Mirae Asset Liquid Fund vs TRUSTMF Liquid Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Liquid Fund and TRUSTMF Liquid Fund are both Liquid funds. In the 3 years to 30-10-2026, Mirae Asset Liquid Fund (Direct) returned 6.9% a year and TRUSTMF Liquid Fund (Direct) returned 6.8% a year. Mirae Asset Liquid Fund charges 0.09% a year and TRUSTMF Liquid Fund 0.10% (Direct plans). Their portfolios overlap 15.5%: they hold 11 of the same securities.
Mirae Asset Liquid Fund
Liquid
- 3 year return
- 6.9%
- Expense ratio
- 0.09%
- NAV
- ₹3,020.32
Which is better, Mirae Asset Liquid or TRUSTMF Liquid? 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 Liquid returned more over 5 years: 6.4% a year against 6.4%.
- Mirae Asset Liquid returned more over 3 years: 6.9% a year against 6.8%.
- Mirae Asset Liquid costs less: 0.09% a year against 0.10% (Direct plans).
- Mirae Asset Liquid swung less over 3 years: a standard deviation of 0.1% a year against 0.2%.
- TRUSTMF Liquid fell less in its worst fall since 25-04-2021: −0.0% against −0.0%.
- Mirae Asset Liquid is the larger fund: ₹14,887 Cr against ₹748 Cr.
- Their portfolios overlap 15.5%: 11 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 Liquid Fund | TRUSTMF Liquid Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Trust Mutual Fund |
| Category | Liquid | Liquid |
| AUM | ₹14,887 Cr (30-09-2026) | ₹748 Cr (30-09-2026) |
| NAV | ₹3,020.32 (Direct) | ₹1,385.01 (Direct) |
| Expense ratio (Direct) | 0.09% | 0.10% |
| Expense ratio (Regular) | 0.20% | 0.25% |
| 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 Liquid vs TRUSTMF Liquid: 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 Liquid Fund (Direct) | +0.44% | +1.50% | +3.13% | +6.38% | +6.88% | +6.41% | +6.10% |
| TRUSTMF Liquid Fund (Direct) | +0.46% | +1.52% | +3.18% | +6.41% | +6.84% | +6.37% | -- |
| Liquid average | +0.44% | +1.46% | +3.06% | +6.23% | +6.66% | +6.18% | -- |
Category average: the average of the 44 Liquid funds, same plan type.
Mirae Asset Liquid vs TRUSTMF Liquid: Year-wise Returns
| Year | Mirae AssetMirae Asset Liquid | TRUSTMFTRUSTMF Liquid |
|---|---|---|
| 2026to date | +5.31% | +5.35% |
| 2025 | +6.60% | +6.54% |
| 2024 | +7.46% | +7.36% |
| 2023 | +7.13% | +7.12% |
| 2022 | +4.93% | +4.89% |
| 2021 | +3.40% | -- |
Mirae Asset Liquid vs TRUSTMF Liquid: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 914 of them, one for each trading day from 25-04-2024 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 Liquid Fund (Direct)
TRUSTMF Liquid Fund (Direct)
to
Jul 2024Dec 2021
to
Dec 2024May 2022
to
May 2025Oct 2022
to
Oct 2025Mar 2023
to
Mar 2026Aug 2023
to
Aug 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 Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 7.0% | 5.6% | 7.1% |
| TRUSTMF Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.9% | 5.6% | 7.1% |
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 25-04-2021. Past returns do not promise future returns.
Mirae Asset Liquid vs TRUSTMF Liquid: 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 04-04-2021 to 30-10-2026: 67 instalments, ₹6,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset LiquidMirae Asset Liquid Fund (Direct) | ₹6,70,000 | ₹8,07,299 | ₹1,37,299 | 6.6% |
| TRUSTMF LiquidTRUSTMF Liquid Fund (Direct) | ₹6,70,000 | ₹8,06,551 | ₹1,36,551 | 6.6% |
Mirae Asset LiquidMirae Asset Liquid Fund (Direct)
TRUSTMF LiquidTRUSTMF Liquid 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 Liquid vs TRUSTMF Liquid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Liquid Fund (Direct) | TRUSTMF Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.38% | +6.41% |
| Standard deviation | 0.18% | 0.18% |
| Sharpe ratio | 6.25 | 6.48 |
| Sortino ratio | 14.51 | 20.20 |
| Maximum drawdown | −0.0% (07-07-2026) | −0.0% (07-07-2026) |
| 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 Liquid Fund (Direct) | TRUSTMF Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.88% | +6.84% |
| Standard deviation | 0.14% | 0.15% |
| Sharpe ratio | 6.21 | 5.28 |
| Sortino ratio | 15.52 | 16.44 |
| Maximum drawdown | −0.0% (07-07-2026) | −0.0% (07-07-2026) |
| 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 Liquid Fund (Direct) | TRUSTMF Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.41% | +6.37% |
| Standard deviation | 0.15% | 0.16% |
| Sharpe ratio | 4.17 | 3.64 |
| Sortino ratio | 9.44 | 9.02 |
| Maximum drawdown | −0.0% (07-07-2026) | −0.0% (04-05-2022) |
| 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 Liquid Fund (Direct) | TRUSTMF Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.70% | +6.08% |
| Standard deviation | 0.20% | 0.16% |
| Sharpe ratio | 3.19 | 3.30 |
| Sortino ratio | 7.90 | 7.66 |
| Maximum drawdown | −0.2% (24-03-2020) | −0.0% (04-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 07-01-2013 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.
Mirae Asset Liquid Fund (Direct)
TRUSTMF Liquid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Liquid Fund (Direct) | −0.0% | 05-07-2026 | 07-07-2026 | 09-07-2026 | 2 days | 0.0% |
| TRUSTMF Liquid Fund (Direct) | −0.0% | 03-05-2022 | 04-05-2022 | 06-05-2022 | 2 days | 0.0% |
From daily values since 25-04-2021, 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 Liquid Fund (Direct)
TRUSTMF Liquid 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 Liquid Fund (Direct)
TRUSTMF Liquid 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 Liquid Fund (Direct)
TRUSTMF Liquid Fund (Direct)
Mirae Asset Liquid vs TRUSTMF Liquid: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Liquid Fund, September 2026; TRUSTMF Liquid Fund, September 2026
Holdings in common
- Overlap
- 15.5%
- Held by both
- 11
- Only in Mirae Asset Liquid
- 113
- Only in TRUSTMF Liquid
- 18
| Security | % of Mirae Asset Liquid | % of TRUSTMF Liquid |
|---|---|---|
| Canara Bank (MD 04/12/2026) | 3.32% | 6.61% |
| Bank of Baroda (MD 06/11/2026) | 2.84% | 3.32% |
| 364 Days Treasury Bills (MD 19/11/2026) | 2.67% | 13.27% |
| 91 Days Treasury Bills (MD 29/10/2026) | 2.01% | 3.33% |
| 91 Days Treasury Bills (MD 19/11/2026) | 1.83% | 1.99% |
| Bank of Baroda (MD 11/11/2026) | 0.67% | 3.32% |
| Motilal Oswal Financial Services Ltd. (MD 11/11/2026) | 0.67% | 3.31% |
| Small Industries Development Bank of India (MD 04/12/2026) | 0.50% | 3.30% |
| 91 Days Treasury Bills (MD 03/12/2026) | 1.33% | 0.36% |
| Network18 Media & Investments Ltd. (MD 11/11/2026) | 0.33% | 3.32% |
| Corporate Debt Market Development Fund - Class A2 | 0.30% | 0.28% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.5% means 15.5% 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 Liquid Fund
| Security | % of fund |
|---|---|
| 91 Days Treasury Bills (MD 24/12/2026) | 3.98% |
| HDFC Bank Ltd. (MD 04/12/2026) | 3.49% |
| Small Industries Development Bank of India (MD 10/11/2026) | 3.34% |
| 91 Days Treasury Bills (MD 12/11/2026) | 2.67% |
| 182 Days Treasury Bills (MD 27/11/2026) | 2.66% |
Largest holdings only in TRUSTMF Liquid Fund
| Security | % of fund |
|---|---|
| Axis Bank Limited (15/10/2026) | 6.67% |
| Aditya Birla Money Limited (23/10/2026) | 6.66% |
| National Bank For Agriculture and Rural Development (09/11/2026) | 6.64% |
| Canara Bank (18/11/2026) | 6.63% |
| HDFC Bank Limited (13/11/2026) | 6.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Liquid | TRUSTMF Liquid |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 119.3% | 117.4% |
| Cash and others | -19.3% | -17.4% |
Mirae Asset Liquid vs TRUSTMF Liquid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Liquid Fund | TRUSTMF Liquid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.09% | 0.10% |
| Base expense ratio (Direct) | 0.08% | 0.09% |
| Total expense ratio (Regular) | 0.20% | 0.25% |
| Base expense ratio (Regular) | 0.17% | 0.22% |
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 Liquid with
Mirae Asset Liquid Fund vs TRUSTMF Liquid Fund: Frequently Asked Questions
What is the difference between Mirae Asset Liquid Fund and TRUSTMF Liquid Fund?
Both are Liquid funds, run by Mirae Asset Mutual Fund and Trust Mutual Fund. Their portfolios overlap 15.5%. Mirae Asset Liquid Fund charges 0.09% a year and TRUSTMF Liquid Fund 0.10%.
Which has given higher returns, Mirae Asset Liquid Fund or TRUSTMF Liquid Fund?
Over 1 year: Mirae Asset Liquid Fund +6.38%, TRUSTMF Liquid Fund +6.41%. Over 3 years: Mirae Asset Liquid Fund +6.88% a year, TRUSTMF Liquid Fund +6.84% a year. Over 5 years: Mirae Asset Liquid Fund +6.41% a year, TRUSTMF Liquid Fund +6.37% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Liquid Fund or TRUSTMF Liquid Fund?
Mirae Asset Liquid Fund charges less: 0.09% a year against 0.10%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Liquid Fund and TRUSTMF Liquid Fund overlap?
15.5%. They hold 11 of the same securities, the largest shared ones being Canara Bank (MD 04/12/2026), Bank of Baroda (MD 06/11/2026), 364 Days Treasury Bills (MD 19/11/2026). From each fund's latest monthly portfolio.
Which is better for SIP, Mirae Asset Liquid Fund or TRUSTMF Liquid Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,24,436 in Mirae Asset Liquid Fund (XIRR 6.7% a year) and ₹7,23,889 in TRUSTMF Liquid Fund (XIRR 6.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Liquid Fund and TRUSTMF Liquid Fund?
Yes. 15.5% 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.