Motilal Oswal Innovation Opportunities Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Motilal Oswal Innovation Opportunities Fund Direct Growth Plan has a NAV of ₹15.0181 as of 15 September 2026 and a scheme AUM of ₹793 Cr. Its 1-year, 3-year and 5-year returns are 13.86%, 0% and 0%, and it sits in the High Risk category. Our view is that this is a fund for investors who can accept sharp swings and want an innovation-led equity allocation, but the short history and the weak longer-term record mean the recent improvement needs to be read with caution.
The fund has beaten its benchmark over 1 year, yet the 3-year and 5-year figures are not meaningful as realised long-term records. That makes the portfolio mix and the recent run especially important: the fund is built around active stock selection, a moderate cash position and a concentrated set of holdings that can move the outcome quickly in either direction.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹15.0181 as of 15 Sep 2026 |
| AUM | ₹793 Cr |
| Expense Ratio | 1.02% |
| Launch Date | 18 Feb 2025 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 90D, Nil after 90D |
| Fund Managers | Atul Mehra, Varun Sharma, Rakesh Shetty |
The fund is managed by Atul Mehra, Varun Sharma and Rakesh Shetty.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 1.09% | -4.81% |
| 3M | 9.16% | -3.63% |
| 1Y | 13.86% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is better than the benchmark across every available period. Over 1 month, the fund held up while the benchmark stayed negative, and the 3-month period shows a clearer gap in favour of the fund. That is useful because it suggests the latest phase has been more resilient than the broader market reference.
The 1-year number gives the cleanest read on the fund’s current shape. A 13.86% return against a negative benchmark return points to stock selection that has worked better than the index over this stretch. At the same time, the path was not smooth, so we would not treat the result as a low-volatility outcome. This is still a portfolio that can behave unevenly.
Longer-dated figures are not available in a way that lets us judge a full cycle, so our view is that the recent strength matters more than any long-term compounding story here. The main takeaway is that the fund has outpaced the benchmark in the periods available, but the short track record means investors should anchor expectations to the fund’s current style rather than assume a full market cycle has already been proven.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Motilal Oswal Innovation Opportunities?
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 Motilal Oswal Innovation Opportunities? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Motilal Oswal Innovation Opportunities Fund Direct Growth Plan | 13.86% | Data not available | Data not available |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 69.16% | 37.12% | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 27.47% | Data not available | Data not available |
| SBI Automotive Opportunities Fund Direct Growth Plan | 27.05% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 26.51% | Data not available | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 25.46% | 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 trails every listed peer in this set, even though it is still ahead of the benchmark over the same period. That tells us the fund has been competitive versus the market reference, but not versus the strongest specialised peers on a 1-year basis.
On the longer horizon, the comparison is more limited because most peer rows do not have 3-year or 5-year values, while the current fund also does not present usable long-horizon returns. In practical terms, the peer table points to a short-term performance gap, but not to a complete long-term verdict.
So the story is mixed: the recent run is positive versus the benchmark, while the peer set shows that the fund has not matched the most emphatic near-term gains among similar thematic or sector-focused strategies.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Triparty Repo | Cash & Cash Equivalents and Net Assets | 9.5% |
| Coforge Limited | IT | 5.83% |
| RBL Bank Limited | Bank | 4.03% |
| Dixon Technologies (India) Limited | Consumer Durables | 4.01% |
| Entero Healthcare Solutions Ltd | Trading | 3.42% |
| ABB India Limited | Capital Goods | 3.31% |
| Interglobe Aviation Limited | Aviation | 3.29% |
| Uno Minda Limited | Automobile & Ancillaries | 3.25% |
| Eclerx Services Limited | IT | 3.17% |
| Emmvee Photovoltaic Power Limited | Domestic Equities | 3.14% |
The top 10 holdings account for approximately 42.95% of the portfolio.
To see all holdings, visit the Motilal Oswal Innovation Opportunities Fund Direct Growth Plan page
Triparty Repo is the largest holding at 9.5%, and that cash-like position may help reduce immediate portfolio stress, though it also means a part of the portfolio is not directly exposed to equity upside at all times. The next positions are much smaller, with the largest equity name at 5.83% and the tenth holding at 3.14%, so the weight curve eases down fairly steadily rather than relying on one or two dominant stocks.
That shape suggests the fund is not extremely top-heavy, but it is still selective enough that a few positions may have greater influence on outcomes. With 34 disclosed holdings and the top 10 already accounting for 42.95%, the portfolio appears to combine a focused core with a longer tail of smaller bets. In our view, that can create room for stock-specific gains, while also leaving the fund exposed if a few large positions move against it.
Source data date: as of 15 Sep 2026
Who should invest
This fund is suited to investors who can tolerate High Risk and who are comfortable with a portfolio that may move unevenly from period to period. The available return pattern shows a better recent stretch than the benchmark, but it does not yet provide a long, steady record across multiple market phases.
We think the cleaner fit is for a medium- to long-term horizon, where investors can absorb swings and wait for the stock selection approach to work through different conditions. The main trade-off is simple: you get the chance to participate in a focused, innovation-oriented equity strategy, but you also accept the possibility of more variable outcomes than a broader, lower-risk equity fund.
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: 1% on or before 90 days; no exit load after the holding period.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Motilal Oswal Innovation Opportunities Fund Direct Growth Plan?
Its NAV is ₹15.0181 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 13.86%. The 3-year and 5-year returns are not available in a usable long-term format here.
How has the fund performed versus the benchmark?
It has outperformed the Nifty 50 over 1 month, 3 months and 1 year. The 1-year benchmark return is -8.27% versus the fund’s 13.86%.
How does it compare with the listed peer funds?
Its 1-year return is below the listed peers shown here, while the longer-horizon comparison is limited because most peer rows do not have 3-year or 5-year figures available.
Is there a minimum SIP?
Yes, the minimum SIP is ₹500.
What are the fund manager names and the exit load?
The fund is managed by Atul Mehra, Varun Sharma and Rakesh Shetty. The exit load is 1% on or before 90 days, and there is no exit load after the holding period.
Bottom line
This fund’s recent performance is stronger than its benchmark, but the available peer set shows that its 1-year return is softer than the more aggressive specialised funds listed alongside it. The portfolio is fairly focused, with 34 disclosed holdings and a meaningful top-10 weight, so individual stock moves can matter. High Risk is the right label for the type of ride here. For investors who want a concentrated innovation-style equity approach and can stay patient through uneven periods, it may be worth tracking closely.
Published on 16 September 2026 at 12:37 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.