UTI Nifty SDL Plus AAA PSU Bond Apr 2028 75:25 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

UTI Nifty SDL Plus AAA PSU Bond Apr 2028 75:25 Index Fund Direct Growth Plan has a NAV of ₹12.9796 as of 17 Sep 2026 and scheme AUM of ₹32 Cr. Its 1-year, 3-year and 5-year returns are 5.92%, 7.44% and 0%, and the risk category is Balanced Risk.

Our view is that this is a relatively stable fixed-income-oriented index strategy with modest recent gains and a longer track record that is still building. The portfolio is dominated by SDL and AAA/PSU bond exposure, so it may suit investors looking for steadier behaviour than equity funds, but the limited history means the long-term picture is not yet fully developed.

Quick facts

Particular	Details
NAV	₹12.9796 as of 17 Sep 2026
AUM	₹32 Cr
Expense Ratio	0.17%
Launch Date	03 Mar 2023
Min SIP	₹500
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Jaydeep Bhowal

The fund is managed by Jaydeep Bhowal.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.21%	-3.66%
3M	1.39%	-3.71%
1Y	5.92%	-7.13%
3Y	7.44%	5.82%
5Y	Data not available	Data not available

Recent behaviour has been notably steadier than the benchmark. Over 1 month, 3 months and 1 year, the fund stayed positive while the benchmark was negative across all three periods. That contrast matters because it shows the portfolio has not been following the same short-term swings as the benchmark name used for comparison here.

The 3-year return is still positive at 7.44%, which is better than the benchmark’s 5.82% over the same period. That suggests the strategy has preserved a modest compounding edge over a fuller market cycle, even though the returns are not high in absolute terms.

The 5-year figure is not available because the scheme has not been running long enough for a meaningful 5-year track record. So our read is based mainly on the 1-year and 3-year pattern: the fund has delivered low-volatility gains, but it is not a high-growth vehicle.

For investors, that combination usually points to a more measured return profile rather than a return-seeking equity-style pattern. The recent one-year result is stronger than the benchmark’s, while the longer three-year result still remains in positive territory and slightly ahead of the same comparison point.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD UTI Nifty SDL Plus AAA PSU Bond Apr 2028 75:25 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
UTI Nifty SDL Plus AAA PSU Bond Apr 2028 75:25 Index Fund Direct Growth Plan	5.92%	7.44%	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.45%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.13%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.68%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	17.57%	18.84%	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 well below the equity-oriented peer examples listed here, which is consistent with its bond-heavy structure rather than a growth-oriented equity theme. Over 3 years, it still trails the stronger peer figures that are available for comparison, but it remains positive and has held up better than many short-term return sets would suggest. The short-term and longer-term comparisons therefore tell the same broad story: the fund has been stable, but it is not built to chase the faster return profiles seen in these peers.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.98% Up SDL Mat – 11/04/2028	Government Securities	28.23%
8.05% TN SDL Mat – 18/04/2028	Government Securities	19.64%
08.09% Westbengal SDL 27/03/2028	Government Securities	15.69%
NCD REC Ltd	Corporate Debt	8.09%
NCD National Bank for Agriculture and Rural Development	Corporate Debt	7.7%
NCD Power Finance Corporation Ltd.	Corporate Debt	7.14%
Net Current Assets	Cash & Cash Equivalents and Net Assets	4.56%
8.00% KL SDL Mat – 11/04/2028	Government Securities	3.14%
8.14% HR SDL Mat – 27/03/28	Government Securities	3.14%
8.45% Haryana SDL Mat – 07/03/2028	Government Securities	1.1%

The top 10 holdings account for approximately 98.43% of the portfolio.

To see all holdings, visit the UTI Nifty SDL Plus AAA PSU Bond Apr 2028 75:25 Index Fund Direct Growth Plan page

The largest holding, 7.98% Up SDL Mat – 11/04/2028, carries a weight of 28.23%, which means it is likely to have the strongest single influence on day-to-day portfolio movement. The next few positions remain substantial too, with 19.64% and 15.69% still sitting in SDL holdings, so the fund is not relying on just one security.

After the first three positions, weights step down into the 8% to 7% range for the corporate debt holdings, then to 4.56% in net current assets and into the low 3% and 1% range for the remaining disclosed rows. That drop from the largest holding to the tenth suggests a clear core-and-support structure rather than an evenly spread book.

Because the top 10 disclosed holdings account for 98.43% of the portfolio across 12 total holdings, the fund appears fairly concentrated in a small number of positions even though the tail still exists. In practical terms, that may make the top SDL and corporate debt exposures more important than the smaller residual holdings when thinking about return behaviour and portfolio stability.

Source data date: as of 17 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a balanced-risk debt strategy and want a relatively steady return pattern rather than aggressive growth. The 1-year and 3-year results are positive, and the benchmark comparison shows the fund has held up better in the recent period than the benchmark used for this review.

The trade-off is that the return profile is restrained compared with equity-style peer funds, so investors need to accept lower upside in exchange for a portfolio that is anchored in SDL and AAA/PSU bond exposure. A longer horizon can still help absorb rate-related movement, but the scheme is more about measured compounding than fast gains.

It is most relevant for investors who prefer a disciplined fixed-income allocation and are willing to stay patient through interest-rate swings.

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: No exit load.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of UTI Nifty SDL Plus AAA PSU Bond Apr 2028 75:25 Index Fund Direct Growth Plan?
Its NAV is ₹12.9796 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 5.92% for 1 year, 7.44% for 3 years and Data not available for 5 years.

How has it compared with the benchmark recently?
It has been ahead of the benchmark in the 1-month, 3-month and 1-year periods, and it is also ahead over 3 years based on the comparison used here.

How does it compare with the peer funds listed here?
Its returns are lower than the equity-oriented peer examples shown here, which is in line with its bond-heavy structure and steadier profile.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

What are the risk category, key holdings and exit load?
The fund is classified as Balanced Risk. Its largest disclosed holding is 7.98% Up SDL Mat – 11/04/2028 at 28.23%, and the scheme has no exit load.

Bottom line

This fund’s recent behaviour is steadier than the benchmark comparison, while the 3-year result remains positive and slightly ahead of the comparison point used here. Against the peer set shown, the return profile is clearly more conservative, which fits the SDL and AAA/PSU bond structure rather than an equity-style search for higher gains.

Its key portfolio feature is concentration in a few large debt positions, especially SDLs, with the top disclosed holdings accounting for most of the portfolio. That makes it a measured, bond-led option for investors who value stability and can accept modest upside in exchange for a more controlled risk profile.

Published on 18 September 2026 at 12:13 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.