Mirae Asset Nifty200 Alpha 30 ETF FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset Nifty200 Alpha 30 ETF FoF Direct Growth Plan had a NAV of ₹9.287 as of 10 Sep 2026 and an AUM of ₹198 Cr. Its 1-year, 3-year and 5-year returns are 4.85%, 0% and 0%, and the scheme is tagged High Risk. Our view is that this is a narrow, outcome-driven fund with a short live track record, so it suits investors who are comfortable with sharp swings and want exposure through a fund-of-funds structure rather than a broad, long-established return profile.
The fund’s recent return pattern is mixed: the latest year is positive, but the mid-horizon record is still too limited to show a stable long-cycle compounding history. With a low expense ratio of 0.1% and a portfolio that is effectively concentrated in one underlying ETF position, the fund may appeal to investors who can tolerate concentrated exposure and want a simple implementation path. It is less compelling for those looking for a long, proven, multi-cycle record.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹9.287 as of 10 Sep 2026 |
| AUM | ₹198 Cr |
| Expense Ratio | 0.1% |
| Launch Date | 26 Jul 2024 |
| Min SIP | ₹99 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Others |
| Exit Load | 0.05% on or before 15D, Nil after 15D |
| Fund Managers | Ekta Gala, Akshay Udeshi |
The fund is managed by Ekta Gala and Akshay Udeshi.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.72% | -4.06% |
| 3M | 6.75% | 1.37% |
| 1Y | 4.85% | -7.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
In the latest month, the fund held up better than the benchmark even though both were weak. Over three months, it moved ahead of the benchmark by a wide margin, which suggests a clearer recovery in the fund than in the index over the same stretch. That matters because the short-term pattern is not just about one good day or week; it shows the fund has recently been more resilient than its benchmark.
The one-year picture is also stronger for the fund than for the benchmark. The fund’s 4.85% return contrasts with a negative benchmark reading, so the fund has added value relative to the comparison index over the period that is currently available. At the same time, the series does not yet give us a full multi-year cycle, so we would treat the one-year lead as encouraging rather than conclusive.
Recent strength is more visible than the longer horizon, but that longer horizon is still incomplete because the scheme launched in July 2024. The pattern we see is a fund that has recovered after pockets of weakness and has stayed ahead of the benchmark in the shorter windows. For investors, that means recent behaviour has been better than the benchmark, yet the absence of a mature 3-year or 5-year record limits how far we can extend that judgment.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Mirae Asset Nifty200 Alpha 30 ETF FoF?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Mirae Asset Nifty200 Alpha 30 ETF FoF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset Nifty200 Alpha 30 ETF FoF Direct Growth Plan | 4.85% | Data not available | Data not available |
| DSP Silver ETF FoF Direct Growth Plan | 85.74% | Data not available | Data not available |
| ICICI Pru Silver ETF FOF Direct Growth Plan | 85.05% | 46.51% | Data not available |
| UTI Silver ETF FoF Direct Growth Plan | 81.9% | 46.49% | Data not available |
| Tata Silver ETF FoF Direct Growth Plan | 79.88% | Data not available | Data not available |
| DSP Gold ETF FoF Direct Growth Plan | 38.79% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s one-year return is materially lower than the peer returns listed here, which are all much stronger over the same period. That said, the peer group also includes funds with very different underlying themes, so the comparison is best read as a return snapshot rather than a like-for-like conclusion. On the available longer-horizon figures, the fund does not have a 3-year or 5-year record yet, while some peers do, so the story is uneven: short-term relative underperformance on the table, but also an incomplete long-term history.
For readers focused on consistency, that difference matters. The current fund has a small but positive one-year result and a better-than-benchmark short-term pattern, yet the peer set shows far more robust figures where 1-year and 3-year data exist. That makes the fund look less established on return history, even though its recent benchmark-relative behaviour is constructive.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Mirae Asset Nifty 200 Alpha 30 ETF | Domestic Mutual Funds Units | 100.06% |
The fund’s disclosed portfolio is fully concentrated in one underlying holding, so the entire strategy currently runs through a single ETF position. At 100.06%, the disclosed weight is effectively all of the visible portfolio, which means the largest holding is not just important; it is the portfolio itself at this level of disclosure.
Because there is only one disclosed holding, there is no drop-off from the largest position to a tenth position in the usual sense. Instead, the key interpretation is concentration: the fund may behave more like a focused wrapper around one underlying instrument than like a diversified basket. That can make return outcomes more direct, but it also reduces the amount of diversification visible in the portfolio data.
The top disclosed holdings account for approximately 100% of the portfolio, and the fund shows only one disclosed holding row. In practical terms, that suggests very limited spread across holdings and a structure where a single position is likely to have the greatest influence on outcomes. For investors, the question is not breadth across many holdings but comfort with a concentrated implementation.
Source data date: as of 10 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with High Risk exposure and who can stay invested long enough to tolerate uneven short-term moves. The 1-year return is positive, but the 3-year and 5-year records are not yet available, so the investment case rests more on the recent pattern than on a long cycle of results. That makes the current horizon important: a patient investor is more likely to judge it fairly than someone looking for a mature track record.
The main trade-off is between recent benchmark-relative strength and the lack of a deeper history. The fund has recently done better than its benchmark, but peers with available longer-horizon numbers show much stronger return histories. Investors who want a concentrated, low-cost structure may find that appealing; investors who need broader diversification or a longer record may prefer to wait.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 0.05% on or before 15D, Nil after 15D. There is no exit load after the holding period.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset Nifty200 Alpha 30 ETF FoF Direct Growth Plan?
The NAV is ₹9.287 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 4.85%, while the 3-year and 5-year returns are not available yet.
How has it done against the benchmark?
It has done better than the benchmark over 1 month, 3 months and 1 year. The 1-year figure is especially notable because the benchmark was negative over the same period.
How does it compare with the peer funds listed here?
Its 1-year return is far lower than the peer returns shown here. The comparison also stays uneven because this fund does not yet have 3-year or 5-year figures, while some peers do.
Does the fund have a minimum SIP amount?
Yes, the minimum SIP amount is ₹99.
Who manages the fund and what is the exit load?
The fund is managed by Ekta Gala and Akshay Udeshi. The exit load is 0.05% on or before 15D and nil after 15D.
Bottom line
Mirae Asset Nifty200 Alpha 30 ETF FoF Direct Growth Plan shows better recent behaviour than its benchmark, but its longer-term picture is still incomplete because the scheme is relatively new. Compared with the peer return figures shown here, it looks materially weaker on the one-year number and lacks 3-year and 5-year history. The structure is highly concentrated in one disclosed holding, so investors need comfort with that setup and with High Risk volatility. It is a more suitable fit for patient investors who can accept a limited track record.
Published on 11 September 2026 at 3:25 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.