Axis CRISIL-IBX AAA Bond NBFC - Jun 2027 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis CRISIL-IBX AAA Bond NBFC – Jun 2027 Index Fund Direct Growth Plan has a NAV of ₹11.5763 as of 10 Sep 2026 and an AUM of ₹2,295 Cr. Its 1-year, 3-year and 5-year returns are 6.57%, 0% and 0% respectively, and the scheme sits in the Balanced Risk category.

Our view is that this is best understood as a short-horizon bond index fund with a defined credit and maturity profile rather than a broad market call. The return pattern has been steady but modest, which may suit investors looking for measured debt exposure and a portfolio built around AAA-rated NBFC paper rather than equity-like upside.

Quick facts

Particular	Details
NAV	₹11.5763 as of 10 Sep 2026
AUM	₹2,295 Cr
Expense Ratio	0.17%
Launch Date	24 Sep 2024
Min SIP	₹1,000
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	NIL
Fund Managers	Aditya Pagaria

The fund is managed by Aditya Pagaria.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.55%	-4.06%
3M	2%	1.37%
1Y	6.57%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent return pattern is constructive, especially over 1 month and 3 months, where the fund stayed positive while the benchmark remained negative on 1 month and 1 year and only mildly positive on 3 months. That tells us the portfolio has held up better than the benchmark in the shorter windows, even if the absolute gains remain limited.

Over 1 year, the fund’s 6.57% return is materially better than the benchmark’s -7.31%. That gap matters because it shows the scheme has not merely preserved capital through a difficult period; it has also produced positive compounding while the benchmark struggled. The 3-month result is more modest, which suggests the pace of gains has been uneven rather than linear.

The underlying pattern looks like a steady debt-style compounding profile with some short-term fluctuations rather than sharp drawdowns and rebounds. For investors, that means the fund may be more useful as a measured credit-oriented allocation than as a return-chasing product. Our view is that the key test is whether an investor values stability and defined portfolio exposure more than fast capital growth.

Because the available longer-horizon figures are not yet populated, we would avoid extending the 1-year trend too far into the future. Even so, the contrast with the benchmark is clear: recent behaviour has been stronger than the benchmark, while the path of gains remains modest and controlled.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Axis CRISIL-IBX AAA Bond NBFC – Jun 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Axis CRISIL-IBX AAA Bond NBFC – Jun 2027 Index Fund Direct Growth Plan	6.57%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	33.08%	30.07%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.95%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.94%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	24.33%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	23.74%	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 equity-oriented peer funds listed here, which is expected because its mandate is different. The more useful comparison is that the scheme has still delivered a positive 1-year return while several of the peer funds show much stronger growth through equity exposure.

On the longer side, there is no 3-year or 5-year figure to compare yet, so the peer story is mostly about shorter-term behaviour. That leaves us with a clear but limited conclusion: this fund is not built to match the return profile of the listed peers, and the recent result should be read in the context of a debt-oriented, AAA-focused portfolio rather than as a shortfall versus a like-for-like equity strategy.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.65% Poonawalla Fincorp Limited (21/04/2027) **	Corporate Debt	11.51%
8.12% Kotak Mahindra Prime Limited (21/06/2027) **	Corporate Debt	11.08%
8.285% Tata Capital Limited (10/05/2027) **	Corporate Debt	9.44%
8.3324% HDB Financial Services Limited (10/05/2027) **	Corporate Debt	8.15%
7.2337% Bajaj Finance Limited (28/06/2027) **	Corporate Debt	7.03%
7.2092% L&T Finance Limited (29/06/2027) **	Corporate Debt	6.07%
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	5.53%
8.25% Mahindra & Mahindra Financial Services Limited (25/03/2027) **	Corporate Debt	5.18%
8.2378% HDB Financial Services Limited (06/04/2027)	Corporate Debt	3.71%
8% Mahindra & Mahindra Financial Services Limited (27/04/2027) **	Corporate Debt	3.71%

The top 10 holdings account for approximately 71.41% of the portfolio.

To see all holdings, visit the Axis CRISIL-IBX AAA Bond NBFC – Jun 2027 Index Fund Direct Growth Plan page

The largest position is 11.51%, which is meaningful but not extreme for a debt index fund that concentrates on a defined set of AAA NBFC instruments. The next few holdings remain close in size, so the portfolio does not rely on a single outsized bet.

Weight then steps down from 11.51% to 3.71% by the tenth holding, which suggests a moderate tilt toward the first few issuers while still keeping several meaningful positions in play. That pattern may help spread issuer-specific exposure across a small set of large weights rather than leaving the portfolio dependent on one line item.

With 24 disclosed holdings and 71.41% in the top 10, the fund appears moderately concentrated at the top but not narrowly so. The tail beyond the visible holdings may still matter, yet the disclosed structure already shows that a handful of corporate debt positions could have greater influence on returns and valuation changes than the smaller names.

Source data date: as of 10 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a Balanced Risk profile and want a debt-focused allocation with a defined issuer universe. The return pattern suggests it has been steadier than the benchmark in recent periods, but the gains are still modest rather than high-octane.

It is better aligned with a medium-term horizon than a very short holding period, especially because the underlying portfolio is built around bonds maturing around 2027. The trade-off is straightforward: investors may accept lower upside in exchange for a more controlled exposure to AAA NBFC debt and a simpler return path than equity funds.

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: NIL. No exit load after holding period.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Axis CRISIL-IBX AAA Bond NBFC – Jun 2027 Index Fund Direct Growth Plan?

The current NAV is ₹11.5763 as of 10 Sep 2026.

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

The 1-year return is 6.57%, while the 3-year and 5-year returns are Data not available.

How has this fund performed versus its benchmark?

It has done better than the benchmark in the periods shown. The 1-year return is 6.57% versus -7.31% for the benchmark, and the 1-month and 3-month returns are also better in the periods reported.

How does it compare with the listed peer funds?

Its 1-year return is much lower than the equity-oriented peer funds listed here, but that gap reflects a different investment style. The fund is built around AAA NBFC debt, so it is not meant to mirror the return profile of those peers.

What is the minimum SIP amount?

The minimum SIP amount is ₹1,000.

What is the risk profile, and who manages the fund?

The scheme is in the Balanced Risk category, and the fund manager is Aditya Pagaria. The portfolio is led by corporate debt holdings, which may suit investors looking for a measured debt allocation.

Bottom line

This fund has shown better recent behaviour than its benchmark, but the return path is still modest and not comparable with the equity-heavy peers listed here. The scheme’s Balanced Risk profile, AAA NBFC focus and fairly concentrated top holdings make it more suited to investors who want a defined debt allocation with a controlled risk posture rather than strong upside. In our view, it fits better as part of a medium-term portfolio than as a return-chasing satellite holding.

Published on 11 September 2026 at 6:14 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.