HDFC Nifty G-Sec Dec 2026 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HDFC Nifty G-Sec Dec 2026 Index Fund Direct Growth Plan is at ₹13.0654 as of 17 September 2026, with an AUM of ₹931 Cr. Its 1-year, 3-year and 5-year returns are 5.7%, 7.14% and 0% respectively, and the scheme sits in the Low Risk bucket.
Our view is that this is best read as a conservative gilt-oriented option for investors who want stability rather than aggressive upside. The return pattern is steady over 1 year and 3 years, but the 5-year figure is not meaningful for a fund launched in November 2022, so the fund should be judged mainly on recent behaviour, portfolio quality and its low-volatility profile.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.0654 as of 17 Sep 2026 |
| AUM | ₹931 Cr |
| Expense Ratio | 0.2% |
| Launch Date | 10 Nov 2022 |
| Min SIP | ₹100 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Anupam Joshi, Sankalp Baid |
The fund is managed by Anupam Joshi and Sankalp Baid.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.45% | -3.66% |
| 3M | 1.34% | -3.71% |
| 1Y | 5.7% | -7.13% |
| 3Y | 7.14% | 5.82% |
| 5Y | 0% | Data not available |
The short-term profile has been firmer than the benchmark. Over 1 month, 3 months and 1 year, the fund stayed positive while the benchmark was negative across the same windows, which points to a much steadier path through a weak market phase for the reference index.
The 3-year number is more balanced. At 7.14%, the fund is still ahead of the benchmark’s 5.82% over that period, but the gap is much narrower than in the shorter windows. That tells us the recent outperformance has not come from one isolated month; it has been built through a more gradual, measured pattern.
The time pattern also looks controlled rather than erratic. The fund’s movement over the shorter windows suggests mild fluctuations with a positive drift, while the benchmark shows a clearer drawdown and only partial recovery. For investors, that matters because this scheme is designed more for rate and gilt exposure than for rapid capital growth. The 5-year figure should not be overread here, because the scheme’s launch date in 2022 means the figure is not a useful long-horizon record for this fund.
Overall, the fund has behaved better than the benchmark in the recent period and still holds a lead on the 3-year view. The main question is not whether it can chase equity-style returns; it is whether its calmer profile fits a defensive debt allocation.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD HDFC Nifty G-Sec Dec 2026 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 HDFC Nifty G-Sec Dec 2026 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HDFC Nifty G-Sec Dec 2026 Index Fund Direct Growth Plan | 5.7% | 7.14% | 0% |
| 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 available return figures, this fund trails the stronger short-term peer numbers by a wide margin, especially on 1-year performance. Its 3-year return is also lower than the best available peer figures in this list, although it remains in a steadier debt-style return band rather than chasing equity-like outcomes.
The comparison tells two different stories. In the short run, the fund looks restrained versus peers with much higher recent gains. On the longer view where data is available, it still remains more modest than the best peer records, but that is consistent with a low-risk gilt strategy rather than an equity or thematic index posture.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 5.74% GOI Mat 151126 | Government Securities | 69.96% |
| 6.97% GOI Mat 060926^ | Government Securities | 16.85% |
| 8.15% GOI Mat 241126^ | Government Securities | 10.47% |
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 1.97% |
| TREPS – Tri-Party Repo | Cash & Cash Equivalents and Net Assets | 0.75% |
The largest holding alone accounts for 69.96% of the portfolio, so the fund is heavily shaped by a single government security. That kind of structure may make the scheme’s day-to-day behaviour easier to understand, but it also means the portfolio is closely tied to the movement of a small set of gilt holdings.
The weight drops sharply after the first line item, from 69.96% to 16.85% and then to 10.47%. With only five disclosed holdings in total, the visible book is already quite compact, and there is no long tail to dilute the influence of the main positions. The last two cash-linked entries are minor by comparison and mainly add liquidity support.
Because the disclosed holdings together sum to the full portfolio, the fund appears concentrated rather than widely spread. That concentration is not unusual for a gilt index strategy, but it does mean the fund’s returns are likely to be driven more by bond price moves in its core securities than by broad diversification across many issuers.
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors with a conservative risk tolerance who want a debt-oriented allocation rather than an equity substitute. The Low Risk label and the smooth recent return pattern point to a portfolio that may appeal to those who value steadiness and capital preservation more than high upside.
The fund is more suitable for a medium-term to longer-term holding period than for very short tactical use, especially if the investor wants to stay aligned with a gilt-style interest-rate profile. The main trade-off is simple: the portfolio may help reduce volatility, but it is unlikely to match the return potential of higher-risk categories or the stronger short-term numbers seen in some peer funds.
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 17 Sep 2026
Frequently asked questions
What is the current NAV of HDFC Nifty G-Sec Dec 2026 Index Fund Direct Growth Plan?
The current NAV is ₹13.0654 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.7%, its 3-year return is 7.14%, and its 5-year return is 0%.
How does the fund compare with its benchmark?
The fund has outperformed the benchmark in the 1-month, 3-month, 1-year and 3-year periods shown here. The benchmark numbers are negative in the shorter windows, while the fund stayed positive.
How does it compare with the peer funds listed here?
Its 1-year return is lower than the stronger peer figures shown, while its 3-year return is also below the higher peer numbers available in this list. The fund still follows a different profile, with a conservative gilt-style return pattern rather than equity-like momentum.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Anupam Joshi and Sankalp Baid. It has no exit load.
Bottom line
This fund has a steadier recent pattern than its benchmark and a 3-year return that remains ahead of the benchmark, but its 5-year figure is not meaningful for a scheme launched in 2022. Against the peer set shown here, the return profile is more restrained, which fits its Low Risk identity. The portfolio is also highly concentrated in one government security, so the fund behaves more like a focused gilt exposure than a broadly diversified debt basket. It may suit conservative investors who want a debt allocation with limited volatility and can accept modest return potential.
Published on 18 September 2026 at 8:22 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.