Mirae Asset Banking and Financial Services Fund
Direct · GrowthAI Summary
The fund's SIP XIRR of 17.39% over 3Y beats the category average of 16.34%, though its 5Y XIRR of 15.14% trails the category's 16.77%. The 1Y XIRR of 11.39% is broadly in line with the category average of 11.58%. Calendar year returns show strong consistency, with positive returns in every year from 2020 to 2025 before a -7.66% return in 2026.
The maximum drawdown of -0.21% with a 148-day recovery appears mild, but the fund has experienced 4 drawdown events exceeding 10%, indicating meaningful downside episodes typical of a sector-focused financials fund. Calmar ratios of 0.73 (1Y), 0.83 (3Y), and 0.70 (5Y) suggest moderate risk-adjusted returns, with the 3Y window being the most efficient. The 233-day maximum drawdown duration highlights that patience is required during corrective phases.
As a thematic banking and financial services fund, the portfolio is concentrated in the financial sector, which limits diversification by design. The low expense ratio of 0.61% for a thematic offering is cost-efficient. Detailed holdings data is not provided, so investors should review the current portfolio for exposure to banks, NBFCs, and insurance companies.
The fund outperforms the category on 3Y SIP XIRR (17.39% vs 16.34%) but underperforms over longer 5Y (15.14% vs 16.77%) horizons, suggesting recent performance strength relative to earlier years. Calendar year returns between 2020 and 2025 ranged from 2.95% to 22.12%, showing steady positive delivery. The 2026 return of -7.66% reflects the current sector-wide correction.
This fund suits investors who already hold diversified core equity funds and want a tactical thematic allocation to India's financial sector. A horizon of at least 5 years is recommended given sector cyclicality and the 2026 drawdown. Investors should have a high risk tolerance, as thematic funds can underperform the broader market for extended periods.
- 3Y SIP XIRR of 17.39% outperforms the category average of 16.34%
- Low expense ratio of 0.61% for a thematic fund
- Consistent positive calendar year returns from 2020 through 2025, including 22.12% in 2023 and 20.35% in 2025
- 5Y SIP XIRR of 15.14% trails the category average of 16.77%
- Four drawdown events exceeding 10% and a negative 2026 return of -7.66% highlight sector concentration risk
Generated on 31-10-2026, 2:19 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.96 L | 14.9% | -24.3% | 39.9% |
| 3 Years | ₹36.00 L | ₹46.75 L | 17.4% | 3.9% | 26.5% |
| 5 Years | ₹60.00 L | ₹86.12 L | 15.3% | 10.3% | 19.5% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | Category avg |
|---|---|---|
| 1 Year | 14.9% | 11.6% |
| 3 Years | 17.4% | 16.3% |
| 5 Years | 15.3% | 16.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.3% | 15.2% | -6.9% | 36.5% | 0.90 | 3.38 | 94% | — | — |
| 3 Years | 17.4% | 17.4% | 11.0% | 26.2% | 3.52 | — | 100% | — | — |
| 5 Years | 14.7% | 14.6% | 9.5% | 19.1% | 4.03 | — | 100% | — | — |