99% |
| City Union Bank Ltd. | Financial | 1.66% | ₹278 Cr | +1.67% | +1.95% | — |
| Indusind Bank Ltd. | Financial | 1.64% | ₹275 Cr | — | — | — |
| Multi Commodity Exchange Of India Ltd. | Services | 1.62% | ₹272 Cr | +1.63% | +1.86% | +2.71% |
| Cochin Shipyard Ltd. | Capital Goods | 1.60% | ₹270 Cr | +1.25% | — | — |
| Ashok Leyland Ltd. | Automobile | 1.48% | ₹249 Cr | 0.00% | +1.07% | +3.48% |
| Avalon Technologies Ltd. | Capital Goods | 1.48% | ₹249 Cr | +1.04% | +0.72% | +0.42% |
| KFin Technologies Ltd. | Financial | 1.48% | ₹249 Cr | — | — | — |
| One 97 Communications Ltd. | Services | 1.47% | ₹246 Cr | — | — | — |
| PB Fintech Ltd. | Services | 1.45% | ₹244 Cr | +3.76% | +3.47% | +1.58% |
| Indian Bank | Financial | 1.44% | ₹243 Cr | +1.93% | +2.07% | +0.02% |
| ACME Solar Holdings Ltd. | Energy | 1.33% | ₹224 Cr | +0.33% | — | — |
| TD Power Systems Ltd. | Capital Goods | 1.26% | ₹212 Cr | +1.45% | +1.40% | — |
| Godfrey Phillips India Ltd. | Consumer Staples | 1.25% | ₹210 Cr | +1.57% | +1.83% | +3.14% |
| Poly Medicure Ltd. | Healthcare | 1.23% | ₹207 Cr | +0.85% | — | — |
| Lupin Ltd. | Healthcare | 1.11% | ₹186 Cr | +1.94% | +1.99% | — |
| Prestige Estates Projects Ltd. | Construction | 1.09% | ₹183 Cr | — | — | 0.00% |
| JSW Energy Ltd. | Capital Goods | 0.95% | ₹160 Cr | +2.06% | — | +0.02% |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 0.93% | ₹157 Cr | +0.33% | +0.01% | +2.50% |
| Atlanta Electricals Ltd. | Capital Goods | 0.87% | ₹145 Cr | +1.07% | — | — |
| Others | Others | 0.82% | ₹128 Cr | -4.00% | +0.02% | -0.12% |
| Triveni Turbine Ltd. | Construction | 0.70% | ₹118 Cr | +0.67% | — | — |
| Kirloskar Oil Engines Ltd. | Capital Goods | 0.15% | ₹25.61 Cr | +0.96% | +1.56% | — |
| Safari Industries (India) Ltd. | Consumer Discretionary | 0.12% | ₹19.69 Cr | +0.40% | +1.02% | +1.48% |
| Syngene International Ltd. | Healthcare | 0.06% | ₹10.58 Cr | +1.39% | — | — |
| Crisil Ltd. | Services | 0.04% | ₹7.34 Cr | +0.04% | +0.59% | +1.09% |
| IDFC First Bank Ltd. | Financial | 0.03% | ₹5.68 Cr | +0.04% | +0.04% | +1.41% |
| Max Financial Services Ltd. | Financial | 0.03% | ₹4.36 Cr | +0.03% | +0.04% | +2.66% |
| Muthoot Finance Ltd. | Financial | 0.03% | ₹4.26 Cr | +0.03% | +0.04% | +2.12% |
| Dixon Technologies (India) Ltd. | Capital Goods | 0.02% | ₹3.50 Cr | +0.02% | +0.79% | +3.85% |
| JK Cement Ltd. | Materials | 0.02% | ₹3.55 Cr | +0.02% | +0.03% | +0.56% |
| Kei Industries Ltd. | Capital Goods | 0.02% | ₹3.38 Cr | +1.19% | +0.80% | +1.37% |
| Mazagon Dock Shipbuilders Ltd. | Capital Goods | 0.02% | ₹3.49 Cr | +0.03% | +0.03% | +1.99% |
| Anthem Biosciences Ltd. | Healthcare | 0.01% | ₹1.49 Cr | +0.32% | +1.79% | +1.35% |
| Bharti Hexacom Ltd. | Communication | 0.01% | ₹1.79 Cr | +0.10% | +2.36% | +1.47% |
| Kaynes Technology India Ltd. | Capital Goods | 0.01% | ₹1.43 Cr | +0.33% | +0.98% | +3.34% |
| Max Healthcare Institute Ltd. | Healthcare | 0.01% | ₹0.97 Cr | +0.01% | +0.01% | +4.07% |
| Persistent Systems Ltd. | Technology | 0.01% | ₹2.24 Cr | +0.01% | +0.32% | +2.32% |
| Swiggy Ltd. | Services | 0.01% | ₹2.42 Cr | +0.02% | +0.02% | +0.03% |
| TVS Motor Company Ltd. | Automobile | 0.01% | ₹1.33 Cr | +0.48% | 0.00% | +0.19% |
| Eternal Ltd. | Services | 0.00% | ₹0.84 Cr | 0.00% | +0.33% | +4.80% |
| Biocon Ltd. | Healthcare | 0.00% | ₹0.76 Cr | +0.01% | +0.01% | +0.59% |
| Schaeffler India Ltd. | Capital Goods | 0.00% | ₹0.58 Cr | +0.41% | +0.51% | — |
| Billionbrains Garage Ventures Ltd. | Financial | 0.00% | ₹0.36 Cr | +3.28% | +2.88% | — |
| Abbott India Ltd. | Healthcare | 0.00% | ₹0.31 Cr | 0.00% | 0.00% | +0.66% |
| Gabriel India Ltd. | Automobile | 0.00% | ₹0.19 Cr | 0.00% | +0.23% | — |
| NTPC Green Energy Ltd. | Energy | 0.00% | ₹0.07 Cr | +0.53% | +1.39% | +0.02% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| PB Fintech Ltd. | 3.87% | 1.45% | -2.42% |
| Dhoot Transmission Ltd. | 0.81% | 2.91% | +2.10% |
| ACME Solar Holdings Ltd. | 0.01% | 1.33% | +1.32% |
| JSW Energy Ltd. | 2.13% | 0.95% | -1.18% |
| Meesho Ltd. | 4.00% | 5.04% | +1.04% |
| Aditya Infotech Ltd. | 2.64% | 3.64% | +1.00% |
| Zydus Lifesciences Ltd. | 1.98% | 2.82% | +0.84% |
| Prestige Estates Projects Ltd. | 1.73% | 1.09% | -0.64% |
| AU Small Finance Bank Ltd. | 1.78% | 2.34% | +0.56% |
| Ather Energy Ltd. | 3.57% | 3.03% | -0.54% |
| Coforge Ltd. | 1.92% | 2.28% | +0.36% |
| Indusind Bank Ltd. | 1.28% | 1.64% | +0.36% |
| Piramal Finance Ltd. | 3.92% | 3.56% | -0.36% |
| Shadowfax Technologies Ltd. | 1.44% | 1.77% | +0.33% |
| TVS Motor Company Ltd. | 0.31% | 0.01% | -0.30% |
| Lenskart Solutions Ltd. | 4.81% | 5.08% | +0.27% |
| Mahindra & Mahindra Financial Services Ltd. | 2.27% | 2.03% | -0.24% |
| FSN E-Commerce Ventures Ltd. | 3.61% | 3.38% | -0.23% |
| Netweb Technologies India Ltd. | 2.11% | 1.89% | -0.22% |
| Apar Industries Ltd. | 3.38% | 3.16% | -0.22% |
| Thermax Ltd. | 1.88% | 1.67% | -0.21% |
| Cochin Shipyard Ltd. | 1.80% | 1.60% | -0.20% |
| KFin Technologies Ltd. | 1.67% | 1.48% | -0.19% |
| Radico Khaitan Ltd. | 2.70% | 2.89% | +0.19% |
| Thyrocare Technologies Ltd. | 1.99% | 1.80% | -0.19% |
| Bharat Forge Ltd. | 2.79% | 2.61% | -0.18% |
| Kirloskar Oil Engines Ltd. | 0.33% | 0.15% | -0.18% |
| Ashok Leyland Ltd. | 1.65% | 1.48% | -0.17% |
| Nippon Life India Asset Management Ltd. | 2.16% | 2.01% | -0.15% |
| Others | -0.39% | -0.25% | +0.14% |
| Avalon Technologies Ltd. | 1.34% | 1.48% | +0.14% |
| Indian Bank | 1.57% | 1.44% | -0.13% |
| Mankind Pharma Ltd. | 2.10% | 2.22% | +0.12% |
| GE Vernova T&D India Ltd | 3.20% | 3.09% | -0.11% |
| Godfrey Phillips India Ltd. | 1.36% | 1.25% | -0.11% |
| Atlanta Electricals Ltd. | 0.96% | 0.87% | -0.09% |
| Hitachi Energy India Ltd. | 2.19% | 2.28% | +0.09% |
| Aditya Birla Capital Ltd. | 1.74% | 1.66% | -0.08% |
| Bosch Home Comfort India Ltd. | 0.08% | 0.00% | -0.08% |
| Data Patterns (India) Ltd. | 1.77% | 1.71% | -0.06% |
| The Federal Bank Ltd. | 3.96% | 3.90% | -0.06% |
| Lupin Ltd. | 1.17% | 1.11% | -0.06% |
| Navin Fluorine International Ltd. | 2.06% | 2.01% | -0.05% |
| CG Power and Industrial Solutions Ltd. | 0.98% | 0.93% | -0.05% |
| TD Power Systems Ltd. | 1.22% | 1.26% | +0.04% |
| Poly Medicure Ltd. | 1.26% | 1.23% | -0.03% |
| Triveni Turbine Ltd. | 0.73% | 0.70% | -0.03% |
| City Union Bank Ltd. | 1.64% | 1.66% | +0.02% |
| CreditAccess Grameen Ltd. | 0.02% | 0.00% | -0.02% |
| Syngene International Ltd. | 0.07% | 0.06% | -0.01% |
| Crisil Ltd. | 0.05% | 0.04% | -0.01% |
| Swiggy Ltd. | 0.02% | 0.01% | -0.01% |
| Kei Industries Ltd. | 0.03% | 0.02% | -0.01% |
| Multi Commodity Exchange Of India Ltd. | 1.63% | 1.62% | -0.01% |
| BSE Ltd. | 0.00% | 0.00% | 0.00% |
| Biocon Ltd. | 0.00% | 0.00% | 0.00% |
| Abbott India Ltd. | 0.00% | 0.00% | 0.00% |
| Gabriel India Ltd. | 0.00% | 0.00% | 0.00% |
| Billionbrains Garage Ventures Ltd. | 0.00% | 0.00% | 0.00% |
| NTPC Green Energy Ltd. | 0.00% | 0.00% | 0.00% |
| Schaeffler India Ltd. | 0.00% | 0.00% | 0.00% |
| Eternal Ltd. | 0.00% | 0.00% | 0.00% |
| Anthem Biosciences Ltd. | 0.01% | 0.01% | 0.00% |
| Bharti Hexacom Ltd. | 0.01% | 0.01% | 0.00% |
| Dixon Technologies (India) Ltd. | 0.02% | 0.02% | 0.00% |
| IDFC First Bank Ltd. | 0.03% | 0.03% | 0.00% |
| Ipca Laboratories Ltd. | 1.75% | 1.75% | 0.00% |
| JK Cement Ltd. | 0.02% | 0.02% | 0.00% |
| Kaynes Technology India Ltd. | 0.01% | 0.01% | 0.00% |
| Max Financial Services Ltd. | 0.03% | 0.03% | 0.00% |
| Max Healthcare Institute Ltd. | 0.01% | 0.01% | 0.00% |
| Mazagon Dock Shipbuilders Ltd. | 0.02% | 0.02% | 0.00% |
| Muthoot Finance Ltd. | 0.03% | 0.03% | 0.00% |
| One 97 Communications Ltd. | 1.47% | 1.47% | 0.00% |
| Persistent Systems Ltd. | 0.01% | 0.01% | 0.00% |
| Safari Industries (India) Ltd. | 0.12% | 0.12% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹12,789 Cr | 1.95% | 7.4% | 11.4% | 17.0% |
 Edelweiss Mid Cap Fund | ₹19,230 Cr | 1.87% | 3.2% | 8.7% | 15.9% |
 Invesco India Mid Cap Fund | ₹15,832 Cr | 1.85% | 12.4% | 14.1% | 19.3% |
 WhiteOak Capital Mid Cap Fund | ₹8,400 Cr | 2.25% | 11.2% | 12.7% | — |
 ICICI Prudential Mid Cap Fund | ₹7,695 Cr | 1.83% | 2.9% | 10.3% | 15.9% |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate long-term capital growth from an actively managed portfolio of equity and equity related securities of predominantly mid cap companies.
Fund managers
- Cheenu GuptaMs. Gupta is CFA Charter holder (USA), PGDBM (Finance) & B.E. (I.T)Prior to joining HSBC Mutual Fund, she has worked with L&T Mutual Fund, Canara Robeco Mutual Fund, Tata AIA Life Insurance Company as Fund Manager, ING Investment Management as Senior Research Analyst and UTI AMC Ltd. as Research Analyst.
- Dipan S. ParikhMr. Parikh has done B.ComHe has been working with HSBC Mutual Fund since 2006
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
₹
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months5.51% absolute | ₹60,000 | ₹63,306 | 5.51% | |
| 1 year14.25% annualised | ₹1,20,000 | ₹1,29,678 | 8.07% | |
| 3 years20.20% annualised | ₹3,60,000 | ₹4,97,661 | 38.24% | |
| 5 years16.22% annualised | ₹6,00,000 | ₹9,28,262 | 54.71% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.
What is the NAV of HSBC Midcap Fund?
The NAV of HSBC Midcap Fund is ₹457.44 as on 9 Nov 2026.
What is the expense ratio of HSBC Midcap Fund?
The expense ratio of HSBC Midcap Fund is 2.16% per year.
What is the minimum SIP amount for HSBC Midcap Fund?
You can start a SIP in HSBC Midcap Fund with ₹3,000 a month.
What returns has HSBC Midcap Fund given?
HSBC Midcap Fund has returned 15.2% over 1 year, 14.1% over 3 years and 19.0% over 5 years (annualised).
Is there a lock-in or exit load on HSBC Midcap Fund?
Lock-in: None. Exit load: Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year..
How risky is HSBC Midcap Fund?
HSBC Midcap Fund is rated Very High on the SEBI riskometer and belongs to the Mid Cap category.
Which fund house manages HSBC Midcap Fund?
HSBC Midcap Fund is managed by HSBC Mutual Fund, which runs 44 schemes with ₹1,58,065 Cr under management.