Helios Flexi Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Helios Flexi Cap Fund Direct Growth Plan has a NAV of ₹15.89 as of 17 September 2026 and an AUM of ₹8,747 Cr. Its 1-year, 3-year and 5-year returns are 2.8%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that the fund currently looks better suited to investors who can accept uneven short-term outcomes while looking for a flexi-cap portfolio with a broad, actively managed mix of holdings.
The fund has stayed close to a cautious, stock-specific style rather than a smooth compounding path. That makes it more appropriate for longer horizons and for investors who are comfortable with a volatile journey and a benchmark-relative path that can move around meaningfully.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹15.89 as of 17 Sep 2026 |
| AUM | ₹8,747 Cr |
| Expense Ratio | 0.45% |
| Launch Date | 13 Nov 2023 |
| Min SIP | ₹1,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | Nil upto 10% of units and 1% for remaining units on or before 3M, Nil after 3M |
| Fund Managers | Alok Bahl, Pratik Singh |
The fund is managed by Alok Bahl and Pratik Singh.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.03% | -3.66% |
| 3M | 0.76% | -3.71% |
| 1Y | 2.8% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Over the last month, the fund fell, but it held up better than the benchmark because the benchmark slipped more. That relative resilience matters, because it suggests the portfolio has not simply followed the index down in the very latest stretch.
The 3-month picture is more constructive. The fund moved into positive territory while the benchmark stayed negative, so the gap in short-term behaviour widened in the fund’s favour. Even so, the path was not linear, and the daily pattern indicates an uneven recovery rather than a clean upward trend.
The 1-year return is still modest at 2.8%, but it is clearly ahead of the benchmark’s -7.13% for the same period. That means the fund has done a better job of preserving capital over the past year than the Nifty 50, though the absolute return is not strong enough to call the compounding pattern robust yet.
The longer view is limited by the fund’s short history, so the available performance record does not yet support a confident judgement on 3-year or 5-year compounding. For now, our view is that recent relative strength is real, but it has not been backed by a long and steady track record.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Helios Flexi Cap?
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 Helios Flexi Cap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Helios Flexi Cap Fund Direct Growth Plan | 2.8% | Data not available | Data not available |
| Bank of India Flexi Cap Fund Direct Growth Plan | 10.1% | 18.09% | 16.01% |
| ITI Flexi Cap Fund Direct Growth Plan | 9.54% | 17.61% | Data not available |
| Navi Flexi Cap Fund Direct Growth Plan | 7.9% | 10.18% | 10.89% |
| LIC MF Multi Cap Fund Direct Growth Plan | 7.11% | 17.04% | Data not available |
| Aditya Birla SL Flexi Cap Fund Direct Growth Plan | 5.94% | 13.33% | 10.98% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is below all five peers listed here, while the peers with available 3-year figures also show stronger medium-term numbers. That creates a clear gap in current performance quality, even though the fund is ahead of the benchmark in the most recent periods.
The longer-horizon peer picture is mixed because not every comparator has 5-year data, but where that figure is available, the peers are ahead on absolute returns. So the short-term comparison tells a different story from the benchmark comparison: the fund is beating the index, yet it is still lagging several peer schemes on the same time frames.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eternal Ltd. | Retailing | 4.4% |
| TREPS | Cash & Cash Equivalents and Net Assets | 4.16% |
| ICICI Bank Ltd. | Bank | 3.9% |
| One 97 Communications Ltd. | IT | 3.79% |
| Adani Ports and Special Economic Zone Ltd. | Logistics | 3.31% |
| State Bank of India | Bank | 2.83% |
| Bajaj Finance Ltd. | Finance | 2.74% |
| Ather Energy Ltd. | Domestic Equities | 2.66% |
| Adani Enterprises Ltd. | Trading | 2.62% |
| HDFC Bank Ltd. | Bank | 2.59% |
The top 10 holdings account for approximately 33% of the portfolio.
To see all holdings, visit the Helios Flexi Cap Fund Direct Growth Plan page
The largest holding is Eternal Ltd. at 4.4%, which is meaningful but not overwhelming on its own. The gap from the first position to the tenth is moderate rather than extreme, with the top positions clustered in a fairly narrow band between 4.4% and 2.59%.
That pattern suggests the portfolio may not depend on a single dominant stock. Instead, influence is spread across several individual positions, while the 33% combined weight of the displayed top holdings indicates that these larger positions still matter for portfolio behaviour.
With 65 disclosed holdings and more names beyond the top 10, the fund appears to be built with a longer tail rather than a very concentrated core. That could help diversify single-stock impact, although the listed holdings still show enough weight in the leading positions to have greater influence on returns.
Source data date: as of 17 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with High Risk and can stay invested for a longer horizon. The one-year return is positive but modest, and the short track record means the portfolio has not yet built a long, steady compounding history.
The main trade-off is clear: the fund has recently held up better than the benchmark, but peer funds with similar mandates have shown stronger numbers over 1-year and, where available, longer periods. Investors who want a flexi-cap exposure with active stock selection may find that trade-off acceptable if they can tolerate uneven progress.
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: Nil up to 10% of units sold on or before 3 months, and 1% for remaining units sold on or before 3 months; no exit load after that holding period.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Helios Flexi Cap Fund Direct Growth Plan?
The current NAV is ₹15.89 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 2.8%, while the 3-year and 5-year returns are Data not available.
How has the fund performed against the Nifty 50?
It has done better than the Nifty 50 over 1 month, 3 months and 1 year. The benchmark remains negative across those same periods, while the fund is slightly positive over 3 months and 1 year.
How does it compare with peer funds on returns?
Its 1-year return is lower than the peer funds listed here. Where longer-period peer numbers are available, those peers also show stronger 3-year and 5-year returns.
Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹1,000.
What are the risk level, managers and exit load?
The scheme is classified as High Risk and is managed by Alok Bahl and Pratik Singh. The exit load is nil up to 10% of units sold on or before 3 months, and 1% for remaining units sold on or before 3 months; no exit load applies after that holding period.
Bottom line
Helios Flexi Cap Fund Direct Growth Plan has shown better short-term behaviour than the benchmark, but its absolute returns are still modest and shorter than what stronger peers have delivered over comparable periods. The portfolio is spread across 65 holdings, with the top 10 making up about 33%, so the fund is not built around a single stock. Our view is that it suits investors who can accept High Risk, a relatively short live history and a return path that may remain uneven before any longer-term compounding pattern becomes clearer.
Published on 18 September 2026 at 10:02 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.