Bank of India Mid Cap Tax Fund Series 2
Bank of India Mutual Fund · Best ELSS (Tax Saving) Mutual Funds
This is the Regular plan of Bank of India Mid Cap Tax Fund Series 2 — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★★☆4/5 vs 51 ELSS peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within ELSS (same plan and option).
3Y CAGR +12.53% · ranks 9 of 49 ELSS funds
Volatility 17.5% vs 14.7% category avg
1.4% expense vs 2.0% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Ahead of the ELSS average on 1M/3M/6M/1Y — 1Y by 6.47pp
- 3-year return (+12.53%) beats the ELSS average (+9.44%)
- Stronger risk-adjusted returns — Sharpe 0.34 vs 0.19 ELSS average
- Low expense ratio (1.41%) vs the ELSS average of 2.04%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- More volatile than its ELSS peers (17.5% vs 14.7%)
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (ELSS)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -3.83% | -5.37% | +1.54% |
| 3M abs | +1.29% | -3.75% | +5.04% |
| 6M abs | +16.11% | +7.95% | +8.16% |
| 1Y CAGR | +4.28% | -2.19% | +6.47% |
| 3Y CAGR | +12.53% | +9.44% | +3.09% |
| 5Y CAGR | +10.22% | +9.90% | +0.32% |
Category average across peers in ELSS (up to 49 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 49 peers in ELSS
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Bank of India Mid Cap Tax Fund Series 2, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | Nifty Midcap 150 TRI | Diff | |
|---|---|---|---|---|
| 2026part | +3.77% | -1.81% | +5.58% | |
| 2025 | +2.10% | +6.24% | -4.14% | |
| 2024 | +18.53% | +24.74% | -6.21% | |
| 2023 | +35.04% | +45.27% | -10.23% | |
| 2022 | -6.24% | +4.09% | -10.33% | |
| 2021 | +45.56% | +48.31% | -2.75% | |
| 2020 | +27.53% | +26.10% | +1.43% | |
| 2019 | +8.40% | — | — | |
| 2018part | +6.54% | — | — |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity98.62%
- Cash & Equivalents1.23%
- Debt0.15%
AMC Profile
Bank of India Mutual Fund is run by Bank of India Investment Managers, wholly owned by the bank since its former joint-venture partner AXA Investment Managers exited — the house was branded BOI AXA until then. It runs a compact equity, hybrid and debt line-up.
Fund Managers
NJNilesh JethaniStart date not disclosed
Post Graduate Program in Global Financial Markets, CFA Level 2.
He has over 9 years of experience in Equity Research across Financial, IT and Capital Goods sector. Experience • Bank of India Investment Managers Private Limited (November 2021, to Present). • Envision Capital Services Pvt Ltd (November 2020 to October 2021). • HDFC Securities Ltd (July 2019 to October 2020) • HDFC Bank Ltd (September 2016 to July 2019).
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About ELSS (tax-saving) funds
ELSS funds are equity funds that qualify for a Section 80C deduction (up to ₹1.5 lakh a year) under the old tax regime. They carry a 3-year lock-in — the shortest of any 80C option.
Frequently asked questions
What is the NAV of Bank of India Mid Cap Tax Fund Series 2?
As of 01 Oct 2026, the NAV of Bank of India Mid Cap Tax Fund Series 2 is ₹33.88 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Bank of India Mid Cap Tax Fund Series 2 delivered?
Bank of India Mid Cap Tax Fund Series 2 has returned +4.28% over 1 year, +12.53% per year over 3 years, +10.22% per year over 5 years and +16.72% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Bank of India Mid Cap Tax Fund Series 2?
Bank of India Mid Cap Tax Fund Series 2 charges an expense ratio of 1.41% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Bank of India Mid Cap Tax Fund Series 2?
Bank of India Mid Cap Tax Fund Series 2's largest holdings are Coforge Limited (5.5%), UNO Minda Limited (4.8%), Bank of Maharashtra (4.3%), Steel Authority of India Limited (4.1%) and Aurobindo Pharma Limited (3.6%). Holdings are disclosed monthly and change over time.
How risky is Bank of India Mid Cap Tax Fund Series 2?
Bank of India Mid Cap Tax Fund Series 2 is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.5% and its worst peak-to-trough fall in our sample was -34.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.34 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Bank of India Mid Cap Tax Fund Series 2's 0.34 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Bank of India Mid Cap Tax Fund Series 2?
Bank of India Mid Cap Tax Fund Series 2 is benchmarked against the BSE 500 TRI. Its alpha and beta on this page are measured against that index.
Who manages Bank of India Mid Cap Tax Fund Series 2?
Bank of India Mid Cap Tax Fund Series 2 is managed by Nilesh Jethani at Bank of India.
How is Bank of India Mid Cap Tax Fund Series 2 taxed?
Bank of India Mid Cap Tax Fund Series 2 is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.