Kotak Nifty India Tourism Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Kotak Nifty India Tourism Index Fund Direct Growth Plan is a thematic index fund with a current NAV of ₹8.334 as of 10 Sep 2026 and scheme AUM of ₹37 Cr. Its 1-year, 3-year and 5-year returns are -16.72%, 0% and 0%, and it sits in the High Risk category. Our view is that this fund suits investors who understand sector concentration and can tolerate sharp swings, because the portfolio is built around a narrow tourism and travel theme rather than a broad market basket.
The benchmark reference is Nifty 50, which makes the fund’s recent behaviour easy to read against the broader market. The theme has struggled over the 1-year period, but the shorter 3-month pattern shows some recovery. That makes the fund more suitable as a satellite allocation than as a core equity holding.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹8.334 as of 10 Sep 2026 |
| AUM | ₹37 Cr |
| Expense Ratio | 0.33% |
| Launch Date | 23 Sep 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
The fund is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.6% | -4.06% |
| 3M | 7.19% | 1.37% |
| 1Y | -16.72% | -7.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is mixed. Over 1 month, the fund and benchmark both fell, with the fund lagging slightly. Over 3 months, the fund recovered more strongly than the benchmark, which suggests the theme can rebound quickly when sentiment improves.
The 1-year record remains weak, and the fund has underperformed the benchmark over that period. That gap tells us the tourism theme has not been a smooth ride through the full year, even if shorter bursts of recovery have appeared inside the period.
Because the fund launched only in September 2024, there is no meaningful 3-year or 5-year track record yet. For now, the clearest takeaway is that the near-term trend is better than the 1-year result, but the longer lens is still too short to judge stable compounding.
The multipliers also show a theme that moved through phases of drawdown and recovery rather than a straight line. For an index fund tied to a narrow sector idea, that pattern is important: outcomes can change quickly when travel demand, aviation activity or hospitality sentiment shifts, but the path is still likely to remain uneven.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Kotak Nifty India Tourism 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 Kotak Nifty India Tourism Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Kotak Nifty India Tourism Index Fund Direct Growth Plan | -16.72% | 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 weaker than the peer set listed here, while the shorter 3-month rebound is more in line with the stronger short-term momentum seen in some thematic peers. That contrast matters: the fund has not matched the peer group on a 1-year basis, but it has shown a sharper recent bounce than the broader benchmark.
On the longer horizon, there is no 3-year or 5-year peer-style comparison for this fund yet because the scheme is still young. The available peer data points mostly show established thematic funds with positive medium-term records, so our reading is that Kotak Nifty India Tourism Index Fund Direct Growth Plan is still in an early, less proven stage relative to those peers.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Indian Hotels Co Ltd | Hospitality | 20.64% |
| Inter Globe Aviation Ltd | Aviation | 20.14% |
| GMR Airports Limited | Infrastructure | 17.17% |
| ITC Hotels Limited | Domestic Equities | 8.34% |
| Jubilant Foodworks Limited | FMCG | 7.86% |
| Indian Railway Catering and Tourism Corporation LT | Hospitality | 6.77% |
| Eih Ltd. | Hospitality | 2.97% |
| Chalet Hotels Ltd. | Hospitality | 2.66% |
| Lemon Tree Hotels Ltd | Hospitality | 2.49% |
| Tbo Tek Limited | Hospitality | 2.41% |
The largest holding, Indian Hotels Co Ltd, accounts for 20.64% of the portfolio, so a single company can have a meaningful influence on fund movement. The next two holdings, Inter Globe Aviation Ltd and GMR Airports Limited, are also large, which tells us that the fund is not widely diluted across many similar-sized positions.
The drop from the largest holding to the tenth is noticeable, but not extreme. After the first few positions, the weights step down into the low single digits, which means the portfolio may still be driven by a small set of travel-linked names even though there is a longer tail of smaller positions.
The top 10 holdings account for approximately 91.45% of the portfolio, and the scheme discloses 15 holdings in total. That combination points to a fairly concentrated structure, which may increase sensitivity to sector-specific news while still giving some breadth across hospitality, aviation, airports and travel-related businesses.
To see all holdings, visit the Kotak Nifty India Tourism Index Fund Direct Growth Plan page
Source data date: as of 10 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk exposure and want a narrow tourism-and-travel theme rather than a broad diversified equity approach. The 1-year loss and the stronger 3-month rebound show that the fund can swing sharply, so a longer horizon is important.
The main trade-off is simple: the portfolio offers focused participation in a cyclical theme, but that focus also brings concentration risk. Investors who prefer steadier compounding or a close match to the broader market may find the benchmark-style exposure less relevant than the theme-specific ups and downs here.
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 if units are sold anytime.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of Kotak Nifty India Tourism Index Fund Direct Growth Plan?
The current NAV is ₹8.334 as of 10 Sep 2026.
How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is -16.72%, while the 3-year and 5-year returns are both 0 in the available record because the scheme is still very new.
How does the fund compare with the benchmark?
The fund has lagged the benchmark over 1 year, but it has done better over 3 months. Over 1 month, both were negative and the fund slipped a little more than the benchmark.
How does it compare with the peer funds listed here?
On the available 1-year figures, the fund is well below the other listed thematic peers, while the 3-month rebound is stronger than the benchmark but not directly comparable with the peer list because those figures are not shown here.
Does the fund have a minimum SIP?
Yes. The minimum SIP amount is ₹100.
What are the portfolio and exit-load characteristics?
The portfolio is concentrated, with Indian Hotels Co Ltd at 20.64% and the top 10 holdings accounting for 91.45% of the fund. There is no exit load if units are sold anytime.
This fund may suit investors who can tolerate sharp swings and are looking for a focused tourism theme rather than a broad market fund.
Published on 11 September 2026 at 5:53 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.