Best Performing Mid-Cap Funds in 2022: Should You Invest?

Last Updated: 25 Jun 2024

Mid-cap mutual funds maintain a dynamic balance between risks and returns. While they are less risky than small-cap funds, the returns potential is higher than large-cap funds. This parity between risk and reward is what makes mid-cap funds an excellent choice for investors wanting to invest in equity mutual funds.

Which are the best performing mid-cap funds on 1-year returns?

Here is a list of the best performing mid-cap funds on 1-year mid-cap returns. Please note that 1-year returns may not be entirely reflective in the case of mid-cap funds, which are essentially long term investment products. However, the table will give you a good idea of the top performing mid-cap funds over 1 year period.

Fund Name	1 year Returns
PGIM India Midcap Opportunities Fund Direct Growth	65.3147
Baroda Mid-cap Fund Plan B (Direct) Growth Option	57.2727
Motilal Oswal Midcap 30 Direct Growth	56.7690
Baroda Mid-cap Fund Plan A Growth	55.7319
SBI Magnum Midcap Fund Direct Growth	53.3418
Quant Mid Cap Fund Growth Option Direct Plan	53.0946
Union Midcap Fund Direct Growth	52.1436
Edelweiss Mid Cap Fund Direct Plan Growth Option	51.4751
Mahindra Manulife Mid Cap Unnati Yojana Direct Growth	49.8278
Aditya Birla Sun Life Mid Cap Fund Direct Plan Growth	49.4898
Mirae Asset Midcap Fund Direct Growth	49.1414
Kotak Emerging Equity Scheme Direct Growth	47.8621
Principal Midcap Fund Direct Growth	46.7260
Nippon India Growth Fund – Direct Plan – Growth	46.1863
ICICI Prudential MidCap Fund Direct Plan Growth	44.2916
Invesco India Mid Cap Fund Direct Plan Growth Option	43.6721
BNP Paribas Mid Cap Fund Direct Plan Growth Option	42.6981
UTI Mid Cap Fund-Growth Option- Direct	42.3733
Tata Mid Cap Growth Fund Direct Plan Growth	40.6992
Axis Midcap Fund Direct Plan Growth	40.2360
HDFC Mid-Cap Opportunities Fund -Direct Plan – Growth Option	39.0251
Sundaram Mid Cap – Direct Plan – Growth Option	37.7276
IDBI Midcap Fund Direct Growth	37.4074
Franklin India Prima Fund Direct Growth	33.5033
L&T Midcap Fund Direct Plan Growth	29.8703
Category Average	44.0068
S&P BSE Midcap TR INR	39.6268

As can be seen from the above table, the mid cap funds have clearly outperformed the index even on a category average basis over a period of 1 year.

Which are the best performing mid-cap funds on 2-year returns?

Here is a list of the best performing mid-cap funds on 2-year mid-cap returns. Please note that 2-year returns may not be entirely reflective in the case of mid-cap funds, which are essentially long term investment products. However, the table will give you a good idea of the top performing mid-cap funds over 2 year period.

Fund Name	2 year Returns
PGIM India Midcap Opportunities Fund Direct Growth	58.4157
Quant Mid Cap Fund Growth Option Direct Plan	48.4232
Baroda Mid-cap Fund Plan B (Direct) Growth Option	44.2933
Baroda Mid-cap Fund Plan A Growth	43.0507
SBI Magnum Midcap Fund Direct Growth	41.2269
Edelweiss Mid Cap Fund Direct Plan Growth Option	39.3942
UTI Mid Cap Fund-Growth Option- Direct	37.9661
Mirae Asset Midcap Fund Direct Growth	36.9188
Kotak Emerging Equity Scheme Direct Growth	35.2017
Invesco India Mid Cap Fund Direct Plan Growth Option	35.0508
Mahindra Manulife Mid Cap Unnati Yojana Direct Growth	34.6386
Nippon India Growth Fund – Direct Plan – Growth	34.2554
BNP Paribas Mid Cap Fund Direct Plan Growth Option	33.9562
Axis Midcap Fund Direct Plan Growth	33.2681
Tata Mid Cap Growth Fund Direct Plan Growth	32.7953
Aditya Birla Sun Life Mid Cap Fund Direct Plan Growth	32.0630
ICICI Prudential MidCap Fund Direct Plan Growth	31.6358
Motilal Oswal Midcap 30 Direct Growth	31.5426
HDFC Mid-Cap Opportunities Fund -Direct Plan – Growth Option	30.6659
IDBI Midcap Fund Direct Growth	30.4544
L&T Midcap Fund Direct Plan Growth	25.6990
Franklin India Prima Fund Direct Growth	25.3768
Sundaram Mid Cap – Direct Plan – Growth Option	24.3858
Category Average	33.7354
S&P BSE Midcap TR INR	29.3495

Even over a 2 year period, it is apparent that the mid-cap funds as a category has outshone the mid-cap total returns index by a fairly steep margin.

Which are the best performing mid-cap funds on 3-year returns?

Here is a list of the best performing mid-cap funds on 3-year mid-cap returns. Please note that 3-year returns is relatively a better gauge of equity products, although a longer period would be preferred, being essentially long term investment products. However, the table will give you a good idea of the top performing mid-cap funds over 3 year period.

Fund Name	3-year Returns
PGIM India Midcap Opportunities Fund Direct Growth	37.4933
Quant Mid Cap Fund Growth Option Direct Plan	29.3602
Baroda Mid-cap Fund Plan B (Direct) Growth Option	27.8322
Edelweiss Mid Cap Fund Direct Plan Growth Option	27.4556
Baroda Mid-cap Fund Plan A Growth	26.7624
Axis Midcap Fund Direct Plan Growth	26.5324
SBI Magnum Midcap Fund Direct Growth	26.2188
Kotak Emerging Equity Scheme Direct Growth	26.1845
Mahindra Manulife Mid Cap Unnati Yojana Direct Growth	24.9217
Motilal Oswal Midcap 30 Direct Growth	24.7823
Nippon India Growth Fund – Direct Plan – Growth	24.7468
UTI Mid Cap Fund-Growth Option- Direct	24.3463
Invesco India Mid Cap Fund Direct Plan Growth Option	24.3277
Tata Mid Cap Growth Fund Direct Plan Growth	24.1995
BNP Paribas Mid Cap Fund Direct Plan Growth Option	23.9419
ICICI Prudential MidCap Fund Direct Plan Growth	20.4416
HDFC Mid-Cap Opportunities Fund -Direct Plan – Growth Option	20.0440
Aditya Birla Sun Life Mid Cap Fund Direct Plan Growth	19.4248
IDBI Midcap Fund Direct Growth	19.1368
Franklin India Prima Fund Direct Growth	18.0620
L&T Midcap Fund Direct Plan Growth	16.8408
Sundaram Mid Cap – Direct Plan – Growth Option	15.9850
Category Average	22.7613
S&P BSE Midcap TR INR	18.3587

Even over a 3 year period, it is apparent that the mid-cap funds as a category has outshone the mid-cap total returns index by a fairly steep margin.

Which are the best performing mid-cap funds on 5-year returns?

Here is a list of the best performing mid-cap funds on 5-year mid-cap returns. Please note that 5-year returns is largely a better reflection in the case of mid-cap funds, which are essentially long term investment products. However, the table will give you a good idea of the top performing mid-cap funds over 5 year period.

Fund Name	5 year Returns
PGIM India Midcap Opportunities Fund Direct Growth	25.3789
Axis Midcap Fund Direct Plan Growth	25.0603
Quant Mid Cap Fund Growth Option Direct Plan	22.9888
Edelweiss Mid Cap Fund Direct Plan Growth Option	22.1559
Invesco India Mid Cap Fund Direct Plan Growth Option	22.1179
Kotak Emerging Equity Scheme Direct Growth	21.1755
Baroda Mid-cap Fund Plan B (Direct) Growth Option	21.0227
Tata Mid Cap Growth Fund Direct Plan Growth	20.5345
Nippon India Growth Fund – Direct Plan – Growth	20.3802
Baroda Mid-cap Fund Plan A Growth	19.9566
BNP Paribas Mid Cap Fund Direct Plan Growth Option	19.2750
UTI Mid Cap Fund-Growth Option- Direct	18.7616
ICICI Prudential MidCap Fund Direct Plan Growth	18.0214
Motilal Oswal Midcap 30 Direct Growth	17.8317
SBI Magnum Midcap Fund Direct Growth	17.7562
HDFC Mid-Cap Opportunities Fund -Direct Plan – Growth Option	17.3860
L&T Midcap Fund Direct Plan Growth	16.8850
Franklin India Prima Fund Direct Growth	16.5339
Aditya Birla Sun Life Mid Cap Fund Direct Plan Growth	16.1761
Sundaram Mid Cap – Direct Plan – Growth Option	13.7188
Category Average	18.7471
S&P BSE Midcap TR INR	17.1137

 

Even over a 3 year period, it is apparent that the mid-cap funds as a category has outshone the mid-cap total returns index although the margin of outperformance is much narrower.

To sum it up, mid-caps add value by their ability to create alpha with their niche focus.