Mirae Asset Diversified Equity Allocator Passive FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Mirae Asset Diversified Equity Allocator Passive FOF Direct Growth Plan is at ₹24.534 as of 17 Sep 2026, with scheme AUM of ₹966 Cr. Its 1-year, 3-year and 5-year returns are -3.25%, 8.72% and 8.75%, respectively, and the fund carries a High Risk label.

Our view is that this is a diversified equity allocator with a low expense ratio and a simple three-holding structure, so the main question is not complexity but whether an investor is comfortable with equity-linked swings across market-cap buckets. The longer record is steadier than the 1-year figure, but the short-term profile is still soft versus the benchmark.

Quick facts

Particular	Details
NAV	₹24.534 as of 17 Sep 2026
AUM	₹966 Cr
Expense Ratio	0.05%
Launch Date	21 Sep 2020
Min SIP	₹99
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	0.05% on or before 5D, Nil after 5D
Fund Managers	Siddharth Srivastava

The fund is managed by Siddharth Srivastava.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.90%	-3.66%
3M	-2.47%	-3.71%
1Y	-3.25%	-7.13%
3Y	8.72%	5.82%
5Y	8.75%	5.72%

The recent pattern is mixed. Over 1 month, the fund slipped a little more than the benchmark, which tells us the latest phase has not been smooth even though the move was contained. Over 3 months, however, the fund held up better than the benchmark, which suggests it has recently cushioned part of the market’s weakness.

The 1-year figure is still negative, but it is less weak than the benchmark. That matters because it shows the fund has not been the main driver of underperformance in the last 12 months; rather, both the fund and the index have been under pressure, with the fund losing less.

The longer record is more constructive. At 3 years and 5 years, the fund is ahead of the benchmark, and the gap is wide enough to matter for a long-horizon investor. The return path also looks more uneven than a straight line, so our view is that this is better suited to investors who can stay invested through stretches of weak one-year performance while focusing on the longer compounding pattern.

For a fund of this type, that mix is important: the short-term path can look noisy, but the medium- and longer-term returns are doing better than the benchmark, which points to stronger follow-through once the holding period extends.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Mirae Asset Diversified Equity Allocator Passive FOF?

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
Mirae Asset Diversified Equity Allocator Passive FOF Direct Growth Plan	-3.25%	8.72%	8.75%
SBI Silver ETF FOF Direct Growth Plan	76.71%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	75.91%	45.12%	Data not available
Axis Silver FoF Direct Growth Plan	74.42%	45.18%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	73.46%	Data not available	Data not available
Nippon India Silver ETF FOF Direct Growth Plan	72.65%	43.94%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available 1-year numbers, the fund trails the silver-foil peer set by a very wide margin, while the longer record is more measured and clearly positive rather than explosive. That short-term versus longer-term split matters because the peer set has much stronger recent momentum, but the current fund’s own 3-year and 5-year figures are still constructive against its benchmark.

So the peer picture is mixed: recent return data looks far weaker than the silver peers, yet the fund’s longer holding-period profile remains steadier than its one-year result suggests. For an investor comparing only the figures that are available here, this is not a short-term momentum story; it is a longer-horizon equity-allocation story.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Mirae Asset Nifty 50 ETF	Domestic Mutual Funds Units	65.1%
Mirae Asset Nifty Midcap 150 ETF	Domestic Mutual Funds Units	20%
Mirae Asset Nifty Next 50 ETF	Domestic Mutual Funds Units	14.91%

The largest holding, Mirae Asset Nifty 50 ETF, carries a 65.1% weight, so it is likely to have the greatest influence on the fund’s day-to-day movement. The second and third holdings are much smaller at 20% and 14.91%, which shows a clear drop-off after the core allocation.

Because the disclosed portfolio contains only three holdings and they add up to 100%, the structure is concentrated rather than spread across a long tail. That does not automatically make it unsuitable, but it does mean the fund’s behaviour may remain closely tied to the performance of these passive building blocks, especially the Nifty 50 allocation.

From a portfolio-construction angle, the mix may still appeal to investors who want equity exposure distributed across large-cap, mid-cap and next-50 segments without holding many individual lines. The trade-off is that the small number of underlying positions leaves less room for diversification within the disclosed portfolio itself.

Source data date: as of 17 Sep 2026

Who should invest

This fund fits investors who are comfortable with a High Risk profile and can stay invested for multiple years. The one-year return is negative, so it is not a fund for anyone who needs a stable near-term outcome.

The 3-year and 5-year returns are better than the benchmark, which makes the long-horizon case more relevant than the recent one-year setback. The main trade-off is that you are accepting short-term volatility in exchange for a portfolio that has produced better longer-run results than its benchmark and that remains concentrated in three passive equity exposures.

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: 0.05% if units are sold on or before 5D; nil after 5D.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Mirae Asset Diversified Equity Allocator Passive FOF Direct Growth Plan?
The current NAV is ₹24.534 as of 17 Sep 2026.

How has the fund performed over 1 year, 3 years and 5 years?
Its returns are -3.25% over 1 year, 8.72% over 3 years and 8.75% over 5 years.

How does it compare with the benchmark?
It is ahead of the benchmark over 3 years and 5 years, and less weak than the benchmark over 1 year. Over 1 month, it slipped a little more than the benchmark, while over 3 months it held up better.

How does it compare with the peer funds listed here?
The available 1-year figures for the silver ETF FoF peers are much stronger, while the fund’s own 3-year and 5-year numbers are steadier and positive. The comparison points to very different recent momentum across the group.

What is the exit load?
The exit load is 0.05% if units are sold on or before 5D, and nil after 5D.

Who manages the fund and what is the portfolio style?
The fund is managed by Siddharth Srivastava. The disclosed portfolio is concentrated in three passive ETF holdings, led by Mirae Asset Nifty 50 ETF at 65.1%.

Bottom line

This fund’s recent performance is softer than its longer-term record, but the 3-year and 5-year figures are still better than the benchmark. Compared with the peer set shown here, the recent 1-year result is much weaker, even though the fund’s own longer-horizon pattern is more stable. The risk label is High Risk, and the portfolio is concentrated in three passive ETF holdings, with the Nifty 50 ETF dominating the mix. That combination makes it more relevant for investors with a long horizon who can tolerate uneven short-term moves.

Published on 18 September 2026 at 4:42 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.