Mirae Asset MF launches BSE India Defence ETF, FoF: Should you invest?

Mirae Asset BSE India Defence ETF: Mirae Asset Investment Managers (India) has launched the Mirae Asset BSE India Defence ETF, an open-ended scheme tracking the BSE India Defence Total Return Index. It has also announced the Mirae Asset BSE India Defence ETF Fund of Fund (FoF), an open-ended fund of fund scheme investing in units of Mirae Asset BSE India Defence ETF. 

 

The ETF and FoF, which track the BSE India Defence Index, offer exposure to the entire defence manufacturing ecosystem, including key system integrators and platform enablers essential for indigenisation.

 

The BSE India Defence Index includes pure-play manufacturers, key system integrators, and defence ecosystem enablers essential for scaling domestic capabilities. With balanced exposure beyond defence PSUs, it reduces single-ownership risk while covering platforms, electronics, ammunition, systems integration, and manufacturing enablers, providing resilience across sub-segments.

 

 

The new fund offers (NFOs) for both the schemes will open for public subscription on Monday, February 2, 2026. The Mirae Asset BSE India Defence ETF subscription window will close on February 10, 2026, while the NFO for its FoF will end on February 16, 2026. Both schemes are set to reopen on February 16 and February 24, respectively

 

According to the scheme information document (SID), the minimum investment required during the NFO is ₹5,000, with additional investments allowed in multiples of ₹1 thereafter. 

 

An exit load of 0.05 per cent will be charged if units are redeemed or switched out within 15 days from the date of allotment. No exit load will be charged for redemptions or switches made after 15 days from the allotment date.

 

Ekta Gala and Akshay Udeshi are the designated fund managers for the scheme. 

 

Siddharth Srivastava, head of ETF products and fund manager at Mirae Asset, said India's defence spending has increased steadily over the years, alongside a strong push to indigenise defence production and make India Atmanirbhar. 

 

"Given India’s neighbourhood and the evolving geopolitical backdrop, it is imperative that the country maintains both defensive and offensive readiness through modernisation and localisation. Serving domestic requirements while also addressing export opportunities offers long-duration growth potential for Indian defence manufacturers,” he said. 

Who should invest in these funds?

According to the AMC, the Mirae Asset BSE India Defence ETF is suitable for investors seeking returns that align with the performance and investment in securities constituting the BSE India Defence Total Return Index. Additionally, Mirae Asset BSE India Defence ETF FoF is suitable for investors seeking long-term capital appreciation and investments in units of Mirae Asset BSE India Defence ETF. 

 

According to the risk-o-meter, the funds invested in both schemes will be at very high risk. As per the SID, investors should consult their financial advisors if in doubt whether the product is suitable for them.