SBI CRISIL IBX Gilt Index – Apr 2029 Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI CRISIL IBX Gilt Index – Apr 2029 Fund Direct Growth Plan has a NAV of ₹13.37 as of 16 Sep 2026 and a scheme AUM of ₹1,948 Cr. Its 1-year, 3-year and 5-year returns are 4.82%, 7.46% and 0%, and it sits in the Balanced Risk category.
Our view is that this is a relatively focused gilt index strategy for investors who can stay with a bond-linked allocation over time. The portfolio is dominated by a single government security, so the fund’s behaviour is likely to track interest-rate and sovereign bond moves more closely than broad market swings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.37 as of 16 Sep 2026 |
| AUM | ₹1,948 Cr |
| Expense Ratio | 0.21% |
| Launch Date | 04 Oct 2022 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.15% on or before 30D, Nil after 30D |
| Fund Managers | Ranjana Gupta |
The fund is managed by Ranjana Gupta.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.32% | -4.41% |
| 3M | 0.64% | -3.6% |
| 1Y | 4.82% | -7.76% |
| 3Y | 7.46% | 5.74% |
| 5Y | Data not available | Data not available |
The recent pattern is steadier than the benchmark’s, which has been choppy across the shorter windows. Over 1 month and 3 months, the fund stayed close to flat, while the benchmark remained weaker. That tells us the fund has been more stable in the near term, even though it is not delivering dramatic short-term upside.
The 1-year return is the clearest positive point in the recent record. At 4.82%, the fund has held up much better than the benchmark’s -7.76%, which suggests the strategy has handled the period far more efficiently than the comparison index.
The 3-year number is still constructive at 7.46%, and it remains ahead of the benchmark’s 5.74%. That longer view matters because it shows the fund has not relied only on one good stretch; its compounding has been better than the benchmark through a broader cycle. The 5-year figure is not available, so we would avoid reading too much into the absence of that longer history.
Overall, the performance profile looks more consistent than exciting. The fund has outpaced the benchmark over the available 1-year and 3-year periods, and the short-term path has been less weak than the benchmark’s. For investors, that points to a steadier gilt exposure rather than a return profile built for sharp bursts of performance.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD SBI CRISIL IBX Gilt Index – Apr 2029?
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 Gilt Index – Apr 2029? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI CRISIL IBX Gilt Index – Apr 2029 Fund Direct Growth Plan | 4.82% | 7.46% | 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.
Against the listed peers, the fund’s 1-year return is much lower than the strongest equity-oriented index funds in the table, but that comparison is not like-for-like because the peer set includes very different strategies. What matters more is that the fund’s 3-year return stays positive and remains above the benchmark shown in this review. Where peers have longer histories, the fund’s 3-year outcome is still noticeably more modest than the stronger equity peers, which is consistent with a gilt-style profile rather than a growth-heavy one.
That creates two different stories. In the short term, the fund trails the more aggressive return leaders in the list, but in its own bond-oriented setting it has been steadier than the benchmark. Over the longer available window, the fund’s returns remain positive and controlled, which may suit investors who care more about stability than about chasing the highest recent numbers.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.10% CGL 2029 | Government Securities | 96.76% |
| Net Receivable / Payable | Cash & Cash Equivalents and Net Assets | 2.42% |
| TREPS | Cash & Cash Equivalents and Net Assets | 0.82% |
The largest holding is 7.10% CGL 2029 at 96.76%, which means the fund is almost entirely anchored to one sovereign bond. That makes the portfolio highly focused, and the single holding is likely to have greater influence on day-to-day movement than anything else in the scheme.
The weight then falls sharply to cash and near-cash items at 2.42% and 0.82%. That gap shows there is very little spread across multiple securities, so the fund is not built around a long tail of positions. Instead, the structure looks like a core government-securities exposure with small liquidity buffers around it.
Because the table discloses only three holdings and they already add up to the full visible portfolio, our view is that concentration is the defining feature here. That can support clarity of exposure, but it also means outcomes may be driven mainly by the price behaviour of the underlying bond and rate moves affecting it.
Source data date: as of 16 Sep 2026
Who should invest
This fund may suit investors who are comfortable with debt-market movement and who want a bond-linked allocation rather than equity-style upside. The Balanced Risk label and the concentrated government-security portfolio point to a strategy that is not designed for high growth bursts, even though the recent returns have been positive.
A longer horizon is more appropriate than a short trading view, because the performance pattern is smoother over 1 year and 3 years than over very short windows. The main trade-off is that the fund can offer steadier behaviour than the benchmark, but it is not structured to compete with aggressive return-focused equity categories.
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 is 0.15% if units are sold on or before 30 days, and nil after 30 days.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of SBI CRISIL IBX Gilt Index – Apr 2029 Fund Direct Growth Plan?
The current NAV is ₹13.37 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 4.82%, its 3-year return is 7.46%, and its 5-year return is Data not available.
How has the fund performed versus its benchmark?
It has outperformed the benchmark over the available 1-year and 3-year periods. The benchmark shows -7.76% for 1 year and 5.74% for 3 years, versus the fund’s 4.82% and 7.46%.
How does the fund compare with the peer funds listed here?
Its returns are more modest than the strongest peer figures shown in the table, but the comparison set includes very different strategies. Within the broader view in this review, the fund has been steadier than the benchmark and positive over the available medium term.
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 Ranjana Gupta. Exit load is 0.15% if units are sold on or before 30 days, and nil after 30 days.
Bottom line
The fund’s recent numbers look steadier than the benchmark, and its 3-year return also stays positive, which suggests a more controlled path than a volatile return story. Against the peer figures shown here, it does not chase the strongest short-term gains, but that is consistent with its gilt-oriented profile. The portfolio is extremely concentrated in one government security, so investors should expect that single exposure to matter most. It may suit a patient investor who values sovereign bond exposure and can accept moderate, interest-rate-linked movement.
Published on 17 September 2026 at 5:17 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.