UTI Mid Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

UTI Mid Cap Fund Direct Growth Plan has a NAV of ₹355.7301 as of 09 Sep 2026 and a scheme AUM of ₹12,795 Cr. Its 1-year, 3-year and 5-year returns are 6.83%, 12.01% and 12.54% respectively, and the fund sits in the High Risk category.

Our view is that this is a mid-cap fund for investors who can tolerate sharper swings and stay invested long enough for compounding to work through cycles. The recent return pattern is uneven, but the longer-term record is steadier, and the portfolio is built around a set of individual stock positions rather than a narrow one- or two-stock bet.

Quick facts

Particular	Details
NAV	₹355.7301 as of 09 Sep 2026
AUM	₹12,795 Cr
Expense Ratio	0.91%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty Mid Cap
Fund Category	Equity
Exit Load	1% on or before 1Y, Nil after 1Y
Fund Managers	Vishal Chopda

The fund is managed by Vishal Chopda.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.72%	-2.04%
3M	7.87%	4.88%
1Y	6.83%	5.51%
3Y	12.01%	15.36%
5Y	12.54%	15.14%

The short-term path has been choppy, but the latest month still ended better than the benchmark because the fund fell less. Over three months and one year, the fund has done better than the benchmark, which tells us the recent stretch has been more supportive for its stock selection than the broader index.

The longer-term picture is different. At 3 years and 5 years, the benchmark has stayed ahead, so the fund has not fully matched the compounding pace of the mid-cap index across the full cycle. That gap matters because it shows the fund can keep up in favourable windows, but it has not consistently led across longer holding periods.

The pattern of the returns suggests a fund that can participate in rallies but can also lag when the broader mid-cap segment compounds more smoothly. The 1-year figure is still positive, which is useful, yet it does not erase the slower 3-year and 5-year outcomes relative to the benchmark.

We therefore read the record as one of moderate recent recovery against a weaker long-cycle showing. For an investor, that usually means the fund is better assessed over a long holding period rather than on the basis of one or two strong quarters.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD UTI Mid Cap?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
UTI Mid Cap Fund Direct Growth Plan	6.83%	12.01%	12.54%
HSBC Midcap Fund Direct Growth Plan	22.93%	24.35%	19.48%
WOC Mid Cap Fund Direct Growth Plan	16.16%	21.78%	Data not available
Helios Mid Cap Fund Direct Growth Plan	14.68%	Data not available	Data not available
ITI Mid Cap Fund Direct Growth Plan	14.35%	20.09%	16.94%
Mahindra Manulife Mid Cap Fund Direct Growth Plan	13.23%	17.96%	18.47%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Against the stronger peer set on the 1-year figure, this fund is well below the fastest movers, even though it has still delivered a positive return. On the 3-year and 5-year numbers, the gap is also visible where comparison is possible, which tells us the fund has not kept pace with several peers over longer stretches.

The short-term story and the longer-term story do not match. The recent year looks better than the benchmark and is less weak than several peers, but the extended record still trails the more resilient peer outcomes available here. That mix points to a fund whose recent recovery has not yet turned into a stronger long-cycle advantage.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eq – Coforge Ltd	IT	3.26%
Eq – PB Fintech Ltd	IT	3.08%
Eq – AU Small Finance Bank Ltd	Bank	2.76%
Eq – Apl Apollo Tubes Ltd	Iron & Steel	2.43%
Eq – Hero Motocorp Ltd.	Automobile & Ancillaries	2.17%
Eq – Aurobindo Pharma Ltd.	Healthcare	2.15%
Eq – Federal Bank Ltd.	Bank	2.08%
Eq – Ajanta Pharma Ltd.	Healthcare	2.07%
Eq – Polycab India Ltd	Electricals	2.07%
Eq – Shriram Finance Ltd	Finance	2%

The largest holding, Coforge Ltd, is a 3.26% position, which is meaningful but not oversized in isolation. The tenth holding is 2%, so the gap between the top and bottom of the displayed list is present, but not extreme.

The top 10 holdings together account for approximately 24.07% of the portfolio, which suggests the fund is not dominated by a handful of stocks. At the same time, the remaining exposure across 78 disclosed holdings means the portfolio likely has a long tail that can dilute the effect of any single position.

That structure may help keep stock-specific risk from becoming too concentrated, while still allowing the larger positions to influence returns. The visible holdings are spread across IT, banking, healthcare, finance, industrials and consumer-linked names, so the fund may draw performance from several parts of the mid-cap universe rather than one narrow theme.

To see all holdings, visit the UTI Mid Cap Fund Direct Growth Plan page

Source data date: as of 09 Sep 2026

Who should invest

This fund suits investors who can accept High Risk volatility and stay invested for a long horizon. The 1-year return has improved versus the benchmark, but the 3-year and 5-year records still trail the index, so the fund works better for someone who can tolerate uneven phases instead of expecting steady outperformance.

The main trade-off is between the possibility of mid-cap upside and the reality of sharper swings and a less consistent longer-term record than the benchmark. The portfolio is broad across 78 holdings, which can reduce single-stock dependence, but the scheme still needs patience through cycles to have a fair chance of compounding.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: 1% if units are sold on or before 1 year; nil after 1 year.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of UTI Mid Cap Fund Direct Growth Plan?
The current NAV is ₹355.7301 as of 09 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The fund’s returns are 6.83% over 1 year, 12.01% over 3 years and 12.54% over 5 years.

How has the fund done versus the benchmark?
It has beaten the benchmark over 1 month, 3 months and 1 year, but it trails the benchmark over 3 years and 5 years.

How does it compare with peer funds on recent returns?
Its 1-year return is lower than the stronger peer numbers shown here, and its longer-term returns also trail several peers where data is available.

What is the minimum SIP amount?
The minimum SIP is ₹500.

Who manages the fund and what is the exit load?
The fund is managed by Vishal Chopda. The exit load is 1% if units are sold on or before 1 year, and nil after 1 year.

Bottom line

UTI Mid Cap Fund Direct Growth Plan has shown a better recent run than its longer-term record, but the 3-year and 5-year returns still sit behind the benchmark. Against peers, the recent and longer-cycle numbers are both softer than several available comparisons. The risk label is High Risk, and the portfolio is spread across 78 holdings with a modest top-heavy profile rather than a single dominant stock. It may suit investors who want mid-cap exposure and can tolerate swings while waiting for a longer compounding cycle.

Published on 10 September 2026 at 4:08 PM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.