Bandhan Nifty Midcap 150 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan Nifty Midcap 150 Index Fund Direct Growth Plan currently has a NAV of ₹10.2788 as of 17 September 2026 and a scheme AUM of ₹92 Cr. Its 1-year, 3-year and 5-year returns are 2.78%, 0% and 0%, and the scheme is tagged as High Risk. Our view is that this is a market-linked midcap index option for investors who can accept sharp swings and want a low-cost, rules-based exposure rather than a defensive income profile.
The fund’s returns have been modest, and the recent pattern has been softer than the benchmark in the same short windows. That makes it a better fit for investors who understand that midcap index investing can move unevenly and who are comfortable holding through volatility while tracking the broad midcap segment.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.2788 as of 17 Sep 2026 |
| AUM | ₹92 Cr |
| Expense Ratio | 0.16% |
| Launch Date | 19 Sep 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 15D, Nil after 15D |
| Fund Managers | Abhishek Jain, Mayuresh Nagvekar |
The fund is managed by Abhishek Jain and Mayuresh Nagvekar.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.38% | -3.66% |
| 3M | -1.32% | -3.71% |
| 1Y | 2.78% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Recent performance has been choppy. Over 1 month and 3 months, the fund stayed negative, but the declines were not as deep as the benchmark in the same windows. That suggests the scheme has tracked the broader market direction while softening some of the downside in the shorter stretches.
At the 1-year mark, the fund is positive while the benchmark is still negative. That gap is important because it shows the fund has recovered better than the benchmark over the last year, even though the absolute gain is still modest for an equity-oriented midcap strategy.
The longer path matters more for an index fund, and here the picture is still early because the scheme launched in September 2024. The movement pattern over the year shows periods of drawdown, recovery and renewed weakness rather than a smooth climb. For investors, that means the fund may behave as a cyclical equity allocation rather than a steady compounding engine in the near term.
On the supplied longer-window figures, the fund does not yet show a 3-year or 5-year track record. So the main signal available today is the recent relative recovery versus the benchmark, not a long history of compounding resilience.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Bandhan Nifty Midcap 150 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 Bandhan Nifty Midcap 150 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan Nifty Midcap 150 Index Fund Direct Growth Plan | 2.78% | 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.
In the available 1-year figures, the fund trails the stronger peer outcomes by a wide margin. That does not make the scheme irrelevant, but it does mean the recent return profile is much softer than the better-performing names in this peer set.
The longer-window comparison is less complete because several peers do not have 3-year or 5-year figures. Even so, the peers with available longer data are still well ahead on those horizons, which leaves the fund looking weak on established compounding evidence as of now.
So the short-term and longer-term comparison both lean in the same direction: the fund has not yet built a return record that matches the better available peer numbers. For investors, that makes the case dependent more on index exposure preferences and risk tolerance than on past relative return strength.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| BSE Limited | Finance | 3.13% |
| The Federal Bank Limited | Bank | 2.05% |
| Multi Commodity Exchange of India Limited | Finance | 2.02% |
| Laurus Labs Limited | Healthcare | 1.74% |
| One 97 Communications Limited | IT | 1.69% |
| Hero Motocorp Limited | Automobile & Ancillaries | 1.65% |
| Coforge Limited | IT | 1.61% |
| Indusind Bank Limited | Bank | 1.56% |
| Bharat Heavy Electricals Limited | Capital Goods | 1.51% |
| PB Fintech Limited | IT | 1.51% |
The top 10 holdings account for approximately 18.47% of the portfolio.
To see all holdings, visit the Bandhan Nifty Midcap 150 Index Fund Direct Growth Plan page
The largest holding, BSE Limited, carries a weight of 3.13%, so no single stock dominates the visible basket. The drop from the first holding to the tenth is fairly gradual, moving from 3.13% to 1.51%, which suggests the fund’s disclosed leaders are spread across several positions rather than clustered around one or two outsized bets.
That said, the top 10 holdings together account for only 18.47% of the portfolio, while the scheme discloses 83 holdings in total. This combination may point to a relatively long tail of smaller positions, which can reduce dependence on any one stock but also makes the portfolio more dependent on broad index movement than on a few concentrated winners.
For investors, that structure can be useful if they want diversified midcap exposure through an index format. It may also mean the portfolio’s return path is likely to be driven by the wider market segment rather than by a handful of large positions.
Source data date: as of 17 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk market swings and want midcap equity exposure through an index structure. The 1-year return is positive, but the shorter 1-month and 3-month periods were weak, so the path has not been smooth. That makes it more suitable for a longer horizon and for investors who can tolerate uneven movements without expecting stable near-term gains.
The main trade-off is that the fund offers low-cost, rules-based participation in the midcap segment, but recent performance has been modest and the benchmark has been weaker on the same short windows. Investors who prefer steadier outcomes or who need clearer long-term return evidence may find that trade-off hard to accept.
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% on or before 15D, Nil after 15D.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan Nifty Midcap 150 Index Fund Direct Growth Plan?
The current NAV is ₹10.2788 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 2.78%, while the 3-year and 5-year returns are not available for this scheme yet.
How has the fund performed versus its benchmark?
Over 1 month and 3 months, the fund was less weak than the benchmark, and over 1 year it was positive while the benchmark was negative. That points to a better recent relative showing, even though the absolute return remains modest.
How does it compare with the peer funds listed here?
The listed peers with available 1-year figures have much higher returns, and the peers with available longer data also stay ahead on those horizons. The recent return picture therefore looks weaker than the better-performing peer names in this comparison set.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
What are the risk level, exit load and fund managers?
The scheme is classified as High Risk. The exit load is 0.25% on or before 15D, and Nil after 15D. The fund is managed by Abhishek Jain and Mayuresh Nagvekar.
Bottom line
Bandhan Nifty Midcap 150 Index Fund Direct Growth Plan has a mixed early record: the 1-year figure is positive, but the recent 1-month and 3-month performance has been weak, and the benchmark has also struggled in those windows. Against the peer figures available here, the fund looks softer on returns. Its small top holding weights and broad 83-holding structure suggest diversified midcap exposure rather than concentration. That profile suits investors who can handle High Risk volatility and want a rules-based midcap allocation with a longer holding horizon.
Published on 18 September 2026 at 3:26 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.