HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 Index Fund Direct Growth Plan has a NAV of ₹12.8077 as of 17 Sep 2026 and manages ₹48 Cr. Its 1-year, 3-year and 5-year returns are 5.79%, 7.35% and 0%, and the scheme sits in a Balanced Risk profile.

Our view is that this is a relatively simple government-securities-led index fund for investors who want a fixed-maturity style debt allocation with low expense ratio visibility, but it still carries meaningful price movement risk. The portfolio is dominated by sovereign and state-backed papers, so the return pattern is tied more to rate moves and duration behaviour than to credit selection.

Quick facts

Particular	Details
NAV	₹12.8077 as of 17 Sep 2026
AUM	₹48 Cr
Expense Ratio	0.2%
Launch Date	23 Mar 2023
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Anupam Joshi, Sankalp Baid

The fund is managed by Anupam Joshi and Sankalp Baid.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.32%	-3.66%
3M	1.25%	-3.71%
1Y	5.79%	-7.13%
3Y	7.35%	5.82%
5Y	Data not available	Data not available

The short-term picture is clearly better than the benchmark. Over 1 month, 3 months and 1 year, the fund stayed positive while the benchmark was negative in all three periods. That tells us the fund has handled the recent interest-rate backdrop better than the benchmark measure used here.

The 3-year return is also positive at 7.35%, and it stays ahead of the benchmark’s 5.82% over the same horizon. That gap is narrower than the short-term spread, which suggests the fund’s relative edge is not only a very recent effect. Even so, the profile is still modest in absolute return terms, which is consistent with a debt-oriented index strategy rather than an equity-style growth engine.

The 1-year time pattern shows some ups and downs rather than a straight line, and the 3-year pattern also moves in waves. Our reading is that the fund has benefited from periods of stability and rate support, but it is not a smooth compounding story. With no 5-year figure available, we would place more weight on the 3-year and recent data than on any longer-range inference.

Overall, the benchmark comparison says the fund has done better than the benchmark across the available windows, but the gains remain sensitive to the path of interest rates. That makes it more useful as a portfolio building block than as a high-return core.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 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
HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 Index Fund Direct Growth Plan	5.79%	7.35%	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.45%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.13%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.68%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	17.57%	18.84%	Data not available

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

The current fund’s 1-year return is much lower than the stronger equity-oriented peer figures shown here, which is expected given its debt-heavy construction. Among the peers with 3-year data, the fund is behind the ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan and the ICICI Pru Nifty Pharma Index Fund Direct Growth Plan on the available figures, but it is not trying to play the same role. The more useful comparison is that its own 3-year result remains positive and ahead of the benchmark used for this fund, while several peer rows do not even carry a longer history in the same window.

That tells us the short-term peer picture and the longer-term peer picture are not the same. In the near term, the fund looks modest next to high-growth index strategies; over 3 years, it still shows a positive return profile, but the gap versus the strongest peer numbers remains wide. For an investor, the main takeaway is that this fund may serve a different job: steadier debt-style exposure rather than a return leader in absolute terms.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.38% GOI Mat 200627	Government Securities	43.12%
7.86% Karnataka SDL – Mat 150327^	Government Securities	17.2%
6.79% GOI Mat 150527	Government Securities	12.39%
7.22% Chhattisgarh SDL – Mat 250127^	Government Securities	10.3%
7.23% Tamil Nadu SDL Mat 140627^	Government Securities	6.21%
TREPS – Tri-Party Repo	Cash & Cash Equivalents and Net Assets	3.52%
7.69% Haryana SDL Mat 150627^	Government Securities	2.66%
Net Current Assets	Cash & Cash Equivalents and Net Assets	1.78%
7.77% Kerala SDL – Mat 010327^	Government Securities	1.03%
7.52% Gujarat SDL – Mat 240527^	Government Securities	0.86%

The top 10 holdings account for approximately 99.07% of the portfolio.

To see all holdings, visit the HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 Index Fund Direct Growth Plan page

The largest holding, 7.38% GOI Mat 200627, carries a weight of 43.12%, which is a very large single-position influence for a debt index fund. The next holding drops to 17.2%, so the gap from first to second is steep, and the tenth holding is only 0.86%. That pattern tells us the portfolio is not evenly spread across the disclosed holdings; a few lines dominate the weight profile.

At the same time, the holdings are still all government securities or cash-like items, which keeps the credit story straightforward. With 99.07% of the portfolio covered by the disclosed top 10 and 11 total holdings disclosed, the tail beyond the visible list is likely small in impact, even though it still exists. In our view, that level of concentration may make the fund more sensitive to a handful of duration positions than to a broad set of smaller bets.

This also means the portfolio can behave quite differently from an equity fund. The return path may depend heavily on how these few sovereign and SDL papers respond to rate changes, rather than on company-specific developments.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who are comfortable with a moderate risk profile and understand that a government-securities index fund can still move with interest rates. The 1-year and 3-year figures show positive returns, but the pattern is not smooth, so the most appropriate horizon is medium to long term rather than a very short holding period. The benchmark comparison is helpful because the fund has stayed ahead of the benchmark across the available windows, yet the gap to higher-return peer strategies also shows that this is not meant for aggressive growth seekers.

The trade-off is simple: you get relatively transparent sovereign exposure and low expense ratio visibility, but you accept that returns may remain modest and rate-sensitive. The concentrated weighting in a few government papers also means the portfolio’s behaviour may be shaped by a small set of positions. That makes it more suitable for investors who want disciplined debt allocation than for those looking for strong upside momentum.

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

No exit load.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 Index Fund Direct Growth Plan?
The current NAV is ₹12.8077 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.79%, its 3-year return is 7.35%, and its 5-year return is 0% in the current record set.

How has the fund done versus its benchmark?
It has outpaced the benchmark in every available window here. The fund shows 0.32% versus -3.66% for 1 month, 1.25% versus -3.71% for 3 months, 5.79% versus -7.13% for 1 year, and 7.35% versus 5.82% for 3 years.

How does it compare with the peer funds listed here?
Its return profile is much lower than the equity-oriented peers shown in the comparison table. The fund still has a positive 3-year result, but several peers post much higher 1-year figures and some also have stronger 3-year numbers.

Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹100.

What are the tax, exit load and fund-manager details?
Units held for less than 1 year attract 20% short-term capital gains tax, while units held for more than 1 year attract 12.5% long-term capital gains tax. There is no exit load, and the fund is managed by Anupam Joshi and Sankalp Baid.

Bottom line

The fund’s recent numbers are better than its benchmark and still positive over 3 years, but the overall return level remains measured rather than high-octane. Compared with the peer figures shown here, it looks far more conservative, which fits its government-securities-heavy structure. The key portfolio feature is the very large weight in one sovereign paper, so outcomes may be shaped by a small set of rate-sensitive positions. For investors who want transparent debt exposure and can live with moderate, rate-linked movement, it can play a useful role.

Published on 18 September 2026 at 12:38 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.