Mirae Asset Banking and Financial Services Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Mirae Asset Banking and Financial Services Fund is a Thematic fund run by Mirae Asset Mutual Fund. On 30-09-2026, it managed ₹2,196 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 11.8% a year and its Regular plan returned 10.2% a year. Its benchmark, Nifty Financial Services TRI, returned 9.8% a year over the same 3 years.

NAV (Direct plan): ₹21.94; ▼ 0.35%30-10-2026
NAV (Regular plan): ₹20.03; ▼ 0.35%30-10-2026
Expense ratio: 0.80%Direct2.15%Regular; 0.80%; A year
Riskometer: Very High; Set by the fund house
3 year return: 11.8%Direct10.2%Regular; 11.8%; A year

Mirae Asset Banking and Financial Services Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹21.94 (down 0.35% that day); Regular Plan Growth ₹20.03 (down 0.35% that day).

This fund (Direct plan)

₹21.935

Mirae Asset Banking and Financial Services Fund Returns vs Nifty Financial Services TRI

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)	−1.35%	−5.99%	−2.61%	−5.17%	+11.77%	+10.56%	--
This fund (Regular)	−1.47%	−6.32%	−3.30%	−6.52%	+10.16%	+8.92%	--
Nifty Financial Services TRI	+0.30%	−5.63%	−2.88%	−8.88%	+9.77%	+6.64%	+12.73%
Thematic average	−2.09%	−4.52%	+0.86%	−1.22%	+13.76%	+11.62%	--
Best in Thematic	+11.54%	+11.27%	+22.16%	+75.71%	+54.78%	+21.14%	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	−22.44%	−4.46%	+3.65%	--
Rank in Thematic	81/235	137/232	150/232	126/215	77/133	52/96	--

Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

Mirae Asset Banking and Financial Services Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty Financial Services TRI
2026to date	−7.81%	−8.89%	−9.69%
2025	+20.99%	+19.26%	+18.60%
2024	+13.29%	+11.63%	+10.52%
2023	+22.79%	+20.96%	+14.31%
2022	+14.78%	+12.98%	+10.47%
2021	+19.26%	+17.14%	+14.55%

Mirae Asset Banking and Financial Services 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 708 periods, one for each trading day from 14-12-2023 to 30-10-2026.

0%5%10%15%20%25%30%

Mar 2021
to
Mar 2024Sept 2021
to
Sept 2024Feb 2022
to
Feb 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 2026

Mirae Asset Banking and Financial Services Fund (Direct)Nifty Financial Services TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	1,202	15.2%	−6.9%	36.5%	6%	12.5%	83%
2 years	954	16.8%	3.3%	33.3%	0%	12.9%	98%
3 years	708	17.4%	11.0%	26.2%	0%	12.4%	100%
5 years	215	14.6%	9.5%	19.1%	0%	10.8%	100%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	59	16.7%	−15.1%	35.9%	15%	11.8%	86%
2 years	47	17.7%	1.9%	30.8%	0%	13.4%	83%
3 years	35	18.5%	6.0%	24.6%	0%	14.2%	100%

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 benchmark" counts the periods in which the fund did better than Nifty Financial Services TRI over the same days. Past returns do not promise future returns.

Mirae Asset Banking and Financial Services Fund Risk

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

Risk and return

Measure	Mirae Asset Banking and Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	−5.17%	−8.88%
Standard deviation	16.28%	17.58%
Sharpe ratio	-0.64	-0.80
Sortino ratio	-0.88	-1.11
Maximum drawdown	−15.8% (30-03-2026)	−17.3% (30-03-2026)
Beta	0.90	1.00
Alpha	+2.35%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Mirae Asset Banking and Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	+11.77%	+9.77%
Standard deviation	15.58%	16.24%
Sharpe ratio	0.37	0.23
Sortino ratio	0.51	0.32
Maximum drawdown	−15.8% (30-03-2026)	−17.3% (30-03-2026)
Beta	0.92	1.00
Alpha	+2.30%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Mirae Asset Banking and Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	+10.56%	+6.64%
Standard deviation	16.00%	16.70%
Sharpe ratio	0.30	0.05
Sortino ratio	0.41	0.07
Maximum drawdown	−19.5% (16-06-2022)	−21.4% (16-06-2022)
Beta	0.93	1.00
Alpha	+3.99%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Mirae Asset Banking and Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	+14.24%	+10.40%
Standard deviation	16.69%	17.52%
Sharpe ratio	0.53	0.28
Sortino ratio	0.74	0.40
Maximum drawdown	−21.0% (16-06-2022)	−23.1% (16-06-2022)
Beta	0.92	1.00
Alpha	+4.22%	0.00%

From daily NAVs, 14-12-2020 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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

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.

−25%−20%−15%−10%−5%0%

202120222023202420252026

Mirae Asset Banking and Financial Services Fund (Direct)Nifty Financial Services TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Mirae Asset Banking and Financial Services Fund (Direct)	−21.0%	26-10-2021	16-06-2022	11-11-2022	5 months	−10.6%
Nifty Financial Services TRI	−23.1%	26-10-2021	16-06-2022	04-05-2023	11 months	−12.4%

From the Direct plan's daily NAV since 14-12-2020, adjusted for unit splits, and Nifty Financial Services TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

Mirae Asset Banking and Financial Services Fund vs Other Thematic Funds

The five Thematic 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
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
Mirae Asset Banking and Financial Services Fund	77/133	2,196	0.80%	−5.17%	+11.77%	+2.30%	0.92	0.37	0.51

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.

Mirae Asset Banking and Financial Services 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	Thematic median	Cost rank (1 = cheapest)
Direct	0.59%	0.03%	0.00%	0.18%	0.80%	1.18%	10/235
Regular	1.74%	0.03%	0.00%	0.38%	2.15%	2.41%	59/235

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 Thematic 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	−6.52%	−5.17%	1.35%	₹93,480	₹94,830
3 years	10.16%	11.77%	1.61% a year	₹1,33,682	₹1,39,629
5 years	8.92%	10.56%	1.64% a year	₹1,53,299	₹1,65,192

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.

Mirae Asset Banking and Financial Services 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 14-12-2020 to 30-10-2026: 71 instalments, ₹7,10,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planMirae Asset Banking and Financial Services Fund (Direct)	₹7,10,000	₹9,91,694	₹2,81,694	11.2%
Regular planMirae Asset Banking and Financial Services Fund (Regular)	₹7,10,000	₹9,42,912	₹2,32,912	9.5%
Nifty Financial Services TRI	₹7,10,000	₹8,89,590	₹1,79,590	7.5%
Category averageCategory average, 235 Thematic funds	₹7,10,000	₹10,43,287	₹3,33,287	12.9%

₹0₹5.0 L₹10.0 L₹15.0 L

202120222023202420252026

Direct planMirae Asset Banking and Financial Services Fund (Direct)Regular planMirae Asset Banking and Financial Services Fund (Regular)Nifty Financial Services TRICategory averageCategory average, 235 Thematic fundsAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI 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.

Mirae Asset Banking and Financial Services Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

97.9%Equity

Asset	Fund	Category
Equity	97.9%	94.5%
Cash and others	2.1%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	61.0%	45.7%
Mid Cap	15.7%	19.6%
Small Cap	21.2%	24.1%

Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Mirae Asset Banking and Financial Services Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Banks58.4%
Finance17.9%
Capital Markets11.3%
Insurance7.7%
Financial Technology (Fintech)2.6%

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Banks	59.7%	58.5%	58.4%	−1.3%
Finance	20.3%	17.8%	17.9%	−2.4%
Capital Markets	7.3%	9.5%	11.3%	+4.0%
Insurance	7.3%	7.1%	7.7%	+0.4%
Financial Technology (Fintech)	3.6%	3.2%	2.6%	−1.0%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

Mirae Asset Banking and Financial Services Fund Portfolio Holdings

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

Holdings	Sector	Weight%	1M change
HDFC Bank Ltd.	Banks	14.44%	0.0%
ICICI Bank Ltd.	Banks	13.63%	0.0%
State Bank of India	Banks	8.62%	0.0%
Axis Bank Ltd.	Banks	7.96%	0.0%
Kotak Mahindra Bank Ltd.	Banks	4.49%	0.0%
Bajaj Finance Ltd.	Finance	3.87%	+15.7%
SBI Life Insurance Co. Ltd.	Insurance	3.45%	+12.6%
Multi Commodity Exchange of India Ltd.	Capital Markets	2.97%	+11.9%
Kfin Technologies Ltd.	Capital Markets	2.93%	+8.4%
HDB Financial Services Ltd.	Finance	2.74%	+5.4%
L&T Finance Ltd.	Finance	2.69%	0.0%
Karur Vysya Bank Ltd.	Banks	2.63%	0.0%
Aditya Birla Capital Ltd.	Finance	2.62%	0.0%
Canara HSBC Life Insurance Co.Ltd.	Insurance	2.13%	0.0%
Shriram Finance Ltd.	Finance	2.10%	0.0%
Equitas Small Finance Bank Ltd.	Banks	2.01%	0.0%
CRISIL Ltd.	Finance	1.93%	0.0%
Home First Finance Company India Ltd.	Finance	1.89%	0.0%
DCB Bank Ltd.	Banks	1.75%	0.0%
Central Depository Services (I) Ltd.	Capital Markets	1.72%	0.0%
IndusInd Bank Ltd.	Banks	1.57%	0.0%
Pine Labs Ltd.	Financial Technology (Fintech)	1.57%	0.0%
BSE Ltd.	Capital Markets	1.41%	New
The Federal Bank Ltd.	Banks	1.30%	−35.7%
CARE Ratings Ltd.	Capital Markets	1.28%	0.0%
GO Digit General Insurance Ltd.	Insurance	1.25%	0.0%
Billionbrains Garage Ventures Ltd.	Capital Markets	1.00%	0.0%
PB Fintech Ltd.	Financial Technology (Fintech)	0.92%	0.0%
General Insurance Corporation of India	Insurance	0.89%	0.0%
Turtlemint Fintech Solutions Ltd.	Financial Technology (Fintech)	0.14%	0.0%

Mirae Asset Banking and Financial Services Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Bajaj Finance Ltd.	Added	+15.7%	3.87%
SBI Life Insurance Co. Ltd.	Added	+12.6%	3.45%
Multi Commodity Exchange of India Ltd.	Added	+11.9%	2.97%
Kfin Technologies Ltd.	Added	+8.4%	2.93%
HDB Financial Services Ltd.	Added	+5.4%	2.74%
The Federal Bank Ltd.	Reduced	−35.7%	1.30%
BSE Ltd.	New	New	1.41%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What Mirae Asset Banking and Financial Services Fund bought and sold

Mirae Asset Banking and Financial Services Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
Edelweiss Financial Services FundThematic · Edelweiss	65.6%	18	Compare
HDFC Banking & Financial Services FundThematic · HDFC	63.0%	15	Compare
UTI - Banking and Financial Services FundThematic · UTI	62.5%	18	Compare
Kotak Banking And Financial Services FundThematic · Kotak Mahindra	62.3%	17	Compare
MahindraManulife Banking & Financial Services FundSectoral · Mahindra Manulife	60.8%	15	Compare
Tata Banking & Financial Services FundThematic · Tata	59.8%	14	Compare
Tata NIFTY Financial Services Index FundIndex · Tata	59.0%	9	Compare
Mirae Asset Nifty Financial Services ETFETF · Mirae Asset	59.0%	9	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.

Mirae Asset Banking and Financial Services Fund Overview

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

Expense ratio (Direct): 0.80%
Expense ratio (Regular): 2.15%
Category: Thematic
Risk: Very High
Benchmark: Nifty Financial Services TRI
Launch date: 11-12-2020
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹2,195.97 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 148623
ISIN (Direct): INF769K01GX9
Scheme code (Regular): 148621
ISIN (Regular): INF769K01GU5
NAV history: From 14-12-2020, 5.9 years

Exit load: Exit load of 1% if redeemed within 1 Month.

Tax on Mirae Asset Banking and Financial Services Fund returns

Mirae Asset Banking and Financial Services Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
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	₹21.935	30-10-2026
direct	IDCW	₹21.839	30-10-2026
regular	Growth	₹20.031	30-10-2026
regular	IDCW	₹20.056	30-10-2026

About Mirae Asset Banking and Financial Services Fund

Mirae Asset Banking and Financial Services Fund is a mutual fund from Mirae Asset Mutual Fund. Its category is Thematic. It was launched on 11-12-2020. Its benchmark is Nifty Financial Services TRI. At the end of September 2026 it held 30 securities.

Fund Manager

Abhijith Vara
Fund manager of Mirae Asset Banking and Financial Services Fund, since 23-09-2025

See all funds of Mirae Asset Mutual Fund

AUM change

September 2026: ₹2,195.97 Cr; −6.81% from August 2026
August 2026: ₹2,356.52 Cr; +2.19% from July 2026
July 2026: ₹2,306.05 Cr; +0.05% from June 2026

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

Compare Mirae Asset Banking and Financial Services Fund with Other Funds

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

Compare with any other fund

Frequently Asked Questions for Mirae Asset Banking and Financial Services Fund

What is the current NAV of Mirae Asset Banking and Financial Services Fund?

The Direct plan NAV is ₹21.935. The Regular plan NAV is ₹20.031, as on 30-10-2026.

What are the returns of Mirae Asset Banking and Financial Services Fund?

The Direct plan returned −5.17% in 1 year, +11.77% a year over 3 years, +10.56% a year over 5 years. The Regular plan returned −6.52% in 1 year, +10.16% a year over 3 years, +8.92% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of Mirae Asset Banking and Financial Services Fund?

The Direct plan charges 0.80% a year. The Regular plan charges 2.15% a year. This is the figure the fund house reported to AMFI, in force from 23-10-2026.

What is the AUM of Mirae Asset Banking and Financial Services Fund?

Mirae Asset Banking and Financial Services Fund managed ₹2,195.97 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Mirae Asset Banking and Financial Services Fund?

At the end of September 2026 the largest holdings were HDFCBANK (14.44%), ICICIBANK (13.63%), SBIN (8.62%), AXISBANK (7.96%), KOTAKBANK (4.49%). The fund held 30 securities in all.

What did Mirae Asset Banking and Financial Services Fund buy and sell in September 2026?

It bought 1 new stock: BSE Ltd. It added shares in 5. It reduced 1.

How do I invest in Mirae Asset Banking and Financial Services Fund?

Through Mirae Asset 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 ₹5,000. You can invest once or through a monthly SIP.

Who is the fund manager of Mirae Asset Banking and Financial Services Fund?

Abhijith Vara (since 23-09-2025).

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.