Nippon India CRISIL-IBX AAA Financial Services - Jan 2028 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Nippon India CRISIL-IBX AAA Financial Services – Jan 2028 Index Fund Direct Growth Plan is at ₹11.4689 as of 11 Sep 2026, with an AUM of ₹82 Cr. Its 1-year, 3-year and 5-year returns are 6.2%, 0%, and 0%, and it sits in the Balanced Risk category. Our view is that this is a niche index fund with limited history, so it suits investors who can live with a short performance record and want a conservative credit-oriented structure rather than a broad equity-style growth profile.

The fund’s recent return pattern is modest, while the benchmark has been weaker over the same periods. That makes the fund look steadier than the benchmark in the near term, but the absence of a longer track record means we would treat it as a specialised allocation rather than a core holding.

Quick facts

Particular	Details
NAV	₹11.4689 as of 11 Sep 2026
AUM	₹82 Cr
Expense Ratio	0.15%
Launch Date	25 Oct 2024
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Vivek Sharma

The fund is managed by Vivek Sharma.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.4%	-3.66%
3M	1.77%	-1.91%
1Y	6.2%	-7.62%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Near term, the fund has held up better than the benchmark in all the available periods. The 1-month return was slightly positive while the benchmark was negative, and the same pattern continued over 3 months and 1 year. That tells us the fund has been more resilient than the benchmark in a difficult stretch.

The 1-year number is especially important because the fund has only been live since October 2024. We would not stretch that into a long-term conclusion, but it does show that the fund has not simply followed the benchmark lower in the recent period. Instead, it has delivered positive results while the benchmark has remained under pressure.

The short history matters here. Because the scheme has no usable 3-year or 5-year track record, the stronger recent numbers should be read as early evidence rather than proof of durable outperformance. The time pattern also looks relatively contained, which fits a portfolio built around high-quality financial-services debt rather than a volatile market-linked strategy.

Compared with the benchmark, the return gap is clear across each available period. The fund’s behaviour is better than the benchmark in the near term, but the absence of multi-year data means we would keep our interpretation measured. This is a fund where current steadiness matters more than long-term compounding evidence.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD Nippon India CRISIL-IBX AAA Financial Services – Jan 2028 Index?

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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
Nippon India CRISIL-IBX AAA Financial Services – Jan 2028 Index Fund Direct Growth Plan	6.2%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.23%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.22%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	26.18%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	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 data, the fund trails the strongest peer returns by a wide margin, even though it remains well ahead of the benchmark. The peer set also shows a very different style of return pattern: several peers have much higher 1-year outcomes, while this fund’s 3-year and 5-year fields are not available because it does not yet have that history.

That makes the comparison split into two parts. In the short term, the fund looks weaker than the highest-return peers; over longer horizons, we cannot compare it on the same footing because the record is too short. For investors, that means the fund’s recent steadiness is the main case for it, not multi-year compounding evidence.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
8.01% Mahindra & Mahindra Financial Services Limited**	Corporate Debt	12.18%
7.74% Power Finance Corporation Limited**	Corporate Debt	8.17%
8.37% Kotak Mahindra Investments Limited**	Corporate Debt	6.11%
7.54% Indian Railway Finance Corporation Limited**	Corporate Debt	6.1%
7.95% LIC Housing Finance Limited**	Corporate Debt	6.1%
7.98% Bajaj Housing Finance Limited**	Corporate Debt	6.1%
7.99% Kotak Mahindra Prime Limited**	Corporate Debt	6.1%
8.12% Bajaj Finance Limited	Corporate Debt	6.1%
7.92% Aditya Birla Capital Limited**	Corporate Debt	6.09%
7.68% Tata Capital Limited**	Corporate Debt	6.08%

The largest holding has a weight of 12.18%, which is meaningful but not dominating on its own. The next few positions are also sizeable, but the gap between the first holding and the tenth is not extreme, so the fund looks built around a cluster of similar credit exposures rather than a single outsized bet.

The top 10 holdings account for approximately 69.13% of the portfolio, and that gives us a useful read on concentration. The disclosed holding set contains 20 rows in total, so the visible positions cover a little over half of the portfolio and still leave room for a longer tail. That suggests the fund may be moderately concentrated in a handful of corporate debt issuers, with the remaining holdings likely helping to spread issuer-level risk.

Because every listed position sits in Corporate Debt, the portfolio profile is fairly focused. That focus may help explain why the fund’s recent return pattern has been steadier than the benchmark in weak market conditions. At the same time, the concentration in a limited set of similar instruments means investors are taking a narrower type of exposure than they would in a broadly diversified multi-asset fund.

To see all holdings, visit the Nippon India CRISIL-IBX AAA Financial Services – Jan 2028 Index Fund Direct Growth Plan page

Source data date: as of 11 Sep 2026

Who should invest

This fund fits investors who are comfortable with a Balanced Risk profile and want a relatively measured return stream rather than sharp upside. The 1-year result is positive, but the absence of 3-year and 5-year history means the case for it rests more on current behaviour and portfolio quality than on a long compounding record.

Our view is that the fund is better suited to someone with a medium to long horizon who understands that recent stability against the benchmark does not guarantee the same pattern ahead. The main trade-off is simple: you get a focused credit-based index strategy with low ongoing expenses, but you give up the deeper history and broader return profile that many investors prefer for core allocation decisions.

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 11 Sep 2026

Frequently asked questions

What is the current NAV of Nippon India CRISIL-IBX AAA Financial Services – Jan 2028 Index Fund Direct Growth Plan?
The current NAV is ₹11.4689 as of 11 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 6.2%, while the 3-year and 5-year returns are Data not available because the track record is still short.

How has the fund performed versus the benchmark?
It has been ahead of the benchmark in the available 1-month, 3-month and 1-year periods. The benchmark’s 1-year return is -7.62%, compared with the fund’s 6.2%.

How does it compare with the peer funds listed here?
On the available 1-year figures, the fund is well below the strongest peer returns, while several peers have much higher recent outcomes. The longer-horizon peer comparisons are not usable for this fund because its own 3-year and 5-year history is not available.

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

What are the fund’s risk and portfolio characteristics?
It is in the Balanced Risk category and the visible holdings are entirely in Corporate Debt. The top 10 holdings account for about 69.13% of the portfolio, and the fund has no exit load.

Bottom line

This fund’s recent numbers are better than the benchmark, but the longer-horizon picture is still incomplete because the scheme has not built a 3-year or 5-year record yet. Against peers on the available 1-year data, it looks much more restrained, which reinforces that this is a specialised credit-oriented allocation rather than a return-chasing option. The portfolio is concentrated in Corporate Debt and the top holdings carry meaningful weight, so the fund may suit investors who value a focused, lower-cost structure and can accept the limits of a short history.

Published on 15 September 2026 at 3:42 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.