BHARAT Bond ETF FOF – April 2032 – Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
BHARAT Bond ETF FOF – April 2032 – Direct Growth Plan has a NAV of ₹13.36 as of 15 September 2026 and scheme AUM of ₹4,209 Cr. Its 1-year, 3-year and 5-year returns are 4.25%, 7.24% and 0% respectively, and the scheme sits in the Medium Risk category. Our view is that this is best read as a steady, debt-oriented allocation rather than a return-chasing fund, with the portfolio design and modest return profile fitting conservative investors who value clarity over excitement.
It has a very low expense ratio at 0.08% and a single underlying holding, so the structure is simple. That simplicity can help keep the return pattern closely tied to the bond exposure inside the ETF FOF, while also limiting diversification at the holding level.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.36 as of 15 Sep 2026 |
| AUM | ₹4,209 Cr |
| Expense Ratio | 0.08% |
| Launch Date | 15 Dec 2021 |
| Min SIP | ₹100 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Others |
| Exit Load | 0.10% on or before 30D, Nil after 30D |
| Fund Managers | Hetul Raval, Rahul Dedhia |
The fund is managed by Hetul Raval and Rahul Dedhia.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.33% | -4.41% |
| 3M | 0.51% | -3.60% |
| 1Y | 4.25% | -7.76% |
| 3Y | 7.24% | 5.74% |
| 5Y | Data not available | Data not available |
The short-term pattern has been softer in the most recent month, but the fund still held up better than the benchmark over that same window. Over three months, it moved back into positive territory while the benchmark remained negative, which suggests a more stable near-term path than the index.
The one-year figure is more important for this scheme because it gives a cleaner picture of how the fund has behaved through a longer stretch. A 4.25% return over one year is modest, but it is materially better than the benchmark’s negative reading over the same period. That gap matters because it shows the fund has not simply tracked the benchmark’s weakness.
Looking at the three-year trend, the fund’s 7.24% return is ahead of the benchmark’s 5.74%. The return history points to a relatively controlled compounding pattern rather than sharp swings, which is consistent with a bond-linked structure. We do not see a strong late-cycle acceleration; instead, the profile is one of gradual progress with periodic softness.
For investors, the main takeaway is that the fund has been steadier than the benchmark across the measured periods, even though absolute returns remain moderate. That makes the return profile more suitable for capital preservation and measured growth than for aggressive upside seeking.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD BHARAT Bond ETF FOF – April 2032 -?
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 BHARAT Bond ETF FOF – April 2032 -? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| BHARAT Bond ETF FOF – April 2032 – Direct Growth Plan | 4.25% | 7.24% | Data not available |
| DSP Silver ETF FoF Direct Growth Plan | 74.79% | Data not available | Data not available |
| UTI Silver ETF FoF Direct Growth Plan | 73.31% | 45.21% | Data not available |
| ICICI Pru Silver ETF FOF Direct Growth Plan | 72.38% | 45.03% | Data not available |
| Tata Silver ETF FoF Direct Growth Plan | 69.73% | Data not available | Data not available |
| UTI Gold ETF FoF Direct Growth Plan | 35.40% | 35.95% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. Against the five peers listed here, the fund’s one-year return is far lower, which is consistent with its debt-oriented profile rather than a metals-linked growth profile. The more useful comparison is on the longer horizon: its 3-year return of 7.24% is also well below the 3-year figures available for the silver and gold FoFs, but those funds sit in a very different return environment. So the short-term comparison looks weak in absolute terms, while the longer-term comparison still reflects a calmer, more restrained path.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| BHARAT BOND ETF–APRIL 2032-GROWTH | Domestic Mutual Funds Units | 99.87% |
The portfolio is highly concentrated because the single disclosed holding accounts for 99.87% of the assets, and there is only one disclosed holding in the article-safe holdings list. That means the fund’s outcome is likely to be influenced mainly by one underlying position, with very limited scope for diversification at the visible holding level.
Because the only holding carries virtually the entire weight, there is no drop-off across multiple positions inside the disclosed holdings list. In practical terms, the portfolio is simple to understand, but it also means investors are taking exposure to a very narrow set of assets through the ETF FOF wrapper.
This concentration can be appropriate for investors who specifically want a bond-linked core holding and are comfortable with a narrow structure. It may be less appealing for investors looking for portfolio spread across multiple holdings or multiple sectors.
Source data date: as of 15 Sep 2026
Who should invest
This fund may suit investors with a conservative to moderately conservative risk tolerance who want a bond-oriented allocation with a simple structure. The Medium Risk label, modest return profile and short-term softness all point to a scheme that is better matched to investors looking for steadier outcomes than to those seeking strong capital appreciation.
The clearer fit is for a medium- to longer-term horizon, where the focus is on measured compounding rather than headline-grabbing upside. The main trade-off is that the fund has been steadier than the benchmark, but its absolute returns have remained modest, so investors must be comfortable accepting lower upside in exchange for a more restrained path.
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 applies at 0.10% on or before 30D, and there is no exit load after the holding period.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of BHARAT Bond ETF FOF – April 2032 – Direct Growth Plan?
Its NAV is ₹13.36 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 4.25% and its 3-year return is 7.24%. The 5-year return is not available because the scheme has not completed that full period in the current record.
How does it compare with the benchmark?
It has been ahead of the benchmark across the listed periods. The fund’s 1M, 3M, 1Y and 3Y returns are better than the benchmark’s corresponding figures.
How does it compare with peer funds?
Its one-year return is much lower than the peer FoFs listed here, which mostly have silver or gold exposure. Its 3-year return is also lower than the peers with available 3-year figures, but the comparison is across very different underlying strategies.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Hetul Raval and Rahul Dedhia. The exit load is 0.10% on or before 30D, and nil after 30D.
Bottom line
BHARAT Bond ETF FOF – April 2032 – Direct Growth Plan has a steadier return pattern than its benchmark, with the one-year and three-year numbers both staying positive and ahead of the index. Against the peer funds listed here, its returns are much lower, but that is in line with a bond-linked structure rather than a metals-led growth strategy. The single disclosed holding makes the portfolio unusually concentrated, so the scheme is best understood as a focused, simple allocation for investors who accept modest upside in exchange for a more restrained path.
Published on 17 September 2026 at 12:56 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.