EquityFlexi Cap FundRegularGrowthVery High

Mirae Asset Flexi Cap Fund

Q: What is the NAV of Mirae Asset Flexi Cap Fund?

As of 01 Oct 2026, the NAV of Mirae Asset Flexi Cap Fund is ₹15.57 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mirae Asset Flexi Cap Fund delivered?

Mirae Asset Flexi Cap Fund has returned -0.46% over 1 year, +9.66% per year over 3 years and +13.13% 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 Flexi Cap Fund?

Mirae Asset Flexi Cap Fund charges an expense ratio of 2.10% 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 Flexi Cap Fund?

Mirae Asset Flexi Cap Fund's largest holdings are ICICI Bank Ltd. (5.7%), HDFC Bank Ltd. (5.2%), Reliance Industries Ltd. (4.0%), State Bank of India (2.6%) and Axis Bank Ltd. (2.4%). Holdings are disclosed monthly and change over time.

Q: How risky is Mirae Asset Flexi Cap Fund?

Mirae Asset Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.1% and its worst peak-to-trough fall in our sample was -16.7%. 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 0.22 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Flexi Cap Fund's 0.22 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Mirae Asset Flexi Cap Fund?

Mirae Asset Flexi Cap Fund is benchmarked against the NIFTY 500 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Mirae Asset Flexi Cap Fund?

Mirae Asset Flexi Cap Fund is managed by Varun Goel at Mirae Asset.

Q: How is Mirae Asset Flexi Cap Fund taxed?

Mirae Asset Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Mirae Asset Mutual Fund · Best Flexi Cap Mutual Funds

NAV

₹15.57

-0.64% 1D

as of 01 Oct 2026

This is the Regular plan of Mirae Asset Flexi Cap 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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Performance

+0.13%CAGR

52-week rangePrev NAV ₹15.67

Latest ₹15.57

Low ₹14.3055th percentile of its 52-week rangeHigh ₹16.62

Scorecard

★★★☆☆3/5 vs 36 of 45 Flexi Cap 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 Flexi Cap Fund (same plan and option). 36 of the 45 Flexi Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +9.66% · ranks 19 of 36 Flexi Cap Funds

RiskModerate

Volatility 14.1% vs 14.1% category avg

CostAverage

2.1% expense vs 2.3% 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

3-year return (+9.66%) trails the Flexi Cap Fund average (+10.44%)
Weaker risk-adjusted returns — Sharpe 0.22 below the Flexi Cap Fund average of 0.27

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.10%

Category 2.30%▼0.20%

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

20.49

Category —

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

0.22

Category 0.27▼0.05

Scheme Info

Definitions

Plan

Regular · Growth

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

None

I.For investors who have optedfor SWP under the plan: a)15% of the units allotted(including Switch-in/STP - in)on or before completion of 365days from the date of allotmentof units: Nil. b)Any redemption in excess ofsuch limits in the first 365 daysfrom the date of allotment shallbe subject to the following exitload: (Redemption of unitswould be done on First In FirstOut Basis (FIFO): -If redeemed within 1 year (365days) from the date of allotment:1% -If redeemed after 1 year (365days) from the date of allotment:NIL II.Other Redemptions: ForInvestors who have not opted forSWP under the plan (includingSwitch out, STP out): -If redeemed within 1 year (365days) from the date of allotment:1% -If redeemed after 1 year (365days) from the date of allotment:NIL

Up to 1.00%

tiered — see the full terms

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 500 TRI

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.

27 Feb 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.35%

Absolute return over the last 3 months (not annualized)

-3.04%

Absolute return over the last 6 months (not annualized)

+7.06%

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

-5.62%

Annualized returns (≥1Y — CAGR)

Definitions

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

-0.46%

3-year annualized return (CAGR)

+9.66%

5-year annualized return (CAGR)

—

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.

+13.13%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.14%

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

0.22

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

0.30

Largest peak-to-trough decline over full history

-16.74%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

0.39%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

0.91

How much of the fund's movement Nifty 500 TRI explains

97.4%

Excess return per unit of beta (market risk)

3.75

Active return over the benchmark per unit of tracking error

0.07

Annualized std dev of fund-minus-benchmark returns

2.75%

Fund's share of benchmark gains in up months (100 = matches index)

94.4%

Fund's share of benchmark losses in down months (lower is better)

90.3%

Computed vs the Nifty 500 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Flexi Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-4.35%	-5.20%	+0.85%
3M abs	-3.04%	-2.50%	-0.54%
6M abs	+7.06%	+9.51%	-2.45%
1Y CAGR	-0.46%	-0.80%	+0.34%
3Y CAGR	+9.66%	+10.44%	-0.78%
5Y CAGR	—	+9.24%	—

Category average across peers in Flexi Cap Fund (up to 45 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 45 peers in Flexi Cap Fund

1Y return

-0.46%

Beats 52.5% · rank #20

3Y return

+9.66%

Beats 48.6% · rank #19

5Y return

—

Sharpe

0.22

Beats 51.4% · rank #18

Sortino

0.30

Beats 51.4% · rank #18

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

₹3.60L

Current value

₹3.79L

Absolute

+5.23%

XIRR

+3.53%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into Mirae Asset Flexi Cap 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	Nifty 500 TRI	Diff
2026part	-5.62%	-7.18%	+1.56%
2025	+8.88%	+7.94%	+0.94%
2024	+17.31%	+16.43%	+0.88%
2023part	+29.19%	—	—

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; those years show no benchmark comparison.

History points

884

Expense ratio

2.10%

AUM

₹4,009Cr

Portfolio turnover

41%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

20.5

P/B ratio

4.5

Avg market cap

₹3,72,057Cr

P/E & P/B are portfolio-weighted harmonic means across 67 of 87 equity holdings (83% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

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 · Flexi Cap Fund

Compare all


Mirae Asset Flexi Cap FundThis fund Mirae Asset · Regular · Growth	★★★☆☆	-0.46%	+9.66%	—	—	2.10%	₹4,009Cr
Bank of India Flexi Cap Fund Bank of India · Regular · Growth	★★★★☆	+7.78%	+16.36%	+14.52%	—	2.28%	₹2,414Cr
Motilal Oswal Flexi Cap Fund Motilal Oswal · Regular · Growth	★★★☆☆	+1.00%	+16.22%	+11.34%	—	2.00%	₹12,836Cr
ITI Flexi Cap Fund ITI · Regular · Growth	★★★★☆	+9.52%	+15.75%	—	—	2.31%	₹1,304Cr
Invesco India Flexi Cap Fund Invesco · Regular · Growth	★★★★★	-2.32%	+14.52%	—	—	2.10%	₹4,904Cr
360 ONE Flexicap Fund 360 One · Regular · Growth	★★★★☆	+6.45%	+14.43%	—	—	2.37%	₹2,018Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 98% of the equity sleeve priced.

Large cap63.0%
Mid cap21.6%
Small cap15.4%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity99.42%
Cash & Equivalents0.58%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Mirae Asset Multi Asset Allocation Fund Mirae Asset · Multi Asset Allocation	54.4% of 67% equity	★★★★☆	0.64%	—
Mirae Asset Balanced Advantage Fund Mirae Asset · Dynamic Asset Allocation or Balanced Advantage	53.7% of 69% equity	★★★★☆	0.98%	+9.60%
Mirae Asset Aggressive Hybrid Fund Mirae Asset · Aggressive Hybrid Fund	52.7% of 76% equity	★★★☆☆	0.63%	+10.24%
Canara Robeco Flexi Cap Fund Canara Robeco · Flexi Cap Fund	50.9%	★★★☆☆	0.69%	+10.26%
Groww ELSS Tax Saver Fund Groww · ELSS	50.6%!	★☆☆☆☆	1.52%	+7.74%
Edelweiss Balanced Advantage Fund Edelweiss · Dynamic Asset Allocation or Balanced Advantage	50.0% of 83% equity	★★★☆☆	0.81%	+9.82%
Canara Robeco ELSS - Tax Saver Fund Canara Robeco · ELSS	49.8%!	★★★☆☆	0.70%	+10.17%
ICICI Prudential Balanced Advantage Fund ICICI Prudential · Dynamic Asset Allocation or Balanced Advantage	49.6% of 70% equity	★★★★★	1.03%	+10.11%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.05% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Welspun Corp LimitedLong-term · Stage I0.05%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

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.

-16.7%26 Sep 2024 → 07 Apr 2025
Fell over 6 months, back to the old high on 17 Sep 2025 — 5 months under water after the low.
-14.0%02 Jan 2026 → 31 Mar 2026
Still below that high — 3 months down, and no recovery yet.
-6.8%11 Sep 2023 → 26 Oct 2023
Fell over 1 months, back to the old high on 30 Nov 2023 — 35 days 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.

Fund size over time

Quarterly average AUM · AMFI

₹4,009Cr

April - June 2026

+12%

since January - March 2026

+₹552.56Cr

est. net flow, last quarter

At or near its largest, ₹4,009Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

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

VGVarun GoelManaging since 03 Apr 2024

Role

Senior Fund Manager- Equity

Education

BTech (Mechanical Engineering), IIT Delhi PGDM (Finance & Marketing), IIM Lucknow

Experience

Mr. Varun Goel has around 18 years of experience in Fund management & Equity Research. Prior to this assignment, Mr. Goel was fund manager for Equity AIF funds at Nippon Life India AIF Management Limited. Additionally, Mr. Goel has also worked with Motilal Oswal Asset Management Company Limited, Karvy Stock Broking, KC Securities and Kotak Securities. Other Scheme manged by Mr. Goel: • Mirae Asset Small Cap Fund

Funds managed (1)

MIRAE ASSET SMALL CAP FUND

All schemes Varun Goel 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

Varun Goel

Top holdings

ICICI Bank Ltd.HDFC Bank Ltd.Reliance Industries Ltd.State Bank of India Axis Bank Ltd.Bharti Airtel Ltd.Larsen & Toubro Ltd.Mahindra & Mahindra Ltd.Lenskart Solutions Ltd.L&T Finance Ltd.Multi Commodity Exchange of India Ltd.Tata Consultancy Services Ltd.

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.

Run SIP calculator Add to compare

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 Flexi Cap funds

Flexi cap funds invest across large, mid and small-cap stocks with no fixed allocation, letting the manager shift with the market cycle. That flexibility can help manage risk and chase growth wherever it is.

Frequently asked questions

What is the NAV of Mirae Asset Flexi Cap Fund?

As of 01 Oct 2026, the NAV of Mirae Asset Flexi Cap Fund is ₹15.57 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mirae Asset Flexi Cap Fund delivered?

Mirae Asset Flexi Cap Fund has returned -0.46% over 1 year, +9.66% per year over 3 years and +13.13% 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 Flexi Cap Fund?

Mirae Asset Flexi Cap Fund charges an expense ratio of 2.10% 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 Flexi Cap Fund?

Mirae Asset Flexi Cap Fund's largest holdings are ICICI Bank Ltd. (5.7%), HDFC Bank Ltd. (5.2%), Reliance Industries Ltd. (4.0%), State Bank of India (2.6%) and Axis Bank Ltd. (2.4%). Holdings are disclosed monthly and change over time.

How risky is Mirae Asset Flexi Cap Fund?

Mirae Asset Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.1% and its worst peak-to-trough fall in our sample was -16.7%. 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 0.22 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Flexi Cap Fund's 0.22 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Mirae Asset Flexi Cap Fund?

Mirae Asset Flexi Cap Fund is benchmarked against the NIFTY 500 TRI. Its alpha and beta on this page are measured against that index.

Who manages Mirae Asset Flexi Cap Fund?

Mirae Asset Flexi Cap Fund is managed by Varun Goel at Mirae Asset.

How is Mirae Asset Flexi Cap Fund taxed?

Mirae Asset Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.