SBI Balanced Advantage Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

SBI Balanced Advantage Fund Direct Growth Plan has a NAV of ₹16.3264 as of 16 September 2026 and a scheme AUM of ₹41,802 Cr. Its 1-year, 3-year and 5-year returns are 1.56%, 9.18% and 9.99%, and the scheme is tagged as High Risk. Our view is that it fits investors who can accept sharp short-term swings in exchange for a hybrid allocation that has held up better over longer periods than over the latest year.

The fund sits on a large asset base, and its recent return pattern is softer than its 3-year and 5-year record. That makes it more suitable for investors with a longer horizon who want a balanced-advantage style fund, rather than someone looking for steady near-term gains.

Quick facts

Particular	Details
NAV	₹16.3264 as of 16 Sep 2026
AUM	₹41,802 Cr
Expense Ratio	0.73%
Launch Date	31 Aug 2021
Min SIP	₹250
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 10% of units and 1% for remaining units on or before 1Y, Nil after 1Y
Fund Managers	Dinesh Balachandran, Rajeev Radhakrishnan, Mansi Sajeja

The fund is managed by Dinesh Balachandran, Rajeev Radhakrishnan and Mansi Sajeja.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.44%	-4.41%
3M	-1.29%	-3.6%
1Y	1.56%	-7.76%
3Y	9.18%	5.74%
5Y	9.99%	5.67%

Recent returns have been weak in absolute terms, but they were still less negative than the benchmark over 1 month and 3 months. That tells us the fund has not avoided short-term pressure, yet it has handled the latest patch better than the index.

The 1-year figure is modest, but it matters that the benchmark was negative over the same stretch. Even in a difficult year, the fund stayed slightly positive while Nifty 50 fell, which suggests a more defensive blend than a pure equity profile.

The longer record looks stronger. Over 3 years and 5 years, the fund is ahead of the benchmark by a clear margin, which supports the case that its structure has been more effective across a full market cycle than in the latest year alone.

Our read-through is that this is not a smooth compounding story. It has had a softer recent run, but the 3-year and 5-year numbers show that the fund has still been able to compound at a better pace than the benchmark over a longer horizon.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD SBI Balanced Advantage?

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
SBI Balanced Advantage Fund Direct Growth Plan	1.56%	9.18%	9.99%
Unifi Dynamic Asset Allocation Fund Direct Growth Plan	8.6%	Data not available	Data not available
Aditya Birla SL Balanced Advantage Fund Direct Growth Plan	5.17%	10.96%	9.97%
Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan	4.23%	11.11%	10.62%
360 ONE Balanced Hybrid Fund Direct Growth Plan	3.64%	Data not available	Data not available
Bank of India Balanced Advantage Fund Direct Growth Plan	3.62%	8.24%	10.21%

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 better recent peer figures in this set, especially Unifi Dynamic Asset Allocation Fund and Aditya Birla SL Balanced Advantage Fund. That said, the longer record is more competitive: its 3-year return is below Baroda BNP Paribas and Aditya Birla SL, but ahead of Bank of India, while its 5-year return is in line with the stronger group and above Aditya Birla SL’s 5-year figure by a small margin.

The short-term and long-term pictures are different. Recent returns look uneven, but the 3-year and 5-year numbers show a more durable compounding pattern. For an investor comparing these names, the key question is whether they want the stronger recent momentum seen in some peers or the steadier long-run record this fund has built over time.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	6.78%
Reliance Industries Ltd.	Crude Oil	4.42%
ICICI Bank Ltd.	Bank	3.82%
HDFC Bank Ltd.	Bank	3.57%
GAIL (India) Ltd.	Gas Transmission	2.56%
Larsen & Toubro Ltd.	Infrastructure	2.55%
Tech Mahindra Ltd.	IT	2.14%
364 Day T-Bill 04.03.27	Treasury Bills	1.98%
Indus Towers Ltd.	Telecom	1.95%
Axis Bank Ltd.	Bank	1.85%

The top 10 holdings account for approximately 31.62% of the portfolio.

To see all holdings, visit the SBI Balanced Advantage Fund Direct Growth Plan page

The largest disclosed position, TREPS, is 6.78%, so the fund begins with a meaningful cash-and-equivalents allocation rather than a single dominant equity bet. That can cushion day-to-day moves, although it can also dilute upside in strong equity rallies.

Weight then declines gradually across the next several holdings, from Reliance Industries at 4.42% to Axis Bank at 1.85%. The drop is noticeable but not abrupt, which suggests the portfolio is built around several moderate positions rather than one or two outsized exposures.

At 62 disclosed holdings, the structure appears reasonably broad, but the top 10 still make up about 31.62% of the portfolio. Our view is that this mix may give the fund a diversified base while still allowing the larger holdings to influence returns in a visible way.

Source data date: as of 16 Sep 2026

Who should invest

This fund is better suited to investors who can tolerate a High Risk profile and are comfortable with a hybrid strategy that may move around in the short run. The 1-year return has been modest, while the 3-year and 5-year figures show better compounding, so the investment case improves with a longer holding period.

It may appeal to investors who want exposure that can behave differently from the Nifty 50 and who accept that the path may be uneven. The main trade-off is simple: you are taking on equity-linked volatility and short-term softness in exchange for a more balanced profile that has worked better across longer windows than over the latest year.

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: Nil up to 10% of units and 1% for remaining units on or before 1 year; nil after 1 year.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of SBI Balanced Advantage Fund Direct Growth Plan?

The current NAV is ₹16.3264 as of 16 September 2026.

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

The 1-year, 3-year and 5-year returns are 1.56%, 9.18% and 9.99%.

How has the fund done versus Nifty 50?

It has done better than Nifty 50 over 1 year, 3 years and 5 years. The fund stayed positive over 1 year while the benchmark was negative, and it also stayed ahead over the longer windows.

How does it compare with peers on recent returns?

Its 1-year return is below some peers in this comparison set, while its 3-year and 5-year numbers sit in the more competitive part of the group. The short-term and long-term pictures are not the same.

Is there a minimum SIP amount?

No minimum SIP amount is stated in the available facts here, so we are not listing one.

Who manages the fund and what is the exit load?

The fund is managed by Dinesh Balachandran, Rajeev Radhakrishnan and Mansi Sajeja. The exit load is nil up to 10% of units and 1% for remaining units on or before 1 year, with nil exit load after 1 year.

Bottom line

SBI Balanced Advantage Fund Direct Growth Plan has a mixed recent record but a stronger longer-run shape, with 3-year and 5-year returns that are better than the benchmark. In the peer set, its recent return is less striking than some rivals, yet its longer-horizon performance remains competitive. The High Risk tag matters, as does the fact that the portfolio starts with a meaningful cash-and-equivalent position and then spreads across several moderate holdings. It looks more appropriate for investors with patience than for those seeking smooth short-term performance.

Published on 17 September 2026 at 11:23 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.