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

SBI Equity Savings Fund Direct Growth Plan has a NAV of ₹27.4411 as of 10 Sep 2026 and an AUM of ₹5,485 Cr. Its 1-year, 3-year and 5-year returns are 3.46%, 7.91% and 8.23%, and the fund is in the Medium Risk category. Our view is that it suits investors who want a hybrid allocation with relatively steady long-term compounding rather than a sharp equity-style surge.

The fund’s return profile has been more stable over longer periods than in the recent year, and its portfolio mixes large-bank exposure with some debt and cash holdings. That combination may appeal to conservative investors who can accept moderate equity participation in exchange for lower volatility than a pure equity fund.

Quick facts

Particular	Details
NAV	₹27.4411 as of 10 Sep 2026
AUM	₹5,485 Cr
Expense Ratio	0.98%
Launch Date	27 May 2015
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	0.10% on or before 15D, Nil after 15D
Fund Managers	Nidhi Chawla, Mohit Jain, Neeraj Kumar, Vandna Soni

The fund is managed by Nidhi Chawla, Mohit Jain, Neeraj Kumar and Vandna Soni.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.32%	-4.06%
3M	1.59%	1.37%
1Y	3.46%	-7.31%
3Y	7.91%	6.07%
5Y	8.23%	5.91%

The one-month reading is slightly negative, but it is still less weak than the benchmark. That tells us the fund has been comparatively resilient in a soft patch, even though it has not delivered a strong burst of short-term upside.

The three-month figure is positive and just ahead of the benchmark, which suggests the recent trend has been steadier than the market reference. The 1-year comparison is more telling: the fund has stayed positive while the benchmark has been negative, so the scheme has provided a materially smoother recent outcome than Nifty 50.

Over 3 years and 5 years, the fund continues to stay ahead of the benchmark, but the margin is not dramatic. Our read is that this is a consistent, moderate compounding profile rather than a high-octane return engine. The pattern through the longer time periods also looks less jagged than the benchmark, which fits an equity-savings structure that is designed to dampen swings while still participating in market gains.

What stands out is the difference between the recent year and the long run. The fund has not accelerated sharply, yet it has preserved a positive track record and maintained an edge over the benchmark across every period shown. For a hybrid strategy, that kind of steadiness can matter more than a single strong quarter.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD SBI Equity Savings?

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 Equity Savings Fund Direct Growth Plan	3.46%	7.91%	8.23%
Edelweiss Equity Savings Fund Direct Growth Plan	8.49%	11.44%	9.76%
HSBC Equity Savings Fund Direct Growth Plan	8.33%	12.82%	11.09%
WOC Equity Savings Fund Direct Growth Plan	7.61%	Data not available	Data not available
Mahindra Manulife Equity Savings Fund Direct Growth Plan	7.05%	9.37%	8.93%
Capitalmind Flexi Cap Fund Direct Growth Plan	6.1%	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 returns, the fund trails the peer group names shown here, with Edelweiss Equity Savings Fund Direct Growth Plan and HSBC Equity Savings Fund Direct Growth Plan both higher. The gap is smaller over 3 years and 5 years than it is over 1 year, which suggests the fund has kept pace better over longer holding periods than it has in the latest annual stretch.

The longer-term comparison points to a mixed picture. HSBC Equity Savings Fund Direct Growth Plan leads on both 3-year and 5-year returns among the peers with available numbers, while SBI Equity Savings Fund Direct Growth Plan remains above the benchmark over the same horizons. That means the scheme looks steadier than the index, but not as strong as the best peer numbers in this peer set.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Kotak Mahindra Bank Ltd.	Bank	6.68%
HDFC Bank Ltd.	Bank	5.73%
Reliance Industries Ltd.	Crude Oil	5.35%
ICICI Bank Ltd.	Bank	4.99%
Bharti Airtel Ltd.	Telecom	3.64%
SBI Liquid Fund – Direct Plan -Growth Option	Domestic Mutual Funds Units	2.87%
Net Receivable / Payable	Cash & Cash Equivalents and Net Assets	2.82%
TREPS	Cash & Cash Equivalents and Net Assets	2.63%
Life Insurance Corporation of India	Insurance	2.39%
7.10% CGL 2034	Government Securities	2.31%

The top 10 holdings account for approximately 39.41% of the portfolio.

To see all holdings, visit the SBI Equity Savings Fund Direct Growth Plan page

The largest holding, Kotak Mahindra Bank Ltd., is 6.68%, so no single position dominates the portfolio on its own. The drop from the first holding to the tenth is fairly gradual, which suggests that the disclosed slice is spread across several positions rather than concentrated in one or two names.

That said, the first four holdings are all meaningful positions, and the top 10 together account for 39.41% of the portfolio. With 53 disclosed holdings overall, the fund appears to pair a core set of larger positions with a longer tail of smaller exposures, which may help balance stock-specific risk while still leaving the largest holdings likely to influence returns more than the smaller ones.

This structure also fits the hybrid category well. The list includes banks, telecom, cash equivalents, a liquid fund and government securities, so the fund may be using multiple building blocks rather than relying only on equity exposure.

Source data date: as of 10 Sep 2026

Who should invest

This fund may suit investors with a moderate risk tolerance who want some equity participation but also value a smoother path than a pure equity fund. The Medium Risk label and the portfolio mix suggest that it is built for balance rather than aggressive upside.

A longer horizon makes more sense here, because the 3-year and 5-year returns show the fund’s steadier side more clearly than the 1-year number alone. Investors who can stay invested through quieter short-term phases may find the trade-off easier to accept.

The main trade-off is that the fund has stayed ahead of the benchmark across the periods shown, but its recent 1-year return is still modest compared with some peers. In other words, the fund offers a more measured return profile, and that may appeal more to investors who prioritise consistency over chasing the highest short-term figure.

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: 0.10% on or before 15D, Nil after 15D.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of SBI Equity Savings Fund Direct Growth Plan?
The current NAV is ₹27.4411 as of 10 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 3.46% over 1 year, 7.91% over 3 years and 8.23% over 5 years.

How does the fund compare with Nifty 50?
It has stayed ahead of Nifty 50 across 1-year, 3-year and 5-year periods. The benchmark numbers are -7.31%, 6.07% and 5.91% for those same horizons.

How does it compare with peer funds on recent performance?
Its 1-year return is below the stronger peer figures shown here, including Edelweiss Equity Savings Fund Direct Growth Plan at 8.49% and HSBC Equity Savings Fund Direct Growth Plan at 8.33%. The longer-term gap is smaller.

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, Mohit Jain, Neeraj Kumar and Vandna Soni. The exit load is 0.10% on or before 15D, and Nil after 15D.

Bottom line

SBI Equity Savings Fund Direct Growth Plan looks like a steadier hybrid option rather than a high-growth surprise generator. Its recent 1-year return is softer than several peers, but its 3-year and 5-year numbers show better continuity, and it has stayed ahead of the benchmark across all the periods shown. The portfolio is built around a handful of larger positions, led by Kotak Mahindra Bank Ltd., while still leaving room for a broader tail of holdings. That mix may suit investors who want moderate-risk exposure and can stay patient for the longer run.

Published on 11 September 2026 at 5:40 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.