JM Value Fund
JM Financial Mutual Fund · Value · Direct plan, growth option
NAV (₹), 1 Oct 2026
106.6403
1-day change
-1.11%
1Y return
-1.7%
3Y CAGR
11.3%
5Y CAGR
14.2%
Max drawdown, 5Y
−26.1%
NAV history month-end NAV, ₹ · 2 Jan 2013 to 1 Oct 2026
Returns vs Value median (23 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | -3.6% | -5.5% |
| 3 months | -0.7% | -4.5% |
| 6 months | 14.3% | 4.6% |
| Year to date | -2.0% | -5.8% |
| 1 year | -1.7% | -1.8% |
| 3 years (CAGR) | 11.3% | 11.2% |
| 5 years (CAGR) | 14.2% | 12.2% |
| 7 years (CAGR) | 17.5% | 16.6% |
| 10 years (CAGR) | 15.0% | 13.7% |
| Since first NAV (CAGR) | 15.5% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 13.6% | 12.7% |
| 3Y rolling median | 19.1% | 18.7% |
| 3Y rolling worst | -6.7% | -5.9% |
| 3Y periods positive | 95% | 98% |
| 3Y periods ahead of benchmark | 96% | 98% |
| 5Y rolling median | 17.1% | 15.4% |
| 5Y rolling worst | 1.5% | -1.3% |
| 5Y periods ahead of benchmark | 100% | 100% |
Benchmark: Nifty 500 (proxy: Motilal Oswal Nifty 500 Index Fund, price return).
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 19.2% | 15.4% |
| Sharpe ratio | 0.28 | 0.34 |
| Sortino ratio | 0.43 | 0.51 |
| Beta | 1.13 | 0.96 |
| Alpha (ann.) | 1.4% | 1.9% |
| Upside capture | 119.52 | 102.26 |
| Downside capture | 110.98 | 94.29 |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −37.9% | −36.7% |
| Maximum drawdown, last 10Y | −37.9% | −40.1% |
| Maximum drawdown, last 5Y | −26.1% | −18.2% |
| Current drawdown | −13.3% | −9.6% |
| Recovery time of worst fall | 239 days | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Market context from Integrato Market Intelligence
This scheme invests mainly in the market below, which is also close to how many of them are benchmarked. Where that market stands today:
21,857.75 −0.97%
NSE close, 1 Oct 2026
- P/E 21.6: higher than 1% of days since 2023 (median 24.2)
- 1Y −3.9% · 3Y +8.9% p.a. · 5Y +8.6% p.a. (index fund NAV, after costs)
- −9.3% from its 52-week high
Index levels and P/E: NSE daily index closing values; gold and silver: IBJA rates; returns: growth NAV of an index fund or ETF tracking the market (AMFI), so they are after that fund's costs. Context only: a market's level or valuation does not tell you how any scheme will perform. Explore all markets.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 2.73% a year and the Direct plan's 1.57%, a gap of 1.16%; over the last 3 years the Direct plan returned 1.34 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹24,43,810.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Recent disclosure changes last 120 days, as disclosed via AMFI
- 1 Oct 2026: TER reduced from 1.59% to 1.57% (AMFI TER disclosure)
- 24 Sep 2026: TER increased from 1.58% to 1.59% (AMFI TER disclosure)
- 18 Sep 2026: TER reduced from 1.59% to 1.58% (AMFI TER disclosure)
- 15 Sep 2026: TER increased from 1.58% to 1.59% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Satish Ramanathan | 20 Aug 2021 | |
| Asit Bhandarkar | 11 Dec 2006 | |
| Deepak Gupta | 11 Apr 2025 | |
| Ruchi Fozdar | For Debt portion only | 4 Oct 2024 |
Objective: JM Value Fund is an open-ended diversified equity scheme which aims to provide long term capital growth by investing primarily in a well-diversified portfolio of undervalued securities. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme does not guarantee/ indicate any returns. Investors are required to read all the scheme related information set out in this document carefully.
Stated asset allocation: Equity and Equity related instruments (including equity derivatives) -80%-100%,Other Equity and Equity related instruments / Money Market Instruments / InvITs/ Gold ETFs / Silver ETFs / Other Liquid Instruments / Units of Domestic Mutual Funds^ - 0%-20%. ^Any other security as may be permitted by SEBI/ RBI from time to time. Other Liquid instruments includes cash, bank deposits with Scheduled Commercial Banks, Government Securities, Treasury bills, Repo on Government securities and any other instruments as specified by SEBI. The scheme may invest in the units of Overnight Fund, Money Market Fund & Liquid Fund.
Benchmark (tier 1): BSE 500 TRI
Exit load: If the units are redeemed/switched out on or before 30 days from the date of allotment – 1.00%. If the units are redeemed / switched out after 30 days from the date of allotment – Nil.
Minimum application: ₹1,000
Allotment date: 2 Jun 1997
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Direct plan | 1.57% | 1.28% |
| AUM, whole scheme (₹ crore) | 778 | 1,215 |
| Riskometer | Very High | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 0.3% | -2.3% TRI |
| Return, 3 years (AMFI) | 11.7% | 9.2% TRI |
| Return, 5 years (AMFI) | 14.3% | 8.9% TRI |
| Month-ends above category median (3Y CAGR) | 87% | 45% median |
| Month-ends in category top quartile (3Y) | 61% | 24% median |
| 7Y rolling CAGR, median (monthly windows) | 16.8% | 15.1% median |
Official benchmark: BSE 500 TRI (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Value Direct plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Nifty 500 proxy | Difference |
|---|---|---|---|
| 2026 YTD | -2.0% | -7.8% | +5.8% |
| 2025 | -3.2% | 7.7% | −10.9% |
| 2024 | 26.7% | 15.6% | +11.1% |
| 2023 | 48.7% | 26.5% | +22.1% |
| 2022 | 6.0% | 3.8% | +2.3% |
| 2021 | 37.2% | 30.6% | +6.5% |
| 2020 | 14.1% | 17.2% | −3.1% |
| 2019 | 12.7% | n/a | – |
| 2018 | -10.6% | n/a | – |
| 2017 | 45.9% | n/a | – |
Benchmark proxy: Motilal Oswal Nifty 500 Index Fund (Direct plan NAV, price return), which carries its own costs. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,21,203 | 1.9% |
| 3 years | ₹3,60,000 | ₹3,72,930 | 2.3% |
| 5 years | ₹6,00,000 | ₹8,13,655 | 12.1% |
| 10 years | ₹12,00,000 | ₹27,21,381 | 15.6% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
Category: Value
Plan / option: Direct · Growth
AMFI scheme code: 120486
ISIN: INF192K01BT3
First NAV in MFIC data: 2 Jan 2013
History: 13.7 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| DSP Multi Cap Fund | Multi Cap | 0.97 | n/a |
| PGIM India Multi Cap Fund | Multi Cap | 0.97 | n/a |
| JM Flexi Cap Fund | Flexi Cap | 0.97 | 13.4% |
| Franklin India Multi Cap Fund | Multi Cap | 0.97 | n/a |
| ITI Large & Mid Cap Fund | Large & Mid Cap | 0.97 | n/a |
| Bandhan Business Cycle Fund | Sectoral/Thematic | 0.96 | n/a |
Questions about JM Value Fund
- What is the latest NAV of JM Value Fund?
- The NAV of the Direct plan (growth option) was ₹106.6403 on 1 Oct 2026, as published by AMFI.
- Which category is JM Value Fund in?
- It is classified as Value in AMFI's daily NAV file. MFIC compares it with 23 Value schemes (Direct plans).
- What returns has JM Value Fund delivered?
- Over one year the NAV changed by -1.7%. The 3-year CAGR is 11.3% (category median 11.2%) and the 5-year CAGR is 14.2% (category median 12.2%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- How consistent have its 3-year returns been?
- Measuring a 3-year CAGR from every business day in its history, the median was 19.1%, the lowest was -6.7%, and 95% of 3-year periods ended with a gain. It was ahead of Nifty 500 (index-fund proxy) in 96% of those periods.
- What was the largest fall in JM Value Fund's NAV?
- The largest peak-to-trough fall in its available history was 37.9%; within the last five years it was 26.1% (category median 18.2%).
- How volatile is JM Value Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 19.2%, which is above the Value category median of 15.4%.
- What would a monthly SIP in JM Value Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 5 years (60 instalments, ₹6,00,000 invested) would have been worth about ₹8,13,655 on 1 Oct 2026, an annualised return (XIRR) of 12.1%. This uses the Direct plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of JM Value Fund?
- The total expense ratio of the Direct plan is 1.57% a year, as disclosed to AMFI (median of Value Direct plans: 1.28%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is JM Value Fund?
- Assets under management of the whole scheme were ₹778 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of JM Value Fund?
- AMFI lists the scheme's riskometer as “Very High”, and its benchmark's as “Very High”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of JM Value Fund and how has it compared?
- Its official benchmark is the BSE 500 TRI. Over 3 years AMFI reports a return of 11.7% for this plan against 9.2% for the benchmark total return index; over 5 years 14.3% against 8.9%. Past performance does not indicate future results.
- How often has JM Value Fund beaten its category?
- At 87% of the 120 month-ends compared over the last 10 years, its 3-year return was above the median of Value schemes (Direct plans); it was in the top quarter at 61% of them. A typical scheme would show about 50%.
- Who manages JM Value Fund?
- According to its Scheme Summary Document, JM Value Fund is managed by Satish Ramanathan (since 20 Aug 2021), Asit Bhandarkar (since 11 Dec 2006), Deepak Gupta (since 11 Apr 2025), Ruchi Fozdar (since 4 Oct 2024).
- What is the exit load of JM Value Fund?
- As stated in its scheme documents: If the units are redeemed/switched out on or before 30 days from the date of allotment – 1.00%. If the units are redeemed / switched out after 30 days from the date of allotment – Nil. Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in JM Value Fund?
- The minimum application amount is ₹1,000. SIP details: SIP - Daily, Weekly and Fortnightly - Rs. 500 - 6 Installments ; Monthly and Quarterly - Rs. 1000 - 6 Installments, STP- Daily 60 installments: 100 each. Further in multiples of Re 1/- Weekly/Fortnightly/Monthly : 12 installments for Rs. 500 or 6 installments for Rs. 1000 each. Further in multiple of Re 1/-. Quaterly : 3000 each 2 Instalments, SWP - Fixed Amount Withdrawal (FAW) - 5 instalments for Rs. 500/- each. Further in multiples of Re. 1/-; Capital Appreciation Withdrawal (CAW) - 5 instal….
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by -1.7% and the Regular plan's by -2.8%. The Regular plan includes the services of a distributor.
Reviewing your own mutual fund portfolio?
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Direct plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.