COMPARE
HSBC Midcap Fund - Direct Growth vs ITI Mid Cap Fund - Direct Plan - Growth Option
HSBC Midcap Fund and ITI Mid Cap Fund are both in the Mid Cap Fund category, from HSBC Asset Management (India) Private Ltd. and ITI Asset Management Limited respectively. HSBC Midcap Fund has posted a higher 3-year rolling CAGR. ITI Mid Cap Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
ITI Mid Cap Fund has the lower direct-plan expense ratio, by 0.24 percentage points.
| HSBC Midcap Fund - Direct Growth | ITI Mid Cap Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Mid Cap Fund | Mid Cap Fund |
| AMC | HSBC Asset Management (India) Private Ltd. | ITI Asset Management Limited |
| Benchmark | Nifty Midcap 150 TRI | Nifty Midcap 150 TRI |
| NAV | ₹502.9783 (2026-10-28) | ₹23.5708 (2026-10-28) |
| AUM | ₹16,372.657 Cr | ₹1,380.83 Cr |
| Expense Ratio (Direct) | 1.15% | 0.91% |
| Inception | 2004-06-24 | 2021-02-15 |
Returns
HSBC Midcap Fund leads on 3-year rolling CAGR (25.8% vs ITI Mid Cap Fund's 25.2%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
HSBC Midcap Fund has been the more volatile of the two by standard deviation.
| HSBC Midcap Fund - Direct Growth | ITI Mid Cap Fund - Direct Plan - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.63 | 0.46 |
| 3Y Alpha | 7.6777% | 4.0715% |
| 3Y Std Deviation | 18.8795% | 17.6619% |
| 3Y Calmar Ratio | 0.73 | 0.68 |
Portfolio Analytics
HSBC 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.
| HSBC Midcap Fund - Direct Growth | ITI Mid Cap Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 42.3761 | 32.3793 |
| P/B Ratio | - | 9.9087 |
| Dividend Yield | 0.4829% | 0.6077% |
| Active Share | 73.25% | 58.88% |
| Portfolio Turnover | 129% | 118% |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
HSBC Midcap Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, HSBC Midcap Fund or ITI Mid Cap Fund?
HSBC Midcap Fund's 3-year rolling CAGR of 25.8% is higher than ITI Mid Cap Fund's 25.2%. HSBC Midcap Fund sits in the 93rd percentile of its category on this metric, versus the 86th percentile for ITI Mid Cap 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, HSBC Midcap Fund or ITI Mid Cap Fund?
ITI Mid Cap Fund's direct-plan expense ratio is 0.24 percentage points lower than HSBC Midcap 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, HSBC Midcap Fund or ITI Mid Cap Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), HSBC Midcap Fund has been more volatile than ITI Mid Cap 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 (0.63 for HSBC Midcap Fund vs 0.46 for ITI 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, HSBC Midcap Fund or ITI Mid Cap Fund?
HSBC Midcap Fund has ₹16,373 Cr in assets under management, versus ₹1,381 Cr for ITI 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, HSBC Midcap Fund or ITI Mid Cap Fund?
HSBC Midcap Fund launched on 2004-06-24, making it older than ITI Mid Cap Fund (launched 2021-02-15). 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.