Axis Retirement Fund-Dynamic Direct Growth Plan Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Axis Retirement Fund-Dynamic Plan Direct Growth Plan currently has a NAV of ₹21.19 as of 15 Sep 2026, and its scheme AUM stands at ₹284 Cr. Its 1-year, 3-year and 5-year returns are 0.05%, 11.67% and 8.2% respectively. The fund carries a High Risk label, so our view is that it suits investors who can tolerate sharper swings and who want a retirement-oriented allocation with equity-linked market exposure.
The return pattern is uneven in the near term but steadier over multi-year stretches. That makes the fund more suitable for longer horizons than for investors looking for smooth short-term outcomes, especially since the portfolio includes a meaningful mix of equities, sovereign exposure and cash-like holdings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹21.19 as of 15 Sep 2026 |
| AUM | ₹284 Cr |
| Expense Ratio | 1.21% |
| Launch Date | 20 Dec 2019 |
| Min SIP | ₹1,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Solution Oriented |
| Exit Load | No exit load |
| Fund Managers | Jayesh Sundar, Devang Shah, Hardik Shah, Krishnaa N |
The fund is managed by Jayesh Sundar, Devang Shah, Hardik Shah and Krishnaa N.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.03% | -4.81% |
| 3M | -0.19% | -3.63% |
| 1Y | 0.05% | -8.27% |
| 3Y | 11.67% | 5.59% |
| 5Y | 8.2% | 5.58% |
The recent picture is softer than the longer-term one. Over the last month and quarter, the fund has been negative, but it has still held up better than the NIFTY 50 over the same windows. That tells us the portfolio has not fully escaped market pressure, yet it has absorbed some of the downside more efficiently than the benchmark.
The 1-year return is only marginally positive, which signals a weak trailing year. Even so, the same fund shows much better multi-year compounding, with 3-year and 5-year returns both ahead of the benchmark. Our view is that this gap between near-term softness and longer-term strength is important: the fund has not been a smooth ride, but the longer holding period has mattered more than the latest patch of performance.
The 3-year number is especially relevant because it is noticeably stronger than the 5-year figure. That usually points to a more favourable stretch inside a longer, still-developing history rather than a perfectly uniform return path. For investors, the main takeaway is that the fund has demonstrated better compounding than the benchmark across the medium and long term, while the most recent year has been much less convincing.
Class=”mf-source-date”>Source data date: as of 15 Sep 2026
Should you BUY or HOLD Axis Retirement Fund-Dynamic Plan?
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 Retirement Fund-Dynamic Plan? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Axis Retirement Fund-Dynamic Plan Direct Growth Plan | 0.05% | 11.67% | 8.2% |
| Aditya Birla SL Retirement Fund-30 Direct Growth Plan | 11.24% | 14.92% | 11.8% |
| Tata Retirement Sav Fund – Prog Plan Direct Growth Plan | 7.73% | 12.85% | 11% |
| Tata Retirement Sav Fund – Mod Plan Direct Growth Plan | 7.39% | 12.13% | 10.87% |
| ICICI Pru Retirement Fund-Hybrid Aggressive Plan Direct Growth Plan | 5.77% | 16.4% | 14.68% |
| SBI Retirement Benefit Fund-Aggressive Hybrid Plan Direct Growth Plan | 5.21% | 9.02% | 11.33% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the latest one-year numbers, the fund trails every peer listed here, with the gap most visible against the stronger retirement-hybrid names. Over 3 years, it sits in the middle of the group and is ahead of one peer, while the 5-year record is also mid-pack and clearly below the stronger long-term peer figures. The short-term and long-term peer reads are therefore different: the recent year looks weak, but the medium-term track record is still more defensible.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Clearing Corporation of India Ltd | Cash & Cash Equivalents and Net Assets | 9.39% |
| ICICI Bank Limited | Bank | 5.59% |
| Reliance Industries Limited | Crude Oil | 5.23% |
| 7.3% Government of India (19/06/2053) | Government Securities | 5.1% |
| HDFC Bank Limited | Bank | 4.77% |
| Bharti Airtel Limited | Telecom | 2.79% |
| 7.25% Government of India (12/06/2063) | Government Securities | 2.68% |
| State Bank of India | Bank | 2.57% |
| Infosys Limited | IT | 2.32% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 2.25% |
The largest holding is Clearing Corporation of India Ltd at 9.39%, which is large enough to matter but not so dominant that it defines the entire portfolio on its own. The next holdings step down fairly quickly into the 5% to 2% range, so the weight profile is front-loaded without being entirely dependent on one line item. That kind of spread may reduce single-position dependence compared with a very concentrated equity fund.
The top 10 disclosed holdings together account for 42.69% of the portfolio, and there are 54 disclosed holdings in total. That suggests a meaningful tail beyond the visible leaders, with more than half of the disclosed exposure sitting outside the top 10. The mix of cash-like exposure, government securities and large-cap equities could make the portfolio’s behaviour somewhat more balanced than a pure stock-only structure, although the High Risk label still tells us the fund can move sharply.
To see all holdings, visit the Axis Retirement Fund-Dynamic Plan Direct Growth Plan page
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors who can accept a High Risk profile and who are investing with a longer horizon rather than a short trading window. The 1-year record is muted, but the 3-year and 5-year numbers show better medium-term compounding, which matters more for retirement-style investing. Investors who want smoother month-to-month outcomes may find the recent volatility uncomfortable.
The main trade-off is that the fund has lagged the benchmark in the latest year while still staying ahead of it over 3 and 5 years. That means an investor is taking on noticeable swings in exchange for the possibility of better multi-year outcomes. The portfolio’s mix of equities, sovereign securities and cash-like exposure may also appeal to investors who want a retirement fund that is not purely equity-driven, even though the risk label remains High Risk.
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 |
No exit load.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Axis Retirement Fund-Dynamic Plan Direct Growth Plan?
The current NAV is ₹21.19 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 0.05%, the 3-year return is 11.67% and the 5-year return is 8.2%.
How has the fund done versus the benchmark?
It has lagged the NIFTY 50 over 1 year, but it has been ahead of the benchmark over 3 years and 5 years. That makes the longer-term picture better than the latest year.
How does it compare with the peer funds listed here?
Its 1-year return is weaker than the peer funds shown, while its 3-year and 5-year returns sit in the middle of the comparison set. The gap between short-term and longer-term performance is noticeable.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
What is the fund’s risk profile and exit load?
It carries a High Risk label and has no exit load. The portfolio also includes equity, government securities and cash-like holdings, which may shape how it behaves across market cycles.
Bottom line
The fund’s latest year looks soft, but its 3-year and 5-year numbers are more encouraging, especially when compared with the benchmark over the same horizons. Against peers, the short-term picture is weaker, while the medium- and long-term picture is more mixed. The High Risk label, the retirement structure and the presence of government securities and cash-like exposure make it a more nuanced allocation than a pure equity fund. It appears best suited to investors with patience for volatility and a longer holding period.
Published on 16 September 2026 at 2:07 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.