SBI Nifty50 Equal Weight Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI Nifty50 Equal Weight Index Fund Direct Growth Plan has a NAV of ₹11.9246 as of 17 Sep 2026 and an AUM of ₹1,064 Cr. Its 1-year, 3-year and 5-year returns are -1.43%, 0% and 0%, respectively, and the fund sits in the High Risk category.
Our view is that this is a straightforward index fund for investors who want equal-weight exposure to the Nifty 50 and are comfortable with near-term swings. The portfolio has a broad 50-stock spread, but the recent return pattern is still weak, so it may suit investors who can wait through uneven phases rather than those looking for stable short-term outcomes.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.9246 as of 17 Sep 2026 |
| AUM | ₹1,064 Cr |
| Expense Ratio | 0.45% |
| Launch Date | 31 Jan 2024 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 15D, Nil after 15D |
| Fund Managers | Viral Chhadva |
The fund is managed by Viral Chhadva.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.38% | -3.66% |
| 3M | -2.38% | -3.71% |
| 1Y | -1.43% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is mixed but not especially strong. Over 1 month and 3 months, the fund has fallen, although it did better than the benchmark in both windows because the benchmark fell more sharply.
The 1-year figure is still negative, yet the gap versus the benchmark is wide in the fund’s favour. That tells us the equal-weight structure has cushioned part of the weakness that the Nifty 50 has shown over the same period.
What matters, however, is that the fund has only been live since January 2024, so there is no full 3-year or 5-year track record to read through. For an index strategy, this means investors are looking at a short operating history rather than a mature long-term compounding record.
In practical terms, the near-term trend is better than the benchmark, but the overall trajectory is still uneven. That makes the fund more useful as a benchmark-aligned building block than as a source of steady absolute returns.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD SBI Nifty50 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 SBI Nifty50 Equal Weight Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI Nifty50 Equal Weight Index Fund Direct Growth Plan | -1.43% | Data not available | 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 is weak beside the stronger peer returns available in this set, even though the benchmark comparison tells a different story. The current fund has protected more of the downside than the benchmark, but it still trails the better-performing peer index funds by a wide margin on a 1-year basis.
For 3-year and 5-year comparison, the picture is incomplete because this scheme does not yet have those periods available, while some peers do. That leaves the short-term versus longer-term comparison telling different stories: the fund’s recent behaviour is better than the benchmark, but the broader peer set includes funds with materially stronger established records.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eternal Ltd. | Retailing | 2.53% |
| Bajaj Auto Ltd. | Automobile & Ancillaries | 2.46% |
| HCL Technologies Ltd. | IT | 2.33% |
| Titan Company Ltd. | Diamond & Jewellery | 2.33% |
| Tata Consultancy Services Ltd. | IT | 2.25% |
| Bajaj Finserv Ltd. | Finance | 2.24% |
| Tech Mahindra Ltd. | IT | 2.20% |
| Shriram Finance Ltd. | Finance | 2.15% |
| Nestle India Ltd. | FMCG | 2.14% |
| Grasim Industries Ltd. | Diversified | 2.13% |
The top 10 holdings account for approximately 22.76% of the portfolio.
To see all holdings, visit the SBI Nifty50 Equal Weight Index Fund Direct Growth Plan page
The largest holding, Eternal Ltd., is 2.53%, so no single stock dominates the visible list. The drop from the first holding to the tenth is modest, from 2.53% to 2.13%, which supports the equal-weight structure rather than a concentrated tilt toward one or two names.
At the same time, the top 10 together account for only 22.76% of the portfolio, while the disclosed holding list contains 50 stocks. That combination suggests a longer tail beyond the visible names, so the scheme may spread influence across a wide set of positions instead of relying heavily on a handful of stocks.
For investors, that can mean less company-specific concentration than in a narrow portfolio, although the fund still tracks the Nifty 50 universe and will remain tied to broad market moves.
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors with a higher risk tolerance who can handle short-term swings and want an equity index strategy rather than an active stock-picking approach. The High Risk tag matches the uneven recent return pattern, so a longer horizon is more sensible than a short holding period.
The main trade-off is that the fund may offer a more balanced stock spread than a standard cap-weighted approach, but it still depends on market conditions and has recently delivered weak absolute returns. Investors who are comfortable with that trade-off and want a simple Nifty 50-linked allocation may find it useful as a core equity sleeve.
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: 0.25% if units are sold on or before 15 days; nil after 15 days.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of SBI Nifty50 Equal Weight Index Fund Direct Growth Plan?
The current NAV is ₹11.9246 as of 17 Sep 2026.
How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is -1.43%, while the 3-year and 5-year returns are Data not available because the scheme does not yet have those track periods.
How does the fund compare with its benchmark?
It has done better than the benchmark over 1 month, 3 months and 1 year. The benchmark has been weaker over the same periods, especially over 1 year.
How does the fund compare with the peer funds listed here?
The fund’s 1-year return is lower than the better-performing peers listed here, while its 3-year and 5-year comparisons cannot be matched because those periods are not available for this scheme.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
What is the fund’s risk category and who manages it?
The fund is in the High Risk category and is managed by Viral Chhadva. Its top holdings are spread across 50 stocks, with the top 10 accounting for 22.76% of the portfolio.
Bottom line
The fund’s short-term record is uneven, but it has held up better than the benchmark over the periods shown, which gives the recent numbers a more resilient tone than the raw return figures suggest. Against the listed peers, though, the available 1-year comparisons look softer. The portfolio is spread across 50 holdings, with no single position dominating the top list, so the structure is broad rather than concentrated. That makes it a fit for investors who can accept High Risk equity exposure and are comfortable with market-linked swings.
Published on 18 September 2026 at 12:11 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.