UTI BSE Sensex Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI BSE Sensex Index Fund Direct Growth Plan has a NAV of ₹13.4502 as of 16 Sep 2026 and a scheme AUM of ₹194 Cr. Its 1-year, 3-year and 5-year returns are -9%, 4.04% and 0%, and it sits in the High Risk bucket. Our view is that this is a straightforward index-fund option for investors who want benchmark-style exposure, but the return pattern has been uneven over the recent period and the fund has not kept pace with its benchmark over the same horizons.
The fund’s low expense ratio of 0.2% supports a cost-conscious case, while the portfolio is anchored by large financials and a few other heavyweight stocks. That mix can make the scheme more sensitive to moves in a small set of large companies, even though it remains an index strategy rather than an actively rotated portfolio.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.4502 as of 16 Sep 2026 |
| AUM | ₹194 Cr |
| Expense Ratio | 0.2% |
| Launch Date | 31 Jan 2022 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Sharwan Kumar Goyal, Ayush Jain, Lokesh Kulthia |
The fund is managed by Sharwan Kumar Goyal, Ayush Jain and Lokesh Kulthia.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.36% | -4.41% |
| 3M | -3.16% | -3.6% |
| 1Y | -9% | -7.76% |
| 3Y | 4.04% | 5.74% |
| 5Y | Data not available | Data not available |
The recent path has been soft, but not in a straight line. Over one month and three months, the fund tracked the benchmark closely, which tells us the scheme is behaving like a true index strategy in the short run. The difference shows up more clearly over one year, where the fund is still negative and trails the benchmark by a noticeable margin.
Three-year returns are positive, but they remain below the benchmark. That gap suggests the fund has not fully captured the same compounding that the index delivered over the same window. For investors, that matters because an index fund is usually expected to stay close to the benchmark rather than regularly lag it.
The time pattern also suggests bouts of weakness followed by partial recovery, especially over the longer horizon. Our view is that the fund has not shown a strong standalone performance advantage; instead, it has mostly mirrored the broad market with some underperformance at the edges. The absence of 5-year return data also limits the usefulness of a longer-cycle judgment here.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD UTI BSE Sensex 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 UTI BSE Sensex Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI BSE Sensex Index Fund Direct Growth Plan | -9% | 4.04% | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.13% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.68% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 17.57% | 18.84% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the available one-year numbers, the fund trails every peer listed here, while some peers have posted much stronger gains. That short-term gap is meaningful because the fund’s benchmark-style structure should normally keep it closer to broad-market movement rather than far behind similar equity strategies.
The 3-year picture is mixed because only two peers have comparable figures, and both are materially ahead. The fund’s 3-year return is positive, but it is still clearly weaker than those available comparables. The short-term and multi-year views therefore tell the same broad story: the scheme has been subdued relative to the peer set on the return data that is available.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eq – HDFC Bank Limited | Bank | 11.84% |
| Eq – ICICI Bank Ltd | Bank | 11.39% |
| Eq – Reliance Industries Ltd. | Crude Oil | 9.53% |
| Eq – Bharti Airtel Ltd. | Telecom | 6.11% |
| Eq – Larsen & Toubro Ltd. | Infrastructure | 5.17% |
| Eq – State Bank of India | Bank | 4.83% |
| Eq – Infosys Ltd. | IT | 4.31% |
| Eq – Axis Bank Ltd. | Bank | 4.02% |
| Eq – Kotak Mahindra Bank Ltd. | Bank | 3.37% |
| Eq – Mahindra & Mahindra Ltd. | Automobile & Ancillaries | 3.26% |
The largest holding, HDFC Bank Limited, carries a weight of 11.84%, so it is likely to have greater influence on fund movement than any other single stock in the portfolio. The drop from the first holding to the tenth is modest in the sense that several names still carry meaningful weights, but the spread from 11.84% to 3.26% still shows that the portfolio is not evenly balanced across its largest positions.
The top 10 holdings together account for approximately 63.83% of the portfolio, which suggests a fairly concentrated core. With 30 disclosed holdings in total, the fund does have a longer tail beyond the largest names, but the bigger positions still dominate a large share of the scheme.
That structure may matter for investors because moves in a handful of large companies could influence the NAV more than smaller positions do. At the same time, the presence of 30 holdings means the scheme is not a one-stock or two-stock story; rather, it blends a concentrated top layer with broader index exposure underneath.
To see all holdings, visit the UTI BSE Sensex Index Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk equity exposure and can hold through periods of negative one-year performance. The short-term return record has been weak, while the 3-year figure is positive but still below the benchmark, so a patient horizon matters more here than a quick outcome.
It is most relevant for investors who want broad index exposure and are comfortable with returns that may closely follow market moves. The trade-off is simple: lower costs and benchmark-style investing come with the possibility of lagging the benchmark at times, especially when market leadership is concentrated in a few large names.
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 |
No exit load.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of UTI BSE Sensex Index Fund Direct Growth Plan?
The current NAV is ₹13.4502 as of 16 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is -9%, the 3-year return is 4.04%, and the 5-year return is not available.
How has the fund compared with its benchmark?
It has trailed the benchmark over 1 year and 3 years, though the short-term 1-month and 3-month moves have been close to the benchmark.
How does it compare with the peer funds listed here?
Its 1-year return is weaker than the peer funds shown, and its 3-year return is also below the available peer figures that can be compared directly.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
What is the risk profile, and who manages the fund?
The fund is in the High Risk category and is managed by Sharwan Kumar Goyal, Ayush Jain and Lokesh Kulthia. It also has no exit load.
Bottom line
UTI BSE Sensex Index Fund Direct Growth Plan looks steady on structure but uneven on returns. The short-term numbers are weak, while the 3-year return is positive yet still below the benchmark, so the recent story is less convincing than the longer view. Compared with the listed peers, the available return data also looks subdued. The portfolio is led by a few large holdings, which can make the scheme more sensitive to movements in a concentrated set of stocks even within an index framework.
Published on 17 September 2026 at 1:48 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.