DebtMedium Duration FundRegularIDCWModerate

SBI Medium Term Fund

Q: What is the NAV of SBI Medium Term Fund?

As of 05 Oct 2026, the NAV of SBI Medium Term Fund is ₹21.18 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has SBI Medium Term Fund delivered?

SBI Medium Term Fund has returned +5.20% over 1 year, +6.99% per year over 3 years, +6.13% per year over 5 years and +3.53% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of SBI Medium Term Fund?

SBI Medium Term Fund charges an expense ratio of 1.22% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of SBI Medium Term Fund?

SBI Medium Term Fund's largest holdings are 6.94% CGL 2036 (6.9%), 6.68% CGL 2040 (5.6%), Godrej Properties Ltd. (4.6%), JSW Kalinga Steel Ltd. (4.3%) and Yes Bank Ltd. (3.5%). Holdings are disclosed monthly and change over time.

Q: How risky is SBI Medium Term Fund?

SBI Medium Term Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.2% and its worst peak-to-trough fall in our sample was -15.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.39 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Medium Term Fund's 0.39 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of SBI Medium Term Fund?

SBI Medium Term Fund is benchmarked against the NIFTY Medium Duration Debt Index. Its alpha and beta on this page are measured against that index.

Q: Who manages SBI Medium Term Fund?

SBI Medium Term Fund is managed by Lokesh Mallya and Mohit Jain at SBI.

Q: How is SBI Medium Term Fund taxed?

SBI Medium Term Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

SBI Mutual Fund · Best Medium Duration Mutual Funds

NAV

₹21.18

+0.06% 1D

as of 05 Oct 2026

This is the Regular plan of SBI Medium Term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

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NAV history

+5.12%absolute

52-week rangePrev NAV ₹21.17

Latest ₹21.18

Low ₹20.1586th percentile of its 52-week rangeHigh ₹21.34

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Medium Duration Fund peers to rank yet

Risk—

Volatility 1.2% (no category average yet)

Cost—

1.2% expense (no category average yet)

ConsistencyHigh

94% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Consistent — positive in 94% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.22%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

0.39

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

—

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

NIFTY Medium Duration Debt Index

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

03 Apr 2006

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-0.66%

Absolute return over the last 3 months (not annualized)

+0.08%

Absolute return over the last 6 months (not annualized)

+3.60%

Absolute return since 1 Jan of this year (not annualized)

+3.81%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+5.20%

3-year annualized return (CAGR)

+6.99%

5-year annualized return (CAGR)

+6.13%

10-year annualized return (CAGR)

+5.29%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+3.53%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.25%

Excess return per unit of total volatility (rf = 6.5%)

0.39

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.55

Largest peak-to-trough decline over full history

-15.50%

Benchmark ratios

Not shown for Medium Duration Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Medium Duration Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.66%	—	—
3M abs	+0.08%	—	—
6M abs	+3.60%	—	—
1Y CAGR	+5.20%	—	—
3Y CAGR	+6.99%	—	—
5Y CAGR	+6.13%	—	—

Category average across peers in Medium Duration Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.06L

Absolute

+17.66%

XIRR

+6.65%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into SBI Medium Term Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+3.81%
2025	+7.46%
2024	+8.11%
2023	+7.24%
2022	+3.42%
2021	+3.84%
2020	+12.27%
2019	+4.59%
2018	+1.38%
2017	+0.15%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

4,974

Expense ratio

1.22%

YTM (from holdings)

8.38%

Average maturity

3.98 years

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Medium Duration Fund

Compare all


SBI Medium Term FundThis fund SBI · Regular · IDCW	—	+5.20%	+6.99%	+6.13%	—	1.22%	—
Kotak Medium Term Fund Kotak Mahindra · Regular · Standard · IDCW	—	+3.45%	+7.24%	+5.93%	—	—	—
HDFC Medium Term Fund HDFC · Regular · IDCW	—	+5.45%	+7.09%	+3.57%	—	1.30%	—
Bandhan Medium Term Fund Bandhan · Regular · Periodic IDCW	—	+4.83%	+6.76%	+5.29%	—	—	—
Invesco India Medium Term Fund Invesco · Regular · Discretionary IDCW	—	+3.40%	+6.22%	+5.07%	—	—	—
UTI Medium Term Fund UTI · Regular · Discontinued · Flexi IDCW	—	+3.50%	+6.03%	+4.47%	—	—	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt89.19%
Real Estate / REITs6.50%
Cash & Equivalents3.98%
Other0.33%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Godrej Properties Ltd.

4.64%

JSW Kalinga Steel Ltd.

4.31%

Yes Bank Ltd.

3.47%

Aditya Birla Real Estate Ltd.

3.40%

Renew Solar Energy (Jharkhand Five) Pvt. Ltd.

3.36%

JTPM Metal Traders Ltd.

3.32%

Renserv Global Pvt Ltd.

3.16%

Motilal Oswal Finvest Ltd.

3.10%

GMR Airports Ltd.

2.96%

Kogta Financial (India) Ltd.

2.83%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-15.5%07 Jan 2008 → 24 Oct 2008
Fell over 10 months, back to the old high on 15 Sep 2009 — 11 months under water after the low.
-7.6%17 May 2013 → 28 Aug 2013
Fell over 3 months, back to the old high on 24 Mar 2014 — 7 months under water after the low.
-7.3%22 Sep 2009 → 30 Dec 2011
Fell over 2.3 years, back to the old high on 29 Nov 2012 — 11 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.

Launched

28 Jun 1987

Total AUM

₹12,57,352Cr+0.7% QoQ

Avg AUM · April - June 2026

Website

sbimf.com

Fund Managers

LMLokesh MallyaManaging since 01 Dec 2023

Role

Fund Manager Credit Analyst

Education

MBA, CFA, FRM

Experience

Lokesh Mallya joined SBIFML in October 2014 as Credit Analyst. He has over 14 years of experience in research in the Indian fixed income market and fund management. Prior to joining SBIFML, Mr. Mallya was working with Birla SunLife Asset Management Company Limited as Fund Manager (Sept 2009-Sept 2014) and as Credit Analyst (July 2006-Aug 2009). Lokesh is presently managing SBI Credit Risk Fund, SBI Magnum Medium Duration Fund, SBI Magnum Children's Benefit Fund - Savings Plan (Debt portion) and SBI Magnum Children's Benefit Fund - Investment Plan (Debt portion)

Funds managed (3)

All schemes Lokesh Mallya runs →

MJMohit JainManaging since 01 Dec 2023

Role

Fund Manager Credit Analyst

Education

B.E (Engineering), CFA

Experience

Mr. Mohit Jain joined SBI Funds Management Limited (SBIFML) in May 2015 as Credit Analyst and has over 9 years of experience in the area of financial services. Prior to joining SBIFML, Mr. Jain was working with Crisil Limited as Research Analyst (Jan 2012-Apr 2015). He is currently Fund Manager of SBI Magnum Income Fund and SBI Equity Savings Fund. He is also Co-fund manager of

Funds managed (2)

All schemes Mohit Jain runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Lokesh Mallya Mohit Jain

SBI in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Medium Duration funds

Medium duration funds run a Macaulay duration of 3 to 4 years. They carry real interest-rate sensitivity, so they suit a horizon of at least three years rather than a place to park cash.

Frequently asked questions

What is the NAV of SBI Medium Term Fund?

As of 05 Oct 2026, the NAV of SBI Medium Term Fund is ₹21.18 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has SBI Medium Term Fund delivered?

SBI Medium Term Fund has returned +5.20% over 1 year, +6.99% per year over 3 years, +6.13% per year over 5 years and +3.53% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of SBI Medium Term Fund?

SBI Medium Term Fund charges an expense ratio of 1.22% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of SBI Medium Term Fund?

SBI Medium Term Fund's largest holdings are 6.94% CGL 2036 (6.9%), 6.68% CGL 2040 (5.6%), Godrej Properties Ltd. (4.6%), JSW Kalinga Steel Ltd. (4.3%) and Yes Bank Ltd. (3.5%). Holdings are disclosed monthly and change over time.

How risky is SBI Medium Term Fund?

SBI Medium Term Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.2% and its worst peak-to-trough fall in our sample was -15.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.39 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Medium Term Fund's 0.39 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of SBI Medium Term Fund?

SBI Medium Term Fund is benchmarked against the NIFTY Medium Duration Debt Index. Its alpha and beta on this page are measured against that index.

Who manages SBI Medium Term Fund?

SBI Medium Term Fund is managed by Lokesh Mallya and Mohit Jain at SBI.

How is SBI Medium Term Fund taxed?

SBI Medium Term Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.