JM Midcap Fund (Direct) - IDCW

JM Midcap Fund (Direct) - IDCW ranks among the stronger performers in the Mid Cap category, backed by a 4-star rating. Consistent 3-year performance combined with a strong rating makes this one of the more credible options in its space. TopFund's composite Health Score, which weighs rating, 3-year CAGR, expense ratio and fund size, puts it at 83/100.

Cost: At 0.86%, the expense ratio is roughly in line with the Mid Cap category average of 0.85% — cost isn't a standout factor either way for this fund.

Risk-adjusted performance: Over the trailing 1-year period, the fund shows a negative Sharpe ratio of -0.0 — over the past year, returns haven't kept pace with the volatility involved, even before accounting for the risk-free rate. Separately, annualised volatility of 17.78% is fairly typical for actively managed equity funds.

Who should invest: This fund is best suited to investors with a 5+ year horizon comfortable with meaningfully higher volatility than large cap funds. Given the Very High risk rating, this fund is not suited to short-term goals or investors who may need to exit within 2-3 years.