HealthyDirect · GrowthFit for a long SIP
Union Innovation & Opportunities Fund
Union Mutual FundEquity Scheme - Sectoral/ Thematic3.1 years
The Scheme seeks to achieve long term capital appreciation by investing predominantly in equity and equity related securities of Innovative Companies.
- NAV
- 16.15
- 29 Oct 2026
- 1Y
- +5.0%
- Trailing CAGR
- Upside capture
- +123%
- Vs NIFTY 500 TRI
- Downside capture
- +89%
- Lower is better
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 29 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 100% of rolling 3-year windows.
Fits if · Three-year return is above the category median.
Buy checklist
History depth
Watch
3.1 years - usable, still building a track record.
Engine status
Pass
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Expense ratio
Pass
0.99% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -23.9%. Ask whether you can hold through a similar fall.
Vs category
Pass
100% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Pass
Gaurav Chopra · 2.0 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
Pass
Top 10 holdings ≈ 35.2% 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 24%. 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+5.0%
- 3Y+18.5%
- 5Yn/a
- 10Yn/a
- SI+16.8%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+17.1%
- 3Y+13.0%
- 5Yn/a
- 10Yn/a
- Since inception
- +16.8%
- Calendar-day CAGR
- Excess 1Y
- +7.9%
- Category median, same plan and option
- 3Y win rate
- +100%
- Windows beating the median
- 3Y percentile
- 74
- Vs comparable share classes
- SIP 3Y XIRR
- +13.0%
- Simulated monthly SIP
- Worst rolling 3Y
- +16.1%
- 31 daily-ending windows
- Median rolling 3Y
- +18.1%
- Calendar-day CAGR
- Positive rolling 5Y
- n/a
- 0 daily-ending windows
Official benchmark
Date-aligned against NIFTY 500 TRI. Capture ratios use common month-end observations through 30 Oct 2026.
- 1Y excess
- +12.6%
- Fund minus TRI
- 3Y excess
- +8.1%
- Fund minus TRI
- Upside capture
- +123%
- Benchmark-up months
- Downside capture
- +89%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -23.9%
- Worst peak-to-trough
- Current
- -5.6%
- Below last peak
- Current spell
- 36 days
- Days below latest peak
- Time below peak
- +86%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 15 days
- 46 recovered episodes
- Longest recovery
- 449 days
- Trough to prior peak
17 Dec 2024 – 30 Jun 2026
Trough 7 Apr 2025 · recovered in 449 days
-23.9%
23 Sept 2026 – open
Trough 23 Oct 2026 · not recovered
-10.6%
15 Oct 2024 – 3 Dec 2024
Trough 25 Oct 2024 · recovered in 39 days
-8.5%
27 Feb 2024 – 1 Apr 2024
Trough 13 Mar 2024 · recovered in 19 days
-6.5%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
75
Vs category
99
Consistency
92
Risk-adjusted
58
Drawdown
40
Mean
73
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 100% of rolling 3-year windows.
- Three-year return is above the category median.
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
30 Sept 2026 · 57 holdings · top 10 are 35.2%.
- Top 5
- 20.4%
- Top 10
- 35.2%
- Largest holding
- 5.3%
- Effective holdings
- 41.0
One 97 Communications Ltd
Industrials
5.3%
Zomato Ltd
Technology
4.8%
Repo
Unspecified
3.6%
Info Edge (India) Ltd
Technology
3.5%
GE T&D India Ltd
Industrials
3.2%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
19 Oct 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Kotak Business Cycle Fund
Kotak Mahindra Mutual Fund
- 1Y
- +0.3%
- 3Y
- +16.1%
- Vol
- 12.7%
- Max DD
- -18.4%
- Sharpe
- 0.72
- 3Y win
- +98%
- Lower volatility
- Shallower drawdown
- Lower TER
Caveat: Lower trailing returns
Nippon India Innovation Fund
Nippon India Mutual Fund
- 1Y
- -5.1%
- 3Y
- +13.1%
- Vol
- 14.3%
- Max DD
- -21.5%
- Sharpe
- 0.47
- 3Y win
- +100%
- Lower volatility
- Shallower drawdown
- Lower TER
Caveat: Lower trailing returns
Aditya Birla Sun Life Business Cycle Fund
Aditya Birla Sun Life Mutual Fund
- 1Y
- +0.1%
- 3Y
- +13.1%
- Vol
- 13.9%
- Max DD
- -17.8%
- Sharpe
- 0.39
- 3Y win
- +13%
- Lower volatility
- Shallower drawdown
Caveat: Higher TER · Lower trailing returns
Aditya Birla Sun Life Commodity Equities Fund - Global Agri Plan
Aditya Birla Sun Life Mutual Fund
- 1Y
- -2.5%
- 3Y
- +20.3%
- Vol
- 16.8%
- Max DD
- -42.2%
- Sharpe
- 0.16
- 3Y win
- n/a
- Lower volatility
- Higher trailing returns
Caveat: Deeper drawdown
Baroda BNP Paribas Energy Opportunities Fund
Baroda BNP Paribas Mutual Fund
- 1Y
- -6.6%
- 3Y
- n/a
- Vol
- 13.9%
- Max DD
- -16.1%
- Sharpe
- 0.04
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
Caveat: Higher TER · Lower trailing returns