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

SBI Innovative Opportunities Fund Direct Growth Plan has a NAV of ₹10.9066 as of 10 Sep 2026 and an AUM of ₹5,493 Cr. Its 1-year, 3-year and 5-year returns are 8.75%, 0% and 0%, and the fund is tagged as High Risk.

Our view is that the fund looks suitable for investors who can tolerate uneven short-term outcomes in exchange for a differentiated equity strategy. The recent return pattern is mixed versus the benchmark, but the portfolio remains concentrated enough that stock selection is likely to matter a lot.

Quick facts

Particular	Details
NAV	₹10.9066 as of 10 Sep 2026
AUM	₹5,493 Cr
Expense Ratio	0.89%
Launch Date	20 Aug 2024
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 30D, Nil after 30D
Fund Managers	Vivek Gedda

The fund is managed by Vivek Gedda.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.78%	-4.06%
3M	19.52%	1.37%
1Y	8.75%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The most recent three months stand out more than the one-year figure. The fund has moved ahead of the benchmark over 1 month, 3 months and 1 year, while the benchmark has been negative over 1 month and 1 year. That tells us the strategy has recently been more resilient than the Nifty 50, even though the 1-year gain is not especially strong for an equity fund.

The path has not been smooth. The monthly pattern shows periods of advance interspersed with pullbacks, so the fund has not behaved like a steady compounding vehicle in the short run. For a fund with a High Risk tag, that is not unusual, but it does mean investors should expect variability rather than a straight line of gains.

We also note that there is no 3-year or 5-year return history in the current figures, so the longer lens is still developing. For now, the better short-term relative showing matters more than any claim about enduring compounding, and the available history is too short to treat the recent momentum as permanent.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD SBI Innovative 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.

Already holding SBI Innovative Opportunities? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
SBI Innovative Opportunities Fund Direct Growth Plan	8.75%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	73.94%	37.12%	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	29.94%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	29.26%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	28.3%	Data not available	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	27.13%	Data not available	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 strongest peer figures shown here, even though its benchmark comparison is more favourable than the benchmark itself. That creates a split picture: the fund has recently beaten the index, but it has not matched the stronger short-term gains posted by several peers.

Because the 3-year and 5-year fields are unavailable for the current fund, the longer comparison is incomplete. Among peers, one fund already shows a strong 3-year record, while the others mainly provide only 1-year figures, so the short-term comparison carries more weight than a long-term league-table reading.

That makes the peer set useful mainly as a reference point for return dispersion. It shows that this strategy has room to improve against the better short-term numbers in the group, even though its recent result is still comfortably ahead of the benchmark.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eternal Ltd.	Retailing	8.66%
Tbo Tek Ltd.	Hospitality	6.41%
TREPS	Cash & Cash Equivalents and Net Assets	5.29%
Divi'S Laboratories Ltd.	Healthcare	5.17%
Ather Energy Ltd.	Domestic Equities	5.16%
FSN E-Commerce Ventures Ltd.	Retailing	5.09%
Bajaj Finance Ltd.	Finance	4.81%
Meesho Ltd.	Retailing	4.45%
Blackbuck Ltd.	Logistics	4.32%
Sun Pharmaceutical Industries Ltd.	Healthcare	3.61%

The largest disclosed holding is Eternal Ltd. at 8.66%, which is meaningful but not overwhelming on its own. The weight then steps down gradually, with the tenth holding still at 3.61%, so the portfolio does not rely on a single outsized position to shape outcomes.

The top 10 holdings together account for approximately 52.97% of the portfolio, and the fund discloses 35 holdings in total. That combination suggests a portfolio that is fairly diversified across a long tail, while still leaving enough weight in the leading names for stock selection to matter.

Because the displayed positions cover just over half of the portfolio, the remaining holdings can still influence returns, but the disclosed core is large enough to show where the main active bets sit. The mix of retailing, healthcare, finance, logistics and cash-like exposure also points to a strategy that spreads risk across different business models rather than concentrating in one narrow pocket of the market.

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

Source data date: as of 10 Sep 2026

Who should invest

This fund fits investors who can handle High Risk volatility and who are comfortable with a shorter track record. The 1-year return has been positive, but the absence of 3-year and 5-year return history means the longer compounding picture is still limited.

It may suit a medium- to long-term horizon, especially for investors who want an equity strategy that is not tied closely to the benchmark’s recent pattern. The main trade-off is that the fund’s differentiated portfolio can create sharper ups and downs, so patience matters more than with a steadier large-cap style fund.

Investors who need a smooth ride or a mature return history may find the fit less compelling. Those who can accept uneven periods in exchange for the chance of stronger stock-specific outcomes may find the structure more relevant.

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% on or before 30 days; nil after 30 days.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of SBI Innovative Opportunities Fund Direct Growth Plan?

The current NAV is ₹10.9066 as of 10 Sep 2026.

What are the 1-year, 3-year and 5-year returns?

The 1-year return is 8.75%, while the 3-year and 5-year returns are Data not available.

How has the fund performed against the benchmark?

It has done better than the Nifty 50 in the 1-month, 3-month and 1-year periods shown. The benchmark is negative over 1 month and 1 year, while the fund is positive in those periods.

How does it compare with peer funds on recent returns?

Its 1-year return of 8.75% is below the stronger peer figures shown, including 73.94%, 29.94%, 29.26%, 28.3% and 27.13%.

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 Vivek Gedda. The exit load is 1% on or before 30 days and nil after 30 days.

Bottom line

SBI Innovative Opportunities Fund Direct Growth Plan has shown a better recent pattern than the benchmark, but its longer-term return picture is still incomplete. Compared with peers on the available figures, its 1-year return trails the stronger short-term numbers, which means the fund is not currently leading on recent performance. The High Risk tag and the concentrated-but-not-overloaded portfolio suggest a strategy that may reward patience, but only for investors comfortable with uneven outcomes and a still-developing track record.

Published on 11 September 2026 at 4:06 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.