Helios Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 21, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Helios Overnight Fund Direct Growth Plan is priced at ₹1,182.589 as of 20 Sep 2026 and manages ₹293 Cr. Its 1-year, 3-year and 5-year returns are 5.11%, 0% and 0%, and it sits in the Low Risk category. Our view is that this is best read as a conservative overnight fund with steadier short-horizon behaviour than the equity benchmark, but with limited long-horizon performance history because the scheme launched in October 2023.
The portfolio is almost entirely in TREPS, so the fund is built for liquidity and capital preservation rather than return chasing. That structure fits investors who want a low-volatility parking option and can accept that the return profile should remain close to overnight and money-market style outcomes.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,182.589 as of 20 Sep 2026 |
| AUM | ₹293 Cr |
| Expense Ratio | 0.14% |
| Launch Date | 25 Oct 2023 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Exit Load | No exit load |
| Fund Managers | Alok Bahl, Devesh Kumar Bhatt |
The fund is managed by Alok Bahl and Devesh Kumar Bhatt.
Source data date: as of 20 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.39% | -3.73% |
| 3M | 1.23% | -3.14% |
| 1Y | 5.11% | -5.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The short-horizon pattern is notably stable. Over 1M and 3M, the fund has stayed positive while the benchmark has been negative, which tells us the scheme is behaving like a cash-management vehicle rather than an equity-like return engine.
The 1-year return of 5.11% is also well ahead of the benchmark’s -5.31%. That comparison matters more than the absolute number, because the benchmark itself is not a useful yardstick for an overnight strategy; even so, it shows the fund has protected value better than the equity index over the same period.
We would be careful about reading too much into longer horizons because the scheme launched only in late 2023, so 3-year and 5-year figures are not available. The available history instead points to a narrow, low-volatility profile, with the recent path showing small positive accrual rather than sharp swings.
Source data date: as of 20 Sep 2026
Should you BUY or HOLD Helios Overnight?
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 Overnight? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Helios Overnight Fund Direct Growth Plan | 5.11% | Data not available | Data not available |
| Bank of India Overnight Fund Direct Growth Plan | 5.5% | 6.2% | 5.84% |
| 360 ONE Overnight Fund Direct Growth Plan | 5.31% | Data not available | Data not available |
| Baroda BNP Paribas Overnight Fund Direct Growth Plan | 5.29% | 6.07% | 5.72% |
| Nippon India Overnight Fund Direct Growth Plan | 5.28% | 6.08% | 5.74% |
| JioBlackRock Overnight Fund Direct Growth Plan | 5.28% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the one-year measure, the fund trails several peers that have slightly higher returns, including Bank of India Overnight Fund Direct Growth Plan, 360 ONE Overnight Fund Direct Growth Plan and Baroda BNP Paribas Overnight Fund Direct Growth Plan. That said, the short-term gap is modest, which is consistent with overnight-style funds where return differences are usually small.
Where the picture changes is in the longer horizon comparisons that are available for other funds. Bank of India Overnight Fund Direct Growth Plan, Baroda BNP Paribas Overnight Fund Direct Growth Plan and Nippon India Overnight Fund Direct Growth Plan all show 3-year and 5-year figures above the current fund’s unavailable long-term track record, so the comparison tilts toward peers with a longer published history. The short-term story is therefore about modest underperformance versus the more established peer set, while the longer-term story is mainly about the scheme’s younger vintage.
Source data date: as of 20 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS | Cash & Cash Equivalents and Net Assets | 99.79% |
With one disclosed holding at 99.79%, the portfolio is extremely concentrated in a single cash-management instrument. That means the holding is likely to have the greatest influence on day-to-day NAV movement, even though the overall risk profile remains low.
The gap from the largest holding to the tenth holding cannot be assessed because only one holding is disclosed, but the available structure already tells us that there is no meaningful spread across a long tail of positions. In practical terms, the scheme appears designed to keep exposure highly focused and operationally simple.
Because the disclosed holding itself accounts for 99.79% of the portfolio and the total disclosed holding count is just one, the fund’s visible exposure is highly concentrated rather than diversified across many securities. That concentration may support liquidity and predictability in an overnight strategy, but it also means the scheme’s behaviour will largely reflect that single instrument.
Source data date: as of 20 Sep 2026
Who should invest
This fund suits conservative investors who want a low-risk parking option and are comfortable with overnight-style returns rather than equity-like growth. The Low Risk label and the stable short-term pattern make it more suitable for capital preservation and liquidity needs than for wealth creation.
The better fit is generally a short to medium holding period, especially when the goal is to keep cash productive without taking meaningful market risk. The main trade-off is that the fund may provide steadier behaviour than equity funds, but it is also likely to deliver modest returns compared with longer-duration or growth-oriented choices.
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 20 Sep 2026
Frequently asked questions
What is the current NAV of Helios Overnight Fund Direct Growth Plan?
The current NAV is ₹1,182.589 as of 20 Sep 2026. It has changed by ₹0.1581 on the latest update shown.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 5.11%. The 3-year and 5-year returns are not available because the scheme does not have those published periods yet.
How has the fund done versus the benchmark?
It has done better than the benchmark over the available periods. For 1 year, the fund returned 5.11% while the benchmark returned -5.31%, and the same pattern holds over 1M and 3M as well.
How does it compare with peer overnight funds on 1-year returns?
Its 1-year return of 5.11% is slightly below several peer overnight funds in the comparison set. The gap is small, but peers such as Bank of India Overnight Fund Direct Growth Plan and 360 ONE Overnight Fund Direct Growth Plan have higher 1-year figures.
Does the fund have a minimum SIP amount?
No minimum SIP amount is shown for this fund. The available details do not list a SIP requirement.
What does the portfolio look like and is there an exit load?
The portfolio is almost entirely in TREPS, with a disclosed weight of 99.79%. There is no exit load, and the fund is managed by Alok Bahl and Devesh Kumar Bhatt.
Bottom line
Helios Overnight Fund Direct Growth Plan has a steadier short-term return pattern than the benchmark, but its 1-year return is a little below several peer overnight funds with available data. The scheme’s Low Risk profile and near-total concentration in TREPS make it better suited to capital preservation and liquidity than to return maximisation. For investors who want a conservative parking place and can accept modest outcomes, the fund’s structure is straightforward and easy to understand.
Published on 21 September 2026 at 11:15 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.