Rs. 100- Rs. 10 crore
Start investing with Rs. 100 | Easy KYC | Expert-managed funds
How Are Mutual Fund Returns Calculated
In summary
The Mirae Asset Global X Artificial Intelligence & Technology ETF FoF attracted attention after recording an 81.34% one-year return for the comparison period referenced in July 2026. This historical performance reflected a strong period for global AI and technology stocks and should not be treated as an expected future return. The scheme invests in the Global X Artificial Intelligence & Technology ETF and carries a Very High Riskometer rating.
- The scheme invests in an overseas AI and technology-focused ETF.
- Its benchmark is the Indxx Artificial Intelligence & Big Data Index (TRI) (INR).
- The scheme Riskometer is Very High.
- Currency movements can affect returns for Indian investors.
- The fund has a 1% exit load within one year.
- A thematic portfolio can be more volatile than a diversified equity fund.
The investment case therefore depends on more than its recent return. Portfolio concentration, valuations, currency risk, costs, and investment horizon also matter.
What is the Mirae Asset Global X Artificial Intelligence & Technology ETF FoF?
The Mirae Asset Global X Artificial Intelligence & Technology ETF Fund of Fund is an open-ended fund of fund that invests in units of the Global X Artificial Intelligence & Technology ETF. Its stated objective is to seek long-term capital appreciation through this underlying investment. The scheme was allotted on 7 September 2022.
The structure gives Indian investors exposure to an international technology theme through a domestic mutual fund scheme rather than requiring them to purchase the overseas ETF directly.
Its underlying theme includes areas such as artificial intelligence, semiconductors, cloud computing, software, and related technology businesses.
For context, investors can also understand how mutual fund units are valued and how mutual funds work before evaluating a thematic fund.
What drove the 81.34% one-year return?
The 81.34% return was the historical one-year figure cited for the comparison period in the July 31, 2026 article. It reflected a strong rally in global AI and technology stocks during that period.
A thematic fund can benefit disproportionately when its underlying sector performs strongly. AI-related companies received significant investor attention as demand for computing infrastructure, semiconductors, cloud services, and AI applications increased.
However, the same concentration can work against investors when valuations fall or sentiment towards the theme weakens. A one-year return should therefore be viewed as a historical observation rather than a return expectation.
What is the fund’s investment structure?
The scheme invests in the Global X Artificial Intelligence & Technology ETF rather than directly selecting individual global companies. This makes it a fund of fund (FoF) structure.
| Particular | Details |
|---|---|
| Scheme type | Open-ended overseas fund of fund |
| Underlying investment | Global X Artificial Intelligence & Technology ETF |
| Theme | Artificial intelligence and technology |
| Benchmark | Indxx Artificial Intelligence & Big Data Index (TRI) (INR) |
| Allotment date | 7 September 2022 |
| Scheme Riskometer | Very High |
Last updated: October 2026
The structure provides international thematic exposure through one domestic mutual fund scheme, but it also means investors bear the risks associated with the underlying ETF and overseas markets.
What are the key risks of this fund?
The most important consideration is that the scheme is thematic and international, rather than a broad global equity fund.
Technology concentration risk
The underlying ETF focuses on artificial intelligence and technology-related companies. If the technology sector experiences a broad correction, the fund can be affected more significantly than a diversified equity portfolio.
Currency risk
The underlying assets are overseas. Changes in the value of foreign currencies against the Indian rupee can therefore affect an Indian investor’s rupee-denominated return, even when the underlying securities perform well.
Valuation and market risk
Technology companies can trade at high valuations based on expectations of future growth. If earnings or growth expectations weaken, prices can fall sharply.
International and regulatory risk
Changes in overseas regulations, geopolitical conditions, trade policies, interest rates, and economic conditions can affect the underlying companies and markets.
SEBI’s Riskometer has six levels: Low, Low to Moderate, Moderate, Moderately High, High, and Very High. This scheme is currently labelled Very High, but the Riskometer should be considered alongside the portfolio and other qualitative and quantitative factors.
What are the costs and exit-load conditions?
The official March 2026 factsheet reported a monthly TER of 0.40% for the Regular Plan and 0.26% for the Direct Plan, as of February 28, 2026. As a fund of fund, investors should also account for the costs of the underlying scheme.
The same factsheet states that a 1% exit load applies when units are redeemed within 365 days from allotment, while no exit load applies after one year.
Costs should be considered alongside the fund’s strategy and risk rather than used as the sole basis for comparison.
Conclusion
The Mirae Asset Global X Artificial Intelligence & Technology ETF FoF offers Indian investors an opportunity to participate in the long-term growth of global AI and technology companies through a single investment. While its recent performance has been impressive, it is a thematic international fund and may experience higher volatility than diversified equity funds. Investors should evaluate their financial goals, risk tolerance, and investment horizon before investing rather than relying solely on past returns.
How does the fund compare with a diversified equity fund?
A diversified equity fund typically spreads investments across several sectors and companies, whereas a thematic AI fund deliberately concentrates exposure around a particular investment theme.
This creates a different risk-return profile.
| Factor | AI and technology FoF | Diversified equity fund |
|---|---|---|
| Investment focus | AI and technology theme | Multiple sectors |
| Geographic exposure | Primarily overseas | Depends on scheme |
| Concentration | Higher | Generally broader |
| Currency exposure | Present | Depends on portfolio |
| Theme-specific risk | Higher | Generally lower |
Last updated: October 2026
The comparison does not establish that one structure is better. The appropriate choice depends on portfolio objectives, diversification, risk capacity, and investment horizon.
For a broader understanding of market conditions, see market liquidity. Investors interested in how mutual fund principles apply across different schemes can also read about the mutual fund theorem.
What should you check before investing?
Do not base an investment decision on the 81.34% one-year figure alone. Check the latest factsheet, portfolio, Riskometer, benchmark, expense ratio, exit load, and performance across longer periods.
Also consider whether the AI theme already forms a large part of your portfolio through other technology or global investments. Concentrating multiple investments around the same theme can reduce the diversification you intended to achieve.
Historical performance can help assess what happened in a particular period, but it cannot establish what the fund will deliver in the future.
How is the fund taxed?
Tax treatment depends on the applicable classification and the nature of the mutual fund units. Section 50AA of the Income-tax Act currently applies a special short-term capital-gains treatment to specified mutual funds that meet its prescribed debt and money-market criteria. The definition changed from 1 April 2026.
Investors should therefore check the scheme’s current tax classification and applicable Income Tax provisions rather than assuming that all mutual funds have identical tax treatment.
Conclusion
The Mirae Asset Global X Artificial Intelligence & Technology ETF FoF offers targeted international exposure to the global AI and technology theme through an overseas ETF. Its 81.34% one-year historical return explains the attention it received, but that figure should not be treated as a future-return expectation.
The scheme carries a Very High Riskometer rating and is exposed to technology concentration, global market movements, currency fluctuations, and valuation risk. Investors should assess these factors, along with costs, exit-load conditions, portfolio diversification, and investment horizon, before considering the scheme.
Last reviewed: October 2026
Mutual funds are subject to market risk. Please read the scheme-related documents carefully before investing.
Explore Investment Tools
Articles and Insights
Frequently Asked Questions
Understanding the fund structure
Assessing thematic exposure
Evaluating past performance
What does FoF mean in this Mirae Asset scheme?
FoF means Fund of Fund. Instead of primarily buying individual securities itself, the scheme invests in units of another fund. In this case, the scheme invests in the Global X Artificial Intelligence & Technology ETF. This structure provides indirect exposure to the underlying ETF while the Indian mutual fund remains the investor’s primary scheme.
Why does the benchmark use INR?
The scheme’s benchmark is the Indxx Artificial Intelligence & Big Data Index (TRI) (INR). The INR designation presents the benchmark’s performance in Indian rupee terms, which is relevant when evaluating an investment made by an Indian investor. Actual scheme performance can still differ because of portfolio expenses, tracking differences, timing, and other factors.
Can an AI-focused fund replace a diversified equity portfolio?
A thematic AI fund generally should not be assumed to replace a diversified equity portfolio. Its concentrated exposure can increase sensitivity to one sector and its valuations. A diversified portfolio can spread exposure across sectors and investment styles. Investors considering an AI fund should first understand how much technology exposure they already have elsewhere.
What happens if AI company valuations fall sharply?
A sharp decline in valuations of AI and technology companies can reduce the value of the underlying ETF and, consequently, the FoF. The impact can be amplified when several holdings fall together because of sector concentration. Currency movements can add another source of gains or losses for an Indian investor.
Is an 81.34% one-year return a sign that the fund is suitable?
No. A high historical return shows what the fund delivered during a particular period; it does not establish future performance or suitability. Investors should examine the source and period of the return, portfolio concentration, risk level, costs, investment horizon, and existing exposure before deciding whether the scheme fits their portfolio.
Should you invest after a period of very strong performance?
A strong past performance should prompt further analysis rather than an automatic investment decision. Investors should understand what drove the performance, whether valuations have changed, and how the investment fits their existing portfolio. Buying solely because a fund has recently delivered high returns can expose an investor to performance-chasing and concentration risks.
Disclaimer
Bajaj Finance Limited ("BFL") is registered with the Association of Mutual Funds in India ("AMFI") as a distributor of third party Mutual Funds (shortly referred as 'Mutual Funds) with ARN No. 90319
BFL does NOT:
(i) provide investment advisory services in any manner or form.
(ii) carry customized/personalized suitability assessment.
(iii) carry independent research or analysis, including on any Mutual Fund schemes or other investments; and provide any guarantee of return on investment.
In addition to displaying the Mutual fund products of Asset Management Companies, some general information is sourced from third parties, is also displayed on As-is basis, which should NOT be construed as any solicitation or attempt to effect transactions in securities or the rendering any investment advice. Mutual Funds are subject to market risks, including loss of principal amount and Investor should read all Scheme/Offer related documents carefully. The NAV of units issued under the Schemes of mutual funds can go up or down depending on the factors and forces affecting capital markets and may also be affected by changes in the general level of interest rates. The NAV of the units issued under the scheme may be affected, inter-alia by changes in the interest rates, trading volumes, settlement periods, transfer procedures and performance of individual securities forming part of the Mutual Fund. The NAV will inter-alia be exposed to Price/Interest Rate Risk and Credit Risk. Past performance of any scheme of the Mutual fund do not indicate the future performance of the Schemes of the Mutual Fund. BFL shall not be responsible or liable for any loss or shortfall incurred by the investors. There may be other/better alternatives to the investment avenues displayed by BFL. Hence, the final investment decision shall at all times exclusively remain with the investor alone and BFL shall not be liable or responsible for any consequences thereof.
Investment by a person residing outside the territorial jurisdiction of India is not acceptable nor permitted.
Disclaimer on Risk-O-Meter:
Investors are advised before investing to evaluate a scheme not only on the basis of the Product labeling (including the Riskometer) but also on other quantitative and qualitative factors such as performance, portfolio, fund managers, asset manager, etc, and shall also consult their Professional advisors, if they are unsure about the suitability of the scheme before investing.
Disclosure: Bajaj Finance Limited (BFL) is a distributor of Mutual Funds with ARN - 90319 and distributes mutual funds of Bajaj Finserv Asset Management Limited (BFSAMC). BFL receives commission towards distribution of mutual fund products. BFSAMC is a group company of BFL, carrying business on arm’s length basis without any conflict of interest and in accordance with the prevailing law / regulation.
Disclaimer
Bajaj Finance Limited ("BFL") is an NBFC offering loans, deposits and third-party wealth management products.
The information BFL contained in this article is for general informational purposes only and does not constitute any financial advice. The content herein has been prepared by BFL on the basis of publicly available information, internal sources and other third-party sources believed to be reliable. However, BFL cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed.
This information should not be relied upon as the sole basis for any investment decisions. Hence, User is advised to independently exercise diligence by verifying complete information, including by consulting independent financial experts, if any, and the investor shall be the sole owner of the decision taken, if any, about suitability of the same.
Disclaimer
Mutual Fund SIP calculator may provide potential investors an approximate estimate on the maturity amount of the monthly SIP, purely based on mathematical calculation of the projected annual return rate selected by investor. However, such calculation does not factor the actual performance by the Asset Management Company (AMC) and should not be treated as any advice or assurance about the actual return of investment. Mutual Funds do not have a fixed rate of return and it is not possible to predict the rate of return. Please note that the SIP calculator are for illustrations only and do not represent actual returns which may vary depending on various factors including but not limited to actual performance, expense ratio, taxation, exit load (if any), etc.