Note, we considered the passive mid cap schemes that are benchmarked against Nifty Midcap 50 – TRI, Nifty Midcap 150 – TRI, NIFTY Midcap150 Quality 50 – TRI, and Nifty Midcap150 Momentum 50 – TRI. We considered the regular and growth options. These benchmarks have offered around 18.49- 33.49% returns in 2023.
In comparison, actively-managed mid cap schemes have offered an average return of around 22.45% in 2023. Around 90% actively-managed mid cap schemes failed to beat their respective benchmarks in 2023. There were 29 actively-managed schemes in the mid cap category and only three schemes managed to beat their respective benchmarks in this year. Around 26 schemes underperformed their benchmarks.
If you want to see the performance of active mid cap funds, see story: Mid cap funds offer 22.45% average return in 2023; PGIM India Midcap Opportunities Fund give 10.94%
Top five schemes by AUM or assets
Motilal Oswal Nifty Midcap 150 Index Fund, the largest passively-managed mid cap scheme that manages Rs 1,041.10 crore, offered 26.93% in 2023, failing to beat its benchmark (Nifty Midcap 150 – TRI) that offered 27.90% in the same period.
Nippon India Nifty Midcap 150 Index Fund, ICICI Prudential Nifty Midcap 150 Index Fund, SBI Nifty Midcap 150 Index Fund, and DSP Nifty Midcap 150 Quality 50 Index Fund failed to beat their respective benchmarks in 2023.
Axis Nifty Midcap 50 Index Fund was the topper in the category. The scheme gave 31.85%, against 33.49% offered by its benchmark (Nifty Midcap 50 – TRI). Edelweiss Nifty Midcap150 Momentum 50 Index Fund offered 28.83%, followed by Tata Nifty Midcap 150 Momentum 50 Index Fund which gave 28.66%. Next five schemes in the list gave around 27%. Navi Nifty Midcap 150 Index Fund gave around 26%. DSP Nifty Midcap 150 Quality 50 Index Fund and UTI Nifty Midcap 150 Quality 50 Index Fund gave 17.79% and 17.71% respectively.
Note, the above exercise is not a recommendation. The purpose of the exercise was to see how passively-managed mid cap schemes performed in 2023 so far.
One should not make investment or redemption decisions based on this exercise. One should always consider risk appetite, investment horizon, and goal before making investment decisions. Past performance does not guarantee future performance.
