Mirae Asset Nifty SDL June 2028 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset Nifty SDL June 2028 Index Fund Direct Growth Plan has a NAV of ₹12.8842 as of 17 September 2026 and a scheme AUM of ₹80 Cr. Its 1-year, 3-year and 5-year returns are 6.05%, 7.53% and 0%, and the risk category is Balanced Risk.
Our view is that this is a focused debt index fund with a steady but not standout return profile. The portfolio is dominated by state government securities maturing around 2028, so it may suit investors who want a defined-duration, bond-heavy allocation and can accept moderate interest-rate sensitivity.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹12.8842 as of 17 Sep 2026 |
| AUM | ₹80 Cr |
| Expense Ratio | 0.12% |
| Launch Date | 31 Mar 2023 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Pranavi Kulkarni |
The fund is managed by Pranavi Kulkarni.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.19% | -3.66% |
| 3M | 1.38% | -3.71% |
| 1Y | 6.05% | -7.13% |
| 3Y | 7.53% | 5.82% |
| 5Y | Data not available | Data not available |
The recent numbers are stronger than the benchmark over every available period. The fund has stayed positive over 1 month, 3 months and 1 year while the benchmark has been negative in those same windows, which points to better resilience in the latest stretch.
The longer view is also constructive. The 3-year return of 7.53% is above the benchmark’s 5.82%, so the fund has still outpaced the benchmark over a multi-year holding period rather than just in a short rebound.
That said, the gap is not dramatic, and the pattern looks more like controlled compounding than aggressive upside. The time pattern suggests a relatively smooth path with modest month-to-month movement, which is consistent with a debt-oriented index fund rather than an equity-style growth profile.
For investors, the key point is that the fund has done better than the benchmark in both the recent and medium-term windows, but it has not shown the kind of sharp acceleration that would change its basic character.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Mirae Asset Nifty SDL June 2028 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 Mirae Asset Nifty SDL June 2028 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset Nifty SDL June 2028 Index Fund Direct Growth Plan | 6.05% | 7.53% | 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 fund’s 1-year return is far below the equity-oriented peer set shown here, but that comparison needs context because the peer list is mixed and includes much more growth-sensitive strategies. Against the available 3-year peer numbers, its 7.53% is also well below the peer figures that are disclosed, while still staying ahead of its benchmark over the same period.
The short-term and medium-term pictures tell different stories only in scale, not direction. The fund has been consistently ahead of the benchmark, yet the peer figures available here indicate that it has delivered a more restrained return pattern than the equity-style comparables in the group.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 8.45% State Government of Uttar Pradesh (MD 27/06/2028) | Government Securities | 12.78% |
| 8.32% State Government of Tamil Nadu (MD 23/05/2028) | Government Securities | 12.75% |
| 7.22% State Government of Gujarat (MD 14/06/2028) | Government Securities | 12.53% |
| 6.98% State Government of Maharashtra (MD 26/02/2028) | Government Securities | 9.36% |
| 8.27% State Government of Kerala (MD 21/02/2028) | Government Securities | 8.24% |
| 8.40% State Government of Rajasthan (MD 20/06/2028) | Government Securities | 6.51% |
| 8.15% State Government of Bihar (MD 27/03/2028) | Government Securities | 6.34% |
| 6.99% State Government of Karnataka (MD 17/03/2028) | Government Securities | 6.24% |
| 6.99% State Government of Telangana (MD 10/06/2028) | Government Securities | 5.61% |
| 8.20% State Government of Uttarakhand (MD 09/05/2028) | Government Securities | 5.08% |
The top 10 holdings account for approximately 85.44% of the portfolio.
To see all holdings, visit the Mirae Asset Nifty SDL June 2028 Index Fund Direct Growth Plan page
The largest holding is 8.45% State Government of Uttar Pradesh (MD 27/06/2028) at 12.78%, which is a meaningful single-position weight for a debt index fund. The next few holdings are close behind, so the portfolio starts with a fairly tight cluster of state government securities rather than a very broad spread at the top.
By the tenth holding, the weight has declined to 5.08%, so the drop from the largest position is noticeable but not extreme. That tells us the portfolio is not dominated by one security alone; instead, influence is shared across several near-dated state bonds.
Because the top 10 already account for about 85.44% of the portfolio, the disclosed sleeve looks concentrated across a limited number of positions. With 15 holdings in total, the fund may still have a longer tail beyond the table, but the visible structure suggests that the leading securities are likely to have greater influence on returns and duration behaviour.
Source data date: as of 17 Sep 2026
Who should invest
This fund fits investors who are comfortable with Balanced Risk and want a debt-heavy, maturity-aware index exposure rather than an equity-style return profile. The 1-year and 3-year numbers show positive compounding, and the fund has stayed ahead of the benchmark across the available periods, but the gains have been measured rather than sharp.
Our view is that it suits a medium-term horizon where an investor can hold through rate movement and accept that returns may be steady instead of exciting. The main trade-off is between relative stability from government securities and the possibility of more limited upside compared with higher-growth peers shown in the comparison table.
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 Mirae Asset Nifty SDL June 2028 Index Fund Direct Growth Plan?
The current NAV is ₹12.8842 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 6.05% over 1 year, 7.53% over 3 years and 0% over 5 years. The 5-year figure is not available as a meaningful track record here because the scheme was launched on 31 Mar 2023.
How does the fund compare with its benchmark?
It has outperformed the benchmark over the available 1-month, 3-month, 1-year and 3-year periods. The gap is especially clear in the recent windows, where the benchmark has been negative and the fund has remained positive.
How does it compare with the peer funds shown here?
Its 1-year return of 6.05% is well below the higher-return peers shown, and its 3-year return of 7.53% is also below the available 3-year peer figures in this set. The comparison points to a more restrained return pattern than the equity-oriented peers listed here.
Is there a minimum SIP amount?
A minimum SIP amount is not stated here, so we are not listing one.
What are the risk profile, portfolio style and exit load?
The fund is in the Balanced Risk category, and its portfolio is concentrated in state government securities maturing around 2028. There is no exit load, and the fund is managed by Pranavi Kulkarni.
Bottom line
This fund has been steadier than its benchmark in both recent and multi-year periods, but its return profile remains measured rather than aggressive. Against the peer figures shown, it looks more restrained, which fits its debt-oriented and maturity-focused structure. The portfolio is concentrated in a set of near-dated state government securities, so the larger positions are likely to shape outcomes. It may suit investors looking for a balanced-risk, medium-term allocation with a relatively defined bond exposure.
Published on 18 September 2026 at 1:00 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.