Kotak CRISIL-IBX Financial Services 9 to 12 Months Debt Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak CRISIL-IBX Financial Services 9 to 12 Months Debt Index Fund Direct Growth Plan currently has a NAV of ₹10.6287 as of 16 Sep 2026 and scheme AUM of ₹1,055 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0% respectively, and the scheme carries a Balanced Risk label. Our view is that this is a narrowly targeted debt index fund that may suit investors looking for a short-duration, portfolio-oriented debt allocation rather than a return profile that is already proven across longer periods.

The fund’s recent movement has been modest, with gains visible over the latest 1-month and 3-month windows, while the benchmark has been weaker over the same stretches. That makes the near-term picture more constructive than the long-run headline history, but the scheme is still too young for meaningful 3-year or 5-year track records. For investors, the main question is whether the focused credit exposure and low-cost structure fit the role they want this fund to play inside a broader allocation.

Quick facts

Particular	Details
NAV	₹10.6287 as of 16 Sep 2026
AUM	₹1,055 Cr
Expense Ratio	0.12%
Launch Date	24 Sep 2025
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Exit Load	No exit load
Fund Managers	Manu Sharma

The fund is managed by Manu Sharma.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.48%	-4.41%
3M	1.91%	-3.60%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

In the latest 1-month and 3-month periods, the fund has stayed slightly positive while the benchmark has been negative. That is a useful sign for a debt-oriented product, because it suggests the portfolio has been relatively steady through a weak benchmark patch.

The short windows matter here because the fund launched only in September 2025, so the longer return horizon is not yet meaningful in a track-record sense. The 1-year, 3-year and 5-year figures are therefore not available, and the fund should be read more as a new live portfolio than as a seasoned long-history compounder.

The recent pattern is better than the benchmark’s, but the magnitude is still small. That tells us the fund has been defensive rather than strongly growth-led, which is consistent with a short-tenor debt index strategy where stability generally matters more than sharp upside.

Over a longer observation window, the fund has not yet established a multi-year return path that can be compared with the benchmark in a traditional way. For now, the more relevant question is whether the recent steadiness continues while the portfolio matures.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Kotak CRISIL-IBX Financial Services 9 to 12 Months Debt 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 CRISIL-IBX Financial Services 9 to 12 Months Debt Index Fund Direct Growth Plan	Data not available	Data not available	Data not available
Baroda BNP Paribas Gold ETF FoF Direct Growth Plan	34.39%	Data not available	Data not available
HDFC Innovation Fund Direct Growth Plan	14.3%	Data not available	Data not available
Bajaj Finserv Small Cap Fund Direct Growth Plan	13.33%	Data not available	Data not available
Quant Equity Savings Fund Direct Growth Plan	8.75%	Data not available	Data not available
Kotak Active Momentum Fund Direct Growth Plan	6.31%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s short-term return profile is materially below the better 1-year figures in this peer set, but that is not a fair full comparison because the available peer universe here is dominated by categories with very different return behavior. What matters more is that this fund has no multi-year record yet, so its near-term steadiness is the main signal available. Against peers with accessible 1-year data, it looks subdued rather than standout on upside, while the lack of 3-year and 5-year figures leaves the longer comparison incomplete.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd.**	Certificate of Deposit	11.46%
7.71% REC Ltd**	Corporate Debt	9.49%
7.8% National Bank for Agriculture & Rural Development	Corporate Debt	9.49%
Bank of Baroda**	Certificate of Deposit	9.22%
Bajaj Housing Finance Ltd.**	Commercial Paper	9.14%
7.73% LIC Housing Finance Ltd.	Corporate Debt	7.11%
Tata Capital Ltd.**	Commercial Paper	6.85%
8.3% Tata Capital Ltd.**	Corporate Debt	4.75%
Indian Bank	Certificate of Deposit	4.6%
Punjab National Bank**	Certificate of Deposit	4.58%

The top 10 holdings account for approximately 76.69% of the portfolio.

To see all holdings, visit the Kotak CRISIL-IBX Financial Services 9 to 12 Months Debt Index Fund Direct Growth Plan page

The largest holding is HDFC Bank Ltd.** at 11.46%, which is a meaningful but not dominant single position. After that, the weights remain fairly close together for much of the top bucket, with several holdings clustered between roughly 9% and 7% and then tapering toward the mid-4% range by the tenth name. That pattern suggests the portfolio may not depend on only one or two positions.

At the same time, the top 10 together represent 76.69% of the disclosed portfolio, so the fund does have a fairly concentrated visible core even though it also shows a longer tail beyond the top positions. Because 19 holdings are disclosed in total and more holdings exist beyond the first ten, the portfolio appears to spread risk across several issuers while still keeping a large share in a limited set of instruments. For a short-duration debt strategy, that balance may help keep the fund relatively focused without making any one holding overwhelming.

Source data date: as of 16 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a moderate risk label and want a short-horizon debt allocation rather than an equity-style growth profile. The recent return pattern has been steady and slightly positive, but the absence of multi-year performance history means the fund has not yet proved itself across a full market cycle.

It can fit better as a portfolio building block than as a standalone return driver. Investors who prefer lower-cost exposure, can live with concentrated issuer exposure in the disclosed holdings, and are comfortable with benchmark-linked debt behaviour may find the risk-reward trade-off acceptable.

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 16 Sep 2026

Frequently asked questions

What is the current NAV of Kotak CRISIL-IBX Financial Services 9 to 12 Months Debt Index Fund Direct Growth Plan?

The current NAV is ₹10.6287 as of 16 Sep 2026.

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

The 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available. The scheme was launched on 24 Sep 2025, so a long track record is not yet available.

How has the fund performed versus its benchmark recently?

It has been slightly positive over 1 month and 3 months, while the benchmark was negative over the same periods. That points to a steadier recent pattern than the benchmark.

How does the fund compare with peer funds on available return data?

Its available 1-year return is not comparable with the shorter live history, while several peers in the comparison table show positive 1-year numbers. The longer return fields are not available for either this fund or those peers in the table.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

What are the fund’s risk label, portfolio concentration and exit load?

The fund carries a Balanced Risk label. The top 10 holdings account for approximately 76.69% of the portfolio, and the scheme has no exit load.

Bottom line

This fund’s recent performance is steadier than its benchmark over the latest short windows, but it still lacks a meaningful multi-year return history. Compared with the available peer figures, it does not stand out on the shown 1-year numbers, and the longer comparison is incomplete because those figures are not available. The portfolio is fairly concentrated in a handful of disclosed holdings, yet it also extends beyond the top names. Overall, it looks more suitable for investors seeking a short-duration debt sleeve with moderate risk and low expense drag than for anyone expecting a long, proven return record.

Published on 17 September 2026 at 11:40 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.