Axis Innovation Fund Direct-Growth

Q: What are the returns of this mutual fund scheme?

The Axis Innovation Fund Direct-Growth is a 5 yrs 1 m old fund and has delivered average annual returns of 13.69% since inception. Axis Innovation Fund Direct-Growth Returns 1-Year 3-Year 5-Year Since Inception 4.27% 17.45% 13.11% 13.69%

Previously called: Axis Special Situations Direct-G

NAV as of Feb 02, 2026	Returns since inception	ET Money Rank	AUM (Fund size)
₹19.31-0.97% 1 day change	13.69% p.a.	App exclusive #NA View Ranked Funds	₹1,196 Cr

Historical NAV & returns

NAV: ₹19.31 as on Feb 02, 2026

This fund Category average

Axis Innovation Fund overview

Expense ratio	1.31% as on Jan 29, 2026
Exit load	1.0% Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months.!
AUM (Fund size)	₹1,196 Cr
Lock-in Period	Nil
Age	5 yrs 1 m since Dec 04, 2020
Benchmark	NIFTY 500 TRI
Min. investment	SIP: ₹500 & Lumpsum: ₹1000
Risk	Very High
Short term capital gains (STCG)	Returns taxed at 20% if you redeem before 1 year
Long term capital gains (LTCG)	After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%

Axis Innovation Fund Returns calculator

Investment type

Monthly investment

₹ 10,000

Investment period

Lumpsum investment

₹1 lakh

Investment period

Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully. Past performance is not an indicator of future returns.

Total investment ₹ 12 lakh
Profit ₹12 lakhs
Total corpus ₹1 lakh
Absolute return 52.69%

Trailing returns as on Feb 03, 2026

Period	This fund	Category average
1 Month	-5.2%	-5.86%
3 Months	-5.85%	-6.31%
6 Months	-1.83%	-2.47%
1 Year	4.27%	4.55%
2 Years	12.49%	6.88%
3 Years	17.45%	16.62%
4 Years	9.83%	12.48%
5 Years	13.11%	15.36%

View returns in detail

Asset allocationas on Dec 31, 2025

Large Cap 33.64%

Mid Cap 28.77%

Small Cap 34.43%

Other Cap 0%

Top holdings

Eternal Ltd.5.9%

Info Edge (India) Ltd.4.15%

Billionbrains Garage Ventures Ltd.3.81%

One97 Communications Ltd.3.81%

Top sectors

Services 36.339999999999996%

Capital Goods 11.829999999999998%

Financial 7.75%

Chemicals 7.529999999999999%

Credit quality

Bifurcation by Credit Quality is not available for this fund

Top Debt Holdings

Others 2.84%

Reserve Bank of India 0.41%

Allocation by Instruments

Foreign - Equity 12.03777539%

CBLO 2.8366583%

ADS/ADR 1.7268349299999999%

Treasury Bills 0.41382512%

Other Holdings

Bifurcation by Holding is not available for this fund

Detailed portfolio analysis

Peer comparison

Fund name	1M	6M	1Y	3Y	5Y	10Y
Axis Innovation Fund	-5.2%	-1.83%	4.27%	17.45%	13.11%	N.A.
ICICI Prudential Manufacturing Fund	-4.29%	0.56%	12.31%	25.11%	23.08%	14.14%
ICICI Prudential Exports and Services Fund	-4.74%	0.97%	9.13%	19.25%	17.99%	14.59%
Sundaram Services Fund	-5.94%	0.44%	9.19%	19.21%	19.1%	14.12%
UTI Transportation and Logistics Fund	-6.66%	6.64%	15.26%	24.57%	19.93%	15.06%
ICICI Prudential Commodities Fund	-1.54%	7.25%	23.21%	20.06%	26.31%	17.25%

Fund name	Std. deviation	Beta	Sharpe	Sortino
Axis Innovation Fund	11.49	0.78	1.01	1.33
ICICI Prudential Manufacturing Fund	15.88	1.05	1.12	1.61
ICICI Prudential Exports and Services Fund	11.2	0.83	1.13	2.19
Sundaram Services Fund	12.28	0.88	1.03	1.69
UTI Transportation and Logistics Fund	15.99	0.9	1.07	1.39
ICICI Prudential Commodities Fund	14.62	0.95	0.94	1.44

Fund name	ETM Rank	AUM	Fund age	Expense ratio
Axis Innovation Fund	N.A.	1,196 Cr	5 yrs 1 m	1.31%
ICICI Prudential Manufacturing Fund	N.A.	6,549 Cr	7 yrs 4 m	0.79%
ICICI Prudential Exports and Services Fund	N.A.	1,434 Cr	13 yrs 1 m	1.67%
Sundaram Services Fund	N.A.	4,809 Cr	7 yrs 5 m	0.68%
UTI Transportation and Logistics Fund	N.A.	4,084 Cr	13 yrs 1 m	0.83%
ICICI Prudential Commodities Fund	N.A.	3,409 Cr	6 yrs 4 m	1.0%

View all Thematic funds

Key risk & return ratios Compared to other funds in the category

Alpha	3.82 vs. 1.81 Higher outperformance against benchmark
Sharpe	1.01 vs. 2.69 Poor risk-adjusted returns
Beta	0.78 vs. 0.36 More sensitive to market's ups & downs
Standard deviation	11.49 vs. 4.47 More volatile performance

About this fund

About Axis Innovation Fund

Axis Innovation Fund Direct-Growth is a Thematic mutual fund scheme from Axis Mutual Fund. This fund has been in existence for 5 yrs 1 m, having been launched on 04/12/2020. Axis Innovation Fund Direct-Growth has ₹1,196 Crores worth of assets under management (AUM) as on 31/12/2025 and is medium-sized fund of its category. The latest Net Asset Value (NAV) of Axis Innovation Fund Direct-Growth as of 02/02/2026 is ₹19.31. The fund has an expense ratio of 1.31%, which is higher than what most other Thematic funds charge.

Axis Innovation Fund Direct-Growth returns of last 1-year are 4.35%. Since launch, it has delivered 13.74% average annual returns.
Axis Innovation Fund Direct-Growth scheme's ability to deliver returns consistently is in-line with most funds of its category. Its ability to control losses in a falling market is average.
The fund has the majority of its money invested in Services, Capital Goods, Financial, Chemicals, Technology sectors. It has taken less exposure in Services, Capital Goods sectors compared to other funds in the category.
The fund's top 5 holdings are in Eternal Ltd., Info Edge (India) Ltd., Billionbrains Garage Ventures Ltd., One97 Communications Ltd., PB Fintech Ltd..

...

Fund AUM	1,196 Cr as on Dec 31, 2025
Scheme document	View Scheme Document

Fund managers

Ashish Naik

Mr. Naik is a B.E from Mumbai University and MBA from XLRI, Jamshedpur. Prior to joining Axis Mutual Fund he was associated with organizations such as Goldman Sachs and has over 7 years of experience as an Equity Analyst.

Investment objective

The Scheme seeks to generate long term capital appreciation by investing in equity & equity related securities of companies that are benefiting from innovative change (innovators, enablers, adaptors).

Axis Mutual Fund details

No. of schemes	70 view all schemes
Total AUM	3,65,749 Cr as on Dec 31, 2025
Address	23rd Floor, One Lodha Place, S. B. Road, Lower Parel. Mumbai, 400013
Phone	022-24255161

More funds from Axis Mutual Fund

Fund name	ETM Rank	AUM	1Y	5Y
Axis Small Cap Fund	N.A.	26,547 Cr	1.39%	20.67%
Axis Large & Mid Cap Fund	N.A.	15,616 Cr	7.45%	17.75%
Axis Midcap Fund	N.A.	31,717 Cr	7.26%	17.21%
Axis Global Equity Alpha FoF	N.A.	1,441 Cr	25.11%	16.6%
Axis Nifty Midcap 50 Index Fund	N.A.	584 Cr	11.91%	N.A.
Axis Value Fund	N.A.	1,372 Cr	10.19%	N.A.

See all Equity funds from this AMC

Frequently asked questions

What is the current NAV of Axis Innovation Fund Direct-Growth?

The current Net Asset Value (NAV) of the Axis Innovation Fund - Direct Growth plan is approximately ₹19.31 as of Feb 02, 2026.

What are the returns of this mutual fund scheme?

The Axis Innovation Fund Direct-Growth is a 5 yrs 1 m old fund and has delivered average annual returns of 13.69% since inception.

Axis Innovation Fund Direct-Growth Returns

1-Year	3-Year	5-Year	Since Inception
4.27%	17.45%	13.11%	13.69%

How much does this mutual fund charge as expense ratio?

The Axis Innovation Fund - Direct Growth has an expense ratio of 1.31%, representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

What is the AUM or fund size of this mutual fund?

The Axis Innovation Fund currently has assets under management (AUM) or fund size valued at approximately 1,196 Cr as on Dec 31, 2025.

What are the top stock holdings of Axis Innovation Fund?

The Axis Innovation Fund has invested the majority of its money in the stocks of the following companies -

Company	Percentage of Portfolio
Eternal Ltd.	5.9%
Info Edge (India) Ltd.	4.15%
Billionbrains Garage Ventures Ltd.	3.81%
One97 Communications Ltd.	3.81%
PB Fintech Ltd.	3.34%
FSN E-Commerce Ventures Ltd.	2.64%
Affle (India) Ltd.	2.63%
Lenskart Solutions Ltd.	2.27%
BlackBuck Ltd.	2.21%
Bajaj Finserv Ltd.	2.12%

What are the top sectors Axis Innovation Fund has invested in?

The Axis Innovation Fund has primarily invested in the following sectors

Sector	Percentage of Portfolio
Services	36.339999999999996%
Capital Goods	11.829999999999998%
Financial	7.75%
Chemicals	7.529999999999999%
Technology	7.1899999999999995%
Automobile	6.119999999999999%
Healthcare	5.68%
Metals & Mining	4.180000000000001%
Consumer Discretionary	3.9299999999999997%
Communication	2.58%

What is risk level of Axis Innovation Fund?

This is a Thematic fund comes with Very High risk.

Is there any lock-in period in this mutual fund?

No, this fund does not have any lock-in period.

How do I invest in Axis Innovation Fund Direct-Growth?

It is very fast, easy, and completely paperless in this mutual fund scheme on ET Money. The whole process takes just a few minutes. Here's how it works:

For the Desktop Version:

Click on the "Invest Now" button at the top right, then scan the QR code to download the app.

For the Mobile Version:

Click on the "Invest on App" button at the bottom to download the app.
Once the app is downloaded:
Sign-up and complete your one time KYC process, or log in if you're already registered.
Search for Axis Innovation Fund - Direct Growth, select your investment mode (lump sum or SIP), and enter the investment amount.
Provide the required details, including the bank account you'll use for payment, and confirm your investment.

That's it. Your investment in the Axis Innovation Fund is complete.

How can I redeem my investments in Axis Innovation Fund?

Redeeming your investments in the Axis Innovation Fund is simple. If you have invested via ET Money, just log in to the app, go to the holdings section, and submit the redemption request.

If you have invested from anywhere else, you can go to the fund house website and put a request through it.

ET Money rank

App exclusive

in Thematic

#NA

Return Outperformance: This fund has generated highest return amongst Thematic funds in the last 3 Years.
Return/Risk: For every unit of risk this fund takes, it produces 20% more returns.
Return Consistency: This fund ranks lower in terms of generating consistent return in it's category.
Chance: This fund has generated only 14.18% annual return in 70% of times for investors holding for at least 5 years.
Exit Load: Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months.