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

SBI Energy Opportunities Fund Direct Growth Plan had a NAV of ₹11.0504 as of 17 Sep 2026 and an AUM of ₹8,326 Cr. Its 1-year, 3-year and 5-year returns are 3.04%, 0% and 0%, and it sits in the High Risk category. Our view is that this is a sector-focused equity fund whose recent return pattern has been uneven, while the portfolio remains tilted toward energy-linked and allied industrial names.

The fund has outpaced the benchmark over 1 year, but the shorter 3-month and 1-month readings have been weak, which points to higher near-term volatility. That mix can suit investors who can tolerate sharp swings and want category exposure tied to the energy opportunity set rather than steadier market-like behaviour.

Quick facts

Particular	Details
NAV	₹11.0504 as of 17 Sep 2026
AUM	₹8,326 Cr
Expense Ratio	0.79%
Launch Date	26 Feb 2024
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 1Y, Nil after 1Y
Fund Managers	Raj Gandhi

The fund is managed by Raj Gandhi.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.7%	-3.66%
3M	-5.74%	-3.71%
1Y	3.04%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The 1-year return stands out because it is positive while the benchmark is negative over the same period. That tells us the fund has recently handled the broader market backdrop better than the Nifty 50, even though the margin is not large enough to suggest a smooth ride.

The shorter periods look weaker. The 3-month return is more negative than the benchmark, and the 1-month return is also slightly worse, which tells us the recent path has been choppy rather than steadily improving.

Because the fund launched in February 2024, the 3-year and 5-year return fields are not available yet. That matters for interpretation: we can see how the fund has behaved in the near term, but we do not yet have a full multi-year compounding record to test whether the 1-year strength can be sustained.

Looking at the movement pattern, the fund appears to have recovered through parts of the year and then given back some gains in the more recent window. For an equity strategy in a high-risk segment, that kind of fluctuation is not unusual, but it does mean investors should focus on whether they can stay invested through periods when returns turn uneven.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD SBI Energy Opportunities?

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 Energy Opportunities Fund Direct Growth Plan	3.04%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.8%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On 1-year numbers, the fund trails all five peer examples by a wide margin, with the peers showing much stronger gains in the same window. That contrast is important because it suggests the fund’s recent positive year has been modest relative to other thematic and sector-oriented options in the peer set.

For longer periods, only one peer in the table has a usable 3-year figure, and that peer is well ahead on a 3-year basis too. The current fund does not yet have a 3-year or 5-year track record of its own, so the comparison here leans heavily toward the short end. In practical terms, the peer table tells a mixed story: the fund has beaten the broad benchmark over 1 year, but it has not matched the stronger 1-year outcomes visible among the peer names listed here.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Reliance Industries Ltd.	Crude Oil	9.12%
GAIL (India) Ltd.	Gas Transmission	7.98%
Oil & Natural Gas Corporation Ltd.	Crude Oil	6.77%
Kalpataru Projects International Ltd.	Infrastructure	5.71%
Gujarat Energy Ltd.	Gas Transmission	5.59%
Petronet LNG Ltd.	Inds. Gases & Fuels	4.77%
Bharat Petroleum Corporation Ltd.	Crude Oil	4.73%
NTPC Ltd.	Power	4.42%
Heg Ltd.	Capital Goods	4.21%
Thermax Ltd.	Capital Goods	4.14%

The largest holding is Reliance Industries Ltd. at 9.12%, which is large enough to matter for returns but not so dominant that one position entirely defines the fund. The tenth holding, Thermax Ltd. at 4.14%, is less than half the size of the first, so the portfolio does taper off meaningfully from the top.

The top 10 holdings together account for 57.44% of the portfolio, which suggests a fairly concentrated core with a long tail beyond the disclosed names. Since the fund discloses 30 holdings in total, there is still scope for other positions to influence results, but the visible structure is clearly anchored by a relatively small group of energy, utility and infrastructure-related companies.

That concentration may help the fund express its energy theme more clearly, but it could also increase sensitivity to sector cycles and stock-specific moves. For investors, the key point is that this is not a broadly diversified market-fund style portfolio; it is more focused and may therefore behave differently from a general equity scheme.

To see all holdings, visit the SBI Energy Opportunities Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and can stay invested through uneven periods. The 1-year result is positive and better than the benchmark, but the weaker 1-month and 3-month numbers show that the path can be volatile.

It is more appropriate for a medium- to long-term horizon than for short-term money. The main trade-off is that the fund offers focused participation in an energy-led theme, but that focus can also lead to larger swings than a diversified equity fund.

Because the 3-year and 5-year records are not yet available, investors need to accept limited history in exchange for a newer theme-oriented strategy. That makes patience and risk tolerance more important than headline returns alone.

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: 1% if units are sold within 1 year; no exit load after 1 year.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of SBI Energy Opportunities Fund Direct Growth Plan?
The NAV is ₹11.0504 as of 17 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The 1-year return is 3.04%. The 3-year and 5-year returns are not available yet.

How has the fund done versus Nifty 50?
The fund has done better over 1 year, with 3.04% compared with the benchmark's -7.13%. Over 3 months and 1 month, the fund has been slightly weaker than the benchmark.

How does it compare with peer funds on 1-year performance?
The fund's 1-year return is lower than the peer examples listed here, while one peer also shows a stronger 3-year figure.

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

What are the risk profile, portfolio style and exit load?
The fund is in the High Risk category. Its holdings are led by Reliance Industries Ltd. at 9.12%, and the exit load is 1% within 1 year and nil after 1 year.

Bottom line

This fund’s recent picture is mixed: it has posted a positive 1-year return and beaten the benchmark, but the shorter 1-month and 3-month readings are weaker. On the available peer return data, it trails the peer examples on 1-year performance, so the fund has not matched the strongest recent outcomes in its peer set. Its High Risk profile and concentrated energy-linked portfolio make it better suited to investors who can tolerate volatility and are comfortable with a focused thematic approach.

Published on 18 September 2026 at 12:46 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.