DSP Dynamic Term Fund vs DSP Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Dynamic Term Fund is a Dynamic Bond fund and DSP Short Term Fund is a Short Duration fund. In the 3 years to 30-10-2026, DSP Dynamic Term Fund (Direct) returned 6.0% a year and DSP Short Term Fund (Direct) returned 7.0% a year. DSP Dynamic Term Fund charges 0.54% a year and DSP Short Term Fund 0.37% (Direct plans). Their portfolios overlap 18.1%: they hold 4 of the same securities.
DSP Dynamic Term Fund
Dynamic Bond
- 3 year return
- 6.0%
- Expense ratio
- 0.54%
- NAV
- ₹3,646.31
DSP Short Term Fund
Short Duration
- 3 year return
- 7.0%
- Expense ratio
- 0.37%
- NAV
- ₹53.88
Which is better, DSP Dynamic Term or DSP Short Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Short Term returned more over 5 years: 6.2% a year against 5.5%.
- DSP Short Term returned more over 3 years: 7.0% a year against 6.0%.
- DSP Short Term costs less: 0.37% a year against 0.54% (Direct plans).
- DSP Short Term swung less over 3 years: a standard deviation of 1.0% a year against 2.9%.
- DSP Short Term fell less in its worst fall since 02-01-2013: −2.8% against −4.5%.
- DSP Short Term is the larger fund: ₹3,416 Cr against ₹607 Cr.
- Their portfolios overlap 18.1%: 4 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 | DSP Dynamic Term Fund | DSP Short Term Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | Dynamic Bond | Short Duration |
| AUM | ₹607 Cr (30-09-2026) | ₹3,416 Cr (30-09-2026) |
| NAV | ₹3,646.31 (Direct) | ₹53.88 (Direct) |
| Expense ratio (Direct) | 0.54% | 0.37% |
| Expense ratio (Regular) | 1.16% | 0.96% |
| Riskometer | Moderate | Moderate |
| Benchmark | CRISIL Dynamic Bond A-III Index | CRISIL Short Duration Debt A-II Index |
| Launch date | 09-05-2007 | 09-09-2002 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Shantanu Godambe, Sandeep Yadav, Kunal Khudania | Karan Mundhra, Shantanu Godambe |
| Exit load | Nil | Nil |
DSP Dynamic Term vs DSP Short 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 |
|---|---|---|---|---|---|---|---|
| DSP Dynamic Term Fund (Direct) | −0.58% | −1.75% | +1.23% | +1.26% | +6.03% | +5.49% | +6.43% |
| DSP Short Term Fund (Direct) | −0.18% | +0.06% | +2.41% | +4.10% | +7.00% | +6.19% | +6.82% |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | +5.98% | +6.68% |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
Category average: the average of the 22 Dynamic Bond funds and the 25 Short Duration funds, same plan type.
DSP Dynamic Term vs DSP Short Term: Year-wise Returns
| Year | DynamicDSP Dynamic Term | ShortDSP Short Term |
|---|---|---|
| 2026to date | +0.72% | +3.34% |
| 2025 | +4.86% | +7.88% |
| 2024 | +10.66% | +8.29% |
| 2023 | +8.62% | +7.31% |
| 2022 | +2.25% | +3.64% |
| 2021 | +3.02% | +3.47% |
DSP Dynamic Term vs DSP Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,627 of them, one for each trading day from 04-01-2016 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.
DSP Dynamic Term Fund (Direct)
DSP Short Term Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Dynamic Term | 0.0 | 5.7 | 77.0 | 17.3 | 0.0 | 0.0 | 0.0 | 7.9% | 7.6% | 4.2% | 13.2% |
| DSP Short Term | 0.0 | 4.4 | 90.6 | 5.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.7% | 4.6% | 10.6% |
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 02-01-2013. Past returns do not promise future returns.
DSP Dynamic Term vs DSP Short 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Dynamic TermDSP Dynamic Term Fund (Direct) | ₹16,60,000 | ₹27,08,261 | ₹10,48,261 | 6.8% |
| DSP Short TermDSP Short Term Fund (Direct) | ₹16,60,000 | ₹27,57,815 | ₹10,97,815 | 7.0% |
DSP Dynamic TermDSP Dynamic Term Fund (Direct)
DSP Short TermDSP Short 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.
DSP Dynamic Term vs DSP Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Dynamic Term Fund (Direct) | DSP Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.26% | +4.10% |
| Standard deviation | 3.19% | 1.30% |
| Sharpe ratio | -1.25 | -0.88 |
| Sortino ratio | -1.65 | -1.23 |
| Maximum drawdown | −2.9% (02-04-2026) | −0.7% (02-04-2026) |
| 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 | DSP Dynamic Term Fund (Direct) | DSP Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.03% | +7.00% |
| Standard deviation | 2.92% | 1.00% |
| Sharpe ratio | 0.00 | 0.98 |
| Sortino ratio | 0.00 | 1.46 |
| Maximum drawdown | −3.1% (02-04-2026) | −0.7% (02-04-2026) |
| 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 | DSP Dynamic Term Fund (Direct) | DSP Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.49% | +6.19% |
| Standard deviation | 2.45% | 0.95% |
| Sharpe ratio | -0.13 | 0.41 |
| Sortino ratio | -0.17 | 0.58 |
| Maximum drawdown | −3.1% (02-04-2026) | −0.9% (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 | DSP Dynamic Term Fund (Direct) | DSP Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.52% | +7.60% |
| Standard deviation | 3.37% | 1.33% |
| Sharpe ratio | 0.44 | 1.17 |
| Sortino ratio | 0.60 | 1.70 |
| Maximum drawdown | −4.5% (10-06-2019) | −2.8% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
DSP Dynamic Term Fund (Direct)
DSP Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Dynamic Term Fund (Direct) | −4.5% | 03-06-2019 | 10-06-2019 | 04-07-2019 | 24 days | −2.5% |
| DSP Short Term Fund (Direct) | −2.8% | 06-03-2020 | 23-03-2020 | 17-04-2020 | 25 days | −0.4% |
From daily values since 02-01-2013, 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.
DSP Dynamic Term Fund (Direct)
DSP Short 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.
DSP Dynamic Term Fund (Direct)
DSP Short 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.
DSP Dynamic Term Fund (Direct)
DSP Short Term Fund (Direct)
DSP Dynamic Term vs DSP Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Dynamic Term Fund, September 2026; DSP Short Term Fund, September 2026
Holdings in common
- Overlap
- 18.1%
- Held by both
- 4
- Only in DSP Dynamic Term
- 11
- Only in DSP Short Term
- 59
| Security | % of DSP Dynamic Term | % of DSP Short Term |
|---|---|---|
| 6.94% GOI 11052036 | 15.82% | 13.31% |
| Small Industries Development Bank Of India | 4.12% | 2.93% |
| 7.02% GOI 18062031 | 3.38% | 1.50% |
| SBI Funds Management Pvt Limited/Fund Parent | 0.90% | 0.33% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.1% means 18.1% 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 DSP Dynamic Term Fund
| Security | % of fund |
|---|---|
| 6.90% GOI 15042065 | 8.42% |
| 7.43% Maharashtra SDL 03122040 | 8.12% |
| State Bank Of India | 8.00% |
| Power Finance Corporation Limited | 7.92% |
| 7.17% GOI 17042030 | 6.87% |
Largest holdings only in DSP Short Term Fund
| Security | % of fund |
|---|---|
| 6.87% GOI FRB 22092033 | 4.59% |
| Bharti Telecom Limited | 4.04% |
| India Universal Trust | 3.81% |
| Knowledge Realty Trust | 2.90% |
| Canara Bank | 2.88% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Dynamic Term | DSP Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 82.5% | 99.3% |
| Cash and others | 17.5% | 0.7% |
DSP Dynamic Term vs DSP Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Dynamic Term Fund | DSP Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.54% | 0.37% |
| Base expense ratio (Direct) | 0.45% | 0.30% |
| Total expense ratio (Regular) | 1.16% | 0.96% |
| Base expense ratio (Regular) | 0.98% | 0.80% |
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 DSP Dynamic Term with
DSP Dynamic Term Fund vs DSP Short Term Fund: Frequently Asked Questions
What is the difference between DSP Dynamic Term Fund and DSP Short Term Fund?
DSP Dynamic Term Fund is a Dynamic Bond fund, DSP Short Term Fund is a Short Duration fund, run by DSP Mutual Fund. Their portfolios overlap 18.1%. DSP Dynamic Term Fund charges 0.54% a year and DSP Short Term Fund 0.37%.
Which has given higher returns, DSP Dynamic Term Fund or DSP Short Term Fund?
Over 1 year: DSP Dynamic Term Fund +1.26%, DSP Short Term Fund +4.10%. Over 3 years: DSP Dynamic Term Fund +6.03% a year, DSP Short Term Fund +7.00% a year. Over 5 years: DSP Dynamic Term Fund +5.49% a year, DSP Short Term Fund +6.19% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Dynamic Term Fund or DSP Short Term Fund?
DSP Short Term Fund charges less: 0.37% a year against 0.54%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Dynamic Term Fund and DSP Short Term Fund overlap?
18.1%. They hold 4 of the same securities, the largest shared ones being 6.94% GOI 11052036, Small Industries Development Bank Of India, 7.02% GOI 18062031. From each fund's latest monthly portfolio.
Which is riskier, DSP Dynamic Term Fund or DSP Short Term Fund?
On SEBI's riskometer, DSP Dynamic Term Fund is rated Moderate and DSP Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 2.92% and 1.00% a year.
Which is better for SIP, DSP Dynamic Term Fund or DSP Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,96,196 in DSP Dynamic Term Fund (XIRR 5.2% a year) and ₹7,19,654 in DSP Short Term Fund (XIRR 6.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Dynamic Term Fund and DSP Short Term Fund?
Yes. 18.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Dynamic Term Fund and DSP Short Term Fund?
DSP Dynamic Term Fund: Shantanu Godambe, Sandeep Yadav, Kunal Khudania. DSP Short Term Fund: Karan Mundhra, Shantanu Godambe.
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.