Bandhan Innovation Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Bandhan Innovation Fund is a Thematic fund run by Bandhan Mutual Fund. On 31-08-2026, it managed ₹2,957 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 9.9% and its Regular plan returned 8.4%. Its benchmark, Nifty 500 TRI, returned −7.3% over the same year.

NAV (Direct plan): ₹15.39; ▼ 0.76%30-10-2026
NAV (Regular plan): ₹14.82; ▼ 0.77%30-10-2026
Expense ratio: 0.90%Direct2.26%Regular; 0.90%; A year
Riskometer: Very High; Set by the fund house
1 year return: 9.9%Direct8.4%Regular; 9.9%; Total

Bandhan Innovation Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹15.39 (down 0.76% that day); Regular Plan Growth ₹14.82 (down 0.77% that day).

This fund (Direct plan)

₹15.391

Bandhan Innovation Fund Returns vs Nifty 500 TRI

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

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−2.35%	+0.59%	+12.58%	+9.94%	--	--	--
This fund (Regular)	−2.47%	+0.24%	+11.78%	+8.39%	--	--	--
Nifty 500 TRI	−0.75%	−6.05%	−2.83%	−7.34%	+10.22%	+8.81%	+12.51%
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 Thematic	122/235	26/232	19/232	30/215	--	--	--

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

Bandhan Innovation Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty 500 TRI
2026to date	+12.81%	+11.49%	−7.51%
2025	+4.81%	+3.25%	+7.76%

Bandhan Innovation 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 376 periods, one for each trading day from 02-05-2025 to 30-10-2026.

−10%0%10%20%30%40%

Jun 2024
to
Jun 2025Sept 2024
to
Sept 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 2026

Bandhan Innovation Fund (Direct)Nifty 500 TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	376	13.9%	1.3%	30.2%	0%	3.1%	94%
2 years	124	15.2%	9.2%	21.1%	0%	1.5%	100%

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 500 TRI over the same days. Past returns do not promise future returns.

Bandhan Innovation Fund Risk

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

Risk and return

Measure	Bandhan Innovation Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	+9.94%	−7.34%
Standard deviation	16.51%	14.48%
Sharpe ratio	0.28	-0.87
Sortino ratio	0.39	-1.16
Maximum drawdown	−14.3% (30-03-2026)	−14.7% (30-03-2026)
Beta	1.07	1.00
Alpha	+18.10%	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.

Measure	Bandhan Innovation Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	+18.56%	+2.59%
Standard deviation	16.99%	14.78%
Sharpe ratio	0.75	-0.22
Sortino ratio	1.02	-0.30
Maximum drawdown	−19.7% (28-02-2025)	−18.6% (28-02-2025)
Beta	1.06	1.00
Alpha	+16.17%	0.00%

From daily NAVs, 02-05-2024 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.

−20%−15%−10%−5%0%

20252026

Bandhan Innovation Fund (Direct)Nifty 500 TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Bandhan Innovation Fund (Direct)	−19.7%	02-01-2025	28-02-2025	22-07-2025	5 months	−5.9%
Nifty 500 TRI	−18.6%	26-09-2024	28-02-2025	Not yet	--	−8.8%

From the Direct plan's daily NAV since 02-05-2024, adjusted for unit splits, and Nifty 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

Bandhan Innovation Fund vs Other Thematic Funds

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

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
Bandhan Innovation Fund	30/215	2,957	0.90%	+9.94%	--	--	--	--	--

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.

Bandhan Innovation Fund Expense Ratio and Costs

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

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Thematic median	Cost rank (1 = cheapest)
Direct	0.49%	0.10%	0.01%	0.30%	0.90%	1.18%	27/235
Regular	1.67%	0.10%	0.01%	0.48%	2.26%	2.41%	81/235

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 last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	8.39%	9.94%	1.55%	₹1,08,390	₹1,09,940

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.

Bandhan Innovation 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

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 02-05-2024 to 30-10-2026: 30 instalments, ₹3,00,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planBandhan Innovation Fund (Direct)	₹3,00,000	₹3,61,895	₹61,895	15.2%
Regular planBandhan Innovation Fund (Regular)	₹3,00,000	₹3,54,853	₹54,853	13.6%
Nifty 500 TRI	₹3,00,000	₹2,94,109	−₹5,891	−1.5%
Category averageCategory average, 235 Thematic funds	₹3,00,000	₹3,10,871	₹10,871	2.8%

₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L

20252026

Direct planBandhan Innovation Fund (Direct)Regular planBandhan Innovation Fund (Regular)Nifty 500 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.

Bandhan Innovation Fund Asset Allocation

Asset allocation as on 31-08-2026

What the fund holds

99.0%Equity

Asset	Fund	Category
Equity	99.0%	94.5%
Cash and others	1.0%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	34.6%	45.7%
Mid Cap	23.6%	19.6%
Small Cap	37.4%	24.1%
Not on AMFI's list	3.4%	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.

Bandhan Innovation Fund Sector Allocation

Sector allocation of the fund's stocks as on 31-08-2026

Largest sectors

Retailing12.2%
Pharmaceuticals & Biotechnology9.3%
Finance6.8%
Financial Technology (Fintech)5.0%
Consumer Durables4.9%
Automobiles4.9%
Electrical Equipment4.2%
Banks4.0%
IT - Software4.0%
Healthcare Services3.7%

The ten largest of 35 sectors. The other 25 add up to 39.9%.

Bandhan Innovation Fund Portfolio Holdings

As on 31-08-2026 · 83 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%
Eternal Limited	Retailing	6.43%
One 97 Communications Limited	Financial Technology (Fintech)	5.02%
Bajaj Finserv Limited	Finance	3.72%
ICICI Bank Limited	Banks	3.16%
Meesho Ltd	Retailing	2.80%
AstraZeneca Pharma India Limited	Pharmaceuticals & Biotechnology	2.72%
Coforge Limited	IT - Software	2.41%
Mahindra & Mahindra Limited	Automobiles	2.33%
Honasa Consumer Limited	Personal Products	2.28%
Reliance Industries Limited	Petroleum Products	2.23%
Sterlite Technologies Limited	Telecom - Equipment & Accessories	2.00%
Poonawalla Fincorp Limited	Finance	1.88%
Divi's Laboratories Limited	Pharmaceuticals & Biotechnology	1.79%
Jubilant Ingrevia Limited	Chemicals & Petrochemicals	1.79%
E2E Networks Limited	IT - Services	1.70%
Bharat Electronics Limited	Aerospace & Defense	1.70%
MTAR Technologies Limited	Electrical Equipment	1.66%
Billionbrains Garage Ventures Ltd	Capital Markets	1.58%
Amber Enterprises India Limited	Consumer Durables	1.56%
GE Vernova T&D India Limited	Electrical Equipment	1.51%
Dr Agarwals Health Care Limited	Healthcare Services	1.51%
Info Edge (India) Limited	Retailing	1.37%
Varun Beverages Limited	Beverages	1.34%
Tilaknagar Industries Limited	Beverages	1.18%
Cholamandalam Investment and Finance Company Ltd	Finance	1.17%
TVS Motor Company Limited	Automobiles	1.13%
Trent Limited	Retailing	1.08%
Saregama India Limited	Entertainment	1.08%
Prestige Estates Projects Limited	Realty	1.07%
NTPC Limited	Power	1.06%
Vintage Coffee And Beverages Limited	Agricultural Food & other Products	1.04%
Glenmark Pharmaceuticals Limited	Pharmaceuticals & Biotechnology	1.03%
TD Power Systems Limited	Electrical Equipment	1.03%
ZF Commercial Vehicle Control Systems India Limited	Auto Components	1.01%
Craftsman Automation Limited	Auto Components	1.00%
Bluestone Jewellery and Lifestyle Limited	Consumer Durables	0.95%
Adani Ports and Special Economic Zone Limited	Transport Infrastructure	0.94%
Tech Mahindra Limited	IT - Software	0.90%
Torrent Pharmaceuticals Limited	Pharmaceuticals & Biotechnology	0.90%
PhysicsWallah Limited	Other Consumer Services	0.90%
The Indian Hotels Company Limited	Leisure Services	0.89%
Godrej Properties Limited	Realty	0.87%
Lalithaa Jewellery Mart Ltd	Consumer Durables	0.87%
Affle 3i Limited	IT - Services	0.86%
HDFC Bank Limited	Banks	0.85%
Amagi Media Labs Limited	IT - Services	0.85%
Vedanta Aluminium Metal Limited	Non - Ferrous Metals	0.84%
Multi Commodity Exchange of India Limited	Capital Markets	0.83%
Canara HSBC Life Insurance company Ltd	Insurance	0.83%
HEG Limited	Industrial Products	0.83%
Sona BLW Precision Forgings Limited	Auto Components	0.81%
Eicher Motors Limited	Automobiles	0.80%
Thangamayil Jewellery Limited	Consumer Durables	0.79%
Biocon Limited	Pharmaceuticals & Biotechnology	0.79%
Jubilant Pharmova Limited	Pharmaceuticals & Biotechnology	0.79%
KFin Technologies Limited	Capital Markets	0.78%
Sai Life Sciences Limited	Pharmaceuticals & Biotechnology	0.78%
Max Financial Services Limited	Insurance	0.78%
Fortis Healthcare Limited	Healthcare Services	0.78%
Infosys Limited	IT - Software	0.70%
Rashi Peripherals Limited	IT - Hardware	0.70%
ETHOS LTD.	Consumer Durables	0.65%
Tega Industries Limited	Industrial Manufacturing	0.64%
Ather Energy Limited	Automobiles	0.64%
Afcom Holdings Limited	Transport Services	0.63%
Manipal Health Enterprises Ltd	Healthcare Services	0.60%
Kusumgar Limited	Textiles & Apparels	0.59%
3M India Limited	Diversified	0.57%
Cohance Lifesciences Limited	Pharmaceuticals & Biotechnology	0.55%
Usha Martin Limited	Industrial Products	0.51%
Electronics Mart India Limited	Retailing	0.51%
Suraksha Diagnostic Limited	Healthcare Services	0.51%
Ideaforge Technology Limited	Aerospace & Defense	0.49%
Vedanta Power Ltd	Power	0.46%
KRN Heat Exchanger And Refrigeration Limited	Industrial Products	0.45%
Power Mech Projects Limited	Construction	0.43%
Black Buck Ltd	Transport Services	0.41%
Jubilant Foodworks Limited	Leisure Services	0.39%
Shiprocket Limited	Transport Services	0.31%
Nephrocare Health Services Ltd	Healthcare Services	0.29%
Tube Investments of India Limited	Auto Components	0.19%
Optiemus Infracom Ltd	Telecom - Equipment & Accessories	0.10%
Stove Kraft Limited	Consumer Durables	0.10%

Bandhan Innovation Fund Stocks Bought and Sold

August 2026 is the first month we hold for this fund, so there is no earlier month to compare it with.

What Bandhan Innovation Fund bought and sold

Bandhan Innovation Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
Bandhan Large Cap FundLarge Cap · Bandhan	43.0%	43	Compare
Bandhan Aggressive Hybrid FundAggressive Hybrid · Bandhan	42.7%	53	Compare
Canara Robeco Flexi Cap FundFlexi Cap · Canara Robeco	30.3%	25	Compare
Helios Flexi Cap FundFlexi Cap · Helios	29.8%	20	Compare
PGIM India Flexi cap fundFlexi Cap · PGIM India	28.9%	28	Compare
Nippon India Innovation FundThematic · Nippon India	28.8%	24	Compare
Union Innovation & Opportunities FundThematic · Union	28.6%	20	Compare
Axis Multicap FundMulti Cap · Axis	27.6%	30	Compare

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.

Bandhan Innovation Fund Overview

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

Expense ratio (Direct): 0.90%
Expense ratio (Regular): 2.26%
Category: Thematic
Risk: Very High
Benchmark: Nifty 500 TRI
Launch date: 30-04-2024
Minimum investment: ₹1,000
Minimum additional investment: ₹1,000
AUM: ₹2,957.35 Cr (31-08-2026)
Lock in: None
Scheme code (Direct): 152607
ISIN (Direct): INF194KB1IE2
Scheme code (Regular): 152606
ISIN (Regular): INF194KB1IB8
NAV history: From 02-05-2024, 2.5 years

Exit load: Exit load of 0.50%, if redeemed within 30 days.

Tax on Bandhan Innovation Fund returns

Bandhan Innovation 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

Plan	Option	NAV	As on
direct	Growth	₹15.391	30-10-2026
direct	IDCW	₹14.442	30-10-2026
regular	Growth	₹14.823	30-10-2026
regular	IDCW	₹13.909	30-10-2026

About Bandhan Innovation Fund

Bandhan Innovation Fund is a mutual fund from Bandhan Mutual Fund. Its category is Thematic. It was launched on 30-04-2024. Its benchmark is Nifty 500 TRI. At the end of August 2026 it held 83 securities.

Fund Manager

Manish Gunwani
Fund manager of Bandhan Innovation Fund, since 30-04-2024
Brijesh Shah
Fund manager of Bandhan Innovation Fund, since 30-04-2024
Prateek Poddar
Fund manager of Bandhan Innovation Fund, since 07-06-2024

See all funds of Bandhan Mutual Fund

AUM change

August 2026: ₹2,957.35 Cr; First month on file

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

Compare Bandhan Innovation Fund with Other Funds

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

Bandhan Innovation vs Nippon India Taiwan EquityThematic
Bandhan Innovation vs HDFC DefenceThematic
Bandhan Innovation vs HDFC Pharma and HealthcareThematic
Bandhan Innovation vs SBI Healthcare OpportunitiesThematic
Bandhan Innovation vs Aditya Birla Sun Life International EquityThematic
Bandhan Innovation vs Bandhan Large Cap43.0% overlap
Bandhan Innovation vs Bandhan Aggressive Hybrid42.7% overlap
Bandhan Innovation vs Canara Robeco Flexi Cap30.3% overlap

Compare with any other fund

Frequently Asked Questions for Bandhan Innovation Fund

What is the current NAV of Bandhan Innovation Fund?

The Direct plan NAV is ₹15.391. The Regular plan NAV is ₹14.823, as on 30-10-2026.

What are the returns of Bandhan Innovation Fund?

The Direct plan returned +9.94% in 1 year. The Regular plan returned +8.39% in 1 year. These figures are as on 30-10-2026.

What is the expense ratio of Bandhan Innovation Fund?

The Direct plan charges 0.90% a year. The Regular plan charges 2.26% a year. This is the figure the fund house reported to AMFI, in force from 22-10-2026.

What is the AUM of Bandhan Innovation Fund?

Bandhan Innovation Fund managed ₹2,957.35 Cr on 31-08-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Bandhan Innovation Fund?

At the end of August 2026 the largest holdings were ETERNAL (6.43%), PAYTM (5.02%), BAJAJFINSV (3.72%), ICICIBANK (3.16%), MEESHO (2.80%). The fund held 83 securities in all.

How do I invest in Bandhan Innovation Fund?

Through Bandhan 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 ₹1,000. You can invest once or through a monthly SIP.

Who is the fund manager of Bandhan Innovation Fund?

Manish Gunwani (since 30-04-2024), Brijesh Shah (since 30-04-2024), Prateek Poddar (since 07-06-2024).

What is the exit load of Bandhan Innovation Fund?

Exit load of 0.50%, if redeemed within 30 days.

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.