Edelweiss Gilt Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Edelweiss Gilt Fund Direct Growth Plan has a NAV of ₹26.633 as of 10 Sep 2026 and a scheme AUM of ₹123 Cr. Its 1-year, 3-year and 5-year returns are 2.3%, 6.15% and 5.39% respectively, and the scheme is tagged as Medium Risk.
Our view is that this is a relatively steady gilt fund for conservative debt allocation, but its shorter-term return profile has been softer than its longer horizon. The portfolio is dominated by sovereign and SDL exposure, so the fund is built more around interest-rate and duration positioning than credit spread risk.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹26.633 as of 10 Sep 2026 |
| AUM | ₹123 Cr |
| Expense Ratio | 0.51% |
| Launch Date | 13 Feb 2014 |
| Min SIP | ₹100 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load |
| Fund Managers | Dhawal Dalal, Kedar Karnik |
The fund is managed by Dhawal Dalal and Kedar Karnik.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.16% | -4.06% |
| 3M | 1.32% | 1.37% |
| 1Y | 2.3% | -7.31% |
| 3Y | 6.15% | 6.07% |
| 5Y | 5.39% | 5.91% |
The one-month pattern looks soft, but the fund still held up better than the benchmark over that stretch because the benchmark fell more sharply. That tells us the recent move was weak in absolute terms, yet not especially poor on a relative basis.
Over three months, the fund and benchmark were close, which suggests the short-term backdrop has not created a wide separation in return behaviour. The one-year picture is stronger for the fund because it stayed positive while the benchmark was negative, so the scheme has protected capital better in a difficult environment for the reference index.
The longer view is more mixed. The 3-year return of 6.15% is slightly ahead of the benchmark’s 6.07%, while the 5-year return of 5.39% trails the benchmark’s 5.91%. Our read is that the fund has shown resilience in some market phases, but the benefit has not been consistent across the full five-year window.
The pattern in the return path is also important. The fund has had periods of recovery and small pullbacks rather than a smooth climb, which is normal for a gilt strategy that is sensitive to yield and duration moves. For investors, the key point is that the recent softness does not erase the steadier longer-term profile, but it does show that the fund is not immune to rate-driven volatility.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Edelweiss Gilt?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Edelweiss Gilt? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Edelweiss Gilt Fund Direct Growth Plan | 2.3% | 6.15% | 5.39% |
| Bandhan Gilt Fund Direct Growth Plan | 7.94% | 7.99% | 6.38% |
| Franklin India Gilt Fund Direct Growth Plan | 6.49% | 6.64% | 5.48% |
| UTI Gilt Fund Direct Growth Plan | 5.34% | 6.72% | 5.75% |
| Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan | 5.31% | 7.81% | 5.9% |
| ICICI Pru Gilt Fund Direct Growth Plan | 5.22% | 7.25% | 6.62% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On recent numbers, the fund’s 1-year return is clearly below the peer group figures listed here, while the benchmark comparison still looks better because the fund stayed positive and the benchmark was negative. That creates a split picture: weaker than peers on the latest one-year measure, but not weak relative to the benchmark backdrop.
Across three and five years, the fund sits in the middle of the pack on the available return figures. It is ahead of some peers on 3-year performance, but behind several others on both 3-year and 5-year returns. The longer horizon therefore looks respectable rather than standout, and the peer set tells us the scheme has not consistently matched the stronger gilt funds on returns.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.24% Govt of India Red 18-08-2055 | Government Securities | 35.19% |
| 6.94% Govt of India Red 11-05-2036 | Government Securities | 32.86% |
| 7.48% Karnataka SDL Red 18-02-2037 | Government Securities | 12.04% |
| 6.9% Govt of India Red 15-04-2065 | Government Securities | 11.06% |
| 6.68% Govt of India Red 07-07-2040 | Government Securities | 3.92% |
| Clearing Corporation of India Ltd. | Cash & Cash Equivalents and Net Assets | 2.93% |
| Accrued Interest | Cash & Cash Equivalents and Net Assets | 1.19% |
| 7.49% Karnataka SDL Red 04-02-2035 | Government Securities | 0.77% |
The largest holding is 7.24% Govt of India Red 18-08-2055 at 35.19%, so it is likely to have greater influence on the fund’s interest-rate profile than any other single position. The next holding is also large at 32.86%, which means the top two positions together already account for a substantial part of what is shown here.
Weight then falls to 12.04% and 11.06%, before dropping sharply into the low-single-digit range. By the time we reach the smaller positions, the weights are under 4%, which suggests the portfolio is layered around a few dominant sovereign exposures rather than spread evenly across many similar-sized bets. That structure can make performance more sensitive to the direction of government bond yields.
These eight disclosed holdings together account for 99.96% of the portfolio, and the total disclosed holding count is 8. In practical terms, that means the portfolio is very concentrated within a small set of government securities and cash-like lines, with little room for any single smaller position to change the overall shape materially.
Source data date: as of 10 Sep 2026
Who should invest
This fund suits investors who are comfortable with medium risk and want exposure to sovereign debt rather than corporate credit. The 1-year return has been weaker than the longer-term pattern, but the 3-year and 5-year figures show that the fund has been capable of steadier compounding over time.
We think the better fit is for an investor with a multi-year horizon who can tolerate rate-related swings along the way. The main trade-off is that the fund’s portfolio concentration in government securities can support stability from a credit-quality perspective, but it also leaves returns dependent on bond-market movements, so short periods can look uneven.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of Edelweiss Gilt Fund Direct Growth Plan?
Its current NAV is ₹26.633 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 2.3% for 1 year, 6.15% for 3 years and 5.39% for 5 years.
How has the fund performed versus its benchmark?
It beat the benchmark over 1 year and 3 years, while trailing it over 5 years. Over 1 month and 3 months, the gap has been narrow.
How does the fund compare with peer gilt funds on recent returns?
Its 1-year return is below the listed peers, while the 3-year and 5-year figures sit in the middle of the peer set rather than at the stronger end.
What is the minimum SIP for this fund?
The minimum SIP is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Dhawal Dalal and Kedar Karnik. The exit load is no exit load.
Bottom line
Edelweiss Gilt Fund Direct Growth Plan has a softer recent return profile than its longer-term pattern, but it still shows some resilience against the benchmark in weaker market phases. In the peer set, the latest one-year return is behind several comparables, while the 3-year and 5-year figures are more balanced. The portfolio is heavily tilted toward government securities, which supports a credit-quality focus but keeps the fund exposed to bond-market movements. That makes it more suitable for investors who want conservative debt exposure and can stay invested through rate cycles.
Published on 11 September 2026 at 1:17 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.