BHARAT Bond ETF FOF – April 2033 Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
BHARAT Bond ETF FOF – April 2033 Direct Growth Plan currently has a NAV of ₹13.1086 as of 16 September 2026 and scheme AUM of ₹2,089 Cr. Its 1-year, 3-year and 5-year returns are 4.43%, 7.26% and 0%, and the fund sits in the Medium Risk category.
Our view is that this is a fairly restrained debt-oriented allocation for investors who want lower volatility than equity-heavy funds and can live with modest return expectations. The fund’s portfolio is almost entirely invested in a single Bharat Bond ETF holding, so the return pattern is likely to be driven mainly by the underlying fixed-income exposure rather than broad diversification.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.1086 as of 16 Sep 2026 |
| AUM | ₹2,089 Cr |
| Expense Ratio | 0.09% |
| Launch Date | 14 Dec 2022 |
| 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 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.58% | -3.66% |
| 3M | 1.17% | -3.71% |
| 1Y | 4.43% | -7.13% |
| 3Y | 7.26% | 5.82% |
| 5Y | Data not available | Data not available |
The recent pattern is steadier than the benchmark’s, especially over 1 month and 3 months. The fund has still been mildly negative over 1 month, but that decline is much smaller than the benchmark’s drop, and the 3-month result is comfortably positive while the benchmark remains negative.
Over 1 year, the fund has held up better than the benchmark by a wide margin. That tells us the strategy has been more defensive than the Nifty 50 over the past year, which fits a bond-linked fund more naturally than an equity benchmark.
The longer view is different. At 3 years, the fund’s return is positive, but it is only modestly ahead of the benchmark’s 3-year figure. That suggests the fund has produced a smoother profile rather than a sharply stronger one. Since there is no 5-year figure available, we place more weight on the 3-year pattern and the recent stability.
The time pattern also looks gradual rather than explosive. That usually suits investors who care more about consistency and capital preservation than about chasing fast upside.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD BHARAT Bond ETF FOF – April 2033?
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 2033? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| BHARAT Bond ETF FOF – April 2033 Direct Growth Plan | 4.43% | 7.26% | 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 | 35.4% | 35.95% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On recent returns, this fund trails the silver and gold FoF peers by a very wide margin, which is expected because those peers sit in a very different return environment. The main comparison point for this fund is not short-term upside but steadier income-linked behaviour.
Against the available longer-horizon figures, its 3-year return is far below the stronger gold and silver peers, yet the comparison is not very informative for style-mixing reasons. The more useful takeaway is that the fund has been much more restrained than those peers, with a smoother profile that will appeal to a different type of investor.
The short-term and longer-term stories therefore diverge. In the near term, the fund looks stable rather than exciting; over 3 years, it has compounded positively, but without the scale of growth seen in commodity-linked FoFs. That makes the fund more of a stability-oriented allocation than a return-chasing one.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Bharat Bond ETF – April 2033 | Domestic Mutual Funds Units | 99.36% |
| Clearing Corporation of India Ltd. | Cash & Cash Equivalents and Net Assets | 0.66% |
The largest holding is overwhelmingly dominant at 99.36%, which means the fund is almost entirely exposed to a single underlying position. That makes the portfolio simple to understand, but it also means the fund’s behaviour may closely track that one asset rather than a broad basket of securities.
The drop from the first holding to the second is extremely steep. With only 0.66% in cash and related net assets, there is very little visible spread across other positions, and the disclosed holdings count is just two. On the face of it, that leaves very limited room for diversification within the visible portfolio.
Because the two disclosed holdings together account for 100% of the portfolio, the fund appears highly concentrated in practice. That concentration may be acceptable for investors who want targeted exposure to the underlying bond ETF structure, but it could matter for anyone expecting a longer tail of different holdings to smooth outcomes.
Source data date: as of 16 Sep 2026
Who should invest
This fund may suit investors with a moderate risk tolerance who are looking for a debt-oriented allocation rather than an equity-style growth engine. The Medium Risk label, the steady though modest return profile, and the benchmark comparison all point to a fund that is more about stability than aggressive upside.
The better fit is likely to be a medium- to longer-term horizon, especially for investors who can stay patient through short periods of mild NAV movement. The main trade-off is that the fund may help reduce volatility, but it does not offer the kind of return profile that equity or commodity FoFs have shown in the available comparisons.
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 30D.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of BHARAT Bond ETF FOF – April 2033 Direct Growth Plan?
The current NAV is ₹13.1086 as of 16 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.43%, its 3-year return is 7.26%, and its 5-year return is Data not available.
How has the fund done versus the benchmark?
It has done better than the Nifty 50 over 1 month, 3 months and 1 year, while the 3-year figure is also ahead of the benchmark but by a smaller margin.
How does it compare with the peer funds listed here?
Its recent return is far below the silver and gold FoF peers shown here, while its 3-year return is also much lower than the available 3-year figures for some of those peers.
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. Exit load is 0.10% on or before 30D, and there is no exit load after 30D.
Bottom line
This fund has shown a steadier pattern than the benchmark over the recent periods, and its 3-year return is positive, but it does not stand out on headline return compared with the peer funds shown here. The risk label is Medium Risk, which fits a debt-linked fund with modest but stable-looking movement. The key portfolio feature is concentration: almost all of the visible exposure sits in one underlying holding. That makes the fund more suitable for investors who value predictability over high growth.
Published on 18 September 2026 at 9:02 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.