Over the long term, midcap mutual funds have emerged as the top-performing equity fund category. Midcap mutual funds are funds that invest at least 65 per cent of their corpus in midcap companies (whose market capitalisation is Rs 5,000 crore to Rs 20,000 crore). These companies are typically ranked between 101st and 250th by market capitalisation. They have the potential to provide good returns, but they are more volatile than the largecap funds. They are generally considered suitable for long-term investors with an investment horizon of at least 5-7 years. Before investing in midcap mutual funds, investors should consider their risk tolerance, investment horizon, financial goals, and existing portfolio allocation, if any.
This article will talk about the top seven midcap mutual funds in the past five years and will also calculate what a Rs 28,00,000 lump sum investment in the No. 1 fund has turned in the past five years. Take a look:
Motilal Oswal Midcap Fund
The top fund on the list is the Motilal Oswal Midcap Fund. It is a Rs 37,474 crore fund and has delivered an annualised return of 21.35 per cent over the past five years. The fund’s NAV was Rs 99.87 as of July 30, 2026.
Total lump sum investment: Rs 28,00,000
Maturity value: Rs 73,68,125
HDFC Mid Cap Fund
The second fund on the list is the HDFC Mid Cap Fund. It is a Rs 1,00,858 crore fund and has delivered an annualised return of 19.34 per cent over the past five years. The fund’s NAV was Rs 210.02 as of July 30, 2026.
Total lump sum investment: Rs 28,00,000
Maturity value: Rs 67,77,792
Invesco India Mid Cap Fund
Next comes Invesco India Mid Cap Fund. With a market capitalisation of Rs 13,767 crore, the fund has given an annualised return of 18.94 per cent over the past five years. The fund’s NAV was Rs 197.48 as of July 30, 2026.
Total lump sum investment: Rs 28,00,000
Maturity value: Rs 66,64,963
Nippon India Growth Mid Cap Fund
The fourth fund on the list is Nippon India Growth Mid Cap Fund. It is a Rs 49,169 crore fund and has delivered an annualised return of 18.57 per cent over the past five years. The fund’s NAV was Rs 4,501.62 as of July 30, 2026.
Total lump sum investment: Rs 28,00,000
Maturity value: Rs 65,61,939
Sundaram Mid Cap Fund
The fifth fund on the list is Sundaram Mid Cap Fund. With a market capitalisation of Rs 14,026 crore, the fund has given an annualised return of 17.59 per cent over the past five years. The fund’s NAV was Rs 1,505.42 as of July 30, 2026.
Total lump sum investment: Rs 28,00,000
Maturity value: Rs 62,95,207
Edelweiss Mid Cap Fund
The next fund on the list is Edelweiss Mid Cap Fund. It has a market cap of Rs 17,748 crore and has given an annualised return of 17.53 per cent over the past five years. The fund’s NAV was Rs 108.248 as of July 30, 2026.
Total lump sum investment: Rs 28,00,000
Maturity value: Rs 62,79,163
HSBC Midcap Fund
The last fund on the list is HSBC Midcap Fund. With a market capitalisation of Rs 15,352 crore, the fund has given an annualised return of 17.38 per cent over the past five years. The fund’s NAV was Rs 449.76 as of July 30, 2026.
Total lump sum investment: Rs 28,00,000
Maturity value: Rs 62,39,195
Our calculations are projections and not investment advice. Do your own due diligence or consult an expert for financial planning.
