COMPARE
DSP Value Fund - Direct Plan - Growth vs JM Value Fund (Direct) - Growth Option
DSP Value Fund and JM Value Fund (Direct) are both in the Value Fund category, from DSP Asset Managers Private Limited and JM Financial Asset Management Limited respectively. JM Value Fund (Direct) has posted a higher 3-year rolling CAGR. DSP Value Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
DSP Value Fund has the lower direct-plan expense ratio, by 0.04 percentage points.
| DSP Value Fund - Direct Plan - Growth | JM Value Fund (Direct) - Growth Option | |
|---|---|---|
| Category | Value Fund | Value Fund |
| AMC | DSP Asset Managers Private Limited | JM Financial Asset Management Limited |
| Benchmark | Nifty 500 TRI | BSE 500 TRI |
| NAV | ₹23.636 (2026-10-28) | ₹102.1723 (2026-10-28) |
| AUM | ₹2,287.671 Cr | ₹742.557 Cr |
| Expense Ratio (Direct) | 1.55% | 1.59% |
| Inception | 2020-11-20 | 1997-03-25 |
Returns
JM Value Fund (Direct) leads on 3-year rolling CAGR (19.2% vs DSP Value Fund's 18.6%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
JM Value Fund (Direct) has been the more volatile of the two by standard deviation.
| DSP Value Fund - Direct Plan - Growth | JM Value Fund (Direct) - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.71 | 0.07 |
| 3Y Alpha | 6.968% | 0.2323% |
| 3Y Std Deviation | 10.9079% | 17.1123% |
| 3Y Calmar Ratio | 1.08 | 0.32 |
Portfolio Analytics
JM Value Fund (Direct) carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| DSP Value Fund - Direct Plan - Growth | JM Value Fund (Direct) - Growth Option | |
|---|---|---|
| P/E Ratio | 20.1495 | 22.4435 |
| P/B Ratio | - | - |
| Dividend Yield | 1.8723% | 1.0911% |
| Active Share | 65.65% | 79.65% |
| Portfolio Turnover | 136% | 75% |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
DSP Value Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, DSP Value Fund or JM Value Fund (Direct)?
JM Value Fund (Direct)'s 3-year rolling CAGR of 19.2% is higher than DSP Value Fund's 18.6%. JM Value Fund (Direct) sits in the 67th percentile of its category on this metric, versus the 48th percentile for DSP Value Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, DSP Value Fund or JM Value Fund (Direct)?
DSP Value Fund's direct-plan expense ratio is 0.04 percentage points lower than JM Value Fund (Direct)'s. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, DSP Value Fund or JM Value Fund (Direct)?
By standard deviation (a measure of how much a fund's returns swing around its own average), JM Value Fund (Direct) has been more volatile than DSP Value Fund over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.71 for DSP Value Fund vs 0.07 for JM Value Fund (Direct)) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, DSP Value Fund or JM Value Fund (Direct)?
DSP Value Fund has ₹2,288 Cr in assets under management, versus ₹743 Cr for JM Value Fund (Direct). A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which fund has a longer track record, DSP Value Fund or JM Value Fund (Direct)?
JM Value Fund (Direct) launched on 1997-03-25, making it older than DSP Value Fund (launched 2020-11-20). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.