DSP Aggressive Hybrid Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

DSP Aggressive Hybrid Fund Direct Growth Plan is at a NAV of ₹393.841 as of 03 Sep 2026, with scheme AUM of ₹11,909 Cr. Its 1-year, 3-year and 5-year returns are -0.87%, 10.3% and 8.92% respectively, and the fund sits in the High Risk category.

Our view is that this is a hybrid fund for investors who can accept uneven near-term movement in exchange for a longer-term growth-oriented mix. The fund has been softer over 1 year, but its 3-year and 5-year numbers are more settled, and the portfolio still carries meaningful exposure to banks, equities and government securities.

Quick facts

Particular	Details
NAV	₹393.841 as of 03 Sep 2026
AUM	₹11,909 Cr
Expense Ratio	0.63%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	NIL upto 10% of investment within 12M, 1% exceding 10% of investment within 12M, NIL after 12M
Fund Managers	Abhishek Singh, Aniket Pande, Shantanu Godambe

The fund is managed by Abhishek Singh, Aniket Pande and Shantanu Godambe.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.16%	-3.01%
3M	2.45%	1.95%
1Y	-0.87%	-4.4%
3Y	10.3%	5.74%
5Y	8.92%	6.27%

The short-term picture is mixed rather than one-sided. The fund was down over 1 year, but that decline was still better than the benchmark's weaker 1-year outcome. Over 1 month, both the fund and benchmark were negative, while the 3-month period shows the fund slightly ahead again.

The longer view is more constructive. The 3-year return is above 10%, and the 5-year return remains positive and above the benchmark on both horizons. That tells us the fund has been able to compound better than Nifty 50 over medium and longer periods, even though the path has not been smooth.

The time pattern also points to periods of drawdown and recovery rather than a straight line. For a hybrid strategy, that is not unusual, but it does mean investors should expect volatility to show up from time to time, especially when equity markets are unsettled. The recent weakness does not erase the longer-term picture, but it does show that the journey can be uneven.

Overall, the fund has outpaced the benchmark on the 3-year and 5-year periods, while the 1-year gap is less favourable in absolute terms but still better than the index. That combination suggests the fund has delivered better medium-term compounding than the benchmark, with the trade-off of noticeable short-term swings.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD DSP Aggressive Hybrid?

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
DSP Aggressive Hybrid Fund Direct Growth Plan	-0.87%	10.3%	8.92%
HSBC Multi Asset Active FOF Direct Growth Plan	16.39%	15.84%	12.47%
Bank of India Aggressive Hybrid Fund Direct Growth Plan	15.68%	18.01%	15.26%
Quant Aggressive Hybrid Fund Direct Growth Plan	12.37%	13.89%	13.28%
Navi Aggressive Hybrid Fund Direct Growth Plan	11.3%	12.83%	11.82%
HSBC Aggressive Hybrid Active FOF Direct Growth Plan	9.73%	13.11%	11.16%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return is below all five peer figures listed here, so the recent stretch looks softer than the peer set. That said, the 3-year and 5-year returns are still positive, which makes the longer record more useful than the latest year alone.

Against the peer group, the 3-year figure is lower than each of the five comparison funds shown, and the 5-year number is also below the stronger peer outcomes. The peer picture therefore tells a different story from the benchmark comparison: the fund is ahead of Nifty 50 over 3 and 5 years, but the peer set has generally delivered stronger absolute returns over the same horizons.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd	Bank	8.19%
ICICI Bank Ltd	Bank	7.66%
ITC Ltd	FMCG	3.9%
Mahindra & Mahindra Ltd	Automobile & Ancillaries	3.86%
Kotak Mahindra Bank Ltd	Bank	3.83%
7.24% GOI 18082055	Government Securities	3.8%
Axis Bank Ltd	Bank	3.52%
Cipla Ltd	Healthcare	3.27%
6.90% GOI 15042065	Government Securities	3.26%
NTPC Ltd	Power	2.95%

The largest holding, HDFC Bank Ltd, stands at 8.19%, which is meaningful but not extreme for a diversified hybrid portfolio. The gap from the first holding to the tenth holding is not very steep: the tenth position is still 2.95%, so influence is spread across several large names rather than concentrated in just one stock.

The top 10 holdings together account for approximately 44.24% of the portfolio, and the fund discloses 51 holdings in total. That combination suggests a portfolio with a sizeable core in a limited number of positions, but also a broader tail that can reduce single-name dependence. Banks appear repeatedly among the largest positions, while government securities add a stabilising element.

Our view is that this mix may give the fund a balanced but still equity-sensitive shape. The largest positions are likely to matter to performance, yet the presence of multiple holdings beyond the top 10 means the portfolio is not built around one or two dominant bets.

To see all holdings, visit the DSP Aggressive Hybrid Fund Direct Growth Plan page

Source data date: as of 03 Sep 2026

Who should invest

This fund may suit investors who can tolerate High Risk and prefer a hybrid route with equity-led growth potential. The 3-year and 5-year numbers are more encouraging than the 1-year result, so the cleaner fit is for someone with a longer horizon rather than a short-term return target.

The main trade-off is that the fund has not been steady in the recent year, even though it has held up better over longer periods than Nifty 50. Compared with the peer set, the latest and medium-term figures are not the strongest, so investors need to accept that the fund can go through quieter or weaker phases before the longer-term pattern becomes clearer.

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

The exit load is NIL up to 10% of the investment if units are sold within 12 months, 1% on the portion exceeding 10% within 12 months, and NIL after 12 months. That means the first-year redemption cost depends on how much of the investment is withdrawn, while longer holding removes the exit load.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of DSP Aggressive Hybrid Fund Direct Growth Plan?
The current NAV is ₹393.841 as of 03 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -0.87%, the 3-year return is 10.3%, and the 5-year return is 8.92%.

How does the fund compare with Nifty 50?
It has done better than Nifty 50 over 3 years and 5 years, while also holding up better over 1 year. The 1-month and 3-month moves are also close to the benchmark pattern.

How does the fund compare with the peer funds listed here?
Its recent and medium-term returns are weaker than the peer funds shown in the comparison table. The peer set has delivered stronger absolute returns over 1 year, 3 years and 5 years.

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

Who manages the fund and what is the exit load?
The fund is managed by Abhishek Singh, Aniket Pande and Shantanu Godambe. The exit load is NIL up to 10% of the investment within 12 months, 1% on the portion exceeding 10% within 12 months, and NIL after 12 months.

Bottom line

This fund shows a weaker 1-year outcome but a more constructive 3-year and 5-year record, especially when measured against Nifty 50. The peer comparison is less flattering, because several listed peers have stronger returns across the same horizons. The portfolio has a meaningful core in large banks, but it also includes government securities, which may temper some of the equity risk. For investors who can live with High Risk and want a longer runway, the fund’s appeal rests more on its medium-term pattern than on its recent year.

Published on 4 September 2026 at 3:17 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.