What is a growth of ₹100 chart?
Fund NAVs are hard to compare directly. A fund with a NAV of ₹480 and one with a NAV of ₹16 are not “expensive” and “cheap”: each is just where its own history left it. Growth of ₹100 fixes this by rebasing every fund to 100 at the same start date, so the line shows what a ₹100 investment would have become.
If a fund’s line reaches 135, ₹100 invested at the start has grown to ₹135. Two funds can then be read side by side, and the differences are differences in return, not in unit price.
Value = 100 × (NAV on date / NAV on start date)
It uses the Growth option’s NAV, which already includes reinvested income, and ignores taxes and any entry or exit load.
Real growth of ₹100 across 6 funds
The chart starts every direct-plan fund at 100 on 2023-10-31 and follows it to 2026-10-22.
CHART
Value of ₹100 invested on 2023-10-31 - 6 real funds
Direct-plan Growth NAVs rebased to 100 at the start. Checkpoints are the NAV nearest one-year marks, from weekly NAV history.
| Fund | After ~1 year | After ~2 years | Latest | Equivalent CAGR |
|---|---|---|---|---|
| DSP Value | ₹139.94 | ₹155.31 | ₹155.67 | 16.03% |
| SBI Focused | ₹128.94 | ₹145.15 | ₹148.11 | 14.09% |
| Parag Parikh Flexi Cap | ₹136.9 | ₹150.31 | ₹141.65 | 12.4% |
| ICICI Prudential Value | ₹141.66 | ₹153.17 | ₹137.62 | 11.32% |
| SBI Multicap | ₹139.2 | ₹148.83 | ₹135.04 | 10.61% |
| Parag Parikh ELSS Tax Saver | ₹133.63 | ₹142.84 | ₹126.83 | 8.31% |
Over about 2.98 years, ₹100 grew to ₹155.67 in DSP Value and to ₹126.83 in Parag Parikh ELSS Tax Saver. The gap between the first and last fund is ₹28.84 on every ₹100.
What a growth chart shows that a return figure hides
A single return number does not show the path. Parag Parikh ELSS Tax Saver reached ₹142.84 at its high point and stands at ₹126.83 now, a fall of ₹16.01 from the peak. An investor who looked only at the final figure would not know that the fund had recently given back gains. A growth chart shows that path, which is also why it is a good companion to maximum drawdown.
It also shows when a fund’s lead was earned. In these funds the first year added about ₹37 per ₹100 on average, the second year added about ₹13, and in the latest stretch 4 of the 6 funds ended lower than a year earlier. Chart lines that move together, as these do, tell you the funds responded to the same market.
How to use it
Pick the period that matches your own horizon, and compare funds in the same category. Be wary of where the chart starts: a chart that begins at a market low flatters every fund, and one that begins at a peak does the opposite. Check the same funds over several start dates, which is what rolling returns do systematically. To turn a growth chart into a yearly rate, use CAGR.
Frequently asked questions
Why use 100 as the starting value?
It is just a convenient base. Rebasing to 100 makes every fund start at the same point, so the end value reads directly as a percentage: 135 means a 35% gain.
Does growth of ₹100 include dividends?
For the Growth option, yes. Income stays in the fund and raises the NAV. For an IDCW option, payouts are taken out of the NAV, so its chart would understate the investor’s gain unless the payouts are added back. See IDCW vs Growth.
Is it the same as my own return?
No. It shows a single investment made on the start date and held throughout. If you invested through a SIP or on other dates, your result differs, and XIRR is the right measure.
WHAT THIS MEANS FOR YOU A growth chart describes the past on one start date. Do not extend a line forward, and do not pick a fund from a single chart. Past growth does not repeat on schedule, and a different start date can reorder the funds.
METHODOLOGY Direct-plan Growth NAVs from the Punji NAV history (D1 price_history), direct-plan Growth NAVs; window starts at the point nearest 31 Oct 2023. Values rebased to 100 at the point nearest 2023-10-31; checkpoints are the NAVs nearest one-year marks in weekly NAV history, and the last point is the latest NAV (2026-10-22). Equivalent CAGR is computed from the first and last points. Past performance is not a guide to future returns. Not investment advice.