Qsif Equity Ex-Top 100 Long-Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Qsif Equity Ex-Top 100 Long-Short Fund Direct Growth Plan is at ₹11.4722 as of 17 September 2026, with scheme AUM of ₹419 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the Medium Risk category. Our view is that this is a newer, limited-history strategy that may appeal to investors who are comfortable with a differentiated long-short approach and want to watch how it builds a track record rather than rely on a long past return history.
Benchmark behaviour has been mixed, with the fund showing a better short-run outcome than NIFTY 50 over the latest periods, while the longer record is still too short to judge in a classic multi-year sense. The portfolio is also distinctive because a large cash and cash-equivalent holding sits alongside selective equity bets, which may help cushion day-to-day swings but can also make returns depend heavily on a small set of positions.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.4722 as of 17 Sep 2026 |
| AUM | ₹419 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 12 Nov 2025 |
| Min SIP | ₹1,000 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Exit Load | 1% on or before 15D, Nil after 15D |
| Fund Managers | Sandeep Tandon, Sameer Kate, Jignesh Shah, Ankit Pande |
The fund is managed by Sandeep Tandon, Sameer Kate, Jignesh Shah and Ankit Pande.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.06% | -3.66% |
| 3M | 9.77% | -3.71% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The latest short-term readings point to a fund that has held up better than the benchmark in the near term. Over 1 month, the fund was marginally positive while NIFTY 50 was negative, and over 3 months the gap is much wider in the fund’s favour. That matters because this strategy appears to be doing something meaningfully different from the benchmark rather than simply moving with it.
The time pattern also suggests a climb with intermittent pauses rather than a smooth straight-line advance. There are short bursts of improvement followed by small pullbacks, which is consistent with a portfolio that mixes equity positions with a sizeable cash buffer and selective stock-level bets. For investors, that means the path can look steadier than a pure directional equity fund in some phases, but the benefit depends on whether those active positions keep working.
Because the fund launched only in November 2025, there is no meaningful 1-year, 3-year or 5-year trailing record to judge in the usual way. That makes the near-term comparison with the benchmark more useful than any long-horizon interpretation. Our view is that this is best read as an early-stage performance profile rather than a mature long-term compounding story.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Qsif Equity Ex-Top 100 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 Qsif Equity Ex-Top 100 Long-Short? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Qsif Equity Ex-Top 100 Long-Short Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Baroda BNP Paribas Gold ETF FoF Direct Growth Plan | 34.39% | Data not available | Data not available |
| HDFC Innovation Fund Direct Growth Plan | 14.3% | Data not available | Data not available |
| Bajaj Finserv Small Cap Fund Direct Growth Plan | 13.33% | Data not available | Data not available |
| Quant Equity Savings Fund Direct Growth Plan | 8.75% | Data not available | Data not available |
| Kotak Active Momentum Fund Direct Growth Plan | 6.31% | 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 1-year figures, the current fund does not have a comparable trailing return, so the peer set provides context more than a direct scorecard. The strongest peer figure in the list is well above the current fund’s disclosed performance history, but those figures belong to different strategies and should be read carefully rather than treated as a like-for-like verdict. The current fund’s short-term benchmark outperformance, however, does show some early relative strength versus NIFTY 50.
For longer horizons, the picture is simple: the current fund does not yet have a 3-year or 5-year record, while the peer funds listed here also show no usable 3-year or 5-year figures. That means the comparison is mostly about the first stage of the strategy’s journey. The short-term peer view and the benchmark view tell the same story: the fund has shown a distinctive start, but there is not yet enough long-run history to call it an established compounding leader.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS 03-Aug-2026 Depo 10 | Cash & Cash Equivalents and Net Assets | 20.16% |
| Adani Energy Solutions Limited | Power | 7.28% |
| Caliber Mining and Logistics Limited | Trading | 6.25% |
| 63 Moons Technologies Limited | IT | 6.14% |
| Sona BLW Precision Forgings Limited | Automobile & Ancillaries | 6.08% |
| Indo-Mim Limited | Domestic Equities | 5.73% |
| JSW Infrastructure Limited | Logistics | 5.24% |
| Indus Towers Limited | Telecom | 4.41% |
| UPL Limited | Chemicals | 3.36% |
| Premier Energies Limited | Trading | 2.91% |
The top 10 holdings account for approximately 67.56% of the portfolio.
To see all holdings, visit the Qsif Equity Ex-Top 100 Long-Short Fund Direct Growth Plan page
The largest disclosed holding is TREPS 03-Aug-2026 Depo 10 at 20.16%, which is a meaningful cash and cash-equivalent position. After that, the weights step down into the high single digits and mid-single digits, so the portfolio does not look dominated by one stock alone, but it is still clearly led by a few sizeable positions.
That taper from the largest line item to the tenth holding suggests a measured concentration profile. The combined weight of the top 10 holdings is 67.56%, and the fund has 31 disclosed holding rows in total, so the visible book is not extremely broad at the top. In our view, this kind of structure may give the managers room to express selective ideas while keeping a large buffer in cash-like assets.
The allocation pattern also means a handful of holdings could have greater influence on near-term returns than the rest of the list. Investors who prefer very diversified, fully invested equity exposure may find that mix different from a conventional long-only equity fund, while those comfortable with a more tactical profile may see it as a deliberate part of the strategy.
Source data date: as of 17 Sep 2026
Who should invest
This fund fits investors who can accept Medium Risk and are comfortable with a newer strategy that does not yet have a long performance history. The short-term return pattern has been better than the benchmark, but the absence of 3-year and 5-year trailing records means it should be treated as an evolving track record rather than a proven long-term compounder.
A longer horizon makes more sense here than a short holding period, especially because the portfolio combines a large cash-like holding with selective stock exposure. The main trade-off is that the structure may help with stability and tactical flexibility, but it also leaves investors relying on a limited number of active positions to drive results.
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 15D, Nil after 15D.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Qsif Equity Ex-Top 100 Long-Short Fund Direct Growth Plan?
The current NAV is ₹11.4722 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available.
How has it behaved versus Nifty 50 recently?
It has outperformed NIFTY 50 in the latest 1-month and 3-month periods, with 0.06% versus -3.66% over 1 month and 9.77% versus -3.71% over 3 months.
How does it compare with the peer funds listed here?
Its short-term figure is not directly comparable because the fund does not yet have a usable 1-year trailing return, while several peers do. The available peer list shows a wide spread of 1-year figures, from 6.31% to 34.39%.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
What is the fund’s risk category and exit load?
It is in the Medium Risk category. The exit load is 1% on or before 15D and nil after 15D.
Bottom line
Qsif Equity Ex-Top 100 Long-Short Fund Direct Growth Plan is still building its record, so the recent short-term outperformance matters more than any long-run conclusion. The fund has held up better than NIFTY 50 over the latest periods, but it does not yet have a meaningful 1-year, 3-year or 5-year trailing history. Its cash-heavy opening position and selective stock exposures give it a different profile from a plain equity fund, which may suit investors who accept Medium Risk and want a tactical, early-stage strategy.
Published on 18 September 2026 at 8:42 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.