{"id":253368,"date":"2026-09-17T15:06:49","date_gmt":"2026-09-17T09:36:49","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/"},"modified":"2026-09-17T15:06:49","modified_gmt":"2026-09-17T09:36:49","slug":"mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/","title":{"rendered":"Mirae Asset BSE India Defence ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/mirae-asset-bse-india-defence-etf-fof-g-direct-plan\">Mirae Asset BSE India Defence ETF FOF Direct Growth Plan<\/a> currently has a NAV of \u20b911.382 as of 16 September 2026 and an AUM of \u20b9123 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this is a niche, concentrated FOF with no long public return history yet, so it is better assessed through its underlying exposure and current risk profile than through trailing performance alone.<\/p>\n<p>The fund\u2019s structure is simple: it invests fully in a single underlying ETF, which means the outcome is closely tied to one theme. That can create sharper swings than broader diversified equity funds, so the fund suits investors who are comfortable with theme-led volatility and want a focused defence allocation rather than a core portfolio holding.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Mirae_Asset_BSE_India_Defence_ETF_FOF\" title=\"Should you BUY or HOLD Mirae Asset BSE India Defence ETF FOF?\">Should you BUY or HOLD Mirae Asset BSE India Defence ETF FOF?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#What_is_the_current_NAV_of_Mirae_Asset_BSE_India_Defence_ETF_FOF_Direct_Growth_Plan\" title=\"What is the current NAV of Mirae Asset BSE India Defence ETF FOF Direct Growth Plan?\">What is the current NAV of Mirae Asset BSE India Defence ETF FOF Direct Growth Plan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#What_are_the_funds_1-year_3-year_and_5-year_returns\" title=\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\">What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#How_does_the_fund_compare_with_the_benchmark_in_the_recent_period\" title=\"How does the fund compare with the benchmark in the recent period?\">How does the fund compare with the benchmark in the recent period?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#What_is_the_minimum_SIP_amount\" title=\"What is the minimum SIP amount?\">What is the minimum SIP amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Who_manages_the_fund\" title=\"Who manages the fund?\">Who manages the fund?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#What_is_the_portfolio_style_of_this_fund\" title=\"What is the portfolio style of this fund?\">What is the portfolio style of this fund?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Bottom_line\" title=\"Bottom line\">Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-bse-india-defence-etf-fof-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particular<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b911.382 as of 16 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b9123 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.0%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>23 Feb 2026<\/td>\n<\/tr>\n<tr>\n<td>Min SIP<\/td>\n<td>\u20b999<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>High Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Equity<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>0.05% on or before 15D, Nil after 15D<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Ekta Gala, Vishal Singh<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Ekta Gala and Vishal Singh.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>-6.95%<\/td>\n<td>-4.41%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>-2.64%<\/td>\n<td>-3.6%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The short-term pattern has been uneven. Over 1 month, the fund fell more than the benchmark, which points to sharper recent weakness in the underlying defence theme. Over 3 months, the fund still declined, but it held up a little better than the benchmark, so the gap versus Nifty 50 narrowed.<\/p>\n<p>Because the scheme launched in February 2026, the standard 1-year, 3-year and 5-year trailing return fields are not available yet. That means the current assessment depends more on near-term behaviour than on long compounding history. In practice, this makes the fund harder to judge as a standalone performance record and more useful as a thematic satellite allocation.<\/p>\n<p>Viewed alongside the time pattern, the fund has shown brief recoveries, but the overall path has remained choppy rather than steadily rising. Compared with the benchmark, the recent 1-month setback looks heavier, while the 3-month move suggests the fund may sometimes recover faster in shorter windows. We think that combination points to theme sensitivity rather than broad-market steadiness.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;border:1px solid #d8e3f0;background:#f7faff\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_Mirae_Asset_BSE_India_Defence_ETF_FOF\"><\/span>Should you BUY or HOLD Mirae Asset BSE India Defence ETF FOF?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>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.<\/p>\n<p><strong>Already holding Mirae Asset BSE India Defence ETF FOF? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/mirae-asset-bse-india-defence-etf-fof-g-direct-plan\">Mirae Asset BSE India Defence ETF FOF Direct Growth Plan<\/a><\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/axis-gold-and-silver-passive-fof-g-direct-plan\">Axis Gold and Silver Passive FoF Direct Growth Plan<\/a><\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/hsbc-gold-etf-fof-g-direct-plan\">HSBC Gold ETF FOF Direct Growth Plan<\/a><\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/bandhan-silver-etf-fof-g-direct-plan\">Bandhan Silver ETF FOF Direct Growth Plan<\/a><\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/the-wealth-company-gold-etf-fof-g-direct-plan\">The Wealth Company Gold ETF FOF Direct Growth Plan<\/a><\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/mirae-asset-bse-midcap-150-momentum-30-etf-fof-g-direct-plan\">Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan<\/a><\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.<\/p>\n<p>On the available return data, the current fund cannot yet be compared meaningfully on 1-year, 3-year or 5-year trails because those figures are not available for it or its peers in this slice. That leaves the short-term benchmark comparison as the clearest guide, and there the fund has been more volatile than a broad market index. The peer set also looks like a thematic and commodity-linked group, so the more important question is portfolio fit rather than trailing-return leadership.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin:20px 0;padding:16px 18px;border:1px solid #d8e3f0;border-radius:8px;background:#f7faff\">\n<p style=\"margin:0\"><strong>Want to know more?<\/strong> <a href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding<\/th>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Mirae Asset BSE India Defence ETF<\/td>\n<td>Domestic Mutual Funds Units<\/td>\n<td>100.21%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The single disclosed holding is the Mirae Asset BSE India Defence ETF, which carries a weight of 100.21%. That means the fund\u2019s outcome is likely to depend almost entirely on one underlying vehicle, so there is very little internal diversification at the fund-of-funds level.<\/p>\n<p>With only one disclosed holding, the weight does not fall away across a long list of positions. Instead, the structure is fully concentrated, and the disclosed exposure leaves the fund with a clear theme focus rather than a layered portfolio mix. That may make the fund more responsive when the defence theme moves well, but it could also magnify weak periods.<\/p>\n<p>Because the table contains the only disclosed holding, the portfolio is easy to read but also easy to misunderstand as diversified. Our reading is that this is a concentrated thematic wrapper, not a broad equity basket, so investors should treat it as a satellite allocation with a narrow driver set.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund fits investors who are comfortable with High Risk products and can tolerate short-term swings tied to a single defence-focused underlying ETF. The lack of a long trailing record means the case for it rests more on theme exposure than on demonstrated multi-year compounding.<\/p>\n<p>It is more suitable for a medium- to long-term horizon, where a theme-led allocation has time to play out. The main trade-off is concentration: you get targeted exposure, but you also give up diversification and may experience sharper short-term moves than with a broad equity fund.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Exit load: 0.05% on or before 15D, Nil after 15D.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_current_NAV_of_Mirae_Asset_BSE_India_Defence_ETF_FOF_Direct_Growth_Plan\"><\/span>What is the current NAV of Mirae Asset BSE India Defence ETF FOF Direct Growth Plan?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current NAV is \u20b911.382 as of 16 September 2026.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_are_the_funds_1-year_3-year_and_5-year_returns\"><\/span>What are the fund\u2019s 1-year, 3-year and 5-year returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_the_fund_compare_with_the_benchmark_in_the_recent_period\"><\/span>How does the fund compare with the benchmark in the recent period?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Over 1 month, the fund lagged the benchmark, while over 3 months it held up slightly better. The recent profile is therefore mixed rather than consistently ahead or behind.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_SIP_amount\"><\/span>What is the minimum SIP amount?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The minimum SIP amount is \u20b999.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_manages_the_fund\"><\/span>Who manages the fund?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund is managed by Ekta Gala and Vishal Singh.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_portfolio_style_of_this_fund\"><\/span>What is the portfolio style of this fund?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The portfolio is fully concentrated in one disclosed holding, Mirae Asset BSE India Defence ETF, so the fund is closely tied to a single theme.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mirae Asset BSE India Defence ETF FOF Direct Growth Plan is a concentrated thematic fund with a High Risk label and a very short live history. Recent movement has been mixed versus the benchmark, and the longer trailing-return fields are not yet available, so the investment case rests more on the defence theme than on established multi-year performance. The single-holding structure keeps the portfolio simple, but it also leaves very little diversification buffer for investors.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 17 September 2026 at 3:04 PM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;background:#eef5ff;border:1px solid #cddff7;text-align:center\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"Mirae Asset BSE India Defence ETF FOF Direct Growth Plan\",\"identifier\":\"mirae-asset-bse-india-defence-etf-fof-g-direct-plan\",\"category\":\"Equity\",\"dateCreated\":\"23 Feb 2026\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":11.382,\"valueReference\":\"as of 16 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"123 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.0\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Ekta Gala, Vishal Singh\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Mirae Asset BSE India Defence ETF FOF Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b911.382 as of 16 September 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available.\"}},{\"@type\":\"Question\",\"name\":\"How does the fund compare with the benchmark in the recent period?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Over 1 month, the fund lagged the benchmark, while over 3 months it held up slightly better. The recent profile is therefore mixed rather than consistently ahead or behind.\"}},{\"@type\":\"Question\",\"name\":\"What is the minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b999.\"}},{\"@type\":\"Question\",\"name\":\"Who manages the fund?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Ekta Gala and Vishal Singh.\"}},{\"@type\":\"Question\",\"name\":\"What is the portfolio style of this fund?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The portfolio is fully concentrated in one disclosed holding, Mirae Asset BSE India Defence ETF, so the fund is closely tied to a single theme.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\",\"description\":\"SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mirae Asset BSE India Defence ETF FOF Direct Growth Plan has a NAV of \u20b911.382 as of 16 September 2026, AUM of \u20b9123 Cr and a High Risk profile.<\/p>\n","protected":false},"author":38,"featured_media":253366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-253368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["253366"],"rank_math_title":["Mirae Asset BSE India Defence ETF FOF Review"],"rank_math_description":["Mirae Asset BSE India Defence ETF FOF Direct Growth Plan has a NAV of \u20b911.382 and recent 1M return of -6.95%. Review the portfolio and risk."],"rank_math_focus_keyword":["Mirae Asset BSE India Defence ETF FOF Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/Mirae_Asset_BSE_India_Defence_ETF_FOF_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_bearish.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/253368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=253368"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/253368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/253366"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=253368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=253368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=253368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}