DebtShort Duration FundRegularGrowthLow to Moderate

Mirae Asset Short Term Fund

Q: What is the NAV of Mirae Asset Short Term Fund?

As of 01 Oct 2026, the NAV of Mirae Asset Short Term Fund is ₹16.61 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mirae Asset Short Term Fund delivered?

Mirae Asset Short Term Fund has returned +3.90% over 1 year, +6.36% per year over 3 years, +5.50% per year over 5 years and +6.09% 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 Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund charges an expense ratio of 1.05% 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 Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund's largest holdings are 6.94% Government of India (MD 11/05/2036) (8.7%), 7.45% Export-Import Bank of India (MD 12/04/2028) (7.7%), 7.44% National Bank for Agriculture and Rural Development (MD 17/07/2029) (7.7%), 8.00% Bajaj Finance Ltd. (MD 12/05/2031) (5.8%) and 7.53% Bajaj Housing Finance Ltd. (MD 28/09/2029) (4.8%). Holdings are disclosed monthly and change over time.

Q: How risky is Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -2.2%. 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 -0.14 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Short Term Fund's -0.14 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund is benchmarked against the CRISIL Short Duration Debt A-II Index. Its alpha and beta on this page are measured against that index.

Q: Who manages Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund is managed by Basant Bafna at Mirae Asset.

Q: How is Mirae Asset Short Term Fund taxed?

Mirae Asset Short 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.

Mirae Asset Mutual Fund · Best Short Duration Mutual Funds

NAV

₹16.61

-0.04% 1D

as of 01 Oct 2026

This is the Regular plan of Mirae Asset Short Term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+4.00%CAGR

52-week rangePrev NAV ₹16.61

Latest ₹16.61

Low ₹15.9890th percentile of its 52-week rangeHigh ₹16.67

Scorecard

★☆☆☆☆1/5 vs 21 of 22 Short Duration Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Short Duration Fund (same plan and option). 21 of the 22 Short Duration Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceBelow avg

3Y CAGR +6.36% · ranks 19 of 21 Short Duration Funds

RiskModerate

Volatility 1.0% vs 1.0% category avg

CostAverage

1.1% expense vs 1.0% category avg

ConsistencyHigh

100% 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 100% of rolling 3-year windows

Concerns

1-year return (+3.90%) trails the Short Duration Fund average (+4.58%)
Ranks #21 of 21 on 1-year return in its Short Duration Fund cohort
Weaker risk-adjusted returns — Sharpe -0.14 below the Short Duration Fund average of 0.21

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.05%

Category 0.97%▲0.08%

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

—

Category —

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

-0.14

Category 0.21▼0.35

Scheme Info

Definitions

Plan

Regular · Growth

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

None

Exit Load

None

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

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

CRISIL Short Duration Debt A-II 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.

19 Mar 2018

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.04%

Absolute return over the last 3 months (not annualized)

+0.26%

Absolute return over the last 6 months (not annualized)

+2.49%

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

+2.70%

Annualized returns (≥1Y — CAGR)

Definitions

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

+3.90%

3-year annualized return (CAGR)

+6.36%

5-year annualized return (CAGR)

+5.50%

10-year annualized return (CAGR)

—

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.

+6.09%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.01%

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

-0.14

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

-0.19

Largest peak-to-trough decline over full history

-2.23%

Benchmark ratios

Not shown for Short 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 (Short Duration Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.04%	+0.12%	-0.16%
3M abs	+0.26%	+0.51%	-0.25%
6M abs	+2.49%	+2.86%	-0.37%
1Y CAGR	+3.90%	+4.58%	-0.68%
3Y CAGR	+6.36%	+6.71%	-0.35%
5Y CAGR	+5.50%	+5.99%	-0.49%

Category average across peers in Short Duration Fund (up to 22 funds with data), 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.

Category rank

Vs 22 peers in Short Duration Fund

1Y return

+3.90%

Beats 0% · rank #21

3Y return

+6.36%

Beats 10% · rank #19

5Y return

+5.50%

Beats 27.8% · rank #14

Sharpe

-0.14

Beats 10% · rank #19

Sortino

-0.19

Beats 10% · rank #19

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

₹6.94L

Absolute

+15.65%

XIRR

+5.94%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Mirae Asset Short 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	+2.70%
2025	+7.37%
2024	+7.57%
2023	+6.32%
2022	+3.07%
2021	+3.11%
2020	+8.56%
2019	+9.38%
2018part	+4.03%

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.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Fund manager change — Amit Modani stepped away
25 Sep 2026

History points

2,068

Expense ratio

1.05%

YTM

7.55%

Modified duration

2.39 years

Macaulay duration

2.53 years

Average maturity

3.01 years

Exit load

Nil

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 · Short Duration Fund

Compare all


Mirae Asset Short Term FundThis fund Mirae Asset · Regular · Growth	★☆☆☆☆	+3.90%	+6.36%	+5.50%	—	1.05%	—
Axis Short Term Fund Axis · Regular · Growth	★★★★★	+5.05%	+7.13%	+6.14%	—	0.93%	—
Axis Short Term Fund Axis · Regular · Growth	—	+5.05%	+7.12%	+6.13%	—	0.93%	—
HDFC Short Term Fund HDFC · Regular · Growth	★★★★★	+4.92%	+7.07%	+6.16%	—	0.72%	—
ICICI Prudential Short Term Fund ICICI Prudential · Regular · Growth	★★★★★	+5.21%	+7.05%	+6.41%	—	1.05%	₹20,833Cr
Nippon India Short Term Fund Nippon India · Regular · Growth	★★★★☆	+4.73%	+6.99%	+5.97%	—	0.94%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt96.05%
Cash & Equivalents3.38%
Other0.57%

AMC Profile

Mirae Asset Mutual Fund is the Indian arm of Mirae Asset, the South Korean manager, and has operated here since 2008. Its growth came largely from a small number of large equity schemes rather than a wide line-up.

Launched

29 Nov 2007

Total AUM

₹2,37,421Cr+5.5% QoQ

Avg AUM · July - September 2026

Website

miraeassetmf.co.in

Fund Managers

BBBasant BafnaStart date not disclosed

Role

Senior Fund Manager

Education

CFA, FRM, MBA (Finance), B Com (Hons), Certified Treasury Professional, Certified Associate of the Indian Institute of Bankers, Clearedall three levels of Company Secretary

Experience

Mr. Basant Bafna has over 14 years of experience in the banking industry. Prior to this assignment, Mr. Basant Bafna worked as Chief Dealer and Assistant General Manager with Export-Import Bank of India. The

Funds managed (2)

All schemes Basant Bafna 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.

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Fund managers

Basant Bafna

Mirae Asset 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 Short Duration funds

Short duration funds run a Macaulay duration of 1 to 3 years. Long enough to earn more than a liquid or ultra short fund, short enough that a rate move does not swing the NAV the way it does in a long duration fund.

Frequently asked questions

What is the NAV of Mirae Asset Short Term Fund?

As of 01 Oct 2026, the NAV of Mirae Asset Short Term Fund is ₹16.61 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mirae Asset Short Term Fund delivered?

Mirae Asset Short Term Fund has returned +3.90% over 1 year, +6.36% per year over 3 years, +5.50% per year over 5 years and +6.09% 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 Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund charges an expense ratio of 1.05% 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 Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund's largest holdings are 6.94% Government of India (MD 11/05/2036) (8.7%), 7.45% Export-Import Bank of India (MD 12/04/2028) (7.7%), 7.44% National Bank for Agriculture and Rural Development (MD 17/07/2029) (7.7%), 8.00% Bajaj Finance Ltd. (MD 12/05/2031) (5.8%) and 7.53% Bajaj Housing Finance Ltd. (MD 28/09/2029) (4.8%). Holdings are disclosed monthly and change over time.

How risky is Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -2.2%. 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 -0.14 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Short Term Fund's -0.14 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund is benchmarked against the CRISIL Short Duration Debt A-II Index. Its alpha and beta on this page are measured against that index.

Who manages Mirae Asset Short Term Fund?

Mirae Asset Short Term Fund is managed by Basant Bafna at Mirae Asset.

How is Mirae Asset Short Term Fund taxed?

Mirae Asset Short 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.