Bandhan CRISIL IBX 90:10 SDL Plus Gilt – Sep 2027 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan CRISIL IBX 90:10 SDL Plus Gilt – Sep 2027 Index Fund Direct Growth Plan has an NAV of ₹13.1893 as of 17 Sep 2026 and a scheme AUM of ₹143 Cr. Its 1-year, 3-year and 5-year returns are 6.16%, 7.55% and 0%, and the risk category is Balanced Risk.
Our view is that this is a dated-income oriented index fund with a clear maturity profile around September 2027, so it fits better as a shorter-horizon debt allocation than as a broad market return engine. The portfolio is dominated by state development loans and government securities, which can support relatively steady behaviour, but the recent return pattern is still modest versus the benchmark.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.1893 as of 17 Sep 2026 |
| AUM | ₹143 Cr |
| Expense Ratio | 0.1% |
| Launch Date | 24 Nov 2022 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Gautam Kaul, Harshal Joshi |
The fund is managed by Gautam Kaul and Harshal Joshi.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.28% | -3.66% |
| 3M | 1.57% | -3.71% |
| 1Y | 6.16% | -7.13% |
| 3Y | 7.55% | 5.82% |
| 5Y | Data not available | Data not available |
The short-term picture is steadier than the benchmark. Over 1 month and 3 months, the fund stayed positive while the benchmark was negative, which points to lower day-to-day volatility in this window and a cleaner carry-led pattern.
The 1-year return of 6.16% also stands apart from the benchmark’s -7.13%, so the fund has held up much better over the latest year. That said, the 3-year return of 7.55% is only moderately ahead of the benchmark’s 5.82%, which tells us the stronger recent phase is not the same as a broad, high-growth compounding profile.
The longer series suggests a relatively uneven path rather than a smooth climb. The fund has recovered from earlier softness and improved into the latest periods, but the gains remain measured. For investors, that means the fund’s appeal lies more in schedule-driven fixed-income exposure and stability than in strong long-run return acceleration.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Bandhan CRISIL IBX 90:10 SDL Plus Gilt – Sep 2027 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 Bandhan CRISIL IBX 90:10 SDL Plus Gilt – Sep 2027 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan CRISIL IBX 90:10 SDL Plus Gilt – Sep 2027 Index Fund Direct Growth Plan | 6.16% | 7.55% | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.13% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.68% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 17.57% | 18.84% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund’s 1-year return is far below the faster-moving equity-oriented peers in this set, but that comparison is not the most relevant lens because its mandate is different. Against the available fixed-income style comparison set, the current fund’s 3-year return is more restrained, yet its recent stability is more visible than in the benchmark and is consistent with a gilt-plus-SDL structure. The short-term and longer-term comparisons tell different stories: the fund has been steadier lately, while the peer set includes much higher-return but very different risk profiles.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.33% Maharashtra SDL (MD 13/09/2027) | Government Securities | 20.37% |
| 7.18% Tamilnadu SDL (MD 26/07/2027) | Government Securities | 17.85% |
| 7.2% Maharashtra SDL (MD 09/08/2027) | Government Securities | 15.43% |
| 7.28% Madhya Pradesh SDL (MD 23/08/2027) | Government Securities | 14.03% |
| 7.25% Gujarat SDL (MD 12/07/2027) | Government Securities | 7.01% |
| 6.2% Rajasthan SDL (MD 29/07/2027) | Government Securities | 6.95% |
| 7.38% GOI (MD 20/06/2027) | Government Securities | 6.55% |
| 7.21% Tamilnadu SDL (MD 09/08/2027) | Government Securities | 3.51% |
| 8.49% Andhra Pradesh SDL (MD 21/08/2027) | Government Securities | 3.09% |
| Triparty Repo TRP_010926 | Cash & Cash Equivalents and Net Assets | 2.97% |
The largest holding is 7.33% Maharashtra SDL (MD 13/09/2027) at 20.37%, so one security is likely to have a meaningful influence on the portfolio’s path. The next few positions remain large as well, and the drop from the first holding to the tenth is still substantial, which tells us the portfolio is concentrated in a compact set of dated instruments rather than spread evenly across many small lines.
The top 10 holdings account for approximately 97.76% of the portfolio, and the fund discloses 12 holdings in total. That combination suggests a fairly tight structure with only a small tail beyond the main positions. For investors, this may improve visibility on what is driving returns, but it also means the portfolio will be shaped mainly by the behaviour of a handful of SDL and government security holdings.
Because the holdings all sit in government securities or cash and cash equivalents, the structure may behave more like a focused fixed-income basket than a diversified multi-sector fund. The maturity dates clustered around mid-to-late 2027 also support the idea that the portfolio is built around a defined time frame, which could make the fund more suitable for investors matching that horizon.
To see all holdings, visit the Bandhan CRISIL IBX 90:10 SDL Plus Gilt – Sep 2027 Index Fund Direct Growth Plan page
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors who are comfortable with a fixed-income style return pattern and can accept that results may not match equity-oriented peer funds. The Balanced Risk tag points to a moderate posture, but the portfolio itself is concentrated in SDLs and government securities, so the main trade-off is between relatively defined exposure and limited upside potential compared with faster-growing market funds.
The 3-year return is positive and the latest year has been steadier than the benchmark, which makes the fund more relevant for investors who want a shorter to medium horizon and prefer a dated-income structure. The 5-year figure is not available, so we do not see a full long-cycle record here. That means the cleanest fit is for investors who value visibility around the 2027 maturity window more than open-ended capital growth.
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 17 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan CRISIL IBX 90:10 SDL Plus Gilt – Sep 2027 Index Fund Direct Growth Plan?
The current NAV is ₹13.1893 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 6.16%, its 3-year return is 7.55%, and its 5-year return is not available.
How has the fund compared with the benchmark recently?
It has outperformed the benchmark over 1 month, 3 months and 1 year, while the 3-year return is also ahead of the benchmark. The gap is much wider over the latest 1-year period than over 3 years.
Which peer fund has the highest 1-year return in the peer set shown here?
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan shows the highest 1-year return among the listed peers at 29.31%. The peer set mixes very different strategies, so it is best read as a return comparison rather than a like-for-like category league.
Is there a minimum SIP for this fund?
Yes, the minimum SIP amount is ₹100.
What is the portfolio and exit-load setup?
The portfolio is dominated by SDLs and government securities, with the largest holding at 20.37%. There is no exit load, and the fund is managed by Gautam Kaul and Harshal Joshi.
Bottom line
This fund’s recent behaviour is steadier than its benchmark, but the longer view is more moderate and does not point to aggressive compounding. Against the peer set shown here, the return profile is clearly more restrained, which fits its government-securities-heavy structure rather than a high-growth equity style. The concentrated basket of SDLs and gilts, along with the 2027 maturity focus, makes it more relevant for investors who want a defined fixed-income exposure and can work with a narrower return range.
Published on 18 September 2026 at 8:52 AM 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.