Aditya Birla SL CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Our view is that the Aditya Birla SL CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund Direct Growth Plan is a defined-horizon debt index fund with a NAV of ₹13.3751 as of 16 Sep 2026 and scheme AUM of ₹405 Cr. Its 1-year, 3-year and 5-year returns are 5.56%, 7.41% and 0%, respectively, and the risk category is Balanced Risk.

We think it suits investors looking for a sovereign-heavy allocation with moderate rate sensitivity rather than aggressive return chasing. The portfolio is concentrated in government securities and state government securities, so the fund’s behaviour will likely track interest-rate moves and bond-price shifts more than equity-market cycles.

Quick facts

Particular	Details
NAV	₹13.3751 as of 16 Sep 2026
AUM	₹405 Cr
Expense Ratio	0.2%
Launch Date	13 Oct 2022
Min SIP	₹500
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Mohit Sharma, Sanjay Godambe

The fund is managed by Mohit Sharma and Sanjay Godambe.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.17%	-4.41%
3M	1.27%	-3.6%
1Y	5.56%	-7.76%
3Y	7.41%	5.74%
5Y	Data not available	Data not available

The recent pattern is steadier than the benchmark’s short-term swings. Over 1M and 3M, the fund stayed positive while the benchmark was negative, which suggests the portfolio held up better in the latest phase of rate and price movement.

The 1-year figure also shows the fund ahead of the benchmark, which is a useful sign for investors who care about relative resilience. At the same time, the 3-year return is positive but not especially high, so this is still a conservative compounding story rather than a high-growth one.

Looking at the longer path, the fund’s performance has improved more gradually than aggressively. The 3-year trend is better than the shorter snapshots, which tells us the underlying bond mix has been able to deliver a more stable outcome over time, but without large jumps in return.

Because the benchmark itself has been weak over the recent one-year window, the comparison is more about stability than outperformance across every horizon. Our read is that this fund has behaved more defensively in the recent period, while the longer-term outcome remains moderate and steady.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Aditya Birla SL CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Aditya Birla SL CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund Direct Growth Plan	5.56%	7.41%	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 1-year return trails the faster-growing peer funds in the table by a wide margin, while its own 3-year return is more modest than the stronger multi-year figures shown by the equity-oriented peers. That is not a flaw in itself; it simply reflects a very different return profile.

Compared with peers that have 3-year data, the fund’s 7.41% is lower than the more growth-heavy entries but still positive and consistent with a debt-oriented strategy. The short-term comparison and the longer-term comparison tell different stories: the latest return profile is steady, while the peer set includes funds with much sharper upside but also a different risk profile.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Government of India (10/04/2028)	Government Securities	26.62%
State Government Securities (14/03/2028)	Government Securities	18.95%
Government of India (21/09/2027)	Government Securities	11.37%
State Government Securities (18/04/2028)	Government Securities	6.91%
Government of India (20/06/2027)	Government Securities	6.24%
State Government Securities (25/04/2028)	Government Securities	5.68%
State Government Securities (27/03/2028)	Government Securities	5.13%
State Government Securities (22/04/2028)	Government Securities	4.87%
0% GOI – (12/03/2028) Strips	Government Securities	3.51%
Net Receivable / Payable	Cash & Cash Equivalents and Net Assets	2.65%

The largest holding alone accounts for 26.62%, which is meaningful for a debt index fund and may have a visible influence on performance. The next few positions are also sizable, so the fund does not spread weight evenly across many small bets.

There is a noticeable step-down from the largest line to the tenth, where the displayed weights range from 26.62% to 2.65%. That pattern suggests the portfolio is anchored by a few large government-securities positions, with the rest adding supporting exposure rather than dominating returns.

Since the displayed holdings add up to 91.93% across 10 disclosed positions, the portfolio appears fairly concentrated at the top even though it still includes 16 disclosed holdings overall. That mix could make the fund more responsive to movements in a limited set of sovereign and state borrowing lines.

To see all holdings, visit the Aditya Birla SL CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 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 can hold through ordinary interest-rate swings. The 1-year and 3-year numbers suggest a steadier return profile than the benchmark over the recent period, but the fund is not built to deliver equity-like upside.

A medium- to longer-term horizon is more sensible here, because the portfolio is concentrated in government securities that tend to work best when held with patience. The main trade-off is accepting moderate return potential in exchange for a more controlled bond-oriented profile and no exit load.

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 Aditya Birla SL CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund Direct Growth Plan?
The current NAV is ₹13.3751 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.56%, its 3-year return is 7.41%, and its 5-year return is 0%.

How does the fund compare with the benchmark?
It has done better than the benchmark in the recent 1-month, 3-month and 1-year periods, while the 3-year return is also ahead of the benchmark figure shown here.

How does it compare with the peer funds listed here?
Its recent return profile is much more conservative than the higher-return equity-oriented peers listed here. On the available multi-year figures, it remains a steadier debt-style option rather than a high-growth one.

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 Mohit Sharma and Sanjay Godambe. There is no exit load.

Bottom line

This fund’s recent return pattern is steadier than its benchmark and more modest than the more aggressive peer funds shown here, while the 3-year outcome remains positive rather than dramatic. The risk category is Balanced Risk, and the portfolio is heavily tilted toward government securities, which makes the structure easier to understand but also more rate-sensitive. For investors looking for a debt-oriented holding with a defined horizon and no exit load, the fund offers a measured profile rather than a return-chasing one.

Published on 17 September 2026 at 5:09 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.