Kotak BSE Sensex Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak BSE Sensex Index Fund Direct Growth Plan has a NAV of ₹9.932 as of 18 Sep 2026 and an AUM of ₹23 Cr. Its 1-year, 3-year and 5-year returns are -9.84%, 0% and 0%, and the fund sits in the High Risk category. Our view is that it is best suited to investors who want a Sensex-linked index exposure and can accept near-term weakness, because the recent return profile has been softer than the benchmark and the scheme is still young.

The fund launched on 17 Feb 2025, so its long track record is limited. With a low expense ratio of 0.14% and a diversified large-cap basket, it may appeal to investors who prefer a passive equity core, but the current return pattern does not yet show steady compounding.

Quick facts

Particular	Details
NAV	₹9.932 as of 18 Sep 2026
AUM	₹23 Cr
Expense Ratio	0.14%
Launch Date	17 Feb 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar

The fund is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.19%	-3.73%
3M	-3.35%	-3.14%
1Y	-9.84%	-5.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Over the short term, the fund has been under pressure. Both the 1-month and 3-month figures are negative, and the 1-year return is also negative, which tells us that the scheme has faced a difficult stretch rather than a smooth index-tracking glide path.

The benchmark has also been weak, but the fund has trailed it over each available period. The gap is not huge in the 1-month and 3-month windows, yet the 1-year difference is wider, which suggests the fund has not fully matched the benchmark’s downward moves or recoveries.

Because the scheme was launched in Feb 2025, the 3-year and 5-year figures are not available for a meaningful fund-level track record. That makes the recent pattern more important than a long history. At this stage, we would read the fund as a plain-market exposure that has not yet demonstrated stable compounding through a full cycle.

The time pattern also shows a mixed path rather than a consistent trend line. There were brief recoveries in the middle of the 1-year window, but they were not sustained, so the overall picture remains one of volatility and a weak finish into the current period.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Kotak BSE Sensex 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
Kotak BSE Sensex Index Fund Direct Growth Plan	-9.84%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	31.6%	30.84%	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	21.44%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	21.24%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.45%	19.9%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available 1-year figures, the fund trails every peer listed here, while the peer set itself shows that several category alternatives have posted strong positive returns. That short-term gap matters because this scheme is still early in its life and has not yet built a record of resilience. The longer-term comparison is less direct, because the fund has no available 3-year or 5-year history, while some peers do, so the data points tell different stories for different horizons.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd.	Bank	11.85%
ICICI Bank Ltd.	Bank	11.4%
Reliance Industries Ltd.	Crude Oil	9.53%
Bharti Airtel Ltd.	Telecom	6.11%
Larsen and Toubro Ltd.	Infrastructure	5.17%
State Bank of India.	Bank	4.83%
Infosys Ltd.	IT	4.31%
Axis Bank Ltd.	Bank	4.02%
Kotak Mahindra Bank Ltd.	Bank	3.38%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	3.26%

The top 10 holdings account for approximately 63.86% of the portfolio.

To see all holdings, visit the Kotak BSE Sensex Index Fund Direct Growth Plan page

The largest holding, HDFC Bank Ltd., stands at 11.85%, which is a meaningful single-stock weight for an index fund. The next few positions are also sizeable, but the weight falls gradually rather than collapsing after the first name, which suggests that a small group of large-cap companies may have a stronger influence on day-to-day movement.

By the tenth holding, the weight has eased to 3.26%, so the portfolio is not dominated by one or two stocks alone. Still, the top 10 together account for 63.86% of the disclosed portfolio, and the scheme shows 30 disclosed holdings in total, so the rest of the basket is spread across a longer tail of smaller positions.

In our view, that structure is consistent with a large-cap index fund: broad enough to diversify single-company risk, but concentrated enough that the largest financial and market leaders may continue to shape returns. The balance of the portfolio may help track the benchmark closely over time, while the heavy presence of banks could keep the return path tied closely to financial-sector moves.

Source data date: as of 18 Sep 2026

Who should invest

This fund is suited to investors who are comfortable with High Risk equity exposure and want a low-cost index-style holding rather than an actively managed theme. The recent return pattern has been weak, so the scheme fits better in a long horizon where short-term drawdowns can be tolerated.

The main trade-off is that the portfolio gives broad large-cap market exposure, but it has not yet shown strong recent performance versus the benchmark or the peer set on the available 1-year numbers. Investors who want a simple Sensex-linked core and can wait through volatility may find the structure acceptable; those looking for steadier near-term outcomes may find the current pattern less compelling.

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 18 Sep 2026

Frequently asked questions

What is the current NAV of Kotak BSE Sensex Index Fund Direct Growth Plan?

The current NAV is ₹9.932 as of 18 Sep 2026.

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

The 1-year return is -9.84%, while the 3-year and 5-year returns are 0% in the fund facts view. In the performance table, the 3-year and 5-year figures are not available because the scheme is still early in its life.

How has the fund performed versus its benchmark?

The fund has trailed the benchmark in the periods where both figures are available. For 1 year, the fund is at -9.84% versus -5.31% for the benchmark, and the same pattern is visible in the 1-month and 3-month periods.

How does it compare with the peer funds listed here?

On the available 1-year figures, the fund is below all the listed peers. Several peer index funds show positive 1-year returns, while this scheme remains negative.

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 Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar. The exit load is nil, so no exit charge applies when units are sold.

Bottom line

Kotak BSE Sensex Index Fund Direct Growth Plan has a weak recent return profile, and that differs from what many investors would want to see in an index fund core. Its available short-term performance is below the benchmark and also below the peer figures listed here, while the portfolio still looks like a standard large-cap basket with a heavy bank tilt. The fund may fit investors with a long horizon who value a low-cost passive structure and can tolerate early-stage volatility, but the current record is still limited.

Published on 21 September 2026 at 9:36 AM 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.