BANK OF INDIA Midcap Tax Fund Series 2
ELSS · Bank of India Investment Managers Private Limited
Among the 225 funds in its category, this one has grown money faster than most. ₹1 lakh invested 5 years ago would be about ₹1.6 lakh today. Investing ₹10,000 every month for the last 5 years would have put in ₹6.1 lakh and grown it to about ₹8.3 lakh. Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹65,760. Expect meaningful ups and downs on the way.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.BANK OF INDIA Midcap Tax Fund Series 2 is a ELSS fund from Bank of India Investment Managers Private Limited. It has a track record of about 7.9 years. As of the latest data it carries an RS rating of 95/99 (its recent momentum versus category peers) and a King Score of 68/100 (a long-term quality composite). The current NAV is ₹35.72 (as of 2026-09-16).
Growth of ₹100 - last 5 years
BANK OF INDIA Midcap Tax Fund Series 2 returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -1.03% | -3.86% |
| 3 months | 4.05% | 0.22% |
| 6 months | 16.96% | 8.04% |
| 1 year | 4.75% | 0.06% |
| 3 years (CAGR) | 12.87% | 10.96% |
| 5 years (CAGR) | 10.19% | 11.57% |
The last 5 years return is 10.19% a year (₹1 lakh → ₹1.6 lakh), and the last 3 years return is 12.87% - ahead of its category's 10.96% average by 1.9 points. Its trailing one-year return is 4.75%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | BANK OF INDIA Midcap T | Benchmark |
|---|---|---|
| 2019 | +9.7% | +7.7% |
| 2020 | +29.1% | +16.7% |
| 2021 | +46.8% | +30.2% |
| 2022 | -5.5% | +3.0% |
| 2023 | +34.1% | +25.8% |
| 2024 | +18.8% | +15.2% |
| 2025 | +2.4% | +6.7% |
| 2026 | +5.2% | -5.8% |
BANK OF INDIA Midcap Tax Fund Series 2 beat its benchmark in 6 of the last 8 calendar years. That is a strong hit-rate - most active funds fail to clear their index this often. Consistency against the benchmark matters more than any single great year.
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in BANK OF INDIA Midcap Tax Fund Series 2 would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹420,411 | 8.47% |
| 5 years | ₹610,000 | ₹833,235 | 12.41% |
Over 5 years, ₹610,000 invested in monthly instalments would have grown to about ₹833,235 - an XIRR of 12.41%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -34.24% | -36.03% |
| Worst drawdown (3Y) | -23.9% | -19.53% |
| Volatility (1Y) | 18.58% | 18.02% |
| Sharpe (3Y) | 0.35 | 0.28 |
| Sortino (3Y) | 0.6 | 0.51 |
| Beta (3Y) | 1.13 | 0.99 |
| Alpha (3Y) | 4.01% | 2.56% |
| Up capture | 114.0% | 100.2% |
| Down capture | 104.9% | 93.1% |
| Bull-market return | 36.5% | 29.66% |
| Bear-market return | -28.5% | -30.22% |
Timing matters more than people admit: the best possible 1-year stretch in BANK OF INDIA Midcap Tax Fund Series 2 (starting 2020-03-23) gained 93.7%, while the worst (starting 2019-03-22) lost 20.5%. The worst peak-to-bottom fall BANK OF INDIA Midcap Tax Fund Series 2 has ever put investors through is -34.24% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -28.5% annualised, versus 36.5% in rising markets. It has captured roughly 114.0% of its benchmark's up-moves and 104.9% of its down-moves.
How BANK OF INDIA Midcap Tax Fund Series 2 behaves when markets fall
When the market is falling (the Nifty below its 200-day average), BANK OF INDIA Midcap Tax Fund Series 2 has historically returned about -28.5% annualised, versus roughly 36.5% when the market is rising. Its deepest fall on record is -34.24%. Right now it sits about 1.95% below its all-time high (last hit 2026-09-11). The real question isn't the average year - it's whether you could hold on through the worst one.
How BANK OF INDIA Midcap Tax Fund Series 2 ranks in its category
Percentile versus its ~225 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
| Measure | Value |
|---|---|
| Median 3Y rolling CAGR | 21.21% |
| 3Y windows positive | 100.0% |
| Worst 3Y window | 10.8% |
| Median 5Y rolling CAGR | 22.26% |
Instead of one lucky start date, rolling returns test every start date. Across all 3-year windows in its history, BANK OF INDIA Midcap Tax Fund Series 2 returned a median of 21.21% a year, and 100.0% of those windows were positive.
Cost & fund basics
| Detail | Value |
|---|---|
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹500 |
| Fund size (AUM) | ₹2 Cr |
| Age | 7.9 years |
| Plan / Option | Direct · Growth |
| Benchmark | NIFTY500 |
How BANK OF INDIA Midcap Tax Fund Series 2 compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| WhiteOak Capital ELSS Tax Saver Fund | 80 | 96 | 15.3% |
| BARODA BNP PARIBAS ELSS Tax Saver Fund | 72 | 92 | 14.2% |
| SBI Long Term Advantage Fund - Series V | 77 | 91 | 19.1% |
| HSBC ELSS Tax saver Fund | 79 | 90 | 14.9% |
| Motilal Oswal ELSS Tax Saver Fund | 97 | 82 | 20.7% |
| JM ELSS Tax Saver Fund (Direct) | 99 | 80 | 15.4% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
BANK OF INDIA Midcap Tax Fund Series 2 review: the bottom line
Related
Frequently asked questions
Is BANK OF INDIA Midcap Tax Fund Series 2 a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, BANK OF INDIA Midcap Tax Fund Series 2 scores 68/100 on our King Score and RS 95/99 within its category, has compounded 12.87% a year over three years, and its worst drawdown was -34.24%. Compare those against your needs and the peer table above.
What is the NAV of BANK OF INDIA Midcap Tax Fund Series 2 today?
The latest NAV is ₹35.72 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
Is BANK OF INDIA Midcap Tax Fund Series 2 safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -34.24% - ₹1 lakh briefly becoming about ₹65,760. As a index & fof, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is BANK OF INDIA Midcap Tax Fund Series 2 good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 5 years grew ₹6.1 lakh into about ₹8.3 lakh (XIRR 12.41%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of BANK OF INDIA Midcap Tax Fund Series 2?
A ₹10,000/month SIP over 5 years would have grown to about ₹833,235 (an XIRR of 12.41%) on ₹610,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does BANK OF INDIA Midcap Tax Fund Series 2 rank among similar funds?
On 3-year returns it sits around the 88th percentile of its category, and its consistency ranks 32th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is BANK OF INDIA Midcap Tax Fund Series 2 tax-efficient / what about capital gains?
As a index & fof, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See BANK OF INDIA Midcap Tax Fund Series 2 live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.