Expense ratio (TER)
The annual cost of running a scheme, already deducted from its NAV.
What it measures
The total expense ratio covers fund management, distribution (Regular plans), registrar, custody and other costs, charged daily as a share of assets. Because it is deducted before the NAV is published, every return in MFIC is already after expenses.
Its parts
AMFI publishes each scheme's TER every day, split into the base expense ratio (management, distribution and running costs), brokerage, transaction costs and statutory levies (GST and other charges), separately for the Regular and Direct plans.
How MFIC gets it
MFIC reads AMFI's TER data (amfiindia.com, “TER of MF Schemes”) and matches each scheme to its AMFI NAV line by name. It keeps the days on which a scheme's TER changed, for the last 12 months, and shows the latest TER, its parts and the change history on each scheme's Costs tab. Schemes whose names could not be matched show “Data unavailable”.
How to read it
Compare TERs within the same category and plan: a debt fund and an equity fund have very different cost structures, and the Regular plan always costs more than the Direct plan of the same scheme. A lower TER leaves more of the gross return with investors, but it is one factor among many.
Limitations
TER is a rate, not a forecast of returns. It changes when the fund house revises it or the scheme's size crosses a regulatory slab. Name matching can miss a scheme that was renamed.
Expense ratio (TER) by category today
Spread of expense ratio (ter) across Regular-plan schemes in each category, calculated by MFIC from AMFI NAVs as of 1 Oct 2026. The middle half of schemes falls between the 25th and 75th percentiles.
| Category (Regular plans) | Schemes | 25th percentile | Median | 75th percentile |
|---|---|---|---|---|
| Large Cap | 38 | 1.84% | 2.22% | 2.60% |
| Large & Mid Cap | 36 | 1.87% | 2.30% | 2.57% |
| Flexi Cap | 46 | 2.01% | 2.19% | 2.45% |
| Multi Cap | 34 | 2.04% | 2.23% | 2.31% |
| Mid Cap | 34 | 1.86% | 2.03% | 2.40% |
| Small Cap | 36 | 1.77% | 2.06% | 2.39% |
| ELSS | 38 | 1.93% | 2.23% | 2.57% |
| Focused | 28 | 2.05% | 2.21% | 2.39% |
| Value | 24 | 2.00% | 2.30% | 2.72% |
| Aggressive Hybrid | 31 | 1.92% | 2.19% | 2.51% |
| Balanced Advantage | 37 | 1.99% | 2.31% | 2.57% |
| Index Fund | 275 | 0.91% | 1.10% | 1.22% |
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Related: Direct vs Regular plans · Methodology