Dynamic Term funds in India
44 plans (22 Regular, 22 Direct), rated on their track record against the median fund in their category and their peers. Data as of 8 Nov 2026.
The manager decides the duration. Results depend on calling interest rates right, so the spread between funds is wide. SEBI requires dynamic term funds to change the portfolio's duration freely as their view on interest rates changes.
The difference, on ₹10 lakh invested three years ago, between the strongest dynamic term fund (7.7% a year) and the weakest (4.5% a year). Same category, same SEBI rules, same market. 12 of 22 funds beat the median fund in their category over the same period.
Regular plans, to the latest NAV. Past returns, not a forecast.
Regular plans (22)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| 360 ONE Dynamic Term Fund360 ONE Mutual Fund · 13.4 yrs | A+ | 7.7% | +1.6% | 0.59% | ₹539 cr |
| Axis Dynamic Term FundAxis Mutual Fund · 15.5 yrs | A+ | 7.2% | +1.2% | 0.64% | ₹949 cr |
| ICICI Prudential Dynamic Term FundICICI Prudential Mutual Fund · 16.8 yrs | A+ | 6.7% | +0.7% | 1.30% | ₹12,453 cr |
| Aditya Birla Sun Life Dynamic Term FundAditya Birla Sun Life Mutual Fund · 20.6 yrs | A | 7.1% | +1.0% | 1.22% | ₹1,340 cr |
| Nippon India Dynamic Term FundNippon India Mutual Fund · 20.6 yrs | A | 6.9% | +0.9% | 0.74% | ₹3,646 cr |
| UTI Dynamic Term FundUTI Mutual Fund · 16.4 yrs | A | 6.4% | +0.4% | 1.28% | ₹388 cr |
| JM Dynamic Term FundJM Financial Mutual Fund · 20.6 yrs | A | 6.2% | +0.2% | 0.93% | ₹52 cr |
| SBI Dynamic Term FundSBI Mutual Fund · 20.6 yrs | B | 6.5% | +0.5% | 1.37% | ₹3,457 cr |
| Quantum Dynamic Term FundQuantum Mutual Fund · 9.6 yrs | B | 6.3% | +0.3% | 1.01% | ₹78 cr |
| HSBC Dynamic Term FundHSBC Mutual Fund · 3.9 yrs | B | 6.0% | 0.0% | 0.83% | ₹117 cr |
| Kotak Dynamic Term FundKotak Mahindra Mutual Fund · 18.4 yrs | B | 7.0% | +0.9% | 1.35% | ₹2,173 cr |
| Mirae Asset Dynamic Term FundMirae Asset Mutual Fund · 9.6 yrs | B | 5.9% | -0.2% | 0.99% | ₹114 cr |
| Mahindra Manulife Dynamic Term FundMahindra Manulife Mutual Fund · 8.2 yrs | B | 6.2% | +0.2% | 1.58% | ₹44 cr |
| HDFC Dynamic Term FundHDFC Mutual Fund · 20.6 yrs | B | 5.9% | -0.1% | 1.40% | ₹468 cr |
| ITI Dynamic Term FundITI Mutual Fund · 5.3 yrs | B | 4.8% | -1.3% | 1.24% | ₹22 cr |
| DSP Dynamic Term FundDSP Mutual Fund · 19.5 yrs | B | 5.3% | -0.8% | 1.14% | ₹580 cr |
| PGIM India Dynamic Term FundPGIM India Mutual Fund · 14.8 yrs | C | 5.6% | -0.5% | 1.68% | ₹75 cr |
| BANDHAN Dynamic Term FundBandhan Mutual Fund · 17.9 yrs | C | 6.8% | +0.8% | 1.65% | ₹1,892 cr |
| Groww Dynamic Term FundGroww Mutual Fund · 7.9 yrs | C | 4.9% | -1.1% | 1.36% | ₹25 cr |
| Baroda BNP Paribas Dynamic Term FundBaroda BNP Paribas Mutual Fund · 4.6 yrs | C | 5.3% | -0.8% | 1.72% | ₹113 cr |
| Union Dynamic Term FundUnion Mutual Fund · 14.7 yrs | C | 4.8% | -1.2% | 1.54% | ₹61 cr |
| Canara Robeco Dynamic Term FundCanara Robeco Mutual Fund · 17.4 yrs | C | 4.5% | -1.5% | 1.71% | ₹79 cr |
Direct plans (22)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| 360 ONE Dynamic Term Fund360 ONE Mutual Fund · 13.4 yrs | A+ | 7.9% | +1.1% | 0.34% | ₹539 cr |
| ICICI Prudential Dynamic Term FundICICI Prudential Mutual Fund · 13.8 yrs | A+ | 7.5% | +0.7% | 0.63% | ₹12,453 cr |
| Mahindra Manulife Dynamic Term FundMahindra Manulife Mutual Fund · 8.2 yrs | A | 7.5% | +0.7% | 0.41% | ₹44 cr |
| Axis Dynamic Term FundAxis Mutual Fund · 13.8 yrs | A | 7.5% | +0.7% | 0.34% | ₹949 cr |
| UTI Dynamic Term FundUTI Mutual Fund · 13.8 yrs | A | 7.3% | +0.5% | 0.56% | ₹388 cr |
| Aditya Birla Sun Life Dynamic Term FundAditya Birla Sun Life Mutual Fund · 13.8 yrs | A | 7.7% | +0.9% | 0.64% | ₹1,340 cr |
| SBI Dynamic Term FundSBI Mutual Fund · 13.8 yrs | A | 7.4% | +0.5% | 0.64% | ₹3,457 cr |
| Nippon India Dynamic Term FundNippon India Mutual Fund · 13.8 yrs | B | 7.3% | +0.5% | 0.35% | ₹3,646 cr |
| Mirae Asset Dynamic Term FundMirae Asset Mutual Fund · 9.6 yrs | B | 6.8% | -0.1% | 0.16% | ₹114 cr |
| PGIM India Dynamic Term FundPGIM India Mutual Fund · 13.8 yrs | B | 6.9% | +0.1% | 0.49% | ₹75 cr |
| Kotak Dynamic Term FundKotak Mahindra Mutual Fund · 13.8 yrs | B | 7.8% | +1.0% | 0.61% | ₹2,173 cr |
| JM Dynamic Term FundJM Financial Mutual Fund · 13.8 yrs | B | 6.7% | -0.1% | 0.44% | ₹52 cr |
| Quantum Dynamic Term FundQuantum Mutual Fund · 11.5 yrs | B | 6.9% | +0.0% | 0.50% | ₹78 cr |
| HSBC Dynamic Term FundHSBC Mutual Fund · 3.9 yrs | B | 6.6% | -0.2% | 0.30% | ₹117 cr |
| ITI Dynamic Term FundITI Mutual Fund · 5.3 yrs | B | 5.9% | -1.0% | 0.30% | ₹22 cr |
| HDFC Dynamic Term FundHDFC Mutual Fund · 13.8 yrs | B | 6.6% | -0.2% | 0.75% | ₹468 cr |
| BANDHAN Dynamic Term FundBandhan Mutual Fund · 13.8 yrs | C | 7.8% | +0.9% | 0.79% | ₹1,892 cr |
| Groww Dynamic Term FundGroww Mutual Fund · 7.9 yrs | C | 5.9% | -0.9% | 0.45% | ₹25 cr |
| DSP Dynamic Term FundDSP Mutual Fund · 13.8 yrs | C | 6.0% | -0.9% | 0.54% | ₹580 cr |
| Baroda BNP Paribas Dynamic Term FundBaroda BNP Paribas Mutual Fund · 4.6 yrs | C | 6.3% | -0.5% | 0.74% | ₹113 cr |
| Canara Robeco Dynamic Term FundCanara Robeco Mutual Fund · 13.8 yrs | C | 5.7% | -1.2% | 0.74% | ₹79 cr |
| Union Dynamic Term FundUnion Mutual Fund · 13.8 yrs | C | 5.1% | -1.7% | 1.31% | ₹61 cr |
Common questions
What does a dynamic term fund invest in?
SEBI requires dynamic term funds to change the portfolio's duration freely as their view on interest rates changes.
How many dynamic term funds beat their index over 3 years?
12 of 22 dynamic term funds (Regular plans with 3 years of history) beat the median fund in their category over the 3 years to 8 Nov 2026.
How are these funds rated?
Each fund is compared only with funds in its category and plan type, on its long-run return over the index, risk-adjusted return, consistency, cost and portfolio. The ratings describe the track record so far; our own backtest found they do not predict future returns.
Ratings describe past track records and are not a recommendation to buy or sell. Read the scheme documents before investing.