ICICI Prudential Mid Cap Fund vs HSBC Midcap Fund
ICICI Prudential Mid Cap Fund (Direct) and HSBC Midcap Fund (Direct) head to head: growth of ₹100, returns across every window, risk, cost, and portfolio overlap — every figure computed from AMFI NAV history, nothing supplied by a fund house. Both are Mid Cap Fund schemes — see the best mid cap mutual funds for the full ranking.
Head to head
NAVs as of 12 Oct 2026
Growth of ₹100 (rebased over the selected window)
Common period 28 Nov 2022 – 12 Oct 2026, limited by HSBC Midcap Fund. Every series is rebased to ₹100 at the start of this window. Benchmark lines are the category index WealthTicker measures against, which is not always the benchmark the scheme itself declares — the fund page’s Scheme Info names that one.
View as table
| Date | ICICI Prudential Mid Cap Fund | HSBC Midcap Fund | Nifty Midcap 150 TRI |
|---|---|---|---|
| 28 Nov 2022 | ₹100.00 | ₹100.00 | ₹100.00 |
| 26 Mar 2023 | ₹91.54 | ₹94.85 | ₹93.19 |
| 22 Jul 2023 | ₹107.26 | ₹112.33 | ₹115.41 |
| 17 Nov 2023 | ₹119.41 | ₹129.36 | ₹131.04 |
| 13 Mar 2024 | ₹135.64 | ₹143.40 | ₹142.89 |
| 09 Jul 2024 | ₹174.35 | ₹184.30 | ₹180.41 |
| 04 Nov 2024 | ₹168.35 | ₹186.94 | ₹175.90 |
| 02 Mar 2025 | ₹144.46 | ₹151.48 | ₹150.73 |
| 28 Jun 2025 | ₹181.98 | ₹191.68 | ₹185.95 |
| 24 Oct 2025 | ₹184.45 | ₹194.83 | ₹186.88 |
| 18 Feb 2026 | ₹193.98 | ₹199.61 | ₹189.67 |
| 16 Jun 2026 | ₹206.37 | ₹220.00 | ₹194.52 |
| 12 Oct 2026 | ₹195.96 | ₹224.24 | ₹185.89 |
Portfolio overlap (same stocks held through more than one fund)
Some overlap is structural: SEBI defines large cap as the top 100 stocks by market capitalisation, so two large-cap funds are fishing the same pond by regulation. The bands below are measured per sleeve pairing rather than against one blanket threshold. How this is measured →
- 60 stocks only in ICICI Prudential Mid Cap Fund
- 20 stocks in both — 23.5% of each portfolio by weight
- 47 stocks only in HSBC Midcap Fund
The more the circles overlap, the more the funds hold the same stocks.
ICICI Prudential Mid Cap Fund and HSBC Midcap Fund share 24% of their equity book by weight.
Shared holdings — ICICI Prudential Mid Cap Fund vs HSBC Midcap Fund
| Stock | ICICI Prudential Mid Cap Fund | HSBC Midcap Fund | |
|---|---|---|---|
| Apar Industries Ltd. | 6.10% | 3.41% | 3.41% |
| Bharat Forge Ltd. | 2.90% | 2.81% | 2.81% |
| PB Fintech Ltd. | 2.74% | 3.90% | 2.74% |
| Nippon Life India Asset Management Ltd | 2.26% | 2.18% | 2.18% |
| Navin Fluorine International Ltd. | 2.02% | 2.08% | 2.02% |
| Ge Vernova T&D India Ltd. | 1.93% | 3.22% | 1.93% |
| Hitachi Energy India Ltd. | 1.82% | 2.21% | 1.82% |
| Prestige Estates Projects Ltd. | 2.73% | 1.74% | 1.74% |
| Multi Commodity Exchange Of India Ltd. | 5.54% | 1.64% | 1.64% |
| IndusInd Bank Ltd. | 1.33% | 1.29% | 1.29% |
| Lenskart Solutions Ltd. | 1.19% | 4.85% | 1.19% |
| FSN E-Commerce Ventures Ltd. | 0.30% | 3.64% | 0.30% |
| Aditya Infotech Ltd | 0.14% | 2.66% | 0.14% |
| Thermax Ltd. | 0.13% | 1.89% | 0.13% |
| Syngene International Ltd. | 0.19% | 0.07% | 0.07% |
5 more stocks in common. 20 shared of 80 / 67 positions. Weights are shown as a share of each fund's equity book.
| Metric | ICICI Prudential · Direct NAV ₹365.37 Very High risk ★★★☆☆ | HSBC · Direct NAV ₹519.79 Very High risk ★★★★☆ | Category median Mid Cap Fund · 34 funds |
|---|---|---|---|
| +7.73% | +13.96%Best in row | +2.87% | |
| +19.22% | +22.09%Best in row | +15.19% | |
| +15.16% | — | +13.61% | |
| +15.98% | — | +15.61% | |
| +18.70% | +23.20% | +17.71% | |
| +16.78% | +20.07%Best in row | — | |
| +19.42% | +25.60%Best in row | +20.10% | |
| +18.10% | — | +19.01% | |
| +18.45% | — | +18.45% | |
| Risk | |||
| 17.96%Best in row | 18.84% | 16.23% | |
| 0.71 | 0.83Best in row | 0.54 | |
| 0.96 | 1.11Best in row | 0.74 | |
| -44.04% | -25.96% | -32.95% | |
| +5.30% | +7.18%Best in row | +2.15% | |
| 1.01 | 1.04 | 0.95 | |
| 108.7% | 116.5%Best in row | 98.6% | |
| 87.0%Best in row | 90.4% | 89.7% | |
| ₹8,094Cr | ₹16,299Cr | ₹7,559Cr | |
| ₹100 | ₹500 | — | |
| 15% | 131% | 63% | |
| Lalit Kumar · 4.2y | Sonal Gupta · 3.9y | — | |
| 02 Jan 2013 | 28 Nov 2022 | — | |
| 80 | 75 | — | |
| 40.0% | 37.1% | — | |
| 2.0% | 0.8% | — | |
5 rows carry the same value for every fund — show
- Benchmark
- Nifty Midcap 150 TRI
- Expense ratio (TER)
- 1.10%
- Exit load
- Up to 1.00%
- Lock-in
- None
- Min lumpsum
- ₹5.00K
Best marks the strongest value in a row, and only where the gap is bigger than noise — a near-tie is left unmarked rather than dressed up as a result. SIP XIRR is a ₹10,000/month instalment over 5 years of real NAV history. Nothing here is supplied by a fund house. For research only — not investment advice.
Frequently asked questions
Which fund has delivered higher returns — ICICI Prudential Mid Cap Fund or HSBC Midcap Fund?
Over the last 3 years, HSBC Midcap Fund returned +22.09% CAGR against ICICI Prudential Mid Cap Fund's +19.22%, computed from AMFI NAV history. Past returns don't guarantee future performance.
Which fund is cheaper — ICICI Prudential Mid Cap Fund or HSBC Midcap Fund?
ICICI Prudential Mid Cap Fund has the lower expense ratio: ICICI Prudential Mid Cap Fund charges 1.10% a year against HSBC Midcap Fund's 1.10%. The expense ratio is deducted from the NAV daily, so a lower one compounds in the investor's favour.
Which fund is riskier — ICICI Prudential Mid Cap Fund or HSBC Midcap Fund?
HSBC Midcap Fund has shown higher volatility (+18.84% annualized vs ICICI Prudential Mid Cap Fund's +17.96%), measured as the annualized standard deviation of daily returns over the trailing 3 years. Worst 3-year drawdown: ICICI Prudential Mid Cap Fund -21.27% vs HSBC Midcap Fund -25.96%.
Which fund manages more money — ICICI Prudential Mid Cap Fund or HSBC Midcap Fund?
HSBC Midcap Fund is the larger fund: ICICI Prudential Mid Cap Fund manages ₹8,094Cr against HSBC Midcap Fund's ₹16,299Cr in assets. Size cuts both ways — scale lowers costs, but a very large fund can find it harder to move in and out of positions.
Are ICICI Prudential Mid Cap Fund and HSBC Midcap Fund in the same category?
Yes — both are Mid Cap Fund schemes, so their returns, risk and cost are directly comparable against the same peer set.
Figures update daily from AMFI NAV history; ratings and ranks are WealthTicker’s own — see the methodology. This is data, not investment advice.