HSBC Midcap Fund
Mid CapVery HighOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹463.04-2.72%1 day
- Return since launch
- 19.0%
- 52-week range
- ₹362.73 — ₹485.33
- AUM
- ₹17,188 Cr
HSBC Midcap Fund is a Mid Cap equity fund from HSBC Mutual Fund with ₹17,188 Cr under management, launched in 2004. Over three years it has returned 17.0% a year, against 15.7% for its category. The expense ratio is 2.25% 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 +17.2% against +5.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 21.7% | +15.3 pts | 6.4% | 6.0% |
| 2Y | 16.8% | +9.6 pts | 7.2% | 6.3% |
| 3Y | 17.0% | +1.3 pts | 15.7% | 8.5% |
| 5Y | 20.7% | +6.6 pts | 14.1% | 14.1% |
| 7Y | 21.3% | +2.8 pts | 18.5% | 17.4% |
| 10Y | 18.1% | +3.0 pts | 15.1% | 15.8% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -2.5% | +1.2 pts | -3.7% | -4.0% |
| 3M | 1.6% | +1.0 pts | 0.6% | -0.0% |
| 6M | 22.3% | +9.0 pts | 13.3% | 11.8% |
| 1Y | 17.2% | +10.8 pts | 6.4% | 5.2% |
| 2Y | 6.3% | +5.4 pts | 0.9% | 0.4% |
| 3Y | 22.3% | +6.6 pts | 15.7% | 14.5% |
| 5Y | 16.9% | +2.8 pts | 14.1% | 13.3% |
| 7Y | 20.2% | +0.5 pts | 19.7% | 18.2% |
| 10Y | 16.2% | +1.1 pts | 15.1% | 13.9% |
Since launch (25 Jun 2004): 19.0%
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
2.21%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.43%
- Brokerage
- 0.15%
- Transaction charges
- 0.01%
- Statutory levies
- 0.62%
- 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 | 6.63 | 4.76 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 1.04 | 0.98 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.94 | 0.90 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.13 | 1.18 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 20.02 | 18.15 | 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 31 Aug 2026
Asset allocation
- Equity99.2%
- Other0.8%
Market cap split
- Large5.1%
- Mid68.8%
- Small26.1%
- P/E
- 44.88
- P/B
- 5.54
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Lenskart Solutions Ltd. | Consumer Discretionary | 4.81% | ₹826 Cr | +4.21% | +3.61% | — |
| Meesho Ltd. | Services | 4.00% | ₹687 Cr | +1.74% | — | — |
| The Federal Bank Ltd. | Financial | 3.96% | ₹681 Cr | +3.65% | +3.95% | +1.34% |
| Piramal Finance Ltd. | Financial | 3.92% | ₹674 Cr | +3.51% | +2.59% | — |
| PB Fintech Ltd. | Services | 3.87% | ₹665 Cr | +4.24% | +3.28% | +1.67% |
| FSN E-Commerce Ventures Ltd. | Services | 3.61% | ₹621 Cr | +4.51% | +5.22% | +2.85% |
| Ather Energy Ltd. | Automobile | 3.57% | ₹614 Cr | +0.98% | — | — |
| Apar Industries Ltd. | Consumer Staples | 3.38% | ₹580 Cr | +1.85% | +1.55% | +0.02% |
| GE Vernova T&D India Ltd | Capital Goods | 3.20% | ₹550 Cr | +4.66% | +4.58% | +3.68% |
| Bharat Forge Ltd. | Automobile | 2.79% | ₹480 Cr | +2.60% | +0.96% | 0.00% |
| Radico Khaitan Ltd. | Consumer Staples | 2.70% | ₹464 Cr | +1.96% | +1.69% | +1.93% |
| Aditya Infotech Ltd. | Communication | 2.64% | ₹454 Cr | +3.19% | +2.31% | +1.20% |
| Mahindra & Mahindra Financial Services Ltd. | Financial | 2.27% | ₹391 Cr | 0.00% | 0.00% | +0.05% |
| Hitachi Energy India Ltd. | Capital Goods | 2.19% | ₹376 Cr | +3.17% | +3.87% | +1.88% |
| Nippon Life India Asset Management Ltd. | Financial | 2.16% | ₹371 Cr | +2.19% | +1.60% | +3.27% |
| JSW Energy Ltd. | Capital Goods | 2.13% | ₹366 Cr | +1.89% | — | +0.02% |
| Netweb Technologies India Ltd. | Technology | 2.11% | ₹362 Cr | +2.29% | — | — |
| Mankind Pharma Ltd. | Healthcare | 2.10% | ₹361 Cr | +1.71% | +1.03% | +0.06% |
| Navin Fluorine International Ltd. | Chemicals | 2.06% | ₹355 Cr | +0.65% | — | — |
| Thyrocare Technologies Ltd. | Healthcare | 1.99% | ₹342 Cr | +1.55% | +1.38% | — |
| Zydus Lifesciences Ltd. | Healthcare | 1.98% | ₹341 Cr | — | — | — |
| Coforge Ltd. | Technology | 1.92% | ₹330 Cr | +0.04% | +1.49% | +3.55% |
| Thermax Ltd. | Capital Goods | 1.88% | ₹323 Cr | +1.90% | — | 0.00% |
| Cochin Shipyard Ltd. | Capital Goods | 1.80% | ₹310 Cr | — | — | — |
| AU Small Finance Bank Ltd. | Financial | 1.78% | ₹306 Cr | — | — | — |
| Data Patterns (India) Ltd. | Capital Goods | 1.77% | ₹303 Cr | +0.75% | 0.00% | +0.16% |
| Ipca Laboratories Ltd. | Healthcare | 1.75% | ₹301 Cr | +1.21% | +0.03% | +0.03% |
| Aditya Birla Capital Ltd. | Financial | 1.74% | ₹300 Cr | +0.48% | +1.34% | +1.92% |
| Prestige Estates Projects Ltd. | Construction | 1.73% | ₹298 Cr | — | — | 0.00% |
| KFin Technologies Ltd. | Financial | 1.67% | ₹287 Cr | — | — | — |
| Ashok Leyland Ltd. | Automobile | 1.65% | ₹283 Cr | 0.00% | +5.30% | +2.37% |
| City Union Bank Ltd. | Financial | 1.64% | ₹282 Cr | +1.65% | +2.10% | — |
| Multi Commodity Exchange Of India Ltd. | Services | 1.63% | ₹280 Cr | +1.83% | +2.81% | +2.61% |
| Indian Bank | Financial | 1.57% | ₹270 Cr | +2.44% | +1.91% | +0.02% |
| company:17109 | Services | 1.47% | ₹252 Cr | — | — | — |
| Shadowfax Technologies Ltd. | Services | 1.44% | ₹247 Cr | — | — | — |
| Godfrey Phillips India Ltd. | Consumer Staples | 1.36% | ₹233 Cr | +1.78% | +1.88% | +3.51% |
| Avalon Technologies Ltd. | Capital Goods | 1.34% | ₹230 Cr | +0.94% | +0.72% | — |
| Indusind Bank Ltd. | Financial | 1.28% | ₹220 Cr | — | — | — |
| Poly Medicure Ltd. | Healthcare | 1.26% | ₹217 Cr | — | — | — |
| TD Power Systems Ltd. | Capital Goods | 1.22% | ₹210 Cr | +1.66% | +1.03% | — |
| Lupin Ltd. | Healthcare | 1.17% | ₹201 Cr | +1.96% | — | — |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 0.98% | ₹168 Cr | +0.01% | +0.16% | +2.38% |
| Atlanta Electricals Ltd. | Capital Goods | 0.96% | ₹166 Cr | +1.25% | — | — |
| company:20770 | Capital Goods | 0.81% | ₹139 Cr | — | — | — |
| Others | Others | 0.77% | ₹130 Cr | -2.82% | +0.18% | -0.16% |
| Triveni Turbine Ltd. | Construction | 0.73% | ₹126 Cr | +0.77% | — | — |
| Kirloskar Oil Engines Ltd. | Capital Goods | 0.33% | ₹56.20 Cr | +1.40% | +1.49% | — |
| TVS Motor Company Ltd. | Automobile | 0.31% | ₹53.03 Cr | 0.00% | 0.00% | +0.18% |
| Safari Industries (India) Ltd. | Consumer Discretionary | 0.12% | ₹21.26 Cr | +0.71% | +1.17% | +1.48% |
| Bosch Home Comfort India Ltd. | Consumer Discretionary | 0.08% | ₹14.50 Cr | +0.08% | +0.10% | +0.13% |
| Syngene International Ltd. | Healthcare | 0.07% | ₹11.60 Cr | +1.50% | — | — |
| Crisil Ltd. | Services | 0.05% | ₹7.95 Cr | +0.05% | +1.01% | +1.25% |
| IDFC First Bank Ltd. | Financial | 0.03% | ₹6.00 Cr | +0.03% | +0.43% | +0.90% |
| Kei Industries Ltd. | Capital Goods | 0.03% | ₹4.36 Cr | +0.78% | +0.92% | +1.31% |
| Max Financial Services Ltd. | Financial | 0.03% | ₹4.99 Cr | +0.04% | +2.93% | +2.74% |
| Muthoot Finance Ltd. | Financial | 0.03% | ₹4.64 Cr | +0.04% | +1.02% | +2.03% |
| CreditAccess Grameen Ltd. | Financial | 0.02% | ₹2.72 Cr | +0.35% | — | — |
| Dixon Technologies (India) Ltd. | Capital Goods | 0.02% | ₹3.96 Cr | +0.02% | +1.12% | +4.00% |
| JK Cement Ltd. | Materials | 0.02% | ₹3.59 Cr | +0.03% | +0.48% | +0.63% |
| Mazagon Dock Shipbuilders Ltd. | Capital Goods | 0.02% | ₹4.09 Cr | +0.03% | +0.03% | +1.91% |
| Swiggy Ltd. | Services | 0.02% | ₹2.73 Cr | +0.02% | +0.02% | +0.03% |
| ACME Solar Holdings Ltd. | Energy | 0.01% | ₹1.67 Cr | — | — | — |
| Anthem Biosciences Ltd. | Healthcare | 0.01% | ₹1.55 Cr | +0.34% | +1.74% | +1.47% |
| Bharti Hexacom Ltd. | Communication | 0.01% | ₹1.95 Cr | +0.36% | +1.88% | +1.60% |
| Kaynes Technology India Ltd. | Capital Goods | 0.01% | ₹1.51 Cr | +0.71% | +0.03% | +2.95% |
| Max Healthcare Institute Ltd. | Healthcare | 0.01% | ₹1.09 Cr | +0.01% | +0.01% | +4.28% |
| Persistent Systems Ltd. | Technology | 0.01% | ₹2.37 Cr | +0.02% | +1.07% | +2.59% |
| Eternal Ltd. | Services | 0.00% | ₹0.86 Cr | 0.00% | +1.31% | +4.70% |
| Biocon Ltd. | Healthcare | 0.00% | ₹0.85 Cr | +0.01% | +0.01% | +1.48% |
| Schaeffler India Ltd. | Capital Goods | 0.00% | ₹0.60 Cr | +0.44% | — | — |
| Billionbrains Garage Ventures Ltd. | Financial | 0.00% | ₹0.37 Cr | +3.23% | +2.86% | — |
| Abbott India Ltd. | Healthcare | 0.00% | ₹0.29 Cr | 0.00% | 0.00% | +1.08% |
| Gabriel India Ltd. | Automobile | 0.00% | ₹0.21 Cr | 0.00% | +0.36% | — |
| BSE Ltd. | Services | 0.00% | ₹0.10 Cr | +4.34% | +3.35% | +2.47% |
| NTPC Green Energy Ltd. | Energy | 0.00% | ₹0.06 Cr | +0.98% | +0.02% | +1.28% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Ather Energy Ltd. | 2.02% | 3.57% | +1.55% |
| ICICI Prudential Asset Management Company Ltd. | 1.48% | 0.00% | -1.48% |
| company:17109 | 0.00% | 1.47% | +1.47% |
| Syngene International Ltd. | 1.20% | 0.07% | -1.13% |
| Polycab India Ltd. | 1.10% | 0.00% | -1.10% |
| Kei Industries Ltd. | 1.08% | 0.03% | -1.05% |
| KFin Technologies Ltd. | 0.69% | 1.67% | +0.98% |
| Navin Fluorine International Ltd. | 1.09% | 2.06% | +0.97% |
| The Federal Bank Ltd. | 4.91% | 3.96% | -0.95% |
| Billionbrains Garage Ventures Ltd. | 0.90% | 0.00% | -0.90% |
| Apar Industries Ltd. | 2.51% | 3.38% | +0.87% |
| company:20770 | 0.00% | 0.81% | +0.81% |
| Zydus Lifesciences Ltd. | 1.18% | 1.98% | +0.80% |
| Lenskart Solutions Ltd. | 4.13% | 4.81% | +0.68% |
| Multi Commodity Exchange Of India Ltd. | 0.96% | 1.63% | +0.67% |
| Meesho Ltd. | 3.34% | 4.00% | +0.66% |
| Coforge Ltd. | 1.26% | 1.92% | +0.66% |
| Shadowfax Technologies Ltd. | 0.78% | 1.44% | +0.66% |
| Mahindra & Mahindra Financial Services Ltd. | 2.88% | 2.27% | -0.61% |
| Avalon Technologies Ltd. | 0.89% | 1.34% | +0.45% |
| Bharat Forge Ltd. | 3.22% | 2.79% | -0.43% |
| FSN E-Commerce Ventures Ltd. | 4.04% | 3.61% | -0.43% |
| Thermax Ltd. | 2.29% | 1.88% | -0.41% |
| Ashok Leyland Ltd. | 1.24% | 1.65% | +0.41% |
| JSW Energy Ltd. | 2.51% | 2.13% | -0.38% |
| CreditAccess Grameen Ltd. | 0.39% | 0.02% | -0.37% |
| Thyrocare Technologies Ltd. | 1.63% | 1.99% | +0.36% |
| BSE Ltd. | 0.32% | 0.00% | -0.32% |
| Poly Medicure Ltd. | 0.96% | 1.26% | +0.30% |
| JSW Steel Ltd. | 0.28% | 0.00% | -0.28% |
| Aditya Infotech Ltd. | 2.92% | 2.64% | -0.28% |
| Mankind Pharma Ltd. | 2.37% | 2.10% | -0.27% |
| Kirloskar Oil Engines Ltd. | 0.60% | 0.33% | -0.27% |
| TVS Motor Company Ltd. | 0.58% | 0.31% | -0.27% |
| Piramal Finance Ltd. | 3.66% | 3.92% | +0.26% |
| Lupin Ltd. | 1.42% | 1.17% | -0.25% |
| Others | -0.15% | -0.39% | -0.24% |
| GE Vernova T&D India Ltd | 3.43% | 3.20% | -0.23% |
| PB Fintech Ltd. | 3.64% | 3.87% | +0.23% |
| Radico Khaitan Ltd. | 2.48% | 2.70% | +0.22% |
| Nippon Life India Asset Management Ltd. | 2.36% | 2.16% | -0.20% |
| Aditya Birla Capital Ltd. | 1.90% | 1.74% | -0.16% |
| Godfrey Phillips India Ltd. | 1.52% | 1.36% | -0.16% |
| Prestige Estates Projects Ltd. | 1.89% | 1.73% | -0.16% |
| Indusind Bank Ltd. | 1.41% | 1.28% | -0.13% |
| AU Small Finance Bank Ltd. | 1.89% | 1.78% | -0.11% |
| Hitachi Energy India Ltd. | 2.30% | 2.19% | -0.11% |
| Hindalco Industries Ltd. | 0.09% | 0.00% | -0.09% |
| Netweb Technologies India Ltd. | 2.03% | 2.11% | +0.08% |
| Cochin Shipyard Ltd. | 1.87% | 1.80% | -0.07% |
| Data Patterns (India) Ltd. | 1.84% | 1.77% | -0.07% |
| Atlanta Electricals Ltd. | 0.89% | 0.96% | +0.07% |
| TD Power Systems Ltd. | 1.16% | 1.22% | +0.06% |
| Indian Bank | 1.62% | 1.57% | -0.05% |
| CG Power and Industrial Solutions Ltd. | 1.02% | 0.98% | -0.04% |
| Ipca Laboratories Ltd. | 1.71% | 1.75% | +0.04% |
| Safari Industries (India) Ltd. | 0.14% | 0.12% | -0.02% |
| City Union Bank Ltd. | 1.63% | 1.64% | +0.01% |
| Triveni Turbine Ltd. | 0.72% | 0.73% | +0.01% |
| IDFC First Bank Ltd. | 0.04% | 0.03% | -0.01% |
| Persistent Systems Ltd. | 0.02% | 0.01% | -0.01% |
| Sundaram Finance Ltd. | 0.01% | 0.00% | -0.01% |
| Mazagon Dock Shipbuilders Ltd. | 0.03% | 0.02% | -0.01% |
| Bosch Home Comfort India Ltd. | 0.07% | 0.08% | +0.01% |
| Biocon Ltd. | 0.01% | 0.00% | -0.01% |
| Eternal Ltd. | 0.01% | 0.00% | -0.01% |
| National Aluminium Company Ltd. | 0.00% | 0.00% | 0.00% |
| Schaeffler India 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% |
| NTPC Green Energy Ltd. | 0.00% | 0.00% | 0.00% |
| ACME Solar Holdings Ltd. | 0.01% | 0.01% | 0.00% |
| Anthem Biosciences Ltd. | 0.01% | 0.01% | 0.00% |
| Bharti Hexacom Ltd. | 0.01% | 0.01% | 0.00% |
| Crisil Ltd. | 0.05% | 0.05% | 0.00% |
| Dixon Technologies (India) Ltd. | 0.02% | 0.02% | 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% |
| Muthoot Finance Ltd. | 0.03% | 0.03% | 0.00% |
| Swiggy Ltd. | 0.02% | 0.02% | 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 | ₹12,921 Cr | 1.96% | 10.3% | 13.7% | 18.5% |
 Edelweiss Mid Cap Fund | ₹19,891 Cr | 1.86% | 4.8% | 10.7% | 17.2% |
 Invesco India Mid Cap Fund | ₹15,905 Cr | 1.88% | 13.6% | 15.9% | 20.4% |
 ICICI Prudential Mid Cap Fund | ₹8,403 Cr | 1.83% | 9.3% | 13.6% | 17.9% |
 WhiteOak Capital Mid Cap Fund | ₹7,485 Cr | 2.25% | 13.5% | 14.5% | — |
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.
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 months22.27% absolute | ₹60,000 | ₹73,362 | 22.27% | |
| 1 year17.18% annualised | ₹1,20,000 | ₹1,31,775 | 9.81% | |
| 3 years22.30% annualised | ₹3,60,000 | ₹5,15,412 | 43.17% | |
| 5 years16.95% annualised | ₹6,00,000 | ₹9,47,718 | 57.95% |
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 ₹463.04 as on 24 Sep 2026.
What is the expense ratio of HSBC Midcap Fund?
The expense ratio of HSBC Midcap Fund is 2.25% 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 21.7% over 1 year, 17.0% over 3 years and 20.7% 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 ₹1,44,068 Cr under management.