Axis Innovation Fund
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).
Growthvine rating: 3/5 — ranked #60 of 186 in category.
Fund basics
| Category | Equity: Thematic |
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| NAV | ₹20.16 (as of 2026-10-22) |
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| AUM | ₹1,345 Cr |
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| Expense ratio | 1.84% |
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| Riskometer | Very High |
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| Fund manager | Ashish Naik |
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| Exit load | For units in excess of 20% of the investment, 1% will be charged for redemption within 12 months |
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Performance & risk
| 5-year annualised return | 10.23% |
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| Sharpe ratio | 0.77 |
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| Standard deviation | 14.77% |
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| Max drawdown | −24.32% |
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| Alpha | 6.03 |
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| Beta | 0.82 |
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Over 5 years, captured 71.6% of Nifty India Digital's upside and 48.1% of its downside.
Market cap allocation
| Large cap | 19.6% |
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| Mid cap | 33.3% |
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| Small cap | 47.1% |
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Concentration
| Top 5 holdings | 17.7% |
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| Top 10 holdings | 29.6% |
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| Total holdings | 78 |
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Top holdings
- Clearing Corporation of India Ltd — 6.9%
- Eternal Limited — 5.0%
- One 97 Communications Limited — 3.6%
- Ather Energy Limited — 3.2%
- Lenskart Solutions Limited — 3.1%
- FSN E-Commerce Ventures Limited — 2.8%
- Aether Industries Limited — 2.7%
- Meesho Limited — 2.4%
- Billionbrains Garage Ventures Limited — 2.3%
- Sona BLW Precision Forgings Limited — 2.3%
Top sectors
- Retail — 17.6%
- Global Equity — 13.4%
- Chemicals — 8.3%
Calendar-year track record
| Year | Return | Quartile | Category rank |
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| 2026 (partial) | 6.1% | Q1 (Top) | #15 of 167 |
| 2025 | 3.2% | Q3 | #74 of 132 |
| 2024 | 27.9% | Q1 (Top) | #11 of 86 |
| 2023 | 23.7% | Q4 (Bottom) | #55 of 66 |
| 2022 | −13.3% | Q4 (Bottom) | #54 of 55 |