Navi Nifty Bank Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Navi Nifty Bank Index Fund Direct Growth Plan has a NAV of ₹14.859 as of 16 Sep 2026 and an AUM of ₹648 Cr. Its 1-year, 3-year and 5-year returns are 2.42%, 7.33% and 0%, and the scheme sits in the High Risk category.
Our view is that this is a focused bank index fund that can suit investors who want concentrated exposure to banking names and can tolerate sharp swings. The recent 1-year outcome is modest, while the 3-year record is steadier; the portfolio is dominated by large private and public banks, so the fund’s path will largely follow the banking cycle.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹14.859 as of 16 Sep 2026 |
| AUM | ₹648 Cr |
| Expense Ratio | 0.16% |
| Launch Date | 04 Feb 2022 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Ashutosh Shirwaikar |
The fund is managed by Ashutosh Shirwaikar.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.11% | -4.41% |
| 3M | -1.82% | -3.6% |
| 1Y | 2.42% | -7.76% |
| 3Y | 7.33% | 5.74% |
| 5Y | Data not available | Data not available |
The recent pattern is mixed but not weak in relative terms. Over 1 month and 3 months, the fund fell, yet it declined less than the benchmark in both periods, which suggests it held up better than the benchmark during the same stretch.
The 1-year figure is more notable because the fund is positive while the benchmark is negative. That gap points to better medium-term resilience, even though the absolute return is still modest for an equity fund and does not point to a strong momentum phase.
At the 3-year horizon, the fund remains ahead of the benchmark, which supports the idea that its banking exposure has compounded more effectively than the wider comparison index over that period. The shorter windows, however, show that the ride has not been smooth, and recent softness can appear even after a stronger 3-year pattern.
The 5-year return is listed as unavailable because the scheme itself is much newer than that horizon. For an index fund built around banks, that is important context: investors are not looking at a long full-cycle record here, but at a relatively young scheme whose results will remain sensitive to banking-sector moves.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Navi Nifty Bank 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 Navi Nifty Bank Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Navi Nifty Bank Index Fund Direct Growth Plan | 2.42% | 7.33% | Data not available |
| 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.
The fund’s 1-year return trails the stronger peer figures in this set, while its 3-year return is also lower than the better multi-year numbers available for comparable index funds here. That said, the comparison is not one-sided: the fund’s banking focus makes it a different exposure from the broader thematic and overseas-style strategies in the table, so the short-term gap does not automatically make the scheme unsuitable.
The key takeaway is that the current fund looks more measured than the leading peer figures on both short and medium horizons. Its own longer-term profile is steadier than its latest 1-year result suggests, but the available peer data still leaves it looking modest on absolute return terms. For investors, that creates a clear trade-off between narrow sector exposure and the possibility of uneven performance versus other index-style options.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 17.02% |
| ICICI Bank Limited | Bank | 14.85% |
| State Bank of India | Bank | 10.27% |
| Kotak Mahindra Bank Limited | Bank | 9.88% |
| Axis Bank Limited | Bank | 9.2% |
| The Federal Bank Limited | Bank | 7.15% |
| Indusind Bank Limited | Bank | 5.44% |
| AU Small Finance Bank Limited | Bank | 4.82% |
| IDFC First Bank Limited | Bank | 4.68% |
| Bank of Baroda | Bank | 3.48% |
The largest holding, HDFC Bank Limited, carries a 17.02% weight, so it is likely to have the biggest single-company influence on the fund’s day-to-day movement. The next few positions are also large, which means the portfolio does not rely on one name alone, but the top end is still clearly important.
Weight declines fairly quickly from the first to the tenth holding, from 17.02% to 3.48%. That drop suggests the fund is tilted toward a handful of dominant bank stocks rather than being evenly spread across many small positions, even though the tail does broaden beyond the top ten.
The top 10 holdings account for approximately 86.79% of the portfolio, and the scheme discloses 14 holdings in total. That points to a concentrated structure with a meaningful longer tail, so performance may be shaped most strongly by the largest banks while the remaining holdings add some diversification within the same sector.
To see all holdings, visit the Navi Nifty Bank Index Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk and want a banking-sector index exposure rather than a broad market basket. The return pattern shows a modest 1-year outcome, a better 3-year result, and a benchmark comparison that has been supportive over those same periods, so the fund can appeal to people who can stay invested through uneven stretches.
The main trade-off is concentration: the portfolio is heavily anchored in a small set of banks, so the fund can move sharply when banking sentiment changes. It is better matched to a multi-year horizon and to investors who understand that a sector fund can lag or lead the broader market depending on the cycle.
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 16 Sep 2026
Frequently asked questions
What is the current NAV of Navi Nifty Bank Index Fund Direct Growth Plan?
Its NAV is ₹14.859 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 2.42%, its 3-year return is 7.33%, and its 5-year return is Data not available.
How does it compare with the benchmark?
It is ahead of the benchmark over 1 year and 3 years, while both the fund and benchmark were weaker over the recent 1-month and 3-month periods.
How does it compare with the peer funds listed here?
Its 1-year and 3-year returns are lower than the stronger peer figures shown here, though the peer set includes funds with different themes and return patterns.
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 Ashutosh Shirwaikar, and the exit load is no exit load.
Bottom line
Navi Nifty Bank Index Fund Direct Growth Plan has a weaker recent 1-year result than its 3-year record, but it still stays ahead of the benchmark over both those horizons. The peer set shows stronger absolute returns elsewhere, yet this fund remains distinct because it is a concentrated bank index strategy. Its High Risk profile and heavy weight in a few large banks make it better suited to investors who want a focused sector allocation and can accept uneven performance through the cycle.
Published on 17 September 2026 at 1:43 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.