SBI Comma Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI Comma Fund Direct Growth Plan is a high-risk equity fund with a NAV of ₹130.0798 as of 09 Sep 2026 and an AUM of ₹1,236 Cr. Its 1-year, 3-year and 5-year returns are 14.84%, 16.16% and 11.52%, respectively. With a high-risk profile and a portfolio tilted toward cyclical and stock-specific positions, our view is that it suits investors who can tolerate sharp swings and are comfortable with a differentiated equity approach.
The fund has stayed ahead of the Nifty 50 over 1 year, 3 years and 5 years, which supports the case for keeping it in the conversation for long-term equity allocations. That said, the recent path has been uneven, so the better fit is someone looking beyond short-term noise rather than someone seeking steady, low-volatility returns.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹130.0798 as of 09 Sep 2026 |
| AUM | ₹1,236 Cr |
| Expense Ratio | 1.68% |
| Launch Date | 04 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 0.50% on or before 30D, Nil after 30D |
| Fund Managers | Dinesh Balachandran |
The fund is managed by Dinesh Balachandran.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.73% | -4.69% |
| 3M | 5.54% | 0.93% |
| 1Y | 14.84% | -7.16% |
| 3Y | 16.16% | 6.00% |
| 5Y | 11.52% | 5.87% |
The recent numbers are useful because they show this fund is not simply relying on a long-running trend. Over 1 month and 3 months, the pattern has been choppy but constructive: the fund stayed positive while the benchmark was weaker over 1 month and only mildly positive over 3 months. That tells us the strategy can hold up in selected stretches, even when broad-market conditions are mixed.
The longer view is stronger. The fund’s 1-year return of 14.84% is well above the benchmark’s -7.16%, which points to a clear separation in the most recent full-year period. The 3-year and 5-year returns also remain ahead of the Nifty 50, so the fund has not just benefited from a short-lived burst. Our view is that the return profile suggests active positioning rather than index-like behaviour.
At the same time, the fund’s path has not been smooth. The 1-year series shows periods of pressure followed by recovery, and the 3-year and 5-year patterns also include meaningful drawdowns before the later rebound. That is consistent with a high-risk equity fund that may move differently from the market over shorter windows, while still preserving a positive compounding path over longer periods.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD SBI Comma?
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 SBI Comma? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI Comma Fund Direct Growth Plan | 14.84% | 16.16% | 11.52% |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 71.49% | 36.55% | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 30.08% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 28.85% | Data not available | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 28.60% | Data not available | Data not available |
| PGIM India Healthcare Fund Direct Growth Plan | 27.47% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. Against the peer set on 1-year numbers, this fund trails the strongest recent outcomes but still remains clearly positive while several peers have delivered much higher short-term gains. On 3-year and 5-year figures, the fund’s returns are available and remain solid, while most peers in this slice do not show 3-year or 5-year figures, so the longer-horizon comparison is less complete. The key takeaway is that the short-term gap versus the strongest peers is visible, but the fund’s longer-term path still looks steadier than a pure one-period story.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Sudeep Pharma Ltd. | Healthcare | 6.73% |
| Tata Steel Ltd. | Iron & Steel | 6.38% |
| JSW Steel Ltd. | Iron & Steel | 5.29% |
| Oil & Natural Gas Corporation Ltd. | Crude Oil | 4.25% |
| TREPS | Cash & Cash Equivalents and Net Assets | 3.82% |
| Cesc Ltd. | Power | 3.75% |
| Gokaldas Exports Ltd. | Textile | 3.69% |
| Arvind Ltd. | Textile | 3.42% |
| Ultratech Cement Ltd. | Construction Materials | 3.15% |
| Oil India Ltd. | Crude Oil | 3.07% |
The largest holding, Sudeep Pharma Ltd., carries a 6.73% weight, which is meaningful but not dominating on its own. The gap from the first holding to the tenth is not extreme, because the tenth position still stands at 3.07%, so the portfolio does not appear to rely on a single outsized bet.
What matters more is the spread across the top positions and the broader disclosed set of 41 holdings. The top 10 holdings together account for 43.55% of the portfolio, which suggests a noticeable but not overwhelming concentration in the disclosed leaders. That balance may allow individual stock selection to matter, while still leaving room for a longer tail of positions to shape outcomes.
From a sector angle, the visible holdings lean toward healthcare, metals, crude oil, power, textiles and construction materials. That mix may create stronger dependence on cyclical and stock-specific moves than a broad market basket would, so returns could be more uneven from period to period.
To see all holdings, visit the SBI Comma Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors with a high risk tolerance and a long enough horizon to absorb uneven stretches. The 1-year, 3-year and 5-year returns are all ahead of the benchmark, but the path has not been linear, so patience is important. The main trade-off is that the fund may offer better upside capture than a broad index over time, but it can also experience sharper short-term swings. That makes it more suitable for investors who can stay invested through volatility and want an actively positioned equity exposure.
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: 0.50% if units are sold on or before 30 days; nil after 30 days.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of SBI Comma Fund Direct Growth Plan?
The current NAV is ₹130.0798 as of 09 Sep 2026.
How has SBI Comma Fund Direct Growth Plan performed over 1 year, 3 years and 5 years?
Its returns are 14.84% over 1 year, 16.16% over 3 years and 11.52% over 5 years.
How does the fund compare with the Nifty 50?
It has outpaced the Nifty 50 across 1-year, 3-year and 5-year periods. The benchmark figures are -7.16%, 6.00% and 5.87% for those same horizons.
How does it compare with the peer funds listed here?
Its 1-year return is lower than the strongest peer figures shown, but its 3-year and 5-year figures remain available and positive. Several peers in the list do not show 3-year or 5-year figures.
Is there a minimum SIP amount?
The fund allows SIP investments, but no minimum SIP amount is disclosed here.
Who manages the fund and what is the exit load?
The fund is managed by Dinesh Balachandran. The exit load is 0.50% if units are sold on or before 30 days and nil after 30 days.
Bottom line
SBI Comma Fund Direct Growth Plan has a return pattern that is stronger over longer windows than over very short ones, which is typical of an actively positioned high-risk equity strategy. It compares well with the benchmark on the available 1-year, 3-year and 5-year numbers, but its recent stretch still shows some unevenness. The portfolio is not overly dependent on one position, yet it is tilted toward cyclical, stock-specific exposures that can add volatility. That makes it a better fit for investors who can accept swings in exchange for differentiated equity exposure.
Published on 10 September 2026 at 12:15 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.