{"id":253938,"date":"2026-09-17T16:39:34","date_gmt":"2026-09-17T11:09:34","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/"},"modified":"2026-09-17T16:39:34","modified_gmt":"2026-09-17T11:09:34","slug":"axis-nifty-india-defence-index-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/","title":{"rendered":"Axis Nifty India Defence Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/axis-nifty-india-defence-index-fund-g-direct-plan\">Axis Nifty India Defence Index Fund Direct Growth Plan<\/a> has a NAV of \u20b910.1233 as of 16 Sep 2026 and an AUM of \u20b9345 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme is in the High Risk category. Our view is that it suits investors who want a focused thematic equity exposure and are comfortable with sharp short-term swings rather than steady benchmark-like behaviour.<\/p>\n<p>Because the fund launched only on 29 Apr 2026, the return history is still short, and the recent pattern has been weaker than the benchmark over both 1M and 3M windows. That makes the fund more suitable as a niche allocation than as a core equity holding.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Axis_Nifty_India_Defence_Index\" title=\"Should you BUY or HOLD Axis Nifty India Defence Index?\">Should you BUY or HOLD Axis Nifty India Defence Index?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Bottom_line\" title=\"Bottom line\">Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/axis-nifty-india-defence-index-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particular<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b910.1233 as of 16 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b9345 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.0%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>29 Apr 2026<\/td>\n<\/tr>\n<tr>\n<td>Min SIP<\/td>\n<td>\u20b9100<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>High Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Index Funds<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>0.25% on or before 15D, Nil after 15D<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Nandik Mallik, Rohit Gautam<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Nandik Mallik and Rohit Gautam.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>-7.25%<\/td>\n<td>-4.41%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>-3.73%<\/td>\n<td>-3.6%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>0%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>0%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>0%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The short-window pattern has been negative, with the fund falling more than the benchmark over 1M and slightly more over 3M. That tells us the early journey has not yet shown a stable cushion versus the market move, even though the gap narrowed over 3M.<\/p>\n<p>Since the scheme started in late April 2026, the 1Y, 3Y and 5Y return fields do not offer a full performance track record in the usual sense. For a fresh thematic index fund, that matters because short launch history can be noisy and may not yet reflect how the portfolio behaves through a full market cycle.<\/p>\n<p>Against the benchmark, the fund has lagged on both recent windows. The 3M difference is small, while the 1M drawdown is more pronounced, so the latest stretch looks weaker than the medium-short stretch. That combination suggests the fund has so far been sensitive to near-term swings rather than delivering smoother tracking.<\/p>\n<p>For now, we read the pattern as a young scheme still building its performance record. Investors looking for evidence of long-run consistency will need more history, while investors focused on the defence theme may place more weight on the portfolio structure than on the still-limited return trail.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;border:1px solid #d8e3f0;background:#f7faff\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_Axis_Nifty_India_Defence_Index\"><\/span>Should you BUY or HOLD Axis Nifty India Defence Index?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>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.<\/p>\n<p><strong>Already holding Axis Nifty India Defence Index? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/axis-nifty-india-defence-index-fund-g-direct-plan\">Axis Nifty India Defence Index Fund Direct Growth Plan<\/a><\/td>\n<td>0%<\/td>\n<td>0%<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-nasdaq-100-index-fund-g-direct-plan\">ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan<\/a><\/td>\n<td>29.31%<\/td>\n<td>30.01%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/tata-nifty-capital-markets-index-fund-g-direct-plan\">Tata Nifty Capital Markets Index Fund Direct Growth Plan<\/a><\/td>\n<td>21.45%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/motilal-oswal-nifty-capital-market-index-fund-g-direct-plan\">Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan<\/a><\/td>\n<td>21.13%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/motilal-oswal-nifty-midsmall-financial-services-index-fund-g-direct-plan\">Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan<\/a><\/td>\n<td>20.68%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-nifty-pharma-index-fund-g-direct-plan\">ICICI Pru Nifty Pharma Index Fund Direct Growth Plan<\/a><\/td>\n<td>17.57%<\/td>\n<td>18.84%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.<\/p>\n<p>The current fund has a far weaker 1Y figure than the peer funds with available one-year returns, while its own longer-window fields remain unbuilt because the scheme is new. Among the peers that do have 3Y numbers, the fund also trails the two visible long-term records in this list. That creates a clear split: the short-term comparison is already soft, and the limited longer-term comparison does not yet offset it.<\/p>\n<p>For investors, the main takeaway is that this defence-focused scheme has not yet established a return record comparable with the stronger multi-year histories in the table. The peer set also shows that some thematic index funds have already accumulated longer measurement periods, so the current fund\u2019s younger age is part of the comparison itself.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin:20px 0;padding:16px 18px;border:1px solid #d8e3f0;border-radius:8px;background:#f7faff\">\n<p style=\"margin:0\"><strong>Want to know more?<\/strong> <a href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding<\/th>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Hindustan Aeronautics Limited<\/td>\n<td>Capital Goods<\/td>\n<td>21.48%<\/td>\n<\/tr>\n<tr>\n<td>Bharat Electronics Limited<\/td>\n<td>Capital Goods<\/td>\n<td>19.58%<\/td>\n<\/tr>\n<tr>\n<td>Bharat Forge Limited<\/td>\n<td>Automobile &amp; Ancillaries<\/td>\n<td>13.91%<\/td>\n<\/tr>\n<tr>\n<td>Solar Industries India Limited<\/td>\n<td>Chemicals<\/td>\n<td>12.2%<\/td>\n<\/tr>\n<tr>\n<td>Mazagon Dock Shipbuilders Limited<\/td>\n<td>Ship Building<\/td>\n<td>4.69%<\/td>\n<\/tr>\n<tr>\n<td>Mtar Technologies Limited<\/td>\n<td>Capital Goods<\/td>\n<td>3.76%<\/td>\n<\/tr>\n<tr>\n<td>Astra Microwave Products Limited<\/td>\n<td>Capital Goods<\/td>\n<td>3.51%<\/td>\n<\/tr>\n<tr>\n<td>Data Patterns (India) Limited<\/td>\n<td>Capital Goods<\/td>\n<td>3.39%<\/td>\n<\/tr>\n<tr>\n<td>Cochin Shipyard Limited<\/td>\n<td>Ship Building<\/td>\n<td>3.18%<\/td>\n<\/tr>\n<tr>\n<td>Bharat Dynamics Limited<\/td>\n<td>Capital Goods<\/td>\n<td>2.93%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The largest holding, Hindustan Aeronautics Limited, carries a 21.48% weight, so it is likely to have greater influence on day-to-day movement than any other single stock in the portfolio. The gap from the first holding to the tenth holding is wide, falling from 21.48% to 2.93%, which shows that the structure is heavily front-loaded rather than evenly spread.<\/p>\n<p>The top 10 holdings together account for approximately 88.63% of the portfolio, and the fund discloses 19 holdings in total. That suggests a concentrated build, where the biggest positions may drive most of the experience while a smaller tail of other holdings contributes less to the overall outcome.<\/p>\n<p>At the same time, concentration is not limited to one stock alone: the first four positions already make up a very large share of the displayed holdings. For investors, that means the defence theme is expressed through a compact set of names, and the fund may therefore react strongly when a few large positions move.<\/p>\n<p>To see all holdings, visit the <a href=\"https:\/\/univest.in\/mutual-funds\/axis-nifty-india-defence-index-fund-g-direct-plan\">Axis Nifty India Defence Index Fund Direct Growth Plan<\/a> page<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund fits investors who can handle High Risk exposure and are comfortable with a theme that may move sharply in the short run. The early return record is weak versus the benchmark on recent windows, so the more suitable horizon is one where an investor can tolerate volatility and wait for the theme to play out over time.<\/p>\n<p>The trade-off is straightforward: a focused defence index can offer targeted sector exposure, but it may not behave like a broad market fund and can swing more than diversified equity options. Investors who prefer steadier relative behaviour or who need a short horizon may find that mismatch hard to accept.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Exit load: 0.25% on or before 15D, Nil after 15D. There is no exit load after the holding period.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 16 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>What is the current NAV of Axis Nifty India Defence Index Fund Direct Growth Plan?<\/strong><br \/>Its current NAV is \u20b910.1233 as of 16 Sep 2026.<\/p>\n<p><strong>What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/strong><br \/>The fund\u2019s 1-year, 3-year and 5-year returns are 0%, 0% and 0%.<\/p>\n<p><strong>How has the fund done against its benchmark recently?<\/strong><br \/>It has lagged the benchmark over both the 1M and 3M periods. The gap was wider over 1M and narrower over 3M.<\/p>\n<p><strong>How does it compare with peer funds on available return data?<\/strong><br \/>Its recent return numbers are weaker than the peer funds with visible one-year records, and its limited longer-window figures do not yet close that gap.<\/p>\n<p><strong>What is the minimum SIP amount?<\/strong><br \/>The minimum SIP amount is \u20b9100.<\/p>\n<p><strong>Who manages the fund and what is the exit load?<\/strong><br \/>The fund is managed by Nandik Mallik and Rohit Gautam. The exit load is 0.25% on or before 15D and nil after 15D, with no exit load after the holding period.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Axis Nifty India Defence Index Fund Direct Growth Plan is a young, High Risk thematic index fund whose recent returns have been weaker than the benchmark on short windows. Its limited return history means the longer-term picture is not yet mature, while the portfolio itself is concentrated in a small set of defence-linked names. Investors who want focused sector exposure and can tolerate volatility may find the structure relevant, but the fund is still building a performance record that can be judged over a full cycle.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 17 September 2026 at 4:38 PM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;background:#eef5ff;border:1px solid #cddff7;text-align:center\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"Axis Nifty India Defence Index Fund Direct Growth Plan\",\"identifier\":\"axis-nifty-india-defence-index-fund-g-direct-plan\",\"category\":\"Index Funds\",\"dateCreated\":\"29 Apr 2026\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":10.1233,\"valueReference\":\"as of 16 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"345 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.0\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Nandik Mallik, Rohit Gautam\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Axis Nifty India Defence Index Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its current NAV is \u20b910.1233 as of 16 Sep 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund\u2019s 1-year, 3-year and 5-year returns are 0%, 0% and 0%.\"}},{\"@type\":\"Question\",\"name\":\"How has the fund done against its benchmark recently?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It has lagged the benchmark over both the 1M and 3M periods. The gap was wider over 1M and narrower over 3M.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with peer funds on available return data?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its recent return numbers are weaker than the peer funds with visible one-year records, and its limited longer-window figures do not yet close that gap.\"}},{\"@type\":\"Question\",\"name\":\"What is the minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b9100.\"}},{\"@type\":\"Question\",\"name\":\"Who manages the fund and what is the exit load?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Nandik Mallik and Rohit Gautam. The exit load is 0.25% on or before 15D and nil after 15D, with no exit load after the holding period.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\",\"description\":\"SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Axis Nifty India Defence Index Fund Direct Growth Plan has a \u20b910.1233 NAV as of 16 Sep 2026, \u20b9345 Cr AUM and High Risk exposure. Recent returns trail the benchmark.<\/p>\n","protected":false},"author":38,"featured_media":253937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-253938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["253937"],"rank_math_title":["Axis Defence Fund NAV, Returns &amp; Review 2026"],"rank_math_description":["Axis Nifty India Defence Index Fund Direct Growth Plan NAV is \u20b910.1233 as of 16 Sep 2026; 1M return is -7.25%."],"rank_math_focus_keyword":["Axis Nifty India Defence Index Fund Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/Axis_Nifty_India_Defence_Index_Fund_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_bearish.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/253938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=253938"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/253938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/253937"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=253938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=253938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=253938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}