Mid Cap Fund · head to head · AMFI NAVs
Mirae Asset Midcap Fund vs Nippon India Growth Mid Cap Fund: SIP returns compared
Same ₹10,000 monthly SIP, same dates, Direct plans: over the last 5 years Mirae Asset Midcap Fund is worth ₹8.44 L (XIRR 14.0%) and Nippon India Growth Mid Cap Fund ₹8.93 L (XIRR 16.4%) — Nippon India Growth Mid Cap Fund ahead by ₹48,953. Across every 3-year SIP since Aug 2019, Mirae Asset Midcap Fund finished ahead in 8 of 51 and Nippon India Growth Mid Cap Fund in 43.
Historical simulation on actual NAVs — not a forecast and not investment advice. Disclaimer
Mirae Asset Midcap Fund: invested — over — instalments; valued at NAV of —:
| Year | Invested | Mirae Asset Midcap Fund value | XIRR to date |
|---|
₹10,000 a month in each: what it became
Each row is a monthly SIP ending today (1 Oct 2026), Direct plans. Post-tax assumes everything is redeemed today with no other capital gains this year.
| SIP period | Invested | Mirae Asset Midcap Fund | XIRR | Nippon India Growth Mid Cap Fund | XIRR | Post-tax (both) |
|---|---|---|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1.21 L | 1.1% | ₹1.20 L | -0.0% | ₹1.20 L / ₹1.20 L |
| 3 years | ₹3,60,000 | ₹4.04 L | 8.0% | ₹4.03 L | 7.8% | ₹4.03 L / ₹4.03 L |
| 5 years | ₹6,00,000 | ₹8.44 L | 14.0% | ₹8.93 L | 16.4% | ₹8.29 L / ₹8.72 L |
Every 3-year SIP, head to head
We started the same SIP in both funds in every month both have NAVs for — 51 SIPs, the first starting Aug 2019. Mirae Asset Midcap Fund finished ahead in 16% of them; the median gap was 3.3 percentage points a year in Nippon India Growth Mid Cap Fund's favour.
Downside on the same dates: Mirae Asset Midcap Fund's worst 3-year SIP returned 6.8% a year (started Apr 2023) and 0 of 51 lost money; Nippon India Growth Mid Cap Fund's worst returned 8.4% (started Oct 2023) and 0 lost money.
XIRR of every 3-year monthly SIP by the month it started. Gap = Mirae Asset Midcap Fund minus Nippon India Growth Mid Cap Fund, percentage points a year.
| Window | SIPs compared | Ahead (Mirae / Nippon) | Median gap | Worst gap | Best gap |
|---|---|---|---|---|---|
| 3-year SIPs | 51 | 16% / 84% | -3.3 pp | -8.5 ppstarted Jan 2022 | +3.4 ppstarted Aug 2019 |
| 5-year SIPs | 27 | 0% / 100% | -4.0 pp | -5.7 ppstarted Apr 2020 | -1.7 ppstarted Sep 2021 |
Against an index fund, and the cost of the Regular plan
- Mirae Asset Midcap Fund beat a plain Nifty Midcap 150 index fund in 41% of 49 rolling 3-year SIPs (median gap -0.9 pp a year) — Mirae Asset Midcap Fund vs Nifty Midcap 150 index fund.
- Mirae Asset Midcap Fund: the Regular plan of the same 5-year SIP ended ₹25,653 below Direct.
- Nippon India Growth Mid Cap Fund beat a plain Nifty Midcap 150 index fund in 100% of 49 rolling 3-year SIPs (median gap +2.6 pp a year) — Nippon India Growth Mid Cap Fund vs Nifty Midcap 150 index fund.
- Nippon India Growth Mid Cap Fund: the Regular plan of the same 10-year SIP ended ₹1,56,306 below Direct.
Questions
Which has given better SIP returns, Mirae Asset Midcap Fund or Nippon India Growth Mid Cap Fund?
Over the last 5 years a ₹10,000 monthly SIP (Direct plans) is worth ₹8.44 L in Mirae Asset Midcap Fund (XIRR 14.0%) and ₹8.93 L in Nippon India Growth Mid Cap Fund (XIRR 16.4%). Past returns don't tell you which will do better next.
Has Mirae Asset Midcap Fund beaten Nippon India Growth Mid Cap Fund consistently?
In 16% of 51 rolling 3-year SIPs started on the same dates (from Aug 2019), Mirae Asset Midcap Fund ended ahead of Nippon India Growth Mid Cap Fund (Direct plans). The median difference was -3.3 percentage points a year.
Where does this data come from?
Official daily NAVs published by AMFI. SIP instalments fall on the first business day of each month; both funds are compared on identical dates. Updated monthly.
Comparison on official AMFI NAVs, SIP on the first business day of each month, identical dates for both funds. It shows what happened, not which fund to buy — past performance does not indicate future returns. sipcalculatorhub.com is not a SEBI-registered investment adviser. Methodology.
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