Aditya Birla SL BSE 500 Momentum 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL BSE 500 Momentum 50 Index Fund Direct Growth Plan currently has a NAV of ₹11.2648 as of 28 Aug 2026 and an AUM of ₹75 Cr. Its 1-year, 3-year and 5-year returns are 11.9016%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this is a young, momentum-oriented index strategy that has shown some near-term progress, but its longer-term track record is still too short to judge in the usual multi-year sense.

The fund may suit investors who can live with a sharper risk profile and want a rule-based equity allocation rather than an actively managed style. The portfolio leans toward mid-caps, with meaningful exposure to finance, automobiles and banks, so return swings can be more noticeable than in a plain large-cap index approach.

Quick facts

The fund is managed by Mehul Dama and Priya Sridhar.

Source data date: as of 28 Aug 2026

Performance

Recent performance has been firm. The fund’s 1-month and 3-month returns stayed ahead of the benchmark, and the 1-year return also came in positive while the benchmark remained negative over the same period. That tells us the strategy has held up well in the most recent cycle, especially when the broader benchmark was uneven.

The pattern is more mixed if we look at the path of returns rather than just the final figure. The fund did not move in a straight line, and there were stretches of weakness before the recovery improved the medium-term profile. That matters for investors because momentum styles often behave differently from plain index exposure: they can lag during some market phases, then recover quickly when the selected names regain traction.

We do not have comparable 3-year or 5-year return figures for this scheme yet, so the main read is on the shorter history available. Even within that shorter window, the fund has remained ahead of the benchmark across 1 month, 3 months and 1 year, which suggests the current phase has been stronger than the benchmark’s recent trend.

At the same time, the fund’s history is still limited by its recent launch, so the longer-term picture is not yet established. For now, the most useful conclusion is that the current return profile looks better than the benchmark’s recent behaviour, but it still needs time before it can be judged on a full multi-year record.

Source data date: as of 28 Aug 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the 1-year measure, the fund trails several of the comparison schemes, including the gold ETF FoF, small-cap, innovation and alpha-style funds. That does not make the scheme weak in isolation, but it does show that its recent pace has been more moderate than the sharper short-term outcomes seen in some peers.

Because 3-year and 5-year figures are not available for the comparison group or this fund, the peer read is mainly about the short term. That makes the comparison less about long-run consistency and more about recent momentum. On that basis, the fund’s return profile has been steadier than the strongest peer numbers, but less striking than the more aggressive recent performers.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution: Large-cap 30.9%, mid-cap 48.38%, small-cap 20.59% and other 0.12%.

The portfolio is tilted more toward mid-caps than large-caps, and that balance may matter for volatility. Mid-caps account for 48.38% of the mix, while large-caps stand at 30.9% and small-caps add another 20.59%. In our view, this is a more growth-sensitive blend than a large-cap-heavy portfolio, even though it still keeps a meaningful large-cap core.

Finance is the biggest sector at 23.93%, and it is clearly larger than the next sector, automobile and ancillaries at 16.62%. Bank exposure at 13.19% and healthcare at 11.04% also add weight, so the portfolio is not dependent on just one theme. Still, the finance bucket may have the greatest influence on the scheme’s behaviour because it is the largest single sector and also contains a notable individual holding in Multi Commodity Exchange of India Limited.

The sector mix suggests a fairly active equity-style profile even though the fund follows an index approach. Since finance, automobiles and banks together make up a substantial share, the fund may respond strongly when these pockets of the market lead or lag. That means the scheme can participate well in favourable phases, but it may also move more sharply than a broader, more evenly spread large-cap index.

Source data date: as of 28 Aug 2026

Who should invest

This fund is better suited to investors who are comfortable with High Risk equity exposure and who can stay invested through uneven short-term moves. The 1-year return has been positive, but the scheme is too young to show a full multi-year record, so patience matters more than quick outcome-seeking.

It can fit an investment horizon where the investor is willing to wait for the momentum framework to play out across market cycles. The main trade-off is that the portfolio may deliver stronger upside when its style is working, but it can also be more volatile because of its mid-cap tilt and concentrated sector weights.

Tax and exit load

Exit load: 0.10% on or before 15D, Nil after 15D.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL BSE 500 Momentum 50 Index Fund Direct Growth Plan?
Its NAV is ₹11.2648 as of 28 Aug 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 11.9016%, while the 3-year and 5-year returns are not available in the current record.

How has the fund performed against its benchmark?
It has outpaced the benchmark across the available short-term periods. The 1-year return is positive, while the benchmark’s 1-year return is negative.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

How risky is this fund?
It is classified as High Risk. The portfolio also leans toward mid-caps, which can make its movements less steady than a plain large-cap exposure.

Who manages the fund?
The fund is managed by Mehul Dama and Priya Sridhar.

Bottom line

This scheme has a better recent return profile than its benchmark, especially over 1 month, 3 months and 1 year, but it is still a young fund without a long multi-year record. On the available peer comparison, its 1-year return is more modest than several comparison funds, which tells us the recent strength is real but not especially aggressive. The High Risk label, combined with a mid-cap-heavy mix and finance-led sector exposure, makes it more suitable for investors who can tolerate swings and are comfortable with a style-driven equity allocation.

Published on 31 August 2026 at 3:00 PM IST