What are the top performing Thematic-Innovation funds?

Based on 1-year returns, the top performing Thematic-Innovation funds are Bandhan Innovation Fund Direct-Growth with 9.25% return, Axis Innovation Fund Direct-Growth with 7.35% return, and HDFC Innovation Fund Direct-Growth with 6.97% return. The category average 1-year return is 0.72%.

Which Thematic-Innovation funds have given the best returns over 3 years?

Over a 3-year period, the best performing Thematic-Innovation funds are Bandhan Innovation Fund Direct-Growth with a 18.68% CAGR, Axis Innovation Fund Direct-Growth with 16.87% CAGR, and HDFC Innovation Fund Direct-Growth with 16.60% CAGR. The category average 3-year return stands at 15.23% CAGR.

Which Thematic-Innovation funds have given the best returns over 5 years?

Over a 5-year period, the top Thematic-Innovation funds are Bandhan Innovation Fund Direct-Growth with a 13.40% CAGR, Axis Innovation Fund Direct-Growth with 9.82% CAGR, and HDFC Innovation Fund Direct-Growth with 0.00% CAGR. The category average 5-year return is 10.84% CAGR.

Which are the best Thematic-Innovation funds for SIP investment?

Based on average 5-year rolling returns, the best Thematic-Innovation funds for SIP are -- with 5-year average rolling return of 0.00%, -- with 0.00%, and -- with 0.00%. You can start a SIP in Thematic-Innovation funds with as little as ₹100 per month.

What is the minimum amount to invest in Thematic-Innovation funds?

You can start investing in Thematic-Innovation funds with a minimum SIP of ₹100 per month or a minimum lumpsum of ₹100. The minimum investment varies across fund houses — some funds allow even lower entry points.

How are Thematic-Innovation fund returns taxed?

Gains from Thematic-Innovation funds held for less than 12 months are taxed at 20% (Short-Term Capital Gains). Gains on units held for 12 months or more are taxed at 12.5% (Long-Term Capital Gains), with ₹1.25 lakh per year being exempt per financial year. Dividends (IDCW) are taxed at your applicable income tax slab rate.

Which Thematic-Innovation funds have the lowest expense ratio?

Among Thematic-Innovation funds, Kotak Pioneer Fund Direct-Growth has the lowest expense ratio at 0.63% (Direct Plan), followed by Bandhan Innovation Fund Direct-Growth at 0.89%. Lower expense ratios directly improve your net returns over the long term.

How many Thematic-Innovation mutual funds are available in India?

There are currently 13 Thematic-Innovation mutual funds available in India across different fund houses. You can compare all 13 funds on Sharpely based on returns, risk, AUM, and expense ratio to find the one that suits your investment goals.

mutual funds category

Thematic Innovation

Best Innovation Funds 2026

Q: What are the largest Thematic-Innovation mutual funds by assets?

The largest Thematic-Innovation funds by Assets Under Management (AUM) are ICICI Prudential Innovation Fund Direct-Growth with ₹ 7,549.12 crore, SBI Innovative Opportunities Fund Direct-Growth with ₹ 5,124.95 crore, and Kotak Pioneer Fund Direct-Growth with ₹ 4,294.62 crore. Together, there are 13 Thematic-Innovation funds available in India.

Total Schemes

No. of schemes

Total AUM

₹ 0.33Lakh Cr

As on latest

Category Return (5Y)

10.84 %

CAGR

Benchmark

8.18%

NIFTY 500 TRI

Category Returns (%)

Period	1M	6M	1Y	3Y CAGR	5Y CAGR	10Y CAGR	YTD
Thematic-Innovation	-7.75 %	4.60 %	0.72 %	15.23 %	10.84 %	-	2.32 %
Benchmark	-4.79 %	-5.01 %	-7.84 %	9.75 %	8.18 %	12.35 %	-8.38 %

Top Thematic-Innovation Funds (by AUM)

Fund Name	AUM (₹ Cr)	1Y Return	3Y CAGR	5Y CAGR	Expense Ratio
ICICI Prudential Innovation Fund Direct-GrowthNAV: ₹18.97	7,549.12 Cr	-3.59%	16.87%	-	1.24%
SBI Innovative Opportunities Fund Direct-GrowthNAV: ₹10.30	5,124.95 Cr	1.47%	-	-	1.04%
Kotak Pioneer Fund Direct-GrowthNAV: ₹37.24	4,294.62 Cr	3.89%	18.68%	13.40%	0.63%
HDFC Innovation Fund Direct-GrowthNAV: ₹11.18	3,152.02 Cr	6.97%	-	-	1.01%
Bandhan Innovation Fund Direct-GrowthNAV: ₹15.16	3,085.41 Cr	9.25%	-	-	0.89%
Nippon India Innovation Fund Direct-GrowthNAV: ₹14.18	2,923.04 Cr	-5.41%	11.41%	-	0.90%
Axis Innovation Fund Direct-GrowthNAV: ₹21.66	1,345.33 Cr	7.35%	16.60%	9.82%	1.36%
Union Innovation & Opportunities Fund Direct-GrowthNAV: ₹15.59	1,306.52 Cr	2.02%	16.10%	-	0.99%
Tata India Innovation Fund Direct-GrowthNAV: ₹9.76	1,244.91 Cr	-3.64%	-	-	0.97%
Baroda BNP Paribas Innovation Fund Direct-GrowthNAV: ₹13.30	859.44 Cr	3.00%	-	-	1.29%
Motilal Oswal Innovation Opportunities Fund Direct-GrowthNAV: ₹13.75	856.21 Cr	3.70%	-	-	1.28%
UTI Innovation Fund Direct-GrowthNAV: ₹11.02	767.83 Cr	-9.34%	3.23%	-	1.25%
Mahindra Manulife Innovation Opportunities Fund Direct-GrowthNAV: ₹10.23	256.96 Cr	-	-	-	0.98%

Thematic-Innovation vs Other Categories

5Y CAGR Return Comparison

11.28%

10.95%

10.84%

10.11%

10.08%

Thematic-Dividend Yield

Thematic-Energy

Thematic-Innovation

Large & MidCap

Thematic-Consumption

Key Insights

Thematic-Innovation delivered 10.84% CAGR over the last 5 years.

It ranks #15 out of 28 categories based on 5Y performance.

Below the category average return of 11.36%.

14 categories outperform it, while 13 categories have lower returns.

Top performer: Sectoral-Auto & Transportation (18.02%).

Lowest performer: Sectoral-Technology (4.75%).

Let's have a closer look

Now let us jump and check about these top 15 mutual fund schemes.

ICICI Prudential Innovation Fund Direct-Growth

Fund Performance: ICICI Prudential Innovation Fund Direct-Growth has given 16.87% annualized returns in the past three years. The ICICI Prudential Innovation Fund Direct-Growth comes under the Equity category of ICICI Prudential Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in ICICI Prudential Innovation Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 7,549.12Cr

1Y Returns

-3.59%

Expense Ratio

1.24%

SBI Innovative Opportunities Fund Direct-Growth

Fund Performance: The SBI Innovative Opportunities Fund Direct-Growth comes under the Equity category of SBI Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in SBI Innovative Opportunities Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 5,124.95Cr

1Y Returns

1.47%

Expense Ratio

1.04%

Kotak Pioneer Fund Direct-Growth

Fund Performance: Kotak Pioneer Fund Direct-Growth has given 18.68% annualized returns in the past three years and 13.40% in the last 5 years. The Kotak Pioneer Fund Direct-Growth comes under the Equity category of Kotak Mahindra Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Kotak Pioneer Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 4,294.62Cr

1Y Returns

3.89%

Expense Ratio

0.63%

HDFC Innovation Fund Direct-Growth

Fund Performance: The HDFC Innovation Fund Direct-Growth comes under the Equity category of HDFC Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in HDFC Innovation Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 3,152.02Cr

1Y Returns

6.97%

Expense Ratio

1.01%

Bandhan Innovation Fund Direct-Growth

Fund Performance: The Bandhan Innovation Fund Direct-Growth comes under the Equity category of Bandhan Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Bandhan Innovation Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 1,000.00

AUM

₹ 3,085.41Cr

1Y Returns

9.25%

Expense Ratio

0.89%

Nippon India Innovation Fund Direct-Growth

Fund Performance: Nippon India Innovation Fund Direct-Growth has given 11.41% annualized returns in the past three years. The Nippon India Innovation Fund Direct-Growth comes under the Equity category of Nippon India Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Nippon India Innovation Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 500.00

AUM

₹ 2,923.04Cr

1Y Returns

-5.41%

Expense Ratio

0.90%

Axis Innovation Fund Direct-Growth

Fund Performance: Axis Innovation Fund Direct-Growth has given 16.60% annualized returns in the past three years and 9.82% in the last 5 years. The Axis Innovation Fund Direct-Growth comes under the Equity category of Axis Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Axis Innovation Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 1,345.33Cr

1Y Returns

7.35%

Expense Ratio

1.36%

Union Innovation & Opportunities Fund Direct-Growth

Fund Performance: Union Innovation & Opportunities Fund Direct-Growth has given 16.10% annualized returns in the past three years. The Union Innovation & Opportunities Fund Direct-Growth comes under the Equity category of Union Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Union Innovation & Opportunities Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 1,000.00

AUM

₹ 1,306.52Cr

1Y Returns

2.02%

Expense Ratio

0.99%

Tata India Innovation Fund Direct-Growth

Fund Performance: The Tata India Innovation Fund Direct-Growth comes under the Equity category of Tata Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Tata India Innovation Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 1,244.91Cr

1Y Returns

-3.64%

Expense Ratio

0.97%

Baroda BNP Paribas Innovation Fund Direct-Growth

Fund Performance: The Baroda BNP Paribas Innovation Fund Direct-Growth comes under the Equity category of Baroda BNP Paribas Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Baroda BNP Paribas Innovation Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 1,000.00

AUM

₹ 859.44Cr

1Y Returns

3.00%

Expense Ratio

1.29%

Motilal Oswal Innovation Opportunities Fund Direct-Growth

Fund Performance: The Motilal Oswal Innovation Opportunities Fund Direct-Growth comes under the Equity category of Motilal Oswal Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Motilal Oswal Innovation Opportunities Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 856.21Cr

1Y Returns

3.70%

Expense Ratio

1.28%

UTI Innovation Fund Direct-Growth

Fund Performance: UTI Innovation Fund Direct-Growth has given 3.23% annualized returns in the past three years. The UTI Innovation Fund Direct-Growth comes under the Equity category of UTI Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in UTI Innovation Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 767.83Cr

1Y Returns

-9.34%

Expense Ratio

1.25%

Mahindra Manulife Innovation Opportunities Fund Direct-Growth

Fund Performance: The Mahindra Manulife Innovation Opportunities Fund Direct-Growth comes under the Equity category of Mahindra Manulife Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Mahindra Manulife Innovation Opportunities Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 1,000.00

AUM

₹ 256.96Cr

1Y Returns

Expense Ratio

0.98%