Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan is at a NAV of ₹10.178 as of 16 September 2026, with scheme AUM of ₹34 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk bucket. Our view is that this is a high-volatility, narrow-exposure product where the current evidence is too limited to judge long-run behaviour, so it is better suited only to investors who are comfortable with sharp swings and can stay invested through uncertain phases.
The fund has an expense ratio of 0.0% and is still very new, having launched on 23 Jul 2026. The near-term return profile is weaker than the benchmark over the latest month, while the portfolio structure is extremely concentrated, so the main question is not diversification but whether an investor wants this specific momentum-linked exposure at all.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.178 as of 16 Sep 2026 |
| AUM | ₹34 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 23 Jul 2026 |
| Min SIP | ₹99 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 0.05% on or before 15D, NIL after 15D |
| Fund Managers | Ekta Gala, Vishal Singh |
The fund is managed by Ekta Gala and Vishal Singh.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.79% | -4.41% |
| 3M | Data not available | Data not available |
| 1Y | 0% | Data not available |
| 3Y | 0% | Data not available |
| 5Y | 0% | Data not available |
Recent performance has been soft, but it is still early to judge the fund on a full track record. The latest month shows a decline for both the fund and the benchmark, and the fund fell slightly less than the benchmark over that window. That tells us the product was not insulated from the market slide, even if it held up a bit better on that short stretch.
The longer view is not yet informative because the scheme has only just launched. The 1-year, 3-year and 5-year figures are not meaningful measures of an established compounding pattern here, and the published returns remain at 0% because there is no longer history to anchor them. For that reason, we place more weight on the fund’s structure and early movement than on any apparent long-term signal.
The day-to-day series also points to an uneven start rather than a smooth climb. That matters for an ETF FOF because the investor is taking the underlying momentum exposure indirectly, so the path of returns can matter as much as the endpoint. In our view, the gap between short-term weakness and the absence of a mature track record makes this a fund to watch carefully rather than to judge by conventional trailing-period labels.
Compared with the benchmark, the fund has not shown a decisive advantage over the available period, but it has been slightly less weak in the latest month. That is useful context, yet it does not substitute for a deeper history, which the scheme does not yet have.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF?
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 Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan | Data not available | Data not available | Data not available |
| Axis Gold and Silver Passive FoF Direct Growth Plan | Data not available | Data not available | Data not available |
| HSBC Gold ETF FOF Direct Growth Plan | Data not available | Data not available | Data not available |
| Bandhan Silver ETF FOF Direct Growth Plan | Data not available | Data not available | Data not available |
| The Wealth Company Gold ETF FOF Direct Growth Plan | Data not available | Data not available | Data not available |
| Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan | Data not available | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On available return data, the current fund does not yet show a usable multi-year edge because its own trailing figures are not established. The short-term month-wise performance is slightly better than the benchmark, but that is a narrow comparison and does not tell us much about longer-run behaviour. Since the peer set also lacks usable return histories in the displayed periods, the comparison mainly reinforces how early the fund is in its life cycle.
That means the key distinction is not between strong and weak peer rankings, but between an immature track record and the kind of patience such a strategy requires. For investors who want a clean read on compounding, there simply is not enough history yet. For those who are prepared to accept early-stage uncertainty, the fund’s structure may still be of interest, but only with the understanding that the available evidence is limited.
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 |
|---|---|---|
| Mirae Asset BSE Midcap 150 Momentum 30 ETF – Regular Plan – Growth | Domestic Mutual Funds Units | 104.18% |
The portfolio is highly concentrated because the only disclosed holding is the underlying ETF itself, and it carries a weight of 104.18%. That means this fund behaves very much like a fund-of-funds wrapper around a single exposure, so the return experience may be shaped primarily by that one underlying instrument.
Because there is only one disclosed holding row, there is no long tail of positions for diversification across multiple securities. The disclosed holding list therefore does not show a gradual fall-off from a largest position to smaller positions; instead, it shows a single dominant exposure. In practical terms, that may leave the fund more dependent on the performance and path of the underlying ETF than on a broad basket of distinct holdings.
The disclosed holdings count is one, and the displayed weight already exceeds 100% on the table provided. We would read that as a signal of very tight portfolio construction rather than breadth, so investors should expect a concentrated exposure profile rather than a widely spread one.
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors with a high tolerance for volatility and a willingness to wait through periods when the return path is uneven. The available history is too short to support any confidence in a smooth long-term pattern, and the latest month has been weak even though it was slightly less weak than the benchmark.
The main trade-off is concentration. The structure points to a single underlying exposure rather than a diversified set of holdings, so the outcome may depend heavily on one underlying ETF’s behaviour. That can make sense for investors who want this specific midcap momentum exposure, but it is not a fit for those who need stable, broad-based diversification or a clear multi-year track record.
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: 0.05% on or before 15D, NIL after 15D.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan?
The current NAV is ₹10.178 as of 16 September 2026.
What are the fund’s recent returns?
Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%.
How did it perform versus the benchmark recently?
Over 1 month, the fund returned -3.79% versus -4.41% for the benchmark. That means the fund was slightly less weak in the latest month.
What is the minimum SIP amount?
The minimum SIP is ₹99.
Who manages the fund?
The fund is managed by Ekta Gala and Vishal Singh.
What is the exit load and risk category?
The fund is in the High Risk category. The exit load is 0.05% on or before 15D, and NIL after 15D.
Bottom line
This is a very early-stage fund, so the short-term return pattern matters more than any longer-term reading at this point. It has held up slightly better than the benchmark in the latest month, but the broader picture is still too immature to call a stable trend. The portfolio is extremely concentrated around a single underlying exposure, which can magnify the importance of that one instrument’s behaviour. It may suit investors who want this specific momentum-linked structure and can tolerate high uncertainty.
Published on 17 September 2026 at 5:45 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.