JM Aggressive Hybrid Fund vs Mahindra Manulife Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Aggressive Hybrid Fund is an Aggressive Hybrid fund and Mahindra Manulife Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, JM Aggressive Hybrid Fund (Direct) returned 11.8% a year and Mahindra Manulife Flexi Cap Fund (Direct) returned 9.3% a year. JM Aggressive Hybrid Fund charges 1.16% a year and Mahindra Manulife Flexi Cap Fund 1.00% (Direct plans). Their portfolios overlap 33.7%: they hold 23 of the same securities.
JM Aggressive Hybrid Fund
Aggressive Hybrid
- 3 year return
- 11.8%
- Expense ratio
- 1.16%
- NAV
- ₹134.15
Mahindra Manulife Flexi Cap Fund
Flexi Cap
- 3 year return
- 9.3%
- Expense ratio
- 1.00%
- NAV
- ₹16.37
Which is better, JM Aggressive Hybrid or Mahindra Manulife Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JM Aggressive Hybrid returned more over 5 years: 12.1% a year against 9.8%.
- JM Aggressive Hybrid returned more over 3 years: 11.8% a year against 9.3%.
- Mahindra Manulife Flexi Cap costs less: 1.00% a year against 1.16% (Direct plans).
- JM Aggressive Hybrid swung less over 3 years: a standard deviation of 12.5% a year against 13.5%.
- JM Aggressive Hybrid fell less in its worst fall since 25-08-2021: −17.0% against −17.2%.
- Mahindra Manulife Flexi Cap is the larger fund: ₹1,510 Cr against ₹654 Cr.
- Their portfolios overlap 33.7%: 23 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 | JM Aggressive Hybrid Fund | Mahindra Manulife Flexi Cap Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Aggressive Hybrid | Flexi Cap |
| AUM | ₹654 Cr (30-09-2026) | ₹1,510 Cr (30-09-2026) |
| NAV | ₹134.15 (Direct) | ₹16.37 (Direct) |
| Expense ratio (Direct) | 1.16% | 1.00% |
| Expense ratio (Regular) | 2.69% | 2.49% |
| Riskometer | Very High | Very High |
| Benchmark | CRISIL Hybrid 35+65 - Aggressive Index | Nifty 500 TRI |
| Launch date | 01-04-1995 | 23-08-2021 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar | $ Mr. Neelesh Dhamnaskar, Kirti Dalvi |
| Exit load | 1.00% of NAV on all investment (including SIP/ STP/ SWP) transactions, if redeemed / switched-out within 60 days of transfer/ allotment of units in normal transactions/ allotment of units of respective installments in SIP/ STP/ SWP transactions | Exit load 1% if redeemed within 3 months. |
JM Aggressive Hybrid vs Mahindra Manulife Flexi Cap: 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 |
|---|---|---|---|---|---|---|---|
| JM Aggressive Hybrid Fund (Direct) | −1.58% | −3.18% | +1.49% | −5.13% | +11.76% | +12.14% | +12.55% |
| Mahindra Manulife Flexi Cap Fund (Direct) | −2.66% | −5.60% | −3.28% | −8.56% | +9.29% | +9.80% | -- |
| Aggressive Hybrid average | −0.88% | −3.67% | −0.27% | −3.33% | +10.77% | +9.35% | +11.60% |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
Category average: the average of the 29 Aggressive Hybrid funds and the 46 Flexi Cap funds, same plan type.
JM Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Year-wise Returns
| Year | JM Aggressive HybridJM Aggressive Hybrid | Mahindra Manulife Flexi CapMahindra Manulife Flexi Cap |
|---|---|---|
| 2026to date | −2.73% | −8.94% |
| 2025 | −1.55% | +8.59% |
| 2024 | +29.28% | +16.60% |
| 2023 | +35.47% | +33.23% |
| 2022 | +9.13% | +3.48% |
| 2021 | +23.91% | -- |
JM Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Mahindra Manulife Flexi Cap Fund
Rolling returns
Every 3-year holding period, 538 of them, one for each trading day from 26-08-2024 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.
JM Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Oct 2024Mar 2022
to
Mar 2025Jul 2022
to
Jul 2025Dec 2022
to
Dec 2025Apr 2023
to
Apr 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Aggressive Hybrid | 0.0 | 0.0 | 0.0 | 10.4 | 31.0 | 48.3 | 10.2 | 20.3% | 21.0% | 10.7% | 27.6% | 100% |
| Mahindra Manulife Flexi Cap | 0.0 | 0.0 | 5.0 | 20.4 | 59.0 | 15.6 | 0.0 | 16.9% | 17.6% | 8.1% | 24.6% | 79% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.5 | 35.1 | 55.9 | 5.4 | 0.0 | 15.5% | 15.6% | 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 25-08-2021. Past returns do not promise future returns.
JM Aggressive Hybrid vs Mahindra Manulife Flexi Cap: 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 02-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Aggressive HybridJM Aggressive Hybrid Fund (Direct) | ₹6,30,000 | ₹8,36,950 | ₹2,06,950 | 10.8% |
| Mahindra Manulife Flexi CapMahindra Manulife Flexi Cap Fund (Direct) | ₹6,30,000 | ₹7,77,422 | ₹1,47,422 | 8.0% |
JM Aggressive HybridJM Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi CapMahindra Manulife Flexi Cap 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.
JM Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.13% | −8.56% |
| Standard deviation | 12.70% | 13.74% |
| Sharpe ratio | -0.82 | -1.00 |
| Sortino ratio | -1.09 | -1.33 |
| Maximum drawdown | −13.7% (30-03-2026) | −14.8% (31-03-2026) |
| Beta | -- | 0.94 |
| Alpha | -- | −1.99% |
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 | JM Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.76% | +9.29% |
| Standard deviation | 12.46% | 13.52% |
| Sharpe ratio | 0.46 | 0.24 |
| Sortino ratio | 0.63 | 0.33 |
| Maximum drawdown | −17.0% (30-03-2026) | −16.9% (28-02-2025) |
| Beta | -- | 0.93 |
| Alpha | -- | −0.63% |
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 | JM Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.14% | +9.80% |
| Standard deviation | 12.06% | 13.80% |
| Sharpe ratio | 0.53 | 0.29 |
| Sortino ratio | 0.71 | 0.39 |
| Maximum drawdown | −17.0% (30-03-2026) | −17.2% (20-06-2022) |
| Beta | -- | 0.94 |
| Alpha | -- | +1.16% |
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 | JM Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.88% | +9.96% |
| Standard deviation | 13.91% | 13.66% |
| Sharpe ratio | 0.49 | 0.31 |
| Sortino ratio | 0.70 | 0.42 |
| Maximum drawdown | −36.6% (23-03-2020) | −17.2% (20-06-2022) |
| Beta | -- | 0.94 |
| Alpha | -- | +0.27% |
From daily NAVs, 03-01-2013 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.
JM Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JM Aggressive Hybrid Fund (Direct) | −17.0% | 23-09-2024 | 30-03-2026 | Not yet | -- | −8.8% |
| Mahindra Manulife Flexi Cap Fund (Direct) | −17.2% | 17-01-2022 | 20-06-2022 | 12-09-2022 | 3 months | −10.1% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 25-08-2021, 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.
JM Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap 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.
JM Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap 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.
JM Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM Aggressive Hybrid Fund (Direct) | 90% | 67% | 6.54% |
| Mahindra Manulife Flexi Cap Fund (Direct) | 98% | 94% | 2.95% |
From month-end values since 25-08-2021. 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.
JM Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: JM Aggressive Hybrid Fund, September 2026; Mahindra Manulife Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 33.7%
- Held by both
- 23
- Only in JM Aggressive Hybrid
- 58
- Only in Mahindra Manulife Flexi Cap
- 49
| Security | % of JM Aggressive Hybrid | % of Mahindra Manulife Flexi Cap |
|---|---|---|
| Eternal Limited | 2.94% | 2.50% |
| Bharti Airtel Limited | 2.71% | 2.49% |
| Bajaj Finance Limited | 2.63% | 2.38% |
| ICICI Bank Limited | 2.03% | 6.44% |
| Kotak Mahindra Bank Limited | 2.42% | 1.92% |
| Reliance Industries Limited | 2.21% | 1.81% |
| Torrent Pharmaceuticals Limited | 1.95% | 1.69% |
| HDFC Bank Limited | 1.68% | 3.93% |
| Adani Port & Special Economic Zone Ltd | 1.69% | 1.67% |
| Axis Bank Limited | 1.57% | 2.55% |
| RBL Bank Limited | 1.75% | 1.52% |
| Multi Commodity Exchange of India Ltd. | 2.09% | 1.46% |
| Tech Mahindra Limited | 1.46% | 1.50% |
| Larsen & Toubro Limited | 1.43% | 2.02% |
| Ujjivan Small Finance Bank Limited | 2.00% | 1.32% |
| UNO Minda Limited | 1.08% | 1.74% |
| Maruti Suzuki India Limited | 1.23% | 1.01% |
| Hindustan Aeronautics Limited | 1.12% | 0.99% |
| InterGlobe Aviation Limited | 1.54% | 0.92% |
| Adani Enterprises Limited | 1.33% | 0.82% |
| Bajaj Auto Limited | 0.73% | 1.16% |
| BELRISE INDUSTRIES LIMITED | 0.67% | 0.85% |
| One 97 Communications Limited | 3.80% | 0.51% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.7% means 33.7% 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 JM Aggressive Hybrid Fund
| Security | % of fund |
|---|---|
| 6.94% GOI 11-May-2036 | 2.67% |
| 6.36% GOI 16-Feb-2031 | 2.29% |
| Apollo Hospitals Enterprise Limited | 2.13% |
| Mahindra & Mahindra Limited | 1.94% |
| 7.9% Mahindra & Mahindra Financial Serv Ltd. 21-FEB-2028 | 1.83% |
Largest holdings only in Mahindra Manulife Flexi Cap Fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 1.91% |
| Divi's Laboratories Limited | 1.72% |
| Titan Company Limited | 1.60% |
| Sun Pharmaceutical Industries Limited | 1.56% |
| TVS Motor Company Limited | 1.53% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Aggressive Hybrid | Mahindra Manulife Flexi Cap |
|---|---|---|
| Equity | 77.8% | 96.8% |
| Debt | 19.9% | 0.0% |
| Cash and others | 2.3% | 3.2% |
Market cap of stocks
| Market cap | JM Aggressive Hybrid | Mahindra Manulife Flexi Cap |
|---|---|---|
| Large Cap | 43.2% | 51.4% |
| Mid Cap | 16.7% | 21.8% |
| Small Cap | 16.6% | 23.0% |
| Not on AMFI's list | 1.2% | 0.7% |
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 | JM Aggressive Hybrid | Mahindra Manulife Flexi Cap |
|---|---|---|
| Banks | 12.4% | 22.0% |
| Pharmaceuticals & Biotechnology | 1.9% | 9.7% |
| Retailing | 5.2% | 6.2% |
| Finance | 5.6% | 4.8% |
| Industrial Products | 1.4% | 4.8% |
| Capital Markets | 4.5% | 1.5% |
| IT - Software | 2.8% | 4.1% |
| Automobiles | 3.9% | 3.7% |
| Financial Technology (Fintech) | 3.8% | 0.5% |
The six largest sectors of each fund's stocks, % of the fund.
JM Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Aggressive Hybrid Fund | Mahindra Manulife Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.16% | 1.00% |
| Base expense ratio (Direct) | 0.75% | 0.52% |
| Total expense ratio (Regular) | 2.69% | 2.49% |
| Base expense ratio (Regular) | 2.06% | 1.83% |
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 JM Aggressive Hybrid with
JM Aggressive Hybrid Fund vs Mahindra Manulife Flexi Cap Fund: Frequently Asked Questions
What is the difference between JM Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund?
JM Aggressive Hybrid Fund is an Aggressive Hybrid fund, Mahindra Manulife Flexi Cap Fund is a Flexi Cap fund, run by JM Financial Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 33.7%. JM Aggressive Hybrid Fund charges 1.16% a year and Mahindra Manulife Flexi Cap Fund 1.00%.
Which has given higher returns, JM Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
Over 1 year: JM Aggressive Hybrid Fund −5.13%, Mahindra Manulife Flexi Cap Fund −8.56%. Over 3 years: JM Aggressive Hybrid Fund +11.76% a year, Mahindra Manulife Flexi Cap Fund +9.29% a year. Over 5 years: JM Aggressive Hybrid Fund +12.14% a year, Mahindra Manulife Flexi Cap Fund +9.80% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
Mahindra Manulife Flexi Cap Fund charges less: 1.00% a year against 1.16%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund overlap?
33.7%. They hold 23 of the same securities, the largest shared ones being ETERNAL, BHARTIARTL, BAJFINANCE. From each fund's latest monthly portfolio.
Which is riskier, JM Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
On SEBI's riskometer, JM Aggressive Hybrid Fund is rated Very High and Mahindra Manulife Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 12.46% and 13.52% a year.
Which is better for SIP, JM Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,99,769 in JM Aggressive Hybrid Fund (XIRR 10.6% a year) and ₹7,44,780 in Mahindra Manulife Flexi Cap Fund (XIRR 7.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund?
Yes. 33.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund?
JM Aggressive Hybrid Fund: Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar. Mahindra Manulife Flexi Cap Fund: $ Mr. Neelesh Dhamnaskar, Kirti Dalvi.
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.