Mirae Asset Banking and Financial Services Fund
Direct · GrowthAI Summary
The fund has delivered SIP XIRR of 15.66% over 1Y, 18.05% over 3Y, and 15.98% over 5Y. Its 3Y XIRR of 18.05% beats the category average of 17.72%, but the 1Y (15.66% vs 15.91%) and 5Y (15.98% vs 17.04%) figures trail category peers. Lump-sum rolling returns of 15.76% (1Y), 17.73% (3Y), and 15.47% (5Y) show a broadly similar return profile across investment modes.
The maximum drawdown of -21.04% with a 233-day drawdown duration and 148-day recovery reflects the inherent cyclicality of the banking and financial services sector, with four drawdown events exceeding 10%. Calmar ratios of 0.75 (1Y), 0.84 (3Y), and 0.74 (5Y) indicate moderate risk-adjusted returns, with the 3Y window showing the best return-to-drawdown trade-off. Investors should expect meaningful interim losses typical of sector-focused financial funds.
As a thematic fund, the portfolio is concentrated entirely in banking and financial services stocks, which limits diversification by design. No individual holdings data was provided, so stock-level concentration cannot be assessed here, but sector concentration is inherently high for this category. The low expense ratio of 0.61% for a direct plan helps keep costs from eroding returns.
The fund outperforms the category average SIP XIRR over 3Y (18.05% vs 17.72%) but lags over 5Y (15.98% vs 17.04%), suggesting recent performance is stronger than its longer-term record. Calendar year returns show reasonable consistency, with positive returns from 2021 to 2025 ranging from 11.94% to 22.12%, though 2026 is currently negative at -1.38%. The weaker 5Y and longer category comparisons indicate the fund is not a consistent category leader.
This fund suits investors who already hold diversified equity funds and want a tactical or satellite allocation to the financial sector, with a recommended horizon of at least 5 years to ride out sector cycles. It requires a high risk tolerance given the -21% maximum drawdown and sector concentration. Conservative investors or those seeking all-weather diversification should avoid thematic exposure of this kind.
- 3Y SIP XIRR of 18.05% exceeds the category average of 17.72%
- Low direct-plan expense ratio of 0.61% keeps cost drag minimal
- Consistent positive calendar year returns from 2021 through 2025, including 22.12% in 2023 and 20.35% in 2025
- 5Y SIP XIRR of 15.98% trails the category average of 17.04%, indicating weaker long-term relative performance
- Sector concentration with a maximum drawdown of -21.04% and four drawdown events exceeding 10%
Generated on 11-09-2026, 3:21 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 | ₹12.98 L | 15.7% | -24.3% | 39.9% |
| 3 Years | ₹36.00 L | ₹46.92 L | 18.1% | 6.1% | 26.5% |
| 5 Years | ₹60.00 L | ₹86.82 L | 16.0% | 11.2% | 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 | 15.7% | 15.9% |
| 3 Years | 18.1% | 17.7% |
| 5 Years | 16.0% | 17.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 15.8% | 15.8% | -6.9% | 36.5% | 0.97 | 3.92 | 95% | — | — |
| 3 Years | 17.7% | 17.7% | 11.9% | 26.2% | 3.90 | — | 100% | — | — |
| 5 Years | 15.5% | 15.1% | 13.0% | 19.1% | 5.83 | — | 100% | — | — |