Axis NIFTY IT Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Axis NIFTY IT Index Fund Direct Growth Plan currently has an NAV of ₹10.2497 as of 17 Sep 2026 and an AUM of ₹137 Cr. Its 1-year, 3-year and 5-year returns are -18.26%, -2.79% and 0% respectively. The fund sits in the High Risk bucket, so our view is that it fits investors who can tolerate sharp swings and who want a focused thematic IT exposure rather than broad market diversification.
The recent return pattern has been weak, especially over 1 year, and the portfolio is highly concentrated in a small set of IT names. That combination makes the scheme more suitable for investors with a longer horizon and a clear view on the technology cycle, while still accepting that the benchmark-like path has been uneven.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.2497 as of 17 Sep 2026 |
| AUM | ₹137 Cr |
| Expense Ratio | 0.32% |
| Launch Date | 14 Jul 2023 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 7D, Nil after 7D |
| Fund Managers | Nandik Mallik, Rohit Gautam |
The fund is managed by Nandik Mallik and Rohit Gautam.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.55% | -3.66% |
| 3M | 2.56% | -3.71% |
| 1Y | -18.26% | -7.13% |
| 3Y | -2.79% | 5.82% |
| 5Y | Data not available | Data not available |
Over the very short term, the fund has moved in a choppy but not completely one-way pattern. The 1-month return is slightly better than the benchmark, while the 3-month return stands out as a clear rebound after a weaker stretch. That tells us the scheme can recover quickly when the underlying IT basket improves, but it can also give back gains just as fast.
The 1-year number is the most important caution point. At -18.26%, the fund has lagged the benchmark’s -7.13% by a wide margin, which points to meaningful pressure in the recent cycle. For investors, this matters because a fund can look stable over a few weeks yet still struggle over a full year if sector sentiment stays weak.
The longer pattern is also softer than the benchmark. The 3-year return is negative for the fund, while the benchmark has remained positive over the same period. In our view, that gap suggests the scheme has not merely faced a temporary dip; it has also underperformed across a fuller market cycle. The 5-year figure is shown as Data not available because the scheme itself has not been live long enough to build that history.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Axis NIFTY IT 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 Axis NIFTY IT Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Axis NIFTY IT Index Fund Direct Growth Plan | -18.26% | -2.79% | 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.
On 1-year return, this fund trails every peer listed here by a wide distance, while some of those peers have delivered strong positive numbers. That short-term contrast is important because it shows the scheme has not participated in the same recent momentum that helped several thematic funds.
The longer view is also less comfortable. The available 3-year figures for peers are positive in two cases and materially higher than this fund’s negative 3-year return, so the gap is not just a one-period issue. The short-term and longer-term comparisons therefore tell the same story: this scheme has lagged the better-performing alternatives in this set on the return figures available.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Infosys Limited | IT | 28.96% |
| Tata Consultancy Services Limited | IT | 20.33% |
| HCL Technologies Limited | IT | 11.48% |
| Tech Mahindra Limited | IT | 10.56% |
| Coforge Limited | IT | 7.06% |
| Persistent Systems Limited | IT | 6.21% |
| Wipro Limited | IT | 5.10% |
| LTM Limited | IT | 4.31% |
| Mphasis Limited | IT | 3.28% |
| Oracle Financial Services Software Limited | IT | 3.05% |
The largest holding, Infosys Limited, carries a 28.96% weight, which is large enough to shape the fund’s day-to-day behaviour. The second holding is also substantial at 20.33%, so the portfolio begins with two positions that together may have a strong influence on returns.
The weight then steps down gradually rather than collapsing after the top two names. Even so, the tenth holding still stands at 3.05%, which shows that the scheme remains meaningfully anchored in a handful of large IT stocks rather than a very broad spread. Our view is that this shape can amplify moves when the sector is strong, but it can also magnify weakness when sentiment turns.
The top 10 holdings account for approximately 100% of the portfolio, and the table covers all disclosed holdings. That means the exposure is concentrated across a short list of names rather than spread across a long tail, which is consistent with a focused index strategy in one sector.
Source data date: as of 17 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with High Risk exposure and can hold through swings in a single-sector strategy. The recent return pattern and the negative 3-year figure suggest that patience matters here, because short bursts of recovery have not yet translated into durable longer-term strength.
The scheme may appeal to investors who already have a diversified core portfolio and want a more focused IT allocation alongside it. The main trade-off is clear: the portfolio is concentrated and can move sharply with the sector, so the possibility of cyclical upside comes with a meaningful chance of underperformance during weak technology phases.
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
0.25% on or before 7 days; nil after 7 days.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Axis NIFTY IT Index Fund Direct Growth Plan?
The current NAV is ₹10.2497 as of 17 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is -18.26%, the 3-year return is -2.79% and the 5-year return is Data not available.
How has the fund done versus the benchmark?
It has lagged the benchmark over 1 year and 3 years. The 1-month return is slightly better than the benchmark, but the 3-month and 1-year pictures remain mixed to weak.
How does it compare with the peer funds listed here?
Its 1-year return is lower than each peer shown here, and the available 3-year figures for peers are also stronger than this fund’s 3-year return.
What is the minimum SIP?
The minimum SIP is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Nandik Mallik and Rohit Gautam. The exit load is 0.25% on or before 7 days and nil after 7 days.
Bottom line
Axis NIFTY IT Index Fund Direct Growth Plan has shown a weak longer-run return profile, even though the shortest-term numbers hint at some recovery. Against the benchmark and the peer set shown here, the fund looks softer on the available return history, which matters because its High Risk profile and concentrated IT exposure can magnify both gains and losses. For investors who want a focused sector allocation and can tolerate that volatility, the fund may still serve a role, but it is not a broad-market substitute.
Published on 18 September 2026 at 1:29 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.