Downside Capture Ratio of all Mid-cap Equity Mutual Funds

I have often written about the importance of downside protection when it comes to mutual fund selection and review. A simple metric that measures this is the downside capture ratio.  Here is a listing of downside capture ratio for all mid-cap equity mutual funds.


A batch processor is also included so that you can compile the list whenever you want.

Downside capture refers to the amount of benchmark losses captured by the fund. That is, a fund which has only captured 60% of benchmark losses is considered better than a fund which has captured 80% of losses. This ratio (expressed as a percentage) is known as downside capture.


Lower the downside capture the better. Sometimes, when the benchmark has moved down, the fund may move up. The  downside capture would then become negative (as it is a ratio). This is quite normal and a ‘good thing’.

More about the downside capture and also the upside capture can be found in the following posts:

Simplify Mutual Fund Analysis with Upside/Downside Capture Ratios

Understanding Upside and Downside Capture ratios


How Mutual Fund Upside and Downside Capture Ratios are calculated.

A visual tool: Mutual Fund Downside Protection Consistency Analysis.

The present batch analyzer is an extension of the Mutual Fund Downside Protection Calculator.

Here are a few screenshots.

The blue button is for batch processing.
List of all mid-cap funds listed at Value Research as on March 24th 2016 along with their benchmarks.
Capture ratio data sheet.

Download capture ratio data for Mid-cap funds (24th Mar. 2016). This will work in Google Sheets and in Mac Numbers and Mac Excel as well.

Download the capture ratio batch analyzer  (requires Win Excel 2007 or above with Macros enabled)

Create a "from start to finish" financial plan with this free robo advisory software template

Free Apps for your Android Phone

Install Financial Freedom App! (Google Play Store)
Install Freefincal Retirement Planner App! (Google Play Store)
Find out if you have enough to say "FU" to your employer (Google Play Store)

About Freefincal

Freefincal has open-source, comprehensive Excel spreadsheets, tools, analysis and unbiased, conflict of interest-free commentary on different aspects of personal finance and investing. If you find the content useful, please consider supporting us by (1) sharing our articles and (2) disabling ad-blockers for our site if you are using one. We do not accept sponsored posts, links or guest posts request from content writers and agencies.

Blog Comment Policy

Your thoughts are vital to the health of this blog and are the driving force behind the analysis and calculators that you see here. We welcome criticism and differing opinions. I will do my very best to respond to all comments asap. Please do not include hyperlinks or email ids in the comment body. Such comments will be moderated and I reserve the right to delete the entire comment or remove the links before approving them.

2 thoughts on “Downside Capture Ratio of all Mid-cap Equity Mutual Funds

  1. Hi Pattu,

    This is a great value add from you. It is marvelous. Now, I am getting greedy, Can you please have this bulk data for following:
    – Large Cap
    – Ultra Short Term Debt funds

    The second one for Ultra Short term is more important to risk averse people.

    Anjani Singh

  2. Dear Sir,
    This is a very nice one, but I do have a question though.
    Is the benchmark index, total return index meaning with dividends taken into account or just the index and not the TRI.

Do let us know what you think about the article