DSP Nifty 50 Equal Weight Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
DSP Nifty 50 Equal Weight Index Fund Direct Growth Plan has a NAV of ₹26.8104 as of 11 Sep 2026 and an AUM of ₹2,671 Cr. Its 1-year, 3-year and 5-year returns are 0.5%, 11.07% and 11.44%, and the scheme is tagged High Risk. Our view is that it suits investors who want equal-weight exposure to the Nifty 50 and can accept uneven short-term performance in exchange for steadier longer-term compounding.
It has been launched on 23 Oct 2017 and carries an expense ratio of 0.41%. The fund’s return pattern shows a weak recent stretch but a much firmer longer-term track, which can appeal to investors who are comfortable staying invested through periods when the benchmark and the fund both move sharply.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹26.8104 as of 11 Sep 2026 |
| AUM | ₹2,671 Cr |
| Expense Ratio | 0.41% |
| Launch Date | 23 Oct 2017 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Anil Ghelani, Diipesh Shah, Neha Rathi |
The fund is managed by Anil Ghelani, Diipesh Shah and Neha Rathi.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.6% | -3.66% |
| 3M | -0.76% | -1.91% |
| 1Y | 0.5% | -7.62% |
| 3Y | 11.07% | 6.22% |
| 5Y | 11.44% | 5.84% |
The near-term picture is mixed but not broken. Over 1 month and 3 months, the fund was still negative, yet it held up better than the benchmark over 3 months and was almost flat relative to the benchmark over 1 month. That tells us the fund has not been immune to market swings, but it has shown some resilience in the shorter window.
The 1-year return is the most striking recent number because the fund stayed marginally positive while the benchmark was clearly negative. That is a useful sign for investors who want a passive Nifty 50 alternative that can move differently from the headline index over specific stretches, even if it does not remove volatility.
The longer record is stronger. Both the 3-year and 5-year returns are ahead of the benchmark by a wide margin, which suggests the equal-weight structure has contributed to a better compounding experience over time than the cap-weighted index in this period. In our view, the recent softness does not overturn the broader trend, but it does remind investors that the path is uneven.
The daily movement pattern also points to volatility rather than smooth gains. The fund has seen several drawdowns and recoveries across the 1-year, 3-year and 5-year windows, so the return profile fits an investor who can tolerate periods of lag and recovery without reacting to every short-term swing.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD DSP Nifty 50 Equal Weight 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 DSP Nifty 50 Equal Weight Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| DSP Nifty 50 Equal Weight Index Fund Direct Growth Plan | 0.5% | 11.07% | 11.44% |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 32.61% | 29.92% | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 26.23% | Data not available | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 26.22% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 26.18% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 25.91% | 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 recent peer figures in this set, which are in the mid-20% to low-30% range. That makes the recent stretch look subdued when set against thematic and international index funds, even though those comparisons come from very different risk drivers.
On the longer horizon, the fund’s 3-year and 5-year returns are more constructive. They are ahead of the benchmark and also stronger than the one peer in this table with longer history, which helps support the case that the equal-weight approach has worked better over multi-year periods than in the latest year. The short-term and longer-term stories are therefore different: recent returns look muted, but the extended record is healthier.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eternal Limited | Retailing | 2.53% |
| Bajaj Auto Limited | Automobile & Ancillaries | 2.46% |
| Titan Co Limited | Diamond & Jewellery | 2.33% |
| HCL Technologies Limited | IT | 2.32% |
| Tata Consultancy Services Limited | IT | 2.25% |
| Bajaj Finserv Limited | Finance | 2.24% |
| Tech Mahindra Limited | IT | 2.2% |
| Shriram Finance Limited | Finance | 2.15% |
| Nestle India Limited | FMCG | 2.14% |
| Grasim Industries Limited | Diversified | 2.13% |
The top 10 holdings account for approximately 22.75% of the portfolio.
To see all holdings, visit the DSP Nifty 50 Equal Weight Index Fund Direct Growth Plan page
The largest holding is Eternal Limited at 2.53%, so no single stock dominates the disclosed book. The gap from the first holding to the tenth is modest, which is what we would expect in an equal-weight style portfolio; each position is kept in a fairly narrow band rather than allowing one name to become overwhelmingly large.
That relatively tight spread can make the portfolio less dependent on a handful of giant positions, although it also means the fund may not capture the same momentum from the very largest market leaders as a cap-weighted index would. The disclosed top 10 together account for 22.75% of the portfolio, while the full holding count is 50, so the visible book suggests a broad spread across many names rather than a highly concentrated structure.
For investors, that mix may be useful if they want diversified Nifty 50 exposure with a more balanced allocation across constituents. The trade-off is that returns may look different from the standard index in shorter periods, especially when the largest index names are driving market moves.
Source data date: as of 11 Sep 2026
Who should invest
This fund is better suited to investors who can handle High Risk exposure and stay invested for at least a medium-to-long horizon. The 1-year return has been weak, while the 3-year and 5-year figures are much stronger, so patience matters here.
It can appeal to investors who want Nifty 50 exposure but are comfortable with an equal-weight construction that may behave differently from the benchmark in the short run. The main trade-off is that you accept more uneven short-term results in exchange for a longer record that has been more supportive than the benchmark.
That makes it a fit for investors who value diversification across Nifty 50 names and can tolerate periods when the fund lags or swings around before recovering.
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 11 Sep 2026
Frequently asked questions
What is the current NAV of DSP Nifty 50 Equal Weight Index Fund Direct Growth Plan?
The current NAV is ₹26.8104 as of 11 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 0.5%, the 3-year return is 11.07%, and the 5-year return is 11.44%.
How has the fund performed versus its benchmark?
It has beaten the benchmark over 3 years and 5 years, and it also stayed slightly positive over 1 year while the benchmark was negative. The shorter windows have been weaker, so the path has not been smooth.
How does it compare with the peer funds listed here?
Its 1-year return is far below the stronger recent figures among the peer funds listed here, but its 3-year and 5-year track are more in line with a longer-term compounding story. The peer comparison therefore looks much stronger in the short term than in the long term for this fund.
Does it have a minimum SIP amount?
Yes. The minimum SIP amount is ₹100.
What risk and portfolio style should investors expect?
The scheme is tagged High Risk and follows an equal-weight approach across Nifty 50 constituents. Its top 10 holdings together account for 22.75% of the portfolio, so the structure is broad rather than highly concentrated.
Bottom line
This fund’s recent performance is much softer than its 3-year and 5-year record, so the story is one of short-term weakness against a stronger longer-term pattern. Compared with the benchmark, the multi-year returns are better, while the 1-year period has been far less impressive. The High Risk profile and equal-weight structure mean investors get diversified Nifty 50 exposure, but they must be comfortable with uneven swings and periods of lag before the longer-term picture matters more.
Published on 15 September 2026 at 3:37 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.