SBI CRISIL IBX Gilt Index - June 2036 Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

SBI CRISIL IBX Gilt Index – June 2036 Fund Direct Growth Plan has a NAV of ₹13.4831 as of 16 Sep 2026 and an AUM of ₹2,616 Cr. Its 1-year, 3-year and 5-year returns are 4.17%, 7.39% and 0%, and the scheme sits in the Medium Risk bucket.

Our view is that this is a relatively focused gilt index strategy for investors who want long-dated government bond exposure and can accept modest return variability. The fund’s portfolio is dominated by a single gilt security, so its behaviour is likely to reflect interest-rate movements more than diversified credit or equity-style growth drivers.

Quick facts

Particular	Details
NAV	₹13.4831 as of 16 Sep 2026
AUM	₹2,616 Cr
Expense Ratio	0.28%
Launch Date	04 Oct 2022
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.15% on or before 30D, Nil after 30D
Fund Managers	Ranjana Gupta

The fund is managed by Ranjana Gupta.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.04%	-4.41%
3M	0.44%	-3.60%
1Y	4.17%	-7.76%
3Y	7.39%	5.74%
5Y	Data not available	Data not available

Recent numbers show a better short-term tone than the benchmark. The fund was down over 1 month, but the benchmark fell more sharply, and the 3-month figure also stayed positive while the benchmark remained negative. That tells us the strategy has held up better than the reference index in the latest stretch.

The 1-year return of 4.17% is also ahead of the benchmark’s -7.76%, which is a clear divergence. Even so, the path has not been smooth; the daily pattern in the fund’s recent history suggests intermittent pullbacks rather than a straight line higher.

Over 3 years, the fund’s 7.39% return is above the benchmark’s 5.74%, so the longer window still favours the scheme. The important nuance is that the advantage is not driven by a uniformly strong recent rally; rather, it has come from steadier compounding through a period when the benchmark was weaker. The 5-year figure is not available, so we avoid drawing a long-cycle conclusion beyond the disclosed horizon.

For investors, this looks more like a rate-sensitive debt allocation than a return-seeking growth engine. The fund has outpaced the benchmark across the available horizons, but the gap is modest in the longer window and the near-term pattern still shows some fluctuation.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD SBI CRISIL IBX Gilt Index – June 2036?

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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
SBI CRISIL IBX Gilt Index – June 2036 Fund Direct Growth Plan	4.17%	7.39%	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 return figures, the fund’s 1-year result is far below the equity-oriented peers listed here, while its own 3-year outcome is also much lower than the stronger 3-year peer results that are available. That comparison is not a flaw in the fund’s design; it reflects that gilt exposure is being compared here with funds from very different market segments. The short-term and longer-term views therefore tell different stories, with this fund appearing steadier than the benchmark but much less return-heavy than the peer set shown.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.54% CGL 2036	Government Securities	96.33%
Net Receivable / Payable	Cash & Cash Equivalents and Net Assets	1.89%
TREPS	Cash & Cash Equivalents and Net Assets	1.78%

The largest holding is 7.54% CGL 2036 at 96.33%, which is extremely dominant in the disclosed portfolio. That means the fund’s day-to-day movement may be shaped mainly by this single government security, with the two cash-like lines playing a much smaller supporting role.

The weight then falls sharply from the main gilt exposure to net receivable/payable at 1.89% and TREPS at 1.78%. With only three disclosed holdings in total, the portfolio is not spread across a long tail of positions; it is intentionally concentrated around one bond and a small liquidity buffer.

Because the top disclosed holding already accounts for almost the entire portfolio, the structure may be more sensitive to interest-rate changes than a broadly diversified debt fund. That concentration can help keep the index linkage clear, but it also means there is limited offset from other positions if the main security moves sharply.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with Medium Risk and who want government-bond exposure with a clear maturity-linked structure. It is more appropriate for a medium- to longer-horizon allocation than for very short-term parking, because the return pattern has been positive over 1 year and 3 years but not smooth enough to treat it like a cash substitute.

The main trade-off is between relative stability in sovereign credit exposure and the possibility of rate-driven fluctuations in NAV. Investors who want a debt allocation anchored to government securities may find that useful, while those looking for stronger return momentum may prefer a different type of fund. The benchmark comparison and the concentrated bond holding both point to a strategy where preservation of the gilt framework matters more than chasing high 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

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 SBI CRISIL IBX Gilt Index – June 2036 Fund Direct Growth Plan?
The current NAV is ₹13.4831 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 4.17% and the 3-year return is 7.39%. The 5-year return is not available in the disclosed history.

How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 month, 3 months, 1 year and 3 years on the available figures. The benchmark has been weaker over the shorter windows and also trails the fund over 3 years.

How does it compare with the peer funds shown here?
Its 1-year return is much lower than the listed equity-oriented peer funds, while its 3-year return is also lower than the stronger 3-year peer numbers that are available. The comparison is best read as a difference in strategy rather than a simple quality gap.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

Who manages the fund, and what is the exit load?
The fund is managed by Ranjana Gupta. The exit load is 0.15% on or before 30 days and nil after 30 days.

Bottom line

This fund’s recent behaviour is steadier than the benchmark, and its 1-year and 3-year returns remain ahead of the reference index on the available figures. At the same time, the peer set shown here is much stronger on raw return numbers because those funds belong to different market segments. The portfolio is highly concentrated in one government security, so the scheme is best viewed as a focused gilt allocation with Medium Risk rather than a broad debt diversifier.

Published on 17 September 2026 at 5:04 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.