Mirae Asset Dynamic Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset Dynamic Term Fund Direct Growth Plan currently has a NAV of ₹18.7756 as of 11 September 2026 and manages ₹115 Cr. Its 1-year, 3-year and 5-year returns are 4.89%, 7% and 5.76%, respectively, and the risk category is Medium Risk.
Our view is that this is a debt fund with a steady long-term profile rather than a fast-moving return story. The portfolio is anchored by government securities, cash-like exposure and selected corporate debt, which supports a comparatively conservative construction, even though recent returns have been modest and the benchmark has moved unevenly.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹18.7756 as of 11 Sep 2026 |
| AUM | ₹115 Cr |
| Expense Ratio | 0.16% |
| Launch Date | 24 Mar 2017 |
| Min SIP | ₹99 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load |
| Fund Managers | Basant Bafna |
The fund is managed by Basant Bafna.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.72% | -3.66% |
| 3M | 0.43% | -1.91% |
| 1Y | 4.89% | -7.62% |
| 3Y | 7% | 6.22% |
| 5Y | 5.76% | 5.84% |
The short-term pattern has been mixed, but not unstable in a dramatic sense. The 1-month return was slightly negative, while the 3-month and 1-year periods stayed positive. That tells us the fund has been able to hold its ground in a choppy phase, even if the latest month was softer.
Against the benchmark, the fund has clearly been better over the latest 1-year period, while the benchmark remains more negative over the same horizon. The 3-month comparison also favours the fund, though the gap is narrower. This is a useful sign because it suggests the fund has been less affected by the weaker short-term move reflected in the benchmark.
Over the medium term, the picture is more balanced. The 3-year return is ahead of the benchmark, but the 5-year return is very close to it. That combination points to a fund that has preserved a reasonably consistent compounding pattern without taking on a very aggressive return profile. It has not produced a sharp outperformance streak, but it has avoided a long gap versus the benchmark as well.
The return path across the time series also looks relatively contained, with gradual changes rather than large swings. For a debt fund, that kind of behaviour matters more than headline spikes, because it suggests the portfolio has been managed with an emphasis on stability and controlled movements in NAV.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD Mirae Asset Dynamic Term?
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 Mirae Asset Dynamic Term? Thinking of investing now?
Peer comparison
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset Dynamic Term Fund Direct Growth Plan | 4.89% | 7% | 5.76% |
| Bandhan Dynamic Term Fund Direct Growth Plan | 7.32% | 7.72% | 6.13% |
| Kotak Dynamic Term Fund Direct Growth Plan | 6.88% | 7.91% | 6.62% |
| Axis Dynamic Term Fund Direct Growth Plan | 6.52% | 7.48% | 6.24% |
| 360 ONE Dynamic Term Fund Direct Growth Plan | 6.25% | 8.18% | 6.86% |
| ICICI Pru Dynamic Term Fund Direct Growth Plan | 5.89% | 7.77% | 7.04% |
The fund’s 1-year return trails the stronger peer returns shown here, so the latest phase has been more restrained than the better-performing comparables. That said, its 3-year return sits in the same broad band as the peer group, while the 5-year return is also near the lower-middle of the available set rather than materially detached from it.
What stands out is the split between shorter and longer horizons. The fund has not matched the better 1-year outcomes, but its longer-run numbers remain respectable enough to keep it in the conversation on consistency. That gives the fund a more steady than standout profile, which may appeal to investors who care more about keeping returns stable than chasing the strongest recent run.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 6.94% Government of India (MD 11/05/2036) | Government Securities | 21.66% |
| 6.90% Government of India (MD 15/04/2065) | Government Securities | 15.74% |
| TREPS | Cash & Cash Equivalents and Net Assets | 14.49% |
| 7.71% Government of India (MD 18/05/2066) | Government Securities | 8.75% |
| 7.28% REC Ltd. (MD 31/08/2029) | Corporate Debt | 8.58% |
| 7.53% Bajaj Housing Finance Ltd. (MD 28/09/2029)** | Corporate Debt | 8.58% |
| 7.12% Export-Import Bank of India (MD 27/06/2030)** | Corporate Debt | 8.57% |
| 7.30% Bharti Telecom Ltd. (MD 01/12/2027)** | Corporate Debt | 6.86% |
| 7.24% Government of India (MD 18/08/2055) | Government Securities | 4.17% |
| Net Receivables / (Payables) | Cash & Cash Equivalents and Net Assets | 2.03% |
The largest holding is the 6.94% Government of India paper due 11 May 2036 at 21.66%, which is large enough to matter meaningfully in day-to-day portfolio behaviour. The next few positions are also substantial, but the weight does not stay concentrated in a single security alone because the fund spreads meaningful exposure across other government papers, TREPS and corporate debt.
By the tenth disclosed holding, the weight has eased to 2.03%, so the portfolio does taper quite noticeably after the top line of holdings. That shape suggests a front-loaded structure rather than a flat one, where the biggest positions are likely to have greater influence than the tail. Even so, the top 10 holdings together account for approximately 99.43% of the portfolio, and there are 11 disclosed holding rows in total, which indicates that the visible portfolio is highly concentrated in the disclosed core positions.
This mix may support a more controlled risk profile than a portfolio dominated by lower-rated credit, because the disclosed holdings lean heavily toward sovereign paper, cash-like instruments and selected corporate debt. The trade-off is that such a structure may limit the pace of return generation compared with a more aggressive credit-heavy portfolio.
To see all holdings, visit the Mirae Asset Dynamic Term Fund Direct Growth Plan page
Source data date: as of 11 Sep 2026
Who should invest
This fund appears better suited to conservative-to-moderate debt investors who can accept Medium Risk and who are comfortable with returns that may move steadily rather than sharply. The 1-year result is better than the benchmark, while the 3-year and 5-year numbers show a calmer, more measured compounding pattern. That makes the fund more relevant for investors with a medium to long horizon who want debt exposure with some stability.
The main trade-off is straightforward: the portfolio’s relatively defensive construction may help limit volatility, but it may also keep upside more modest than in funds that take a more aggressive credit stance. Investors who value consistency, a clear sovereign-heavy anchor and a comparatively restrained return profile may find the fund easier to fit into a broader debt allocation.
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: No exit load.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset Dynamic Term Fund Direct Growth Plan?
The current NAV is ₹18.7756 as of 11 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 4.89%, the 3-year return is 7%, and the 5-year return is 5.76%.
How does the fund compare with the benchmark?
It is ahead of the benchmark over 1 year and 3 years, while the 5-year result is very close to the benchmark.
How does it compare with peer funds on available return data?
Its 1-year return is below the stronger peer figures shown here, while its 3-year and 5-year returns sit closer to the middle of the peer range.
What is the minimum SIP amount?
The minimum SIP amount is ₹99.
Who manages the fund and what is the exit load?
The fund is managed by Basant Bafna, and it has no exit load.
Bottom line
Mirae Asset Dynamic Term Fund Direct Growth Plan shows a steadier long-term debt profile than a high-volatility one. Its recent return pattern is mixed but still compares reasonably with the benchmark, while peer comparison suggests a more measured outcome than the strongest recent contenders. The portfolio is anchored by government securities, TREPS and selected corporate debt, which supports a relatively defensive structure. That combination may suit investors who want a debt fund with controlled behaviour and can accept modest rather than aggressive return expectations.
Published on 15 September 2026 at 3:15 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.