SBI Nifty India Consumption Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

SBI Nifty India Consumption Index Fund Direct Growth Plan is a High Risk index fund with a current NAV of ₹10.0137 as of 11 Sep 2026 and scheme AUM of ₹259 Cr. Its 1-year, 3-year and 5-year returns are -7.38%, 0% and 0%, so the short history is still thin and the fund has not yet built a long return track record.

Our view is that this fund suits investors who are comfortable with sharp swings and want a thematic consumption exposure rather than a broad market core. The portfolio is built around large consumer-facing businesses, but recent return behaviour has lagged the benchmark and the track record is still short.

Quick facts

Particular	Details
NAV	₹10.0137 as of 11 Sep 2026
AUM	₹259 Cr
Expense Ratio	0.4%
Launch Date	30 Oct 2024
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.25% on or before 15D, Nil after 15D
Fund Managers	Viral Chhadva

The fund is managed by Viral Chhadva.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.04%	-3.66%
3M	0.74%	-1.91%
1Y	-7.38%	-7.62%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Recent behaviour has been uneven. Over 1 month, the fund fell more than the benchmark, which points to a weaker short-term patch. Over 3 months, it turned positive while the benchmark remained negative, so the fund did better in the more recent recovery phase.

The 1-year return is still negative, but it is only slightly better than the benchmark. That tells us the fund has broadly tracked a difficult market backdrop rather than consistently outperforming it. For an index fund, that kind of small gap matters because it can show whether the strategy is holding up close to its reference index.

The time pattern also matters. The 1-year path includes several swings rather than a smooth climb, so this is not the sort of exposure that behaves like a steady defensive allocation. Our view is that the recent rebound does not yet change the longer story: the fund still needs more time in market conditions that can show whether its consumption tilt adds durability beyond brief recovery bursts.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD SBI Nifty India Consumption Index?

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 Nifty India Consumption Index Fund Direct Growth Plan	-7.38%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.23%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.22%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	26.18%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	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 performance, the fund trails the strongest peer returns by a wide margin, even though it is slightly ahead of the benchmark over the same horizon. That means the recent comparison is less about outperformance and more about whether the fund has simply stayed close to its reference line.

For 3-year and 5-year horizons, the comparison is limited because the fund and most peers do not yet have readable long-horizon figures. The one peer with a 3-year result shows a very different return profile, so the short-term gap is more useful here than any attempt to force a long-term comparison.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Bharti Airtel Ltd.	Telecom	9.4%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	8.59%
ITC Ltd.	FMCG	7.22%
Eternal Ltd.	Retailing	6.96%
Titan Company Ltd.	Diamond & Jewellery	6.18%
Maruti Suzuki India Ltd.	Automobile & Ancillaries	5.18%
Hindustan Unilever Ltd.	FMCG	5.12%
Bajaj Auto Ltd.	Automobile & Ancillaries	3.94%
Asian Paints Ltd.	Chemicals	3.52%
Interglobe Aviation Ltd.	Aviation	3.47%

The largest holding, Bharti Airtel Ltd., carries a 9.4% weight, so it can have greater influence on day-to-day portfolio movement than any single smaller position. The top 10 positions together account for 59.58% of the portfolio, which is meaningful but not extreme for a focused index strategy.

The weight drop from the largest holding to the tenth holding is noticeable, moving from 9.4% to 3.47%. That tells us the portfolio is not evenly spread across all names; the first few positions are likely to matter more than the tail when returns shift. At the same time, the decline is not so sharp that the portfolio depends on only one or two names.

There are 30 disclosed holdings in total, so the disclosed book has a longer tail beyond the top 10. Our view is that this creates a mix of concentration and breadth: the leading names are important, but the remaining holdings may still contribute to diversification across consumer-linked businesses.

To see all holdings, visit the SBI Nifty India Consumption Index Fund Direct Growth Plan page

Source data date: as of 11 Sep 2026

Who should invest

This fund is better suited to investors with high risk tolerance and a medium-to-long investment horizon. The return pattern has been uneven, with a weak 1-year number and a short 3-month recovery that still needs time to prove itself against broader market moves.

The main trade-off is that you gain focused exposure to India’s consumption theme, but you also accept sharper swings than a plain diversified core fund. Investors who want a narrow thematic tilt and can stay patient through periods of lag may find it more relevant than those seeking steadier index-like behaviour.

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 is 0.25% if units are sold on or before 15 days, and nil after 15 days.

Source data date: as of 11 Sep 2026

Frequently asked questions

What is the current NAV of SBI Nifty India Consumption Index Fund Direct Growth Plan?
The current NAV is ₹10.0137 as of 11 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is -7.38%, while the 3-year and 5-year returns are not available in a readable form yet.

How has the fund done versus the benchmark?
Over 1 year, the fund is slightly better than the benchmark, with -7.38% versus -7.62%. Over 1 month it lagged, while over 3 months it moved ahead.

How does the fund compare with the peer set on 1-year returns?
Its 1-year return is much lower than the stronger peer numbers in the comparison set, but it is slightly ahead of the benchmark. That makes the recent picture mixed rather than one-sided.

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 Viral Chhadva. The exit load is 0.25% if units are sold on or before 15 days, and nil after 15 days.

Bottom line

This fund’s recent performance is mixed: the 3-month stretch has been better than the benchmark, but the 1-year picture is still negative and only slightly better than the index. Compared with the peer set on available 1-year numbers, the fund trails clearly stronger return profiles, so the short-term story remains subdued.

The risk profile is High Risk, and the portfolio is concentrated enough in its leading names to matter, while still leaving room for a longer tail of holdings. That makes it more suitable for investors who want a thematic consumption exposure and can tolerate volatility rather than those seeking stable core returns.

Published on 15 September 2026 at 3:56 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.