MonitorDirect · GrowthWatch before adding
Mirae Asset Banking and Financial Services Fund
Mirae Asset Mutual FundEquity Schemes - Thematic Fund5.9 years
The scheme seeks to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services sector.
- NAV
- 22.011
- 29 Oct 2026
- 1Y
- -5.4%
- Trailing CAGR
- AUM
- ₹2,195.97 Cr
- 30 Sept 2026
- Volatility
- High
- 16.9% annualized
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 29 Oct 2026
Stance
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
In three lines
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Prefer peers if · Prefer 360 ONE QUANT FUND if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
5.9 years of path to read.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
0.79% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -21.0%. Ask whether you can hold through a similar fall.
Vs category
Fail
23% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Abhijith Vara · 1.1 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 ≈ 65.1% 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.
Drawdown rehearsal
This scheme’s worst fall on file is about 21%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
Monitor is recent mixed evidence - keep the SIP unless the buying brief says prefer peers, then swap with intent.
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-5.4%
- 3Y+12.1%
- 5Y+10.6%
- 10Yn/a
- SI+14.3%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-7.9%
- 3Y+5.2%
- 5Y+10.8%
- 10Yn/a
- Since inception
- +14.3%
- Calendar-day CAGR
- Excess 1Y
- -0.9%
- Category median, same plan and option
- 3Y win rate
- +23%
- Windows beating the median
- 3Y percentile
- 38
- Vs comparable share classes
- SIP 3Y XIRR
- +5.2%
- Simulated monthly SIP
- Worst rolling 3Y
- +11.0%
- 708 daily-ending windows
- Median rolling 3Y
- +17.4%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 216 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -21.0%
- Worst peak-to-trough
- Current
- -10.3%
- Below last peak
- Current spell
- 253 days
- Days below latest peak
- Time below peak
- +88%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 11 days
- 70 recovered episodes
- Longest recovery
- 148 days
- Trough to prior peak
26 Oct 2021 – 11 Nov 2022
Trough 16 Jun 2022 · recovered in 148 days
-21.0%
18 Feb 2026 – open
Trough 30 Mar 2026 · not recovered
-15.8%
15 Feb 2021 – 7 Jul 2021
Trough 12 Apr 2021 · recovered in 86 days
-14.0%
26 Sept 2024 – 17 Apr 2025
Trough 3 Mar 2025 · recovered in 45 days
-12.5%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
38
Vs category
45
Consistency
36
Risk-adjusted
52
Drawdown
47
Mean
44
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Monitor
Buying stance
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
Why this status
No status reasons yet. History is still thin.
Supporting reads
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
30 Sept 2026 · 31 holdings · top 10 are 65.1%.
- Top 5
- 49.1%
- Top 10
- 65.1%
- Largest holding
- 14.4%
- Effective holdings
- 14.9
HDFC Bank Ltd
Financial
14.4%
ICICI Bank Ltd
Financial
13.6%
State Bank of India
Financial
8.6%
Axis Bank Ltd
Financial
8.0%
Kotak Mahindra Bank Ltd
Financial
4.5%
What changed
DECISION
Status moved from HEALTHY to MONITOR.
27 Oct 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
360 ONE QUANT FUND
360 ONE Mutual Fund
- 1Y
- -8.9%
- 3Y
- +13.5%
- Vol
- 16.6%
- Max DD
- -22.4%
- Sharpe
- 0.56
- 3Y win
- +91%
- Lower volatility
- Higher win rate vs category
- Higher trailing returns
Caveat: Deeper drawdown · Higher TER
HSBC Consumption Fund
HSBC Mutual Fund
- 1Y
- -3.7%
- 3Y
- +14.3%
- Vol
- 15.0%
- Max DD
- -21.2%
- Sharpe
- 0.55
- 3Y win
- +59%
- Lower volatility
- Higher win rate vs category
- Higher trailing returns
Caveat: Deeper drawdown · Higher TER
Nippon India Japan Equity Fund
Nippon India Mutual Fund
- 1Y
- +24.9%
- 3Y
- +23.8%
- Vol
- 16.6%
- Max DD
- -29.9%
- Sharpe
- 0.34
- 3Y win
- +29%
- Lower volatility
- Higher win rate vs category
- Higher trailing returns
Caveat: Deeper drawdown · Higher TER
Nippon India MNC Fund
Nippon India Mutual Fund
- 1Y
- -8.6%
- 3Y
- n/a
- Vol
- 12.7%
- Max DD
- -15.0%
- Sharpe
- -0.39
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
Caveat: Higher TER · Lower trailing returns
WhiteOak Capital Special Opportunities Fund
WhiteOak Capital Mutual Fund
- 1Y
- +7.2%
- 3Y
- n/a
- Vol
- 14.7%
- Max DD
- -17.0%
- Sharpe
- 0.67
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
Caveat: Higher TER · Lower trailing returns