HealthyDirect · GrowthFit for a long SIP
Axis Nifty Bank Index Fund
Axis Mutual FundIndex Funds - Equity Funds2.4 years
The scheme seeks to provide returns before expenses that corresponds to the total returns of the Nifty Bank TRI subject to tracking errors.
- NAV
- 11.3123
- 30 Oct 2026
- 1Y
- -5.4%
- Trailing CAGR
- AUM
- ₹174.75 Cr
- 30 Sept 2026
- Volatility
- High
- 16.3% annualized
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 30 Oct 2026
Stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
In three lines
Fits if · The fund beat the category median in 82% of rolling 1-year windows.
Buy checklist
History depth
Fail
2.4 years - thin for judging consistency.
Engine status
Pass
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Expense ratio
Pass
0.24% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -18.3%. Ask whether you can hold through a similar fall.
Vs category
n/a
Category relative read still thin.
Manager tenure
Watch
Nandik Mallik · 0.7 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Watch
Top 10 holdings ≈ 87.5% of the portfolio.
Evidence supports a shortlist - confirm with peers before you buy elsewhere.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
Drawdown rehearsal
This scheme’s worst fall on file is about 18%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
If you start a SIP here, diary a 90-day check and an annual review - don’t react to every NAV print.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y-5.4%
- 3Yn/a
- 5Yn/a
- 10Yn/a
- SI+5.6%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-6.1%
- 3Yn/a
- 5Yn/a
- 10Yn/a
- Since inception
- +5.6%
- Calendar-day CAGR
- Excess 1Y
- +0.9%
- Category median, same plan and option
- 3Y win rate
- n/a
- Windows beating the median
- 3Y percentile
- n/a
- Vs comparable share classes
- SIP 3Y XIRR
- n/a
- Simulated monthly SIP
- Worst rolling 3Y
- n/a
- 0 daily-ending windows
- Median rolling 3Y
- n/a
- Calendar-day CAGR
- Positive rolling 5Y
- n/a
- 0 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -18.3%
- Worst peak-to-trough
- Current
- -10.7%
- Below last peak
- Current spell
- 254 days
- Days below latest peak
- Time below peak
- +92%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 11 days
- 23 recovered episodes
- Longest recovery
- 46 days
- Trough to prior peak
18 Feb 2026 – open
Trough 30 Mar 2026 · not recovered
-18.3%
26 Sept 2024 – 21 Apr 2025
Trough 11 Mar 2025 · recovered in 41 days
-12.0%
3 Jun 2024 – 19 Jun 2024
Trough 4 Jun 2024 · recovered in 15 days
-8.0%
1 Jul 2025 – 16 Oct 2025
Trough 31 Aug 2025 · recovered in 46 days
-6.3%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
10
Vs category
55
Consistency
82
Risk-adjusted
28
Drawdown
54
Mean
46
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Healthy
Buying stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Why this status
- No material deterioration, cost shock, or persistent category underperformance in the current evidence set.
Supporting reads
- The fund beat the category median in 82% of rolling 1-year windows.
Portfolio
30 Sept 2026 · 15 holdings · top 10 are 87.5%.
- Top 5
- 62.9%
- Top 10
- 87.5%
- Largest holding
- 18.6%
- Effective holdings
- 9.9
HDFC Bank Ltd
Financial
18.6%
ICICI Bank Ltd
Financial
14.2%
Kotak Mahindra Bank Ltd
Financial
10.2%
Axis Bank Ltd
Financial
10.1%
State Bank of India
Financial
9.9%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
16 Oct 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Aditya Birla Sun Life BSE 500 Quality 50 Index Fund
Aditya Birla Sun Life Mutual Fund
- 1Y
- -4.2%
- 3Y
- n/a
- Vol
- 13.6%
- Max DD
- -11.4%
- Sharpe
- -0.34
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
JioBlackRock Nifty Midcap 150 Index Fund
Jio BlackRock Mutual Fund
- 1Y
- -4.6%
- 3Y
- n/a
- Vol
- 15.9%
- Max DD
- -14.0%
- Sharpe
- -0.38
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
Groww Nifty Next 50 Index Fund
Groww Mutual Fund
- 1Y
- -2.8%
- 3Y
- n/a
- Vol
- 16.6%
- Max DD
- -14.3%
- Sharpe
- -0.18
- 3Y win
- n/a
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher volatility · Higher TER
Aditya Birla Sun Life Nifty 50 Equal Weight index Fund
Aditya Birla Sun Life Mutual Fund
- 1Y
- -5.1%
- 3Y
- +11.3%
- Vol
- 13.7%
- Max DD
- -18.0%
- Sharpe
- 0.46
- 3Y win
- +15%
- Lower volatility
- Shallower drawdown
- Higher trailing returns
Caveat: Higher TER
Aditya Birla Sun Life Nifty Midcap 150 Index Fund
Aditya Birla Sun Life Mutual Fund
- 1Y
- -4.7%
- 3Y
- +13.5%
- Vol
- 16.7%
- Max DD
- -21.2%
- Sharpe
- 0.68
- 3Y win
- +100%
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown · Higher TER