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  5. 5 midcap mutual funds that turned ₹25000 SIP with 5% step-up to ₹1 crore in 10 years

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5 midcap mutual funds that turned ₹25000 SIP with 5% step-up to ₹1 crore in 10 years

rajeev kumar
By Rajeev Kumar

5 min read | Updated on August 01, 2025, 14:44 IST

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SUMMARY

Midcap funds invest at least 65% of their total assets in midcap equity and related instruments. They predominantly invest in midcap stocks, which are stocks ranked 101 to 250 in terms of their total market capitalisation.

top midcap funds in 10 years

Here's how ₹25,000 SIP with 5% step-up in these 5 midcap funds grew in 10 years. | Image source: Shutterstock

In a previous article, we looked at how the seven largest flexi-cap funds by assets under management (AUM) could have turned a monthly SIP of ₹10,000 into a wealth ranging from ₹24 lakh to ₹34 lakh in 10 years. The purpose of this exercise was not to recommend any of these funds, but just to show how returns vary across schemes in the same category.

In today's article, we have crunched the numbers of five midcap funds that could have turned a monthly Systematic Investment Plan (SIP) of ₹25,000 with 5% annual step-up into over ₹1 crore in 10 years.

Before we dive into the five funds, let's first understand what midcap funds are and how the annual step-up works.

Midcap funds invest at least 65% of their total assets in midcap equity and related instruments. They predominantly invest in midcap stocks, which are stocks ranked 101 to 250 in terms of their total market capitalisation.

Step-up SIP is an investment strategy in which you can increase your SIP amount in mutual funds by a fixed amount or percentage at a regular interval. This strategy helps increase your contribution as your income rises and maximise the final corpus over the long term.

Now that you understand both midcap funds and step-up, let's look at the five funds. Please note that only direct plans of these funds have been considered here as they generate higher returns, and the 10-year data used in this article is from the Association of Mutual Funds in India (AMFI) till July 30, 2025 (accessed on August 1, 2025).

Edelweiss Mid Cap Fund: It has delivered 18.77% annualised returns in 10 years. An SIP of ₹25,000 with 5% annual step-up would have resulted in a corpus of approx. ₹1.03 crore. A normal ₹25,000 SIP without step-up would have grown to approx. ₹88.3 lakh.
HDFC Mid Cap Fund: It has delivered 18.48% annualised returns in 10 years. An SIP of ₹25,000 with 5% annual step-up would have resulted in a corpus of approx. ₹1.01 crore. A normal ₹25,000 SIP without step-up would have grown to approx. ₹86.6 lakh.
Invesco India Mid Cap Fund: It has delivered 19.31% annualised returns in 10 years. An SIP of ₹25,000 with 5% annual step-up would have resulted in a corpus of approx. ₹1.06 crore. A normal ₹₹25,000 SIP without step-up would have grown to approx. ₹91.4 lakh.
Kotak Midcap Fund: It has delivered 19.05% annualised returns in 10 years. An SIP of ₹25,000 with 5% annual step-up would have resulted in a corpus of approx. ₹1.05 crore. A normal ₹25,000 SIP without step-up would have grown to approx. ₹89.9 lakh.
Motilal Oswal Midcap Fund: It has delivered 18.4% annualised returns in 10 years. An SIP of ₹25,000 with 5% annual step-up would have resulted in a corpus of approx. ₹1.03 crore. A normal ₹25,000 SIP without step-up would have grown to approx. ₹86.2 lakh.

In the following table, we have summarised the above numbers:

Scheme NameReturn 10 Year (%) DirectReturn 10 Year (%) Benchmark10 year ₹25,000 SIP with 5% step-up value (₹)10 year ₹25,000 SIP without step-up value (₹)Information Ratio 10 Year (Direct)Daily AUM (Cr.)
Edelweiss Mid Cap Fund18.7718.011,03,32,92088,30,1300.1211069.05
HDFC Mid Cap Fund18.4818.011,01,53,15886,67,7230.0384300.06
Invesco India Mid Cap Fund19.3117.551,06,77,81691,41,9890.247828.14
Kotak Midcap Fund19.0518.011,05,10,08089,90,2780.157599.51
Motilal Oswal Midcap Fund18.418.011,01,04,22486,23,5300.0433563.37
All of these five midcap funds have positive information ratios, indicating they have delivered consistent risk-adjusted outperformance (Read more about the information ratio here)

What do the above numbers mean for investors?

As you can see from the numbers above, even a small 5% annual step-up can make a big difference in the final corpus over time.

The returns above are based on the past performance of the five midcap mutual funds over 10 years. But they do not indicate anything about their future returns.

Investors may use the past performance as one of the criteria to shortlist a fund to invest. But past performance alone is not enough for this purpose. Several other factors need to be looked at. (Read about them here.)

Midcap funds come with very high risk, which investors should consider before investing. Moreover, you should invest in any scheme only if it fits your portfolio and financial goals, and you fully understand the risks involved with investing.

Disclaimer: The views and opinions expressed above are those of respective experts/commentators and do not reflect the views of Upstox. This content is only for informational purposes and should not be considered investment advice from Upstox.
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About The Author

rajeev kumar
Rajeev Kumar is a Deputy Editor at Upstox, and covers personal finance stories. In over 11 years as a journalist, he has written over 2,000 articles on topics like income tax, mutual funds, credit cards, insurance, investing, savings, and pension. He has previously worked with organisations like 1% Club, The Financial Express, Zee Business and Hindustan Times.