JM Dynamic Term Fund vs LIC MF Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Dynamic Term Fund is a Dynamic Bond fund and LIC MF Short Term Fund is a Short Duration fund. In the 3 years to 30-10-2026, JM Dynamic Term Fund (Direct) returned 6.5% a year and LIC MF Short Term Fund (Direct) returned 7.3% a year. JM Dynamic Term Fund charges 0.44% a year and LIC MF Short Term Fund 0.36% (Direct plans). Their portfolios overlap 19.2%: they hold 4 of the same securities.
JM Dynamic Term Fund
Dynamic Bond
- 3 year return
- 6.5%
- Expense ratio
- 0.44%
- NAV
- ₹46.33
LIC MF Short Term Fund
Short Duration
- 3 year return
- 7.3%
- Expense ratio
- 0.36%
- NAV
- ₹16.64
Which is better, JM Dynamic Term or LIC MF 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.
- LIC MF Short Term returned more over 5 years: 6.2% a year against 5.9%.
- LIC MF Short Term returned more over 3 years: 7.3% a year against 6.5%.
- LIC MF Short Term costs less: 0.36% a year against 0.44% (Direct plans).
- LIC MF Short Term swung less over 3 years: a standard deviation of 1.0% a year against 1.8%.
- LIC MF Short Term fell less in its worst fall since 04-02-2019: −2.3% against −3.0%.
- LIC MF Short Term is the larger fund: ₹122 Cr against ₹52 Cr.
- Their portfolios overlap 19.2%: 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 | JM Dynamic Term Fund | LIC MF Short Term Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | LIC Mutual Fund |
| Category | Dynamic Bond | Short Duration |
| AUM | ₹52 Cr (30-09-2026) | ₹122 Cr (30-09-2026) |
| NAV | ₹46.33 (Direct) | ₹16.64 (Direct) |
| Expense ratio (Direct) | 0.44% | 0.36% |
| Expense ratio (Regular) | 0.93% | 1.14% |
| Riskometer | Moderate | Moderate |
| Benchmark | CRISIL Dynamic Bond A-III Index | CRISIL Short Duration Debt A-II Index |
| Launch date | 25-06-2003 | 01-02-2019 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Killol Pandya, Ruchi Fozdar, Jayant Dhoot | Pratik Harish Shroff, Rahul Singh |
| Exit load | Nil | Nil |
JM Dynamic Term vs LIC MF 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 |
|---|---|---|---|---|---|---|---|
| JM Dynamic Term Fund (Direct) | −0.20% | −0.15% | +1.86% | +2.59% | +6.51% | +5.92% | +6.50% |
| LIC MF Short Term Fund (Direct) | −0.22% | +0.23% | +2.59% | +4.52% | +7.29% | +6.23% | -- |
| 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% | -- |
Category average: the average of the 22 Dynamic Bond funds and the 25 Short Duration funds, same plan type.
JM Dynamic Term vs LIC MF Short Term: Year-wise Returns
| Year | JM DynamicJM Dynamic Term | LIC MF ShortLIC MF Short Term |
|---|---|---|
| 2026to date | +2.11% | +3.74% |
| 2025 | +7.51% | +8.07% |
| 2024 | +8.50% | +8.49% |
| 2023 | +6.66% | +7.29% |
| 2022 | +4.22% | +3.11% |
| 2021 | +3.44% | +3.29% |
JM Dynamic Term vs LIC MF Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,145 of them, one for each trading day from 04-02-2022 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 Dynamic Term Fund (Direct)
LIC MF Short Term Fund (Direct)
to
Jun 2022Apr 2020
to
Apr 2023Jan 2021
to
Jan 2024Nov 2021
to
Nov 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Dynamic Term | 0.0 | 10.7 | 89.3 | 0.0 | 0.0 | 0.0 | 0.0 | 6.2% | 5.9% | 4.6% | 8.4% |
| LIC MF Short Term | 0.0 | 16.9 | 83.1 | 0.0 | 0.0 | 0.0 | 0.0 | 6.2% | 6.0% | 4.3% | 8.2% |
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 04-02-2019. Past returns do not promise future returns.
JM Dynamic Term vs LIC MF 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 01-02-2019 to 30-10-2026: 93 instalments, ₹9,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Dynamic TermJM Dynamic Term Fund (Direct) | ₹9,30,000 | ₹11,71,312 | ₹2,41,312 | 5.9% |
| LIC MF Short TermLIC MF Short Term Fund (Direct) | ₹9,30,000 | ₹11,96,797 | ₹2,66,797 | 6.4% |
JM Dynamic TermJM Dynamic Term Fund (Direct)
LIC MF Short TermLIC MF 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.
JM Dynamic Term vs LIC MF Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Dynamic Term Fund (Direct) | LIC MF Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.59% | +4.52% |
| Standard deviation | 1.48% | 1.30% |
| Sharpe ratio | -1.79 | -0.56 |
| Sortino ratio | -2.30 | -0.83 |
| Maximum drawdown | −1.1% (02-04-2026) | −0.8% (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 | JM Dynamic Term Fund (Direct) | LIC MF Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.51% | +7.29% |
| Standard deviation | 1.79% | 1.01% |
| Sharpe ratio | 0.27 | 1.24 |
| Sortino ratio | 0.39 | 1.95 |
| Maximum drawdown | −1.2% (26-08-2025) | −0.8% (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 | JM Dynamic Term Fund (Direct) | LIC MF Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.92% | +6.23% |
| Standard deviation | 1.54% | 0.96% |
| Sharpe ratio | 0.07 | 0.45 |
| Sortino ratio | 0.11 | 0.65 |
| Maximum drawdown | −1.2% (26-08-2025) | −1.1% (09-05-2022) |
| 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 | JM Dynamic Term Fund (Direct) | LIC MF Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.23% | +6.82% |
| Standard deviation | 1.33% | 1.32% |
| Sharpe ratio | 0.89 | 1.23 |
| Sortino ratio | 1.42 | 2.06 |
| Maximum drawdown | −3.0% (24-03-2020) | −2.3% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Dynamic Term Fund (Direct)
LIC MF Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JM Dynamic Term Fund (Direct) | −3.0% | 06-03-2020 | 24-03-2020 | 20-04-2020 | 27 days | −0.6% |
| LIC MF Short Term Fund (Direct) | −2.3% | 06-03-2020 | 23-03-2020 | 17-04-2020 | 25 days | −0.3% |
From daily values since 04-02-2019, 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 Dynamic Term Fund (Direct)
LIC MF 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.
JM Dynamic Term Fund (Direct)
LIC MF 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.
JM Dynamic Term Fund (Direct)
LIC MF Short Term Fund (Direct)
JM Dynamic Term vs LIC MF Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: JM Dynamic Term Fund, September 2026; LIC MF Short Term Fund, September 2026
Holdings in common
- Overlap
- 19.2%
- Held by both
- 4
- Only in JM Dynamic Term
- 11
- Only in LIC MF Short Term
- 13
| Security | % of JM Dynamic Term | % of LIC MF Short Term |
|---|---|---|
| 7.48% NABARD 15-SEP-2028 | 7.64% | 8.20% |
| HDFC Bank Limited 05-MAR-2027 | 7.46% | 7.99% |
| 6.94% GOI 11-May-2036 | 3.78% | 4.15% |
| Corporate Debt Market Development Fund - Class A2 Units | 0.34% | 0.61% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.2% means 19.2% 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 Dynamic Term Fund
| Security | % of fund |
|---|---|
| 6.36% GOI 16-Feb-2031 | 12.24% |
| 7.23% Power Finance Corporation Limited 05-JAN-2027 | 8.64% |
| 7.5% REC Limited 28-FEB-2030 | 8.55% |
| 7.04% SIDBI 09-FEB-2029 | 7.54% |
| Punjab National Bank 04-MAR-2027 | 7.46% |
Largest holdings only in LIC MF Short Term Fund
| Security | % of fund |
|---|---|
| 7.45% Bharti Telecom Ltd. | 8.56% |
| 7.65% State Government of Karnataka | 8.51% |
| 8.95% 360 One Prime Ltd. | 8.46% |
| 7.49% National Highways Authority of India | 8.33% |
| 6.61% Power Finance Corporation Ltd. | 8.27% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Dynamic Term | LIC MF Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 92.5% | 95.8% |
| Cash and others | 7.5% | 4.2% |
JM Dynamic Term vs LIC MF Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Dynamic Term Fund | LIC MF Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.44% | 0.36% |
| Base expense ratio (Direct) | 0.37% | 0.30% |
| Total expense ratio (Regular) | 0.93% | 1.14% |
| Base expense ratio (Regular) | 0.80% | 1.00% |
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 Dynamic Term with
JM Dynamic Term Fund vs LIC MF Short Term Fund: Frequently Asked Questions
What is the difference between JM Dynamic Term Fund and LIC MF Short Term Fund?
JM Dynamic Term Fund is a Dynamic Bond fund, LIC MF Short Term Fund is a Short Duration fund, run by JM Financial Mutual Fund and LIC Mutual Fund. Their portfolios overlap 19.2%. JM Dynamic Term Fund charges 0.44% a year and LIC MF Short Term Fund 0.36%.
Which has given higher returns, JM Dynamic Term Fund or LIC MF Short Term Fund?
Over 1 year: JM Dynamic Term Fund +2.59%, LIC MF Short Term Fund +4.52%. Over 3 years: JM Dynamic Term Fund +6.51% a year, LIC MF Short Term Fund +7.29% a year. Over 5 years: JM Dynamic Term Fund +5.92% a year, LIC MF Short Term Fund +6.23% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Dynamic Term Fund or LIC MF Short Term Fund?
LIC MF Short Term Fund charges less: 0.36% a year against 0.44%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Dynamic Term Fund and LIC MF Short Term Fund overlap?
19.2%. They hold 4 of the same securities, the largest shared ones being 7.48% NABARD 15-SEP-2028, HDFC Bank Limited 05-MAR-2027, 6.94% GOI 11-May-2036. From each fund's latest monthly portfolio.
Which is riskier, JM Dynamic Term Fund or LIC MF Short Term Fund?
On SEBI's riskometer, JM Dynamic Term Fund is rated Moderate and LIC MF Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.79% and 1.01% a year.
Which is better for SIP, JM Dynamic Term Fund or LIC MF Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,08,716 in JM Dynamic Term Fund (XIRR 5.8% a year) and ₹7,23,285 in LIC MF Short Term Fund (XIRR 6.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM Dynamic Term Fund and LIC MF Short Term Fund?
Yes. 19.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Dynamic Term Fund and LIC MF Short Term Fund?
JM Dynamic Term Fund: Killol Pandya, Ruchi Fozdar, Jayant Dhoot. LIC MF Short Term Fund: Pratik Harish Shroff, Rahul Singh.
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.