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

SBI Nifty IT Index Fund Direct Growth Plan is a sector index fund with a NAV of ₹7.485 as of 15 Sep 2026 and scheme AUM of ₹135 Cr. Its 1-year, 3-year and 5-year returns are -18.22%, 0% and 0%, while the risk label is High Risk. Our view is that this is a focused, volatile IT allocation that may suit investors who can tolerate sharp swings and are looking for a sector-specific exposure rather than broad market diversification.

The fund has moved unevenly over the last year, and its return pattern has not matched the benchmark’s recent trend. That makes the case less about near-term consistency and more about whether an investor wants dedicated IT-sector participation through a direct-growth index structure.

Quick facts

Particular	Details
NAV	₹7.485 as of 15 Sep 2026
AUM	₹135 Cr
Expense Ratio	0.31%
Launch Date	21 Feb 2025
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 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.1%	-4.81%
3M	3.6%	-3.63%
1Y	-18.22%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is mixed. Over 1 month, the fund fell less than the benchmark, which suggests the latest drawdown was milder than the broader comparison set. Over 3 months, however, the fund recovered while the benchmark stayed weaker, so the fund has shown a stronger short-term rebound.

The 1-year result is the main weak spot. The fund is still behind the benchmark over that period, and the gap is wide enough to show that sector exposure has not yet translated into stable compounding across a full year. For an index fund, that matters because investors usually expect the underlying segment to carry most of the performance story; here, the segment itself has been under pressure.

The time pattern also suggests a stop-start path rather than a smooth climb. There has been recovery in the more recent stretch, but that recovery sits inside a broader year of weakness. Our view is that this makes the fund more suitable for investors who can hold through sector cycles and are comfortable with performance that may look very different from a broad-market benchmark in the short run.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD SBI Nifty IT 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 IT Index Fund Direct Growth Plan	-18.22%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.71%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.15%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.11%	18.92%	Data not available

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

The current fund’s 1-year return is below every peer listed here, which shows that its recent stretch has been much weaker than the other sector-focused index funds in the comparison set. The short-term comparison therefore points to a clear lag in momentum, even though its 3-month move was better than the benchmark.

Because 3-year and 5-year figures are not available for the current fund or most peers, the comparison is really a short-horizon story rather than a full-cycle one. The one peer with a 3-year figure has also shown strong medium-term compounding, which highlights how different the return profiles can be across these sector funds. That makes the fund look more cyclical than the stronger peer examples shown here.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Infosys Ltd.	IT	28.91%
Tata Consultancy Services Ltd.	IT	20.29%
HCL Technologies Ltd.	IT	11.46%
Tech Mahindra Ltd.	IT	10.54%
Coforge Ltd.	IT	7.04%
Persistent Systems Ltd.	IT	6.2%
Wipro Ltd.	IT	5.09%
LTM Ltd.	IT	4.3%
Mphasis Ltd.	IT	3.28%
Oracle Financial Services Software Ltd.	IT	3.05%

The largest holding, Infosys Ltd., carries a weight of 28.91%, which means one stock is likely to have a strong influence on the fund’s day-to-day movement. That is typical of a narrow sector index, but it also means the fund can move sharply if the largest names in the basket are volatile.

There is a noticeable drop from the first holding to the rest of the portfolio. The top two positions together account for nearly half the disclosed basket, while the tenth holding is down to 3.05%, so the weight profile becomes steadily smaller as you move down the list. That pattern suggests the portfolio is not evenly spread across names.

Because the top 10 holdings account for approximately 100% of the portfolio and the disclosed list contains 10 holdings, the exposure is very concentrated in a single sector and within a small set of stocks. That concentration could help the fund track IT-sector moves closely, but it also means it may amplify sector-specific ups and downs.

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors who can handle High Risk exposure and are comfortable with a sector-specific return pattern that may differ sharply from a broad-market comparison. A longer investment horizon is more sensible here, because the 1-year result has been weak even though the shorter 3-month stretch improved.

It may appeal to someone who already has diversified core holdings and wants a focused IT allocation through an index structure. The main trade-off is concentration: the fund offers direct participation in the IT segment, but that same focus can create larger swings and periods of underperformance when the sector is out of favour.

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: 0.25% on or before 15D, Nil after 15D.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of SBI Nifty IT Index Fund Direct Growth Plan?

The current NAV is ₹7.485 as of 15 Sep 2026.

How has the fund performed over 1 year, 3 years and 5 years?

Its 1-year return is -18.22%, while the 3-year and 5-year returns are Data not available.

How does the fund compare with the benchmark?

Over 1 year, the fund has lagged the benchmark, with -18.22% versus -8.27%. Over 3 months, it has done better than the benchmark, which shows a stronger recent rebound.

How does it compare with peer funds on recent performance?

Its 1-year return is below every peer listed in the comparison table. The peer set also shows that some sector-focused funds have delivered much stronger short-term and, where available, medium-term returns.

Is there a minimum SIP amount?

Yes, the minimum SIP amount is ₹500.

What are the risk, manager and exit-load details?

The fund is tagged High Risk and is managed by Viral Chhadva. The exit load is 0.25% on or before 15D, and nil after 15D.

Bottom line

This fund’s recent performance has been weaker over 1 year, even though the 3-month trend improved and was better than the benchmark. Against peers, the short-term return picture also looks softer, while the portfolio remains tightly focused on IT stocks, led by Infosys and TCS. That makes it a niche sector holding rather than a broad core allocation. It may fit investors who accept High Risk, expect sector cyclicality, and want a concentrated IT index exposure inside a diversified portfolio.

Published on 16 September 2026 at 2:01 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.