Mahindra Manulife Dynamic Term Fund vs UTI Dynamic Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Dynamic Term Fund and UTI Dynamic Term Fund are both Dynamic Bond funds. In the 3 years to 30-10-2026, Mahindra Manulife Dynamic Term Fund (Direct) returned 7.3% a year and UTI Dynamic Term Fund (Direct) returned 7.2% a year. Mahindra Manulife Dynamic Term Fund charges 0.42% a year and UTI Dynamic Term Fund 0.56% (Direct plans). Their portfolios overlap 16.6%: they hold 3 of the same securities.
Mahindra Manulife Dynamic Term Fund
Dynamic Bond
- 3 year return
- 7.3%
- Expense ratio
- 0.42%
- NAV
- ₹16.25
UTI Dynamic Term Fund
Dynamic Bond
- 3 year return
- 7.2%
- Expense ratio
- 0.56%
- NAV
- ₹35.40
Which is better, Mahindra Manulife Dynamic Term or UTI Dynamic Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI Dynamic Term returned more over 5 years: 7.5% a year against 5.8%.
- Mahindra Manulife Dynamic Term returned more over 3 years: 7.3% a year against 7.2%.
- Mahindra Manulife Dynamic Term costs less: 0.42% a year against 0.56% (Direct plans).
- UTI Dynamic Term swung less over 3 years: a standard deviation of 1.8% a year against 2.0%.
- Mahindra Manulife Dynamic Term fell less in its worst fall since 24-08-2018: −2.3% against −8.1%.
- UTI Dynamic Term is the larger fund: ₹396 Cr against ₹47 Cr.
- Their portfolios overlap 16.6%: 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 | Mahindra Manulife Dynamic Term Fund | UTI Dynamic Term Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | UTI Mutual Fund |
| Category | Dynamic Bond | Dynamic Bond |
| AUM | ₹47 Cr (30-09-2026) | ₹396 Cr (30-09-2026) |
| NAV | ₹16.25 (Direct) | ₹35.40 (Direct) |
| Expense ratio (Direct) | 0.42% | 0.56% |
| Expense ratio (Regular) | 1.59% | 1.28% |
| Riskometer | Moderately High | Moderate |
| Benchmark | CRISIL Dynamic Bond A-III Index | CRISIL Dynamic Bond A-III Index |
| Launch date | 20-08-2018 | 16-06-2010 |
| Minimum investment | ₹1,000 | Regular Plan-Half-yearly Reinvestment of IDCW- Rs.20000, Regular Plan-Half-yearly Payout of IDCW- Rs.20000, Regular Plan-Growth- Rs.500, Regular Plan-Flexi Reinvestment of IDCW- Rs.20000, Regular Plan-Flexi Payout of IDCW- Rs.20000, Regular Plan-Quarterly |
| Lock in | None | None |
| Fund managers | Rahul Pal, Kush Sonigara | Pankaj Pathak FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Nil | Nil |
Mahindra Manulife Dynamic Term vs UTI Dynamic 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 |
|---|---|---|---|---|---|---|---|
| Mahindra Manulife Dynamic Term Fund (Direct) | −0.66% | −0.65% | +2.02% | +3.44% | +7.25% | +5.83% | -- |
| UTI Dynamic Term Fund (Direct) | −0.58% | −0.36% | +1.54% | +3.81% | +7.15% | +7.47% | +6.62% |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | +5.98% | +6.68% |
Category average: the average of the 22 Dynamic Bond funds, same plan type.
Mahindra Manulife Dynamic Term vs UTI Dynamic Term: Year-wise Returns
| Year | Mahindra ManulifeMahindra Manulife Dynamic Term | UTIUTI Dynamic Term |
|---|---|---|
| 2026to date | +3.00% | +3.02% |
| 2025 | +7.23% | +6.92% |
| 2024 | +9.63% | +9.59% |
| 2023 | +7.06% | +7.04% |
| 2022 | +1.96% | +10.78% |
| 2021 | +3.55% | +11.38% |
Mahindra Manulife Dynamic Term vs UTI Dynamic Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,257 of them, one for each trading day from 24-08-2021 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.
Mahindra Manulife Dynamic Term Fund (Direct)
UTI Dynamic Term Fund (Direct)
to
Jan 2022Dec 2019
to
Dec 2022Oct 2020
to
Oct 2023Sept 2021
to
Sept 2024Aug 2022
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mahindra Manulife Dynamic Term | 0.0 | 39.1 | 60.9 | 0.0 | 0.0 | 0.0 | 0.0 | 5.9% | 5.8% | 3.6% | 8.8% |
| UTI Dynamic Term | 0.0 | 6.6 | 72.9 | 20.5 | 0.0 | 0.0 | 0.0 | 8.6% | 9.1% | 2.4% | 11.9% |
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 24-08-2018. Past returns do not promise future returns.
Mahindra Manulife Dynamic Term vs UTI Dynamic 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 24-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mahindra Manulife Dynamic TermMahindra Manulife Dynamic Term Fund (Direct) | ₹9,90,000 | ₹12,72,063 | ₹2,82,063 | 6.0% |
| UTI Dynamic TermUTI Dynamic Term Fund (Direct) | ₹9,90,000 | ₹13,52,648 | ₹3,62,648 | 7.4% |
Mahindra Manulife Dynamic TermMahindra Manulife Dynamic Term Fund (Direct)
UTI Dynamic TermUTI Dynamic 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.
Mahindra Manulife Dynamic Term vs UTI Dynamic Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Dynamic Term Fund (Direct) | UTI Dynamic Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.44% | +3.81% |
| Standard deviation | 2.00% | 1.53% |
| Sharpe ratio | -0.90 | -0.94 |
| Sortino ratio | -1.22 | -1.23 |
| Maximum drawdown | −1.8% (23-10-2026) | −1.4% (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 | Mahindra Manulife Dynamic Term Fund (Direct) | UTI Dynamic Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.25% | +7.15% |
| Standard deviation | 1.97% | 1.76% |
| Sharpe ratio | 0.63 | 0.64 |
| Sortino ratio | 0.89 | 0.92 |
| Maximum drawdown | −1.8% (23-10-2026) | −1.6% (26-08-2025) |
| 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 | Mahindra Manulife Dynamic Term Fund (Direct) | UTI Dynamic Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.83% | +7.47% |
| Standard deviation | 1.92% | 3.71% |
| Sharpe ratio | 0.01 | 0.45 |
| Sortino ratio | 0.02 | 1.47 |
| Maximum drawdown | −2.3% (09-05-2022) | −1.6% (26-08-2025) |
| 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 | Mahindra Manulife Dynamic Term Fund (Direct) | UTI Dynamic Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.09% | +7.80% |
| Standard deviation | 1.79% | 3.93% |
| Sharpe ratio | 0.46 | 0.45 |
| Sortino ratio | 0.67 | 0.75 |
| Maximum drawdown | −2.3% (09-05-2022) | −8.1% (10-06-2019) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 24-08-2018 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.
Mahindra Manulife Dynamic Term Fund (Direct)
UTI Dynamic Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Dynamic Term Fund (Direct) | −2.3% | 15-12-2021 | 09-05-2022 | 17-08-2022 | 3 months | −1.6% |
| UTI Dynamic Term Fund (Direct) | −8.1% | 26-12-2018 | 10-06-2019 | 25-06-2020 | 13 months | −1.1% |
From daily values since 24-08-2018, 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.
Mahindra Manulife Dynamic Term Fund (Direct)
UTI Dynamic 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.
Mahindra Manulife Dynamic Term Fund (Direct)
UTI Dynamic 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.
Mahindra Manulife Dynamic Term Fund (Direct)
UTI Dynamic Term Fund (Direct)
Mahindra Manulife Dynamic Term vs UTI Dynamic Term: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Dynamic Term Fund, September 2026; UTI Dynamic Term Fund, September 2026
Holdings in common
- Overlap
- 16.6%
- Held by both
- 3
- Only in Mahindra Manulife Dynamic Term
- 11
- Only in UTI Dynamic Term
- 13
| Security | % of Mahindra Manulife Dynamic Term | % of UTI Dynamic Term |
|---|---|---|
| 7.71% Government of India 2066 | 15.86% | 12.62% |
| 7.24% Government of India 2055 | 10.04% | 3.59% |
| Corporate Debt Market Development Fund Class A2 | 0.61% | 0.38% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.6% means 16.6% 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 Mahindra Manulife Dynamic Term Fund
| Security | % of fund |
|---|---|
| 7.25% State Government Securities 2037 | 10.10% |
| 7.29% Small Industries Dev Bank of India 2029 | 8.33% |
| 7.01% National Bank For Agriculture and Rural Development 2029 | 8.31% |
| 8.55% Aditya Birla Real Estate Limited 2029 | 6.31% |
| 8.02% Cholamandalam Investment and Finance Company Ltd 2029 (FRN) | 5.29% |
Largest holdings only in UTI Dynamic Term Fund
| Security | % of fund |
|---|---|
| 6.90% GSEC MAT - 15/04/2065 | 28.31% |
| NCD BHARTI TELECOM LTD. | 6.33% |
| NCD MAHINDRA RURAL HOUSING FINANCE LTD | 6.32% |
| NCD JAMNAGAR UTILITIES AND POWER PRIVATE LIMITED | 6.31% |
| NCD CANFIN HOMES LTD. | 5.06% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Dynamic Term | UTI Dynamic Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 88.4% | 90.9% |
| Cash and others | 11.6% | 9.1% |
Mahindra Manulife Dynamic Term vs UTI Dynamic Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Dynamic Term Fund | UTI Dynamic Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.42% | 0.56% |
| Base expense ratio (Direct) | 0.35% | 0.47% |
| Total expense ratio (Regular) | 1.59% | 1.28% |
| Base expense ratio (Regular) | 1.35% | 1.10% |
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 Mahindra Manulife Dynamic Term with
Mahindra Manulife Dynamic Term Fund vs UTI Dynamic Term Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Dynamic Term Fund and UTI Dynamic Term Fund?
Both are Dynamic Bond funds, run by Mahindra Manulife Mutual Fund and UTI Mutual Fund. Their portfolios overlap 16.6%. Mahindra Manulife Dynamic Term Fund charges 0.42% a year and UTI Dynamic Term Fund 0.56%.
Which has given higher returns, Mahindra Manulife Dynamic Term Fund or UTI Dynamic Term Fund?
Over 1 year: Mahindra Manulife Dynamic Term Fund +3.44%, UTI Dynamic Term Fund +3.81%. Over 3 years: Mahindra Manulife Dynamic Term Fund +7.25% a year, UTI Dynamic Term Fund +7.15% a year. Over 5 years: Mahindra Manulife Dynamic Term Fund +5.83% a year, UTI Dynamic Term Fund +7.47% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mahindra Manulife Dynamic Term Fund or UTI Dynamic Term Fund?
Mahindra Manulife Dynamic Term Fund charges less: 0.42% a year against 0.56%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Dynamic Term Fund and UTI Dynamic Term Fund overlap?
16.6%. They hold 3 of the same securities, the largest shared ones being 7.71% Government of India 2066, 7.24% Government of India 2055, Corporate Debt Market Development Fund Class A2. From each fund's latest monthly portfolio.
Which is riskier, Mahindra Manulife Dynamic Term Fund or UTI Dynamic Term Fund?
On SEBI's riskometer, Mahindra Manulife Dynamic Term Fund is rated Moderately High and UTI Dynamic Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.97% and 1.76% a year.
Which is better for SIP, Mahindra Manulife Dynamic Term Fund or UTI Dynamic Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,16,246 in Mahindra Manulife Dynamic Term Fund (XIRR 6.3% a year) and ₹7,23,666 in UTI Dynamic Term Fund (XIRR 6.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mahindra Manulife Dynamic Term Fund and UTI Dynamic Term Fund?
Yes. 16.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Mahindra Manulife Dynamic Term Fund and UTI Dynamic Term Fund?
Mahindra Manulife Dynamic Term Fund: Rahul Pal, Kush Sonigara. UTI Dynamic Term Fund: Pankaj Pathak FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.