HDFC Mid Cap fund has indeed under performed with a 5 Yr annualised growth of 5.98% whereas Axis midcap has given a better 5 Yr return 8.57%.
However please note that you must not jump across funds based on performance alone. Are mid caps right for you? Did you check your risk profile to understand this better?
Also many Mutual Funds tend to over diversify and hold multiple stocks which tends to dilute their performance. Hence examine the portfolio of stocks they hold carefully and make a decision.
For a complimentary portfolio health check, do check out http://jama.co.in/app/import
