17 mid cap mutual funds have never posted negative annual returns in last 5 years

Around 17 mid cap mutual funds have never posted negative returns in the last five calendar years (2020–2024), an analysis by ETMutualFunds showed. Around 24 mid cap funds entered the market during this period.

Of these 17 funds, 10 have delivered negative returns and seven have posted positive returns so far in 2025.

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Baroda BNP Paribas Mid Cap Fund has never offered negative returns in the last five years but is down 2.06% so far in 2025. Edelweiss Mid Cap Fund also maintained a positive record over five years but is down 0.62% in 2025.


Franklin India Mid Cap Fund has been consistently positive since 2020 but has declined 1.54% in 2025 so far.

HDFC Mid Cap Fund also features in this list, delivering 0.80% so far this year. Invesco India Midcap Fund, positive across the last five years, has gained 4.53% in 2025 to date.

Kotak Midcap Fund and Mahindra Manulife Mid Cap Fund also maintained a positive streak for five years. In 2025, Kotak gained 1.18%, while Mahindra Manulife lost 2.91%.

Mirae Asset Midcap Fund delivered 24.28% in 2020, 48.43% in 2021, 4.90% in 2022, 34.51% in 2023, and 19.54% in 2024. It has gained 3.52% so far in 2025. Motilal Oswal Midcap Fund, though never negative in the past five years, is the biggest loser this year, down 7.52%.

Nippon India Growth Mid Cap Fund, with the highest NAV, gained 22.05%, 46.46%, 5.81%, 48.61%, and 26.90% from 2020–2024, and has added 0.77% in 2025 so far.

Quant Mid Cap Fund and SBI Midcap Fund also avoided negative returns in the past five years but are down 7.38% and 3.73%, respectively, in 2025.

Sundaram Mid Cap Fund, Tata Mid Cap Fund, and Taurus Mid Cap Fund are also in the positive-return list. Sundaram is down 0.03% in 2025, Tata is down 0.05%, while Taurus has gained 1.37% so far.

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Note, in the current calendar year out of 29 mid cap funds, 16 have offered negative returns and 13 have offered positive returns. Invesco India Midcap Fund has offered the highest return of 4.54% in 2025 so far whereas Motilal Oswal Midcap Fund has lost the most of around 7.52% in the 2025 so far.

We considered all mid cap funds that have been active for the past five calendar years, looking at regular and growth options, and calculated yearly returns since 2020.

Note: This exercise is not a recommendation. It only highlights funds that avoided negative returns from 2020–2024 and their 2025 performance so far. Investors should always consider risk appetite, investment horizon, and goals before making decisions.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)