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

SBI CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan has a NAV of ₹10.2828 as of 16 Sep 2026 and an AUM of ₹1,096 Cr. Its 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available, and the scheme carries a Balanced Risk label. Our view is that this is a short-duration debt index fund that looks more suited to investors who want a focused fixed-income allocation than those seeking visible return history.

The fund is new, launched on 21 Apr 2026, so the absence of long trailing data is a key part of the assessment. The portfolio is built around financial-services debt instruments and CDs, which can make it relatively focused even within the debt space.

Quick facts

Particular	Details
NAV	₹10.2828 as of 16 Sep 2026
AUM	₹1,096 Cr
Expense Ratio	0.0%
Launch Date	21 Apr 2026
Min SIP	₹500
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Rajeev Radhakrishnan, Ranjana Gupta, Sankalp Jain

The fund is managed by Rajeev Radhakrishnan, Ranjana Gupta and Sankalp Jain.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.5%	-4.41%
3M	1.84%	-3.6%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Near-term behaviour has been steadier than the benchmark. Over 1 month and 3 months, the fund has shown small positive returns while the benchmark has been negative, which suggests the fund has held up better in the recent period.

That said, this should be read with caution because the scheme only launched in April 2026. The lack of 1-year, 3-year and 5-year history means we cannot judge how it behaves across a full rate cycle or through prolonged stress.

The recent pattern also looks mild rather than dramatic, with the fund’s curve staying close to flat and then edging up. For a short-duration debt index strategy, that kind of movement points to controlled volatility rather than sharp swings, but it does not yet provide enough history to judge consistency.

Against the benchmark, the current picture is clearly better in the short run. The benchmark’s negative recent numbers imply that the fund has not merely preserved value better; it has also delivered modest positive movement while the comparison line weakened.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD SBI 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
SBI 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.

The peer set shows a very different pattern from this fund because the comparable schemes have visible 1-year and, in some cases, 3-year histories, while this fund does not yet have a meaningful trailing record. That means the current fund cannot be judged on a like-for-like return basis against the better-established names.

Where data is available, the peer returns are materially higher over 1 year and 3 years than the limited recent numbers available for this fund. The comparison therefore says more about maturity of track record than about a simple performance gap. In our view, the short listing of peers with available returns suggests this scheme still needs time before a fuller relative assessment is possible.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
REC Ltd.	Corporate Debt	11.41%
Small Industries Development Bank of India	Certificate of Deposit	9.9%
LIC Housing Finance Ltd.	Corporate Debt	9.12%
Canara Bank	Certificate of Deposit	9.08%
Bank of Baroda	Certificate of Deposit	8.98%
HDFC Bank Ltd.	Certificate of Deposit	8.98%
Bharti Telecom Ltd.	Corporate Debt	6.86%
HDB Financial Services Ltd.	Corporate Debt	4.57%
ICICI Securities Ltd.	Commercial Paper	4.52%
Tata Capital Ltd.	Commercial Paper	4.5%

The largest holding, REC Ltd., accounts for 11.41% of the portfolio, which gives it the single biggest influence among the disclosed positions. The weight then tapers fairly gradually, with the tenth holding at 4.5%, so the top names do not fall off a cliff after the first few positions.

The top ten holdings together account for 77.92% of the portfolio, and the scheme has 20 disclosed holdings in total. That combination suggests a portfolio that is concentrated in a relatively small set of positions, while still leaving room for a longer tail beyond the displayed holdings.

Because the mix includes corporate debt, certificates of deposit and commercial paper, the portfolio may be designed to keep maturity and credit exposure aligned with its short-dated index mandate. Even so, the heavy share in the leading positions means the biggest names are likely to have greater influence on day-to-day movement than the tail holdings.

To see all holdings, visit the SBI 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 are comfortable with a debt-oriented allocation and can accept that the scheme is still very new. Its Balanced Risk label points to a moderate risk stance, but the lack of a longer return history means the real test will be how it behaves beyond the first few months.

It appears most appropriate for a short- to medium-term horizon where the investor values stability more than high upside. The main trade-off is that the fund’s recent short-run resilience looks better than the benchmark, but there is not yet enough history to rely on that pattern across different market conditions.

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 SBI CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Plan?
The current NAV is ₹10.2828 as of 16 Sep 2026.

What are the recent returns of this fund?
Its 1-year, 3-year and 5-year returns are Data not available because the scheme was launched on 21 Apr 2026.

How has the fund performed versus the benchmark recently?
Over 1 month and 3 months, the fund has been positive while the benchmark has been negative, so the fund has held up better in the short run.

How does this fund compare with peer schemes on available return data?
The peer schemes with available trailing data show much higher 1-year and 3-year returns than this fund’s limited recent record. That comparison is not fully like-for-like because this fund is much newer.

Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?
The fund is managed by Rajeev Radhakrishnan, Ranjana Gupta and Sankalp Jain. The exit load is no exit load.

Bottom line

This is a newly launched debt index fund, so the key story is not a long return track record but the early pattern of relatively steady recent movement. Short-term performance has been better than the benchmark, while the longer-horizon figures are not yet available. Compared with the listed peers, it does not yet offer a mature record for direct comparison. The portfolio is fairly concentrated in its largest positions, which may matter for investors who want visibility on where the scheme is leaning.

Published on 17 September 2026 at 4:40 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.