EquitySectoral/ ThematicRegularIDCWVery High

Nippon India Innovation Fund

Q: What is the NAV of Nippon India Innovation Fund?

As of 01 Oct 2026, the NAV of Nippon India Innovation Fund is ₹14.12 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Nippon India Innovation Fund delivered?

Nippon India Innovation Fund has returned -2.05% over 1 year, +11.47% per year over 3 years and +11.54% 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 Nippon India Innovation Fund?

Nippon India Innovation Fund charges an expense ratio of 2.08% 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 Nippon India Innovation Fund?

Nippon India Innovation Fund's largest holdings are Eternal Limited (5.0%), Info Edge (India) Limited (4.7%), Trent Limited (3.7%), Samvardhana Motherson International Limited (3.1%) and 3M India Limited (3.1%). Holdings are disclosed monthly and change over time.

Q: How risky is Nippon India Innovation Fund?

Nippon India Innovation Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.2% and its worst peak-to-trough fall in our sample was -21.9%. 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 0.35 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Innovation Fund's 0.35 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Nippon India Innovation Fund?

Nippon India Innovation Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Nippon India Innovation Fund?

Nippon India Innovation Fund is managed by Vinay Sharma and Rishit Parikh at Nippon India.

Q: How is Nippon India Innovation Fund taxed?

Nippon India Innovation Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Nippon India Mutual Fund · Best Sectoral & Thematic Mutual Funds

NAV

₹14.12

-1.28% 1D

as of 01 Oct 2026

This is the Regular plan of Nippon India Innovation 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.

Compare SIP calculator

Performance

-1.43%CAGR

52-week rangePrev NAV ₹14.30

Latest ₹14.12

Low ₹12.2161st percentile of its 52-week rangeHigh ₹15.36

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 Equity funds (same plan and option) to rank against yet.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

Risk—

Volatility 14.2% (no category average yet)

Cost—

2.1% 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

2.08%

Category —

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

41.11

Category —

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

0.35

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

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

None

1% if redeemed or switched out on or before completion of 1 year from the date of allotment of units. Nil, thereafter

1.00%

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

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

Nifty 500 TRI

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.

01 Sep 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-6.68%

Absolute return over the last 3 months (not annualized)

-2.50%

Absolute return over the last 6 months (not annualized)

+12.63%

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

-1.49%

Annualized returns (≥1Y — CAGR)

Definitions

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

-2.05%

3-year annualized return (CAGR)

+11.47%

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

+11.54%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.25%

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

0.35

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

0.48

Largest peak-to-trough decline over full history

-21.92%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

2.16%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

1.02

How much of the fund's movement Nifty 500 TRI explains

89.7%

Excess return per unit of beta (market risk)

5.35

Active return over the benchmark per unit of tracking error

0.41

Annualized std dev of fund-minus-benchmark returns

5.49%

Fund's share of benchmark gains in up months (100 = matches index)

108.9%

Fund's share of benchmark losses in down months (lower is better)

101.2%

Computed vs the Nifty 500 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Sectoral/ Thematic)

Period	Fund	Category avg.	Diff
1M abs	-6.68%	—	—
3M abs	-2.50%	—	—
6M abs	+12.63%	—	—
1Y CAGR	-2.05%	—	—
3Y CAGR	+11.47%	—	—
5Y CAGR	—	—	—

Category average across peers in Sectoral/ Thematic, 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

₹3.60L

Current value

₹3.83L

Absolute

+6.27%

XIRR

+4.21%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into Nippon India Innovation 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	Nifty 500 TRI	Diff
2026part	-1.49%	-7.18%	+5.69%
2025	+5.41%	+7.94%	-2.53%
2024	+20.25%	+16.43%	+3.82%
2023part	+12.13%	—	—

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; those years show no benchmark comparison.

History points

758

Expense ratio

2.08%

AUM

₹2,787Cr

Portfolio turnover

46%

Exit load

1% if redeemed or switched out on or before completion of 1 year from the date of allotment of units. Nil, thereafter

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

41.1

P/B ratio

7.3

Avg market cap

₹1,45,716Cr

P/E & P/B are portfolio-weighted harmonic means across 40 of 59 equity holdings (74% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

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 · Sectoral/ Thematic

Compare all


Nippon India Innovation FundThis fund Nippon India · Regular · IDCW	—	-2.05%	+11.47%	—	—	2.08%	₹2,787Cr
Nippon India Taiwan Equity Fund Nippon India · Regular · IDCW	—	+118.60%	+60.45%	—	—	2.34%	₹1,110Cr
HDFC Defence Fund HDFC · Regular · IDCW	—	+21.45%	+34.62%	—	—	1.79%	₹9,371Cr
HDFC Pharma and Healthcare Fund HDFC · Regular · IDCW	—	+25.19%	+28.72%	—	—	2.11%	₹2,282Cr
Nippon India Japan Equity Fund Nippon India · Regular · IDCW	—	+29.10%	+21.80%	+10.22%	—	2.50%	₹330.20Cr
HDFC Transportation and Logistics Fund HDFC · Regular · IDCW	—	+3.61%	+21.77%	—	—	2.15%	₹1,685Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap46.2%
Mid cap26.9%
Small cap26.9%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.75%
Cash & Equivalents1.25%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Eternal Limited

5.03%

Info Edge (India) Limited

4.70%

Trent Limited

3.66%

Samvardhana Motherson International Limited

3.11%

3M India Limited

3.08%

Swiggy Limited

3.08%

Varun Beverages Limited

3.03%

ZF Commercial Vehicle Control Systems India Limited

2.76%

FSN E-Commerce Ventures Limited

2.67%

Bajaj Finserv Limited

2.53%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Nippon India Multi Asset Allocation Fund Nippon India · Multi Asset Allocation	39.1% of 56% equity	★★★★★	0.47%	+18.08%
Nippon India Focused Fund Nippon India · Focused Fund	37.9%	★★★☆☆	1.39%	+7.74%
Nippon India Flexi Cap Fund Nippon India · Flexi Cap Fund	34.1%	★★☆☆☆	0.65%	+8.81%
Nippon India Multi Cap Fund Nippon India · Multi Cap Fund	31.7%	★★★☆☆	0.88%	+11.70%
Bandhan Innovation Fund Bandhan · Sectoral/ Thematic	30.2%	★★★★★	0.87%	—
SBI Innovative Opportunities Fund SBI · Sectoral/ Thematic	29.5%	★★★★☆	1.05%	—
Invesco India Multi Cap Fund Invesco · Multi Cap Fund	29.0%	★★☆☆☆	0.93%	+11.70%
Union Consumption Fund Union · Sectoral/ Thematic	28.3%	—	1.37%	—

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 1.91% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I1.91%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-21.9%26 Sep 2024 → 03 Mar 2025
Fell over 5 months, back to the old high on 10 Aug 2026 — 17 months under water after the low.
-8.1%25 Aug 2026 → 01 Oct 2026
Still below that high — 37 days down, and no recovery yet.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹2,787Cr

April - June 2026

+3%

since January - March 2026

+₹156.55Cr

est. net flow, last quarter

At or near its largest, ₹2,787Cr in April - June 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

Nippon India Mutual Fund is managed by Nippon Life India Asset Management, which took control of the former Reliance Mutual Fund in 2019 when Nippon Life of Japan bought out the Reliance Capital stake. It is among India's largest fund houses by assets and is best known for its small- and mid-cap franchise.

Launched

29 Jun 1995

Total AUM

₹7,87,053Cr+4.7% QoQ

Avg AUM · July - September 2026

Website

mf.nipponindiaim.com

Fund Managers

VSVinay SharmaManaging since 01 Aug 2023

Role

Fund Manager

Education

B.Arch, PGDCM

Experience

Over 21 years of experience April 2018 till date Nam India Fund Manager January 2010 till March 2018 ICICI Prudential Asset Management – Fund Manager Equities January 2007 – January 2010 AIG Global Asset Management Company – Equity Research Analyst Dec 2004 – January 2007 J P Morgan India Services Private Limited – Equity Research Analyst July 2004 – December 2004 UTI Bank – management trainee

Funds managed (2)

All schemes Vinay Sharma runs →

RPRishit ParikhManaging since 01 Aug 2024

Role

Co - Fund Manager / Assistant Fund Manager & Research Analyst

Education

MBA, B-Tech

Experience

Over 16 years of experience From August 19, 2024 onwards Co - Fund Manager / Assistant Fund Manager & Research Analyst, NAM India October 2021 – August 18, 2024 Research Analyst - Equity, Nippon Life Asset Management May 2015 to October 2021 Lead Analyst, IT, Internet & Real Estate at Nomura. March 2014 to September 2015 Senior Analyst, Goldman Sachs.

Funds managed (1)

Nippon India Focused Fund

All schemes Rishit Parikh 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.

Explore from here

Fund managers

Vinay Sharma Rishit Parikh

Top holdings

Eternal Limited Info Edge (India) Limited Trent Limited Samvardhana Motherson International Limited 3M India Limited Swiggy Limited Varun Beverages Limited ZF Commercial Vehicle Control Systems India Limited FSN E-Commerce Ventures Limited Bajaj Finserv Limited Axis Bank Limited Avenue Supermarts Limited

Nippon India 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.

Run SIP calculator Add to compare

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 Sectoral & Thematic funds

Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.

Frequently asked questions

What is the NAV of Nippon India Innovation Fund?

As of 01 Oct 2026, the NAV of Nippon India Innovation Fund is ₹14.12 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Nippon India Innovation Fund delivered?

Nippon India Innovation Fund has returned -2.05% over 1 year, +11.47% per year over 3 years and +11.54% 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 Nippon India Innovation Fund?

Nippon India Innovation Fund charges an expense ratio of 2.08% 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 Nippon India Innovation Fund?

Nippon India Innovation Fund's largest holdings are Eternal Limited (5.0%), Info Edge (India) Limited (4.7%), Trent Limited (3.7%), Samvardhana Motherson International Limited (3.1%) and 3M India Limited (3.1%). Holdings are disclosed monthly and change over time.

How risky is Nippon India Innovation Fund?

Nippon India Innovation Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.2% and its worst peak-to-trough fall in our sample was -21.9%. 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 0.35 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Innovation Fund's 0.35 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Nippon India Innovation Fund?

Nippon India Innovation Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Who manages Nippon India Innovation Fund?

Nippon India Innovation Fund is managed by Vinay Sharma and Rishit Parikh at Nippon India.

How is Nippon India Innovation Fund taxed?

Nippon India Innovation Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.