Groww Dynamic Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Groww Dynamic Term Fund Direct Growth Plan has a current NAV of ₹1578.2867 as of 15 Sep 2026 and an AUM of ₹25 Cr. Its 1-year, 3-year and 5-year returns are 3.35%, 5.77% and 5.06%, and the scheme sits in the Medium Risk category.

Our view is that this is a conservative debt-oriented option with a steady, but not high-growth, return profile. The portfolio mix leans heavily toward government securities, certificates of deposit and cash-like instruments, which supports stability, though the benchmark has been choppier over shorter periods.

Quick facts

Particular	Details
NAV	₹1,578.2867 as of 15 Sep 2026
AUM	₹25 Cr
Expense Ratio	0.45%
Launch Date	04 Dec 2018
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Kaustubh Sule, Wilfred Gonsalves

The fund is managed by Kaustubh Sule and Wilfred Gonsalves.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.27%	-4.81%
3M	1.13%	-3.63%
1Y	3.35%	-8.27%
3Y	5.77%	5.59%
5Y	5.06%	5.58%

The recent pattern is modest rather than forceful. Over 1 month and 3 months, the fund stayed positive while the benchmark was negative, which points to a smoother short-term path for the fund than the index.

The 1-year figure is more important for the current story. A 3.35% return is positive, but it trails the 3-year and 5-year pace, so the latest year looks softer than the longer run. That usually matters for investors because it suggests the fund has not been compounding at the same speed recently as it did across the fuller cycle.

Over 3 years, the fund’s 5.77% return is marginally ahead of the benchmark’s 5.59%, while over 5 years it is slightly behind the benchmark’s 5.58%. That split tells us the fund has broadly tracked the benchmark over longer periods rather than separating decisively from it. In our view, the return path is consistent with a relatively stable debt scheme: less dramatic swings, limited downside in weak benchmark months, and moderate long-term compounding.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Groww 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Groww Dynamic Term Fund Direct Growth Plan	3.35%	5.77%	5.06%
Bandhan Dynamic Term Fund Direct Growth Plan	7.14%	7.58%	6.11%
Axis Dynamic Term Fund Direct Growth Plan	6.52%	7.48%	6.24%
Kotak Dynamic Term Fund Direct Growth Plan	6.38%	7.77%	6.57%
SBI Dynamic Term Fund Direct Growth Plan	5.68%	7.46%	6.77%
360 ONE Dynamic Term Fund Direct Growth Plan	5.68%	7.99%	6.8%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Against the peer set, the fund’s 1-year return is clearly softer than the better recent numbers in the group, where several funds are above 5.5% and one is above 7%. The gap is smaller on longer horizons, but the fund still trails most of the available 3-year and 5-year figures.

That said, the comparison is not one-sided. The fund’s 3-year return is above its 1-year return trend, which suggests a steadier medium-term outcome than the latest year alone would imply. The 5-year figure remains lower than most peers with available data, so the longer view still indicates a more restrained compounding profile. Short-term and longer-term peer comparisons therefore point in the same direction: the fund has been more defensive than the stronger-returning peers, but also less rewarding on a pure return basis.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.71% GOI 18-May-2066	Government Securities	19.85%
NABARD 18-Mar-2027#	Certificate of Deposit	11.38%
Sidbi 18-Feb-2027#	Certificate of Deposit	11.05%
TREPS 01-Sep-2026	Cash & Cash Equivalents and Net Assets	10.97%
Axis Bank Limited 14-Jan-2027**#	Certificate of Deposit	10.74%
Indian Bank 22-Jan-2027**#	Certificate of Deposit	10.73%
ICICI Bank Limited 08-Mar-2027**#	Certificate of Deposit	10.64%
7.725% Larsen & Toubro Limited 28-Apr-2028**	Corporate Debt	3.95%
7.35% Exim Bank 27-Jul-2028**	Corporate Debt	3.93%
7.38% GOI Mat 20-Jun-2027	Government Securities	1.99%

The top 10 holdings account for approximately 95.23% of the portfolio.

To see all holdings, visit the Groww Dynamic Term Fund Direct Growth Plan page

The largest holding at 19.85% is a government security, so the scheme begins with a meaningful sovereign allocation rather than a pure cash-like position. The next six holdings are all clustered close together in the 10.64% to 11.38% band, which means the portfolio is anchored by a few large positions rather than a long, even spread.

Weight then drops more sharply after the seventh line item. The eighth and ninth positions are below 4%, and the tenth is under 2%, so the tail beyond the core positions is much lighter. That shape may help contain volatility, but it also means the leading positions are likely to have greater influence on the portfolio’s day-to-day behaviour.

Because the visible holdings account for 95.23% across 10 disclosed rows out of 14 total holdings, the overall structure looks fairly concentrated at the top, with some remaining diversification in the smaller positions. In our view, that mix suits an investor who values steadier credit and government-backed exposure, but it does not offer the broad diversification profile of a more widely spread portfolio.

Source data date: as of 15 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a Medium Risk debt scheme and want a portfolio that has behaved more steadily than the benchmark in weaker short-term periods. The 1-year return is lower than the 3-year and 5-year figures, so investors should be prepared for a return pattern that can move around rather than follow a straight line.

A longer holding period makes more sense here than a short one, because the 3-year and 5-year figures better reflect the fund’s style than the latest year alone. The key trade-off is that the portfolio’s relatively defensive structure may support stability, but it has not matched the stronger peer numbers on a sustained basis. Investors who want steady debt exposure and can accept moderate returns may find the profile relevant.

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 15 Sep 2026

Frequently asked questions

What is the current NAV of Groww Dynamic Term Fund Direct Growth Plan?
The current NAV is ₹1578.2867 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 3.35% for 1 year, 5.77% for 3 years and 5.06% for 5 years.

How has the fund done against its benchmark?
It has slightly outpaced the benchmark over 3 years, with 5.77% versus 5.59%, but it trails over 5 years at 5.06% versus 5.58%. In the shorter 1-month, 3-month and 1-year windows, it has held up better than the benchmark.

How does it compare with peer funds on returns?
Its recent and longer-term returns are lower than several peer funds in the comparison set. The gap is especially visible in the 1-year numbers, while the 3-year and 5-year figures are still on the softer side relative to those peers.

What is the minimum SIP amount?
The minimum SIP amount is not stated here, so we are not listing one.

Who manages the fund and what is the exit load?
The fund is managed by Kaustubh Sule and Wilfred Gonsalves. There is no exit load.

Bottom line

Groww Dynamic Term Fund Direct Growth Plan looks like a steadier debt fund rather than a standout return-chaser. Its latest year is softer than its 3-year and 5-year history, and the peer comparison also shows that other funds have posted stronger numbers over the same horizons. The portfolio is anchored by a few large government and high-grade credit positions, which may support stability but also keeps the return profile measured. It may appeal to investors who want moderate debt exposure and are comfortable with a Medium Risk label.

Published on 16 September 2026 at 9:29 AM 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.