Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund Direct Growth Plan is at a NAV of ₹13.2648 as of 16 Sep 2026, with scheme AUM of ₹6,355 Cr. Its 1-year, 3-year and 5-year returns are 6.08%, 7.42% and 0%, and the fund sits in the Balanced Risk category. In our view, this is a relatively steady index-linked debt-oriented option rather than a high-growth fund, so it suits investors who want measured return behaviour and are comfortable with state development loan exposure.

The portfolio is tilted heavily toward government securities maturing around 2027, which makes the fund’s return path more duration-sensitive than diversified equity or hybrid products. That profile can appeal to investors who want a defined maturity theme and moderate risk, but it also means the fund’s return pattern can differ sharply from broad equity benchmarks.

Quick facts

Particular	Details
NAV	₹13.2648 as of 16 Sep 2026
AUM	₹6,355 Cr
Expense Ratio	0.2%
Launch Date	11 Feb 2022
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.15% on or before 30D, Nil after 30D
Fund Managers	Abhishek Bisen

The fund is managed by Abhishek Bisen.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.4%	-4.41%
3M	1.39%	-3.6%
1Y	6.08%	-7.76%
3Y	7.42%	5.74%
5Y	Data not available	Data not available

The recent pattern is better than the benchmark on every available horizon. Over 1 month and 3 months, the fund stayed in positive territory while the benchmark was negative, which suggests the scheme held up better in a weak market backdrop.

The 1-year figure is also ahead of the benchmark by a wide margin. That matters because the benchmark’s negative 1-year reading shows that the fund’s structure was more resilient than a broad equity index over the same period, even though the fund itself is not a market-wide equity strategy.

Longer-term, the 3-year return remains positive and above the benchmark’s 3-year return, but the gap is narrower than in the shorter periods. Our view is that this points to a steadier compounding profile rather than a sharp momentum story. The 5-year field is not available, so we avoid drawing any longer cycle conclusion beyond what the 3-year record shows.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Kotak Nifty SDL Apr 2027 Top 12 Equal Weight 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.

Already holding Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund Direct Growth Plan	6.08%	7.42%	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 fund’s 1-year return trails the fastest-moving peer figures in this table, but that difference also reflects a very different investment theme. On the longer side, the 3-year return is below the stronger peer readings that are available, though it still shows positive compounding. The comparison tells a mixed story: the fund has been steadier than the benchmark over the short run, but it has not matched the stronger return momentum seen in several other index funds with different underlying exposures.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.59% Karnataka State Govt – 2027 – Karnataka	Government Securities	15.79%
7.62% Tamil Nadu State Govt – 2027 – Tamil Nadu	Government Securities	6.19%
7.78% West Bengal State Govt – 2027 – West Bengal	Government Securities	5.99%
6.58% Gujarat State Govt – 2027 – Gujarat	Government Securities	5.17%
7.59% Gujarat State Govt – 2027 – Gujarat	Government Securities	5.1%
7.75% Karnataka State Govt – 2027 – Karnataka	Government Securities	4.8%
7.67% Uttar Pradesh State Govt – 2027 – Uttar Pradesh	Government Securities	4.29%
7.86% Karnataka State Govt – 2027 – Karnataka	Government Securities	4.14%
7.71% Gujarat State Govt – 2027 – Gujarat	Government Securities	3.98%
7.64% Haryana State Govt – 2027 – Haryana	Government Securities	3.94%

The largest holding alone is 15.79%, which is sizable for a single security in a fund that otherwise spreads exposure across multiple state government securities. The drop from the first holding to the tenth is noticeable but not abrupt, moving from the mid-teens into the high-3% range, so the weight profile is concentrated at the top without being a pure one-position bet.

The top 10 holdings together account for approximately 59.39% of the portfolio. With 31 total holdings disclosed, that suggests the fund may still have a meaningful tail beyond the table, but the main return drivers are likely to come from the larger positions listed here. In our view, the structure points to moderate concentration in a defined maturity basket rather than a broadly dispersed allocation.

To see all holdings, visit the Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors who can tolerate balanced-risk debt-market movement and want a return pattern that is tied to state development loan exposure rather than equity-style growth. The 1-year and 3-year results show positive compounding, while the benchmark comparison shows that the fund has been more resilient than the Nifty 50 over the recent periods we can observe.

The main trade-off is that the portfolio is concentrated in government securities with a 2027 maturity theme, so the return path may not match broader market rallies and can remain sensitive to rate and duration conditions. That makes the scheme more suitable for a medium-term horizon and for investors who want steadier behaviour than equities, but still accept that returns may vary meaningfully with the interest-rate backdrop.

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: 0.15% on or before 30D, Nil after 30D.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund Direct Growth Plan?
Its NAV is ₹13.2648 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.08%, the 3-year return is 7.42%, and the 5-year return is not available.

How has the fund compared with the benchmark?
It has outpaced the Nifty 50 across the available 1-month, 3-month, 1-year and 3-year periods. The benchmark’s 1-year return is negative, while the fund stayed positive.

How does the fund compare with the peer funds listed here?
Its recent returns are lower than several of the peer schemes shown, especially the faster-moving equity-oriented index funds. The comparison is still useful because it shows a different return profile rather than a direct like-for-like contest.

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

What risk profile and exit load should investors note?
The fund is in the Balanced Risk category. The exit load is 0.15% on or before 30D and nil after 30D.

Bottom line

This fund has shown a steadier short-term pattern than the benchmark, while the 3-year record remains positive but less striking than several peer funds with different market exposures. The portfolio is built around state government securities clustered near 2027 maturity, so the scheme’s behaviour is shaped more by that fixed-income structure than by broad equity market moves. For investors who want a moderate-risk, maturity-focused index strategy, that profile can be suitable, provided they are comfortable with return variation tied to rates and duration.

Published on 17 September 2026 at 2:11 PM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.