Angel One Nifty Total Market Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Angel One Nifty Total Market Index Fund Direct Growth Plan currently has a NAV of ₹11.8687 as of 02 Sep 2026 and an AUM of ₹61 Cr. Its 1-year, 3-year and 5-year returns are 3.21%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this is a straightforward index option for investors who want broad market exposure, but the short operating history and uneven recent behaviour mean it still deserves patience.

The fund has been live only since 28 Feb 2025, so the numbers available so far are limited. Against that backdrop, the recent return pattern has been mixed, with short-term swings around a modestly positive 1-year figure. That makes it more suitable for investors who are comfortable with sharp market-linked moves and who can stay invested long enough for the full-market approach to matter.

Quick facts

The fund is managed by Kewal Shah.

Source data date: as of 02 Sep 2026

Performance

The recent picture is stronger than the benchmark over 3 months and 1 year, but the last month shows a small setback for the fund as well as for the benchmark. That tells us the strategy has participated in the market’s ups and downs rather than moving in a straight line.

Over 3 months, the fund’s 4.13% return is ahead of the benchmark’s 2.17%, which suggests a better short-run stretch even though the path has not been smooth. The 1-month number is negative, but it is less weak than the benchmark over the same window, so the fund has held up somewhat better in the latest drift lower.

The bigger limitation is history. Because the fund is only about a year and a half old, there is no meaningful 3-year or 5-year record yet. That makes the 1-year result useful as a snapshot, but not enough on its own to judge whether the recent outperformance can persist through a full market cycle.

Overall, the evidence so far points to a fund that is broadly tracking market direction with some short-term resilience. Investors should read the recent numbers as an early indication rather than a long record of compounding.

Source data date: as of 02 Sep 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the numbers available here, the fund’s 1-year return is far lower than the stronger peer figures, while its 3-month reading is still positive and ahead of the benchmark. The comparison therefore tells two different stories: the short-term trend is not weak, but it has not yet translated into a competitive 1-year record versus the peer set we reviewed. Because the fund has no 3-year or 5-year history yet, longer-horizon peer comparison is not available for this scheme.

Source data date: as of 02 Sep 2026

Portfolio: where your money goes

The top 10 holdings account for approximately 28.14% of the portfolio. To see all holdings, visit the Angel One Nifty Total Market Index Fund Direct Growth Plan page

The largest holding, HDFC Bank Limited, has a weight of 5.46%, so no single stock dominates the disclosed basket. The tenth holding, Mahindra & Mahindra Limited, is at 1.45%, which shows that the visible weights taper off fairly quickly after the first few names. That pattern may reduce dependence on one or two positions, even though the largest names still have the greatest influence.

At 28.14% across the top 10 holdings, the displayed slice is only part of a 37-holding portfolio. That suggests the fund is spread across a wider tail of smaller positions rather than concentrated entirely in the top names. For investors, that mix may help the fund reflect a broader total-market approach, while the biggest constituents can still pull returns around when large-cap movers lead the market.

Source data date: as of 02 Sep 2026

Who should invest

This fund is better suited to investors who can tolerate High Risk volatility and do not need a smooth return path. The 1-year figure is positive, but the 3-month and 1-month moves show that it can still swing meaningfully in the short run.

It fits a longer investment horizon, where the aim is to stay invested through market cycles rather than judge the fund on a few quarters of data. The key trade-off is that you get broad market exposure and low expense ratio pricing, but you must accept benchmark-linked ups and downs and the fact that the fund does not yet have a long track record.

Tax and exit load

Exit load: No exit load.

Source data date: as of 02 Sep 2026

Frequently asked questions

What is the current NAV of Angel One Nifty Total Market Index Fund Direct Growth Plan?
The current NAV is ₹11.8687 as of 02 Sep 2026.

How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is 3.21%. The 3-year and 5-year figures are not available because the fund does not yet have that history.

How does the fund compare with the benchmark?
Over 1 month, 3 months and 1 year, the fund has been ahead of the benchmark on the available figures. The 3-month gap is especially noticeable, with the fund at 4.13% versus the benchmark at 2.17%.

How does it compare with the peer funds listed here?
Its 1-year return is well below the stronger peer figures shown in this review, while several peer funds have much higher 1-year numbers. The fund’s 3-year and 5-year figures are not available, so longer-term comparison is not possible yet.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

Who manages the fund, and what is the exit load?
The fund is managed by Kewal Shah. There is no exit load.

Bottom line

Angel One Nifty Total Market Index Fund Direct Growth Plan has shown a better short-term run than its benchmark, especially over 3 months and 1 year, but the path has already been uneven. Compared with the peer set reviewed here, its 1-year return is much weaker, and there is no 3-year or 5-year record yet to judge longer compounding. The portfolio is spread across 37 holdings, with the top 10 accounting for 28.14%, which points to a broad-based market exposure rather than a highly concentrated bet.

Published on 3 September 2026 at 6:59 PM IST