Kotak CRISIL-IBX AAA Bond Financial Services Index - Dec 2026 Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak CRISIL-IBX AAA Bond Financial Services Index – Dec 2026 Fund Direct Growth Plan has a NAV of ₹11.2108 as of 15 Sep 2026 and an AUM of ₹128 Cr. Its 1-year, 3-year and 5-year returns are 6.71%, 0% and 0% respectively, and the scheme sits in the Balanced Risk category. Our view is that it suits investors who want a short-duration, debt-oriented allocation with limited return history and a portfolio built around AAA financial-services paper rather than broad market exposure.

The fund’s recent return pattern is modest, while its benchmark context has been weak over the same periods. That makes the scheme more relevant for investors looking for a contained risk profile and category-specific debt exposure than for those seeking strong compounded growth.

Quick facts

Particular	Details
NAV	₹11.2108 as of 15 Sep 2026
AUM	₹128 Cr
Expense Ratio	0.1%
Launch Date	17 Feb 2025
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Abhishek Bisen

The fund is managed by Abhishek Bisen.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.54%	-4.81%
3M	1.85%	-3.63%
1Y	6.71%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term numbers are better than the benchmark’s own move over the same windows, and that matters because the index has been negative across 1 month, 3 months and 1 year. Even so, the fund’s gains are still measured rather than strong, which is more consistent with a debt-style strategy than an equity-style growth story.

Over the 1-year period, the fund stayed positive while the benchmark was in negative territory. That gap tells us the scheme has offered much better relative stability than the benchmark in the recent period, even if the absolute return is not high. For an investor, the key point is that the fund has not needed a strong market backdrop to remain ahead of the benchmark on the available horizons.

The pattern across the time series also suggests a gradual, uneven advance rather than a sharp upward move. There were small pauses and mild pullbacks, but the overall direction remained constructive. Because 3-year and 5-year figures are not yet available, we would treat the current track record as early and still forming, not as a complete cycle-tested record.

On balance, the recent behaviour is stronger than the benchmark and better than the weaker backdrop implied by the index figures, but it does not yet tell a long-history compounding story. That is important for a scheme launched in 2025, where the available record is still short.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Kotak CRISIL-IBX AAA Bond Financial Services Index – Dec 2026?

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 CRISIL-IBX AAA Bond Financial Services Index – Dec 2026 Fund Direct Growth Plan	6.71%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.71%	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 is well below the stronger 1-year figures in the peer set, but the comparison remains fair only in a broad sense because the peers span different strategies and risk profiles. Even so, the fund has been positive where several peers show much higher gains, which tells us it has not matched the more growth-oriented outcomes in this list.

On the longer horizon, the fund does not yet have 3-year or 5-year figures, while some peers do. That means the current scheme’s record is incomplete relative to the more established names in the table. The available peer data therefore tells two different stories: the short-term result is modest, while the lack of longer-history numbers limits any deeper comparison.

For investors, the main takeaway is that the fund is not competing on return strength with the higher-growth peers in this group, but its debt-focused profile and benchmark behaviour may appeal to a different use case.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.83% National Bank for Agriculture & Rural Development**	Corporate Debt	13.75%
7.69% LIC Housing Finance Ltd.**	Corporate Debt	13.59%
7.68% Indian Railway Finance Corporation Ltd.**	Corporate Debt	13.21%
7.99% HDB Financial Services Ltd.**	Corporate Debt	7.77%
7.98% Bajaj Housing Finance Ltd.**	Corporate Debt	7.75%
8.23% Kotak Mahindra Prime Ltd.**	Corporate Debt	6.99%
7.52% REC Ltd	Corporate Debt	6.98%
8.04% Sundaram Finance Ltd.**	Corporate Debt	5.43%
Net Current Assets/(Liabilities)	Cash & Cash Equivalents and Net Assets	5.29%
7.44% Small Industries Development Bank of India**	Corporate Debt	4.65%

The top 10 holdings account for approximately 85.41% of the portfolio.

To see all holdings, visit the Kotak CRISIL-IBX AAA Bond Financial Services Index – Dec 2026 Fund Direct Growth Plan page

The largest position is 13.75%, which is sizable for a single holding in a debt index fund and could have a noticeable effect on day-to-day movements. The weight then steps down to 13.59% and 13.21% for the next two holdings, so influence is not confined to one issuer alone.

Even so, there is a clear cluster of heavier positions at the top, followed by a drop into the 7% range and then the 5% area. That shape suggests the portfolio is not evenly spread across all disclosed holdings; the larger names may contribute more to returns and volatility than the smaller positions in the tail.

With 16 holdings disclosed and 85.41% represented by the top 10, the portfolio looks fairly concentrated in a limited set of issuers. That concentration may be appropriate for an index-style debt strategy, but it also means investors should be comfortable with issuer-level weight being a meaningful driver of short-term movement.

Source data date: as of 15 Sep 2026

Who should invest

This fund is better suited to investors who are comfortable with a Balanced Risk profile and want a debt-oriented allocation rather than an equity-style growth engine. The recent return pattern has been positive but modest, and the benchmark comparison has favoured the fund in the short term, which points to steadier behaviour than the index backdrop. The main trade-off is that the portfolio is concentrated in a relatively small set of AAA financial-services issuers, so the return profile may be steadier than equities but still depends on issuer-level exposure.

Given the short history since launch, it makes more sense for investors with a medium-term outlook who are evaluating it as part of a broader fixed-income allocation. It is less compelling for someone who wants a long, multi-cycle record or materially higher return potential. The fund’s fit is strongest where the goal is controlled debt exposure with a clear benchmark-led structure.

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 Kotak CRISIL-IBX AAA Bond Financial Services Index – Dec 2026 Fund Direct Growth Plan?
Its NAV is ₹11.2108 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.71%, while the 3-year and 5-year returns are not available yet.

How has it performed against the benchmark recently?
It has outperformed the benchmark over 1 month, 3 months and 1 year. The benchmark return figures for those periods are negative, while the fund remained positive.

How does it compare with the peer funds listed here?
Its 1-year return is below the stronger 1-year figures shown by several peers. It also does not yet have 3-year or 5-year figures, so the comparison is limited on longer horizons.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is its exit load?
The fund is managed by Abhishek Bisen. The exit load is no exit load.

Bottom line

This is a short-history, debt-oriented index fund that has stayed positive in the recent periods even though the benchmark has been negative. Its peer comparison is less about matching high-growth funds and more about showing that the scheme has delivered modest, steadier behaviour so far. The risk category is Balanced Risk, and the portfolio is concentrated in AAA financial-services issuers, so issuer-level exposure is an important feature to understand. It looks most relevant for investors seeking controlled fixed-income exposure rather than strong compounding potential.

Published on 16 September 2026 at 12:41 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.