Nifty Midcap 150 Historical Returns
The Nifty Midcap 150 holds the 150 companies ranked 101 to 250 by full market value: India's mid-sized listed companies. Figures come from the NAV of a fund that tracks it, so returns include dividends and are after fund costs.
Price history
Month-end values, on a log scale (equal distances are equal percentage changes). Hover a year-end point for its value.
About Nifty Midcap 150
The Nifty Midcap 150 holds the 150 companies ranked 101 to 250 by full market value: India's mid-sized listed companies.
What it means for investors. Mid-caps have historically moved more than large-caps in both directions. The falls-and-recoveries and rolling-return views show how uneven the path has been, not only the average.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty Midcap 150 | 2.5% | 13.0% | 14.3% | n/a | n/a | n/a | −38% | 1 Oct 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far. Max fall: the largest fall from a previous peak over the whole history.
AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC. Proxy: Nippon India ETF Nifty Midcap 150 (total return after fund costs (proxy)). Data 1 Feb 2019 to 1 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 1 Oct | −2.5% |
| 2025 | 5.8% |
| 2024 | 24.1% |
| 2023 | 44.3% |
| 2022 | 3.6% |
| 2021 | 47.6% |
| 2020 | 25.3% |
| 2019 part year | 4.2% |
Over 6 complete calendar years since 2020, Nifty Midcap 150 rose in 6. Best: 2021 (+47.6%). Worst: 2022 (+3.6%).
Year-end to year-end, from AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC.
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Jan 2026 | Mar 2026 | −13.9% | 3 | May 2026 | 1 | — |
| Sep 2024 | Feb 2025 | −21.0% | 5 | Nov 2025 | 9 | — |
| Dec 2022 | Mar 2023 | −10.3% | 3 | May 2023 | 2 | — |
| Oct 2021 | Jun 2022 | −21.2% | 8 | Sep 2022 | 3 | Russia–Ukraine war begins; RBI off-cycle rate hike |
| Feb 2020 | Mar 2020 | −38.3% | 1 | Nov 2020 | 7 | COVID-19 declared a pandemic |
| Apr 2019 | Aug 2019 | −14.4% | 5 | Jan 2020 | 5 | General election results 2019 |
Each fall of 10% or more from a previous high, measured on daily data. The 6 deepest are shown. “Back to peak” is the first date it regained the previous high.
Rolling returns: the range of outcomes
| Holding period | Periods | Median | Worst | Best | Middle half | Positive |
|---|---|---|---|---|---|---|
| 1 year | 80 | 12.9% | −30.4% | 101.0% | 5.5% to 44.6% | 89% |
| 3 years | 56 | 24.4% | 13.4% | 36.9% | 21.7% to 28.1% | 100% |
| 5 years | 32 | 25.3% | 14.5% | 34.2% | 22.2% to 28.7% | 100% |
Every holding period starting at a month-end in the history (overlapping). Annualised for periods over a year.
How it has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Nifty 50 | 0.90 | 91 |
| Gold (domestic, ₹) | −0.13 | 91 |
| 10-year G-Sec (bond fund) | 0.08 | 91 |
| USD/INR | −0.47 | 91 |
| BSE Sensex | 0.88 | 91 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Questions
- What has Nifty Midcap 150 returned over the long run?
- Calculated from Nippon India ETF Nifty Midcap 150, Nifty Midcap 150 returned 14.3% a year over the 5 years to 1 Oct 2026, and 13.0% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty Midcap 150?
- In the data available from Feb 2019, the largest fall from a previous peak was −38.3%, from Feb 2020 to Mar 2020, and it regained the peak in Nov 2020 (7 months after the bottom). There were 6 falls of 10% or more, 3 of them 20% or more.
- How often has Nifty Midcap 150 been positive over one year?
- Across 80 one-year periods starting at month-ends, 89% were positive; the range was −30.4% to 101.0%. Over five-year periods (32), 100% were positive, with annualised returns from 14.5% to 34.2%.
Every Monday: index benchmarks and the median 1-month and 1-year return of every equity category, plus broad equity, hybrid and debt figures. Calculated from AMFI NAVs. Free; unsubscribe from any email.