Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 21, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan has a NAV of ₹10.3818 as of 18 Sep 2026 and an AUM of ₹534 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme carries a Balanced Risk label. Our view is that it fits investors who want a short-tenor debt index allocation with a stable profile, but the limited return track record means expectations should be framed around modest movement rather than strong capital growth.
The fund’s holdings are concentrated in financial-services debt instruments, so the return pattern is likely to remain tied to that segment’s credit and rate sensitivity. For investors comparing it with a benchmark or with other debt options, the recent numbers suggest a narrow operating window rather than a long performance history.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.3818 as of 18 Sep 2026 |
| AUM | ₹534 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 02 Mar 2026 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load |
| Fund Managers | Vikash Agarwal |
The fund is managed by Vikash Agarwal.
Source data date: as of 18 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.54% | -3.73% |
| 3M | 1.81% | -3.14% |
| 1Y | 0% | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The short-dated return pattern is steadier for the fund than for the benchmark. Over 1M and 3M, the fund stayed positive while the benchmark moved lower, which suggests the scheme held up better in the latest stretch of trading. That kind of relative resilience can matter for investors who want a debt allocation that does not swing sharply with the broader market.
At the same time, the fund is still very new, so its visible history is short. The 1-year figure does not yet show a mature compounding record, and there is no usable 3-year or 5-year history in the current record. That means we can comment on recent behaviour, but not on a full cycle of performance through different rate conditions.
Against the benchmark, the fund currently looks more stable in the near term. The benchmark’s negative readings over 1M and 3M show that the comparison set has been weaker in the latest period, while the fund remained modestly positive. Even so, the available history is too limited to treat this as proof of a persistent edge.
For now, our reading is that the scheme’s main appeal is short-duration stability rather than a strong long-run return story. Investors should judge it more as a cash-plus or short-horizon debt allocation than as a fund with an established multi-year track record.
Source data date: as of 18 Sep 2026
Should you BUY or HOLD Nippon India CRISIL-IBX Financial Services 9-12 Months Debt 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 Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index 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.
The peer set available here does not give us a broader spread of return histories, so the comparison is mainly directional. The current fund’s recent positive short-term pattern is more helpful than the longer figures, which are not available for comparison. That leaves the latest 1M and 3M behaviour as the clearest signal, and on that basis the fund has been steadier than the benchmark while the peer rows do not add a stronger long-term contrast.
Source data date: as of 18 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.72% Bajaj Finance Limited** | Corporate Debt | 11.22% |
| Small Industries Dev Bank of India | Certificate of Deposit | 9.93% |
| 7.14% Bajaj Housing Finance Limited** | Corporate Debt | 9.34% |
| Aditya Birla Capital Limited** | Commercial Paper | 9.08% |
| Kotak Mahindra Prime Limited** | Commercial Paper | 9.02% |
| 8.1% Tata Capital Housing Finance Limited** | Corporate Debt | 4.69% |
| 8.3% Tata Capital Limited | Corporate Debt | 4.69% |
| Bank of Baroda | Certificate of Deposit | 4.54% |
| LIC Housing Finance Limited** | Commercial Paper | 4.53% |
| Tata Capital Limited** | Commercial Paper | 4.53% |
The largest holding is 7.72% Bajaj Finance Limited** at 11.22%, which is a meaningful single position for a debt index fund. From there, weights step down fairly quickly into the 9% range and then into a cluster around 4.5% to 4.7%, so the portfolio does not look like a one-name dominated book.
The top ten holdings together account for approximately 71.57% of the portfolio, and there are 26 disclosed holdings in total. That tells us the fund is fairly concentrated in the leading positions, but it still leaves a long tail of smaller holdings beyond the visible list. In practice, the larger positions may have greater influence on short-term changes in the fund’s value, especially because the exposure is concentrated in financial-services names and cash-like instruments.
At the same time, the mix is not concentrated in just one or two securities. The spread from the largest holding to the tenth shows a clear decline, but several holdings sit close together in size. That balance may help keep individual-name influence contained, while still making the portfolio sensitive to a small set of issuers and instruments.
To see all holdings, visit the Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan page
Source data date: as of 18 Sep 2026
Who should invest
This fund suits investors who can accept a low-to-moderate risk debt allocation and are comfortable with a very short performance history. The Balanced Risk label suggests it is not meant for investors looking for capital protection at any cost, but its recent short-term behaviour has been steadier than the benchmark. That combination points to an investor who wants a short-horizon debt allocation and is willing to accept some variability in exchange for indexed financial-services exposure.
The main trade-off is that the fund currently has only limited evidence across longer time periods. That makes it more suitable for investors who are focusing on near-term stability and portfolio parking rather than those who need a proven multi-year return record.
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 18 Sep 2026
Frequently asked questions
What is the current NAV of Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan?
Its NAV is ₹10.3818 as of 18 Sep 2026.
What are the fund’s recent returns?
Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, but the visible performance history is still very limited because the scheme launched on 02 Mar 2026.
How has it done versus the benchmark?
The fund’s 1M return is 0.54% and its 3M return is 1.81%, while the benchmark shows -3.73% and -3.14% over the same periods. That means the fund has been steadier in the latest stretch.
What is the risk category of this fund?
It is tagged as Balanced Risk. That makes it more suitable for investors who can handle some variation in a debt allocation rather than those seeking the lowest possible movement.
Who manages the fund?
Vikash Agarwal manages the fund.
What is the exit load?
There is no exit load if units are sold anytime.
Bottom line
This fund’s recent short-term behaviour is more useful than its long-term record, because the scheme is new and does not yet have a meaningful 3-year or 5-year performance history. It has held up better than the benchmark in the latest 1M and 3M periods, but the deeper return record is still absent. The portfolio is concentrated in financial-services debt and cash-like instruments, so the fund may suit investors who want a short-horizon debt exposure with a balanced risk profile and are comfortable with limited history.
Published on 21 September 2026 at 10:19 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.