DSP Medium Term Fund

Medium DurationDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

DSP Medium Term Fund is a Medium Duration fund run by DSP Mutual Fund. On 30-09-2026, it managed ₹249 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 6.7% a year and its Regular plan returned 6.3% a year.

NAV (Direct plan): ₹91.45; ▼ 0.04%30-10-2026
NAV (Regular plan): ₹85.71; ▼ 0.04%30-10-2026
Expense ratio: 0.41%Direct0.74%Regular; 0.41%; A year
Riskometer: Moderate; Set by the fund house
3 year return: 6.7%Direct6.3%Regular; 6.7%; A year

DSP Medium Term Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹91.45 (down 0.04% that day); Regular Plan Growth ₹85.71 (down 0.04% that day).

This fund (Direct plan)

₹91.4456

DSP Medium Term Fund Returns vs Medium Duration Funds

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−0.61%	−1.06%	+1.62%	+2.91%	+6.69%	+5.96%	+5.84%
This fund (Regular)	−0.64%	−1.14%	+1.44%	+2.53%	+6.31%	+5.59%	+5.42%
Medium Duration average	−0.34%	−0.09%	+2.51%	+4.72%	+7.66%	+6.88%	+6.78%
Best in Medium Duration	+0.04%	+0.68%	+3.33%	+7.48%	+10.39%	+12.54%	+8.95%
Worst in Medium Duration	−0.61%	−1.06%	+1.34%	+2.45%	+5.74%	+4.74%	+3.51%
Rank in Medium Duration	13/13	13/13	12/13	12/13	11/13	9/12	8/11

Category rows compare the Direct plans of 13 Medium Duration funds. Rank 1 is the highest return. This fund's benchmark is CRISIL Medium Duration Debt A-III Index. Returns of that index are not available to us, so the category average is the comparison.

DSP Medium Term Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+2.38%	+2.08%
2025	+8.20%	+7.81%
2024	+7.99%	+7.61%
2023	+7.43%	+7.04%
2022	+3.25%	+2.90%
2021	+3.83%	+3.43%

DSP Medium Term Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 2,627 periods, one for each trading day from 04-01-2016 to 30-10-2026.

0%5%10%15%

Nov 2013
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025

DSP Medium Term Fund (Direct)Category average, 13 Medium Duration funds

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	3,103	7.1%	0.7%	17.1%	0%	7.7%	22%
2 years	2,868	7.3%	2.8%	12.8%	0%	7.8%	4%
3 years	2,627	6.1%	3.5%	12.8%	0%	7.5%	1%
5 years	2,142	6.4%	4.6%	9.3%	0%	7.4%	0%
7 years	1,657	6.3%	4.9%	8.4%	0%	7.4%	0%
10 years	928	6.7%	5.8%	7.3%	0%	7.8%	0%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	154	7.0%	−1.6%	20.5%	1%	7.8%	20%
2 years	142	7.0%	1.4%	14.3%	0%	7.7%	11%
3 years	130	6.5%	2.9%	13.5%	0%	7.4%	5%
5 years	106	6.2%	4.5%	9.0%	0%	7.4%	0%
7 years	82	6.3%	5.0%	7.4%	0%	7.4%	0%
10 years	46	6.2%	6.0%	6.8%	0%	7.4%	0%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat category" counts the periods in which the fund did better than the average of the 13 Medium Duration funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

DSP Medium Term Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	DSP Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+2.91%	+4.71%
Standard deviation	1.56%	1.39%
Sharpe ratio	-1.50	-0.38
Sortino ratio	-2.08	-0.54
Maximum drawdown	−1.5% (27-10-2026)	−0.87% (23-10-2026)

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.

Measure	DSP Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.69%	+7.66%
Standard deviation	1.22%	1.18%
Sharpe ratio	0.54	1.39
Sortino ratio	0.80	2.08
Maximum drawdown	−1.5% (27-10-2026)	−0.87% (23-10-2026)

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.

Measure	DSP Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+5.96%	+6.88%
Standard deviation	1.34%	1.43%
Sharpe ratio	0.12	0.76
Sortino ratio	0.16	1.14
Maximum drawdown	−1.8% (06-05-2022)	−1.8% (06-05-2022)

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.

Measure	DSP Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+5.84%	+7.03%
Standard deviation	2.66%	1.86%
Sharpe ratio	0.16	0.88
Sortino ratio	0.20	1.32
Maximum drawdown	−5.3% (10-06-2019)	−3.3% (23-03-2020)

From daily NAVs, 28-10-2016 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.

Measure	DSP Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.83%	+7.88%
Standard deviation	2.76%	2.03%
Sharpe ratio	0.28	0.90
Sortino ratio	0.35	1.29
Maximum drawdown	−5.4% (19-08-2013)	−5.0% (19-08-2013)

From daily NAVs, 02-01-2013 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.

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.

−6%−5%−4%−3%−2%−1%0%

2014201620182020202220242026

DSP Medium Term Fund (Direct)Category average, 13 Medium Duration funds

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
DSP Medium Term Fund (Direct)	−5.4%	27-05-2013	19-08-2013	22-04-2014	8 months	−1.4%
Category average	−5.0%	06-06-2013	19-08-2013	05-12-2013	4 months	−0.70%

From the Direct plan's daily NAV since 02-01-2013, adjusted for unit splits, and the average of the 13 Medium Duration funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

DSP Medium Term Fund vs Other Medium Duration Funds

The five Medium Duration funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Aditya Birla Sun Life Medium Term Fund	1/13	3,370	0.83%	+7.48%	+10.39%	--	--	1.90	5.02	Compare
Kotak Medium Term Fund	2/13	1,912	0.67%	+5.09%	+8.61%	--	--	1.80	2.67	Compare
Nippon India Medium Term Fund	3/13	146	0.50%	+4.94%	+8.23%	--	--	1.27	2.89	Compare
Axis Medium Term Fund	4/13	1,972	0.71%	+5.40%	+8.16%	--	--	1.81	2.72	Compare
ICICI Prudential Medium Term Fund	4/13	5,331	0.73%	+5.75%	+8.16%	--	--	1.74	2.56	Compare
DSP Medium Term Fund	11/13	249	0.41%	+2.91%	+6.69%	--	--	0.54	0.80

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

DSP Medium Term Fund Expense Ratio and Costs

What each plan charges a year, in force from 08-09-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Medium Duration median	Cost rank (1 = cheapest)
Direct	0.34%	0.01%	0.00%	0.06%	0.41%	0.70%	2/13
Regular	0.62%	0.01%	0.00%	0.11%	0.74%	1.32%	1/13

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Medium Duration funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	2.53%	2.91%	0.38%	₹1,02,530	₹1,02,910
3 years	6.31%	6.69%	0.38% a year	₹1,20,150	₹1,21,443
5 years	5.59%	5.96%	0.37% a year	₹1,31,254	₹1,33,570
10 years	5.42%	5.84%	0.42% a year	₹1,69,524	₹1,76,400

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

DSP Medium Term Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planDSP Medium Term Fund (Direct)	₹16,60,000	₹26,20,189	₹9,60,189	6.3%
Regular planDSP Medium Term Fund (Regular)	₹16,60,000	₹25,36,589	₹8,76,589	5.9%
Category averageCategory average, 13 Medium Duration funds	₹16,60,000	₹28,40,645	₹11,80,645	7.4%

₹0₹10.0 L₹20.0 L₹30.0 L

2014201620182020202220242026

Direct planDSP Medium Term Fund (Direct)Regular planDSP Medium Term Fund (Regular)Category averageCategory average, 13 Medium Duration fundsAmount invested

From each plan's published NAV (Growth option) and the category average, 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.

DSP Medium Term Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

98.0%Debt

Asset	Fund	Category
Debt	98.0%	82.7%
Cash and others	2.0%	17.3%

Credit rating

Bonds and money market papers by credit rating, % of the fund. Category: the average of 13 Medium Duration funds.

Rating	Fund	Category
Sovereign	80.3%	23.6%
AAA and A1+	17.7%	26.1%

DSP Medium Term Fund Portfolio Holdings

As on 30-09-2026 · 11 holdings · from the fund house's monthly portfolio

Holdings	Rating	Weight%
7.13% Haryana SDL 05012032 · State government security	Sovereign	13.99%
6.36% GOI 16022031 · Government security	Sovereign	13.91%
7.72% Maharashtra SDL 01032031 · State government security	Sovereign	10.22%
7.73% Maharashtra SDL 29032032 · State government security	Sovereign	10.12%
7.30% Karnataka SDL 09022032 · State government security	Sovereign	10.03%
6.83% Maharashtra SDL 23062031 · State government security	Sovereign	10.00%
7.17% Gujarat SDL 04022032 · State government security	Sovereign	9.98%
Indian Bank · Certificate of deposit	CRISIL A1+	9.81%
Bank of Baroda · Certificate of deposit	IND A1+	7.86%
7.32% GOI 13112030 · Government security	Sovereign	2.10%
SBI Funds Management Pvt Limited/Fund Parent		0.46%

DSP Medium Term Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
Sundaram Conservative Hybrid FundConservative Hybrid · Sundaram	14.4%	2	Compare
Nippon India ETF Nifty 5 yr Benchmark G-SecETF · Nippon India	13.9%	1	Compare
Motilal Oswal Nifty 5 year Benchmark G-Sec ETFETF · Motilal Oswal	13.9%	1	Compare
quant Gilt FundGilt · quant	13.9%	1	Compare
UTI Nifty 5 yr Benchmark G-Sec ETFETF · UTI	13.9%	1	Compare
ICICI Prudential Nifty 5 yr Benchmark G-SEC ETFETF · ICICI Prudential	13.9%	1	Compare
Zerodha Life Cycle Fund 2031Zerodha	13.9%	1	Compare
JM Medium to Long Term FundMedium to Long Duration · JM Financial	13.9%	2	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

DSP Medium Term Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.41%
Expense ratio (Regular): 0.74%
Category: Medium Duration
Risk: Moderate
Benchmark: CRISIL Medium Duration Debt A-III Index
Launch date: 29-04-1997
Minimum investment: ₹100
Minimum additional investment: ₹100
AUM: ₹248.75 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 118924
ISIN (Direct): INF740K01MZ3
Scheme code (Regular): 100078
ISIN (Regular): INF740K01557
NAV history: From 02-01-2013, 13.8 years

Exit load: Nil

Tax on DSP Medium Term Fund returns

DSP Medium Term Fund is taxed as a debt fund: 65% or more of it is in bonds and money market papers.
For units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold the units.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹91.4456	30-10-2026
direct	IDCW	₹11.6896	30-10-2026
direct	Monthly IDCW	₹11.156	30-10-2026
regular	Growth	₹85.7067	30-10-2026
regular	IDCW	₹11.5546	30-10-2026
regular	Monthly IDCW	₹11.0466	30-10-2026

About DSP Medium Term Fund

DSP Medium Term Fund is a mutual fund from DSP Mutual Fund. Its category is Medium Duration. It was launched on 29-04-1997. Its benchmark is CRISIL Medium Duration Debt A-III Index. At the end of September 2026 it held 11 securities.

Fund Manager

Vivek Ramakrishnan
Fund manager of DSP Medium Term Fund, since 17-07-2021
Karan Mundhra
Fund manager of DSP Medium Term Fund, since 01-05-2021

See all funds of DSP Mutual Fund

AUM change

September 2026: ₹248.75 Cr; −1.06% from August 2026
August 2026: ₹251.42 Cr; −1.14% from July 2026
July 2026: ₹254.33 Cr; +0.21% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare DSP Medium Term Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

DSP Medium Term vs Aditya Birla Sun Life Medium TermMedium Duration
DSP Medium Term vs Kotak Medium TermMedium Duration
DSP Medium Term vs Nippon India Medium TermMedium Duration
DSP Medium Term vs Axis Medium TermMedium Duration
DSP Medium Term vs ICICI Prudential Medium TermMedium Duration
DSP Medium Term vs Sundaram Conservative Hybrid14.4% overlap
DSP Medium Term vs Nippon India ETF Nifty 5 yr Benchmark G-Sec13.9% overlap
DSP Medium Term vs Motilal Oswal Nifty 5 year Benchmark G-Sec ETF13.9% overlap

Compare with any other fund

Frequently Asked Questions for DSP Medium Term Fund

What is the current NAV of DSP Medium Term Fund?

The Direct plan NAV is ₹91.4456. The Regular plan NAV is ₹85.7067, as on 30-10-2026.

What are the returns of DSP Medium Term Fund?

The Direct plan returned +2.91% in 1 year, +6.69% a year over 3 years, +5.96% a year over 5 years. The Regular plan returned +2.53% in 1 year, +6.31% a year over 3 years, +5.59% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of DSP Medium Term Fund?

The Direct plan charges 0.41% a year. The Regular plan charges 0.74% a year. This is the figure the fund house reported to AMFI, in force from 08-09-2026.

What is the AUM of DSP Medium Term Fund?

DSP Medium Term Fund managed ₹248.75 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of DSP Medium Term Fund?

At the end of September 2026 the largest holdings were 7.13% Haryana SDL 05012032 (13.99%), 6.36% GOI 16022031 (13.91%), 7.72% Maharashtra SDL 01032031 (10.22%), 7.73% Maharashtra SDL 29032032 (10.12%), 7.30% Karnataka SDL 09022032 (10.03%). The fund held 11 securities in all.

How do I invest in DSP Medium Term Fund?

Through DSP Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

Who is the fund manager of DSP Medium Term Fund?

Vivek Ramakrishnan (since 17-07-2021), Karan Mundhra (since 01-05-2021).

What is the exit load of DSP Medium Term Fund?

Nil

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.