ETMutualFunds has identified five mid-cap mutual funds as top investment options for February 2026, based on a methodology prioritizing indicate rolling returns, consistency over the past three years, downside risk, outperformance, and asset size, with a minimum asset threshold of Rs 50 crore.
The selected funds are Motilal Oswal Midcap Fund Direct-Growth, Axis Midcap Fund, PGIM India Midcap Opportunities Fund, Invesco India Midcap Fund, and Kotak Midcap Fund. Motilal Oswal Midcap Fund Direct-Growth has delivered a five-year return of 23.85%, according to ETMutualFunds’ analysis.
Axis Midcap Fund, launched in February 2011, has provided a three-year return of 21.5% based on rolling returns. The fund’s performance has shifted, moving from the fourth quartile to the third quartile in the last nine months.
PGIM India Midcap Opportunities Fund, established in December 2013, has achieved a three-year rolling return of approximately 26.4%. Although, it has remained in the fourth quartile for the preceding 22 months.
Invesco India Midcap Fund, originating in April 2007, has offered a three-year rolling return of around 24.5%. The fund has recently improved its ranking, moving from the second to the first quartile in the last nine months.
Kotak Midcap Fund, launched in March 2007, has generated a three-year return of approximately 24%, and currently resides in the second quartile after a five-month period.
Mid-cap funds, as defined by Moneycontrol, invest in companies ranked between 100 and 250 by market capitalization. These funds are considered suitable for investors with a time horizon of at least three to four years, seeking high returns but prepared for moderate potential losses.
Data from Moneycontrol, as of February 24, 2026, shows the ICICI Prudential MidCap Fund – Direct Plan – Growth with an AuM of Rs 6,969.01 crore, delivering returns of 0.56% (1 week), 7.36% (1 month), 3.91% (3 months), 7.25% (6 months), 1.45% (YTD), 28.51% (1 year), 15.76% (2 years), 27.19% (3 years), 21.73% (5 years), and 19.25% (10 years).
