Edelweiss Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Edelweiss Overnight Fund Direct Growth Plan is an overnight-style liquid scheme with a current NAV of ₹1426.4491 as of 17 Sep 2026 and scheme AUM of ₹192 Cr. Its 1-year, 3-year and 5-year returns are 5.26%, 6.03% and 5.66%, and it carries a Low Risk label. Our view is that it suits conservative investors who value capital stability and steady short-horizon movement more than aggressive return chasing.

The fund has stayed close to the broad shape of the benchmark over time, while its portfolio is built almost entirely around cash-like and very short-dated instruments. That mix supports low-volatility behaviour, but it also means the return profile is modest and should be assessed as a parking-and-liquidity solution rather than a growth-led equity alternative.

Quick facts

Particular	Details
NAV	₹1,426.4491 as of 17 Sep 2026
AUM	₹192 Cr
Expense Ratio	0.11%
Launch Date	24 Jul 2019
Min SIP	₹1,000
Risk Category	Low Risk
Benchmark	Nifty 50
Fund Category	Liquid
Exit Load	No exit load
Fund Managers	Hetul Raval, Kedar Karnik

The fund is managed by Hetul Raval and Kedar Karnik.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.4%	-3.66%
3M	1.26%	-3.71%
1Y	5.26%	-7.13%
3Y	6.03%	5.82%
5Y	5.66%	5.72%

The recent pattern is better than the benchmark over 1 month, 3 months and 1 year. That is important because the benchmark has been negative over those same periods, while the fund has still produced positive returns. For a liquid fund, that kind of relative steadiness matters more than chasing a high headline figure.

Over 3 years, the fund’s return of 6.03% sits just ahead of the benchmark’s 5.82%, which tells us the longer run has been orderly rather than dramatic. Over 5 years, the fund at 5.66% is slightly below the benchmark at 5.72%, so the edge is not consistent across every horizon.

The time pattern also suggests a low-volatility path with only modest swings in direction. We do not see the kind of sharp drawdown-and-rebound behaviour that would typically belong to more aggressive strategies. Instead, the fund has behaved like a cash-preservation vehicle that compounds slowly and aims to stay resilient through different market phases.

That combination is useful for investors who want short-duration parking with limited movement. It is also why the fund’s performance should be read in context: the aim is not to beat equity-like returns, but to maintain a stable, low-risk profile while keeping money productive.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Edelweiss Overnight?

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
Edelweiss Overnight Fund Direct Growth Plan	5.26%	6.03%	5.66%
Bank of India Overnight Fund Direct Growth Plan	5.51%	6.21%	5.83%
360 ONE Overnight Fund Direct Growth Plan	5.31%	Data not available	Data not available
Baroda BNP Paribas Overnight Fund Direct Growth Plan	5.29%	6.08%	5.72%
Nippon India Overnight Fund Direct Growth Plan	5.29%	6.09%	5.73%
JioBlackRock Overnight Fund Direct Growth Plan	5.28%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On 1-year returns, the fund trails Bank of India Overnight Fund Direct Growth Plan and is close to the next set of peers, with only small gaps among the available figures. That tells us the short-term picture is competitive but not distinctly ahead of the field.

The longer-term view is similar: its 3-year and 5-year returns are broadly in line with the available peer set, though Bank of India Overnight Fund Direct Growth Plan, Baroda BNP Paribas Overnight Fund Direct Growth Plan and Nippon India Overnight Fund Direct Growth Plan sit a little higher on both horizons. The difference is not wide, but it does show that this fund has kept pace rather than clearly leading the group.

The short-term and longer-term pictures therefore tell a consistent story. The fund is steady, but the available peer data suggests that a few competitors have maintained a slight edge across multiple horizons.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Reverse Repo	Cash & Cash Equivalents and Net Assets	91.61%
Net Receivables/(Payables)	Cash & Cash Equivalents and Net Assets	2.7%
182 Days Tbill Red 03-09-2026	Treasury Bills	2.6%
182 Days Tbill Red 18-09-2026	Treasury Bills	2.6%

The largest holding, Reverse Repo, accounts for 91.61% of the portfolio, so it likely has the strongest influence on day-to-day movement. That is a clear sign of a highly defensive structure, with most of the scheme positioned for liquidity and capital protection rather than extended market exposure.

The weight drops sharply after that first position. The next holding is just 2.7%, and the Treasury Bill positions are 2.6% each, which shows that the disclosed holdings are tightly clustered around very short-term instruments and cash equivalents. The gap between the largest and smallest disclosed positions is very wide.

Because the table discloses only four holdings and the combined disclosed weight is 99.51%, the portfolio appears highly concentrated in the visible positions. That concentration may support a stable overnight-style profile, but it also means the fund’s behaviour is shaped by a small set of very low-duration assets.

Source data date: as of 17 Sep 2026

Who should invest

This fund is suitable for conservative investors who are comfortable with Low Risk positioning and want very limited portfolio movement. It fits a short to medium parking horizon better than a long-term growth objective, because the return pattern is steady but modest.

The main trade-off is clear: you give up upside potential in exchange for stability, liquidity and a return profile that has stayed close to benchmark movement over time. That makes it more relevant for temporary cash management, emergency reserves or other low-volatility needs than for wealth-building with higher growth ambitions.

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 17 Sep 2026

Frequently asked questions

What is the current NAV of Edelweiss Overnight Fund Direct Growth Plan?

The current NAV is ₹1426.4491 as of 17 Sep 2026.

How has Edelweiss Overnight Fund Direct Growth Plan performed over 1 year, 3 years and 5 years?

Its 1-year return is 5.26%, 3-year return is 6.03% and 5-year return is 5.66%.

How does this fund compare with its benchmark?

It has outperformed the benchmark over 1 month, 3 months, 1 year and 3 years, while the 5-year return is slightly below the benchmark.

Which peer fund has the strongest available 1-year return among the listed peers?

Bank of India Overnight Fund Direct Growth Plan has the highest available 1-year return at 5.51% among the listed peers.

What is the minimum SIP amount?

The minimum SIP amount is not provided here, so we do not state a minimum SIP figure.

Who manages the fund and what is the exit load?

The fund is managed by Hetul Raval and Kedar Karnik. There is no exit load.

Bottom line

Edelweiss Overnight Fund Direct Growth Plan looks built for stability rather than excitement. Its short-term returns have been positive and its 3-year result is slightly ahead of the benchmark, while the 5-year picture is almost in line with it. The portfolio is heavily concentrated in reverse repo and other very short-term holdings, which reinforces the fund’s low-volatility character. For investors who want a conservative parking option with limited movement, it fits that role well.

Published on 18 September 2026 at 4:27 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.