Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund Direct Growth Plan is an index fund with a NAV of ₹12.9596 as of 28 Aug 2026 and scheme AUM of ₹335 Cr. Its 1-year, 3-year and 5-year returns are 6.1705%, 7.5601% and 0%, and the risk category is Balanced Risk.

Our view is that the fund suits investors who want a defined-maturity style debt allocation with a government-securities-heavy portfolio and a relatively low expense ratio of 0.2%. The recent return pattern is steadier than the benchmark’s, but the long-term picture is still shaped by the fund’s short operating history and the June 2028 maturity theme.

Quick facts

Metric	Value
NAV	₹12.9596
AUM	₹335 Cr
Expense Ratio	0.2%
Launch Date	24 Jan 2023
Min SIP	₹1000
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Hardik Shah

The fund is managed by Hardik Shah.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.44%	-0.85%
3M	2.17%	3.39%
1Y	6.17%	-2.29%
3Y	7.56%	6.4%
5Y	Data not available	Data not available

Over the most recent month, the fund stayed slightly positive while the benchmark slipped, which points to a comparatively steadier short-term profile. That difference matters because fixed-income and index-linked debt strategies often move in narrower bands, and this fund has kept that pattern intact in the latest period.

The 3-month view is more mixed. The fund’s 2.17% return trails the benchmark’s 3.39%, so the short-term lead is not uniform across every recent window. For investors, that means the fund has not moved in a straight line, even though the one-month reading looks better than the benchmark.

The 1-year return of 6.17% is clearly positive while the benchmark is negative over the same period. That gap suggests the fund has handled the latest year better than the benchmark index, which is an important sign for a strategy built around government securities and state development loans.

The 3-year return of 7.56% is also ahead of the benchmark’s 6.4%, but the margin is modest. Our read is that the fund’s longer stretch has been constructive, though not dramatically different from the benchmark. The current pattern looks more stable than exciting, which is often the expected trade-off in a portfolio designed for debt-market exposure rather than equity-style upside.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Axis CRISIL IBX 50:50 Gilt Plus SDL June 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
Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund Direct Growth Plan	6.1705%	7.5601%	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 strongest peer figures listed here, which is unsurprising because those comparators are equity- and thematic-index funds with very different return profiles. In the 3-year column, the fund is much closer to the available peer data point from ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan, but it still trails that higher-risk equity exposure by a wide margin.

The comparison therefore tells two different stories. Against debt-oriented expectations, the fund’s own 1-year and 3-year numbers look reasonable and more stable than the benchmark’s. Against the peer set shown here, its return profile is much more subdued, which reflects the category mismatch more than a weakness in the fund’s own structure.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution

Bucket	Weight
Large cap	0%
Mid cap	0%
Small cap	0%
Other	100%

Sector	Weight	Holdings
GOVERNMENT SECURITIES	96.89%	7.06% GOVERNMENT OF INDIA (10/04/2028) — 34.44%; 8.05% TAMILNADU STATE DEVELOPMENT LOANS (18/04/2028) — 26.77%
CASH & CASH EQUIVALENTS AND NET ASSETS	3.11%	NET RECEIVABLES / (PAYABLES) — 2.1%; CLEARING CORPORATION OF INDIA LTD — 1.01%

The portfolio is fully placed in the “other” bucket, which is consistent with a debt-oriented index fund rather than an equity allocation. There is no large-, mid- or small-cap exposure in the usual sense, so the movement of the portfolio is likely to be driven by bond and liquidity dynamics rather than equity market cycles.

Government securities account for 96.89% of the portfolio, while cash and cash equivalents together with net assets make up 3.11%. That gap is material, so the government-securities sleeve is likely to have the greatest influence on how the fund behaves. Within that sleeve, the two named holdings carry meaningful individual weights, but the sector itself remains the dominant driver.

The smaller cash-related portion may help with day-to-day cash management and settlement needs, but it is not large enough to change the overall character of the fund. For investors, the key takeaway is that this is a concentrated debt allocation in terms of sector mix, even though it remains diversified across a small set of government-linked instruments.

Source data date: as of 28 Aug 2026

Who should invest

This fund fits investors who are comfortable with a Balanced Risk profile and want debt-market exposure with relatively limited sector breadth. The 1-year and 3-year returns are positive, and the fund has stayed ahead of the benchmark over those same periods, which supports a measured rather than aggressive investor profile.

The trade-off is that the portfolio is heavily concentrated in government securities, so it may not deliver the kind of upside some investors expect from equity funds or more thematic debt strategies. It is more suitable for a medium-term horizon where the June 2028 maturity theme and the debt allocation style can work together, rather than for someone seeking fast growth.

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 28 Aug 2026

Frequently asked questions

What is the current NAV of Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund Direct Growth Plan?

The current NAV is ₹12.9596 as of 28 Aug 2026.

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

The fund’s 1-year return is 6.1705%, the 3-year return is 7.5601%, and the 5-year return is Data not available.

How has the fund performed against its benchmark?

It has outperformed the benchmark over 1 year and 3 years, while the 3-month view is weaker than the benchmark. The benchmark’s 1-year return is negative, which makes the fund’s latest year look comparatively stronger.

What is the minimum SIP amount?

The minimum SIP amount is ₹1000.

What is the risk category and what does the portfolio look like?

The risk category is Balanced Risk. The portfolio is almost entirely in government securities, with 96.89% in that sleeve and 3.11% in cash and cash equivalents and net assets.

Is there any exit load and who manages the fund?

There is no exit load. The fund is managed by Hardik Shah.

Bottom line

This fund has a steadier recent profile than its benchmark, and its 1-year and 3-year returns are both positive, but the 3-month period shows that the short-term path is not perfectly smooth. Compared with the peer return figures shown here, the fund’s numbers are much more modest, which reflects its debt-oriented structure rather than a weakness in the strategy. The main portfolio characteristic is the very high government-securities weight, which makes the fund’s behaviour more debt-driven than equity-driven and keeps the risk profile in the Balanced Risk bucket.

Published on 31 August 2026 at 5:29 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.