SBI Dynamic Asset Allocation Active FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

SBI Dynamic Asset Allocation Active FoF Direct Growth Plan has a NAV of ₹10.2376 as of 15 Sep 2026 and scheme AUM of ₹2,328 Cr. Its 1-year, 3-year and 5-year returns are 2.38%, Data not available and Data not available, and the scheme sits in the High Risk category. Our view is that it looks better suited to investors who can accept a choppy journey and want a fund whose recent gain has been modest rather than strong, while its portfolio structure suggests a layered approach through other SBI funds.

It has stayed close to a defensive-to-balanced style in the recent period, but the trailing one-year result is still only slightly positive and below the benchmark’s negative 1-year reading. That makes it more appropriate for investors who can hold through uneven stretches and are evaluating it as part of a broader allocation rather than as a short-term return play.

Quick facts

Particular	Details
NAV	₹10.2376 as of 15 Sep 2026
AUM	₹2,328 Cr
Expense Ratio	0.29%
Launch Date	15 Sep 2025
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	Nil upto 25% of investments and 1% for remaining investments on or before 12M, Nil after 12M
Fund Managers	Nidhi Chawla, Ardhendu Bhattacharya

The fund is managed by Nidhi Chawla and Ardhendu Bhattacharya.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.24%	-4.41%
3M	1.03%	-3.60%
1Y	2.38%	-7.76%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent path has been mixed, but the fund has held up better than the benchmark in every available window. The 1-month return was negative, which tells us the near-term phase has not been smooth, yet the benchmark fell more sharply in the same period. The 3-month result turned positive while the benchmark remained negative, so the fund has shown a better short-run recovery than the index.

The one-year picture is more important here because the fund has only one full trailing year available. A 2.38% gain against the benchmark’s 7.76% fall indicates relative resilience, even if the absolute return is modest. That is consistent with a fund that may cushion some downside when markets are weak, but it has not yet shown a strong compounding profile over a longer disclosed history.

Because the scheme launched on 15 Sep 2025, longer-term trailing figures are not available yet. So our read is necessarily anchored to the first year of live history: the fund has been steadier than the benchmark, but the available record is still too short to treat that as a complete long-term pattern.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD SBI Dynamic Asset Allocation Active FoF?

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 Dynamic Asset Allocation Active FoF Direct Growth Plan	2.38%	Data not available	Data not available
SBI Silver ETF FOF Direct Growth Plan	76.71%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	75.91%	45.12%	Data not available
Axis Silver FoF Direct Growth Plan	74.42%	45.18%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	73.46%	Data not available	Data not available
Nippon India Silver ETF FOF Direct Growth Plan	72.65%	43.94%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s 1-year return is far below the peer group figures visible here, where the comparison set is dominated by silver-focused FoFs with much stronger recent gains. On the longer side, the available peer data also points to materially higher 3-year outcomes for the funds that have that history, while this scheme does not yet have a disclosed 3-year or 5-year record.

That creates two different stories: the fund has been comparatively steadier versus the benchmark in the recent year, but it has not participated in the kind of sharp upside seen in the peers shown here. For investors, that means the short-term relative defence is visible, but the available peer data does not yet support a case for strong long-horizon outperformance.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
SBI Medium Term Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	19.14%
SBI Focused Fund – Direct Plan -Growth Option	Domestic Mutual Funds Units	9.97%
SBI Large & Midcap Fund -Direct Plan -Growth Option	Domestic Mutual Funds Units	9.36%
SBI Medium to Long Term Fund-Direct Plan -Growth Option	Domestic Mutual Funds Units	8.94%
SBI Dynamic Term Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	7.25%
SBI Healthcare Opportunities Fund – Direct Plan -Growth Option	Domestic Mutual Funds Units	6.27%
SBI Banking & Financial Services Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	5.51%
SBI Consumption Opportunities Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	5.37%
SBI Innovative Opportunities Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	5.25%
SBI Automotive Opportunities Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	5.14%

The top 10 holdings account for approximately 82.2% of the portfolio.

To see all holdings, visit the SBI Dynamic Asset Allocation Active FoF Direct Growth Plan page

The largest holding is SBI Medium Term Fund – Direct Plan – Growth Option at 19.14%, which is large enough to be the main single driver among the disclosed positions. After that, weights step down fairly quickly into the 9% to 5% range, so the portfolio is not dependent on one position alone, but the largest allocation still matters noticeably.

What stands out more is the shape of the rest of the list. The 10th holding is still 5.14%, which means the disclosed top slice remains meaningful all the way down the table. With 14 holdings disclosed and 82.2% of the portfolio covered by the top 10, the structure looks moderately concentrated in a set of underlying SBI funds rather than widely spread across many small positions.

That setup may help the fund express a clear asset-allocation view through a core basket of other schemes, but it also means changes in a few underlying holdings could have greater influence on outcomes than in a more diffuse structure.

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors with a higher tolerance for volatility and a horizon long enough to let an asset-allocation approach work through different market phases. The High Risk label matters here because the current return history is short and uneven, with a modest positive 1-year result after a weaker patch in the recent month.

The main trade-off is that the fund may help temper swings relative to a broad equity benchmark in weak phases, but it has not yet built a long trailing record that shows sustained compounding. It is more appropriate for investors who are comfortable with uncertainty, want a fund-of-funds structure, and can hold through periods when returns lag stronger peer categories.

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	12.50%	Long-term capital gains tax

Exit load applies as nil up to 25% of investments and 1% for the remaining investments on or before 12 months. No exit load applies after 12 months.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of SBI Dynamic Asset Allocation Active FoF Direct Growth Plan?
The current NAV is ₹10.2376 as of 15 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The 1-year return is 2.38%. The 3-year and 5-year returns are Data not available.

How has the fund performed versus the benchmark?
The fund has done better than Nifty 50 in each available window. It returned -2.24% in 1 month, 1.03% in 3 months and 2.38% in 1 year, while the benchmark returned -4.41%, -3.60% and -7.76% respectively.

How does it compare with the peer funds shown here?
The fund’s 1-year return is much lower than the peer funds listed here, several of which show 70%+ 1-year gains. The peer set with available longer history also shows much stronger 3-year figures than this scheme’s current history.

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 Nidhi Chawla and Ardhendu Bhattacharya. Exit load is nil up to 25% of investments and 1% for the remaining investments on or before 12 months, and there is no exit load after 12 months.

Bottom line

SBI Dynamic Asset Allocation Active FoF Direct Growth Plan has a mixed early record: recent returns are positive over 1 year and better than the benchmark across the visible windows, but they are still modest beside the much stronger peer figures shown here. The portfolio is fairly concentrated in a handful of underlying SBI funds, with the largest position carrying notable weight. That makes it a better fit for higher-risk investors who want a fund-of-funds structure and can accept that longer-term proof is still limited.

Published on 17 September 2026 at 11:25 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.