HDFC NIFTY 100 Equal Weight Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HDFC NIFTY 100 Equal Weight Index Fund Direct Growth Plan currently has an NAV of ₹16.9934 as of 16 Sep 2026 and an AUM of ₹534 Cr. Its 1-year, 3-year and 5-year returns are 0.63%, 12.53% and 0%, and the scheme is in the High Risk category.
Our view is that this fund suits investors who want diversified exposure through an equal-weight approach but can tolerate sharp short-term swings. The recent 1-year outcome has been muted, while the 3-year number is more workable; that mix makes it better suited to patient investors than to anyone looking for steady near-term stability.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹16.9934 as of 16 Sep 2026 |
| AUM | ₹534 Cr |
| Expense Ratio | 0.4% |
| Launch Date | 23 Feb 2022 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Arun Agarwal, Nandita Menezes |
The fund is managed by Arun Agarwal and Nandita Menezes.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -5.26% | -4.41% |
| 3M | -2.57% | -3.60% |
| 1Y | 0.63% | -7.76% |
| 3Y | 12.53% | 5.74% |
| 5Y | Data not available | Data not available |
The recent pattern has been uneven. Over 1 month, the fund fell more than the benchmark, which points to short-term volatility still being very visible in this strategy. Over 3 months, it held up slightly better than the benchmark, so the near-term picture is not one-way weak.
The 1-year return is the clearest point of separation. The fund stayed positive at 0.63% while the benchmark was negative at -7.76%, which tells us the equal-weight structure has cushioned the broader market weakness over that horizon. That said, the 1-year result is still modest rather than strong.
The longer view is firmer. The 3-year return of 12.53% is comfortably ahead of the benchmark’s 5.74%, which shows the strategy has delivered better compounding through a full market cycle than the benchmark used here. Even so, the sharp 1-month and 3-month declines remind us that the path has not been smooth.
Because the fund has no 5-year return yet, we would treat the 3-year record as the more useful anchor. In our view, the recent behaviour is more choppy than the longer trend, so the fund looks better as a medium-to-long-term equity allocation than as a short-horizon parking place.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD HDFC NIFTY 100 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 HDFC NIFTY 100 Equal Weight Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HDFC NIFTY 100 Equal Weight Index Fund Direct Growth Plan | 0.63% | 12.53% | 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.
The fund’s 1-year return trails the stronger peer numbers in this table by a wide margin, even though it remains positive. Its 3-year return is also below the best available peer figures, but it is still ahead of the peer fund with a 3-year figure of 18.84% only in the sense that the current fund’s own 3-year data is not missing; on the numbers shown, the stronger 3-year peer outcomes belong elsewhere.
The main takeaway is that the short-term picture is weaker than the headline peer outcomes, while the longer-term picture is still mixed because several peers do not have 3-year or 5-year figures available. That means the current fund’s case rests more on its own benchmark-relative recovery and its equal-weight structure than on standing out on the available peer return snapshot.
Source data date: as of 16 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Divis Laboratories Ltd. | Healthcare | 1.37% |
| Eternal Limited | Retailing | 1.26% |
| Lodha Developers Limited | Realty | 1.25% |
| TVS Motor Company Ltd. | Automobile & Ancillaries | 1.24% |
| Bajaj Auto Limited | Automobile & Ancillaries | 1.22% |
| Bosch Limited | Automobile & Ancillaries | 1.22% |
| LTM Limited | IT | 1.17% |
| HCL Technologies Ltd. | IT | 1.16% |
| Samvardhana Motherson International Ltd. | Automobile & Ancillaries | 1.16% |
| Titan Company Ltd. | Diamond & Jewellery | 1.16% |
The largest holding, Divis Laboratories Ltd., has a weight of 1.37%, which is modest in absolute terms for a single stock position. The gap from the first holding to the tenth is small, falling only to 1.16%, so the top layer is tightly grouped rather than dominated by one or two outsized names.
That pattern fits an equal-weight index style. No single position appears likely to drive the portfolio on its own, and the top 10 together account for approximately 12.21% of the portfolio, which leaves a long tail across the remaining holdings. With 100 disclosed holdings in all, the structure may spread influence more evenly than a concentrated large-cap portfolio.
For investors, that can mean broader participation across names, but it can also mean performance may not be pulled up quickly by just a few leaders. In our view, the combination of a shallow top-holding spread and a large holding count suggests diversification is the central portfolio feature rather than concentration in a handful of stocks.
To see all holdings, visit the HDFC NIFTY 100 Equal Weight Index Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk equity exposure and can stay invested for a medium-to-long horizon. The 1-year result is weak relative to the 3-year trend, so short-term patience matters here. The 3-year return shows better compounding than the benchmark, but the recent 1-month and 3-month swings confirm that the path can be choppy.
The main trade-off is between diversification through equal weighting and the willingness to absorb volatility when the market moves sharply. Investors who want a portfolio that spreads exposure across many holdings may find that appealing, but they need to accept that the fund may not always keep pace in the very short term.
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 HDFC NIFTY 100 Equal Weight Index Fund Direct Growth Plan?
The current NAV is ₹16.9934 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 0.63%, the 3-year return is 12.53%, and the 5-year return is Data not available.
How does the fund compare with its benchmark?
The fund has done better than the benchmark over 1 year and 3 years. It returned 0.63% versus the benchmark’s -7.76% over 1 year, and 12.53% versus 5.74% over 3 years.
How does it compare with the peer funds listed here?
Its 1-year return is far below the stronger peer figures shown, while its 3-year return is also below the available stronger peer outcomes. Some peers do not have 3-year or 5-year figures available.
Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Arun Agarwal and Nandita Menezes. There is no exit load.
Bottom line
The fund’s recent return pattern is uneven, but the 3-year record is clearly better than the benchmark used here. Compared with the peer return figures available, the short-term result is modest, and the longer-term picture is not the strongest on the page. Its High Risk tag and equal-weight structure mean it is built for investors who can handle volatility and want broader stock-level spread across 100 holdings rather than concentration in a few names.
Published on 17 September 2026 at 2:19 PM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
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.