DSP Natural Res & New Energy Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

DSP Natural Res & New Energy Fund Direct Growth Plan closed at ₹120.176 as of 16 Sep 2026, with scheme AUM of ₹2,574 Cr. Its 1-year, 3-year and 5-year returns are 16.84%, 18.55% and 15.71% respectively, while the official risk label is High Risk.

Our view is that this is a cyclical equity fund that has combined a stronger medium-term record with a choppier recent stretch. The portfolio is tilted toward energy, metals and overseas exposure, so return outcomes can move differently from the broad market benchmark.

Quick facts

Particular	Details
NAV	₹120.176 as of 16 Sep 2026
AUM	₹2,574 Cr
Expense Ratio	0.87%
Launch Date	02 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	No exit load
Fund Managers	Rohit Singhania

The fund is managed by Rohit Singhania.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.50%	-3.66%
3M	-1.48%	-3.71%
1Y	16.84%	-7.13%
3Y	18.55%	5.82%
5Y	15.71%	5.72%

The latest month and quarter were weak, but the fund still held up better than the benchmark in both windows. That matters because the benchmark was also soft; the fund’s smaller decline suggests it cushioned the drawdown more effectively than the index during this patch.

The 1-year figure is much stronger than the benchmark’s negative return, which shows that the fund recovered better over the last year than the broad market proxy. Over longer periods, the gap remains positive: the 3-year and 5-year returns both stand above the benchmark by a clear margin.

Even so, the near-term pattern is less smooth than the multi-year outcome. The time path suggests meaningful swings along the way, which is typical of a concentrated theme-oriented equity strategy. For investors, that means the fund has rewarded patience better than short holding periods.

In our view, the main takeaway is that this scheme has outpaced the benchmark over 1, 3 and 5 years, but the recent negative monthly and quarterly stretch reminds investors that returns can arrive unevenly. The long-run compounding profile is still better than the benchmark, though not without short bursts of volatility.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD DSP Natural Res & New Energy?

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 Natural Res & New Energy Fund Direct Growth Plan	16.84%	18.55%	15.71%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.80%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. Compared with the peer set, the fund’s 1-year return trails several available peers, especially the energy-focused FoF that has a much stronger recent number. The picture changes over longer periods: this fund’s 3-year return is better than the only peer with a disclosed 3-year figure, and its 5-year return is also solid in absolute terms. That split suggests a steadier long-horizon profile than the latest 12-month comparison alone might imply.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Blackrock Global Funds – World Energy Fund ^^	Overseas Mutual Fund Units	9.84%
Bharat Petroleum Corporation Limited	Crude Oil	7.91%
Reliance Industries Limited	Crude Oil	7.71%
TREPS / Reverse Repo Investments	Cash & Cash Equivalents and Net Assets	7.64%
Jindal Steel Limited	Iron & Steel	7.01%
Hindustan Zinc Limited	Non – Ferrous Metals	6.14%
Tata Steel Limited	Iron & Steel	6.09%
Indian Oil Corporation Limited	Crude Oil	5.71%
Oil & Natural Gas Corporation Limited	Crude Oil	5.52%
Hindustan Petroleum Corporation Limited	Crude Oil	5.19%

The largest holding is Blackrock Global Funds – World Energy Fund ^^ at 9.84%, so no single position is overwhelmingly dominant, but it is still large enough to matter. The next few holdings remain close in size, which means the portfolio is built around several meaningful positions rather than one outsized bet.

Weight then eases down gradually to 5.19% at the tenth holding, so the top end of the portfolio does not drop off sharply. That kind of spread may still leave the fund sensitive to moves in energy and metals, because many of the biggest positions sit in crude oil, iron & steel or related areas.

With the top 10 holdings accounting for approximately 68.76% of the portfolio and 26 holdings disclosed in total, the visible book looks fairly concentrated even though it is not a one-position story. That mix could allow strong upside when the theme is in favour, but it may also make the fund more exposed to reversals in a narrow set of sectors.

To see all holdings, visit the DSP Natural Res & New Energy Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and are comfortable with a theme-led equity portfolio that can move sharply over shorter periods. The 1-year, 3-year and 5-year numbers show that the fund has done better over time than in the very near term, so a longer horizon matters here.

The main trade-off is simple: you get exposure to a portfolio that has delivered stronger multi-year returns than the benchmark, but the journey can be volatile and theme dependent. Investors who want steadier market-style behaviour may find the swings too wide, while those who can sit through uneven patches may value the long-run compounding pattern.

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: No exit load.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of DSP Natural Res & New Energy Fund Direct Growth Plan?
The current NAV is ₹120.176 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 16.84% over 1 year, 18.55% over 3 years and 15.71% over 5 years.

How has the fund done against its benchmark?
It has outpaced the NIFTY 50 across 1 year, 3 years and 5 years. The recent 1-month and 3-month numbers are also less negative than the benchmark’s.

How does it compare with the peer funds listed here?
Its latest 1-year return is below several peers, but its 3-year and 5-year figures compare more favourably where those longer periods are available. The shorter-term comparison and the longer-term comparison do not tell exactly the same story.

Is there a minimum SIP amount?
The fund allows SIP, but a minimum SIP amount is not stated here.

What are the portfolio risk and exit-load features?
The fund carries a High Risk label and holds a concentrated mix across energy, oil, metals and cash-equivalent positions. There is no exit load, and the fund is managed by Rohit Singhania.

Bottom line

The fund’s recent monthly and quarterly performance is softer, but its 1-year, 3-year and 5-year returns still sit above the benchmark. Against peers, the latest 1-year number is less compelling, while the longer-horizon figures look more resilient where comparisons are available. The portfolio is concentrated in energy, oil and metals, with a meaningful overseas holding at the top. That makes the fund better suited to investors who accept High Risk and want theme-driven equity exposure with a longer holding period.

Published on 18 September 2026 at 3:42 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.