BHARAT Bond FOF - April 2031 - Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

BHARAT Bond FOF – April 2031 – Direct Growth Plan is at a NAV of ₹14.2026 as of 15 September 2026, with an AUM of ₹4,587 Cr. Its 1-year, 3-year and 5-year returns are 4.67%, 7.34% and 6.35%, and the scheme sits in the Medium Risk category.

Our view is that this is a relatively steady debt-oriented fund of fund with modest long-term compounding and a portfolio that is heavily concentrated in a single underlying holding. The return pattern has been more resilient over 3 years and 5 years than in the latest 1-year period, so it may suit investors who value smoother participation over chasing higher short-term gains.

Quick facts

Particular	Details
NAV	₹14.2026 as of 15 Sep 2026
AUM	₹4,587 Cr
Expense Ratio	0.08%
Launch Date	23 Jul 2020
Min SIP	₹100
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	0.10% on or before 30D, Nil after 30D
Fund Managers	Hetul Raval, Rahul Dedhia

The fund is managed by Hetul Raval and Rahul Dedhia.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.22%	-4.81%
3M	0.29%	-3.63%
1Y	4.67%	-8.27%
3Y	7.34%	5.59%
5Y	6.35%	5.58%

The latest 1-month and 3-month readings show that the fund has held up better than the benchmark during a weak patch for the index. That matters because the benchmark has been negative over both periods, while the fund has still stayed close to flat at 3 months and only mildly negative over 1 month.

Over 1 year, the gap is much clearer. The fund’s 4.67% return is positive, while the benchmark has fallen 8.27%, which tells us the fund has been more defensive over the last year than the broader equity market proxy. That does not make it a high-growth allocation, but it does show stronger relative stability.

The 3-year and 5-year figures are more balanced. At 7.34% over 3 years and 6.35% over 5 years, the fund has outpaced the benchmark in both periods, but not by a wide margin. Our read-through is that the fund’s longer-term profile is steady rather than aggressive, with the recent trend weaker than the 3-year picture but still better than the benchmark’s own recent stretch.

Seen together, the pattern suggests a fund that has not relied on sharp bursts of upside to build its record. Instead, it has delivered modest compounding with a comparatively stable path, which may appeal to investors who want moderate return delivery with less abrupt movement than the benchmark.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD BHARAT Bond FOF – April 2031 -?

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 BHARAT Bond FOF – April 2031 -? 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
BHARAT Bond FOF – April 2031 – Direct Growth Plan	4.67%	7.34%	6.35%
SBI Silver ETF FOF Direct Growth Plan	81.88%	Data not available	Data not available
Axis Silver FoF Direct Growth Plan	80.07%	45.18%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	79.84%	Data not available	Data not available
HDFC Silver ETF FoF Direct Growth Plan	79.28%	44.70%	Data not available
Kotak Silver ETF FoF Direct Growth Plan	74.67%	44.26%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On recent return data, the fund is far behind the silver-focused peers listed here, but that comparison also reflects very different underlying exposures. The more useful read is that the fund’s own 3-year and 5-year numbers are steadier than its 1-year figure, while several peers with available 3-year data have shown much stronger medium-term momentum. That makes the short-term and longer-term stories diverge meaningfully.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
BHARAT BOND ETF-APRIL 2031-GROWTH	Domestic Mutual Funds Units	99.74%

The portfolio is extremely concentrated, with the single disclosed holding accounting for 99.74% of assets. In absolute terms, that means almost the entire fund is tied to one underlying mutual fund unit holding, so the fund’s outcome is likely to be driven primarily by that exposure.

Because the table discloses only one holding, there is no visible second or tenth position to soften that concentration. The disclosed holding count is one, which reinforces how narrow the portfolio picture is at this level. In practical terms, the fund may offer a very focused exposure profile rather than a broad basket, and that concentration could matter more than the small headline expense ratio.

Since the disclosed holding list contains just one row, the fund does not present a long tail of positions in the visible portfolio. That can make the structure easier to understand, but it also means investors should be comfortable with the reliance on a single underlying instrument.

Source data date: as of 15 Sep 2026

Who should invest

This fund may fit investors who are comfortable with Medium Risk and who want a steadier, debt-oriented fund of fund exposure rather than an equity-style growth profile. The 1-year return has been weaker than the 3-year and 5-year pattern, but it has still stayed positive over 1 year while the benchmark was negative, which points to resilience in softer markets.

The main trade-off is that the fund’s longer-term returns are modest, so investors may accept lower upside in exchange for a smoother path and benchmark-beating recent defensiveness. The single-holding structure also means the outcome is more concentrated than a diversified multi-holding portfolio, so a medium-term horizon and tolerance for limited return acceleration are important.

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

0.10% on or before 30D, Nil after 30D.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of BHARAT Bond FOF – April 2031 – Direct Growth Plan?
The current NAV is ₹14.2026 as of 15 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 4.67% for 1 year, 7.34% for 3 years and 6.35% for 5 years.

How has the fund performed against the benchmark?
It has beaten the benchmark in the 1-month, 3-month, 1-year, 3-year and 5-year periods shown here. The gap is especially wide over 1 year, while the longer periods are closer.

How concentrated is the portfolio?
The disclosed portfolio is highly concentrated, with one holding carrying 99.74% weight. That means the fund’s visible exposure is almost entirely linked to a single underlying mutual fund holding.

What is the exit load?
The exit load is 0.10% if units are sold on or before 30 days, and nil after 30 days.

Who manages the fund?
The fund is managed by Hetul Raval and Rahul Dedhia.

Bottom line

This fund’s recent 1-year return is weaker than its 3-year and 5-year record, but it still stayed ahead of the benchmark over the periods shown. The profile looks more stable than exciting, with Medium Risk classification and a portfolio that is almost fully concentrated in one disclosed holding. That combination may suit investors seeking a focused, lower-volatility style of exposure and who are comfortable with modest compounding rather than rapid upside.

Published on 16 September 2026 at 4:14 PM 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.