A 39% five-year return does not show that the rally will continue. Mirae Asset NYSE FANG+ ETF Fund of Fund invests predominantly in units of the manager’s NYSE FANG+ ETF, which tracks a concentrated, equal-weighted index of growth stocks. That structure can deliver strong gains when its holdings rise, but also leaves investors exposed to sharp reversals in a narrow set of companies and sectors. The exact five-year figure depends on the plan and valuation date; secondary sources report different numbers.
What is the Mirae Asset NYSE FANG+ ETF FoF invested in?
This is a fund of funds, not a broad-market equity fund. Mirae Asset’s May 2026 passive factsheet lists the FoF and the underlying Mirae Asset NYSE FANG+ ETF as separate schemes; the FoF invests predominantly in units of that ETF. SEBI’s scheme listing also identifies the FoF. Mirae Asset May 2026 passive factsheet SEBI scheme listing
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The underlying ETF tracks the NYSE FANG+ Index. The scheme document describes it as an equal-dollar-weighted index of growth stocks associated with technology and consumer discretionary sectors; Intercontinental Exchange (ICE) describes it as an equal-weighted index of ten highly traded growth stocks. Equal weighting limits dependence on the largest company by market value, but it does not make the portfolio broadly diversified or remove company, sector, valuation, or equity-market risk. Mirae Asset scheme document ICE NYSE FANG+ Index
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The headline does not specify a plan, valuation date, or return calculation. Two secondary sources give different five-year figures for the Direct-Growth plan:
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- MutualFundsByCAGR reports a 39.2% five-year CAGR for Direct Plan Growth on its current domestic FoF category page. MutualFundsByCAGR
- Policybazaar reports a 34.77% five-year return for Direct-Growth using scheme data dated August 31, 2026. Policybazaar
The figures may use different valuation dates or calculation conventions. Neither should be treated as the verified official current return. For a precise figure, consult a dated fund-manager factsheet and identify the plan, end date, and whether the result is CAGR. Direct and Regular plans should not be mixed, and a scheme return should be compared with its appropriate benchmark over the same interval.
MutualFundsByCAGR also reports a 9.5% median five-year CAGR among the 126 domestic FoF schemes it tracks. That is a third-party category statistic, not an official benchmark or a like-for-like comparison of risk; it cannot establish that this scheme is attractive or that its gains will persist. MutualFundsByCAGR
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What the index’s history can—and cannot—tell you
ICE reports a 27.41% annualized total return for the NYSE FANG+ Index from September 19, 2014, to June 30, 2026. This is the index’s result over that stated period, not the FoF’s five-year CAGR. It does not account for the fund wrapper’s expenses or tracking, and it is not a forecast. ICE NYSE FANG+ Index
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Past performance may show how the index behaved through a particular stretch of market conditions. It cannot establish that the same pace will continue: future results depend on the underlying companies, their valuations, and broader equity-market conditions.
How concentration and quarterly rebalancing affect risk
The benchmark’s equal weighting is not the same as diversification across the market. A ten-stock index focused on growth companies in technology and consumer discretionary can be sensitive to changes in sentiment, valuations, and conditions affecting those sectors. A strong period for a few holdings can lift returns, while a reversal affecting the group can weigh on the index.
The scheme document describes screening and constituent selection at quarterly rebalances, when weights are reset. Membership and exposure can therefore change over time. Check current scheme holdings before relying on any company list: examples in older documents may no longer be constituents. Mirae Asset scheme document
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How to assess the scheme rather than chase a headline
Before interpreting a five-year return, check the current official scheme disclosures and make comparisons on consistent terms:
- Use the same start and end dates for the scheme and benchmark.
- Keep Direct and Regular plans separate.
- Confirm whether each figure is CAGR or an absolute return.
- Compare scheme returns with the appropriate benchmark’s total return for the same period.
- Consider the index’s concentration and sector exposure, not just its past performance.
- Check current official documents for costs and tracking; do not assume an index return equals the investor’s scheme return.
The available figures establish that the benchmark has had a strong historical period and that third-party five-year scheme figures vary. They do not establish that the FoF’s recent pace is sustainable. Whether its concentrated exposure suits an investor depends on that investor’s objectives, risk tolerance, and broader portfolio.
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