SBI CRISIL-IBX Financial Services 9-12 Months Debt 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 Financial Services 9-12 Months Debt Index Fund Direct Growth Plan is an income-oriented debt index fund with a current NAV of ₹10.2679 as of 16 Sep 2026 and scheme AUM of ₹367 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the Balanced Risk category. In our view, it suits investors who want a short-duration, credit-sensitive debt exposure and can accept that performance is still too new to show a longer return history.
The fund has a low expense ratio of 0.0% and a portfolio built around CDs, corporate debt and commercial paper. That mix may keep the outcome tied closely to the short-end debt market rather than to equity-like growth.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.2679 as of 16 Sep 2026 |
| AUM | ₹367 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 21 Apr 2026 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Rajeev Radhakrishnan, Ranjana Gupta, Sankalp Jain |
The fund is managed by Rajeev Radhakrishnan, Ranjana Gupta, and Sankalp Jain.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.44% | -4.41% |
| 3M | 1.85% | -3.6% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The short-term picture is steadier than the benchmark. Over 1 month and 3 months, the fund has held a small positive path while the benchmark has stayed negative, which suggests the portfolio has been more defensive in the recent period.
That said, the fund is still very new, so there is no meaningful 1-year, 3-year or 5-year return history to judge long-run compounding. For a debt index fund, that matters because the main question is not just whether the recent phase looks stable, but whether the structure can stay orderly through a full rate cycle.
The recent return pattern points to limited day-to-day movement, with only modest gains rather than sharp swings. Our view is that this makes the fund more useful for investors who care about short-horizon debt exposure and lower volatility, rather than those looking for a long operating record or a proven multi-year return profile.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD SBI 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 SBI CRISIL-IBX Financial Services 9-12 Months Debt Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan | Data not available | Data not available | 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 near-term return profile is clearly lower than the peer set shown here, but the comparison is not entirely like-for-like because the peers cover very different market themes. Even so, the table shows that funds with available 1-year figures have posted materially higher gains than this debt index fund has in its brief history.
Longer-horizon peer figures are also not especially helpful for this fund yet, because its own 3-year and 5-year numbers are not available. That makes the short-term comparison the more relevant one today. On that basis, the fund looks calmer, while the peer set displays far stronger upside in the available return windows.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Bank of Baroda | Certificate of Deposit | 11.9% |
| Small Industries Development Bank of India | Certificate of Deposit | 11.89% |
| Punjab National Bank | Certificate of Deposit | 7.94% |
| Mahindra Rural Housing Finance Ltd. | Corporate Debt | 6.84% |
| Aditya Birla Housing Finance Ltd. | Corporate Debt | 6.83% |
| Bajaj Housing Finance Ltd. | Corporate Debt | 6.8% |
| Mahindra & Mahindra Financial Services Ltd. | Commercial Paper | 6.59% |
| Aditya Birla Capital Ltd. | Commercial Paper | 6.58% |
| Union Bank of India | Certificate of Deposit | 6.58% |
| Bajaj Finance Ltd. | Commercial Paper | 6.56% |
The largest holding is Bank of Baroda at 11.9%, which is a meaningful single-position weight for a debt portfolio of this type. The gap from the first holding to the tenth is not extreme, but the top end still carries visible influence because several positions sit around the 6.5% to 7% mark.
The top 10 holdings account for approximately 78.51% of the portfolio. Since the scheme discloses 16 holdings in total, the visible book appears concentrated in a relatively small group of short-duration debt instruments, with a longer tail outside the top ten that may still matter for day-to-day tracking.
That structure may suit investors who are comfortable with a portfolio where a handful of issuers can shape the outcome more than a broad, highly diversified book would. At the same time, the mix across CDs, corporate debt and commercial paper suggests the fund is not relying on a single security type alone.
To see all holdings, visit the SBI CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund fits investors who are comfortable with a balanced-risk debt allocation and who want a short-duration product rather than a long equity-style growth story. The recent returns have been modestly positive, while the benchmark has been weaker over the same short windows, so the fund may appeal to people who value steadier behaviour in the near term.
The main trade-off is that there is no meaningful long performance record yet, so investors have limited evidence on how it will behave across a full cycle. The portfolio is also concentrated in a limited set of issuers, which can help keep the structure focused but leaves less room for broad diversification. A medium horizon is more sensible here than a very short trading view.
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 Financial Services 9-12 Months Debt Index Fund Direct Growth Plan?
The current NAV is ₹10.2679 as of 16 Sep 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. The scheme is still very new, so it does not yet have a meaningful long-track return record.
How has the fund compared with its benchmark recently?
Over 1 month and 3 months, the fund has been positive at 0.44% and 1.85%, while the benchmark has been negative at -4.41% and -3.6%. That points to a steadier recent path for the fund.
How does the fund compare with the peer funds shown here?
The peer funds shown have much stronger available 1-year figures, while this fund does not yet have a comparable 1-year record. The short-term comparison therefore favours the peers on return, but the schemes are also very different in what they invest in.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Rajeev Radhakrishnan, Ranjana Gupta and Sankalp Jain. The exit load is no exit load.
Bottom line
This fund’s near-term behaviour is steadier than its benchmark, but it still lacks a meaningful long return history. The peer set shown here has materially stronger available 1-year figures, while this scheme is positioned more as a short-duration debt holding with a focused portfolio of CDs, corporate debt and commercial paper. In our view, it suits investors who want a balanced-risk debt allocation and can accept that the main story today is portfolio construction and short-term stability rather than a proven multi-year record.
Published on 17 September 2026 at 4:41 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.