Aditya Birla SL US Equity Passive FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL US Equity Passive FOF Direct Growth Plan had a NAV of ₹22.7318 as of 02 Sep 2026 and an AUM of ₹499 Cr. Its 1-year, 3-year and 5-year returns are 36.06%, 29.1% and 0% respectively, and the scheme sits in the High Risk category. Our view is that this fund has delivered strong medium-term gains, but the 5-year figure is not yet meaningful because the scheme was launched in November 2021, so the return record is still relatively short.

The portfolio is almost fully invested in one overseas fund holding, so performance can move sharply when that underlying position fluctuates. That makes it better suited to investors who can tolerate large swings and want overseas equity exposure rather than a steady, low-volatility allocation.

Quick facts

Particular	Details
NAV	₹22.7318 as of 02 Sep 2026
AUM	₹499 Cr
Expense Ratio	0.26%
Launch Date	01 Nov 2021
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	No exit load
Fund Managers	Mehul Dama, Priya Sridhar

The fund is managed by Mehul Dama and Priya Sridhar.

Source data date: as of 02 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	1.37%	-3.47%
3M	-5.4%	2.17%
1Y	36.06%	-3.84%
3Y	29.1%	5.8%
5Y	Data not available	Data not available

The fund’s short-term pattern has been uneven. Over 1 month, it finished ahead of the benchmark, but the 3-month stretch was weaker and showed a clear pullback. That tells us the recent path has not been one-way, even though the latest 1-year figure remains strong.

Over 1 year, the fund has stayed well ahead of the benchmark, while the benchmark itself is negative over the same period. That gap matters because it shows the fund’s overseas exposure has not simply followed domestic market behaviour; it has added a different return pattern instead.

The 3-year number also remains solid, but it is far above the benchmark’s longer-term figure. At the same time, the 3-month softness reminds us that the fund can still give back part of its gains in shorter windows. The visible pattern is one of strong medium-term compounding with intermittent volatility rather than a smooth climb.

Because the scheme was launched in late 2021, the 5-year line is not yet a useful decision anchor. For investors, the more relevant read is that the fund has compounded well over the periods that are actually available, but the path has been bumpy enough that patience matters.

Source data date: as of 02 Sep 2026

Should you BUY or HOLD Aditya Birla SL US Equity Passive FOF?

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 US Equity Passive FOF Direct Growth Plan	36.06%	29.1%	Data not available
Edelweiss Emerging Markets Opp Eq. Offshore Fund Direct Growth Plan	56.05%	28.06%	11.38%
HSBC Global Emerging Markets Fund Direct Growth Plan	52.8%	28.05%	11.98%
Kotak Global Emerging Market Overseas Equity Active FOF Direct Growth Plan	45.03%	25.39%	11.96%
HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan	38.14%	26.79%	14.9%
DSP US Specific Equity Omni FoF Direct Growth Plan	38.13%	26.75%	18.84%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On 1-year numbers, this fund trails the strongest peer figures in the table, although it is still ahead of its benchmark. The 3-year number is comfortably above every peer shown here, which suggests the fund has held its own over a longer holding period even after the recent uneven patch.

The 5-year column is not yet available for this scheme, so the longer-horizon comparison is incomplete on the fund’s side. That means the short-term comparison and the medium-term comparison tell different stories: the fund looks less competitive on the latest 1-year figure than some peers, but it compares much better on the 3-year measure.

Source data date: as of 02 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Ishares Nasdaq 100 Ucits ETF	Overseas Mutual Fund Units	99.27%
TREPS	Cash & Cash Equivalents and Net Assets	0.82%

The largest holding is Ishares Nasdaq 100 Ucits ETF at 99.27%, which is an extremely dominant position. In absolute terms, that means nearly the entire portfolio may be driven by a single overseas market exposure, with only a very small cash buffer beside it.

The weight drops sharply from the first holding to TREPS, which sits at 0.82%. With only two disclosed holdings in total, there is no long tail here; the fund appears highly concentrated rather than spread across a broad basket of positions.

That concentration could make the fund’s returns more sensitive to movements in the underlying ETF. The displayed holdings account for 100% of the portfolio, so the fund’s behaviour is likely to be shaped mainly by that one overseas allocation and the cash-like balance around it.

Source data date: as of 02 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk exposure and are comfortable with overseas equity swings. The available return pattern shows strong 1-year and 3-year performance, but the shorter 3-month stretch was weaker, so the journey can be volatile.

A longer horizon makes more sense here because the fund’s medium-term record is more informative than its latest short patch. Investors who want a smoother domestic-market style return path may find the benchmark comparison and the concentrated portfolio structure less appealing.

The main trade-off is clear: you are accepting concentration and volatility in exchange for a focused overseas equity exposure that has compounded well over the available medium-term periods.

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 if units are sold anytime.

Source data date: as of 02 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL US Equity Passive FOF Direct Growth Plan?

The current NAV is ₹22.7318 as of 02 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s 1-year return is 36.06% and its 3-year return is 29.1%. The 5-year return is Data not available because the fund does not yet have a full 5-year track record.

How has the fund performed versus its benchmark?

It has done better than Nifty 50 over the available 1-month, 1-year and 3-year periods, but it was weaker over 3 months. The benchmark’s 1-year figure is -3.84% while the fund’s is 36.06%.

How does it compare with the peer funds listed here?

Its 1-year return is below the strongest peer figures shown, but its 3-year return is ahead of the peer returns listed here. The comparison looks mixed because the short-term and medium-term periods point in different directions.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Mehul Dama and Priya Sridhar. The exit load is nil, so units can be sold anytime without an exit-load charge.

Bottom line

This fund has a stronger medium-term record than its latest short-term patch, which points to a volatile but capable overseas equity strategy. It compares well on 3-year performance against the peer set shown here, even though its 1-year figure trails the strongest peers. The portfolio is heavily concentrated in a single overseas ETF, so the fund’s outcome is likely to depend on that one underlying exposure more than on diversification. It suits investors who can handle High Risk and want a focused international equity allocation with a meaningful return history.

Published on 3 September 2026 at 6:20 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.