COMPARE
Axis Midcap Fund - Direct Plan - Growth vs ICICI Prudential Mid Cap Fund - Direct Plan - Growth
Axis Midcap Fund and ICICI Prudential Mid Cap Fund are both in the Mid Cap Fund category, from Axis Asset Management Co. Ltd. and ICICI Prudential Asset Management Company Limited respectively. ICICI Prudential Mid Cap Fund has posted a higher 3-year rolling CAGR. Axis Midcap Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Axis Midcap Fund has the lower direct-plan expense ratio, by 0.27 percentage points.
| Axis Midcap Fund - Direct Plan - Growth | ICICI Prudential Mid Cap Fund - Direct Plan - Growth | |
|---|---|---|
| Category | Mid Cap Fund | Mid Cap Fund |
| AMC | Axis Asset Management Co. Ltd. | ICICI Prudential Asset Management Company Limited |
| Benchmark | BSE 150 MidCap Index TRI | Nifty Midcap 150 TRI |
| NAV | ₹136.17 (2026-10-28) | ₹353.35 (2026-10-28) |
| AUM | ₹32,758.254 Cr | ₹7,561.501 Cr |
| Expense Ratio (Direct) | 0.84% | 1.11% |
| Inception | 2011-01-31 | 2004-09-06 |
Returns
ICICI Prudential Mid Cap Fund leads on 3-year rolling CAGR (21.0% vs Axis Midcap Fund's 19.6%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
ICICI Prudential Mid Cap Fund has been the more volatile of the two by standard deviation.
| Axis Midcap Fund - Direct Plan - Growth | ICICI Prudential Mid Cap Fund - Direct Plan - Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.42 | 0.52 |
| 3Y Alpha | 1.7802% | 5.125% |
| 3Y Std Deviation | 15.0114% | 17.9233% |
| 3Y Calmar Ratio | 0.68 | 0.77 |
Portfolio Analytics
Axis Midcap Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| Axis Midcap Fund - Direct Plan - Growth | ICICI Prudential Mid Cap Fund - Direct Plan - Growth | |
|---|---|---|
| P/E Ratio | 44.0586 | 35.8318 |
| P/B Ratio | 9.9087 | 9.9087 |
| Dividend Yield | 0.477% | 0.9624% |
| Active Share | 61.18% | 73.7% |
| Portfolio Turnover | 79% | - |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
ICICI Prudential Mid Cap Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Axis Midcap Fund or ICICI Prudential Mid Cap Fund?
ICICI Prudential Mid Cap Fund's 3-year rolling CAGR of 21.0% is higher than Axis Midcap Fund's 19.6%. ICICI Prudential Mid Cap Fund sits in the 45th percentile of its category on this metric, versus the 34th percentile for Axis Midcap Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Axis Midcap Fund or ICICI Prudential Mid Cap Fund?
Axis Midcap Fund's direct-plan expense ratio is 0.27 percentage points lower than ICICI Prudential Mid Cap Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, Axis Midcap Fund or ICICI Prudential Mid Cap Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), ICICI Prudential Mid Cap Fund has been more volatile than Axis Midcap Fund over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.42 for Axis Midcap Fund vs 0.52 for ICICI Prudential Mid Cap Fund) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, Axis Midcap Fund or ICICI Prudential Mid Cap Fund?
Axis Midcap Fund has ₹32,758 Cr in assets under management, versus ₹7,562 Cr for ICICI Prudential Mid Cap Fund. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which fund has a longer track record, Axis Midcap Fund or ICICI Prudential Mid Cap Fund?
ICICI Prudential Mid Cap Fund launched on 2004-09-06, making it older than Axis Midcap Fund (launched 2011-01-31). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.