DSP Nifty Healthcare Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

DSP Nifty Healthcare Index Fund Direct Growth Plan is a healthcare-focused index fund with a NAV of ₹11.6038 as of 15 Sep 2026 and scheme AUM of ₹25 Cr. Its 1-year, 3-year and 5-year returns are 11.4%, 0% and 0%, respectively. The fund is tagged High Risk, and our view is that it suits investors who want healthcare-sector exposure but are comfortable with sharp swings and a short live track record.

The portfolio is led by a few large healthcare names, with the top holding at 18.08% and the top 10 holdings together at 77.31%. That structure can make the fund more sensitive to a handful of stocks even though it remains diversified across 20 disclosed holdings. Against its benchmark behaviour, the fund has held up better recently than the broader index, but the longer record is still too short to call it a proven compounding story.

Quick facts

Particular	Details
NAV	₹11.6038 as of 15 Sep 2026
AUM	₹25 Cr
Expense Ratio	0.24%
Launch Date	20 Jun 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Anil Ghelani, Diipesh Shah, Neha Rathi

The fund is managed by Anil Ghelani, Diipesh Shah and Neha Rathi.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.8%	-4.81%
3M	5.84%	-3.63%
1Y	11.4%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is better than the benchmark’s pattern, especially over 3M and 1Y. The fund’s 1M return was mildly negative, but it still fell less than the benchmark, which suggests the portfolio has been more resilient in a weak stretch for the index. Over 3M, the fund moved decisively ahead while the benchmark stayed in negative territory, and that gap is the clearest sign of relative strength in the recent window.

The 1Y number gives the same message: the fund is positive while the benchmark is negative. That does not make the fund low risk, because the riskometer still places it in High Risk and the fund is concentrated in one sector, but it does show that the healthcare basket has behaved differently from the broader market over the last year. For an index fund, that kind of divergence is important because it tells us the sector choice, not active stock selection, has driven the outcome.

We would be cautious about extending the recent strength too far into the future. The fund launched only in June 2025, so there is no usable 3-year or 5-year history to judge long-cycle consistency. In that sense, the current record is encouraging at the short end but still incomplete for anyone looking for evidence of durability across a full market cycle.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD DSP Nifty Healthcare 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
DSP Nifty Healthcare Index Fund Direct Growth Plan	11.4%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.71%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.45%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.15%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.11%	18.92%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return trails the strongest peer figures in this set, but the comparison also shows that its own recent gain is still positive while some peers have posted meaningfully higher advances over the same horizon. Where longer history is available for peers, the healthcare fund’s record cannot yet be judged on the same footing because its 3-year and 5-year figures are not available.

That makes the peer picture mixed rather than one-dimensional. On the short end, the fund has not matched the highest peer returns, but it has still delivered a positive 1-year outcome in a year when its benchmark comparison is negative. For longer horizons, the limited history means the comparison mainly highlights how much younger this scheme is than the more seasoned options with 3-year numbers. For readers, the key point is that recent momentum is present, but the evidence base is still short.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Sun Pharmaceutical Industries Limited	Healthcare	18.08%
Divi'S Laboratories Limited	Healthcare	10.35%
Apollo Hospitals Enterprise Limited	Healthcare	7.88%
Cipla Limited	Healthcare	6.82%
Max Healthcare Institute Limited	Healthcare	6.67%
Laurus Labs Limited	Healthcare	6.41%
Torrent Pharmaceuticals Limited	Healthcare	6.39%
DR. Reddy'S Laboratories Limited	Healthcare	6.05%
Lupin Limited	Healthcare	4.57%
Aurobindo Pharma Limited	Healthcare	4.09%

The largest holding is Sun Pharmaceutical Industries Limited at 18.08%, which is a meaningful single-stock weight for an index fund. After that, the weights step down fairly quickly into the 10% to 6% range, and the tenth holding is still 4.09%. That pattern suggests the portfolio is not dependent on one position alone, but the first few holdings are still likely to have greater influence on day-to-day movement than the smaller names.

The top 10 holdings account for approximately 77.31% of the portfolio, and that is a fairly concentrated profile even though the fund discloses 20 holdings in total. The long tail beyond the top 10 may help soften single-stock influence, but the visible block remains heavily tilted toward a handful of large healthcare companies. For investors, that means sector direction and the performance of the leading constituents can matter a lot.

Because the portfolio is fully within healthcare names in the disclosed holdings, the fund may behave more like a focused sector allocation than a broad equity diversifier. That can be useful when an investor wants targeted exposure, but it also means the fund may not diversify away sector-specific stress the way a wider market fund can.

If you want to see the complete list of disclosed holdings, visit the DSP Nifty Healthcare Index Fund Direct Growth Plan page

To see all holdings, visit the DSP Nifty Healthcare Index Fund Direct Growth Plan page

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors who can handle High Risk exposure and are comfortable with a concentrated healthcare theme. The recent 1-year result is positive, but the fund is too new to show a long multi-year track record, so the main case for it is sector exposure rather than proven cycle-long consistency. Investors with a medium-to-long horizon may find the idea more suitable than those who need a steadier broad-market pattern.

The main trade-off is clear: you get focused participation in healthcare companies, but you also accept that returns may differ sharply from the broader market and from other sector funds. The positive recent trend versus the benchmark is encouraging, yet the limited history means the fund still carries more uncertainty than older schemes with longer records. If a portfolio already has ample broad equity exposure, this may work better as a satellite allocation than as a core holding.

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 15 Sep 2026

Frequently asked questions

What is the current NAV of DSP Nifty Healthcare Index Fund Direct Growth Plan?
Its NAV is ₹11.6038 as of 15 Sep 2026.

How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is 11.4%, while the 3-year and 5-year returns are not available because the scheme is too new for those periods.

How does the fund compare with its benchmark?
It has outpaced the benchmark in the recent windows shown here. The fund is positive over 1M, 3M and 1Y, while the benchmark is negative over the same periods.

How does it compare with peer funds on available return data?
Its 1-year return is lower than several peer funds in the comparison set, but the peer group includes funds with different themes and different available histories. The healthcare fund’s longer returns are not yet available.

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 Anil Ghelani, Diipesh Shah and Neha Rathi. It has no exit load.

Bottom line

DSP Nifty Healthcare Index Fund Direct Growth Plan has shown a healthier short-term pattern than its benchmark, but its record is still young and does not yet stretch into a full multi-year track record. The peer comparison also shows that some other funds have delivered stronger recent gains, while this fund’s own advantage lies more in healthcare-focused exposure than in long-history consistency. The portfolio is concentrated in a small set of large healthcare names, so sector moves can matter a lot. That makes it more suitable for investors who understand focused equity risk and want thematic exposure.

Published on 16 September 2026 at 5:53 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.