Axis Innovation Fund
Thematic-InnovationVery HighOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹21.71-2.12%1 day
- Return since launch
- 14.8%
- 52-week range
- ₹16.63 — ₹22.18
- AUM
- ₹1,363 Cr
Axis Innovation Fund is a Thematic-Innovation equity fund from Axis Mutual Fund with ₹1,363 Cr under management, launched in 2020. Over three years it has returned 15.6% a year, against 17.1% for its category. The expense ratio is 2.28% and the SEBI riskometer reading is Very High.
Performance
Axis Innovation Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +17.0% against +9.0% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 27.4% | +19.2 pts | 8.2% | 13.9% |
| 2Y | 16.5% | +5.6 pts | 10.9% | 9.9% |
| 3Y | 15.6% | −1.6 pts | 17.1% | 11.3% |
| 5Y | 15.4% | +3.3 pts | 12.1% | 14.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -0.2% | +2.2 pts | -2.4% | -2.9% |
| 3M | 13.2% | +7.4 pts | 5.8% | 4.2% |
| 6M | 24.8% | +4.2 pts | 20.6% | 18.4% |
| 1Y | 14.5% | +6.3 pts | 8.2% | 6.6% |
| 2Y | 5.9% | +3.4 pts | 2.5% | 2.7% |
| 3Y | 17.8% | +0.6 pts | 17.1% | 15.9% |
| 5Y | 10.3% | −1.9 pts | 12.1% | 10.8% |
Since launch (4 Dec 2020): 14.8%
Calendar-year returns
Category average33.6%
-13.3%
23.7%
27.7%
3.2%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 3.2% | +0.8 pts | 2.4% |
| 2024 | 27.7% | −1.1 pts | 28.8% |
| 2023 | 23.7% | −8.4 pts | 32.2% |
| 2022 | -13.3% | −3.8 pts | -9.4% |
| 2021 | 33.6% | −3.4 pts | 37.0% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
2.28%
Expense ratio as on 22 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.83%
- Brokerage
- 0.05%
- Transaction charges
- 0.00%
- Statutory levies
- 0.40%
- Exit load
- Exit Load for units in excess of 20% of the investment,1% will be charged for redemption within 12 months.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 500 TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | 6.03 | 6.83 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.82 | 0.93 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.80 | 0.88 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.26 | 1.09 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 14.66 | 15.10 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
Axis Innovation Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity97.8%
- Debt2.3%
Market cap split
- Large32.3%
- Mid32.2%
- Small35.5%
- P/E
- 16.73
- P/B
- 7.61
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Eternal Ltd. | Services | 5.28% | ₹71.95 Cr | +6.36% | +5.30% | +2.85% |
| One97 Communications Ltd. | Services | 4.13% | ₹56.22 Cr | +3.58% | +3.96% | — |
| Ather Energy Ltd. | Automobile | 3.78% | ₹51.55 Cr | +2.48% | +2.19% | +1.29% |
| Billionbrains Garage Ventures Ltd. | Financial | 3.42% | ₹46.62 Cr | +3.85% | +4.26% | — |
| FSN E-Commerce Ventures Ltd. | Services | 3.05% | ₹41.56 Cr | +2.67% | +2.82% | +1.48% |
| Lenskart Solutions Ltd. | Consumer Discretionary | 2.93% | ₹39.90 Cr | +2.70% | +2.89% | — |
| Aether Industries Ltd. | Chemicals | 2.67% | ₹36.41 Cr | +2.51% | +2.33% | +1.71% |
| Info Edge (India) Ltd. | Services | 2.60% | ₹35.38 Cr | +2.30% | +2.71% | +1.90% |
| PB Fintech Ltd. | Services | 2.47% | ₹33.67 Cr | +2.62% | +2.37% | +1.68% |
| Divi's Laboratories Ltd. | Healthcare | 2.23% | ₹30.40 Cr | +1.83% | +1.84% | +1.35% |
| Sona BLW Precision Forgings Ltd. | Automobile | 2.22% | ₹30.23 Cr | +1.98% | +1.81% | +1.56% |
| PTC Industries Ltd. | Metals & Mining | 2.19% | ₹29.87 Cr | +1.87% | +2.16% | +1.23% |
| Meesho Ltd. | Services | 2.14% | ₹29.16 Cr | +2.03% | +1.62% | — |
| Siemens Ltd. | Capital Goods | 2.07% | ₹28.23 Cr | +1.76% | +1.63% | +1.18% |
| Affle 3I Ltd. | Technology | 2.05% | ₹27.96 Cr | +2.19% | +2.15% | +1.63% |
| Sai Life Sciences Ltd. | Healthcare | 1.93% | ₹26.32 Cr | +1.79% | +2.08% | +1.18% |
| BlackBuck Ltd. | Services | 1.88% | ₹25.66 Cr | +1.89% | +2.25% | — |
| Bajaj Finserv Ltd. | Financial | 1.84% | ₹25.08 Cr | +1.90% | +2.21% | +0.83% |
| Others | Others | 1.79% | ₹24.44 Cr | +5.40% | +5.41% | +3.21% |
| Pidilite Industries Ltd. | Chemicals | 1.76% | ₹24.00 Cr | +1.94% | +2.07% | +2.39% |
| Wakefit Innovations Ltd. | Consumer Discretionary | 1.69% | ₹23.01 Cr | +1.17% | +1.22% | — |
| Urban Company Ltd. | Consumer Staples | 1.68% | ₹22.87 Cr | +1.15% | +0.50% | — |
| PI Industries Ltd. | Chemicals | 1.57% | ₹21.39 Cr | — | — | — |
| Capillary Technologies India Ltd. | Technology | 1.52% | ₹20.68 Cr | +1.53% | +1.60% | — |
| Delhivery Ltd. | Services | 1.51% | ₹20.55 Cr | +1.97% | +1.96% | +1.83% |
| Swiggy Ltd. | Services | 1.48% | ₹20.13 Cr | +1.58% | +1.75% | +1.44% |
| INDO-MIM Ltd. | Capital Goods | 1.47% | ₹19.99 Cr | — | — | — |
| Sagility Ltd. | Services | 1.45% | ₹19.77 Cr | +1.48% | +1.34% | — |
| GE Vernova T&D India Ltd | Capital Goods | 1.44% | ₹19.62 Cr | +2.75% | +2.14% | +1.66% |
| Jain Resource Recycling Ltd. | Metals & Mining | 1.43% | ₹19.48 Cr | +2.05% | +1.79% | — |
| NVIDIA Corporation (USA) | Capital Goods | 1.42% | ₹19.40 Cr | +0.88% | +0.73% | +0.78% |
| Bharat Electronics Ltd. | Capital Goods | 1.41% | ₹19.17 Cr | +1.63% | +1.84% | +1.10% |
| Linde India Ltd. | Chemicals | 1.37% | ₹18.61 Cr | +1.80% | +2.05% | +2.19% |
| Kusumgar Ltd. | Textiles | 1.29% | ₹17.58 Cr | — | — | — |
| Nifty Bank | Financial | 1.27% | ₹17.37 Cr | +1.41% | — | +0.55% |
| Pine Labs Ltd. | Financial | 1.24% | ₹16.86 Cr | +0.81% | +1.11% | — |
| Mahindra & Mahindra Ltd. | Automobile | 1.22% | ₹16.65 Cr | +1.51% | +1.76% | +1.92% |
| TBO Tek Ltd. | Services | 1.22% | ₹16.59 Cr | +1.00% | +1.04% | +1.06% |
| Neogen Chemicals Ltd. | Chemicals | 1.18% | ₹16.11 Cr | +1.17% | +1.73% | +1.43% |
| Jyoti CNC Automation Ltd. | Capital Goods | 1.13% | ₹15.45 Cr | +0.94% | +1.35% | +1.04% |
| Siemens Energy India Ltd. | Energy | 1.07% | ₹14.52 Cr | +1.49% | +1.18% | +1.30% |
| Taiwan Semiconductor Manufacturing Company Ltd. - ADR | Technology | 1.06% | ₹14.51 Cr | +1.33% | +1.18% | +0.86% |
| Microsoft Corportion (US) | Technology | 1.02% | ₹13.91 Cr | +1.05% | +0.91% | +1.42% |
| Bosch Ltd. | Automobile | 1.00% | ₹13.64 Cr | +0.86% | — | — |
| Alphabet Inc Class A | Services | 0.90% | ₹12.22 Cr | +1.17% | +0.96% | +0.74% |
| Honeywell Automation India Ltd. | Capital Goods | 0.86% | ₹11.68 Cr | +1.00% | +0.91% | +1.09% |
| Amazon. com Inc. (USA) | Services | 0.81% | ₹11.06 Cr | +1.01% | +0.78% | +0.78% |
| Dixon Technologies (India) Ltd. | Capital Goods | 0.80% | ₹10.86 Cr | +1.18% | +1.12% | +1.78% |
| Tenneco Clean Air India Ltd | Automobile | 0.70% | ₹9.59 Cr | +1.16% | +1.37% | — |
| company:20242 | Healthcare | 0.70% | ₹9.55 Cr | — | — | — |
| Broadcom Inc | Capital Goods | 0.67% | ₹9.18 Cr | +1.63% | +1.16% | +0.81% |
| company:20770 | Capital Goods | 0.66% | ₹9.06 Cr | — | — | — |
| Ellenbarrie Industrial Gases Ltd. | Chemicals | 0.64% | ₹8.72 Cr | +0.60% | +0.55% | +1.20% |
| Anthem Biosciences Ltd. | Healthcare | 0.63% | ₹8.64 Cr | — | — | — |
| Meta Platforms Inc | Services | 0.59% | ₹8.11 Cr | +0.87% | +0.89% | — |
| ASML Holding N.V. - ADS/ADR | Capital Goods | 0.56% | ₹7.64 Cr | +0.84% | +0.75% | +0.46% |
| Apple Inc. (USA) | Consumer Discretionary | 0.54% | ₹7.29 Cr | — | — | — |
| MakeMy Trip Ltd. | Services | 0.52% | ₹7.06 Cr | +0.48% | +0.58% | — |
| Arista Networks Inc | Communication | 0.48% | ₹6.49 Cr | +0.55% | +0.46% | +0.58% |
| SharkNinja Inc | Consumer Discretionary | 0.47% | ₹6.41 Cr | +0.35% | +0.35% | +0.31% |
| Carborundum Universal Ltd. | Metals & Mining | 0.46% | ₹6.21 Cr | +0.50% | +0.41% | +0.44% |
| Samsung Electronics Co Ltd. (South Korea) GDR/GDS | Capital Goods | 0.41% | ₹5.54 Cr | — | — | — |
| Veeva Systems Inc. | Healthcare | 0.37% | ₹5.04 Cr | — | — | — |
| Reserve Bank of India | Financial | 0.36% | ₹4.95 Cr | +0.42% | +0.45% | +0.43% |
| Advanced Micro Devices Inc | Capital Goods | 0.31% | ₹4.26 Cr | +1.58% | +0.61% | +0.44% |
| eBay Inc. (USA) | Services | 0.29% | ₹4.00 Cr | +0.35% | +0.29% | +0.27% |
| MercadoLibre Inc | Services | 0.27% | ₹3.66 Cr | +0.21% | +0.22% | +0.28% |
| Sea Limited - ADR | Technology | 0.26% | ₹3.58 Cr | +0.07% | +0.08% | — |
| Roku Inc | Services | 0.26% | ₹3.53 Cr | — | — | — |
| Lumentum Holdings Inc. (LITE) | Communication | 0.25% | ₹3.35 Cr | — | — | — |
| Visa Inc | Financial | 0.23% | ₹3.11 Cr | +0.52% | +0.50% | +0.64% |
| Spotify Technology S.A. - ADR | Services | 0.22% | ₹2.99 Cr | +0.25% | +0.26% | +0.37% |
| Oracle Corporation (US) | Technology | 0.22% | ₹2.99 Cr | — | — | — |
| Vertiv Holdings Co | Capital Goods | 0.22% | ₹2.94 Cr | — | — | — |
| TJX Companies Inc | Services | 0.21% | ₹2.90 Cr | +0.29% | +0.30% | +0.30% |
| Monster Beverage Corporation (US) | Consumer Staples | 0.21% | ₹2.88 Cr | — | — | — |
| KLA Corporation | Capital Goods | 0.18% | ₹2.52 Cr | — | — | — |
| Blue Dart Express Ltd. | Services | 0.15% | ₹2.11 Cr | +0.17% | +0.22% | +0.21% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Others | 3.36% | 1.91% | -1.45% |
| Ather Energy Ltd. | 3.01% | 3.78% | +0.77% |
| company:20242 | 0.00% | 0.70% | +0.70% |
| company:20770 | 0.00% | 0.66% | +0.66% |
| One97 Communications Ltd. | 3.50% | 4.13% | +0.63% |
| Urban Company Ltd. | 1.15% | 1.68% | +0.53% |
| Jain Resource Recycling Ltd. | 1.95% | 1.43% | -0.52% |
| Mahindra & Mahindra Ltd. | 1.57% | 1.22% | -0.35% |
| Billionbrains Garage Ventures Ltd. | 3.75% | 3.42% | -0.33% |
| Eternal Ltd. | 5.61% | 5.28% | -0.33% |
| PTC Industries Ltd. | 1.91% | 2.19% | +0.29% |
| Tenneco Clean Air India Ltd | 0.99% | 0.70% | -0.28% |
| Lenskart Solutions Ltd. | 2.69% | 2.93% | +0.24% |
| Linde India Ltd. | 1.56% | 1.37% | -0.20% |
| PB Fintech Ltd. | 2.29% | 2.47% | +0.18% |
| Divi's Laboratories Ltd. | 2.06% | 2.23% | +0.17% |
| Bajaj Finserv Ltd. | 2.00% | 1.84% | -0.16% |
| Affle 3I Ltd. | 2.21% | 2.05% | -0.16% |
| Swiggy Ltd. | 1.62% | 1.48% | -0.14% |
| Honeywell Automation India Ltd. | 1.00% | 0.86% | -0.14% |
| Capillary Technologies India Ltd. | 1.38% | 1.52% | +0.14% |
| Delhivery Ltd. | 1.64% | 1.51% | -0.13% |
| Wakefit Innovations Ltd. | 1.56% | 1.69% | +0.13% |
| Alphabet Inc Class A | 1.02% | 0.90% | -0.12% |
| Bosch Ltd. | 0.89% | 1.00% | +0.11% |
| Sona BLW Precision Forgings Ltd. | 2.33% | 2.22% | -0.11% |
| Amazon. com Inc. (USA) | 0.92% | 0.81% | -0.11% |
| FSN E-Commerce Ventures Ltd. | 3.15% | 3.05% | -0.10% |
| Pine Labs Ltd. | 1.14% | 1.24% | +0.10% |
| Nifty Bank | 1.37% | 1.27% | -0.10% |
| Broadcom Inc | 0.77% | 0.67% | -0.09% |
| Siemens Energy India Ltd. | 1.16% | 1.07% | -0.09% |
| Veeva Systems Inc. | 0.29% | 0.37% | +0.08% |
| Meesho Ltd. | 2.06% | 2.14% | +0.08% |
| Pidilite Industries Ltd. | 1.84% | 1.76% | -0.08% |
| GE Vernova T&D India Ltd | 1.52% | 1.44% | -0.08% |
| Ellenbarrie Industrial Gases Ltd. | 0.57% | 0.64% | +0.07% |
| PI Industries Ltd. | 1.64% | 1.57% | -0.07% |
| TBO Tek Ltd. | 1.16% | 1.22% | +0.06% |
| TJX Companies Inc | 0.27% | 0.21% | -0.06% |
| Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 1.12% | 1.06% | -0.06% |
| INDO-MIM Ltd. | 1.41% | 1.47% | +0.06% |
| eBay Inc. (USA) | 0.35% | 0.29% | -0.06% |
| Jyoti CNC Automation Ltd. | 1.19% | 1.13% | -0.05% |
| Kusumgar Ltd. | 1.24% | 1.29% | +0.05% |
| Sai Life Sciences Ltd. | 1.89% | 1.93% | +0.05% |
| SharkNinja Inc | 0.43% | 0.47% | +0.04% |
| Aether Industries Ltd. | 2.71% | 2.67% | -0.04% |
| Lumentum Holdings Inc. (LITE) | 0.21% | 0.25% | +0.04% |
| Reserve Bank of India | 0.40% | 0.36% | -0.03% |
| Meta Platforms Inc | 0.63% | 0.59% | -0.03% |
| Info Edge (India) Ltd. | 2.63% | 2.60% | -0.03% |
| MakeMy Trip Ltd. | 0.55% | 0.52% | -0.03% |
| Apple Inc. (USA) | 0.57% | 0.54% | -0.03% |
| Advanced Micro Devices Inc | 0.34% | 0.31% | -0.03% |
| Monster Beverage Corporation (US) | 0.24% | 0.21% | -0.03% |
| KLA Corporation | 0.21% | 0.18% | -0.02% |
| Siemens Ltd. | 2.10% | 2.07% | -0.02% |
| ASML Holding N.V. - ADS/ADR | 0.58% | 0.56% | -0.02% |
| NVIDIA Corporation (USA) | 1.40% | 1.42% | +0.02% |
| Blue Dart Express Ltd. | 0.18% | 0.15% | -0.02% |
| Dixon Technologies (India) Ltd. | 0.82% | 0.80% | -0.02% |
| Bharat Electronics Ltd. | 1.43% | 1.41% | -0.02% |
| Carborundum Universal Ltd. | 0.48% | 0.46% | -0.02% |
| Samsung Electronics Co Ltd. (South Korea) GDR/GDS | 0.39% | 0.41% | +0.02% |
| BlackBuck Ltd. | 1.86% | 1.88% | +0.02% |
| MercadoLibre Inc | 0.28% | 0.27% | -0.01% |
| Oracle Corporation (US) | 0.21% | 0.22% | +0.01% |
| Anthem Biosciences Ltd. | 0.62% | 0.63% | +0.01% |
| Visa Inc | 0.24% | 0.23% | -0.01% |
| Microsoft Corportion (US) | 1.01% | 1.02% | +0.01% |
| Sea Limited - ADR | 0.27% | 0.26% | 0.00% |
| Neogen Chemicals Ltd. | 1.18% | 1.18% | 0.00% |
| Vertiv Holdings Co | 0.22% | 0.22% | 0.00% |
| Arista Networks Inc | 0.48% | 0.48% | 0.00% |
| Spotify Technology S.A. - ADR | 0.22% | 0.22% | 0.00% |
| Sagility Ltd. | 1.45% | 1.45% | 0.00% |
| Roku Inc | 0.26% | 0.26% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹4,186 Cr | 2.13% | 13.6% | 11.6% | 17.6% |
 ICICI Prudential Innovation Fund | ₹8,012 Cr | 2.18% | 4.2% | 9.2% | — |
 Kotak Pioneer Fund | ₹4,281 Cr | 1.91% | 19.3% | 15.0% | 17.6% |
 Nippon India Innovation Fund | ₹3,108 Cr | 2.07% | 7.0% | 7.4% | — |
 Union Innovation & Opportunities Fund | ₹1,344 Cr | 2.36% | 24.0% | 14.9% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
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).
Fund managers
- Ashish NaikMr. 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.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
₹
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months24.84% absolute | ₹60,000 | ₹74,904 | 24.84% | |
| 1 year14.50% annualised | ₹1,20,000 | ₹1,29,855 | 8.21% | |
| 3 years17.77% annualised | ₹3,60,000 | ₹4,78,034 | 32.79% | |
| 5 years10.26% annualised | ₹6,00,000 | ₹7,86,381 | 31.06% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.
What is the NAV of Axis Innovation Fund?
The NAV of Axis Innovation Fund is ₹21.71 as on 24 Sep 2026.
What is the expense ratio of Axis Innovation Fund?
The expense ratio of Axis Innovation Fund is 2.28% per year.
What is the minimum SIP amount for Axis Innovation Fund?
You can start a SIP in Axis Innovation Fund with ₹3,000 a month.
What returns has Axis Innovation Fund given?
Axis Innovation Fund has returned 27.8% over 1 year, 15.6% over 3 years and 15.4% over 5 years (annualised).
Is there a lock-in or exit load on Axis Innovation Fund?
Lock-in: None. Exit load: Exit Load for units in excess of 20% of the investment,1% will be charged for redemption within 12 months..
How risky is Axis Innovation Fund?
Axis Innovation Fund is rated Very High on the SEBI riskometer and belongs to the Thematic-Innovation category.
Which fund house manages Axis Innovation Fund?
Axis Innovation Fund is managed by Axis Mutual Fund, which runs 74 schemes with ₹3,77,445 Cr under management.