Mirae Asset Banking and PSU Debt Fund vs Mirae Asset Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Banking and PSU Debt Fund is a Banking & PSU fund and Mirae Asset Short Term Fund is a Short Duration fund. In the 3 years to 30-10-2026, Mirae Asset Banking and PSU Debt Fund (Direct) returned 6.7% a year and Mirae Asset Short Term Fund (Direct) returned 7.1% a year. Mirae Asset Banking and PSU Debt Fund charges 0.37% a year and Mirae Asset Short Term Fund 0.26% (Direct plans). Their portfolios overlap 17.8%: they hold 9 of the same securities.
Mirae Asset Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 6.7%
- Expense ratio
- 0.37%
- NAV
- ₹13.99
Mirae Asset Short Term Fund
Short Duration
- 3 year return
- 7.1%
- Expense ratio
- 0.26%
- NAV
- ₹17.75
Which is better, Mirae Asset Banking and PSU Debt or Mirae Asset 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.
- Mirae Asset Short Term returned more over 5 years: 6.3% a year against 5.8%.
- Mirae Asset Short Term returned more over 3 years: 7.1% a year against 6.7%.
- Mirae Asset Short Term costs less: 0.26% a year against 0.37% (Direct plans).
- Mirae Asset Short Term swung less over 3 years: a standard deviation of 1.0% a year against 1.1%.
- Mirae Asset Short Term fell less in its worst fall since 27-07-2020: −0.9% against −1.2%.
- Mirae Asset Short Term is the larger fund: ₹512 Cr against ₹39 Cr.
- Their portfolios overlap 17.8%: 9 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 | Mirae Asset Banking and PSU Debt Fund | Mirae Asset Short Term Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Mirae Asset Mutual Fund |
| Category | Banking & PSU | Short Duration |
| AUM | ₹39 Cr (30-09-2026) | ₹512 Cr (30-09-2026) |
| NAV | ₹13.99 (Direct) | ₹17.75 (Direct) |
| Expense ratio (Direct) | 0.37% | 0.26% |
| Expense ratio (Regular) | 0.82% | 1.05% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Not available |
| Launch date | Not available | Not available |
| Minimum investment | Not available | Not available |
| Lock in | Not available | Not available |
| Fund managers | Not available | Not available |
| Exit load | Not available | Not available |
Mirae Asset Banking and PSU Debt vs Mirae Asset 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Banking and PSU Debt Fund (Direct) | −0.33% | 0.00% | +2.18% | +3.46% | +6.67% | +5.83% | -- |
| Mirae Asset Short Term Fund (Direct) | −0.34% | −0.08% | +2.26% | +3.82% | +7.08% | +6.30% | -- |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | -- |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | -- |
Category average: the average of the 19 Banking & PSU funds and the 25 Short Duration funds, same plan type.
Mirae Asset Banking and PSU Debt vs Mirae Asset Short Term: Year-wise Returns
| Year | Banking and PSU DebtMirae Asset Banking and PSU Debt | Short TermMirae Asset Short Term |
|---|---|---|
| 2026to date | +2.80% | +3.05% |
| 2025 | +7.39% | +8.28% |
| 2024 | +8.45% | +8.48% |
| 2023 | +6.79% | +7.20% |
| 2022 | +3.13% | +3.92% |
| 2021 | +3.84% | +3.97% |
Mirae Asset Banking and PSU Debt vs Mirae Asset Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 787 of them, one for each trading day from 27-07-2023 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.
Mirae Asset Banking and PSU Debt Fund (Direct)
Mirae Asset Short Term Fund (Direct)
to
Oct 2023May 2021
to
May 2024Dec 2021
to
Dec 2024Jun 2022
to
Jun 2025Jan 2023
to
Jan 2026Jul 2023
to
Jul 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Banking and PSU Debt | 0.0 | 15.8 | 84.2 | 0.0 | 0.0 | 0.0 | 0.0 | 6.3% | 6.4% | 4.4% | 8.0% |
| Mirae Asset Short Term | 0.0 | 8.3 | 91.7 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.9% | 4.8% | 8.3% |
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. Every fund is measured over the days all of them have, from 27-07-2020. Past returns do not promise future returns.
Mirae Asset Banking and PSU Debt vs Mirae Asset 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 27-07-2020 to 30-10-2026: 76 instalments, ₹7,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Banking and PSU DebtMirae Asset Banking and PSU Debt Fund (Direct) | ₹7,60,000 | ₹9,17,556 | ₹1,57,556 | 5.9% |
| Mirae Asset Short TermMirae Asset Short Term Fund (Direct) | ₹7,60,000 | ₹9,31,025 | ₹1,71,025 | 6.3% |
Mirae Asset Banking and PSU DebtMirae Asset Banking and PSU Debt Fund (Direct)
Mirae Asset Short TermMirae Asset 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.
Mirae Asset Banking and PSU Debt vs Mirae Asset Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Banking and PSU Debt Fund (Direct) | Mirae Asset Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.46% | +3.82% |
| Standard deviation | 1.29% | 1.27% |
| Sharpe ratio | -1.38 | -1.13 |
| Sortino ratio | -1.83 | -1.47 |
| Maximum drawdown | −0.7% (23-10-2026) | −0.8% (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 | Mirae Asset Banking and PSU Debt Fund (Direct) | Mirae Asset Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.67% | +7.08% |
| Standard deviation | 1.13% | 1.00% |
| Sharpe ratio | 0.57 | 1.05 |
| Sortino ratio | 0.83 | 1.53 |
| Maximum drawdown | −0.7% (23-10-2026) | −0.8% (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 | Mirae Asset Banking and PSU Debt Fund (Direct) | Mirae Asset Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.83% | +6.30% |
| Standard deviation | 1.05% | 0.93% |
| Sharpe ratio | 0.03 | 0.53 |
| Sortino ratio | 0.04 | 0.74 |
| Maximum drawdown | −1.2% (09-05-2022) | −0.9% (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 | Mirae Asset Banking and PSU Debt Fund (Direct) | Mirae Asset Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.51% | +6.85% |
| Standard deviation | 1.07% | 1.32% |
| Sharpe ratio | 0.22 | 1.17 |
| Sortino ratio | 0.31 | 1.90 |
| Maximum drawdown | −1.2% (09-05-2022) | −2.2% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 27-07-2020 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.
Mirae Asset Banking and PSU Debt Fund (Direct)
Mirae Asset Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Banking and PSU Debt Fund (Direct) | −1.2% | 05-04-2022 | 09-05-2022 | 01-08-2022 | 3 months | −0.6% |
| Mirae Asset Short Term Fund (Direct) | −0.9% | 07-04-2022 | 09-05-2022 | 06-07-2022 | 58 days | −0.7% |
From daily values since 27-07-2020, 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.
Mirae Asset Banking and PSU Debt Fund (Direct)
Mirae Asset 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.
Mirae Asset Banking and PSU Debt Fund (Direct)
Mirae Asset 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.
Mirae Asset Banking and PSU Debt Fund (Direct)
Mirae Asset Short Term Fund (Direct)
Mirae Asset Banking and PSU Debt vs Mirae Asset Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Banking and PSU Debt Fund, September 2026; Mirae Asset Short Term Fund, September 2026
Holdings in common
- Overlap
- 17.8%
- Held by both
- 9
- Only in Mirae Asset Banking and PSU Debt
- 16
- Only in Mirae Asset Short Term
- 32
| Security | % of Mirae Asset Banking and PSU Debt | % of Mirae Asset Short Term |
|---|---|---|
| 7.48% National Bank for Agriculture and Rural Development (MD 15/09/2028) | 5.12% | 5.63% |
| 6.94% Government of India (MD 11/05/2036) | 5.06% | 8.64% |
| 7.54% Knowledge Realty Trust (MD 08/05/2029) | 2.55% | 3.87% |
| 7.45% Export-Import Bank of India (MD 12/04/2028) | 1.28% | 7.80% |
| 7.56% India Infrastructure Finance Company Ltd. (MD 20/03/2028) | 2.57% | 0.97% |
| 7.42% Power Finance Corporation Ltd. (MD 15/04/2028) | 2.56% | 0.78% |
| 6.87% REC Ltd. (MD 31/05/2030) | 2.49% | 0.76% |
| 6.48% Government of India (MD 06/10/2035) | 2.46% | 0.67% |
| Corporate Debt Market Development Fund - Class A2 | 0.73% | 0.58% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.8% means 17.8% 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 Mirae Asset Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Ltd. (MD 12/02/2027) | 7.54% |
| 7.57% Indian Railway Finance Corporation Ltd. (MD 18/04/2029) | 5.14% |
| 7.23% Export-Import Bank of India (MD 18/03/2031) | 5.06% |
| Punjab National Bank (MD 05/02/2027) | 5.03% |
| 7.80% HDFC Bank Ltd. (MD 03/05/2033) | 4.32% |
Largest holdings only in Mirae Asset Short Term Fund
| Security | % of fund |
|---|---|
| 7.06% Government of India (MD 27/07/2041) | 6.64% |
| 8.00% Bajaj Finance Ltd. (MD 12/05/2031) | 4.82% |
| 7.53% Bajaj Housing Finance Ltd. (MD 28/09/2029) | 4.79% |
| 6.35% Larsen & Toubro Ltd. (MD 19/06/2028) | 4.78% |
| 7.30% REC Ltd. (MD 01/07/2031) | 4.78% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Banking and PSU Debt | Mirae Asset Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 84.9% | 95.8% |
| Cash and others | 15.1% | 4.2% |
Mirae Asset Banking and PSU Debt vs Mirae Asset Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Banking and PSU Debt Fund | Mirae Asset Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.37% | 0.26% |
| Base expense ratio (Direct) | 0.31% | 0.20% |
| Total expense ratio (Regular) | 0.82% | 1.05% |
| Base expense ratio (Regular) | 0.69% | 0.87% |
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 Mirae Asset Banking and PSU Debt with
- Mirae Asset Banking and PSU Debt vs UTI Banking & PSU Debt
- Mirae Asset Banking and PSU Debt vs Franklin India Banking & PSU Debt
- Mirae Asset Banking and PSU Debt vs LIC MF Banking & PSU Debt
- Mirae Asset Banking and PSU Debt vs SBI Banking & PSU Debt
- Mirae Asset Banking and PSU Debt vs Kotak Banking and PSU Debt
Mirae Asset Banking and PSU Debt Fund vs Mirae Asset Short Term Fund: Frequently Asked Questions
What is the difference between Mirae Asset Banking and PSU Debt Fund and Mirae Asset Short Term Fund?
Mirae Asset Banking and PSU Debt Fund is a Banking & PSU fund, Mirae Asset Short Term Fund is a Short Duration fund, run by Mirae Asset Mutual Fund. Their portfolios overlap 17.8%. Mirae Asset Banking and PSU Debt Fund charges 0.37% a year and Mirae Asset Short Term Fund 0.26%.
Which has given higher returns, Mirae Asset Banking and PSU Debt Fund or Mirae Asset Short Term Fund?
Over 1 year: Mirae Asset Banking and PSU Debt Fund +3.46%, Mirae Asset Short Term Fund +3.82%. Over 3 years: Mirae Asset Banking and PSU Debt Fund +6.67% a year, Mirae Asset Short Term Fund +7.08% a year. Over 5 years: Mirae Asset Banking and PSU Debt Fund +5.83% a year, Mirae Asset Short Term Fund +6.30% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Banking and PSU Debt Fund or Mirae Asset Short Term Fund?
Mirae Asset Short Term Fund charges less: 0.26% a year against 0.37%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Banking and PSU Debt Fund and Mirae Asset Short Term Fund overlap?
17.8%. They hold 9 of the same securities, the largest shared ones being 7.48% National Bank for Agriculture and Rural Development (MD 15/09/2028), 6.94% Government of India (MD 11/05/2036), 7.54% Knowledge Realty Trust (MD 08/05/2029). From each fund's latest monthly portfolio.
Which is better for SIP, Mirae Asset Banking and PSU Debt Fund or Mirae Asset Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,12,105 in Mirae Asset Banking and PSU Debt Fund (XIRR 6.0% a year) and ₹7,20,445 in Mirae Asset Short Term Fund (XIRR 6.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Banking and PSU Debt Fund and Mirae Asset Short Term Fund?
Yes. 17.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.