Mirae Asset Dynamic Term Fund vs UTI - Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Dynamic Term Fund is a Dynamic Bond fund and UTI - Gilt Fund is a Gilt fund. In the 3 years to 30-10-2026, Mirae Asset Dynamic Term Fund (Direct) returned 6.4% a year and UTI - Gilt Fund (Direct) returned 6.3% a year. Mirae Asset Dynamic Term Fund charges 0.17% a year and UTI - Gilt Fund 0.47% (Direct plans). Their portfolios overlap 28.6%: they hold 3 of the same securities.
Mirae Asset Dynamic Term Fund
Dynamic Bond
- 3 year return
- 6.4%
- Expense ratio
- 0.17%
- NAV
- ₹18.53
Which is better, Mirae Asset Dynamic Term or UTI - Gilt? 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 Dynamic Term returned more over 5 years: 5.5% a year against 5.4%.
- Mirae Asset Dynamic Term returned more over 3 years: 6.4% a year against 6.3%.
- Mirae Asset Dynamic Term costs less: 0.17% a year against 0.47% (Direct plans).
- Mirae Asset Dynamic Term swung less over 3 years: a standard deviation of 1.0% a year against 2.6%.
- Mirae Asset Dynamic Term fell less in its worst fall since 27-03-2017: −3.5% against −3.7%.
- UTI - Gilt is the larger fund: ₹415 Cr against ₹114 Cr.
- Their portfolios overlap 28.6%: 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 | Mirae Asset Dynamic Term Fund | UTI - Gilt Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | UTI Mutual Fund |
| Category | Dynamic Bond | Gilt |
| AUM | ₹114 Cr (30-09-2026) | ₹415 Cr (30-09-2026) |
| NAV | ₹18.53 (Direct) | ₹67.32 (Direct) |
| Expense ratio (Direct) | 0.17% | 0.47% |
| Expense ratio (Regular) | 1.00% | 0.85% |
| Riskometer | Not available | Moderate |
| Benchmark | Not available | CRISIL Dynamic Gilt Index |
| Launch date | Not available | 21-01-2002 |
| Minimum investment | Not available | Regular Plan-Growth- Rs.500, Regular Plan-Reinvestment of IDCW- Rs.20000, Regular Plan-Payout of IDCW- Rs.20000, Direct Plan-Growth- Rs.500, Direct Plan-Reinvestment of IDCW- Rs.20000, Direct Plan-Payout of IDCW- Rs.20000, |
| Lock in | Not available | None |
| Fund managers | Not available | Pankaj Pathak FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Not available | Nil |
Mirae Asset Dynamic Term vs UTI - Gilt: 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 Dynamic Term Fund (Direct) | −0.94% | −1.47% | −0.16% | +2.56% | +6.37% | +5.50% | -- |
| UTI - Gilt Fund (Direct) | −1.12% | −1.53% | +0.15% | +3.11% | +6.31% | +5.41% | +6.72% |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | +5.98% | -- |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 22 Dynamic Bond funds and the 28 Gilt funds, same plan type.
Mirae Asset Dynamic Term vs UTI - Gilt: Year-wise Returns
| Year | Mirae Asset Dynamic TermMirae Asset Dynamic Term | UTI - GiltUTI - Gilt |
|---|---|---|
| 2026to date | +1.63% | +2.33% |
| 2025 | +7.96% | +5.35% |
| 2024 | +8.05% | +9.20% |
| 2023 | +6.77% | +6.96% |
| 2022 | +2.34% | +3.23% |
| 2021 | +3.42% | +2.56% |
Mirae Asset Dynamic Term vs UTI - Gilt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,596 of them, one for each trading day from 27-03-2020 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 Dynamic Term Fund (Direct)
UTI - Gilt Fund (Direct)
to
Oct 2020Nov 2018
to
Nov 2021Jan 2020
to
Jan 2023Feb 2021
to
Feb 2024Mar 2022
to
Mar 2025Apr 2023
to
Apr 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 Dynamic Term | 0.0 | 19.8 | 77.3 | 2.9 | 0.0 | 0.0 | 0.0 | 7.0% | 7.3% | 3.7% | 10.3% |
| UTI - Gilt | 0.0 | 15.4 | 84.6 | 0.0 | 0.0 | 0.0 | 0.0 | 6.9% | 7.0% | 3.6% | 9.9% |
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 27-03-2017. Past returns do not promise future returns.
Mirae Asset Dynamic Term vs UTI - Gilt: 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 27-03-2017 to 30-10-2026: 116 instalments, ₹11,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Dynamic TermMirae Asset Dynamic Term Fund (Direct) | ₹11,60,000 | ₹15,72,466 | ₹4,12,466 | 6.1% |
| UTI - GiltUTI - Gilt Fund (Direct) | ₹11,60,000 | ₹15,59,153 | ₹3,99,153 | 6.0% |
Mirae Asset Dynamic TermMirae Asset Dynamic Term Fund (Direct)
UTI - GiltUTI - Gilt 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 Dynamic Term vs UTI - Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Dynamic Term Fund (Direct) | UTI - Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.56% | +3.11% |
| Standard deviation | 1.45% | 2.46% |
| Sharpe ratio | -1.85 | -0.87 |
| Sortino ratio | -2.15 | -1.18 |
| Maximum drawdown | −2.6% (23-10-2026) | −2.6% (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 Dynamic Term Fund (Direct) | UTI - Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.37% | +6.31% |
| Standard deviation | 1.01% | 2.63% |
| Sharpe ratio | 0.35 | 0.11 |
| Sortino ratio | 0.45 | 0.15 |
| Maximum drawdown | −2.6% (23-10-2026) | −3.2% (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 | Mirae Asset Dynamic Term Fund (Direct) | UTI - Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.50% | +5.41% |
| Standard deviation | 1.46% | 2.25% |
| Sharpe ratio | -0.21 | -0.17 |
| Sortino ratio | -0.25 | -0.24 |
| Maximum drawdown | −3.5% (07-06-2022) | −3.2% (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 | Mirae Asset Dynamic Term Fund (Direct) | UTI - Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.58% | +7.78% |
| Standard deviation | 2.22% | 3.70% |
| Sharpe ratio | 0.55 | 0.47 |
| Sortino ratio | 0.81 | 0.69 |
| Maximum drawdown | −3.5% (07-06-2022) | −8.1% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 27-03-2017 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 Dynamic Term Fund (Direct)
UTI - Gilt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Dynamic Term Fund (Direct) | −3.5% | 05-04-2022 | 07-06-2022 | 13-09-2022 | 3 months | −2.3% |
| UTI - Gilt Fund (Direct) | −3.7% | 06-09-2017 | 22-02-2018 | 05-04-2018 | 42 days | −2.1% |
From daily values since 27-03-2017, 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 Dynamic Term Fund (Direct)
UTI - Gilt 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 Dynamic Term Fund (Direct)
UTI - Gilt 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 Dynamic Term Fund (Direct)
UTI - Gilt Fund (Direct)
Mirae Asset Dynamic Term vs UTI - Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Dynamic Term Fund, September 2026; UTI - Gilt Fund, September 2026
Holdings in common
- Overlap
- 28.6%
- Held by both
- 3
- Only in Mirae Asset Dynamic Term
- 7
- Only in UTI - Gilt
- 5
| Security | % of Mirae Asset Dynamic Term | % of UTI - Gilt |
|---|---|---|
| 6.90% Government of India (MD 15/04/2065) | 15.69% | 51.89% |
| 7.71% Government of India (MD 18/05/2066) | 8.74% | 12.05% |
| 7.24% Government of India (MD 18/08/2055) | 4.15% | 9.15% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.6% means 28.6% 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 Mirae Asset Dynamic Term Fund
| Security | % of fund |
|---|---|
| 6.94% Government of India (MD 11/05/2036) | 21.50% |
| 7.06% Government of India (MD 27/07/2041) | 12.75% |
| 7.01% National Bank for Agriculture and Rural Development (MD 16/03/2029) | 8.58% |
| 7.12% Export-Import Bank of India (MD 27/06/2030) | 8.58% |
| 7.53% Bajaj Housing Finance Ltd. (MD 28/09/2029) | 8.58% |
Largest holdings only in UTI - Gilt Fund
| Security | % of fund |
|---|---|
| 6.79% NI GSEC MAT 15/05/2027 | 6.05% |
| 7.18% TN SDL 26/07/2027 | 3.64% |
| 07.30% UTTARAKHAND SGS Mat - 01/10/2032 | 2.03% |
| 7.77% ANDHRA PRADESH SGS - 10/01/2028 | 1.22% |
| 364 DAYS T-BILL - 04/03/2027 | 0.38% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Dynamic Term | UTI - Gilt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.5% | 86.4% |
| Cash and others | 4.5% | 13.6% |
Mirae Asset Dynamic Term vs UTI - Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Dynamic Term Fund | UTI - Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.17% | 0.47% |
| Base expense ratio (Direct) | 0.14% | 0.38% |
| Total expense ratio (Regular) | 1.00% | 0.85% |
| Base expense ratio (Regular) | 0.84% | 0.72% |
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 Dynamic Term with
Mirae Asset Dynamic Term Fund vs UTI - Gilt Fund: Frequently Asked Questions
What is the difference between Mirae Asset Dynamic Term Fund and UTI - Gilt Fund?
Mirae Asset Dynamic Term Fund is a Dynamic Bond fund, UTI - Gilt Fund is a Gilt fund, run by Mirae Asset Mutual Fund and UTI Mutual Fund. Their portfolios overlap 28.6%. Mirae Asset Dynamic Term Fund charges 0.17% a year and UTI - Gilt Fund 0.47%.
Which has given higher returns, Mirae Asset Dynamic Term Fund or UTI - Gilt Fund?
Over 1 year: Mirae Asset Dynamic Term Fund +2.56%, UTI - Gilt Fund +3.11%. Over 3 years: Mirae Asset Dynamic Term Fund +6.37% a year, UTI - Gilt Fund +6.31% a year. Over 5 years: Mirae Asset Dynamic Term Fund +5.50% a year, UTI - Gilt Fund +5.41% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Dynamic Term Fund or UTI - Gilt Fund?
Mirae Asset Dynamic Term Fund charges less: 0.17% a year against 0.47%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Dynamic Term Fund and UTI - Gilt Fund overlap?
28.6%. They hold 3 of the same securities, the largest shared ones being 6.90% Government of India (MD 15/04/2065), 7.71% Government of India (MD 18/05/2066), 7.24% Government of India (MD 18/08/2055). From each fund's latest monthly portfolio.
Which is better for SIP, Mirae Asset Dynamic Term Fund or UTI - Gilt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,05,144 in Mirae Asset Dynamic Term Fund (XIRR 5.7% a year) and ₹7,00,912 in UTI - Gilt Fund (XIRR 5.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Dynamic Term Fund and UTI - Gilt Fund?
Yes. 28.6% 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.