HDFC Mutual Fund is among the top three fund houses in the country in terms of assets under management (AUM). The asset management company currently runs more than 100 schemes, comprising both active and passive schemes. Of these, over 50% of plans are in the equity space. This article will discuss one of the top-performing equity mutual fund schemes from HDFC’s product line-up.
HDFC Mid Cap Fund has been delivering excellent returns to investors across short and long time-frames – 3, 5, 10 and 15 years. Its regular plan was launched on 25th June 2007. Since launch, it has been a consistent performer. Over 15 years, this fund has been the highest-returning mid-cap fund. During the past 3 and 5 years, this HDFC fund has managed to secure the second position on the return chart. Its 10-year return chart shows it is in third spot. After more than 18 years since its launch, the fund has delivered approximately 18% returns on a lump sum investment and around 20% returns in SIPs.
A 5-star rated fund on Value Research, HDFC Mid Cap Fund is the largest mid-cap plan in terms of assets, with a total AUM of Rs 89,384 crore as on 31st October 2025. Its expense ratio is 1.36%, and the NAV was Rs 221.16 as on 6th November 2025. It is classified in the “Very High” risk category on the riskometer.
Key risk and return measures of the fund:
Standard Deviation: 13.79% (shows how much the fund’s returns fluctuate)
Beta: 0.86 (indicates the fund moves slightly less than the market)
Sharpe ratio: 1.29 (shows the fund gives good returns for the risk taken)
Highest-returning mid-cap fund over 15 years
Lump sum return over 15 years: 17.81% per annum
One-time investment 15 years ago: Rs 1,00,000
Value of investment after 15 years: Rs 11,68,779 (approximately Rs 11.69 lakh)
HDFC Mid Cap Fund – Returns since launch
Launch Date: 25th June 2007
Annualised return since launch: 17.55%
One-time investment: Rs 1,00,000
Current value of the investment: Rs 19,20,590 (approximately Rs 19.21 lakh)
HDFC Mid Cap Fund annualised returns over different periods
3 years: 25.05% CAGR
5 years: 28.68% CAGR
10 years: 18.42% CAGR
HDFC Mid Cap Fund SIP returns
SIP return over 15 years: 19.74% per annum
Upfront investment: Rs 1,00,000
Monthly investment: Rs 10,000
Value of investment after 15 years: Rs 1,08,24,358
SIP return over 18 years since launch: 19.69% per annum
Upfront investment: Rs 1,00,000
Monthly investment: Rs 10,000
Value of investment after 18 years: Rs 1,89,56,089
HDFC Mid Cap Fund: Investment strategy
This fund primarily invests in mid-cap stocks (approximately 65–100%). In addition, a portion is also invested in small-cap and large-cap stocks, as well as debt instruments.
Current investment in large-cap stocks: 7.7%
Current investment in mid-cap stocks: 66.0%
Current investment in small-cap stocks: 20.0%
The fund follows a bottom-up approach in building its portfolio, meaning the quality of the company is evaluated first.
HDFC Mid Cap Fund exit load rules
For every purchase or switch-in, if you sell or switch-out units within 1 year, an exit load of 1% will apply. If you sell or switch-out units after 1 year, no exit load will be charged. No entry or exit load will be applicable on bonus units or units received through dividend reinvestment.
Who is this fund suitable for?
This product is suitable for investors who aim to grow capital or achieve high returns over the long term and prefer to invest primarily in mid-cap companies.
If you have any doubts about whether this investment is right for you, be sure to consult your financial advisor.
HDFC Mid Cap Fund : Top 5 stocks in the portfolio
Max Financial Services: 4.76%
Balkrishna Industries: 3.54%
Indian Bank: 3.26%
Fortis Healthcare: 3.18%
AU Small Finance Bank: 3.16%
HDFC Mid Cap Fund: Top 5 sectors in the portfolio
Financial Services: 24.7%
Healthcare: 12.6%
Automobile & Auto Components: 10.0%
Information Technology: 7.6%
Capital Goods: 7.6%
Note: There is no guarantee that past returns of any equity fund will continue in the future. Past performance may or may not be sustained. Since investing in the market involves risks, it is advisable to consult an expert before making any investment.
Note: This content has been translated using AI. It has also been reviewed and edited by FE Editors for accuracy.