JM Aggressive Hybrid Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
JM Aggressive Hybrid Fund Direct Growth Plan has a NAV of ₹140.6467 as of 09 Sep 2026 and an AUM of ₹699 Cr. Its 1-year, 3-year and 5-year returns are 2.17%, 12.85% and 13.4% respectively, and the scheme is tagged as High Risk. Our view is that this is a hybrid fund for investors who can accept meaningful volatility in exchange for a steadier long-run growth profile than the weakest recent period suggests.
The portfolio is built around a fairly wide mix of 67 holdings, but the top positions still matter. The fund looks better suited to a medium- to long-term allocation than to a short holding period, because the recent 1-year outcome has been much softer than the 3-year and 5-year record.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹140.6467 as of 09 Sep 2026 |
| AUM | ₹699 Cr |
| Expense Ratio | 0.66% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹1,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 1% on or before 60D, Nil after 60D |
| Fund Managers | Asit Bhandarkar, Satish Ramanathan, Deepak Gupta., Ruchi Fozdar |
The fund is managed by Asit Bhandarkar, Satish Ramanathan, Deepak Gupta. and Ruchi Fozdar.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.82% | -4.69% |
| 3M | 8.62% | 0.93% |
| 1Y | 2.17% | -7.16% |
| 3Y | 12.85% | 6% |
| 5Y | 13.4% | 5.87% |
In the short run, the fund has been choppy but resilient. The 1-month return is slightly negative, yet it still held up better than the benchmark, which was weaker over the same stretch. That is consistent with a hybrid portfolio that can absorb some equity weakness without moving in lockstep with the market.
The 3-month reading is more encouraging, with the fund clearly ahead of the benchmark. That matters because it shows the portfolio has been able to recover from weaker patches rather than staying stuck in them. For investors, that kind of rebound is often more relevant than a single weak month.
The longer record is stronger than the recent 1-year figure suggests. Over 3 years and 5 years, the fund has stayed above the benchmark by a useful margin. That gap tells us the strategy has added value over time, even though the most recent 12 months have been modest. Our view is that the key question here is not whether the fund can move with the market, but whether an investor can tolerate a year like the latest one while relying on the longer compounding trend.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD JM Aggressive Hybrid?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding JM Aggressive Hybrid? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| JM Aggressive Hybrid Fund Direct Growth Plan | 2.17% | 12.85% | 13.4% |
| Bank of India Aggressive Hybrid Fund Direct Growth Plan | 16.72% | 17.24% | 15.03% |
| HSBC Multi Asset Active FOF Direct Growth Plan | 16.2% | 15.61% | 12.48% |
| Quant Aggressive Hybrid Fund Direct Growth Plan | 11.83% | 13% | 13.19% |
| Navi Aggressive Hybrid Fund Direct Growth Plan | 10.06% | 12% | 11.52% |
| HSBC Aggressive Hybrid Active FOF Direct Growth Plan | 9.69% | 12.74% | 11.11% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return is much softer than the strongest peer figures here, while its 3-year and 5-year results are closer to the middle of the group than to the leading numbers. That makes the recent picture look weaker than the longer one. The longer record still compares reasonably well, but the peer set shows that several funds have produced stronger recent and medium-term outcomes. The message is mixed: the fund has delivered a decent long-run outcome, yet the latest year has not kept pace with the better peer showings.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| One 97 Communications Limited | IT | 3.64% |
| 6.36% GOI 16-Feb-2031 | Government Securities | 3.58% |
| Coforge Limited | IT | 3.29% |
| Eternal Limited | Retailing | 2.81% |
| Bajaj Finance Limited | Finance | 2.7% |
| Bharti Airtel Limited | Telecom | 2.61% |
| Reliance Industries Limited | Crude Oil | 2.43% |
| Kotak Mahindra Bank Limited | Bank | 2.28% |
| Apollo Hospitals Enterprise Limited | Healthcare | 2.16% |
| ICICI Bank Limited | Bank | 2.09% |
The top 10 holdings account for approximately 27.59% of the portfolio.
To see all holdings, visit the JM Aggressive Hybrid Fund Direct Growth Plan page
The largest holding is One 97 Communications Limited at 3.64%, which is not unusually large for an actively managed hybrid portfolio. The tenth holding is ICICI Bank Limited at 2.09%, so the drop from the first to the tenth position is present but not sharp. That suggests the visible portfolio is spread across multiple positions rather than dominated by one or two names.
Even so, the top 10 positions together still account for 27.59% of the portfolio, while the full disclosed list runs to 67 holdings. That combination points to a diversified structure with a meaningful tail of smaller positions beyond the top names. In our view, the top holdings may have greater influence on short-term results, but the longer list should help spread single-stock risk across more ideas and instruments.
Source data date: as of 09 Sep 2026
Who should invest
This fund may suit investors who can tolerate High Risk and stay invested through uneven phases. The 1-year return has been weak relative to the 3-year and 5-year record, so a short horizon is not a good fit. A longer horizon matters more here, because the medium-term and longer-term outcomes are clearly stronger than the latest year.
The fund also appeals more when an investor is comfortable with a hybrid approach that blends equity exposure with debt and other holdings. Compared with the benchmark, the fund has done better over 3 years and 5 years, but the recent year shows that the path can still be uneven. The main trade-off is accepting short-term volatility in exchange for the possibility of better longer-run compounding than the benchmark.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% on or before 60D, Nil after 60D.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of JM Aggressive Hybrid Fund Direct Growth Plan?
The current NAV is ₹140.6467 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 2.17% over 1 year, 12.85% over 3 years and 13.4% over 5 years.
How has it done against the benchmark?
It has stayed ahead of the benchmark over 3 years and 5 years, while the latest 1-year result is also better than the benchmark’s negative 1-year reading.
How does it compare with peer funds on recent returns?
Several peers have stronger 1-year, 3-year and 5-year figures, so the fund’s latest year looks softer than many alternatives. Its longer record is still respectable, but the peer set shows stronger outcomes in some cases.
Is there a minimum SIP?
Yes. The minimum SIP is ₹1,000.
What risk and exit load should investors note?
The fund is tagged as High Risk. The exit load is 1% on or before 60 days, and nil after 60 days.
Bottom line
JM Aggressive Hybrid Fund Direct Growth Plan has a mixed recent picture but a stronger medium- to long-term record. The latest year is soft, yet the 3-year and 5-year outcomes remain ahead of the benchmark and show better compounding than the weak short-term phase would suggest. The portfolio is fairly broad across 67 holdings, with the top positions meaningful but not overwhelming. This makes it more suitable for investors who can accept High Risk and hold through uneven stretches in return for longer-horizon growth potential.
Published on 10 September 2026 at 2:17 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.