iSIF Hybrid Long-Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
iSIF Hybrid Long-Short Fund Direct Growth Plan is at ₹10.4817 as of 17 Sep 2026, with scheme AUM of ₹1,323 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0% respectively, and the fund sits in the High Risk category. Our view is that the fund is still too new for a long track record, so the early performance needs to be read alongside its mixed short-term move and its portfolio construction.
The fund’s benchmark is Nifty 50, and the current return pattern does not yet build a meaningful long-term edge over that reference. The portfolio mixes cash, banks, autos, aviation and debt exposure, which may help diversify drivers of return, but the short history means investors may want to treat it as a higher-uncertainty allocation rather than a proven compounding core.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.4817 as of 17 Sep 2026 |
| AUM | ₹1,323 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 04 Feb 2026 |
| Min SIP | ₹10,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 12M, NIL after 12M |
| Fund Managers | Rajat Chandak, Ayush Shah, Manish Bandi, Akhil Kakkar |
The fund is managed by Rajat Chandak, Ayush Shah, Manish Bandi and Akhil Kakkar.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.37% | -3.66% |
| 3M | 2.76% | -3.71% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The short-term pattern is more useful here than the headline long-range figures, because the fund was launched only in February 2026. Over 1 month, the fund was down, but it held up better than the benchmark, which fell more sharply. Over 3 months, the fund moved into positive territory while the benchmark remained negative, which suggests the strategy has been able to find some return even when the index was weaker.
That said, the journey has not been smooth. The 1-month profile shows a clear pullback after an earlier steady phase, so we would not treat the recent run as a straight-line improvement. Instead, it looks like a young fund that has started to show some resilience, but not yet enough history to judge consistency through a full market cycle.
The benchmark comparison matters because it gives context to the fund’s early behaviour. In the most recent windows, the fund has been less weak than Nifty 50, and in the 3-month window it has outpaced it by a meaningful margin. But with no usable 1-year, 3-year or 5-year history yet, there is still too little evidence to say that the fund has established a durable pattern of outperformance.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD iSIF Hybrid Long-Short?
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 iSIF Hybrid Long-Short? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| iSIF Hybrid Long-Short Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Magnum Equity Ex-Top 100 Long-Short Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Arudha Equity Long-Short Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| iSIF Active Asset Allocator Long-Short Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Arthaya Equity Long Short Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| iSIF Hybrid Long-Short Fund Direct Growth Plan | Data not available | 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 available return data, the current fund’s short-term numbers are broadly in line with the idea that newer hybrid long-short strategies can move differently from the benchmark. The peer set does not give a usable 1-year, 3-year or 5-year comparison here, so the table is more useful for identifying the group than for separating one scheme from another. That leaves the current fund’s recent 3-month strength as the main differentiator in the comparison.
Because the longer-horizon peer figures are not available in a meaningful way, our reading stays cautious. The current fund appears to have a better recent pattern than the benchmark, but there is not yet enough return history to judge whether that pattern is sustained or simply part of an early launch phase.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS | Cash & Cash Equivalents and Net Assets | 12.51% |
| TVS Motor Company Ltd. | Automobile & Ancillaries | 3.70% |
| ICICI Bank Ltd. | Bank | 3.45% |
| Axis Bank Ltd. | Bank | 3.43% |
| HDFC Bank Ltd. | Bank | 3.28% |
| 7.44% NABARD | Corporate Debt | 2.64% |
| Interglobe Aviation Ltd. | Aviation | 2.50% |
| Mahindra & Mahindra Ltd. | Automobile & Ancillaries | 2.44% |
| Reliance Industries Ltd. | Crude Oil | 2.41% |
| Tata Motors Ltd. | Domestic Equities | 2.23% |
The largest holding is TREPS at 12.51%, which is large enough to matter for short-term stability and liquidity. After that, the weights step down quickly into the 3% range, then the 2% range, so the top of the portfolio is not dominated by a single equity position.
The fall from 12.51% to 2.23% across the tenth holding suggests a fairly broad spread among the disclosed names. At the same time, the top 10 holdings together account for approximately 38.59% of the portfolio, which means a meaningful portion is still sitting in a longer tail across the remaining disclosed positions. With 65 holdings disclosed overall, the fund may have several smaller positions that help diversify the visible core.
That mix can work in two ways: a cash-like position may reduce day-to-day swings, while the bank, auto, aviation and debt names may add return drivers from different parts of the market. Our view is that this structure may support flexibility, but it also means the fund’s outcome can depend on how the active allocation is managed over time.
To see all holdings, visit the iSIF Hybrid Long-Short Fund Direct Growth Plan page
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk and can give the strategy enough time to settle beyond its launch phase. The current evidence points to a short history, a mixed recent pattern versus the benchmark, and no usable long-run return record yet, so it fits better with investors who can tolerate uncertainty than those seeking steady, established compounding.
A longer horizon is important because the portfolio blends cash, equity and debt-linked exposures, which may behave differently across market phases. The main trade-off is between flexibility and proof: the fund offers an actively managed, mixed-exposure approach, but investors have to accept that there is not yet enough return history to judge whether the early resilience will persist.
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: 1% on or before 12M, NIL after 12M.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of iSIF Hybrid Long-Short Fund Direct Growth Plan?
Its NAV is ₹10.4817 as of 17 Sep 2026.
What are the fund’s recent returns?
Its 1-year, 3-year and 5-year returns are not yet available in a usable long-term sense. For the shorter windows, the fund returned -2.37% over 1 month and 2.76% over 3 months.
How does the fund compare with Nifty 50?
It has done better than Nifty 50 in the latest short windows. Over 1 month, the fund fell less than the benchmark, and over 3 months it was positive while the benchmark stayed negative.
How does the fund compare with the peer set on returns?
The peer table does not provide usable 1-year, 3-year or 5-year return figures for the comparison group, so the clearest return comparison here is the fund’s short-term behaviour versus the benchmark rather than versus peers.
What is the minimum SIP amount?
₹10,000.
Who manages the fund and what is the exit load?
The fund is managed by Rajat Chandak, Ayush Shah, Manish Bandi and Akhil Kakkar. The exit load is 1% on or before 12 months, and nil after 12 months.
Bottom line
iSIF Hybrid Long-Short Fund Direct Growth Plan is still building its record, so the most useful read is the short-term pattern rather than any long-run conclusion. Recent behaviour has been better than the benchmark in the available windows, while the portfolio mixes cash, banks, autos, aviation and debt exposure. That blend may support flexibility, but the High Risk tag and the short launch history mean this looks better suited to investors who can tolerate uncertainty and wait for a fuller track record to emerge.
Published on 18 September 2026 at 8:52 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.