SBI Infrastructure Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI Infrastructure Fund Direct Growth Plan has a NAV of ₹54.4549 as of 09 September 2026 and a scheme AUM of ₹4,810 Cr. Its 1-year, 3-year and 5-year returns are 5.53%, 13.26% and 16.08%, and the fund is in the High Risk category.
Our view is that this is a cyclical equity fund that has rewarded patient holding over longer periods, but it has also shown sharp short-term swings. The portfolio leans toward infrastructure-linked and large operating businesses, so it may suit investors who can stay with volatility and are comfortable with a higher-risk equity allocation.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹54.4549 as of 09 Sep 2026 |
| AUM | ₹4,810 Cr |
| Expense Ratio | 1.13% |
| Launch Date | 02 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 | Bhavin Vithlani |
The fund is managed by Bhavin Vithlani.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.72% | -4.69% |
| 3M | 1.51% | 0.93% |
| 1Y | 5.53% | -7.16% |
| 3Y | 13.26% | 6.00% |
| 5Y | 16.08% | 5.87% |
The latest 1-month and 3-month pattern shows a fund that has been uneven, but not directionless. It has moved through weaker stretches and partial recoveries, which is typical of a sector-tilted equity portfolio where sentiment can shift quickly.
The stronger point is the medium- and long-term picture. Over 3 years and 5 years, the fund has compounded ahead of the benchmark, and the gap is meaningful. That tells us the strategy has been able to convert its sector exposure into better long-run results than the benchmark measured here.
Recent behaviour is mixed rather than uniformly strong. The 1-year return is positive at 5.53%, while the benchmark is negative over the same horizon, so the fund has held up better than the index in the trailing year. At the same time, the short-term swings remind us that this is not a smooth-return product.
For investors, the main takeaway is that the fund has not only outpaced the benchmark over 3 years and 5 years, but has also preserved some relative resilience in the trailing year. The trade-off is volatility, especially when the market rotates away from infrastructure and related cyclical themes.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD SBI Infrastructure?
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 Infrastructure? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI Infrastructure Fund Direct Growth Plan | 5.53% | 13.26% | 16.08% |
| 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.
The fund’s 1-year return is well below the strongest peer numbers listed here, but the comparison changes when we look further out. On 3-year and 5-year performance, SBI Infrastructure Fund Direct Growth Plan shows a steadier long-run result than peers where those periods are available, while several of the peer entries have no comparable 3-year or 5-year figure. That makes the short-term and long-term comparison tell different stories.
In our view, the main point is not chasing the highest trailing 1-year return, because the available peer set includes more cyclical and sector-specific strategies with sharply different recent outcomes. The more useful read is that this fund has delivered a calmer long-term compounding profile than its benchmark and has remained relevant in a peer group that is itself shaped by high thematic swings.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Reliance Industries Ltd. | Crude Oil | 11.55% |
| Bharti Airtel Ltd. | Telecom | 6.03% |
| Larsen & Toubro Ltd. | Infrastructure | 5.05% |
| Shree Cement Ltd. | Construction Materials | 4.82% |
| Siemens Ltd. | Capital Goods | 4.19% |
| Adani Ports and Special Economic Zone Ltd. | Logistics | 3.97% |
| Bharat Heavy Electricals Ltd. | Capital Goods | 3.68% |
| Adani Enterprises Ltd. | Trading | 3.27% |
| Torrent Power Ltd. | Power | 3.03% |
| Grindwell Norton Ltd. | Abrasives | 2.94% |
The largest holding, Reliance Industries Ltd., carries a weight of 11.55%, so it is large enough to matter but not so dominant that the fund appears to depend on one position alone. The tenth holding is still 2.94%, which shows that the leading slice is spread across several sizeable names rather than dropping immediately after the top stock.
The fall from 11.55% to 2.94% is fairly clear, yet the top positions remain meaningful across the table. That kind of spacing suggests the portfolio may feel anchored by a few major holdings, especially in large operating businesses linked to infrastructure themes, but it is not concentrated in a single position to an extreme degree.
The top 10 holdings account for approximately 48.53% of the portfolio, and the fund discloses 43 holdings in total. Our view is that this points to a mix of concentration at the top and a longer tail underneath, which may help diversify single-stock risk while still keeping the portfolio theme visible.
To see all holdings, visit the SBI Infrastructure Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund may suit investors with a high tolerance for equity volatility and a long enough horizon to absorb short-term swings. The 1-year number is positive but modest, while the 3-year and 5-year figures are stronger, so the evidence favours patient holding over quick trading.
The key trade-off is that the strategy can lag or move unevenly over shorter periods, even when the longer-term path is better than the benchmark. Investors who want smoother outcomes may find the ride uncomfortable, while those willing to accept cyclical moves may view the infrastructure tilt as the main attraction.
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 Infrastructure Fund Direct Growth Plan?
The current NAV is ₹54.4549 as of 09 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 5.53% over 1 year, 13.26% over 3 years and 16.08% over 5 years.
How does it compare with the benchmark?
It has outperformed the benchmark over 1 year, 3 years and 5 years. The benchmark return is -7.16% over 1 year, 6.00% over 3 years and 5.87% over 5 years.
Which peer fund has the highest 1-year return in the comparison set?
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan has the highest listed 1-year return at 71.49%, while several peers do not have comparable 3-year or 5-year figures.
Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Bhavin Vithlani. The exit load is 0.50% if units are sold on or before 30 days, and nil after 30 days.
Bottom line
SBI Infrastructure Fund Direct Growth Plan looks stronger over medium and long horizons than in the very short term, which fits a theme-led equity fund rather than a smooth-return product. It has stayed ahead of the benchmark across the return periods provided, and its peer comparison shows that the 1-year picture is not the whole story. The portfolio is led by a few meaningful holdings, yet it still spans 43 stocks, so the exposure is not narrowly single-name driven. The fund is best viewed by investors who can tolerate High Risk volatility and wait for the cycle to play out.
Published on 10 September 2026 at 12:02 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.