Nippon India Innovation Fund is a Thematic fund run by Nippon India Mutual Fund. On 30-09-2026, it managed ₹2,923 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 12.8% a year and its Regular plan returned 11.4% a year. Its benchmark, Nifty 500 TRI, returned 10.2% a year over the same 3 years.
NAV (Direct plan)
₹14.35
▼ 0.53% · 30-10-2026
NAV (Regular plan)
₹13.77
▼ 0.53% · 30-10-2026
Expense ratio
0.90%Direct2.11%Regular
0.90%
A year
Riskometer
Very High
Set by the fund house
3 year return
12.8%Direct11.4%Regular
12.8%
A year
Nippon India Innovation Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹14.35 (down 0.53% that day); Regular Plan Growth ₹13.77 (down 0.53% that day).
This fund (Direct plan)
₹14.3542
Nippon India 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)
−3.60%
−5.91%
+0.65%
−5.09%
+12.84%
--
--
This fund (Regular)
−3.70%
−6.19%
+0.04%
−6.27%
+11.38%
--
--
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%
+13.76%
--
--
Best in Thematic
+11.54%
+11.27%
+22.16%
+75.71%
+54.78%
--
--
Worst in Thematic
−16.05%
−11.74%
−13.97%
−22.44%
−4.46%
--
--
Rank in Thematic
168/235
134/232
101/232
124/215
68/133
--
--
Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.
Nippon India Innovation Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
Nifty 500 TRI
2026to date
−2.92%
−3.91%
−7.51%
2025
+6.82%
+5.41%
+7.76%
2024
+21.85%
+20.25%
+16.24%
Nippon India 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 3-year holding period, plotted on the day it ended. There are 39 periods, one for each trading day from 01-09-2026 to 30-10-2026.
0%5%10%15%20%
Nippon India Innovation Fund (Direct)
Nifty 500 TRI
Sept 2023 to Sept 2026Sept 2023 to Sept 2026Sept 2023 to Sept 2026Oct 2023 to Oct 2026Oct 2023 to Oct 2026Oct 2023 to Oct 2026
Nippon India Innovation Fund (Direct)Nifty 500 TRI
0%
0%
Below 0%
0%
0%
0-5%
0%
49%
5-10%
82%
51%
10-15%
18%
0%
15-20%
0%
0%
20-25%
0%
0%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
533
6.4%
−7.7%
51.7%
7%
5.4%
79%
2 years
286
7.3%
−1.7%
23.4%
4%
5.5%
97%
3 years
39
13.8%
11.4%
16.0%
0%
10.0%
100%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
26
9.9%
−19.8%
52.8%
31%
4.1%
65%
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.
Nippon India Innovation Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
Nippon India Innovation Fund (Direct)This fund
Nifty 500 TRI
Return (CAGR)
−5.09%
−7.34%
Standard deviation
16.17%
14.48%
Sharpe ratio
-0.64
-0.87
Sortino ratio
-0.86
-1.16
Maximum drawdown
−16.4%
(31-03-2026)
−14.7%
(30-03-2026)
Beta
1.04
1.00
Alpha
+2.79%
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
Nippon India Innovation Fund (Direct)This fund
Nifty 500 TRI
Return (CAGR)
+12.84%
+10.22%
Standard deviation
14.35%
14.30%
Sharpe ratio
0.47
0.29
Sortino ratio
0.65
0.40
Maximum drawdown
−21.5%
(03-03-2025)
−18.6%
(28-02-2025)
Beta
0.91
1.00
Alpha
+2.98%
0.00%
From daily NAVs, 30-10-2023 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
Nippon India Innovation Fund (Direct)This fund
Nifty 500 TRI
Return (CAGR)
+11.81%
+9.19%
Standard deviation
14.13%
14.14%
Sharpe ratio
0.41
0.22
Sortino ratio
0.55
0.30
Maximum drawdown
−21.5%
(03-03-2025)
−18.6%
(28-02-2025)
Beta
0.91
1.00
Alpha
+2.90%
0.00%
From daily NAVs, 01-09-2023 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%
Nippon India Innovation Fund (Direct)
Nifty 500 TRI
202420252026
Nippon India Innovation Fund (Direct)Nifty 500 TRI
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
Nippon India Innovation Fund (Direct)
−21.5%
26-09-2024
03-03-2025
03-08-2026
17 months
−10.1%
Nifty 500 TRI
−18.6%
26-09-2024
28-02-2025
Not yet
--
−8.8%
From the Direct plan's daily NAV since 01-09-2023, 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.
Nippon India Innovation Fund vs Other Thematic Funds
The five Thematic funds with the best three year return, and this fund. Direct plans.
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.
Nippon India Innovation Fund Expense Ratio and Costs
What each plan charges a year, in force from 21-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Thematic median
Cost rank (1 = cheapest)
Direct
0.61%
0.06%
0.00%
0.23%
0.90%
1.18%
27/235
Regular
1.69%
0.06%
0.00%
0.36%
2.11%
2.41%
45/235
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
−6.27%
−5.09%
1.18%
₹93,730
₹94,910
3 years
11.38%
12.84%
1.46% a year
₹1,38,173
₹1,43,678
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.
Nippon India 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
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 01-09-2023 to 30-10-2026: 38 instalments, ₹3,80,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planNippon India Innovation Fund (Direct)
₹3,80,000
₹4,08,950
₹28,950
4.6%
Regular planNippon India Innovation Fund (Regular)
Direct planNippon India Innovation Fund (Direct)Regular planNippon India 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.
Nippon India Innovation Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
97.5%Equity
Asset
Fund
Category
Equity
97.5%
94.5%
Cash and others
2.5%
4.0%
Market cap of stocks
Market cap
Fund
Category
Large Cap
38.2%
45.7%
Mid Cap
33.3%
19.6%
Small Cap
24.0%
24.1%
Not on AMFI's list
2.0%
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.
Nippon India Innovation Fund Sector Allocation
Sector allocation of the fund's stocks as on 30-09-2026
Largest sectors
Retailing21.9%
Auto Components7.4%
Banks6.8%
Electrical Equipment6.2%
Insurance4.8%
Leisure Services4.5%
Consumer Durables4.2%
Financial Technology (Fintech)4.1%
Pharmaceuticals & Biotechnology4.1%
Transport Services4.0%
The ten largest of 25 sectors. The other 15 add up to 29.5%.
Sector changes
Sector
July 2026
August 2026
September 2026
Change
Retailing
22.4%
22.8%
21.9%
−0.4%
Auto Components
8.6%
8.2%
7.4%
−1.2%
Banks
4.9%
4.8%
6.8%
+1.9%
Electrical Equipment
6.2%
6.2%
6.2%
0.0%
Insurance
3.6%
3.4%
4.8%
+1.2%
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.
Nippon India Innovation Fund Portfolio Holdings
As on 30-09-2026 · 57 holdings · from the fund house's monthly portfolio
Holdings
Sector
Weight%
Holdings trend
1M change
Eternal Limited
Retailing
5.22%
0.0%
Info Edge (India) Limited
Retailing
4.64%
0.0%
Trent Limited
Retailing
3.54%
0.0%
Varun Beverages Limited
Beverages
3.47%
0.0%
Samvardhana Motherson International Limited
Auto Components
3.17%
0.0%
3M India Limited
Diversified
3.16%
0.0%
Swiggy Limited
Retailing
2.91%
0.0%
ZF Commercial Vehicle Control Systems India Limited
Auto Components
2.71%
0.0%
Avenue Supermarts Limited
Retailing
2.56%
0.0%
Axis Bank Limited
Banks
2.52%
0.0%
One 97 Communications Limited
Financial Technology (Fintech)
2.51%
0.0%
ICICI Bank Limited
Banks
2.26%
0.0%
Siemens Energy India Limited
Electrical Equipment
2.19%
0.0%
ICICI Lombard General Insurance Company Limited
Insurance
2.18%
+33.3%
Kirloskar Oil Engines Limited
Industrial Products
2.11%
0.0%
FSN E-Commerce Ventures Limited
Retailing
2.05%
−21.1%
LG Electronics India Ltd
Consumer Durables
2.03%
0.0%
HDFC Bank Limited
Banks
2.02%
New
Hindustan Aeronautics Limited
Aerospace & Defense
2.00%
0.0%
Sun Pharmaceutical Industries Limited
Pharmaceuticals & Biotechnology
1.86%
0.0%
Coforge Limited
IT - Software
1.80%
0.0%
Honasa Consumer Limited
Personal Products
1.79%
0.0%
Max Financial Services Limited
Insurance
1.77%
+91.0%
ABB India Limited
Electrical Equipment
1.74%
0.0%
InterGlobe Aviation Limited
Transport Services
1.73%
0.0%
Syngene International Limited
Healthcare Services
1.64%
0.0%
PB Fintech Limited
Financial Technology (Fintech)
1.62%
+40.0%
TBO Tek Limited
Leisure Services
1.56%
0.0%
Siemens Limited
Electrical Equipment
1.55%
0.0%
Dixon Technologies (India) Limited
Consumer Durables
1.42%
0.0%
Shiprocket Limited
Transport Services
1.27%
0.0%
Sanofi Consumer Healthcare India Limited
Pharmaceuticals & Biotechnology
1.26%
0.0%
Multi Commodity Exchange of India Limited
Capital Markets
1.19%
0.0%
Restaurant Brands Asia Limited
Leisure Services
1.18%
0.0%
Jubilant Foodworks Limited
Leisure Services
1.17%
0.0%
Tata Motors Passenger Vehicles Limited
Automobiles
1.14%
0.0%
JSW Energy Limited
Power
1.14%
+80.4%
Timken India Limited
Industrial Products
1.07%
0.0%
Kaynes Technology India Limited
Industrial Manufacturing
1.03%
0.0%
Meesho Ltd
Retailing
1.03%
−26.5%
Billionbrains Garage Ventures Ltd
Capital Markets
1.01%
0.0%
Delhivery Limited
Transport Services
1.01%
0.0%
Divi's Laboratories Limited
Pharmaceuticals & Biotechnology
1.00%
0.0%
Rainbow Childrens Medicare Limited
Healthcare Services
1.00%
0.0%
PhysicsWallah Limited
Other Consumer Services
0.98%
New
Tube Investments of India Limited
Auto Components
0.96%
0.0%
KFin Technologies Limited
Capital Markets
0.95%
0.0%
eMudhra Limited
IT - Services
0.94%
0.0%
Krishna Institute Of Medical Sciences Limited
Healthcare Services
0.91%
−36.1%
Bajaj Auto Limited
Automobiles
0.90%
0.0%
Niva Bupa Health Insurance Company Limited
Insurance
0.83%
0.0%
Kansai Nerolac Paints Limited
Consumer Durables
0.78%
0.0%
Molbio Diagnostics Limited
Healthcare Equipment & Supplies
0.73%
−3.9%
GE Vernova T&D India Limited
Electrical Equipment
0.67%
0.0%
Sapphire Foods India Limited
Leisure Services
0.55%
0.0%
Cholamandalam Investment and Finance Company Ltd
Finance
0.55%
New
Craftsman Automation Limited
Auto Components
0.54%
0.0%
Nippon India Innovation Fund Stocks Bought and Sold
All changes are between August 2026 and September 2026
More
Stocks bought and sold in September 2026
FSN E-Commerce Ventures Limited
↓Reduced
−21.1%
2.05%
Bajaj Finserv Limited
↓Sold out
−100%
was 2.53%
ICICI Lombard General Insurance Company Limited
↑Added
+33.3%
2.18%
HDFC Bank Limited
↑New
New
2.02%
Infosys Limited
↓Sold out
−100%
was 2.01%
PB Fintech Limited
↑Added
+40.0%
1.62%
Max Financial Services Limited
↑Added
+91.0%
1.77%
Krishna Institute Of Medical Sciences Limited
↓Reduced
−36.1%
0.91%
Meesho Ltd
↓Reduced
−26.5%
1.03%
JSW Energy Limited
↑Added
+80.4%
1.14%
PhysicsWallah Limited
↑New
New
0.98%
Motherson Sumi Wiring India Limited
↓Sold out
−100%
was 0.76%
Molbio Diagnostics Limited
↓Reduced
−3.9%
0.73%
Cholamandalam Investment and Finance Company Ltd
↑New
New
0.55%
Sanofi India Limited
↓Sold out
−100%
was 0.42%
Urban Company Ltd.
↓Sold out
−100%
was 0.03%
No stocks in this group for September 2026.
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.
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.
Nippon India Innovation Fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
0.90%
Expense ratio (Regular)
2.11%
Category
Thematic
Risk
Very High
Benchmark
Nifty 500 TRI
Launch date
28-08-2023
Minimum investment
₹100
Minimum additional investment
₹100
AUM
₹2,923.04 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
152033
ISIN (Direct)
INF204KC1BO3
Scheme code (Regular)
152034
ISIN (Regular)
INF204KC1BL9
NAV history
From 01-09-2023, 3.2 years
Exit load
Exit load of 1%, if redeemed within 1 year.
Tax on Nippon India Innovation Fund returns
Nippon India 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
₹14.3542
30-10-2026
direct
IDCW
₹14.3542
30-10-2026
regular
Growth
₹13.7727
30-10-2026
regular
IDCW
₹13.7727
30-10-2026
About Nippon India Innovation Fund
Nippon India Innovation Fund is a mutual fund from Nippon India Mutual Fund. Its category is Thematic. It was launched on 28-08-2023. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 57 securities.
Fund Manager
Vinay Sharma
Fund manager of Nippon India Innovation Fund, since 01-08-2023
Rishit Parikh
Fund manager of Nippon India Innovation Fund, since 01-08-2024
Frequently Asked Questions for Nippon India Innovation Fund
What is the current NAV of Nippon India Innovation Fund?
The Direct plan NAV is ₹14.3542. The Regular plan NAV is ₹13.7727, as on 30-10-2026.
What are the returns of Nippon India Innovation Fund?
The Direct plan returned −5.09% in 1 year, +12.84% a year over 3 years. The Regular plan returned −6.27% in 1 year, +11.38% a year over 3 years. These figures are as on 30-10-2026.
What is the expense ratio of Nippon India Innovation Fund?
The Direct plan charges 0.90% a year. The Regular plan charges 2.11% a year. This is the figure the fund house reported to AMFI, in force from 21-10-2026.
What is the AUM of Nippon India Innovation Fund?
Nippon India Innovation Fund managed ₹2,923.04 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of Nippon India Innovation Fund?
At the end of September 2026 the largest holdings were ETERNAL (5.22%), NAUKRI (4.64%), TRENT (3.54%), VBL (3.47%), MOTHERSON (3.17%). The fund held 57 securities in all.
What did Nippon India Innovation Fund buy and sell in September 2026?
It bought 3 new stocks: HDFC Bank Limited, PhysicsWallah Limited, Cholamandalam Investment and Finance Company Ltd. It sold out of 5: Infosys Limited, Sanofi India Limited, Urban Company Ltd, Motherson Sumi Wiring India Limited, Bajaj Finserv Limited. It added shares in 4. It reduced 4.
How do I invest in Nippon India Innovation Fund?
Through Nippon India 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 ₹100. You can invest once or through a monthly SIP.
Who is the fund manager of Nippon India Innovation Fund?
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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