Navi Nifty 500 Multicap 50:25:25 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Navi Nifty 500 Multicap 50:25:25 Index Fund Direct Growth Plan has a NAV of ₹10.1382 as of 10 Sep 2026 and a scheme AUM of ₹27 Cr. Its 1-year, 3-year and 5-year returns are 2.23%, 0% and 0%, and the fund sits in the High Risk category. Our view is that this is a young index fund with limited track record, so it suits investors who want a rules-based multicap exposure and can accept short-term swings more than they expect steady compounding.
The fund has moved modestly over the recent periods, but the longer history is still too short to draw a firm conclusion on durability. With a low expense ratio, a diversified multicap structure and a large-bank heavy top holding mix, it may work better as a core market exposure than as a return-chasing satellite allocation.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.1382 as of 10 Sep 2026 |
| AUM | ₹27 Cr |
| Expense Ratio | 0.36% |
| Launch Date | 01 Aug 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Ashutosh Shirwaikar |
The fund is managed by Ashutosh Shirwaikar.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.41% | -4.06% |
| 3M | 5.34% | 1.37% |
| 1Y | 2.23% | -7.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Recent performance has been mixed, but the fund has held up better than the benchmark over the most recent 1-month and 1-year windows. The 1-month return was negative, yet the drop was smaller than the benchmark’s decline, which suggests the fund has recently been less weak than the benchmark in a softer patch.
The stronger sign comes from the 3-month figure, where the fund’s gain is well ahead of the benchmark. That tells us the fund has recovered better over the short quarter than the benchmark has. Still, the 1-year return remains modest, so the recent bounce has not yet translated into a strong full-year outcome.
Longer-term interpretation is limited because the fund is too new to provide 3-year and 5-year return history. For that reason, our view is that the current evidence points to short-run resilience rather than a proven compounding record.
Against the benchmark, the fund is ahead in every available period here. That is positive, but the narrow history means the comparison is more useful for measuring current behaviour than for judging full-cycle consistency.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Navi Nifty 500 Multicap 50:25:25 Index?
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 Navi Nifty 500 Multicap 50:25:25 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Navi Nifty 500 Multicap 50:25:25 Index Fund Direct Growth Plan | 2.23% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 33.08% | 30.07% | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 26.95% | Data not available | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 26.94% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 24.33% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 23.74% | 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 1-year return is far below the strongest peer figures shown here, while the peers with available 3-year numbers also stand much higher on that measure. That said, the comparison is not one-dimensional: this fund’s recent 1-month and 3-month moves are steadier than the benchmark, and the peer set mixes very different themes, so the short-term gap is more about recent momentum than about a direct like-for-like verdict.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 3.95% |
| ICICI Bank Limited | Bank | 3.79% |
| Reliance Industries Limited | Crude Oil | 3.14% |
| Bharti Airtel Limited | Telecom | 2% |
| Larsen & Toubro Limited | Infrastructure | 1.72% |
| State Bank of India | Bank | 1.59% |
| Infosys Limited | IT | 1.45% |
| Axis Bank Limited | Bank | 1.36% |
| Kotak Mahindra Bank Limited | Bank | 1.12% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 1.07% |
The largest holding, HDFC Bank Limited, is 3.95%, which is sizeable for a single stock but still not dominant on its own. The drop from the first holding to the tenth is gradual rather than abrupt, moving from 3.95% to 1.07%, so the fund does not rely on one outsized position to carry the portfolio.
The top 10 holdings together account for approximately 21.19% of the portfolio, which suggests a fairly extended tail beyond the largest names. With 27 holdings disclosed in total, the fund appears to spread exposure across a broad set of companies rather than concentrate everything in a few positions. That structure may reduce single-stock dependence, although the largest banks in the list could still carry greater influence on day-to-day movement.
Because the portfolio is built around large, liquid names across banking, telecom, infrastructure, IT and autos, its behaviour may remain closely tied to large-cap market leadership even within a multicap framework. That mix can be useful for investors who want broad market participation with a strong anchor in established businesses.
To see all holdings, visit the Navi Nifty 500 Multicap 50:25:25 Index Fund Direct Growth Plan page
Source data date: as of 10 Sep 2026
Who should invest
This fund fits investors who can tolerate High Risk and want a passive multicap allocation rather than an actively managed stock-picking approach. The short-term numbers show that it has recently held up better than the benchmark, but the fund’s full performance record is still limited because it launched in August 2024.
The better fit is therefore a medium- to long-term horizon, where a rules-based index strategy has more time to show whether it can stay consistent through different market conditions. The main trade-off is that investors get broad participation and low-cost indexing, but they must accept that returns may move with market cycles and that the longer track record is not yet available.
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: No exit load.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of Navi Nifty 500 Multicap 50:25:25 Index Fund Direct Growth Plan?
The current NAV is ₹10.1382 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 2.23%, while the 3-year and 5-year returns are Data not available because the fund does not have those full periods yet.
How has the fund compared with its benchmark?
It has beaten the benchmark in every available period shown here: 1 month, 3 months and 1 year. The gap is especially clear over 3 months and 1 year.
How does it compare with the peer funds listed here?
Its 1-year return is much lower than the peer figures shown here, while the peers with 3-year data also show much stronger numbers. The short-term gap is meaningful, but the comparison is influenced by the fact that the peer list includes different themes and market segments.
Is there a minimum SIP amount?
The minimum SIP amount is ₹100.
What is the risk profile and who manages the fund?
The fund is in the High Risk category and is managed by Ashutosh Shirwaikar. Its top holdings are led by HDFC Bank Limited, ICICI Bank Limited and Reliance Industries Limited.
Bottom line
Navi Nifty 500 Multicap 50:25:25 Index Fund Direct Growth Plan has shown a better short-term pattern than its benchmark, but its broader track record is still limited because it is a relatively new launch. Against the peer figures shown here, its return profile is much softer, although those peers represent different themes and therefore are not a straight like-for-like comparison. The portfolio is led by large, liquid businesses and the top holdings do not dominate the scheme, which may suit investors who want broad market participation with High Risk tolerance and a medium- to long-term horizon.
Published on 11 September 2026 at 3:54 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.