DSP Nifty Midcap 150 Quality 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
DSP Nifty Midcap 150 Quality 50 Index Fund Direct Growth Plan is priced at ₹14.245 as of 16 Sep 2026, with scheme AUM of ₹433 Cr. Its 1-year, 3-year and 5-year returns are -5.99%, 7.2% and 0% respectively, and the scheme is in the High Risk category.
Our view is that this is a midcap index fund for investors who can tolerate swings and stay invested long enough for the index-linked compounding pattern to work through shorter drawdowns. The recent run has been weak, but the 3-year figure is positive, so the fund looks more suited to patient, risk-aware investors than to those who want steady near-term outcomes.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹14.245 as of 16 Sep 2026 |
| AUM | ₹433 Cr |
| Expense Ratio | 0.3% |
| Launch Date | 04 Aug 2022 |
| 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 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -6.4% | -4.41% |
| 3M | -4.32% | -3.6% |
| 1Y | -5.99% | -7.76% |
| 3Y | 7.2% | 5.74% |
| 5Y | Data not available | Data not available |
The short-term pattern has been soft. The fund was negative over 1 month, 3 months and 1 year, so the recent trend does not look smooth even though the 1-year figure is still better than the benchmark’s 1-year return.
Over 3 years, the picture improves. The fund’s 7.2% return is ahead of the benchmark’s 5.74%, which tells us the strategy has been able to recover more convincingly over a full market cycle than it did in the recent stretch.
The 5-year window is not available in a practical sense for this scheme because the fund was launched in August 2022. That makes the 3-year trend the more meaningful longer-horizon reference point, and it remains the clearest sign of how the fund has behaved through both recovery and renewed pressure.
For investors, the main message is that this is not a stable short-term smoother. The recent decline and the positive 3-year outcome together suggest a midcap-style path that can be uneven in the short run while still building value over a longer holding period.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD DSP Nifty Midcap 150 Quality 50 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 Midcap 150 Quality 50 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| DSP Nifty Midcap 150 Quality 50 Index Fund Direct Growth Plan | -5.99% | 7.2% | 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 set, while its 3-year return is positive and ahead of the benchmark in the performance table. That creates a mixed picture: the recent stretch has been weaker than several peer funds, but the longer stretch is not the weakest story in the group.
Where peers with longer history are available, the fund’s 3-year return is far below some of the more aggressive index strategies, yet it still stands above its own benchmark on the same horizon. The short-term and longer-term comparisons therefore point in different directions, which is typical when a midcap strategy is under pressure but still retaining its longer-cycle structure.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Dixon Technologies (India) Limited | Consumer Durables | 4.76% |
| Colgate Palmolive (India) Limited | FMCG | 4.26% |
| BSE Limited | Finance | 4.14% |
| Hero Motocorp Limited | Automobile & Ancillaries | 3.74% |
| Marico Limited | FMCG | 3.47% |
| Persistent Systems Limited | IT | 3.37% |
| Polycab India Limited | Electricals | 2.83% |
| Oracle Financial Services Software Limited | IT | 2.71% |
| Page Industries Limited | Textile | 2.63% |
| Glaxosmithkline Pharmaceuticals Limited | Healthcare | 2.59% |
The largest holding is Dixon Technologies (India) Limited at 4.76%, which is meaningful but not dominant. The top 10 holdings together account for approximately 34.5% of the portfolio, so the fund may still have a broad tail beyond the visible names.
The gap from the first holding to the tenth is not extreme, but the weights do step down from 4.76% to 2.59%. That suggests the visible positions are spread across several companies rather than built around one or two oversized bets.
Because the fund discloses 50 holdings in total, the visible 10 names are only part of the story. Our read is that the portfolio may be moderately concentrated in its largest positions, yet still diversified enough across a longer list to avoid excessive dependence on a single stock.
To see all holdings, visit the DSP Nifty Midcap 150 Quality 50 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 and can tolerate uneven short-term outcomes. The recent 1-year weakness shows that the path can be choppy, while the 3-year return is positive and better than the benchmark, which makes a longer horizon more important than short-term patience.
We think it is more suitable for investors who can hold through drawdowns and accept that a midcap index strategy may lag in some stretches before recovering later. The main trade-off is clear: you gain exposure to a more dynamic equity segment, but you must be willing to absorb performance swings that may feel uncomfortable over shorter periods.
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 16 Sep 2026
Frequently asked questions
What is the current NAV of DSP Nifty Midcap 150 Quality 50 Index Fund Direct Growth Plan?
The current NAV is ₹14.245 as of 16 Sep 2026.
How has the fund performed over 1 year, 3 years and 5 years?
Its returns are -5.99% over 1 year, 7.2% over 3 years and 0% over 5 years. The 5-year figure should be read in the context of the fund’s August 2022 launch.
How does the fund compare with its benchmark?
It has done better than the benchmark over 1 year and 3 years in the performance table. The 1-year return is -5.99% versus -7.76%, and the 3-year return is 7.2% versus 5.74%.
How does it compare with the peer funds shown here?
Its recent 1-year return is weaker than several peer funds shown here, while its 3-year return is positive and still ahead of the benchmark. The peer set therefore gives a mixed picture rather than a single clear story.
What is the risk category and who manages the fund?
The fund is in the High Risk category. It is managed by Anil Ghelani, Diipesh Shah and Neha Rathi.
What are the tax and exit-load rules?
Units held for less than 1 year attract 20% short-term capital gains tax, while units held for more than 1 year attract 12.5% long-term capital gains tax. There is no exit load.
Bottom line
This fund’s recent performance is weaker than its longer-term 3-year result, so the short-term and medium-term pictures do not match. It also looks mixed against peers: the 1-year return trails several peer funds, while the 3-year figure remains positive and ahead of the benchmark. The portfolio is led by a 4.76% top holding and the top 10 together account for 34.5%, so the fund does not rely on a single dominant position. That profile suits investors who accept High Risk and prefer a longer holding period.
Published on 17 September 2026 at 3:35 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.