# Medium Term funds

Debt with a portfolio duration of three to four years. Called Medium Duration until SEBI renamed the debt categories in 2026.

Full page: https://discovermf.com/categories/medium-term
Figures as of 3 Nov 2026, from DiscoverMF. Information, not investment advice. Past returns do not indicate future returns. Mutual fund investments are subject to market risks; read all scheme-related documents carefully.

13 funds managing ₹24,764 cr. Category averages: +4.2% over one year, +7.0% a year over three years; typical expense ratio 1.32%.

## All funds, by three-year return

| Fund | 1 year | 3 years (a year) | 5 years (a year) | Volatility | Expense ratio | Fund size |
| --- | --- | --- | --- | --- | --- | --- |
| [Aditya Birla Sun Life Medium Term Fund](https://discovermf.com/funds/aditya-birla-sun-life-medium-term-fund-111803.md) | +6.9% | +9.6% | +11.8% | 2.3% | 1.55% | ₹3,351 cr |
| [Nippon India Medium Term Fund](https://discovermf.com/funds/nippon-india-medium-term-fund-130037.md) | +4.5% | +7.7% | +6.2% | 1.5% | 1.08% | ₹144 cr |
| [Kotak Medium Term Fund](https://discovermf.com/funds/kotak-medium-term-fund-128009.md) | +4.2% | +7.5% | +6.2% | 1.7% | 1.63% | ₹1,868 cr |
| [Axis Medium Term Fund](https://discovermf.com/funds/axis-medium-term-fund-116894.md) | +4.9% | +7.5% | +6.5% | 1.4% | 1.32% | ₹1,939 cr |
| [ICICI Prudential Medium Term Fund](https://discovermf.com/funds/icici-prudential-medium-term-fund-102741.md) | +5.2% | +7.5% | +6.6% | 1.6% | 1.36% | ₹5,270 cr |
| [HDFC Medium Term Fund](https://discovermf.com/funds/hdfc-medium-term-fund-101989.md) | +4.9% | +7.0% | +6.0% | 1.4% | 1.30% | ₹3,520 cr |
| [SBI Medium Term Fund](https://discovermf.com/funds/sbi-medium-term-fund-102053.md) | +4.8% | +6.9% | +6.1% | 1.5% | 1.22% | ₹6,332 cr |
| [HSBC Medium Term Fund](https://discovermf.com/funds/hsbc-medium-term-fund-151149.md) | +3.8% | +6.8% | — | 1.4% | 1.12% | ₹668 cr |
| [Bandhan Medium Term Fund](https://discovermf.com/funds/bandhan-medium-term-fund-108728.md) | +4.6% | +6.7% | +5.2% | 1.5% | 1.36% | ₹1,237 cr |
| [DSP Medium Term Fund](https://discovermf.com/funds/dsp-medium-term-fund-100078.md) | +2.9% | +6.4% | +5.7% | 1.6% | 0.71% | ₹247 cr |
| [Invesco India Medium Term Fund](https://discovermf.com/funds/invesco-india-medium-term-fund-149012.md) | +3.0% | +6.2% | +5.1% | 1.7% | 1.14% | ₹121 cr |
| [UTI Medium Term Fund](https://discovermf.com/funds/uti-medium-term-fund-134499.md) | +2.9% | +5.9% | +5.1% | 1.4% | 1.54% | ₹33.8 cr |
| [Sundaram Medium Term Fund](https://discovermf.com/funds/sundaram-medium-term-fund-100603.md) | +1.8% | +4.9% | +3.9% | 1.5% | 1.83% | ₹32.1 cr |

## Questions

### How many Medium Term funds are there?

13 funds, managing ₹24,764 cr between them as of 3 Nov 2026. The largest is SBI Medium Term Fund, at ₹6,332 cr.

### What return have Medium Term funds given?

The average Medium Term fund returned +4.2% over the last year, +7.0% a year over three years, +6.2% a year over five years. Over the last year the funds ranged from +1.8% to +6.9%. Past returns do not tell you future returns.

### Which Medium Term fund has the lowest expense ratio?

DSP Medium Term Fund, at 0.71% a year, against 1.32% for the average fund in the category. The expense ratio is taken out of the fund every day, so every return shown is already after it.

### Which Medium Term fund has the highest three-year return?

Aditya Birla Sun Life Medium Term Fund, at +9.6% a year over the last three years, against +7.0% for the average fund. Past returns do not tell you future returns.

### How risky are Medium Term funds?

Their volatility over the last year averaged 1.5%: the higher it is, the more the price swings from day to day. 7 of 13 carry the riskometer level Moderately High, on SEBI's six-step scale from Low to Very High.