EquitySectoral/ ThematicRegularGrowthVery High

Bandhan Innovation Fund

Q: What is the NAV of Bandhan Innovation Fund?

As of 01 Oct 2026, the NAV of Bandhan Innovation Fund is ₹15.06 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Bandhan Innovation Fund delivered?

Bandhan Innovation Fund has returned +15.30% over 1 year and +18.15% 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 Bandhan Innovation Fund?

Bandhan Innovation Fund charges an expense ratio of 2.25% 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 Bandhan Innovation Fund?

Bandhan Innovation Fund's largest holdings are Eternal Limited (6.4%), One 97 Communications Limited (5.0%), Bajaj Finserv Limited (3.7%), ICICI Bank Limited (3.2%) and Meesho Ltd (2.8%). Holdings are disclosed monthly and change over time.

Q: How risky is Bandhan Innovation Fund?

Bandhan Innovation Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.0% and its worst peak-to-trough fall in our sample was -19.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of Bandhan Innovation Fund?

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

Q: Who manages Bandhan Innovation Fund?

Bandhan Innovation Fund is managed by Manish Gunwani, Prateek Poddar and Brijesh Shah at Bandhan.

Q: How is Bandhan Innovation Fund taxed?

Bandhan 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.

Bandhan Mutual Fund · Best Sectoral & Thematic Mutual Funds

NAV

₹15.06

-0.93% 1D

as of 01 Oct 2026

This is the Regular plan of Bandhan Innovation Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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Performance

+16.63%CAGR

52-week rangePrev NAV ₹15.20

Latest ₹15.06

Low ₹11.6582nd percentile of its 52-week rangeHigh ₹15.78

Scorecard

★★★★☆4/5 vs 229 of 255 Sectoral/ Thematic peers1Y

Performance 60%
Risk 15%
Cost 10%
Downside 15%

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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Sectoral/ Thematic (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 229 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

RiskModerate

Volatility 17.0% vs 15.6% category avg

CostAverage

2.3% expense vs 2.5% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

Ahead of the Sectoral/ Thematic average on 1M/3M/6M/1Y — 1Y by 13.10pp
Ranks #25 of 229 on 1-year return in its Sectoral/ Thematic cohort

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.25%

Category 2.47%▼0.22%

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

39.06

Category —

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

—

Category 0.34

Scheme Info

Definitions

Plan

Regular · Growth

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

None

If redeemed/switched out within 30 days from the date of allotment: 0.50% of the applicable NAV If redeemed/switched out after 30 days from date of allotment – Nil

Up to 0.50%

tiered — see the full terms

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

₹1,000

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.

02 May 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.22%

Absolute return over the last 3 months (not annualized)

+4.73%

Absolute return over the last 6 months (not annualized)

+26.23%

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

+13.25%

Annualized returns (≥1Y — CAGR)

Definitions

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

+15.30%

3-year annualized return (CAGR)

—

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.

+18.15%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

16.97%

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

—

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

—

Largest peak-to-trough decline over full history

-19.88%

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

—

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

—

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

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

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	-3.22%	-5.15%	+1.93%
3M abs	+4.73%	-2.37%	+7.10%
6M abs	+26.23%	+10.75%	+15.48%
1Y CAGR	+15.30%	+2.20%	+13.10%
3Y CAGR	—	+12.15%	—
5Y CAGR	—	+11.03%	—

Category average across peers in Sectoral/ Thematic (254 of 255 carry a figure for at least one period), 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.

Category rank

Vs 255 peers in Sectoral/ Thematic

1Y return

+15.30%

Beats 89.5% · rank #25

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.20L

Current value

₹1.32L

Absolute

+10.39%

XIRR

+23.52%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Bandhan 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	+13.25%	-7.18%	+20.43%
2025	+3.25%	+7.94%	-4.69%
2024part	+27.94%	—	—

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

607

Expense ratio

2.25%

AUM

₹2,151Cr

Exit load

If redeemed/switched out within 30 days from the date of allotment: 0.50% of the applicable NAV If redeemed/switched out after 30 days from date of allotment – Nil

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

P/E ratio

39.1

P/B ratio

7.5

Avg market cap

₹1,76,519Cr

P/E & P/B are portfolio-weighted harmonic means across 64 of 83 equity holdings (81% 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


Bandhan Innovation FundThis fund Bandhan · Regular · Growth	★★★★☆ 1Y	+15.30%	—	—	—	2.25%	₹2,151Cr
Nippon India Taiwan Equity Fund Nippon India · Regular · Growth	★★★★☆	+118.60%	+60.45%	—	—	2.34%	₹1,110Cr
HDFC Defence Fund HDFC · Regular · Growth	★★★★☆	+21.45%	+34.62%	—	—	1.79%	₹9,371Cr
HDFC Pharma and Healthcare Fund HDFC · Regular · Growth	★★★★★	+25.19%	+28.72%	—	—	2.11%	₹2,282Cr
Franklin Asian Equity Fund Franklin Templeton · Regular · Growth	★★★☆☆	+32.21%	+22.88%	+8.49%	—	2.47%	₹720.84Cr
Aditya Birla Sun Life International Equity Fund Aditya Birla Sun Life · Regular · Growth	★★★★☆	+17.38%	+21.97%	+12.58%	—	2.54%	₹320.62Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap41.6%
Mid cap21.4%
Small cap37.0%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity99.00%
Cash & Equivalents0.53%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Bandhan Aggressive Hybrid Fund Bandhan · Aggressive Hybrid Fund	50.7% of 80% equity	★★★☆☆	0.86%	+13.38%
Bandhan Large Cap Fund Bandhan · Large Cap Fund	43.2%	★★★☆☆	1.08%	+11.46%
Sundaram Dynamic Asset Allocation Fund Sundaram · Dynamic Asset Allocation or Balanced Advantage	33.3% of 77% equity	★★☆☆☆	1.12%	+7.44%
Sundaram Multi Asset Allocation Fund Sundaram · Multi Asset Allocation	31.2% of 67% equity	★★☆☆☆	0.78%	—
Helios Flexi Cap Fund Helios · Flexi Cap Fund	31.0%	★★★☆☆	0.86%	—
Sundaram Aggressive Hybrid Fund Sundaram · Aggressive Hybrid Fund	30.4% of 72% equity	★★☆☆☆	1.16%	+8.03%
Nippon India Innovation Fund Nippon India · Sectoral/ Thematic	30.2%	★★★☆☆	0.87%	+12.93%
Canara Robeco Flexi Cap Fund Canara Robeco · Flexi Cap Fund	29.9%	★★★☆☆	0.69%	+10.26%

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)

5 holdings — 5.58% 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.

Sterlite Technologies LimitedLong-term · Stage IV2.00%
Mtar Technologies LimitedLong-term · Stage IV1.66%
BlueStone Jewellery and Lifestyle LimitedLong-term · Stage I0.95%
Lalithaa Jewellery Mart LimitedShort-term · Stage I0.87%
Optiemus Infracom LimitedShort-term · Stage I0.10%

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.

-19.9%02 Jan 2025 → 28 Feb 2025
Fell over 2 months, back to the old high on 22 Aug 2025 — 6 months under water after the low.
-14.9%29 Oct 2025 → 31 Mar 2026
Fell over 5 months, back to the old high on 07 May 2026 — 37 days under water after the low.
-8.1%01 Oct 2024 → 13 Nov 2024
Fell over 43 days, back to the old high on 16 Dec 2024 — 33 days under water after the low.

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

₹2,151Cr

April - June 2026

+11%

since January - March 2026

+₹169.95Cr

est. net flow, last quarter

At or near its largest, ₹2,151Cr 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

Bandhan Mutual Fund is the former IDFC Mutual Fund, bought in 2022 by a consortium of Bandhan Financial Holdings, ChrysCapital and GIC and renamed the following year. It carries a long-established debt franchise alongside its equity and index schemes.

Launched

19 Dec 1999

Total AUM

₹2,04,046Cr+4.5% QoQ

Avg AUM · April - June 2026

Website

bandhanmutual.com

Fund Managers

MGManish GunwaniStart date not disclosed

Role

Chief Investment Officer- Equity

Education

Post Graduate Diploma in Management IIM, Bangalore B-Tech - IIT, Madras

Experience

Mr. Manish Gunwani joined Bandhan AMC in January 2023 as Head - Equities. - He was earlier associated with Nippon Life India Asset Management Limited as Chief Investment (Equities) from September 2017 to December 2022 and had the overall responsibility of all equity schemes of Nippon Mutual Fund. Prior Innovation Fund - to that, he was associated with ICICI Prudential Asset Management Company Limited from June 2010 to August 2017 as Deputy Chief Investment Officer (Equities) and was the Fund Manager of two flagship equity schemes of ICICI Prudential Mutual Fund. (Total experience – 24 years).

Funds managed (7)

All schemes Manish Gunwani runs →

PPPrateek PoddarStart date not disclosed

Role

Vice President Chartered - Equity

Education

Chartered Accountant, CFA

Experience

Mr. Prateek Poddar joined Bandhan AMC Limited in May 2024 in the Equity Fund Management team. He has a total experience of 13 years in asset management companies. He was earlier associated with Nippon Life India Asset Management as Investment Analyst & Co- Fund Manager from Sept 2018 to April 2024 and with ICICI Prudential AMC from November 2012 to August 2018 as Investment Analyst. (Total experience – 13 years)

Funds managed (3)

All schemes Prateek Poddar runs →

BSBrijesh ShahManaging since 30 Apr 2024

Role

Senior Vice President – Fixed Income

Education

Post Graduate Diploma in Finance

Experience

Mr Shah is associated with Bandhan AMC since August 2015 as part of the Fixed Income Team and will now be handling investments and fixed income Bandhan US Treasury Bond 0-1 year – fund management. Prior experience: · IDBI Asset Management Ltd. – Dealing in Fixed income (Jan.2013 to Aug.2015) · India Bulls Asset Management Ltd. – Dealing in Fixed income (Jun.2011 to Dec.2012) · Mata Securities - Relationship Manager, Wholesale Debt Market (Jun.2010 to Jun.2011) · Twenty First Century - Relationship Manager, Wholesale Debt Market (Jan.2009 to May2010) (Total experience – 15 years)

Funds managed (42)

All schemes Brijesh Shah 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

Manish Gunwani Prateek Poddar Brijesh Shah

Top holdings

Eternal Limited One 97 Communications Limited Bajaj Finserv Limited ICICI Bank Limited Meesho Ltd AstraZeneca Pharma India Limited Coforge Limited Mahindra & Mahindra Limited Honasa Consumer Limited Reliance Industries Limited Sterlite Technologies Limited Poonawalla Fincorp Limited

Bandhan 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 Bandhan Innovation Fund?

As of 01 Oct 2026, the NAV of Bandhan Innovation Fund is ₹15.06 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Bandhan Innovation Fund delivered?

Bandhan Innovation Fund has returned +15.30% over 1 year and +18.15% 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 Bandhan Innovation Fund?

Bandhan Innovation Fund charges an expense ratio of 2.25% 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 Bandhan Innovation Fund?

Bandhan Innovation Fund's largest holdings are Eternal Limited (6.4%), One 97 Communications Limited (5.0%), Bajaj Finserv Limited (3.7%), ICICI Bank Limited (3.2%) and Meesho Ltd (2.8%). Holdings are disclosed monthly and change over time.

How risky is Bandhan Innovation Fund?

Bandhan Innovation Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.0% and its worst peak-to-trough fall in our sample was -19.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Bandhan Innovation Fund?

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

Who manages Bandhan Innovation Fund?

Bandhan Innovation Fund is managed by Manish Gunwani, Prateek Poddar and Brijesh Shah at Bandhan.

How is Bandhan Innovation Fund taxed?

Bandhan 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.