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

Axis NIFTY IT Index Fund Direct Growth Plan currently has an NAV of ₹10.2497 as of 17 Sep 2026 and an AUM of ₹137 Cr. Its 1-year, 3-year and 5-year returns are -18.26%, -2.79% and 0% respectively. The fund sits in the High Risk bucket, so our view is that it fits investors who can tolerate sharp swings and who want a focused thematic IT exposure rather than broad market diversification.

The recent return pattern has been weak, especially over 1 year, and the portfolio is highly concentrated in a small set of IT names. That combination makes the scheme more suitable for investors with a longer horizon and a clear view on the technology cycle, while still accepting that the benchmark-like path has been uneven.

Quick facts

Particular	Details
NAV	₹10.2497 as of 17 Sep 2026
AUM	₹137 Cr
Expense Ratio	0.32%
Launch Date	14 Jul 2023
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 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.55%	-3.66%
3M	2.56%	-3.71%
1Y	-18.26%	-7.13%
3Y	-2.79%	5.82%
5Y	Data not available	Data not available

Over the very short term, the fund has moved in a choppy but not completely one-way pattern. The 1-month return is slightly better than the benchmark, while the 3-month return stands out as a clear rebound after a weaker stretch. That tells us the scheme can recover quickly when the underlying IT basket improves, but it can also give back gains just as fast.

The 1-year number is the most important caution point. At -18.26%, the fund has lagged the benchmark’s -7.13% by a wide margin, which points to meaningful pressure in the recent cycle. For investors, this matters because a fund can look stable over a few weeks yet still struggle over a full year if sector sentiment stays weak.

The longer pattern is also softer than the benchmark. The 3-year return is negative for the fund, while the benchmark has remained positive over the same period. In our view, that gap suggests the scheme has not merely faced a temporary dip; it has also underperformed across a fuller market cycle. The 5-year figure is shown as Data not available because the scheme itself has not been live long enough to build that history.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Axis NIFTY IT 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 NIFTY IT Index? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Axis NIFTY IT Index Fund Direct Growth Plan	-18.26%	-2.79%	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.

On 1-year return, this fund trails every peer listed here by a wide distance, while some of those peers have delivered strong positive numbers. That short-term contrast is important because it shows the scheme has not participated in the same recent momentum that helped several thematic funds.

The longer view is also less comfortable. The available 3-year figures for peers are positive in two cases and materially higher than this fund’s negative 3-year return, so the gap is not just a one-period issue. The short-term and longer-term comparisons therefore tell the same story: this scheme has lagged the better-performing alternatives in this set on the return figures available.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Infosys Limited	IT	28.96%
Tata Consultancy Services Limited	IT	20.33%
HCL Technologies Limited	IT	11.48%
Tech Mahindra Limited	IT	10.56%
Coforge Limited	IT	7.06%
Persistent Systems Limited	IT	6.21%
Wipro Limited	IT	5.10%
LTM Limited	IT	4.31%
Mphasis Limited	IT	3.28%
Oracle Financial Services Software Limited	IT	3.05%

The largest holding, Infosys Limited, carries a 28.96% weight, which is large enough to shape the fund’s day-to-day behaviour. The second holding is also substantial at 20.33%, so the portfolio begins with two positions that together may have a strong influence on returns.

The weight then steps down gradually rather than collapsing after the top two names. Even so, the tenth holding still stands at 3.05%, which shows that the scheme remains meaningfully anchored in a handful of large IT stocks rather than a very broad spread. Our view is that this shape can amplify moves when the sector is strong, but it can also magnify weakness when sentiment turns.

The top 10 holdings account for approximately 100% of the portfolio, and the table covers all disclosed holdings. That means the exposure is concentrated across a short list of names rather than spread across a long tail, which is consistent with a focused index strategy in one sector.

Source data date: as of 17 Sep 2026

Who should invest

This fund is better suited to investors who are comfortable with High Risk exposure and can hold through swings in a single-sector strategy. The recent return pattern and the negative 3-year figure suggest that patience matters here, because short bursts of recovery have not yet translated into durable longer-term strength.

The scheme may appeal to investors who already have a diversified core portfolio and want a more focused IT allocation alongside it. The main trade-off is clear: the portfolio is concentrated and can move sharply with the sector, so the possibility of cyclical upside comes with a meaningful chance of underperformance during weak technology phases.

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 7 days; nil after 7 days.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Axis NIFTY IT Index Fund Direct Growth Plan?
The current NAV is ₹10.2497 as of 17 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The 1-year return is -18.26%, the 3-year return is -2.79% and the 5-year return is Data not available.

How has the fund done versus the benchmark?
It has lagged the benchmark over 1 year and 3 years. The 1-month return is slightly better than the benchmark, but the 3-month and 1-year pictures remain mixed to weak.

How does it compare with the peer funds listed here?
Its 1-year return is lower than each peer shown here, and the available 3-year figures for peers are also stronger than this fund’s 3-year return.

What is the minimum SIP?
The minimum SIP is ₹100.

Who manages the fund and what is the exit load?
The fund is managed by Nandik Mallik and Rohit Gautam. The exit load is 0.25% on or before 7 days and nil after 7 days.

Bottom line

Axis NIFTY IT Index Fund Direct Growth Plan has shown a weak longer-run return profile, even though the shortest-term numbers hint at some recovery. Against the benchmark and the peer set shown here, the fund looks softer on the available return history, which matters because its High Risk profile and concentrated IT exposure can magnify both gains and losses. For investors who want a focused sector allocation and can tolerate that volatility, the fund may still serve a role, but it is not a broad-market substitute.

Published on 18 September 2026 at 1:29 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.