JM Dynamic Term Fund vs Union Corporate Bond Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Dynamic Term Fund is a Dynamic Bond fund and Union Corporate Bond Fund is a Corporate Bond fund. In the 3 years to 30-10-2026, JM Dynamic Term Fund (Direct) returned 6.5% a year and Union Corporate Bond Fund (Direct) returned 6.6% a year. JM Dynamic Term Fund charges 0.44% a year and Union Corporate Bond Fund 0.41% (Direct plans). Their portfolios overlap 11.3%: they hold 3 of the same securities.
JM Dynamic Term Fund
Dynamic Bond
- 3 year return
- 6.5%
- Expense ratio
- 0.44%
- NAV
- ₹46.33
Union Corporate Bond Fund
Corporate Bond
- 3 year return
- 6.6%
- Expense ratio
- 0.41%
- NAV
- ₹16.44
Which is better, JM Dynamic Term or Union Corporate Bond? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JM Dynamic Term returned more over 5 years: 5.9% a year against 5.7%.
- Union Corporate Bond returned more over 3 years: 6.6% a year against 6.5%.
- Union Corporate Bond costs less: 0.41% a year against 0.44% (Direct plans).
- Union Corporate Bond swung less over 3 years: a standard deviation of 1.2% a year against 1.8%.
- JM Dynamic Term fell less in its worst fall since 01-06-2018: −3.0% against −5.7%.
- Union Corporate Bond is the larger fund: ₹284 Cr against ₹52 Cr.
- Their portfolios overlap 11.3%: 3 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 | Union Corporate Bond Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Union Mutual Fund |
| Category | Dynamic Bond | Corporate Bond |
| AUM | ₹52 Cr (30-09-2026) | ₹284 Cr (30-09-2026) |
| NAV | ₹46.33 (Direct) | ₹16.44 (Direct) |
| Expense ratio (Direct) | 0.44% | 0.41% |
| Expense ratio (Regular) | 0.93% | 0.71% |
| Riskometer | Moderate | Moderate |
| Benchmark | CRISIL Dynamic Bond A-III Index | CRISIL Corporate Debt A-II Index. CRISIL Benchmark Disclaimer: CRISIL Indices are the sole property of CRISIL Limited (C |
| Launch date | 25-06-2003 | 25-05-2018 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Killol Pandya, Ruchi Fozdar, Jayant Dhoot | Anindya Sarkar, Shrenuj Parekh, Parijat Agrawal |
| Exit load | Nil | NIL |
JM Dynamic Term vs Union Corporate Bond: 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% |
| Union Corporate Bond Fund (Direct) | −0.37% | −0.44% | +1.73% | +2.86% | +6.63% | +5.69% | -- |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | +5.98% | +6.68% |
| Corporate Bond average | −0.24% | +0.05% | +2.31% | +4.00% | +7.02% | +6.20% | -- |
Category average: the average of the 22 Dynamic Bond funds and the 21 Corporate Bond funds, same plan type.
JM Dynamic Term vs Union Corporate Bond: Year-wise Returns
| Year | JM Dynamic TermJM Dynamic Term | Union Corporate BondUnion Corporate Bond |
|---|---|---|
| 2026to date | +2.11% | +2.26% |
| 2025 | +7.51% | +7.91% |
| 2024 | +8.50% | +8.33% |
| 2023 | +6.66% | +6.74% |
| 2022 | +4.22% | +2.76% |
| 2021 | +3.44% | +3.19% |
JM Dynamic Term vs Union Corporate Bond: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,313 of them, one for each trading day from 01-06-2021 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)
Union Corporate Bond Fund (Direct)
to
Nov 2021Oct 2019
to
Oct 2022Sept 2020
to
Sept 2023Aug 2021
to
Aug 2024Jul 2022
to
Jul 2025May 2023
to
May 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 | 9.4 | 90.6 | 0.0 | 0.0 | 0.0 | 0.0 | 6.2% | 6.2% | 4.6% | 8.4% |
| Union Corporate Bond | 0.0 | 16.1 | 83.9 | 0.0 | 0.0 | 0.0 | 0.0 | 6.1% | 6.0% | 4.0% | 8.0% |
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 01-06-2018. Past returns do not promise future returns.
JM Dynamic Term vs Union Corporate Bond: 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 01-06-2018 to 30-10-2026: 101 instalments, ₹10,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Dynamic TermJM Dynamic Term Fund (Direct) | ₹10,10,000 | ₹13,01,088 | ₹2,91,088 | 5.9% |
| Union Corporate BondUnion Corporate Bond Fund (Direct) | ₹10,10,000 | ₹13,00,889 | ₹2,90,889 | 5.9% |
JM Dynamic TermJM Dynamic Term Fund (Direct)
Union Corporate BondUnion Corporate Bond 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 Union Corporate Bond: 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) | Union Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.59% | +2.86% |
| Standard deviation | 1.48% | 1.55% |
| Sharpe ratio | -1.79 | -1.54 |
| Sortino ratio | -2.30 | -2.01 |
| Maximum drawdown | −1.1% (02-04-2026) | −1.1% (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 | JM Dynamic Term Fund (Direct) | Union Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.51% | +6.63% |
| Standard deviation | 1.79% | 1.22% |
| Sharpe ratio | 0.27 | 0.50 |
| Sortino ratio | 0.39 | 0.70 |
| Maximum drawdown | −1.2% (26-08-2025) | −1.1% (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 | JM Dynamic Term Fund (Direct) | Union Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.92% | +5.69% |
| Standard deviation | 1.54% | 1.16% |
| Sharpe ratio | 0.07 | -0.10 |
| Sortino ratio | 0.11 | -0.13 |
| Maximum drawdown | −1.2% (26-08-2025) | −1.5% (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 | JM Dynamic Term Fund (Direct) | Union Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.23% | +6.06% |
| Standard deviation | 1.33% | 2.71% |
| Sharpe ratio | 0.89 | 0.28 |
| Sortino ratio | 1.42 | 0.34 |
| Maximum drawdown | −3.0% (24-03-2020) | −5.7% (10-06-2019) |
| 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)
Union Corporate Bond 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% |
| Union Corporate Bond Fund (Direct) | −5.7% | 03-06-2019 | 10-06-2019 | 29-10-2019 | 5 months | −1.0% |
From daily values since 01-06-2018, 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)
Union Corporate Bond 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)
Union Corporate Bond 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)
Union Corporate Bond Fund (Direct)
JM Dynamic Term vs Union Corporate Bond: Portfolio Overlap
From each fund's latest monthly portfolio: JM Dynamic Term Fund, September 2026; Union Corporate Bond Fund, September 2026
Holdings in common
- Overlap
- 11.3%
- Held by both
- 3
- Only in JM Dynamic Term
- 12
- Only in Union Corporate Bond
- 19
| Security | % of JM Dynamic Term | % of Union Corporate Bond |
|---|---|---|
| 7.08% Bajaj Housing Finance Ltd 12-JUN-2030 | 5.54% | 8.47% |
| 6.68% GOI 07-Jul-2040 | 5.44% | 9.98% |
| Corporate Debt Market Development Fund - Class A2 Units | 0.34% | 0.66% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 11.3% means 11.3% 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% |
| 7.48% NABARD 15-SEP-2028 | 7.64% |
| 7.04% SIDBI 09-FEB-2029 | 7.54% |
Largest holdings only in Union Corporate Bond Fund
| Security | % of fund |
|---|---|
| Small Industries Development Bank of India | 8.94% |
| Kotak Mahindra Prime Ltd. | 5.21% |
| Larsen & Toubro Ltd. | 3.52% |
| REC Ltd. | 3.52% |
| Power Finance Corporation Ltd. | 3.52% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Dynamic Term | Union Corporate Bond |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 92.5% | 86.8% |
| Cash and others | 7.5% | 13.2% |
JM Dynamic Term vs Union Corporate Bond: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Dynamic Term Fund | Union Corporate Bond Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.44% | 0.41% |
| Base expense ratio (Direct) | 0.37% | 0.34% |
| Total expense ratio (Regular) | 0.93% | 0.71% |
| Base expense ratio (Regular) | 0.80% | 0.61% |
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 Union Corporate Bond Fund: Frequently Asked Questions
What is the difference between JM Dynamic Term Fund and Union Corporate Bond Fund?
JM Dynamic Term Fund is a Dynamic Bond fund, Union Corporate Bond Fund is a Corporate Bond fund, run by JM Financial Mutual Fund and Union Mutual Fund. Their portfolios overlap 11.3%. JM Dynamic Term Fund charges 0.44% a year and Union Corporate Bond Fund 0.41%.
Which has given higher returns, JM Dynamic Term Fund or Union Corporate Bond Fund?
Over 1 year: JM Dynamic Term Fund +2.59%, Union Corporate Bond Fund +2.86%. Over 3 years: JM Dynamic Term Fund +6.51% a year, Union Corporate Bond Fund +6.63% a year. Over 5 years: JM Dynamic Term Fund +5.92% a year, Union Corporate Bond Fund +5.69% 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 Union Corporate Bond Fund?
Union Corporate Bond Fund charges less: 0.41% a year against 0.44%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Dynamic Term Fund and Union Corporate Bond Fund overlap?
11.3%. They hold 3 of the same securities, the largest shared ones being 7.08% Bajaj Housing Finance Ltd 12-JUN-2030, 6.68% GOI 07-Jul-2040, Corporate Debt Market Development Fund - Class A2 Units. From each fund's latest monthly portfolio.
Which is riskier, JM Dynamic Term Fund or Union Corporate Bond Fund?
On SEBI's riskometer, JM Dynamic Term Fund is rated Moderate and Union Corporate Bond Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.79% and 1.22% a year.
Which is better for SIP, JM Dynamic Term Fund or Union Corporate Bond 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 ₹7,10,186 in Union Corporate Bond Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM Dynamic Term Fund and Union Corporate Bond Fund?
Yes. 11.3% 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 Union Corporate Bond Fund?
JM Dynamic Term Fund: Killol Pandya, Ruchi Fozdar, Jayant Dhoot. Union Corporate Bond Fund: Anindya Sarkar, Shrenuj Parekh, Parijat Agrawal.
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.