Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan has an NAV of ₹10.3965 as of 16 Sep 2026 and a scheme AUM of ₹363 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund carries a Balanced Risk profile.

Our view is that this is a relatively contained, short-duration debt-index style option for investors who want a narrow financial-services credit exposure rather than broad market beta. The recent return profile is modest, but the portfolio mix and low expense ratio point to a steady, rules-based structure.

Quick facts

Particular	Details
NAV	₹10.3965 as of 16 Sep 2026
AUM	₹363 Cr
Expense Ratio	0.0%
Launch Date	12 Mar 2026
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Vikash Agarwal

The fund is managed by Vikash Agarwal.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.52%	-4.41%
3M	1.85%	-3.60%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Over the very recent periods, the fund has held up better than the benchmark, which is visible in both the 1-month and 3-month figures. That relative resilience matters for a debt-index fund because it suggests the scheme has been less volatile than the benchmark during a weaker patch.

The pattern also shows only a mild upward drift in the fund versus a clearer drawdown in the benchmark. For an investor, that means the fund has not been chasing sharp moves; instead, it has behaved in a steadier way over the short window available.

Because the scheme launched only on 12 Mar 2026, there is no long trailing history here to read as a mature compounding record. That makes the latest short-window behaviour more useful than any long-horizon conclusion, and it also limits how much confidence we can place in the pattern beyond the current period.

Against the benchmark, the fund looks ahead on the available short-term numbers. Still, the benchmark here is Nifty 50, so the comparison is best read as a broad reference point rather than a like-for-like debt yardstick. Our view is that the main takeaway is stability rather than strong absolute return.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Nippon India CRISIL-IBX Financial Services 3-6 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
Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan	Data not available	Data not available	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.

On the available peer return figures, this fund trails the short-term numbers shown by the equity-oriented peer set by a wide margin. That is not surprising given the fund’s debt-style construction, but it does mean the comparison is more about capital stability than return leadership.

Where the peers show visible 3-year history, the fund does not yet have a comparable record in the table. So the short-term and longer-term peer stories are different: the peers are being judged on multi-year growth, while this scheme is still in the early stage of its life.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Bank of Baroda	Certificate of Deposit	10.88%
Small Industries Dev Bank of India**	Certificate of Deposit	9.46%
Punjab National Bank	Certificate of Deposit	9.44%
7.83% National Bank for Agriculture and Rural Development**	Corporate Debt	6.89%
7.52% REC Limited	Corporate Debt	6.88%
7.91% Sundaram Home Finance Limited	Corporate Debt	6.88%
6.4% LIC Housing Finance Limited	Corporate Debt	6.86%
Axis Bank Limited**	Certificate of Deposit	6.75%
Kotak Mahindra Bank Limited**	Certificate of Deposit	6.74%
Canara Bank**	Certificate of Deposit	5.39%

The largest disclosed holding, Bank of Baroda, stands at 10.88%, so no single position dominates the portfolio on its own. The fall from the first holding to the tenth is gradual rather than abrupt, which suggests the portfolio is built around several similarly sized exposures rather than one very large bet.

The top 10 holdings account for approximately 76.17% of the portfolio, and there are 21 disclosed holding rows in total. That indicates a meaningful concentration in the leading positions, while still leaving a long tail beyond the top 10.

The mix is split between certificate of deposit holdings and corporate debt holdings among the disclosed positions, which may help spread issuer-specific exposure across several names. Still, because the listed positions are fairly close in size, the top of the portfolio is likely to have greater influence on day-to-day movement than the smaller tail holdings.

To see all holdings, visit the Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund may suit investors who can accept a Balanced Risk profile and do not need a long return track record before taking a view. The short-window results are steadier than the benchmark, but the scheme is still young, so it fits better as a tactical or niche allocation than as a core long-term return anchor.

The main trade-off is that you are choosing a relatively defensive, rules-based debt structure with modest recent returns and limited history. Investors with a short-to-medium horizon and a preference for lower drama in day-to-day movement may find that more useful than a fund that tries to chase stronger upside.

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 Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan?
The current NAV is ₹10.3965 as of 16 Sep 2026.

What are the fund’s recent returns?
Its 1-month return is 0.52% and its 3-month return is 1.85%. The 1-year, 3-year and 5-year return fields are not available in the visible return table because this scheme is very new.

How does the fund compare with the benchmark?
It has held up better than the benchmark in the available 1-month and 3-month periods. The benchmark figures in those periods are lower and negative, which makes the fund look steadier over the short window.

How does it compare with peer funds on available return data?
Its available short-term returns are far below the equity-focused peer figures shown in the comparison table. That difference mainly reflects the fund’s debt-style mandate rather than a simple performance gap.

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

What is the exit load and who manages the fund?
There is no exit load. The fund is managed by Vikash Agarwal.

Bottom line

This scheme is still at an early stage, so the recent numbers matter more than any long history. The available short-term performance is steadier than the benchmark, while the peer table shows that its return profile is very different from the higher-growth equity peers listed there. With Balanced Risk, a low expense ratio and a portfolio made up of several close-sized debt and CD holdings, it looks more suited to investors who value structure and stability over high return ambition.

Published on 17 September 2026 at 3:54 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.