Axis Equity Savings Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis Equity Savings Fund Direct Growth Plan has a NAV of ₹26.62 as of 10 Sep 2026 and an AUM of ₹885 Cr. Its 1-year, 3-year and 5-year returns are 5.51%, 9.55% and 7.89%, respectively, and it sits in the Medium Risk category. Our view is that it looks suited to investors who want a hybrid allocation with a measured risk profile rather than a pure equity swing.

The fund’s medium-risk profile, steady longer-term record and meaningful non-equity exposure make it more balanced than an outright equity fund. Recent performance has been softer than its 3-year track, so the current appeal is more about consistency and portfolio mix than strong near-term momentum.

Quick facts

Particular	Details
NAV	₹26.62 as of 10 Sep 2026
AUM	₹885 Cr
Expense Ratio	1.09%
Launch Date	14 Aug 2015
Min SIP	₹100
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 10% of investments and 1% for remaining investments on or before 1M, Nil after 1M
Fund Managers	Mayank Hyanki, Devang Shah, Hardik Shah, Krishnaa N

The fund is managed by Mayank Hyanki, Devang Shah, Hardik Shah and Krishnaa N.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.63%	-4.06%
3M	3.86%	1.37%
1Y	5.51%	-7.31%
3Y	9.55%	6.07%
5Y	7.89%	5.91%

The recent picture is mixed, but not weak in absolute terms. Over 1 month the fund was slightly negative, yet it still held up better than the benchmark, which fell more sharply. That tells us the portfolio has offered some downside cushioning even when returns have not been consistently positive.

Over 3 months, the fund improved more than the benchmark and stayed clearly ahead on that window. The 1-year figure is also constructive because the fund produced a positive return while the benchmark was negative. That gap matters: it suggests the fund’s hybrid structure has helped it behave differently from a plain equity index during a difficult year for the benchmark.

The longer record is steadier than the recent short-term patch. The 3-year return of 9.55% is stronger than the 5-year return of 7.89%, so the fund’s medium-term pace has been better than its longer compounding pace. Even so, both periods remain ahead of the benchmark, which reinforces the idea that the fund has generally added value through its mix rather than through aggressive market chasing.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Axis Equity Savings?

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 Equity Savings Fund Direct Growth Plan	5.51%	9.55%	7.89%
Edelweiss Equity Savings Fund Direct Growth Plan	8.49%	11.44%	9.76%
HSBC Equity Savings Fund Direct Growth Plan	8.33%	12.82%	11.09%
WOC Equity Savings Fund Direct Growth Plan	7.61%	Data not available	Data not available
Mahindra Manulife Equity Savings Fund Direct Growth Plan	7.05%	9.37%	8.93%
Capitalmind Flexi Cap Fund Direct Growth Plan	6.1%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The current fund trails the stronger peer 1-year figures on this sample, with several peers showing higher recent returns. That said, the 3-year and 5-year record still compares respectably against peers with available longer-term data, especially because the fund has stayed ahead of the benchmark across those horizons. The short-term comparison is less compelling than the longer-term one, so the story here is one of moderate recent performance but workable longer-run resilience.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	32.48%
ICICI Bank Limited	Bank	7.3%
Reliance Industries Limited	Crude Oil	6.65%
HDFC Bank Limited	Bank	5.05%
7.18% Government of India (14/08/2033)	Government Securities	4.61%
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	3.39%
Kotak Mahindra Bank Limited	Bank	3.1%
Axis Money Market Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	2.96%
Tata Steel Limited	Iron & Steel	2.89%
7.1% Government of India (08/04/2034)	Government Securities	2.86%

The largest disclosed holding is Net Receivables / (Payables) at 32.48%, which is substantial and suggests that cash-like positioning is a major part of how the portfolio is expressed. The next few holdings are much smaller, with the first ten positions stepping down from 32.48% to 2.86%, so influence is not evenly spread across the displayed list.

The top 10 holdings together account for approximately 71.29% of the portfolio, while the scheme discloses 52 holdings in total. That combination points to a meaningful core of large positions alongside a longer tail of smaller allocations. In our view, the structure may make the fund’s overall behaviour more sensitive to a small set of large exposures while still leaving room for diversification beyond the headline names.

To see all holdings, visit the Axis Equity Savings Fund Direct Growth Plan page

Source data date: as of 10 Sep 2026

Who should invest

This fund may suit investors who are comfortable with medium risk and want a hybrid allocation rather than a pure equity bet. The positive 1-year, 3-year and 5-year returns show that it has been able to compound over time, while the benchmark comparison shows it has generally held up better than the Nifty 50 in the periods shown.

The main trade-off is that recent returns have not been uniformly strong, even though longer-term results are steadier. That makes the fund more appropriate for investors with a multi-year horizon who can accept some short-term unevenness in exchange for a portfolio that mixes equity and debt-like exposures.

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 up to 10% of investments and 1% for the remaining investments if units are sold within 1 month; no exit load after the holding period.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Axis Equity Savings Fund Direct Growth Plan?

The current NAV is ₹26.62 as of 10 Sep 2026.

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

The fund’s returns are 5.51% over 1 year, 9.55% over 3 years and 7.89% over 5 years.

How does the fund compare with the benchmark?

It has outpaced the Nifty 50 across the listed 1-year, 3-year and 5-year periods. The 1-year gap is especially notable because the benchmark was negative while the fund remained positive.

How does it compare with peer funds on recent returns?

Several peers in the comparison sample have higher 1-year returns, while the fund’s 3-year and 5-year figures remain competitive versus peers with available longer-term data. The comparison is stronger over longer horizons than over the latest year.

Is there a minimum SIP amount?

The fund allows SIPs, but a minimum SIP amount is not stated in the available facts.

What are the portfolio and exit-load features?

The largest disclosed holding is Net Receivables / (Payables) at 32.48%, and the top 10 holdings together account for 71.29% of the portfolio. Exit load is nil up to 10% of investments and 1% for the remaining investments if units are sold within 1 month, with no exit load after the holding period.

Bottom line

Axis Equity Savings Fund Direct Growth Plan has a steadier longer-term profile than its recent patch alone might suggest. It has stayed ahead of the benchmark across the listed horizons, though several peers have stronger recent 1-year numbers. The risk label is medium, not aggressive, and the portfolio is anchored by a very large cash-like position alongside other sizeable holdings. That mix may appeal to investors who want a multi-year hybrid fund with some downside cushioning and can accept uneven short-term momentum.

Published on 11 September 2026 at 5:43 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.