Axis CRISIL IBX SDL May 2027 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis CRISIL IBX SDL May 2027 Index Fund Direct Growth Plan has a NAV of ₹13.2294 as of 28 Aug 2026 and scheme AUM of ₹1,862 Cr. Its 1-year, 3-year and 5-year returns are 6.2987%, 7.5796% and 0% respectively, and the scheme is in the Balanced Risk category. Our view is that this is a steadier index-style debt-oriented option rather than a growth-oriented equity fund, so it fits investors who want defined portfolio exposure and can accept moderate variation in returns.

The fund’s return pattern is stronger over 3 years than over 1 year, while the 5-year figure is not available as a meaningful history point for this scheme. The portfolio is almost fully concentrated in government securities, which gives the fund a clear interest-rate and state-security profile.

Quick facts

The fund is managed by Hardik Shah and Aditya Pagaria.

Source data date: as of 28 Aug 2026

Performance

Over the most recent month, the fund was modestly positive while the benchmark was still negative, which suggests the scheme held up better in the short run. That is useful for investors who value smoother movement over sudden spikes, but it also shows that short-term outcomes can differ meaningfully from the broader trend.

Over 3 months, the benchmark moved ahead of the fund, so the recent picture is mixed rather than one-sided. Even so, the fund’s own 1-year return is positive while the benchmark remains negative, which tells us the scheme has been more resilient across the last year than the benchmark path suggests.

The 3-year return is slightly ahead of the benchmark and supports a steadier longer-term pattern. The time pattern also looks gradual rather than sharp, which is consistent with a government-securities-heavy portfolio where returns usually reflect carry and interest-rate movements more than aggressive market swings.

The 5-year row is not a useful comparison point here, so we would place more weight on the 1-year and 3-year figures when assessing consistency. Taken together, the scheme has been ahead of the benchmark over 1 year and 3 years, but the most recent 3-month stretch shows that relative performance can still fluctuate.

Source data date: as of 28 Aug 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On the available 1-year comparison, this fund trails the much stronger recent returns shown by the equity-oriented peer set, but the comparison is not apples-to-apples because those peers track very different market segments. Within its own kind of longer-horizon debt-oriented path, the fund’s 3-year return is stable and slightly ahead of the benchmark shown above, which is more relevant for understanding how it has behaved in its intended lane.

The peer table also shows a clear difference between short-term and longer-term comparisons. Several peers have no usable 3-year or 5-year figures, so the 1-year reading is the main common comparison point, while this fund’s longer history gives a better sense of consistency. That makes the fund’s return profile more measured than the peer group’s headline 1-year numbers.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution

Sector allocation

The portfolio is almost entirely in the “other” bucket, which fits a debt index structure rather than an equity style mix. That means the usual large-cap, mid-cap and small-cap labels do not describe the fund’s exposure well here, because the scheme is built around government securities and cash equivalents.

Government securities dominate the fund at 96.98%, while cash and cash equivalents account for 3.02%. The gap is very wide, so the government-securities bucket is likely to have the greatest influence on how the portfolio behaves.

Within that bucket, the two listed state development loans form the main named positions, with 25.57% and 17.6% weights. Because the sector is already highly concentrated, changes in government bond yields and state-security pricing may matter more to outcomes than anything else in the portfolio.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with a Balanced Risk profile and who want exposure that is more defined by government securities than by equity-style market swings. The return pattern shows moderate gains over 1 year and 3 years, with the 3-year trend slightly ahead of the benchmark and the most recent month still positive.

The main trade-off is that the portfolio is concentrated in a narrow fixed-income style structure, so returns are likely to be steadier than equity funds but also less explosive than the strongest peer comparisons shown here. A medium- to longer-term horizon is more sensible than a very short holding period, especially if the investor wants the 3-year pattern to matter more than month-to-month movement.

Tax and exit load

Exit load

No exit load.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Axis CRISIL IBX SDL May 2027 Index Fund Direct Growth Plan?

The current NAV is ₹13.2294 as of 28 Aug 2026.

What are the fund’s recent returns?

Its 1-year return is 6.2987%, its 3-year return is 7.5796%, and its 5-year return is not available as a meaningful history point in the current data.

How has it done against the benchmark?

It has been ahead of the benchmark over 1 year and 3 years. Over 3 months, however, the benchmark has done better, so the comparison has not been one-way across all periods.

What is the minimum SIP amount?

The minimum SIP amount is ₹1000.

What is the risk category of this fund?

The fund is in the Balanced Risk category. That fits a portfolio built mainly around government securities and cash equivalents rather than equity exposure.

Who manages the fund and is there an exit load?

The fund is managed by Hardik Shah and Aditya Pagaria. There is no exit load.

Bottom line

This fund’s short-term pattern is mixed, but its 1-year and 3-year returns show a steadier profile than the benchmark it is compared with. It also stands apart from the peer set because those peers are tied to very different market themes, while this scheme is anchored almost completely in government securities. The Balanced Risk tag and the narrow portfolio mix point to a measured, interest-rate-sensitive product that is more about stability of structure than aggressive return chasing.

Published on 31 August 2026 at 5:34 PM IST