HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan sits in the index-fund bucket with a Balanced Risk label. Its NAV is ₹10.9834 as of 15 Sep 2026, and its scheme AUM is ₹2,264 Cr. The fund’s 1-year, 3-year and 5-year returns are 7.14%, 0% and 0%, respectively.
Our view is that this is a short-duration debt index fund with limited history, so the recent return trend matters more than any long-horizon record. The portfolio is built around corporate debt and certificates of deposit, which can help keep behaviour more predictable than equity-linked funds, but the current track record is still early.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.9834 as of 15 Sep 2026 |
| AUM | ₹2,264 Cr |
| Expense Ratio | 0.12% |
| Launch Date | 06 May 2025 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Anupam Joshi |
The fund is managed by Anupam Joshi.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.49% | -4.81% |
| 3M | 1.84% | -3.63% |
| 1Y | 7.14% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is steadier than the benchmark’s, which has been negative across 1 month, 3 months and 1 year. That gap suggests the fund has held up better than the benchmark in a weak phase, even though absolute returns remain modest because this is a debt index strategy with a short operating history.
The 1-year figure is the most useful evidence here because the fund has not yet built a 3-year or 5-year record. The 1-year return of 7.14% is clearly ahead of the benchmark’s -8.27%, and the 3-month return of 1.84% also compares well with the benchmark’s -3.63%. That tells us the fund has been more resilient than the benchmark over the recent period rather than simply moving in lockstep.
The monthly series does not show the kind of sharp swings that would be typical of equity-oriented products, but it also does not point to strong compounding. Our read is that this is a stability-first return profile, where the main appeal is smoother short-term behaviour relative to the benchmark rather than high growth. Because the scheme is still young, investors should treat the record as emerging rather than established.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index?
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 HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan | 7.14% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.71% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.15% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 18.11% | 18.92% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the numbers available, the fund’s 1-year return is below the peer set shown here, while some peers have delivered much stronger recent gains. That said, the peers are from different index themes, so the comparison is most useful for context on recent return strength rather than as a like-for-like category judgment.
For longer horizons, the fund currently has no 3-year or 5-year track record to compare, while one peer does show a positive 3-year figure and another shows a strong 3-year figure as well. The short-term picture and the longer-term picture therefore tell different stories: this fund’s record is newer and more defensive, while several peers have already built more visible multi-year performance histories.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 8.95% Bharti Telecom Limited | Corporate Debt | 9.74% |
| 7.55% REC Limited.^ | Corporate Debt | 8.84% |
| Bank of Baroda | Certificate of Deposit | 8.77% |
| Axis Bank Ltd.^ | Certificate of Deposit | 7.61% |
| Canara Bank | Certificate of Deposit | 7.60% |
| 7.41% Indian Railways Finance Corp. Ltd.^ | Corporate Debt | 7.29% |
| Indian Bank | Certificate of Deposit | 6.52% |
| Small Industries Development Bank^ | Certificate of Deposit | 5.22% |
| 6.4% LIC Housing Finance Ltd. | Corporate Debt | 4.85% |
| Union Bank of India^ | Certificate of Deposit | 4.41% |
The largest holding is 8.95% Bharti Telecom Limited at 9.74%, which is meaningful but not extreme for a debt index portfolio. The gap from the first holding to the tenth is not steep enough to suggest a single-position story; instead, the weights step down gradually through bank deposits and corporate debt names.
The top 10 holdings account for approximately 70.85% of the portfolio, and the fund discloses 28 holdings in total. That mix suggests a fairly concentrated core with a longer tail of smaller positions beyond the top group. In our view, that structure may make the top holdings especially important to day-to-day behaviour, while still leaving room for diversification across a broader basket.
Because the fund is concentrated in financial-services-related debt and certificate-of-deposit exposures, the portfolio may behave more like a short-duration credit and rate product than a broad market portfolio. That is useful context for investors who want a debt allocation with defined holdings and a visible core, rather than a very diffuse structure.
To see all holdings, visit the HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan page
Source data date: as of 15 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with a Balanced Risk profile and want a debt-oriented allocation with a short-duration flavour. The recent return record has been positive, but the scheme is still young, so it does not yet offer a long multi-year history to lean on.
It can fit an investment horizon where the main goal is steadier behaviour and benchmark resilience rather than high growth. The main trade-off is that the fund has so far shown modest absolute returns even while holding up better than the benchmark in recent periods, so expectations should remain aligned with a conservative debt-style outcome.
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 15 Sep 2026
Frequently asked questions
What is the current NAV of HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan?
The NAV is ₹10.9834 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 7.14%, while the 3-year and 5-year returns are both Data not available because the scheme is still early in its history.
How does the fund compare with its benchmark?
The fund has been ahead of the benchmark in the periods shown. Its 1-month return is 0.49% versus the benchmark’s -4.81%, its 3-month return is 1.84% versus -3.63%, and its 1-year return is 7.14% versus -8.27%.
Which peer has the highest 1-year return in the comparison shown?
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan shows the highest 1-year return in the comparison at 29.31%. Several peers in the table also show much stronger recent returns than this fund.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund, and what exit load applies?
The fund is managed by Anupam Joshi. It has no exit load.
Bottom line
This is a new debt index fund with a short record, so the recent return pattern matters more than longer-term history. It has held up better than the benchmark in the periods shown, but its absolute returns are still modest and its 3-year and 5-year records are not yet available. The portfolio is built around a relatively concentrated set of corporate debt and certificate-of-deposit holdings, which may make the core positions influential. For investors looking for a debt allocation with a Balanced Risk profile and no exit load, the fit is more about steadiness than high growth.
Published on 16 September 2026 at 4:31 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.