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    Axis India Manufacturing Fund

    ThematicDirect and Regular plans, Growth and IDCW options

    Data as on 30-10-2026

    Axis India Manufacturing Fund is a Thematic fund run by Axis Mutual Fund. On 30-09-2026, it managed ₹5,540 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 8.3% and its Regular plan returned 6.9%. Its benchmark, Nifty India Manufacturing TRI, returned −1.7% over the same year.

    NAV (Direct plan)
    ₹15.95
    ▼ 0.68%30-10-2026
    NAV (Regular plan)
    ₹15.34
    ▼ 0.71%30-10-2026
    Expense ratio
    0.93%Direct2.09%Regular
    Riskometer
    Very High
    Set by the fund house
    1 year return
    8.3%Direct6.9%Regular

    Axis India Manufacturing Fund NAV Today

    NAV on 30-10-2026: Direct Plan Growth ₹15.95 (down 0.68% that day); Regular Plan Growth ₹15.34 (down 0.71% that day).

    Axis India Manufacturing Fund Returns vs Nifty India Manufacturing TRI

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Trailing returns
    Period1M3M6M1Y3Y5Y10Y
    This fund (Direct)−3.10%−0.56%+5.70%+8.28%------
    This fund (Regular)−3.16%−0.90%+5.07%+6.90%------
    Nifty India Manufacturing TRI−3.56%−7.50%−3.61%−1.70%+17.16%+14.36%--
    Thematic average−2.09%−4.52%+0.86%−1.22%------
    Best in Thematic+11.54%+11.27%+22.16%+75.71%------
    Worst in Thematic−16.05%−11.74%−13.97%−22.44%------
    Rank in Thematic152/23538/23255/23235/215------

    Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

    Axis India Manufacturing Fund Year-wise Returns

    Return of each calendar year
    YearDirectRegularNifty India Manufacturing TRI
    2026to date+9.70%+8.49%−2.54%
    2025+5.06%+3.74%+12.28%
    2024+35.55%+33.50%+25.99%

    Axis India Manufacturing Fund Rolling Returns

    The return of every holding period in the fund's history, not only the one that ends today

    Rolling returns

    Each point is the yearly return of one 1-year holding period, plotted on the day it ended. There are 460 periods, one for each trading day from 27-12-2024 to 30-10-2026.

    −10%0%10%20%30%40%
    Feb 2024
    to
    Feb 2025
    Jun 2024
    to
    Jun 2025
    Oct 2024
    to
    Oct 2025
    Jan 2025
    to
    Jan 2026
    May 2025
    to
    May 2026
    Sept 2025
    to
    Sept 2026
    Axis India Manufacturing Fund (Direct)Nifty India Manufacturing TRI

    Every holding period at a glance

    PeriodPeriodsMedianLowestHighestWith a lossBenchmark medianBeat benchmark
    1 year4609.5%−5.5%37.7%16%9.4%58%
    2 years2098.7%3.7%20.1%0%7.7%74%

    Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty India Manufacturing TRI over the same days. Past returns do not promise future returns.

    Axis India Manufacturing Fund Risk

    How much it swings, and the falls an investor had to sit through

    Risk and return

    MeasureAxis India Manufacturing Fund (Direct)This fundNifty India Manufacturing TRI
    Return (CAGR)+8.28%−1.70%
    Standard deviation16.09%16.02%
    Sharpe ratio0.19-0.43
    Sortino ratio0.26-0.58
    Maximum drawdown−10.9% (23-10-2026)−12.8% (23-10-2026)
    Beta0.981.00
    Alpha+9.84%0.00%

    From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

    Drawdowns

    How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.

    −25%−20%−15%−10%−5%0%
    202420252026
    Axis India Manufacturing Fund (Direct)Nifty India Manufacturing TRI
    Worst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Axis India Manufacturing Fund (Direct)−23.0%27-09-202428-02-202529-04-202614 months−7.2%
    Nifty India Manufacturing TRI−23.0%27-09-202407-04-202505-01-20269 months−10.5%

    From the Direct plan's daily NAV since 27-12-2023, adjusted for unit splits, and Nifty India Manufacturing TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

    Axis India Manufacturing Fund vs Other Thematic Funds

    The five Thematic funds with the best three year return, and this fund. Direct plans.

    Fund nameRankAUM (Cr)Exp. ratio1Y return3Y return3Y alpha3Y beta3Y Sharpe3Y Sortino
    Nippon India Taiwan Equity Fund1/1331,1471.08%+75.71%+54.78%----1.382.03Compare
    HDFC Defence Fund2/13311,4930.90%+13.79%+34.76%−0.18%0.831.121.54Compare
    HDFC Pharma and Healthcare Fund3/1333,5011.05%+23.12%+30.53%+8.23%0.961.742.49Compare
    SBI Healthcare Opportunities Fund4/1335,8701.01%+17.12%+24.60%+3.61%0.881.422.03Compare
    Aditya Birla Sun Life International Equity Fund5/1333522.00%+13.97%+24.46%----1.492.16Compare
    Axis India Manufacturing Fund35/2155,5400.93%+8.28%----------

    AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

    Axis India Manufacturing Fund Expense Ratio and Costs

    What each plan charges a year, in force from 22-10-2026

    PlanBase expense ratioBrokerageTransaction costsLevies and GSTTotal expense ratioThematic medianCost rank (1 = cheapest)
    Direct0.62%0.07%0.00%0.24%0.93%1.18%38/235
    Regular1.60%0.07%0.00%0.42%2.09%2.41%43/235

    The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

    Direct vs Regular: what the gap cost

    Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

    Over the lastRegularDirectDirect earned more by₹1 lakh became (Regular)₹1 lakh became (Direct)
    1 year6.90%8.28%1.38%₹1,06,900₹1,08,280

    Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

    Axis India Manufacturing Fund SIP Calculator

    What a one-time or monthly investment in this fund would be worth today, from its own NAV history

    Growth of an investment

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 27-12-2023 to 30-10-2026: 35 instalments, ₹3,50,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Direct planAxis India Manufacturing Fund (Direct) ₹3,50,000 ₹4,10,965 ₹60,965 11.1%
    Regular planAxis India Manufacturing Fund (Regular) ₹3,50,000 ₹4,02,561 ₹52,561 9.6%
    Nifty India Manufacturing TRI ₹3,50,000 ₹3,75,833 ₹25,833 4.8%
    Category averageCategory average, 235 Thematic funds ₹3,50,000 ₹3,73,991 ₹23,991 4.5%
    ₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L₹5.0 L
    202420252026
    Direct planAxis India Manufacturing Fund (Direct)Regular planAxis India Manufacturing Fund (Regular)Nifty India Manufacturing TRICategory averageCategory average, 235 Thematic fundsAmount invested

    From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.

    Axis India Manufacturing Fund Asset Allocation

    Asset allocation as on 30-09-2026

    What the fund holds

    96.9%Equity

    AssetFundCategory
    Equity96.9%94.5%
    Cash and others3.1%4.0%

    Market cap of stocks

    Market capFundCategory
    Large Cap50.9%45.7%
    Mid Cap19.0%19.6%
    Small Cap22.6%24.1%
    Not on AMFI's list4.4%2.3%

    Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

    Axis India Manufacturing Fund Sector Allocation

    Sector allocation of the fund's stocks as on 30-09-2026

    Largest sectors

    1. Auto Components15.4%

    2. Pharmaceuticals & Biotechnology14.9%

    3. Electrical Equipment14.5%

    4. Automobiles14.5%

    5. Industrial Products7.4%

    6. Aerospace & Defense5.3%

    7. Consumer Durables4.1%

    8. Petroleum Products3.8%

    9. Ferrous Metals3.6%

    10. Non - Ferrous Metals3.6%

    The ten largest of 17 sectors. The other 7 add up to 9.7%.

    Sector changes

    SectorJuly 2026August 2026September 2026Change
    Auto Components14.8%15.3%15.4%+0.6%
    Pharmaceuticals & Biotechnology14.9%15.0%14.9%0.0%
    Electrical Equipment12.9%14.4%14.5%+1.6%
    Automobiles16.2%15.7%14.5%−1.7%
    Industrial Products7.3%8.1%7.4%+0.1%

    Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

    Axis India Manufacturing Fund Portfolio Holdings

    As on 30-09-2026 · 73 holdings · from the fund house's monthly portfolio

    HoldingsSectorWeight%Holdings trend1M change
    Mahindra & Mahindra LimitedAutomobiles4.82%0.0%
    Sun Pharmaceutical Industries LimitedPharmaceuticals & Biotechnology3.61%0.0%
    Divi's Laboratories LimitedPharmaceuticals & Biotechnology3.57%0.0%
    Sona BLW Precision Forgings LimitedAuto Components3.21%0.0%
    Bharat Electronics LimitedAerospace & Defense2.95%0.0%
    Reliance Industries LimitedPetroleum Products2.81%0.0%
    TVS Motor Company LimitedAutomobiles2.81%0.0%
    Bharat Heavy Electricals LimitedElectrical Equipment2.48%0.0%
    Cummins India LimitedIndustrial Products2.39%0.0%
    Samvardhana Motherson International LimitedAuto Components2.26%0.0%

    Axis India Manufacturing Fund Stocks Bought and Sold

    All changes are between August 2026 and September 2026

    More
    Stocks bought and sold in September 2026
    TD Power Systems LimitedAdded+7.6%2.12%
    Maruti Suzuki India LimitedReduced−10.1%1.76%
    Sansera Engineering LimitedReduced−4.9%2.05%
    Solar Industries India LimitedAdded+19.3%1.78%
    Hindustan Aeronautics LimitedAdded+2.9%1.75%
    Tata Steel LimitedReduced−17.4%1.46%
    Indo-MIM LimitedAdded+4.3%1.49%
    Bharat Forge LimitedAdded+2.0%1.44%
    CG Power and Industrial Solutions LimitedAdded+6.2%1.30%
    JSW Steel LimitedReduced−15.4%1.08%

    A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

    What Axis India Manufacturing Fund bought and sold

    Axis India Manufacturing Fund Portfolio Overlap

    Funds with the most similar portfolios, across every fund house and category

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

    Axis India Manufacturing Fund Overview

    Fund facts from the scheme summary document, as on 16-10-2026

    Expense ratio (Direct)
    0.93%
    Expense ratio (Regular)
    2.09%
    Category
    Thematic
    Risk
    Very High
    Benchmark
    Nifty India Manufacturing TRI
    Launch date
    21-12-2023
    Minimum investment
    ₹500
    Minimum additional investment
    ₹100
    AUM
    ₹5,540.32 Cr (30-09-2026)
    Lock in
    None
    Scheme code (Direct)
    152202
    ISIN (Direct)
    INF846K016S3
    Scheme code (Regular)
    152205
    ISIN (Regular)
    INF846K013S0
    NAV history
    From 27-12-2023, 2.8 years
    Exit load
    Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 Days.

    Tax on Axis India Manufacturing Fund returns

    • Axis India Manufacturing Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
    • Units sold within 1 year: the gain is taxed at 20%.
    • Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
    • IDCW (dividend) payouts are added to your income and taxed at your slab rate.
    • A stamp duty of 0.005% is deducted when you invest.

    Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

    All plans and options

    PlanOptionNAVAs on
    directGrowth₹15.9530-10-2026
    directIDCW₹15.9530-10-2026
    regularGrowth₹15.3430-10-2026
    regularIDCW₹15.3430-10-2026

    About Axis India Manufacturing Fund

    Axis India Manufacturing Fund is a mutual fund from Axis Mutual Fund. Its category is Thematic. It was launched on 21-12-2023. Its benchmark is Nifty India Manufacturing TRI. At the end of September 2026 it held 73 securities.

    Fund Manager

    • Nitin Arora

      Fund manager of Axis India Manufacturing Fund, since 21-12-2023

    See all funds of Axis Mutual Fund

    AUM change

    September 2026
    ₹5,540.32 Cr
    −4.40% from August 2026
    August 2026
    ₹5,795.54 Cr
    +5.49% from July 2026
    July 2026
    ₹5,494.05 Cr
    +2.16% from June 2026

    AUM moves with money invested or taken out, and with the value of what the fund holds.

    Compare Axis India Manufacturing Fund with Other Funds

    Returns, risk, costs and the stocks they share, side by side

    Frequently Asked Questions for Axis India Manufacturing Fund

    What is the current NAV of Axis India Manufacturing Fund?

    The Direct plan NAV is ₹15.95. The Regular plan NAV is ₹15.34, as on 30-10-2026.

    What are the returns of Axis India Manufacturing Fund?

    The Direct plan returned +8.28% in 1 year. The Regular plan returned +6.90% in 1 year. These figures are as on 30-10-2026.

    What is the expense ratio of Axis India Manufacturing Fund?

    The Direct plan charges 0.93% a year. The Regular plan charges 2.09% a year. This is the figure the fund house reported to AMFI, in force from 22-10-2026.

    What is the AUM of Axis India Manufacturing Fund?

    Axis India Manufacturing Fund managed ₹5,540.32 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

    What are the top holdings of Axis India Manufacturing Fund?

    At the end of September 2026 the largest holdings were M&M (4.82%), SUNPHARMA (3.61%), DIVISLAB (3.57%), SONACOMS (3.21%), BEL (2.95%). The fund held 73 securities in all.

    What did Axis India Manufacturing Fund buy and sell in September 2026?

    It bought 1 new stock: Rubicon Research Limited. It sold out of 2: Asian Paints Limited, Supreme Industries Limited. It added shares in 13. It reduced 17.

    How do I invest in Axis India Manufacturing Fund?

    Through Axis Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹500. You can invest once or through a monthly SIP.

    Who is the fund manager of Axis India Manufacturing Fund?

    Nitin Arora (since 21-12-2023).

    Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

    This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.

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