SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 Index Fund Direct Growth Plan is at ₹10.2584 as of 16 Sep 2026, with scheme AUM of ₹42 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0%, and 0%, and the risk category is Balanced Risk.
Our view is that this is a short-duration, state-gilt-focused debt index fund best read as a low-turnover fixed-income allocation rather than a return-chasing product. The portfolio is concentrated in dated government securities maturing in 2029, so the fund’s behaviour is likely to matter more from yield and price stability than from diversification across many sectors.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.2584 as of 16 Sep 2026 |
| AUM | ₹42 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 26 May 2026 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | No exit load |
| Fund Managers | Rajeev Radhakrishnan, Jignesh Shah, Ranjana Gupta |
The fund is managed by Rajeev Radhakrishnan, Jignesh Shah, and Ranjana Gupta.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.49% | -4.41% |
| 3M | 0.97% | -3.60% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is steadier than the benchmark. Over 1 month, the fund slipped modestly, while the benchmark fell much more sharply, which suggests the portfolio held up better in a weak period. Over 3 months, the fund moved into positive territory even as the benchmark remained negative, so the short-term read-through is that the structure has been more resilient than the comparison index.
Because the fund launched only in May 2026, there is no long operating history for 1-year, 3-year or 5-year trailing return comparisons. That makes the recent monthly and quarterly behaviour more relevant than a longer record. For now, the fund’s return path looks relatively contained, which is consistent with a portfolio built around government and state government securities rather than more volatile assets.
The benchmark comparison is also useful in a narrower sense. The fund has been less weak than the benchmark in the available windows, but the gap mainly reflects downside protection rather than strong absolute gains. That means the fund may appeal more to investors who care about stability of capital movement and predictable fixed-income exposure than to those looking for sharp upside.
Overall, the performance profile so far points to a conservative debt-style allocation with limited price swings in the observed window. The shorter-term figures look better than the benchmark’s, but the absence of longer trailing history means the fund still has a limited track record for deeper performance judgment.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 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 SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 Index Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| HDFC CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Axis Nifty50 Equal Weight Index Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Axis Nifty Energy Index Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 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 comparison set is not very revealing on trailing return history because the available return values are unavailable for the listed peers. Even so, the fund’s recent 1M and 3M figures are clearer than those peers’ missing trailing numbers, and they show a modestly steadier short-term path versus the benchmark. That makes the near-term behaviour easier to judge than the longer-horizon record.
Because 3Y and 5Y figures are not available for the peer list either, we do not see a meaningful longer-run contrast from this table. The practical takeaway is that the short-term evidence still matters more here than any longer-term return gap, and the fund’s available performance looks more controlled than the benchmark’s recent movement.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 6.77% State Government of Tamil Nadu 2029 | Government Securities | 23.16% |
| 7.29% State Government of Uttar Pradesh 2029 | Government Securities | 11.73% |
| 7.14% State Government of Karnataka 2029 | Government Securities | 11.70% |
| 6.75% State Government of Himachal Pradesh 2029 | Government Securities | 11.56% |
| 6.55% State Government of Tamil Nadu 2029 | Government Securities | 11.51% |
| 6.79% CGL 2029 | Government Securities | 10.61% |
| 7.26% State Government of Gujarat 2029 | Government Securities | 8.22% |
| TREPS | Cash & Cash Equivalents and Net Assets | 4.07% |
| 7.24% State Government of Gujarat 2029 | Government Securities | 3.52% |
| 7.17% State Government of Tamil Nadu 2029 | Government Securities | 2.34% |
The largest holding alone is 23.16%, so one security is likely to have greater influence on day-to-day portfolio behaviour than the rest. After that, weights step down fairly quickly into the low double digits, which suggests the fund is not relying on just one position, even though the top bucket is still meaningful.
By the tenth holding, the weight has fallen to 2.34%, so the difference between the first and tenth positions is quite wide. That gap indicates a portfolio that is concentrated in a handful of government securities, with the larger holdings carrying most of the visible impact on the fund.
The top 10 holdings account for approximately 98.42% of the portfolio, and the table disclosed 11 holdings in total. That means the visible book is heavily concentrated rather than spread across a long tail. Given the mix of state government securities, one central government-linked security and cash equivalents, the structure looks tightly focused on dated sovereign-style exposure.
To see all holdings, visit the SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 Index Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund may suit investors who can accept moderate risk and who want a relatively steady fixed-income allocation rather than a high-growth equity-style outcome. The available short-term return pattern has been better than the benchmark’s recent movement, but the fund is still too new for a longer trailing record, so a longer horizon and a patient mindset matter.
It is most relevant for investors comfortable with concentrated government and state government security exposure and who can live with the fact that returns may be driven more by rate and price movements than by broad diversification. The main trade-off is lower visible volatility in exchange for limited upside potential and a short performance history.
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 SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 Index Fund Direct Growth Plan?
Its NAV is ₹10.2584 as of 16 Sep 2026.
What are the fund’s recent returns?
The fund’s 1-month return is -0.49% and its 3-month return is 0.97%. The 1-year, 3-year and 5-year return fields are not available for this fund.
How has the fund done versus the benchmark?
It has held up better than the benchmark in the available windows. The benchmark’s 1-month figure is -4.41% and its 3-month figure is -3.60%, both weaker than the fund’s corresponding returns.
How does the fund compare with the listed peers?
The peer table does not provide usable trailing return figures for comparison, so a direct long-term comparison is not possible from the available numbers. The fund’s short-term path is the clearest point of reference.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
What risk level and exit load does the fund have?
It carries a Balanced Risk tag and has no exit load. The portfolio is concentrated in government securities and TREPS, which fits the fund’s fixed-income style.
Bottom line
This fund’s early return pattern looks steadier than the benchmark’s recent movement, but its longer trailing history is still unavailable because it launched only in May 2026. The portfolio is tightly focused on state government securities maturing in 2029, with a small cash-equivalent buffer, so the fund’s behaviour is likely to stay closely tied to that fixed-income structure. It may suit investors looking for a measured, moderate-risk debt allocation with limited complexity and no exit load.
Published on 17 September 2026 at 4:51 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.