The Mirae Asset NYSE FANG+ ETF Fund of Funds has emerged as the best-performing overseas mutual fund with a 2.7% return over the past month. Managing assets worth ₹2,388.5 crore, the scheme has shown strong consistency across six-month and three-year periods. Investors should note that overseas funds carry currency risk and exposure to concentrated global tech stocks.
Detailed Coverage
The Mirae Asset NYSE FANG+ ETF Fund of Funds (FoF) has taken the lead among overseas mutual fund schemes, recording a 2.7 percent return for the one-month period ending July 26, 2026. This performance stands out within the category of overseas funds that manage assets exceeding ₹1,500 crore, according to data from ACE MF.
Comparison With Peers
When looking at funds of similar scale, the Mirae Asset offering has outperformed peers such as the Axis Global Equity Alpha FoF, which returned 2.6 percent, and the HDFC Developed World Overseas Equity Passive FOF, which posted a 2.2 percent return during the same month. While the Mirae Asset fund leads in the one-month, six-month, and three-year windows, investor performance can vary significantly depending on the timeframe. For instance, the Axis Greater China Equity FoF has held the top spot for one-year returns, delivering 32.1 percent.
Understanding the Benchmark Gap
The fund’s performance is notable for its variance from its benchmark index. Over the last month, the fund delivered a 2.7 percent return while its benchmark stood at 0.0 percent. This trend of outperformance is also visible over a longer duration; the fund recorded a return of 28.5 percent over one year, against its benchmark's 4.4 percent gain, representing a difference of 24.1 percentage points.
Investor Context and Risks
Investors considering this fund should be aware of the specific nature of its holdings. The fund invests primarily in the FANG+ index, which is heavily concentrated in a small group of major US technology companies. This means the fund’s performance is highly dependent on the stock price movements of a few large firms.
Additionally, unlike domestic mutual funds, overseas funds are subject to currency fluctuations. If the Indian Rupee strengthens against the US Dollar, the value of international investments in rupee terms can decrease, even if the underlying US stocks perform well. Taxation on these funds also differs from pure equity funds, as they are typically treated as debt-oriented funds for tax purposes under current Indian regulations.
Future performance will depend on the continued growth of the global technology sector and the stability of the USD-INR exchange rate. Investors often track these funds to gain exposure to foreign markets, but it is important to balance this with a domestic portfolio to manage overall volatility.