Axis Medium Term Fund vs SBI Medium Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Medium Term Fund and SBI Medium Term Fund are both Medium Duration funds. In the 3 years to 30-10-2026, Axis Medium Term Fund (Direct) returned 8.2% a year and SBI Medium Term Fund (Direct) returned 7.4% a year. Axis Medium Term Fund charges 0.71% a year and SBI Medium Term Fund 0.72% (Direct plans). Their portfolios overlap 16.6%: they hold 14 of the same securities.
Axis Medium Term Fund
Medium Duration
- 3 year return
- 8.2%
- Expense ratio
- 0.71%
- NAV
- ₹33.27
SBI Medium Term Fund
Medium Duration
- 3 year return
- 7.4%
- Expense ratio
- 0.72%
- NAV
- ₹59.40
Which is better, Axis Medium Term or SBI Medium Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Medium Term returned more over 5 years: 7.2% a year against 6.7%.
- Axis Medium Term returned more over 3 years: 8.2% a year against 7.4%.
- Axis Medium Term costs less: 0.71% a year against 0.72% (Direct plans).
- Axis Medium Term swung less over 3 years: a standard deviation of 1.2% a year against 1.2%.
- Axis Medium Term fell less in its worst fall since 29-01-2013: −7.3% against −7.5%.
- SBI Medium Term is the larger fund: ₹6,419 Cr against ₹1,972 Cr.
- Their portfolios overlap 16.6%: 14 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis Medium Term Fund | SBI Medium Term Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | SBI Mutual Fund |
| Category | Medium Duration | Medium Duration |
| AUM | ₹1,972 Cr (30-09-2026) | ₹6,419 Cr (30-09-2026) |
| NAV | ₹33.27 (Direct) | ₹59.40 (Direct) |
| Expense ratio (Direct) | 0.71% | 0.72% |
| Expense ratio (Regular) | 1.32% | 1.22% |
| Riskometer | Moderately High | Moderately High |
| Benchmark | NIFTY Medium Duration Debt Index A-III | NIFTY Medium Duration Debt Index A-III |
| Launch date | 28-03-2012 | 12-11-2003 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Devang Shah, Akhil Thakker, Sachin Jain | Lokesh Mallya, Mohit Jain |
| Exit load | NIL | Exit load of 1%, if redeemed within 3 months. |
Axis Medium Term vs SBI Medium Term: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis Medium Term Fund (Direct) | −0.24% | +0.15% | +2.91% | +5.40% | +8.16% | +7.20% | +7.69% |
| SBI Medium Term Fund (Direct) | −0.46% | +0.08% | +2.92% | +5.21% | +7.44% | +6.65% | +7.94% |
| Medium Duration average | −0.34% | −0.09% | +2.51% | +4.72% | +7.66% | +6.88% | +6.78% |
Category average: the average of the 13 Medium Duration funds, same plan type.
Axis Medium Term vs SBI Medium Term: Year-wise Returns
| Year | AxisAxis Medium Term | SBISBI Medium Term |
|---|---|---|
| 2026to date | +4.31% | +4.15% |
| 2025 | +8.91% | +8.00% |
| 2024 | +9.39% | +8.69% |
| 2023 | +8.04% | +7.81% |
| 2022 | +4.52% | +3.97% |
| 2021 | +5.95% | +4.41% |
Axis Medium Term vs SBI Medium Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,608 of them, one for each trading day from 29-01-2016 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis Medium Term Fund (Direct)
SBI Medium Term Fund (Direct)
to
Dec 2016Oct 2015
to
Oct 2018Aug 2017
to
Aug 2020Jun 2019
to
Jun 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Medium Term | 0.0 | 0.0 | 87.1 | 12.9 | 0.0 | 0.0 | 0.0 | 8.6% | 8.5% | 6.0% | 13.2% |
| SBI Medium Term | 0.0 | 0.0 | 72.0 | 28.0 | 0.0 | 0.0 | 0.0 | 9.0% | 9.3% | 5.3% | 14.1% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 29-01-2013. Past returns do not promise future returns.
Axis Medium Term vs SBI Medium Term: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 08-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Medium TermAxis Medium Term Fund (Direct) | ₹16,60,000 | ₹29,72,864 | ₹13,12,864 | 8.0% |
| SBI Medium TermSBI Medium Term Fund (Direct) | ₹16,60,000 | ₹29,93,011 | ₹13,33,011 | 8.1% |
Axis Medium TermAxis Medium Term Fund (Direct)
SBI Medium TermSBI Medium Term Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis Medium Term vs SBI Medium Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Medium Term Fund (Direct) | SBI Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.40% | +5.21% |
| Standard deviation | 1.40% | 1.48% |
| Sharpe ratio | 0.11 | -0.02 |
| Sortino ratio | 0.15 | -0.03 |
| Maximum drawdown | −0.7% (02-04-2026) | −0.9% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Medium Term Fund (Direct) | SBI Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.16% | +7.44% |
| Standard deviation | 1.18% | 1.22% |
| Sharpe ratio | 1.81 | 1.17 |
| Sortino ratio | 2.72 | 1.72 |
| Maximum drawdown | −0.7% (02-04-2026) | −0.9% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Medium Term Fund (Direct) | SBI Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.20% | +6.65% |
| Standard deviation | 1.25% | 1.36% |
| Sharpe ratio | 1.12 | 0.62 |
| Sortino ratio | 1.58 | 0.84 |
| Maximum drawdown | −1.2% (06-05-2022) | −1.7% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Medium Term Fund (Direct) | SBI Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.44% | +8.67% |
| Standard deviation | 2.44% | 2.48% |
| Sharpe ratio | 0.98 | 1.06 |
| Sortino ratio | 1.36 | 1.54 |
| Maximum drawdown | −7.3% (19-08-2013) | −7.5% (28-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 08-01-2013 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis Medium Term Fund (Direct)
SBI Medium Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Medium Term Fund (Direct) | −7.3% | 27-05-2013 | 19-08-2013 | 20-01-2014 | 5 months | −0.4% |
| SBI Medium Term Fund (Direct) | −7.5% | 17-05-2013 | 28-08-2013 | 15-01-2014 | 5 months | −0.8% |
From daily values since 29-01-2013, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Medium Term Fund (Direct)
SBI Medium Term Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Medium Term Fund (Direct)
SBI Medium Term Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Medium Term Fund (Direct)
SBI Medium Term Fund (Direct)
Axis Medium Term vs SBI Medium Term: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Medium Term Fund, September 2026; SBI Medium Term Fund, September 2026
Holdings in common
- Overlap
- 16.6%
- Held by both
- 14
- Only in Axis Medium Term
- 63
- Only in SBI Medium Term
- 52
| Security | % of Axis Medium Term | % of SBI Medium Term |
|---|---|---|
| 6.94% Government of India (11/05/2036) | 8.85% | 6.90% |
| JSW Kalinga Steel Limited (23/03/2029) (ZCB) | 2.37% | 4.38% |
| 5% GMR Airports Limited (13/08/2028) | 1.79% | 3.01% |
| JTPM Metal Traders Limited (29/09/2028) (ZCB) | 1.37% | 3.36% |
| Siddhivinayak Securitisation Trust (28/09/2030) | 0.92% | 1.86% |
| Shivshakti Securitisation Trust (28/09/2029) | 0.92% | 1.86% |
| Raajmarg Infra Investment Trust | 1.08% | 0.89% |
| 6.94% Power Grid Corporation of India Limited (15/04/2035) | 1.20% | 0.44% |
| 6.9% Government of India (15/04/2065) | 1.96% | 0.35% |
| SBI - Corporate Debt Market Development Fund (CDMDF) - Class A2 | 0.32% | 0.33% |
| 6.48% Government of India (06/10/2035) | 0.15% | 2.16% |
| Capital Infra Trust | 1.03% | 0.08% |
| Embassy Office Parks REIT | 0.06% | 1.15% |
| Cube Highways Trust-InvIT Fund | 0.04% | 1.91% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.6% means 16.6% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis Medium Term Fund
| Security | % of fund |
|---|---|
| Jubilant Beverages Limited (31/05/2028) (ZCB) | 3.69% |
| 8.58% GMR Hyderabad International Airport Limited (28/03/2034) | 3.29% |
| Jubilant Bevco Limited (31/05/2028) (ZCB) | 3.14% |
| 7.18% Tamilnadu State Development Loans (03/12/2033) | 3.14% |
| 8% Adani Power Limited (27/01/2028) | 3.03% |
Largest holdings only in SBI Medium Term Fund
| Security | % of fund |
|---|---|
| Godrej Properties Ltd. | 4.69% |
| 7.06% CGL 2041 | 4.54% |
| Aditya Birla Real Estate Ltd. | 3.43% |
| Renew Solar Energy (Jharkhand Five) Pvt. Ltd. | 3.36% |
| Renserv Global Pvt Ltd. | 3.20% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Medium Term | SBI Medium Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.0% | 87.3% |
| Cash and others | 5.0% | 12.7% |
Axis Medium Term vs SBI Medium Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Medium Term Fund | SBI Medium Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.71% | 0.72% |
| Base expense ratio (Direct) | 0.60% | 0.61% |
| Total expense ratio (Regular) | 1.32% | 1.22% |
| Base expense ratio (Regular) | 1.12% | 1.04% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Axis Medium Term with
Axis Medium Term Fund vs SBI Medium Term Fund: Frequently Asked Questions
What is the difference between Axis Medium Term Fund and SBI Medium Term Fund?
Both are Medium Duration funds, run by Axis Mutual Fund and SBI Mutual Fund. Their portfolios overlap 16.6%. Axis Medium Term Fund charges 0.71% a year and SBI Medium Term Fund 0.72%.
Which has given higher returns, Axis Medium Term Fund or SBI Medium Term Fund?
Over 1 year: Axis Medium Term Fund +5.40%, SBI Medium Term Fund +5.21%. Over 3 years: Axis Medium Term Fund +8.16% a year, SBI Medium Term Fund +7.44% a year. Over 5 years: Axis Medium Term Fund +7.20% a year, SBI Medium Term Fund +6.65% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Medium Term Fund or SBI Medium Term Fund?
Axis Medium Term Fund charges less: 0.71% a year against 0.72%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Medium Term Fund and SBI Medium Term Fund overlap?
16.6%. They hold 14 of the same securities, the largest shared ones being 6.94% Government of India (11/05/2036), JSW Kalinga Steel Limited (23/03/2029) (ZCB), 5% GMR Airports Limited (13/08/2028). From each fund's latest monthly portfolio.
Which is riskier, Axis Medium Term Fund or SBI Medium Term Fund?
On SEBI's riskometer, Axis Medium Term Fund is rated Moderately High and SBI Medium Term Fund Moderately High. Over 3 years, the standard deviation of daily returns was 1.18% and 1.22% a year.
Which is better for SIP, Axis Medium Term Fund or SBI Medium Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,38,914 in Axis Medium Term Fund (XIRR 7.5% a year) and ₹7,29,190 in SBI Medium Term Fund (XIRR 7.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Medium Term Fund and SBI Medium Term Fund?
Yes. 16.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Medium Term Fund and SBI Medium Term Fund?
Axis Medium Term Fund: Devang Shah, Akhil Thakker, Sachin Jain. SBI Medium Term Fund: Lokesh Mallya, Mohit Jain.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.