BHARAT Bond FOF – April 2031 – Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

BHARAT Bond FOF – April 2031 – Direct Growth Plan is at ₹14.2691 as of 28 August 2026, with scheme AUM of ₹4,659 Cr. Its 1-year, 3-year and 5-year returns are 4.92%, 7.48% and 6.50%, respectively, and it is tagged as Medium Risk. Our view is that this is a relatively steady debt-oriented fund-of-fund rather than a high-momentum performer, so it may suit investors who want moderated volatility and a defined horizon more than sharp upside.

The broader pattern looks consistent: returns have stayed positive over 3 years and 5 years, while the 1-year figure is lower than the longer-term run rate. The portfolio is almost entirely concentrated in one domestic mutual fund holding, so the behaviour of the underlying Bharat Bond ETF is likely to matter most.

Quick facts

The fund is managed by Hetul Raval and Rahul Dedhia.

Source data date: as of 28 Aug 2026

Performance

The recent picture is mixed but not weak. Over 1 month, the fund was slightly negative and still marginally better than the benchmark, while the 3-month move was positive but below the benchmark’s pace. That tells us the short end has been steady rather than aggressive, with only modest swings.

The 1-year figure is where the fund stands out against the benchmark, because the benchmark posted a negative return over the same period while the fund stayed positive. That gap suggests the fund has offered better resilience over the last year than the benchmark comparison alone might imply.

On longer horizons, the fund has held a positive 3-year return of 7.48%, ahead of the benchmark’s 6.40%, but its 5-year return of 6.50% trails the benchmark’s 7.13%. Our read is that the fund has improved more recently than its 5-year average suggests, so the last three years look stronger than the full five-year stretch.

The time pattern also points to a controlled return profile rather than a smooth climb. There were phases of mild weakness and recovery, but the broad movement has remained orderly. For an investor, that matters because it supports the idea that this fund is designed more for stability and linkage to the underlying bond strategy than for high volatility upside.

Source data date: as of 28 Aug 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return is far below the silver-focused peer set shown here, but those peers are operating in a very different return environment. On 3-year numbers where peers have data, the fund’s 7.48% is much closer to a conservative bond-style profile than to the strong silver-linked figures. The 5-year picture is similar: where longer-term peer data is available, the fund looks steadier but materially less explosive.

So the comparison tells two different stories. Short-term peer figures highlight how muted this fund’s return profile is, while the longer horizon shows that its steadiness may be the more relevant feature for investors evaluating this category. That makes the fund’s role clearer: it is not trying to mirror the higher-return pattern seen in the silver FoF peers.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution: Large cap 0%, Mid cap 0%, Small cap 0%, Other 100%.

The portfolio is extremely concentrated in the “Other” bucket, which is expected for a fund of fund structure like this. With no large-cap, mid-cap or small-cap equity allocation visible, the fund’s behaviour is likely to depend almost entirely on the underlying bond ETF rather than on stock selection.

The 99.78% allocation to domestic mutual fund units is materially larger than anything else in the visible portfolio, so it is clearly the dominant driver. Because only one holding is shown, there is little diversification across sectors in the conventional equity sense. That does not make the portfolio risky in the stock-market sense, but it does mean the fund is highly concentrated in one underlying instrument.

For investors, that concentration may be a feature rather than a flaw if the goal is to track a defined fixed-income exposure through a fund-of-fund structure. It also means this fund is likely to have greater influence from the underlying Bharat Bond ETF than from any broad market movement across sectors.

Source data date: as of 28 Aug 2026

Who should invest

This fund may suit investors with moderate risk tolerance who want a relatively controlled return pattern rather than large fluctuations. The Medium Risk tag fits the fund’s steady but not spectacular return record, especially since the 1-year result is lower than the 3-year and 5-year levels.

A longer investment horizon looks more appropriate here than a short trading-style view, because the return profile is smoother over multi-year periods. The main trade-off is that investors get a more defensive, concentrated bond-linked structure, but they also give up the kind of strong upside that some peers have shown in different market conditions.

Tax and exit load

Exit load: 0.10% if units are sold on or before 30 days; nil after 30 days.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of BHARAT Bond FOF – April 2031 – Direct Growth Plan?
Its current NAV is ₹14.2691 as of 28 August 2026.

What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.92%, the 3-year return is 7.48% and the 5-year return is 6.50%.

How does it compare with the benchmark?
It has beaten the benchmark over 1 year and 3 years, but it trails the benchmark over 5 years. Over 1 month and 3 months, the benchmark and the fund both stayed close to flat-to-positive territory.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund?
The fund is managed by Hetul Raval and Rahul Dedhia.

What are the tax and exit-load rules?
Units held for less than 1 year face 20% short-term capital gains tax, while units held for more than 1 year face 12.5% long-term capital gains tax. The exit load is 0.10% if units are sold on or before 30 days, and nil after 30 days.

Bottom line

BHARAT Bond FOF – April 2031 – Direct Growth Plan has shown a steadier 3-year profile than its 5-year record, and the recent 1-year return is better than the benchmark. Against the peer set shown here, its return profile is much more restrained, which fits its bond-linked, defensive character rather than a high-growth style. The portfolio is also highly concentrated in one underlying domestic mutual fund holding, so investors should see it as a focused fixed-income-oriented fund-of-fund with a Medium Risk tag and a conservative return pattern.

Published on 31 August 2026 at 4:17 PM IST