After we reported that Solely 3 out of 28 mid cap MFs persistently beat Nifty Midcap 150, many readers wished to incorporate a mid cap index fund of their portfolio and needed to know the way to decide on one.
As common readers could know, we’ve all the time maintained that the Nifty Subsequent 50 is a superb substitute for the Nifty Midcap 150. See, for instance, Nippon India Nifty Midcap 150 Index Fund Evaluate. Nevertheless, the nifty subsequent 50 index has slipped a bit during the last 18 months: Nifty Midcap 150 beats Nifty Subsequent 50 for the primary time.
We nonetheless consider that the Nifty Subsequent 50 is all of the “mid cap publicity” one wants in a portfolio. Nevertheless, many readers have discovered this stand irritating. So for what it’s value, we wish to current some knowledge on the obtainable Midcap index funds.
On the time of writing, there are 11 index funds within the midcap area. The final three are factor-based indices with one Midcap 50-based index (in blue). The numbers in brackets is the AUM in crores.
- Aditya Birla SL Nifty Midcap 150 Index Fund (78.7589)
- DSP Nifty Midcap 150 High quality 50 Index Fund (145.2318)
- ICICI Pru Nifty Midcap 150 Index Fund (97.1397)
- Motilal Oswal Nifty Midcap 150 Index Fund (634.4764)
- Navi Nifty Midcap 150 Index Fund (27.5031)
- Nippon India Nifty Midcap 150 Index Fund (550.2018)
- SBI Nifty Midcap 150 Index Fund (126.9383)
- Axis Nifty Midcap 50 Index Fund (35.3939)
- Tata Nifty Midcap 150 Momentum 50 Index Fund (29.8221)
- Edelweiss Nifty Midcap150 Momentum 50 Index Fund (18.4615)
- UTI Nifty Midcap 150 High quality 50 Index Fund(G)-Direct Plan (117.7233)
Solely Motilal Oswal Nifty Midcap 150 Index Fund and Nippon India Nifty Midcap 150 Index Fund have AUMs above Rs. 500 Crores. All the remainder have AUMs under Rs. 150 Crores on the time of writing.
We advise you keep away from momentum and quality-based mid-cap index funds. See, for instance, NSE Index Watch: Largest winners and losers of 2022. We additionally suggest not investing in Midcap 50. See Axis Nifty Midcap 50 Index fund Evaluate. In order that leaves Mid cap 150!
There are solely 4 funds with a historical past better than one 12 months. The remaining, no matter historical past, might be ignored (except you’ve gotten the boldness and conviction).
- ICICI Pru Nifty Midcap 150 Index Fund(G)-Direct Plan (0.0715) (-0.6563)
- Aditya Birla SL Nifty Midcap 150 Index Fund(G)-Direct Plan (0.0536) (-0.5689)
- Nippon India Nifty Midcap 150 Index Fund(G)-Direct Plan (0.0718) (-0.5545)
- Motilal Oswal Nifty Midcap 150 Index Fund(G)-Direct Plan (0.0753) (-0.3175)
The Motilal Oswal fund is the oldest, with a three-year historical past.
The primary quantity inside brackets is the final 1Y trailing monitoring errors in proportion. There may be little to differentiate them (One can’t take the 0.0536 too significantly. There may be inadequate knowledge).
The second quantity inside brackets is the final 1Y monitoring distinction = fund return minus index return. Once more can’t take the -0.3175 too significantly. So there’s not a lot info to meaningfully distinguish the funds. So you would do an inky-pink ponky or select the AMC you like. Most decisions in life quantity to a lead of religion (with or with out knowledge assist!).
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