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

Axis BSE Sensex Index Fund Direct Growth Plan has a NAV of ₹10.8833 as of 28 August 2026 and scheme AUM of ₹54 Cr. Its 1-year, 3-year and 5-year returns are -2.45%, 0% and 0%, and it sits in the High Risk category. Our view is that this is a plain index fund with very limited track record so far, and the return pattern does not yet show a sustained edge over its benchmark.

The portfolio is almost fully large-cap, so the fund is built around the biggest listed businesses rather than broader market exposure. That makes it a straightforward way to track large-cap Indian equity, but the current return history suggests investors may want to treat it as a core, low-complexity index allocation rather than as a short-term performance play.

Quick facts

Attribute	Details
NAV	₹10.8833
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 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	-0.95%	-0.85%
3M	3.91%	3.39%
1Y	-2.45%	-2.29%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Near term, the fund has moved in line with a cautious equity market backdrop. The 1-month figure is slightly weaker than the benchmark, while the 3-month reading is a little better, which tells us the fund has not been drifting far away from the index direction.

The 1-year return is still negative, and it is marginally behind the benchmark over the same period. That gap is small, but it matters because an index fund is usually judged on how closely and efficiently it tracks the index rather than on active outperformance.

Since the fund launched in February 2024, there is not yet a full 3-year or 5-year history to evaluate. The shorter history that is available suggests a path of moderate up-and-down movement rather than a smooth compounding run, which is normal for an equity index fund but still relevant for investors expecting steady short-term results.

Compared with the benchmark, the fund looks broadly aligned but not meaningfully ahead on the only completed longer window we have. For investors, the key point is that this is not a differentiated return story; it is mainly a large-cap market tracker with modest deviations around the benchmark.

Source data date: as of 28 Aug 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	-2.45%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	35.235%	31.2535%	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	32.3519%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	32.0816%	Data not available	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	31.9037%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	31.8928%	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 far below the peer set shown here, while several peers have posted strongly positive 1-year outcomes. That contrast is important, but it is also a reminder that the peer list includes very different themes, so the comparison is best used to judge relative short-term return strength rather than to infer a like-for-like category verdict.

On the longer horizon, the current fund has no completed 3-year or 5-year history yet, while one peer has a strong 3-year figure and the others shown do not provide those longer-period numbers. So the available peer evidence points to a clearer near-term gap than a full long-term comparison. For an investor, the message is simple: this fund has not yet built a multi-year return record, and its recent result trail is much softer than the best short-term peer outcomes shown here.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution

Segment	Allocation
Large Cap	99.54%
Mid Cap	0%
Small Cap	0%
Other	0.46%

Top sectors and holdings

Sector	Allocation	Key holdings
BANK	38.98%	HDFC BANK LIMITED (12.97%), ICICI BANK LIMITED (9.51%)
IT	9.76%	INFOSYS LIMITED (4.67%), TATA CONSULTANCY SERVICES LIMITED (2.67%)
CRUDE OIL	9.5%	RELIANCE INDUSTRIES LIMITED (9.5%)
TELECOM	5.51%	BHARTI AIRTEL LIMITED (5.51%)
FMCG	5.19%	ITC LIMITED (3.17%), HINDUSTAN UNILEVER LIMITED (2.01%)

The portfolio is almost entirely large-cap, which means the fund is shaped by established companies rather than smaller, more volatile businesses. That structure usually supports closer index-like behaviour and keeps the fund’s style simple and transparent.

BANK is clearly the largest sector at 38.98%, and it is much larger than IT, CRUDE OIL, TELECOM and FMCG. The gap is wide enough that banking can be expected to matter more than any other sector when the portfolio moves, even though the fund is still diversified across several major industries.

Among the named holdings, HDFC Bank and ICICI Bank together already account for a meaningful share of the fund, while Reliance Industries also carries a sizable standalone weight. In our view, banking is likely to have the greatest influence on the fund’s behaviour, with IT and Reliance adding secondary sensitivity to large-cap market trends.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity exposure and who want a simple large-cap index format rather than a stock-selection strategy. The short history and the negative 1-year return mean it is better viewed over a longer horizon, where the effect of market cycles can even out.

The main trade-off is that you get broad large-cap market participation, but not a record of meaningful outperformance so far. The very high large-cap mix should appeal to investors looking for a concentrated blue-chip style of exposure, while the weak recent return path means patience matters more than short-term expectations.

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% on or before 7D
• Nil after 7D

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Axis BSE Sensex Index Fund Direct Growth Plan?

The current NAV is ₹10.8833 as of 28 August 2026.

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

The 1-year return is -2.45%, while the 3-year and 5-year returns are Data not available.

How does the fund compare with the benchmark?

The 1-year return is slightly behind the benchmark, and the 3-month return is slightly ahead. Overall, the fund has stayed close to benchmark behaviour rather than breaking away from it.

How does it compare with the peer funds shown here?

The fund’s 1-year return is far lower than the peer funds listed here. Several of those peers have strongly positive 1-year figures, while this fund is still negative over the same window.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

What are the risk level, portfolio mix and exit load?

The fund is classified as High Risk, and its portfolio is almost fully large-cap at 99.54%. The exit load is 0.25% on or before 7D and nil after 7D.

Bottom line

Axis BSE Sensex Index Fund Direct Growth Plan looks like a straightforward large-cap index tracker with a short live track record and a recent return pattern that is still soft versus its benchmark. The peer comparison also shows a wide short-term gap versus several of the listed funds, although those peers are not all pursuing the same theme. With 99.54% in large caps, the fund’s behaviour should stay closely tied to large-cap market moves, which suits patient investors more than short-term return chasers.

Published on 31 August 2026 at 5:18 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.