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

DSP Credit Risk Fund Direct Growth Plan has a NAV of ₹60.8133 as of 03 Sep 2026 and an AUM of ₹287 Cr. Its 1-year, 3-year and 5-year returns are 11.4%, 16.79% and 13.35%, and the fund is tagged as Medium Risk. Our view is that it suits investors who can accept credit-risk driven fluctuations in exchange for a return pattern that has held up well over longer periods, even though the recent pace is more moderate than the 3-year run.

The fund’s behaviour has been steadier than the equity benchmark it is compared with, and its longer-term compounding is the more relevant guide here. The portfolio also leans on a fairly concentrated set of holdings, so it is better suited to investors who are comfortable with security selection mattering a lot.

Quick facts

Particular	Details
NAV	₹60.8133 as of 03 Sep 2026
AUM	₹287 Cr
Expense Ratio	0.4%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	Nil for 10% of investment and 1% for remaining Investment on or before 12M, Nil after 12M
Fund Managers	Vivekanand Ramakrishnan, Shalini Vasanta, Kunal Khudania

The fund is managed by Vivekanand Ramakrishnan, Shalini Vasanta and Kunal Khudania.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.4%	-3.01%
3M	2.31%	1.95%
1Y	11.4%	-4.4%
3Y	16.79%	5.74%
5Y	13.35%	6.27%

The recent return pattern is constructive. The 1-month and 3-month figures show modest gains, which suggests the fund has kept moving forward rather than delivering a sharp near-term jump. That is useful in a debt fund where many investors care more about consistency than about a single strong month.

Over longer horizons, the picture improves. The 3-year return is materially stronger than the 1-year number, which tells us the fund has compounded better through a fuller market cycle than it did over the latest year alone. The 5-year return stays ahead of the benchmark and remains comfortably positive, so the longer record does not depend only on one short burst of performance.

Against the benchmark, the fund is ahead across every period shown. The gap is especially clear in the 1-year, 3-year and 5-year windows, where the benchmark’s returns are notably lower. That makes the fund’s relative track record easy to read: it has outpaced the benchmark while still showing some slowing in the most recent stretch compared with the stronger multi-year run.

The time pattern also suggests a fund that can move through brief pauses without losing its longer-term shape. For an investor, that means the main question is not whether the fund can deliver every month, but whether the credit-risk approach and the pace of returns fit a portfolio that can tolerate periodic unevenness.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD DSP Credit Risk?

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 Credit Risk Fund Direct Growth Plan	11.4%	16.79%	13.35%
Bank of India Credit Risk Fund Direct Growth Plan	17.94%	10.09%	27.78%
Aditya Birla SL Credit Risk Fund Direct Growth Plan	13.25%	13.19%	10.94%
ICICI Pru Credit Risk Fund Direct Growth Plan	8.92%	9.17%	8.03%
Axis Credit Risk Fund Direct Growth Plan	8.86%	8.87%	7.7%

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

On the latest 1-year figure, the fund sits behind Bank of India Credit Risk Fund Direct Growth Plan and Aditya Birla SL Credit Risk Fund Direct Growth Plan, but it is still ahead of ICICI Pru Credit Risk Fund Direct Growth Plan and Axis Credit Risk Fund Direct Growth Plan. That keeps the short-term picture mixed rather than one-sided.

On the 3-year and 5-year numbers, the same fund looks more balanced. It leads the available peers on 3-year return and stays ahead of the two lower-return peers on 5-year return, even though Bank of India Credit Risk Fund Direct Growth Plan shows a much stronger 5-year figure. So the fund’s relative case is not built on one period alone; it is stronger in the medium term than in the very recent year, while the longest period still compares well against part of the peer set.

The short-term and longer-term comparisons therefore tell different stories. The latest year does not look as strong as the 3-year record, but the longer run still supports the fund’s standing as a credit-risk strategy with an established return profile.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
6.94% GOI 11052036	Government Securities	8.9%
Kotak Mahindra Bank Ltd**	Certificate of Deposit	8.4%
Tata Projects Ltd**	Corporate Debt	8.05%
Nuvoco Vistas Corporation Ltd**	Corporate Debt	7.35%
Aditya Birla Digital Fashion Ventures Ltd**	Corporate Debt	6.99%
Adani Power Ltd**	Corporate Debt	6.98%
Aditya Birla Renewables Ltd**	Corporate Debt	5.62%
JTPM Metal Traders Ltd**	Corporate Debt	5.61%
Tata Housing Development Co Ltd**	Corporate Debt	5.42%
Adani Airport Holdings Ltd**	Corporate Debt	5.26%

The largest holding, 6.94% GOI 11052036, is 8.9% of the portfolio, so no single position dominates the book on its own. The tenth holding is 5.26%, which shows that the top positions remain fairly close together rather than dropping away sharply after the first few names.

The top 10 holdings account for approximately 68.58% of the portfolio. With 21 disclosed holdings in total, the fund is concentrated enough that the largest positions could have noticeable influence, but there is still a longer tail beyond the top 10. That mix may help keep the portfolio from depending on just a couple of securities, while still leaving security selection as an important driver of outcomes.

The spread from the first holding to the tenth is not extreme, and that suggests the portfolio is built more as a layered credit book than as a highly concentrated single-bet strategy. For investors, that can mean the fund’s performance may reflect both the quality of the larger positions and the behaviour of the rest of the credit book.

To see all holdings, visit the DSP Credit Risk Fund Direct Growth Plan page

Source data date: as of 03 Sep 2026

Who should invest

This fund may suit investors with a medium-to-high tolerance for credit risk and a longer holding horizon. The 1-year return is decent, but the stronger 3-year and 5-year figures matter more because they show how the fund has behaved beyond a short stretch. Compared with the benchmark, the return profile has been consistently better, which supports its use as a debt allocation for investors who want more than plain-vanilla bond-fund behaviour.

The main trade-off is that the return potential comes with credit selection risk and a portfolio that relies meaningfully on its larger holdings. Investors who want a very steady short-term debt outcome may find that uncomfortable, while those who can stay invested through uneven periods may find the multi-year pattern more relevant.

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 for 10% of investment and 1% for remaining investment if units are sold on or before 12 months; no exit load after 12 months.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of DSP Credit Risk Fund Direct Growth Plan?

The current NAV is ₹60.8133 as of 03 Sep 2026.

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

The 1-year return is 11.4%, the 3-year return is 16.79% and the 5-year return is 13.35%.

How does the fund compare with its benchmark?

It is ahead of the benchmark across the 1-month, 3-month, 1-year, 3-year and 5-year periods shown. The gap is especially clear over 1 year and longer.

How does it compare with peer funds on available return data?

The fund is ahead of some peers on 3-year and 5-year return, while Bank of India Credit Risk Fund Direct Growth Plan shows a stronger 1-year and 5-year figure. The short-term and longer-term peer comparisons do not point in exactly the same direction.

Is there a minimum SIP amount?

The fund allows SIP investments, but no minimum SIP figure is listed here.

What risk and portfolio features stand out?

The fund is tagged as Medium Risk, and its top holdings are fairly spread out among the largest positions rather than being dominated by one name. The fund is managed by Vivekanand Ramakrishnan, Shalini Vasanta and Kunal Khudania.

Bottom line

The fund’s recent return pattern is steadier than exciting, but its 3-year and 5-year record is stronger and more useful for judging it as a credit-risk debt strategy. It compares well with the benchmark and shows a mixed but generally respectable stance versus peers on the available return windows. The portfolio is moderately concentrated, with the largest holdings likely to matter. That makes it more suitable for investors who want credit-led return potential and can stay patient through uneven short-term periods.

Published on 4 September 2026 at 4:17 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.