Annual performance ranking of large cap, mid cap and small cap stocks since 2015
Source: ACE MF. Figures are calendar year returns in %. Large cap: Nifty 50 TRI; Mid cap: Nifty Midcap 150 TRI; Micro cap: Nifty Microcap 250 TRI; Small cap: Nifty Smallcap 250 TRI. *2025 return is year-to-date based on 18 March 2025 closing values. Other years’ returns are calculated between the first and last trading day of the year.
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Small & micro caps stumble after years of dominance
LARGE CAP
Top 100 stocks in terms of market capitalisation fit in the large-cap universe, and are considered relatively stable. The large-cap benchmark was ranked the lowest in five out of the last 11 years. Such stocks are widely preferred during market volatility and corrections. The large-cap benchmark has attained the highest rank in 2025 so far as it has lost the least among other categories.
MID CAP
Stocks that rank between 101 to 250 in terms of market cap belong to the mid-cap universe. Growth in quick service restaurants (QSR), building materials and logistics have led to a strong flow of money in the mid-cap stocks in the past. However, the segment trailed the micro-cap and small-cap benchmarks for four out of five years between 2020 and 2024.
SMALL CAP
These are stocks ranked 251 onwards in terms of market cap. The category has had the top rank in only one out of the past 11 years, but remained the second best-performing category for five years. Strong inflows through the mutual fund route led to a sharp rally in the small-cap
