Mahindra Manulife Dynamic Term Fund

Dynamic BondDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Mahindra Manulife Dynamic Term Fund is a Dynamic Bond fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹47 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.3% a year and its Regular plan returned 6.0% a year.

NAV (Direct plan): ₹16.25; ▼ 0.01%30-10-2026
NAV (Regular plan): ₹14.82; ▼ 0.01%30-10-2026
Expense ratio: 0.42%Direct1.59%Regular; 0.42%; A year
Riskometer: Moderately High; Set by the fund house
3 year return: 7.3%Direct6.0%Regular; 7.3%; A year

Mahindra Manulife Dynamic Term Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹16.25 (down 0.01% that day); Regular Plan Growth ₹14.82 (down 0.01% that day).

This fund (Direct plan)

₹16.2547

Mahindra Manulife Dynamic Term Fund Returns vs Dynamic Bond 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)	−0.66%	−0.65%	+2.02%	+3.44%	+7.25%	+5.83%	--
This fund (Regular)	−0.75%	−0.94%	+1.43%	+2.25%	+6.00%	+4.63%	--
Dynamic Bond average	−0.48%	−0.66%	+1.80%	+3.05%	+6.70%	+5.98%	--
Best in Dynamic Bond	+0.28%	+0.95%	+4.47%	+6.90%	+8.03%	+7.47%	--
Worst in Dynamic Bond	−1.14%	−1.96%	−0.44%	−0.31%	+4.74%	+3.96%	--
Rank in Dynamic Bond	15/22	11/22	8/22	9/22	7/22	13/20	--

Category rows compare the Direct plans of 22 Dynamic Bond funds. Rank 1 is the highest return. This fund's benchmark is CRISIL Dynamic Bond A-III Index. Returns of that index are not available to us, so the category average is the comparison.

Mahindra Manulife Dynamic Term Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+3.00%	+2.02%
2025	+7.23%	+5.97%
2024	+9.63%	+8.33%
2023	+7.06%	+5.88%
2022	+1.96%	+0.86%
2021	+3.55%	+2.43%

Mahindra Manulife Dynamic 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 1,257 periods, one for each trading day from 24-08-2021 to 30-10-2026.

0%2%4%6%8%10%

Jan 2019
to
Jan 2022Dec 2019
to
Dec 2022Oct 2020
to
Oct 2023Sept 2021
to
Sept 2024Aug 2022
to
Aug 2025May 2023
to
May 2026

Mahindra Manulife Dynamic Term Fund (Direct)Category average, 22 Dynamic Bond funds

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	1,739	6.9%	−0.4%	11.8%	1%	7.1%	35%
2 years	1,499	6.6%	2.3%	9.4%	0%	7.2%	28%
3 years	1,257	5.8%	3.6%	8.8%	0%	6.7%	27%
5 years	770	5.8%	5.5%	6.4%	0%	6.8%	0%
7 years	286	6.2%	5.8%	6.6%	0%	7.0%	0%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	87	6.6%	−1.8%	12.3%	2%	6.7%	33%
2 years	75	6.0%	0.9%	10.6%	0%	6.6%	35%
3 years	63	6.1%	2.5%	9.7%	0%	6.6%	27%
5 years	39	6.5%	4.6%	7.7%	0%	6.9%	33%

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 22 Dynamic Bond funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

Mahindra Manulife Dynamic Term Fund Risk

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

Risk and return

Measure	Mahindra Manulife Dynamic Term Fund (Direct)This fund	Category average
Return (CAGR)	+3.44%	+3.05%
Standard deviation	2.00%	1.89%
Sharpe ratio	-0.90	-1.17
Sortino ratio	-1.22	-1.57
Maximum drawdown	−1.8% (23-10-2026)	−1.6% (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	Mahindra Manulife Dynamic Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.25%	+6.70%
Standard deviation	1.97%	1.95%
Sharpe ratio	0.63	0.35
Sortino ratio	0.89	0.49
Maximum drawdown	−1.8% (23-10-2026)	−1.7% (26-08-2025)

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	Mahindra Manulife Dynamic Term Fund (Direct)This fund	Category average
Return (CAGR)	+5.83%	+5.96%
Standard deviation	1.92%	1.77%
Sharpe ratio	0.01	0.09
Sortino ratio	0.02	0.13
Maximum drawdown	−2.3% (09-05-2022)	−1.7% (26-08-2025)

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	Mahindra Manulife Dynamic Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.09%	+6.89%
Standard deviation	1.79%	2.11%
Sharpe ratio	0.46	0.77
Sortino ratio	0.67	1.13
Maximum drawdown	−2.3% (09-05-2022)	−2.7% (19-03-2020)

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.

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.

−3%−2.5%−2%−1.5%−1%−0.5%0%

20192020202120222023202420252026

Mahindra Manulife Dynamic Term Fund (Direct)Category average, 22 Dynamic Bond funds

	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%
Category average	−2.7%	09-03-2020	19-03-2020	20-04-2020	32 days	−1.4%

From the Direct plan's daily NAV since 24-08-2018, adjusted for unit splits, and the average of the 22 Dynamic Bond 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.

Mahindra Manulife Dynamic Term Fund vs Other Dynamic Bond Funds

The five Dynamic Bond 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
Bandhan Dynamic Term Fund	1/22	1,910	0.79%	+6.90%	+8.03%	--	--	0.61	0.88	Compare
360 ONE Dynamic Term Fund	2/22	549	0.34%	+3.58%	+7.74%	--	--	1.01	1.44	Compare
Kotak Dynamic Term Fund	3/22	2,219	0.61%	+4.69%	+7.68%	--	--	0.69	0.97	Compare
Aditya Birla Sun Life Dynamic Term Fund	4/22	1,370	0.64%	+4.53%	+7.59%	--	--	0.78	1.12	Compare
SBI Dynamic Term Fund	5/22	3,502	0.64%	+5.03%	+7.43%	--	--	0.72	1.05	Compare
Mahindra Manulife Dynamic Term Fund	7/22	47	0.42%	+3.44%	+7.25%	--	--	0.63	0.89

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.

Mahindra Manulife Dynamic Term Fund Expense Ratio and Costs

What each plan charges a year, in force from 23-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Dynamic Bond median	Cost rank (1 = cheapest)
Direct	0.35%	0.00%	0.01%	0.06%	0.42%	0.52%	7/22
Regular	1.35%	0.00%	0.01%	0.23%	1.59%	1.30%	18/22

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Dynamic Bond 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	2.25%	3.44%	1.19%	₹1,02,250	₹1,03,440
3 years	6.00%	7.25%	1.25% a year	₹1,19,102	₹1,23,365
5 years	4.63%	5.83%	1.20% a year	₹1,25,395	₹1,32,753

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.

Mahindra Manulife Dynamic 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 24-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planMahindra Manulife Dynamic Term Fund (Direct)	₹9,90,000	₹12,72,063	₹2,82,063	6.0%
Regular planMahindra Manulife Dynamic Term Fund (Regular)	₹9,90,000	₹12,09,052	₹2,19,052	4.8%
Category averageCategory average, 22 Dynamic Bond funds	₹9,90,000	₹12,85,464	₹2,95,464	6.2%

₹0₹5.0 L₹10.0 L₹15.0 L

20192020202120222023202420252026

Direct planMahindra Manulife Dynamic Term Fund (Direct)Regular planMahindra Manulife Dynamic Term Fund (Regular)Category averageCategory average, 22 Dynamic Bond 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.

Mahindra Manulife Dynamic Term Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

88.4%Debt

Asset	Fund	Category
Debt	88.4%	78.5%
Cash and others	11.6%	21.5%

Credit rating

Bonds and money market papers by credit rating, % of the fund. Category: the average of 22 Dynamic Bond funds.

Rating	Fund	Category
Sovereign	36.0%	41.1%
AAA and A1+	27.0%	29.6%
AA	25.4%	7.6%

Mahindra Manulife Dynamic Term Fund Portfolio Holdings

As on 30-09-2026 · 14 holdings · from the fund house's monthly portfolio

Holdings	Sector / Rating	Weight%
7.71% Government of India 2066 · Government security	SOVEREIGN	15.86%
7.25% State Government Securities 2037 · State government security	SOVEREIGN	10.10%
7.24% Government of India 2055 · Government security	SOVEREIGN	10.04%
7.29% Small Industries Dev Bank of India 2029 · Bond	CRISIL AAA	8.33%
7.01% National Bank For Agriculture and Rural Development 2029 · Bond	CRISIL AAA	8.31%
8.55% Aditya Birla Real Estate Limited 2029 · Bond	CRISIL AA	6.31%
8.02% Cholamandalam Investment and Finance Company Ltd 2029 (FRN) · Bond	ICRA AA+	5.29%
8.42% Muthoot Finance Limited 2029 (FRN) · Bond	CRISIL AA+	5.28%
7.79% Bajaj Housing Finance Limited 2031 · Bond	CRISIL AAA	5.19%
7.29% National Housing Bank 2031 · Bond	CARE AAA	5.19%
9.30% TVS Credit Services Limited 2029 · Bond	ICRA AA+	4.30%
9.61% 360 One Prime Limited 2027 · Bond	CRISIL AA	4.24%
Raajmarg Infra Investment Trust	Transport Infrastructure	3.52%
Corporate Debt Market Development Fund Class A2		0.61%

Mahindra Manulife Dynamic Term Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
Invesco India Gilt FundGilt · Invesco	25.9%	2	Compare
Union Gilt FundGilt · Union	25.9%	2	Compare
Mahindra Manulife Short Term FundShort Duration · Mahindra Manulife	23.7%	7	Compare
Quantum Dynamic Term FundDynamic Bond · Quantum	22.5%	3	Compare
Aditya Birla Sun Life Long Term FundLong Duration · Aditya Birla Sun Life	21.8%	3	Compare
Mirae Asset Dynamic Term FundDynamic Bond · Mirae Asset	21.8%	4	Compare
UTI - Gilt FundGilt · UTI	21.2%	2	Compare
UTI Dynamic Term FundDynamic Bond · UTI	16.6%	3	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.

Mahindra Manulife Dynamic Term Fund Overview

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

Expense ratio (Direct): 0.42%
Expense ratio (Regular): 1.59%
Category: Dynamic Bond
Risk: Moderately High
Benchmark: CRISIL Dynamic Bond A-III Index
Launch date: 20-08-2018
Minimum investment: ₹1,000
Minimum additional investment: ₹1,000
AUM: ₹47.27 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 144403
ISIN (Direct): INF174V01580
Scheme code (Regular): 144401
ISIN (Regular): INF174V01531
NAV history: From 24-08-2018, 8.2 years

Exit load: Nil

Tax on Mahindra Manulife Dynamic Term Fund returns

Mahindra Manulife Dynamic 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	₹16.2547	30-10-2026
direct	IDCW Discretionary	₹12.7999	30-10-2026
direct	Quarterly IDCW	₹11.3731	30-10-2026
regular	Growth	₹14.8205	30-10-2026
regular	IDCW Discretionary	₹11.4863	30-10-2026
regular	Quarterly IDCW	₹10.1535	30-10-2026

About Mahindra Manulife Dynamic Term Fund

Mahindra Manulife Dynamic Term Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Dynamic Bond. It was launched on 20-08-2018. Its benchmark is CRISIL Dynamic Bond A-III Index. At the end of September 2026 it held 14 securities.

Fund Manager

Rahul Pal
Fund manager of Mahindra Manulife Dynamic Term Fund, since 20-08-2018
Kush Sonigara
Fund manager of Mahindra Manulife Dynamic Term Fund, since 01-01-2026

See all funds of Mahindra Manulife Mutual Fund

AUM change

September 2026: ₹47.27 Cr; −3.88% from August 2026
August 2026: ₹49.18 Cr; −8.60% from July 2026
July 2026: ₹53.81 Cr; −4.42% from June 2026

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

Compare Mahindra Manulife Dynamic Term Fund with Other Funds

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

Mahindra Manulife Dynamic Term vs Bandhan Dynamic TermDynamic Bond
Mahindra Manulife Dynamic Term vs 360 ONE Dynamic TermDynamic Bond
Mahindra Manulife Dynamic Term vs Kotak Dynamic TermDynamic Bond
Mahindra Manulife Dynamic Term vs Aditya Birla Sun Life Dynamic TermDynamic Bond
Mahindra Manulife Dynamic Term vs SBI Dynamic TermDynamic Bond
Mahindra Manulife Dynamic Term vs Invesco India Gilt25.9% overlap
Mahindra Manulife Dynamic Term vs Union Gilt25.9% overlap
Mahindra Manulife Dynamic Term vs Mahindra Manulife Short Term23.7% overlap

Compare with any other fund

Frequently Asked Questions for Mahindra Manulife Dynamic Term Fund

What is the current NAV of Mahindra Manulife Dynamic Term Fund?

The Direct plan NAV is ₹16.2547. The Regular plan NAV is ₹14.8205, as on 30-10-2026.

What are the returns of Mahindra Manulife Dynamic Term Fund?

The Direct plan returned +3.44% in 1 year, +7.25% a year over 3 years, +5.83% a year over 5 years. The Regular plan returned +2.25% in 1 year, +6.00% a year over 3 years, +4.63% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of Mahindra Manulife Dynamic Term Fund?

The Direct plan charges 0.42% a year. The Regular plan charges 1.59% a year. This is the figure the fund house reported to AMFI, in force from 23-10-2026.

What is the AUM of Mahindra Manulife Dynamic Term Fund?

Mahindra Manulife Dynamic Term Fund managed ₹47.27 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Mahindra Manulife Dynamic Term Fund?

At the end of September 2026 the largest holdings were 7.71% Government of India 2066 (15.86%), 7.25% State Government Securities 2037 (10.10%), 7.24% Government of India 2055 (10.04%), 7.29% Small Industries Dev Bank of India 2029 (8.33%), 7.01% National Bank For Agriculture and Rural Development 2029 (8.31%). The fund held 14 securities in all.

How do I invest in Mahindra Manulife Dynamic Term Fund?

Through Mahindra Manulife 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 ₹1,000. You can invest once or through a monthly SIP.

Who is the fund manager of Mahindra Manulife Dynamic Term Fund?

Rahul Pal (since 20-08-2018), Kush Sonigara (since 01-01-2026).

What is the exit load of Mahindra Manulife Dynamic 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.