ReviewDirect · GrowthPrefer peers first
DSP Medium Term Fund
DSP Mutual FundIncome/Debt Oriented Schemes - Medium Term Fund13.8 years
The fund aims at reasonable and attractive return consistent with prudent risk from a portfolio of high quality debt instruments. The secondary objective is to generate capital appreciation.
- NAV
- 91.4456
- 30 Oct 2026
- 1Y
- +2.9%
- Trailing CAGR
- AUM
- ₹248.75 Cr
- 30 Sept 2026
- Volatility
- Low
- 2.8% annualized
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 30 Oct 2026
Stance
Prefer peers first
The live read flags issues. Inspect same-category alternatives before buying.
In three lines
Watch if · Long-term category-relative performance remains stronger than the most recent rolling 1-year windows, which have deteriorated across multiple periods.
Watch if · Three-year return sits below the 25th percentile of comparable share classes.
Prefer peers if · Prefer Bandhan Medium Term Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
13.8 years of path to read.
Engine status
Fail
The live read flags issues. Inspect same-category alternatives before buying.
Expense ratio
Pass
0.41% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -5.4%. Ask whether you can hold through a similar fall.
Vs category
Fail
5% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Pass
Vivekanand Ramakrishnan · 5.3 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Watch
Top 10 holdings ≈ 98.0% of the portfolio.
Browse category
Same-category peers are preloaded into compare when available.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
SIP discipline
Review does not mean stop the SIP tomorrow - compare peers first. Stopping on a red label often locks in the worst path.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y+2.9%
- 3Y+6.7%
- 5Y+6.0%
- 10Y+5.8%
- SI+6.8%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+2.2%
- 3Y+5.4%
- 5Y+6.1%
- 10Y+5.9%
- Since inception
- +6.8%
- Calendar-day CAGR
- Excess 1Y
- -2.2%
- Category median, same plan and option
- 3Y win rate
- +5%
- Windows beating the median
- 3Y percentile
- 18
- Vs comparable share classes
- SIP 3Y XIRR
- +5.4%
- Simulated monthly SIP
- Worst rolling 3Y
- +3.5%
- 2629 daily-ending windows
- Median rolling 3Y
- +6.1%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 2144 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -5.4%
- Worst peak-to-trough
- Current
- -1.5%
- Below last peak
- Current spell
- 79 days
- Days below latest peak
- Time below peak
- +66%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 7 days
- 291 recovered episodes
- Longest recovery
- 246 days
- Trough to prior peak
27 May 2013 – 22 Apr 2014
Trough 19 Aug 2013 · recovered in 246 days
-5.4%
3 Jun 2019 – 3 Feb 2020
Trough 10 Jun 2019 · recovered in 238 days
-5.3%
6 Mar 2020 – 22 Apr 2020
Trough 24 Mar 2020 · recovered in 29 days
-3.5%
24 Nov 2016 – 8 Jun 2017
Trough 22 Feb 2017 · recovered in 106 days
-3.0%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
18
Vs category
36
Consistency
14
Risk-adjusted
42
Drawdown
86
Mean
39
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Review
Buying stance
Prefer peers first
The live read flags issues. Inspect same-category alternatives before buying.
Why this status
- Long-term category-relative performance remains stronger than the most recent rolling 1-year windows, which have deteriorated across multiple periods.
- Three-year return sits below the 25th percentile of comparable share classes.
Supporting reads
- Peak-to-trough drawdown has stayed shallower than 15%.
Portfolio
30 Sept 2026 · 13 holdings · top 10 are 98.0%.
- Top 5
- 58.3%
- Top 10
- 98.0%
- Largest holding
- 14.0%
- Effective holdings
- 9.4
STATE DEVELOPMENT LOAN 31245 HAR 05JN32 7.13 FV RS 100
Unspecified
14.0%
GOVERNMENT OF INDIA 37080 GOI 16FB31 6.36 FV RS 100
Entities
13.9%
STATE DEVELOPMENT LOAN 32666 MH 01MR31 7.72 FV RS 100
Unspecified
10.2%
7.73% Maharashta State Government Securities
Unspecified
10.1%
STATE DEVELOPMENT LOAN 31356 KAR 09FB32 7.3 FV RS 100
Unspecified
10.0%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
30 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
29 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
28 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
27 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
26 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Oct 2026
DECISION
Status moved from REVIEW to MONITOR.
21 Oct 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Bandhan Medium Term Fund
Bandhan Mutual Fund
- 1Y
- +5.4%
- 3Y
- +7.5%
- Vol
- 2.0%
- Max DD
- -3.6%
- Sharpe
- 0.81
- 3Y win
- +29%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
HDFC Medium Term Fund
HDFC Mutual Fund
- 1Y
- +5.4%
- 3Y
- +7.7%
- Vol
- 1.7%
- Max DD
- -3.5%
- Sharpe
- 1.22
- 3Y win
- +65%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
HSBC Medium Term Fund
HSBC Mutual Fund
- 1Y
- +4.3%
- 3Y
- +7.5%
- Vol
- 1.2%
- Max DD
- -1.0%
- Sharpe
- 1.23
- 3Y win
- +87%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
ICICI Prudential Medium Term Fund
ICICI Prudential Mutual Fund
- 1Y
- +5.7%
- 3Y
- +8.2%
- Vol
- 1.9%
- Max DD
- -5.1%
- Sharpe
- 1.29
- 3Y win
- +80%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
Axis Medium Term Fund
Axis Mutual Fund
- 1Y
- +5.4%
- 3Y
- +8.2%
- Vol
- 2.5%
- Max DD
- -7.3%
- Sharpe
- 1.02
- 3Y win
- +100%
- Lower volatility
- Higher win rate vs category
- Higher trailing returns
Caveat: Deeper drawdown · Higher TER