Axis BSE Sensex Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis BSE Sensex Index Fund Direct Growth Plan is an index fund with a current NAV of ₹10.4693 as of 17 September 2026 and scheme AUM of ₹54 Cr. Its 1-year, 3-year and 5-year returns are -8.76%, 0% and 0%, respectively, and it sits in the High Risk category.

Our view is that this fund fits investors who want simple large-cap market exposure and can tolerate near-term volatility. The portfolio is concentrated in financials and other large businesses, while recent returns have stayed below the benchmark’s 1-year reading, so the case for this fund is more about broad market tracking than about standout short-term results.

Quick facts

Particular	Details
NAV	₹10.4693 as of 17 Sep 2026
AUM	₹54 Cr
Expense Ratio	0.1%
Launch Date	27 Feb 2024
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.25% on or before 7D, Nil after 7D
Fund Managers	Nandik Mallik, Rohit Gautam

The fund is managed by Nandik Mallik and Rohit Gautam.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.77%	-3.66%
3M	-3.48%	-3.71%
1Y	-8.76%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term pattern has been uneven. The fund was slightly weaker than the benchmark over 1 month, but it held up a little better over 3 months. That tells us the tracking gap has not been large in the very recent period, even though both the fund and the benchmark have been negative.

The 1-year picture is less supportive for the fund. It lagged the benchmark by a wider margin, which suggests the recovery phase has not fully matched the broader index’s rebound. For an index fund, that matters because investors usually expect close movement with the benchmark, even if small differences can appear from expenses and tracking effects.

The longer pattern also looks choppy rather than smooth. The one-year path shows an extended decline followed by partial recovery, and the 3-month path still reflects swings around the starting point. Our read is that this is a fund where the journey has mattered more than the end result so far.

Since the fund has a limited operating history and the longer trailing figures are not available, we would place more weight on the benchmark relationship and the recent trajectory. On that basis, the fund behaves like a plain equity index product with a moderate tracking gap in the last year rather than a consistently close replica in every period.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Axis BSE Sensex 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
Axis BSE Sensex Index Fund Direct Growth Plan	-8.76%	Data not available	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 recent return profile is clearly weaker than the peers listed here, especially on 1-year numbers where every comparable fund is ahead. The longer figures also do not yet help this fund’s case because they are unavailable for the current scheme, while some peers do show 3-year readings. That leaves the comparison tilted toward peer funds with stronger momentum on the available horizons.

At the same time, the short-term gap and the longer-term gap do not tell the same story across all peers. Some peers have both strong 1-year and 3-year figures, while others only have a strong 1-year reading. For this fund, the available picture is simpler: the recent record has lagged the listed peers, and there is not yet a longer trailing record here to offset that weakness.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Limited	Bank	11.83%
ICICI Bank Limited	Bank	11.38%
Reliance Industries Limited	Crude Oil	9.52%
Bharti Airtel Limited	Telecom	6.1%
Larsen & Toubro Limited	Infrastructure	5.16%
State Bank of India	Bank	4.82%
Infosys Limited	IT	4.3%
Axis Bank Limited	Bank	4.02%
Kotak Mahindra Bank Limited	Bank	3.37%
Mahindra & Mahindra Limited	Automobile & Ancillaries	3.26%

The top 10 holdings account for approximately 63.76% of the portfolio.

To see all holdings, visit the Axis BSE Sensex Index Fund Direct Growth Plan page

The largest holding, HDFC Bank Limited, carries an 11.83% weight, which is sizeable for a single stock in an index fund. The next few holdings also stay heavy, so the allocation does not fall away sharply at the top and instead keeps meaningful weight in a small set of large names.

By the time we reach the tenth holding, the weight has eased to 3.26%, which is still material but far below the leading positions. That pattern suggests the fund may be influenced more by a handful of major constituents than by the tail of smaller lines.

Because the top 10 holdings together make up 63.76% of the portfolio, the disclosed part of the portfolio is fairly concentrated. At the same time, 30 holdings are disclosed in total, so the fund is not a one- or two-stock product; it may still deliver broad large-cap exposure, but the largest names are likely to have greater influence on day-to-day movement.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity swings and who want a simple large-cap index exposure rather than an actively managed strategy. The return pattern shows that short-term performance can be weak even when the benchmark is moving in the same general direction, so patience matters.

A longer investment horizon is more sensible here because the fund has not yet built a long trailing record and the recent journey has been uneven. The key trade-off is that the low expense ratio and straightforward index structure come with limited scope to cushion weaker periods relative to the benchmark or stronger peers.

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: 0.25% if units are sold on or before 7 days; nil after 7 days.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Axis BSE Sensex Index Fund Direct Growth Plan?
The current NAV is ₹10.4693 as of 17 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -8.76%, while the 3-year and 5-year returns are 0% in the available record.

How has the fund performed against its benchmark?
Over 1 year, the fund returned -8.76% versus -7.13% for the benchmark. Over 1 month and 3 months, the gap was smaller, with the fund slightly behind at 1 month and slightly ahead at 3 months.

How does it compare with the listed peer funds on recent returns?
The fund trails the listed peers on 1-year return, with several peers showing much stronger gains. Some peers also have usable 3-year figures, while this fund does not yet have a 3-year reading in the comparison set.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is its exit load?
The fund is managed by Nandik Mallik and Rohit Gautam. The exit load is 0.25% if units are sold on or before 7 days, and nil after 7 days.

Bottom line

Axis BSE Sensex Index Fund Direct Growth Plan has a recent return record that is weaker than its benchmark and weaker than the listed peer set, while its longer trailing figures are not yet available. That makes the current case less about performance leadership and more about plain large-cap index exposure with a low expense ratio. The portfolio is led by a few heavy weights, so the fund’s day-to-day movement may be shaped by a concentrated set of large names. It fits investors who can stay patient through uneven periods.

Published on 18 September 2026 at 12:55 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.