HDFC NIFTY Realty Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HDFC NIFTY Realty Index Fund Direct Growth Plan has a NAV of ₹9.3758 as of 17 September 2026 and an AUM of ₹144 Cr. Its 1-year, 3-year and 5-year returns are -10.15%, 0% and 0%, and the fund sits in the High Risk category. Our view is that this is a focused real-estate index fund for investors who are comfortable with sharp sector swings and can accept that short-term outcomes may differ materially from the benchmark.
The fund’s recent return profile is weak, but its portfolio is tightly built around a small set of realty names. That structure can work when the sector improves, yet it also means returns may stay choppy when property stocks are under pressure. The fund is not suited to short holding periods, and it needs an investor who can tolerate sector concentration.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹9.3758 as of 17 Sep 2026 |
| AUM | ₹144 Cr |
| Expense Ratio | 0.4% |
| Launch Date | 26 Mar 2024 |
| 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 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -6.94% | -3.66% |
| 3M | 1.96% | -3.71% |
| 1Y | -10.15% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is uneven. Over 1 month, the fund fell more than the benchmark, which points to continued pressure in the sector. Over 3 months, however, it recovered while the benchmark stayed negative, showing that the fund can move sharply when realty sentiment improves.
The 1-year picture is still negative, and the fund trailed the benchmark over that stretch. That tells us the recent bounce has not yet been enough to offset the earlier weakness. For an investor, this means short windows can give a very different impression from the broader yearly trend.
Because the fund launched only in March 2024, there is no 3-year or 5-year history to evaluate. That makes the 1-year and recent monthly behaviour especially important, and both point to a volatile path rather than a stable compounding pattern.
The time pattern also suggests that the fund is highly sensitive to the direction of the realty segment. When the sector improves, the fund can rebound quickly; when sentiment weakens, it can fall just as fast. That is consistent with a narrow thematic index rather than a diversified equity allocation.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD HDFC NIFTY Realty 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 Realty Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HDFC NIFTY Realty Index Fund Direct Growth Plan | -10.15% | 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 current fund’s 1-year return is well below the peer group figures listed here, while the better-performing peers are posting positive double-digit gains. That contrast matters because it shows the fund has recently lagged other thematic index funds on available return data.
On longer periods, the picture is mixed but still weaker for this fund because no 3-year or 5-year record is available yet. Where peers do have longer numbers, the ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan and ICICI Pru Nifty Pharma Index Fund Direct Growth Plan show meaningful 3-year outcomes, which this fund cannot yet match on history length. The short-term gap and the absence of longer history tell different stories, but both keep the comparison cautious.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| DLF Limited | Realty | 19.76% |
| The Phoenix Mills Limited | Realty | 15.81% |
| Lodha Developers Limited | Realty | 14.82% |
| Prestige Estates Projects Ltd. | Realty | 12.28% |
| Godrej Properties Ltd. | Realty | 12.14% |
| Oberoi Realty Ltd. | Realty | 9.8% |
| Brigade Enterprises Limited. | Realty | 5.42% |
| Anant Raj Limited | Realty | 4.11% |
| Aditya Birla Real Estate Limited | Realty | 3.16% |
| Sobha Ltd. | Realty | 2.49% |
The largest holding, DLF Limited, accounts for 19.76%, so it is likely to have the most noticeable influence on fund movement. The next few names also carry double-digit weights, which means the portfolio does not rely on just one company, but it still leans heavily on the top end.
The weight drops from 19.76% at the top to 2.49% at the tenth holding, which shows a clear tapering pattern. Even so, the top six holdings all stay at or above 9.8%, so the fund may remain sensitive to a relatively small group of realty stocks.
Since the disclosed holdings already cover all 10 positions and together account for 99.79% of the portfolio, the structure looks highly concentrated. That concentration can support a sharper sector view, but it also means the fund may move in step with a narrow slice of the market rather than a broad equity mix.
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors with a high tolerance for volatility and a long enough horizon to ride through sector cycles. The 1-year loss, the shorter-term recovery and the lack of a longer track record all point to a product that can swing sharply with realty sentiment.
It is most relevant for investors who want focused exposure to real-estate stocks and understand that the benchmark comparison has recently been weak. The main trade-off is that the fund can offer strong upside when the sector improves, but it may also underperform for extended stretches and stay far more uneven than a diversified equity fund.
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 17 Sep 2026
Frequently asked questions
What is the current NAV of HDFC NIFTY Realty Index Fund Direct Growth Plan?
The current NAV is ₹9.3758 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is -10.15%, while the 3-year and 5-year returns are Data not available because the scheme does not have those full periods yet.
How does the fund compare with its benchmark?
It has trailed the benchmark over 1 year, with -10.15% versus -7.13%. Over 3 months, the fund turned positive at 1.96% while the benchmark stayed negative at -3.71%.
How does it compare with the listed peer funds on recent returns?
Its 1-year return is below the other listed peer returns, many of which are in positive double digits. The absence of 3-year and 5-year history also limits a longer comparison.
What is the minimum SIP amount?
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
HDFC NIFTY Realty Index Fund Direct Growth Plan has shown weak 1-year performance, but its 3-month rebound suggests that returns can shift quickly with realty sentiment. Compared with the listed peer funds, its recent return is softer, and it does not yet have the longer history that some peers can show. The fund is High Risk and heavily concentrated in a small group of realty names, so it is better suited to investors who can handle sharp swings and want specific sector exposure rather than broad market stability.
Published on 18 September 2026 at 1:10 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.