Axis CRISIL IBX 50:50 Gilt Plus SDL Sep 2027 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis CRISIL IBX 50:50 Gilt Plus SDL Sep 2027 Index Fund Direct Growth Plan has a NAV of ₹12.9671 as of 17 Sep 2026 and a scheme AUM of ₹36 Cr. Its 1-year, 3-year and 5-year returns are 5.81%, 7.38% and 0% respectively, and the risk category is Balanced Risk.

Our view is that this is a target-maturity style gilt-plus-SDL index fund with a narrow holding set and a relatively low expense ratio of 0.15%. The return pattern is steady rather than sharp, and the portfolio is built around government securities due around the Sep 2027 maturity window. That makes it more suitable for investors who are comfortable with interest-rate sensitivity and want a dated debt allocation rather than an equity-like growth profile.

Quick facts

Particular	Details
NAV	₹12.9671 as of 17 Sep 2026
AUM	₹36 Cr
Expense Ratio	0.15%
Launch Date	27 Feb 2023
Min SIP	₹1,000
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Aditya Pagaria, Sachin Jain

The fund is managed by Aditya Pagaria and Sachin Jain.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.30%	-3.66%
3M	1.36%	-3.71%
1Y	5.81%	-7.13%
3Y	7.38%	5.82%
5Y	Data not available	Data not available

The latest month and quarter were constructive for the fund, while the benchmark stayed negative over the same periods. That tells us the fund has been comparatively resilient in the recent debt-market backdrop, even though the broader benchmark line was weak. Over 1 year, the fund’s 5.81% return contrasts with the benchmark’s -7.13%, which is a wide gap in favour of the fund.

The longer view is a little more balanced. The 3-year return of 7.38% is ahead of the benchmark’s 5.82%, but the margin is much smaller than in the 1-year comparison. That suggests the recent advantage is not only a function of one short period; still, the pace of gains has been moderate rather than explosive. For a gilt-plus-SDL strategy, that is usually more important than chasing sharp month-to-month moves.

The return path also looks more stable than the benchmark’s path. The fund did not show the same depth of weakness that the benchmark showed over 1 year, and the shorter-period recovery supports the view that this portfolio has been able to hold up better through a difficult stretch for the benchmark. Even so, the 5-year field is not available in a usable form here, so our reading should stay anchored to the 1-year and 3-year evidence.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Axis CRISIL IBX 50:50 Gilt Plus SDL Sep 2027 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.

Already holding Axis CRISIL IBX 50:50 Gilt Plus SDL Sep 2027 Index? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
Axis CRISIL IBX 50:50 Gilt Plus SDL Sep 2027 Index Fund Direct Growth Plan	5.81%	7.38%	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.

Against the listed peers, the fund’s 1-year return is much lower than the equity-oriented comparables shown here, but that gap is not surprising because the strategy and risk profile are very different. What matters more is that the fund has stayed ahead of the benchmark in both the 1-year and 3-year windows, while peers with available 3-year numbers are generally on a different return profile altogether. So the comparison points to relative steadiness rather than standout upside.

The 3-year read also matters because it is closer to the fund’s intended holding style. On that basis, the fund looks more measured than peers that have produced much higher recent returns, but it also avoids the sharper swings that come with those higher-return categories. For investors comparing debt-style stability with equity-style growth, the short-term and longer-term stories clearly diverge here.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.38% Government of India (20/06/2027)	Government Securities	47.51%
7.33% Maharashtra State Development Loans (13/09/2027)	Government Securities	27.92%
7.23% Tamilnadu State Development Loans (14/06/2027)	Government Securities	6.97%
7.24% Tamil Nadu State Development Loans (28/06/2027)	Government Securities	2.79%
7.27% Tamilnadu State Development Loans (12/07/2027)	Government Securities	2.79%
7.45% Rajasthan State Development Loans (27/09/2027)	Government Securities	2.79%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	2.51%
6.38% Maharashtra State Development Loans (25/08/2027)	Government Securities	2.39%
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	1.54%
7.18% Tamilnadu State Development Loans (26/07/2027)	Government Securities	1.39%

The top 10 holdings account for approximately 98.6% of the portfolio.

To see all holdings, visit the Axis CRISIL IBX 50:50 Gilt Plus SDL Sep 2027 Index Fund Direct Growth Plan page

The largest holding alone is 47.51%, so it is likely to have the greatest influence on how the portfolio behaves. The second position at 27.92% is also substantial, which means the fund is heavily shaped by a small set of government securities rather than a broad spread across many securities. From the first to the tenth holding, the weights taper to 1.39%, so the distribution does become thinner after the core positions.

That pattern suggests concentration in a few dated securities, with a long tail that matters more for completion than for overall direction. Since the disclosed top 10 already account for 98.6% of the portfolio and only 11 holdings are disclosed in total, the fund appears fairly tightly packed. In our view, this structure may suit investors who want clear exposure to the yield and price behaviour of a narrow set of sovereign and state-backed papers.

Source data date: as of 17 Sep 2026

Who should invest

This fund may suit investors who can tolerate interest-rate and price movements in a debt-oriented portfolio and who prefer a dated maturity theme over open-ended credit chasing. The Balanced Risk label and the government-security heavy mix point to a relatively measured profile, but the returns also show that outcomes can still move meaningfully from one period to another.

Our view is that it fits better for a medium-horizon investor who wants stability first, with the possibility of modest upside if the portfolio’s bond mix behaves well. The trade-off is clear: you accept lower upside than equity-style peers, but in return you get a structure that has held up better than the benchmark in the recent windows.

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 17 Sep 2026

Frequently asked questions

What is the current NAV of Axis CRISIL IBX 50:50 Gilt Plus SDL Sep 2027 Index Fund Direct Growth Plan?
The current NAV is ₹12.9671 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 5.81%, the 3-year return is 7.38%, and the 5-year return is Data not available.

How has the fund performed against its benchmark?
It has outperformed the benchmark in the 1-year and 3-year windows shown here. The benchmark return is -7.13% for 1 year and 5.82% for 3 years.

How does it compare with the peer funds listed here?
Its recent return is well below the equity-oriented peer names listed here, but those peers are in different return profiles. Against the benchmark, the fund has been steadier in the periods shown.

Is there a minimum SIP requirement?
Yes. The minimum SIP amount is ₹1,000.

Who manages the fund and what is the exit load?
The fund is managed by Aditya Pagaria and Sachin Jain. There is no exit load.

Bottom line

This fund’s recent return pattern is steadier than its benchmark, and the 3-year figure supports that view even though the 5-year field is not available. Compared with the listed peers, its return profile is much more conservative, which is consistent with a gilt-plus-SDL structure rather than an equity-style strategy. The portfolio is also tightly concentrated in a few government securities, so the fund’s behaviour will likely be shaped by those positions. For investors who want a debt-oriented, dated-maturity approach and can live with interest-rate sensitivity, it offers a focused structure rather than broad diversification.

Published on 18 September 2026 at 11:52 AM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.