DSP Value Fund vs JM Value Fund
Direct Plan, Growth option · Data as on 29-10-2026
DSP Value Fund and JM Value Fund are both Value and Contra funds. In the 3 years to 30-10-2026, DSP Value Fund (Direct) returned 16.3% a year and JM Value Fund (Direct) returned 9.8% a year. DSP Value Fund charges 1.53% a year and JM Value Fund 1.59% (Direct plans). Their portfolios overlap 17.1%: they hold 12 of the same securities.
Which is better, DSP Value or JM Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JM Value returned more over 5 years: 12.3% a year against 12.3%.
- DSP Value returned more over 3 years: 16.3% a year against 9.8%.
- DSP Value costs less: 1.53% a year against 1.59% (Direct plans).
- DSP Value swung less over 3 years: a standard deviation of 10.4% a year against 17.2%.
- DSP Value fell less in its worst fall since 11-12-2020: −16.4% against −26.1%.
- DSP Value holds 12.8% of the fund in foreign stocks; JM Value 0.0%.
- DSP Value holds more in large companies: 62.0% of the fund in large caps against 32.3%.
- DSP Value is the larger fund: ₹2,225 Cr against ₹780 Cr.
- Their portfolios overlap 17.1%: 12 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 Value Fund | JM Value Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | JM Financial Mutual Fund |
| Category | Value and Contra | Value and Contra |
| AUM | ₹2,225 Cr (30-09-2026) | ₹780 Cr (30-09-2026) |
| NAV | ₹23.73 (Direct) | ₹100.86 (Direct) |
| Expense ratio (Direct) | 1.53% | 1.59% |
| Expense ratio (Regular) | 2.40% | 2.75% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE 500 TRI |
| Launch date | 10-12-2020 | 02-06-1997 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Abhishek Singh, Kaivalya Nadkarni | Satish Ramanathan, Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. | Exit load of 1%, if redeemed within 30 days. |
DSP Value vs JM Value: 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 Value Fund (Direct) | −0.43% | −4.38% | −1.65% | +0.33% | +16.31% | +12.31% | -- |
| JM Value Fund (Direct) | −6.48% | −5.75% | −2.96% | −9.64% | +9.77% | +12.34% | +14.15% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
Category average: the average of the 30 Value and Contra funds, same plan type.
DSP Value vs JM Value: Year-wise Returns
| Year | DSPDSP Value | JMJM Value |
|---|---|---|
| 2026to date | −0.94% | −7.28% |
| 2025 | +12.40% | −3.20% |
| 2024 | +21.81% | +26.72% |
| 2023 | +30.91% | +48.68% |
| 2022 | −1.80% | +6.05% |
| 2021 | +31.97% | +37.17% |
DSP Value vs JM Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of DSP Value Fund
Rolling returns
Every 3-year holding period, 639 of them, one for each trading day from 11-12-2023 to 29-10-2026: 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 Value Fund (Direct)
JM Value Fund (Direct)
Nifty 500 TRI
to
Mar 2024Aug 2021
to
Aug 2024Feb 2022
to
Feb 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Value | 0.0 | 0.0 | 0.0 | 1.3 | 70.0 | 28.8 | 0.0 | 18.7% | 18.6% | 13.2% | 23.8% | 78% |
| JM Value | 0.0 | 0.0 | 0.4 | 9.1 | 13.4 | 26.2 | 50.9 | 24.2% | 25.1% | 9.2% | 33.6% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.0 | 26.4 | 58.7 | 11.9 | 0.0 | 16.4% | 16.5% | 8.8% | 22.3% | -- |
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. The benchmark is Nifty 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 11-12-2020. Past returns do not promise future returns.
DSP Value vs JM Value: 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 11-12-2020 to 29-10-2026: 71 instalments, ₹7,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP ValueDSP Value Fund (Direct) | ₹7,10,000 | ₹10,50,424 | ₹3,40,424 | 13.2% |
| JM ValueJM Value Fund (Direct) | ₹7,10,000 | ₹9,98,818 | ₹2,88,818 | 11.4% |
DSP ValueDSP Value Fund (Direct)
JM ValueJM Value 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 Value vs JM Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Value Fund (Direct) | JM Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.33% | −9.64% |
| Standard deviation | 10.12% | 17.60% |
| Sharpe ratio | -0.48 | -0.85 |
| Sortino ratio | -0.66 | -1.12 |
| Maximum drawdown | −8.3% (23-03-2026) | −18.5% (31-03-2026) |
| Beta | 0.66 | 1.15 |
| Alpha | +3.56% | +0.02% |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 Value Fund (Direct) | JM Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.31% | +9.77% |
| Standard deviation | 10.42% | 17.15% |
| Sharpe ratio | 0.99 | 0.22 |
| Sortino ratio | 1.36 | 0.29 |
| Maximum drawdown | −13.7% (07-04-2025) | −26.1% (31-03-2026) |
| Beta | 0.68 | 1.13 |
| Alpha | +7.28% | −0.61% |
From daily NAVs, 27-10-2023 to 29-10-2026. 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 Value Fund (Direct) | JM Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.31% | +12.34% |
| Standard deviation | 10.48% | 16.35% |
| Sharpe ratio | 0.62 | 0.40 |
| Sortino ratio | 0.85 | 0.53 |
| Maximum drawdown | −16.4% (20-06-2022) | −26.1% (31-03-2026) |
| Beta | 0.66 | 1.07 |
| Alpha | +4.49% | +3.49% |
From daily NAVs, 29-10-2021 to 29-10-2026. 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 Value Fund (Direct) | JM Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.82% | +14.98% |
| Standard deviation | 10.33% | 18.46% |
| Sharpe ratio | 1.01 | 0.48 |
| Sortino ratio | 1.40 | 0.66 |
| Maximum drawdown | −16.4% (20-06-2022) | −37.9% (23-03-2020) |
| Beta | 0.63 | 1.11 |
| Alpha | +5.42% | +1.44% |
From daily NAVs, 11-12-2020 to 29-10-2026. 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 Value Fund (Direct)
JM Value Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Value Fund (Direct) | −16.4% | 17-01-2022 | 20-06-2022 | 02-12-2022 | 5 months | −6.0% |
| JM Value Fund (Direct) | −26.1% | 05-09-2024 | 31-03-2026 | Not yet | -- | −18.1% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 11-12-2020, 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 Value Fund (Direct)
JM Value Fund (Direct)
Nifty 500 TRI
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 Value Fund (Direct)
JM Value Fund (Direct)
Nifty 500 TRI
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 Value Fund (Direct)
JM Value Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Value Fund (Direct) | 84% | 56% | 7.41% |
| JM Value Fund (Direct) | 114% | 99% | 7.49% |
From month-end values since 11-12-2020. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
DSP Value vs JM Value: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Value Fund, September 2026; JM Value Fund, September 2026
Holdings in common
- Overlap
- 17.1%
- Held by both
- 12
- Only in DSP Value
- 35
- Only in JM Value
- 62
| Security | % of DSP Value | % of JM Value |
|---|---|---|
| ICICI Bank Limited | 8.22% | 3.78% |
| Bharti Airtel Limited | 2.47% | 2.70% |
| HDFC Bank Limited | 9.45% | 1.82% |
| Infosys Limited | 1.61% | 2.43% |
| Cipla Limited | 2.29% | 1.47% |
| Larsen & Toubro Limited | 1.34% | 3.38% |
| Axis Bank Limited | 2.48% | 1.26% |
| Power Grid Corporation of India Limited | 1.55% | 0.90% |
| Life Insurance Corporation Of India | 0.73% | 1.88% |
| NTPC Limited | 2.65% | 0.62% |
| Tata Motors Limited | 0.58% | 2.55% |
| Hindustan Petroleum Corporation Limited | 0.59% | 0.54% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.1% means 17.1% 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 Value Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Limited | 3.29% |
| Maruti Suzuki India Limited | 2.59% |
| HDFC Asset Management Co Limited | 2.57% |
| ITC Limited | 2.56% |
| Alkem Laboratories Limited | 2.43% |
Largest holdings only in JM Value Fund
| Security | % of fund |
|---|---|
| Redington Limited | 4.70% |
| Shriram Finance Limited | 3.40% |
| Jana Small Finance Bank Ltd | 2.55% |
| Tech Mahindra Limited | 2.52% |
| JK TYRE & INDUSTRIES LTD | 2.26% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Value | JM Value |
|---|---|---|
| Equity | 89.3% | 98.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 10.7% | 1.2% |
Market cap of stocks
| Market cap | DSP Value | JM Value |
|---|---|---|
| Large Cap | 62.0% | 32.3% |
| Mid Cap | 10.7% | 7.0% |
| Small Cap | 3.8% | 55.7% |
| Foreign stocks | 12.8% | 0.0% |
| Not on AMFI's list | 0.0% | 3.8% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | DSP Value | JM Value |
|---|---|---|
| Banks | 24.3% | 11.3% |
| Finance | 1.1% | 10.8% |
| Automobiles | 8.8% | 1.4% |
| Auto Components | 0.8% | 7.9% |
| Insurance | 6.9% | 1.9% |
| Pharmaceuticals & Biotechnology | 6.7% | 2.9% |
| Construction | 1.3% | 5.6% |
| Electrical Equipment | 0.7% | 5.2% |
| IT - Software | 3.3% | 4.9% |
| Telecom - Services | 4.4% | 2.7% |
| Power | 4.2% | 1.5% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Value vs JM Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Value Fund | JM Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.53% | 1.59% |
| Base expense ratio (Direct) | 0.98% | 1.04% |
| Total expense ratio (Regular) | 2.40% | 2.75% |
| Base expense ratio (Regular) | 1.72% | 2.04% |
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
DSP Value Fund vs JM Value Fund: Frequently Asked Questions
What is the difference between DSP Value Fund and JM Value Fund?
Both are Value and Contra funds, run by DSP Mutual Fund and JM Financial Mutual Fund. Their portfolios overlap 17.1%. DSP Value Fund charges 1.53% a year and JM Value Fund 1.59%.
Which has given higher returns, DSP Value Fund or JM Value Fund?
Over 1 year: DSP Value Fund +0.33%, JM Value Fund −9.64%. Over 3 years: DSP Value Fund +16.31% a year, JM Value Fund +9.77% a year. Over 5 years: DSP Value Fund +12.31% a year, JM Value Fund +12.34% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Value Fund or JM Value Fund?
DSP Value Fund charges less: 1.53% a year against 1.59%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Value Fund and JM Value Fund overlap?
17.1%. They hold 12 of the same securities, the largest shared ones being ICICIBANK, BHARTIARTL, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, DSP Value Fund or JM Value Fund?
On SEBI's riskometer, DSP Value Fund is rated Very High and JM Value Fund Very High. Over 3 years, the standard deviation of daily returns was 10.42% and 17.15% a year.
Which is better for SIP, DSP Value Fund or JM Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 29-10-2026 grew to ₹8,42,999 in DSP Value Fund (XIRR 12.7% a year) and ₹7,78,992 in JM Value Fund (XIRR 9.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Value Fund and JM Value Fund?
Yes. 17.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Value Fund and JM Value Fund?
DSP Value Fund: Abhishek Singh, Kaivalya Nadkarni. JM Value Fund: Satish Ramanathan, Asit Bhandarkar, Deepak Gupta, Ruchi Fozdar.
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.