DSP US Specific Equity Omni FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
DSP US Specific Equity Omni FoF Direct Growth Plan has a NAV of ₹102.7443 as of 08 Sep 2026 and a scheme AUM of ₹1,296 Cr. Its 1-year, 3-year and 5-year returns are 34.15%, 27.56% and 19% respectively, and the scheme is tagged High Risk. Our view is that the fund has delivered strong multi-period gains, but the path has not been perfectly smooth, so it fits investors who are comfortable with overseas equity-linked swings and can stay invested through uneven stretches.
It sits in the Fund of Fund category, tracks Nifty 50 as benchmark reference, and has only one disclosed underlying holding outside cash and receivables. That makes the portfolio highly focused, which can support decisive outcomes when the underlying overseas fund does well, but it also leaves less room for diversification within the scheme itself.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹102.7443 as of 08 Sep 2026 |
| AUM | ₹1,296 Cr |
| Expense Ratio | 1.46% |
| Launch Date | 02 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Fund of Fund |
| Exit Load | No exit load |
| Fund Managers | Kaivalya Nadkarni |
The fund is managed by Kaivalya Nadkarni.
Source data date: as of 08 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.3% | -4.69% |
| 3M | 1.61% | 0.93% |
| 1Y | 34.15% | -7.16% |
| 3Y | 27.56% | 6% |
| 5Y | 19% | 5.87% |
The recent pattern is better than the benchmark on all shown horizons, but it is especially notable in the 1-year number, where the fund has stayed well ahead while the benchmark has been negative. That tells us the underlying overseas exposure has been much stronger than the broad domestic reference point over the past year.
The 1-month and 3-month paths show some volatility rather than a one-way move. The fund slipped in the latest month after a stronger 3-month stretch, which suggests short-term swings can still matter even when the longer trend is positive. That is consistent with a fund that can move differently from a broad equity index.
Over 3 years and 5 years, the fund has compounded at a healthier pace than the benchmark. The 3-year return is particularly strong relative to the index, while the 5-year gap is smaller but still favourable. Our view is that the fund has translated longer-run overseas equity exposure into solid compounding, although investors should expect uneven shorter-term phases along the way.
Source data date: as of 08 Sep 2026
Should you BUY or HOLD DSP US Specific Equity Omni FoF?
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 DSP US Specific Equity Omni FoF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| DSP US Specific Equity Omni FoF Direct Growth Plan | 34.15% | 27.56% | 19% |
| Edelweiss Emerging Markets Opp Eq. Offshore Fund Direct Growth Plan | 55.74% | 29.25% | 11.47% |
| HSBC Global Emerging Markets Fund Direct Growth Plan | 53.67% | 29.41% | 12.31% |
| Kotak Global Emerging Market Overseas Equity Active FOF Direct Growth Plan | 46.18% | 27.12% | 12.33% |
| HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan | 39.43% | 28.07% | 15.17% |
| HSBC Brazil Fund Direct Growth Plan | 38.73% | 17.3% | 10.08% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the 1-year measure, the fund trails the strongest peer returns shown here, though it still stays ahead of the benchmark reference by a wide margin. That places the recent outcome in a middle zone within this peer set: solid, but not as sharp as the best overseas-fund runs over the past year.
The longer view is more balanced. Its 3-year return is in line with the better peer numbers and slightly below the strongest showing, while its 5-year return is stronger than several of the listed peers. So the short-term picture is less competitive than the best peers, but the longer-term picture looks steadier and more respectable. The mix suggests the fund can participate well over time even if another scheme in the same broad space may occasionally move faster over a single year.
Source data date: as of 08 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Blackrock Global Funds – Us Flexible Equity Fund ^^ | Overseas Mutual Fund Units | 92.55% |
| TREPS / Reverse Repo Investments | Cash & Cash Equivalents and Net Assets | 4.2% |
| Net Receivables/Payables | Cash & Cash Equivalents and Net Assets | 3.24% |
The single largest holding is very large at 92.55%, so the fund’s outcome may be driven mainly by that one underlying overseas equity fund. The next two disclosed positions are cash and receivables, which means there is little visible spread across multiple security sleeves inside the scheme itself.
The weight drops sharply from the first holding to the second and third rows. That pattern suggests the portfolio is highly concentrated rather than evenly diversified across many names, and the disclosed holding list itself has only three rows. In practical terms, the fund’s behaviour is likely to be closely tied to the performance and currency-sensitive movement of the main overseas allocation.
Because the top disclosed holdings together account for 99.99% of the portfolio, there is very little residual weight left outside these positions in the visible disclosure. That does not tell us how the underlying overseas fund itself is invested, but it does show that this scheme-level wrapper is extremely focused.
Source data date: as of 08 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk and who are comfortable with overseas equity-linked variability. The 1-year return has been much stronger than the benchmark, while the 3-year and 5-year figures suggest the fund has also compounded well over time.
The main trade-off is concentration: the scheme is heavily dependent on one underlying overseas fund, so performance can be strong when that exposure works and uneven when it does not. A medium-to-long horizon is more sensible here than a short-term allocation, because the return pattern includes both solid gains and noticeable short-term fluctuation.
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 08 Sep 2026
Frequently asked questions
What is the current NAV of DSP US Specific Equity Omni FoF Direct Growth Plan?
The current NAV is ₹102.7443 as of 08 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 34.15%, the 3-year return is 27.56% and the 5-year return is 19%.
How has the fund performed versus the benchmark?
It has outpaced the benchmark across all the shown periods. The gap is most visible over 1 year, where the fund is positive and the benchmark is negative.
How does it compare with peer funds on recent returns?
Its 1-year return is below the strongest peer figures shown, but its 3-year and 5-year numbers remain competitive within the peer set. The shorter-term comparison is less impressive than the longer-term one.
Is there a minimum SIP requirement?
No minimum SIP amount is stated here, so we are not listing one.
Who manages the fund and what is the exit load?
The fund is managed by Kaivalya Nadkarni. There is no exit load.
Bottom line
DSP US Specific Equity Omni FoF Direct Growth Plan shows a clear split between a strong longer-term return profile and some short-term wobble. It has done better than the benchmark across the displayed periods, and its peer comparison is respectable even if some overseas-fund peers have posted faster 1-year gains. The key portfolio feature is concentration: almost the entire scheme sits in one underlying overseas fund, so the investor is taking a focused bet on that exposure. This fits patient investors who can accept High Risk in exchange for potentially strong compounding.
Published on 10 September 2026 at 2:31 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.