DebtCredit Risk FundRegularIDCWModerate

SBI Credit Risk Fund

Q: What is the NAV of SBI Credit Risk Fund?

As of 01 Oct 2026, the NAV of SBI Credit Risk Fund is ₹22.49 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has SBI Credit Risk Fund delivered?

SBI Credit Risk Fund has returned +7.08% over 1 year, +7.75% per year over 3 years, +6.99% per year over 5 years and +3.94% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of SBI Credit Risk Fund?

SBI Credit Risk Fund charges an expense ratio of 1.54% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of SBI Credit Risk Fund?

SBI Credit Risk Fund's largest holdings are Renew Solar Energy (Jharkhand Five) Pvt. Ltd. (4.6%), Lodha Developers Ltd. (4.6%), Tata Projects Ltd. (4.5%), NJ Capital Pvt. Ltd. (4.5%) and H.G. Infra Engineering Ltd. (4.5%). Holdings are disclosed monthly and change over time.

Q: How risky is SBI Credit Risk Fund?

SBI Credit Risk Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -3.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 1.22 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Credit Risk Fund's 1.22 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of SBI Credit Risk Fund?

SBI Credit Risk Fund is benchmarked against the CRISIL Composite Credit Risk Index. Its alpha and beta on this page are measured against that index.

Q: Who manages SBI Credit Risk Fund?

SBI Credit Risk Fund is managed by Lokesh Mallya at SBI.

Q: How is SBI Credit Risk Fund taxed?

SBI Credit Risk Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

SBI Mutual Fund · Best Credit Risk Mutual Funds

NAV

₹22.49

-0.09% 1D

as of 01 Oct 2026

This is the Regular plan of SBI Credit Risk Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

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NAV history

+7.19%CAGR

52-week rangePrev NAV ₹22.51

Latest ₹22.49

Low ₹21.0095th percentile of its 52-week rangeHigh ₹22.56

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Credit Risk Fund peers to rank yet

Risk—

Volatility 1.0% (no category average yet)

Cost—

1.5% expense (no category average yet)

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.54%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

1.22

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

CRISIL Composite Credit Risk Index

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

03 Apr 2006

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-0.03%

Absolute return over the last 3 months (not annualized)

+1.33%

Absolute return over the last 6 months (not annualized)

+4.26%

Absolute return since 1 Jan of this year (not annualized)

+5.59%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+7.08%

3-year annualized return (CAGR)

+7.75%

5-year annualized return (CAGR)

+6.99%

10-year annualized return (CAGR)

+5.10%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+3.94%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.02%

Excess return per unit of total volatility (rf = 6.5%)

1.22

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

1.92

Largest peak-to-trough decline over full history

-3.07%

Benchmark ratios

Not shown for Credit Risk Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Credit Risk Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.03%	—	—
3M abs	+1.33%	—	—
6M abs	+4.26%	—	—
1Y CAGR	+7.08%	—	—
3Y CAGR	+7.75%	—	—
5Y CAGR	+6.99%	—	—

Category average across peers in Credit Risk Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.23L

Absolute

+20.52%

XIRR

+7.64%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into SBI Credit Risk Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+5.59%
2025	+7.92%
2024	+8.08%
2023	+8.32%
2022	+4.25%
2021	+4.95%
2020	+9.78%
2019	+0.53%
2018	+1.71%
2017	-0.15%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

4,973

Expense ratio

1.54%

AUM

₹2,138Cr

YTM (from holdings)

8.73%

Average maturity

2.13 years

Exit load

Nil

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Credit Risk Fund

Compare all


SBI Credit Risk FundThis fund SBI · Regular · IDCW	—	+7.08%	+7.75%	+6.99%	—	1.54%	₹2,138Cr
Invesco India Credit Risk Fund Invesco · Regular · Discretionary IDCW	—	+6.31%	+8.19%	+7.10%	—	—	₹7.72L
SBI Credit Risk Fund SBI · Regular · IDCW	—	+7.08%	+7.75%	+6.99%	—	1.54%	₹2,138Cr
HDFC Credit Risk Fund HDFC · Regular · IDCW	—	+6.32%	+7.50%	+6.43%	—	1.51%	—
Kotak Credit Risk Fund Kotak Mahindra · Regular · Standard · IDCW	—	+5.62%	+7.50%	+5.66%	—	—	—
UTI - Credit Risk Fund. UTI · Regular · Discontinued · Quarterly IDCW	—	+5.58%	+6.95%	+6.30%	—	1.43%	₹252.19Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt84.27%
Real Estate / REITs9.89%
Cash & Equivalents5.45%
Other0.39%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Renew Solar Energy (Jharkhand Five) Pvt. Ltd.

4.58%

Lodha Developers Ltd.

4.58%

Tata Projects Ltd.

4.54%

NJ Capital Pvt. Ltd.

4.54%

H.G. Infra Engineering Ltd.

4.52%

JTPM Metal Traders Ltd.

4.44%

Renserv Global Pvt Ltd.

3.66%

JSW Kalinga Steel Ltd.

3.55%

Aditya Birla Renewables Ltd.

3.44%

Motilal Oswal Home Finance Ltd.

3.44%

Fund size over time

Quarterly average AUM · AMFI

₹2,138Cr

April - June 2026

-1%

since January - March 2026

−₹47.77Cr

est. net flow, last quarter

At or near its largest, ₹2,161Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.

Launched

28 Jun 1987

Total AUM

₹12,57,352Cr+0.7% QoQ

Avg AUM · April - June 2026

Website

sbimf.com

Fund Managers

LMLokesh MallyaManaging since 01 Feb 2017

Role

Fund Manager Credit Analyst

Education

MBA, CFA, FRM

Experience

Lokesh Mallya joined SBIFML in October 2014 as Credit Analyst. He has over 14 years of experience in research in the Indian fixed income market and fund management. Prior to joining SBIFML, Mr. Mallya was working with Birla SunLife Asset Management Company Limited as Fund Manager (Sept 2009-Sept 2014) and as Credit Analyst (July 2006-Aug 2009). Lokesh is presently managing SBI Credit Risk Fund, SBI Magnum Medium Duration Fund, SBI Magnum Children's Benefit Fund - Savings Plan (Debt portion) and SBI Magnum Children's Benefit Fund - Investment Plan (Debt portion)

Funds managed (3)

All schemes Lokesh Mallya runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

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Fund managers

Lokesh Mallya

SBI in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Credit Risk funds

Credit risk funds must keep at least 65% in corporate bonds rated AA and below. The lower rating is what pays the extra yield, and it is also the risk — a downgrade or default hits the NAV directly, which is not a thing that happens in a gilt fund.

Frequently asked questions

What is the NAV of SBI Credit Risk Fund?

As of 01 Oct 2026, the NAV of SBI Credit Risk Fund is ₹22.49 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has SBI Credit Risk Fund delivered?

SBI Credit Risk Fund has returned +7.08% over 1 year, +7.75% per year over 3 years, +6.99% per year over 5 years and +3.94% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of SBI Credit Risk Fund?

SBI Credit Risk Fund charges an expense ratio of 1.54% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of SBI Credit Risk Fund?

SBI Credit Risk Fund's largest holdings are Renew Solar Energy (Jharkhand Five) Pvt. Ltd. (4.6%), Lodha Developers Ltd. (4.6%), Tata Projects Ltd. (4.5%), NJ Capital Pvt. Ltd. (4.5%) and H.G. Infra Engineering Ltd. (4.5%). Holdings are disclosed monthly and change over time.

How risky is SBI Credit Risk Fund?

SBI Credit Risk Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -3.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 1.22 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Credit Risk Fund's 1.22 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of SBI Credit Risk Fund?

SBI Credit Risk Fund is benchmarked against the CRISIL Composite Credit Risk Index. Its alpha and beta on this page are measured against that index.

Who manages SBI Credit Risk Fund?

SBI Credit Risk Fund is managed by Lokesh Mallya at SBI.

How is SBI Credit Risk Fund taxed?

SBI Credit Risk Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.