Nippon India Innovation Fund
Sectoral/ Thematic · Nippon Life India Asset Management Limited
Among the 946 funds in its category, this one has grown money a bit faster than average. ₹1 lakh invested 3 years ago would be about ₹1.5 lakh today. Investing ₹10,000 every month for the last 3 years would have put in ₹3.7 lakh and grown it to about ₹4.2 lakh. Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹78,530. Expect meaningful ups and downs on the way.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.Nippon India Innovation Fund is a Sectoral/ Thematic fund from Nippon Life India Asset Management Limited. It has a track record of about 3.0 years. As of the latest data it carries an RS rating of 68/99 (its recent momentum versus category peers) and a King Score of 71/100 (a long-term quality composite). The current NAV is ₹15.24 (as of 2026-09-16).
Growth of ₹100 - last 3 years
Nippon India Innovation Fund returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -3.89% | -3.47% |
| 3 months | 4.62% | 2.0% |
| 6 months | 12.82% | 10.56% |
| 1 year | 0.85% | 4.78% |
| 3 years (CAGR) | 13.95% | 13.85% |
Its trailing one-year return is 0.85%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | Nippon India Innovatio | Benchmark |
|---|---|---|
| 2024 | +21.8% | +15.2% |
| 2025 | +6.8% | +6.7% |
| 2026 | +3.1% | -5.8% |
Nippon India Innovation Fund beat its benchmark in 3 of the last 3 calendar years. That is a strong hit-rate - most active funds fail to clear their index this often. Consistency against the benchmark matters more than any single great year.
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in Nippon India Innovation Fund would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹423,444 | 8.96% |
Over 3 years, ₹370,000 invested in monthly instalments would have grown to about ₹423,444 - an XIRR of 8.96%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -21.47% | -26.37% |
| Worst drawdown (3Y) | -21.47% | -20.9% |
| Volatility (1Y) | 19.46% | 19.02% |
| Sharpe (3Y) | 0.49 | 0.31 |
| Sortino (3Y) | 0.81 | 0.82 |
| Beta (3Y) | 0.99 | 0.91 |
| Alpha (3Y) | 5.4% | 6.12% |
| Up capture | 101.1% | 97.13% |
| Down capture | 86.6% | 81.47% |
| Bull-market return | 30.9% | 30.78% |
| Bear-market return | -20.5% | -23.76% |
Timing matters more than people admit: the best possible 1-year stretch in Nippon India Innovation Fund (starting 2023-09-22) gained 51.7%, while the worst (starting 2024-09-26) lost 4.3%. The worst peak-to-bottom fall Nippon India Innovation Fund has ever put investors through is -21.47% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -20.5% annualised, versus 30.9% in rising markets. It has captured roughly 101.1% of its benchmark's up-moves and 86.6% of its down-moves.
How Nippon India Innovation Fund behaves when markets fall
When the market is falling (the Nifty below its 200-day average), Nippon India Innovation Fund has historically returned about -20.5% annualised, versus roughly 30.9% when the market is rising. Its deepest fall on record is -21.47%. Right now it sits about 3.98% below its all-time high (last hit 2026-08-13). The real question isn't the average year - it's whether you could hold on through the worst one.
How Nippon India Innovation Fund ranks in its category
Percentile versus its ~946 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
Rolling-return data isn't available for this fund yet.
What Nippon India Innovation Fund holds
Its latest monthly portfolio disclosure. This is what your money actually owns.
Top holdings
Sector allocation
The top 10 holdings make up 37.1% of the portfolio, across 55 stocks. A higher concentration means the fund's fortunes ride on fewer names.
Portfolio overlap with similar funds
Nippon India Innovation Fund shares HDFC Transportation and Logistics Fund (6%), ICICI Prudential Transportation And Logistics Fund (0%), ICICI Prudential Innovation Fund (0%) of its portfolio with these category peers (overlap = the slice of the two portfolios invested in the same stocks). The lower the overlap, the more genuinely different the portfolios are.
Who manages Nippon India Innovation Fund - and how good are they?
Nippon India Innovation Fund is managed by Vinay Sharma, Kinjal Desai and Rishit Parikh. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Vinay Sharma's full record
Vinay Sharma currently runs 5 funds, across Focused Fund, Multi Asset Allocation, Sectoral/ Thematic, with about ₹41,572 Cr under management. The book's average King Score is 62.8/100. Their strongest fund by King Score is Nippon India Multi Asset Allocation Fund (81/100); Nippon India Innovation Fund ranks #2 of 5 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nippon India Multi Asset Allocation Fund | 87 | 81 | 0.9% | 4.8% | 11.7% | 18.3% | 15.2% | n/a | 1.16 | 18.4% | -9.5% |
| 2 | Nippon India Innovation Fund (this page) | 68 | 71 | 4.6% | 12.8% | 0.8% | 13.9% | n/a | n/a | 0.49 | n/a | -21.5% |
| 3 | Nippon India Banking & Financial Services Fund | 40 | 55 | -0.5% | 2.5% | 2.7% | 10.9% | 12.7% | 12.9% | 0.28 | 16.5% | -50.6% |
| 4 | Nippon India Banking & Financial Services Fund | 40 | 55 | -0.5% | 2.5% | 2.7% | 10.9% | 12.7% | 12.9% | 0.28 | 16.5% | -50.6% |
| 5 | Nippon India Focused Fund | 34 | 52 | -1.4% | 3.9% | -1.5% | 8.3% | 9.9% | 12.8% | 0.14 | 16.7% | -43.4% |
Kinjal Desai's full record
Kinjal Desai currently runs 51 funds, across Aggressive Hybrid Fund, Arbitrage Fund, Conservative Hybrid Fund, Corporate Bond Fund and more, with about ₹687,720 Cr under management. The book's average King Score is 71.3/100. Their strongest fund by King Score is Nippon India Corporate Bond Fund (91/100); Nippon India Innovation Fund ranks #28 of 51 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nippon India Corporate Bond Fund | 88 | 91 | 1.3% | 3.0% | 5.5% | 7.5% | 6.8% | 7.3% | 0.86 | 8.0% | -1.7% |
| 2 | Nippon India Nivesh Lakshya Long Duration Fund | 87 | 90 | 1.1% | 1.8% | 2.2% | 6.1% | 5.6% | n/a | -0.11 | 6.9% | -5.8% |
| 3 | Nippon India Liquid Fund | 97 | 86 | 1.7% | 3.5% | 6.6% | 7.0% | 6.4% | 6.2% | 1.34 | 6.9% | -0.2% |
| 4 | Nippon India Low Duration Fund | 96 | 86 | 1.7% | 3.4% | 6.6% | 7.5% | 6.7% | 7.0% | 1.58 | 7.5% | -2.0% |
| 5 | Nippon India Money Market Fund | 91 | 86 | 1.9% | 3.5% | 6.6% | 7.4% | 6.8% | 6.8% | 1.59 | 7.4% | -0.9% |
| 6 | Nippon India Money Market Fund | 91 | 86 | 1.9% | 3.5% | 6.6% | 7.4% | 6.8% | 6.8% | 1.59 | 7.4% | -0.9% |
| 7 | Nippon India Short Duration Fund | 86 | 83 | 1.2% | 2.8% | 5.8% | 7.7% | 6.7% | 7.3% | 1.11 | 7.9% | -2.9% |
| 8 | Nippon India Conservative Hybrid Fund | 99 | 82 | 1.6% | 3.5% | 7.0% | 8.5% | 8.2% | 6.0% | 0.97 | 8.5% | -18.9% |
| 9 | Nippon India Multi Asset Allocation Fund | 87 | 81 | 0.9% | 4.8% | 11.7% | 18.3% | 15.2% | n/a | 1.16 | 18.4% | -9.5% |
| 10 | Nippon India Ultra Short Duration Fund | 97 | 80 | 1.9% | 3.7% | 7.1% | 7.6% | 7.0% | n/a | 2.0 | 7.0% | -5.2% |
| 11 | Nippon India Gilt Fund | 84 | 80 | 1.2% | 2.7% | 3.9% | 6.3% | 5.6% | 7.4% | -0.07 | 9.3% | -6.5% |
| 12 | Nippon India Low Duration Fund | 96 | 78 | 1.7% | 3.4% | 6.6% | 7.5% | 6.7% | 7.0% | 1.58 | 7.2% | -10.5% |
| 13 | Nippon India Large Cap Fund | 34 | 78 | -1.7% | 0.1% | -5.2% | 9.9% | 12.6% | 13.9% | 0.24 | 16.8% | -40.0% |
| 14 | Nippon India Large Cap Fund | 34 | 78 | -1.7% | 0.1% | -5.2% | 9.9% | 12.6% | 13.9% | 0.24 | 16.8% | -40.0% |
| 15 | Nippon India Mid Cap Fund | 38 | 77 | -0.5% | 7.8% | 5.7% | 17.3% | 17.2% | 18.1% | 0.62 | 22.0% | -35.3% |
| 16 | Nippon India Mid Cap Fund | 38 | 77 | -0.5% | 7.8% | 5.7% | 17.3% | 17.2% | 18.1% | 0.62 | 22.0% | -35.3% |
| 17 | Nippon India Arbitrage Fund | 86 | 76 | 1.6% | 3.1% | 6.7% | 7.3% | 6.8% | 6.5% | 0.83 | 6.9% | -0.6% |
| 18 | Nippon India Dynamic Bond Fund | 69 | 76 | 0.8% | 1.8% | 5.2% | 7.2% | 6.2% | 6.7% | 0.36 | 7.6% | -8.5% |
| 19 | Nippon India Vision Large & Mid Cap Fund | 20 | 76 | -0.9% | 3.8% | -1.5% | 13.4% | 12.3% | 12.7% | 0.44 | 16.9% | -45.0% |
| 20 | Nippon India Vision Large & Mid Cap Fund | 20 | 76 | -0.9% | 3.8% | -1.5% | 13.4% | 12.3% | 12.7% | 0.44 | 16.9% | -45.0% |
| 21 | Nippon India Credit Risk Fund | 75 | 75 | 1.8% | 3.9% | 8.0% | 8.9% | 7.9% | 6.6% | 2.65 | 8.7% | -13.8% |
| 22 | Nippon India Taiwan Equity Fund | 99 | 74 | -6.9% | 38.3% | 112.8% | 58.2% | n/a | n/a | 1.33 | 36.4% | -44.8% |
| 23 | Nippon India Medium Duration Fund | 98 | 74 | 2.9% | 3.3% | 6.6% | 8.6% | 6.9% | 3.8% | 1.09 | 7.0% | -29.8% |
| 24 | Nippon India Gilt Fund | 84 | 74 | 1.2% | 2.7% | 3.9% | 6.3% | 5.6% | 7.4% | -0.07 | 9.2% | -11.8% |
| 25 | Nippon India Value Fund | 28 | 72 | -2.4% | 1.4% | -3.6% | 12.9% | 13.0% | 14.8% | 0.4 | 19.1% | -38.6% |
| 26 | Nippon India US Equity Opportunities Fund | 87 | 71 | 6.8% | 17.5% | 16.5% | 19.5% | 12.2% | 16.3% | 0.76 | 16.7% | -30.8% |
| 27 | Nippon India Medium Duration Fund | 72 | 71 | 1.4% | 2.9% | 6.2% | 8.3% | 6.8% | 3.7% | 0.97 | 7.0% | -29.8% |
| 28 | Nippon India Innovation Fund (this page) | 68 | 71 | 4.6% | 12.8% | 0.8% | 13.9% | n/a | n/a | 0.49 | n/a | -21.5% |
| 29 | Nippon India Japan Equity Fund | 89 | 70 | 4.1% | 15.1% | 28.8% | 20.8% | 10.1% | 11.9% | 0.75 | 8.1% | -29.9% |
| 30 | Nippon India Japan Equity Fund | 89 | 70 | 4.1% | 15.1% | 28.8% | 20.8% | 10.1% | 11.9% | 0.75 | 8.1% | -29.9% |
| 31 | Nippon India Pharma Fund | 75 | 69 | 4.7% | 11.9% | 8.9% | 17.5% | 13.1% | 15.4% | 0.82 | 19.9% | -24.0% |
| 32 | Nippon India Pharma Fund | 75 | 69 | 4.7% | 11.9% | 8.9% | 17.5% | 13.1% | 15.4% | 0.82 | 19.9% | -24.0% |
| 33 | Nippon India ELSS Tax Saver Fund | 31 | 68 | -1.6% | 2.2% | -0.8% | 11.1% | 11.2% | 10.5% | 0.3 | 15.5% | -51.9% |
| 34 | Nippon India Power & Infra Fund | 45 | 67 | -3.3% | 7.6% | 6.0% | 17.2% | 19.8% | 17.4% | 0.57 | 17.9% | -53.2% |
| 35 | Nippon India Power & Infra Fund | 45 | 67 | -3.3% | 7.6% | 6.0% | 17.2% | 19.8% | 17.4% | 0.57 | 17.9% | -53.2% |
| 36 | Nippon India Aggressive Hybrid Fund | 57 | 66 | -0.1% | 2.8% | -0.2% | 9.8% | 10.6% | 9.8% | 0.3 | 13.9% | -42.4% |
| 37 | Nippon India Gilt Fund | 84 | 64 | 1.2% | 2.7% | 3.9% | 6.3% | 5.6% | 7.4% | -0.07 | 6.9% | -36.5% |
| 38 | Nippon India Quant Fund | 23 | 64 | -1.0% | 0.4% | -1.3% | 12.7% | 12.5% | 13.7% | 0.38 | 13.5% | -32.8% |
| 39 | Nippon India Quant Fund | 23 | 64 | -1.0% | 0.4% | -1.3% | 12.7% | 12.5% | 13.7% | 0.38 | 13.6% | -32.8% |
| 40 | Nippon India Small Cap Fund | 40 | 62 | 3.3% | 17.1% | 7.2% | 14.3% | 18.2% | 20.9% | 0.46 | 25.8% | -48.6% |
| 41 | Nippon India Small Cap Fund | 40 | 62 | 3.3% | 17.1% | 7.2% | 14.3% | 18.2% | 20.9% | 0.46 | 25.8% | -48.6% |
| 42 | Nippon India Flexi Cap Fund | 40 | 56 | -0.1% | 5.6% | -2.1% | 9.4% | 10.4% | n/a | 0.19 | 17.2% | -19.8% |
| 43 | Nippon India Multi Cap Fund | 15 | 56 | -1.2% | 3.9% | -2.8% | 12.1% | 16.1% | 15.3% | 0.37 | 17.3% | -42.8% |
| 44 | Nippon India Multi Cap Fund | 15 | 56 | -1.2% | 3.9% | -2.8% | 12.1% | 16.1% | 15.3% | 0.37 | 17.3% | -42.8% |
| 45 | Nippon India Banking & Financial Services Fund | 40 | 55 | -0.5% | 2.5% | 2.7% | 10.9% | 12.7% | 12.9% | 0.28 | 16.5% | -50.6% |
| 46 | Nippon India Banking & Financial Services Fund | 40 | 55 | -0.5% | 2.5% | 2.7% | 10.9% | 12.7% | 12.9% | 0.28 | 16.5% | -50.6% |
| 47 | Nippon India Focused Fund | 34 | 52 | -1.4% | 3.9% | -1.5% | 8.3% | 9.9% | 12.8% | 0.14 | 16.7% | -43.4% |
| 48 | Nippon India Consumption Fund | 41 | 48 | 2.6% | 7.5% | -8.1% | 9.1% | 12.0% | 13.2% | 0.18 | 16.8% | -31.0% |
| 49 | Nippon India Consumption Fund | 41 | 48 | 2.6% | 7.5% | -8.1% | 9.1% | 12.0% | 13.2% | 0.18 | 16.8% | -31.0% |
| 50 | Nippon India Active Momentum Fund | 69 | n/a | 2.3% | 10.6% | 8.8% | n/a | n/a | n/a | 0.64 | n/a | -11.8% |
| 51 | Nippon India MNC Fund | 27 | n/a | -2.4% | 4.4% | -1.3% | n/a | n/a | n/a | n/a | n/a | -13.1% |
Rishit Parikh's full record
Rishit Parikh currently runs 2 funds, across Focused Fund, Sectoral/ Thematic, with about ₹11,208 Cr under management. The book's average King Score is 61.5/100. This fund is the highest-scored fund they run (King 71/100).
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nippon India Innovation Fund (this page) | 68 | 71 | 4.6% | 12.8% | 0.8% | 13.9% | n/a | n/a | 0.49 | n/a | -21.5% |
| 2 | Nippon India Focused Fund | 34 | 52 | -1.4% | 3.9% | -1.5% | 8.3% | 9.9% | 12.8% | 0.14 | 16.7% | -43.4% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.61% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹500 |
| Fund size (AUM) | ₹2,835 Cr |
| Age | 3.0 years |
| Plan / Option | Direct · Growth |
| Benchmark | NIFTY500 |
How Nippon India Innovation Fund compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| HDFC Transportation and Logistics Fund | 82 | 89 | 24.1% |
| ICICI Prudential Transportation And Logistics Fund | 78 | 87 | 21.1% |
| ICICI Prudential Innovation Fund | 56 | 87 | 17.8% |
| LIC MF Healthcare Fund | 91 | 87 | 21.4% |
| Kotak Manufacture in India Fund | 81 | 83 | 19.1% |
| quant BFSI Fund | 78 | 83 | 21.5% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
Nippon India Innovation Fund review: the bottom line
Related
Frequently asked questions
Is Nippon India Innovation Fund a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, Nippon India Innovation Fund scores 71/100 on our King Score and RS 68/99 within its category, has compounded 13.95% a year over three years, and its worst drawdown was -21.47%. Compare those against your needs and the peer table above.
What is the NAV of Nippon India Innovation Fund today?
The latest NAV is ₹15.24 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the expense ratio of Nippon India Innovation Fund?
The Direct-plan expense ratio is 0.61% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of Nippon India Innovation Fund?
Nippon India Innovation Fund is managed by Vinay Sharma; Kinjal Desai; Rishit Parikh; Amber Singhania.
Is Nippon India Innovation Fund safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -21.47% - ₹1 lakh briefly becoming about ₹78,530. As a sectoral & thematic fund, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is Nippon India Innovation Fund good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 3 years grew ₹3.7 lakh into about ₹4.2 lakh (XIRR 8.96%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of Nippon India Innovation Fund?
A ₹10,000/month SIP over 3 years would have grown to about ₹423,444 (an XIRR of 8.96%) on ₹370,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does Nippon India Innovation Fund rank among similar funds?
On 3-year returns it sits around the 67th percentile of its category, and its consistency ranks 77th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is Nippon India Innovation Fund tax-efficient / what about capital gains?
As a sectoral & thematic fund, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See Nippon India Innovation Fund live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.