Bandhan Nifty Smallcap 250 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan Nifty Smallcap 250 Index Fund Direct Growth Plan is an index fund with a High Risk profile. As of 17 Sep 2026, its NAV is ₹13.075 and its scheme AUM is ₹99 Cr. Its 1-year, 3-year and 5-year returns are 2.91%, 0% and 0%, respectively. Our view is that this is a fund for investors who can tolerate sharp swings and want small-cap index exposure rather than steady, benchmark-like stability.
The fund’s recent return pattern is mixed: the 1-year figure is positive, but the longer return history is still too short to show a settled multi-year compounding record. The portfolio is spread across 62 holdings, with the top 10 accounting for 13.29%, so the basket looks diversified at the individual-stock level even though small-cap exposure can still behave unevenly.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.075 as of 17 Sep 2026 |
| AUM | ₹99 Cr |
| Expense Ratio | 0.2% |
| Launch Date | 22 Dec 2023 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| 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 | -1.85% | -3.66% |
| 3M | 2.43% | -3.71% |
| 1Y | 2.91% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The 1-month and 3-month moves show that the fund has recently recovered better than the benchmark, which stayed weaker over the same windows. That relative outperformance matters because it suggests the fund has held up more steadily in the latest stretch even though the broader small-cap backdrop has not been smooth.
Over 1 year, the fund’s 2.91% return is well ahead of the benchmark’s -7.13%. That gap is meaningful, but it should not be read as a strong long-run growth track record yet. The scheme is still relatively young, so the 3-year and 5-year figures are not available in a way that supports a mature long-horizon comparison.
The short-term pattern also differs from the longer running path in a practical sense: the 1-year line shows a recovery from earlier weakness, while the benchmark remains more subdued. For investors, that means the fund has recently been the better of the two on a return basis, but its record is still early and tied to a volatile segment of the market.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Bandhan Nifty Smallcap 250 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 Smallcap 250 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan Nifty Smallcap 250 Index Fund Direct Growth Plan | 2.91% | 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 far below the stronger peer figures in this set, but the comparison is not one-sided because several peers also have much longer and stronger available histories. Where 3-year data is available, the current fund does not have a comparable multi-year record to measure against those schemes, so the short-term gap is easier to read than the long-term picture.
The key takeaway is that the recent return has lagged the better-known peer numbers, while the fund’s own long-term return history is still not established in a way that supports a direct three-year or five-year comparison. That makes the current peer view more about the breadth of available track records than about a simple performance gap.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Sona BLW Precision Forgings Limited | Automobile & Ancillaries | 1.65% |
| Ather Energy Limited | Domestic Equities | 1.5% |
| Karur Vysya Bank Limited | Bank | 1.49% |
| Navin Fluorine International Limited | Chemicals | 1.45% |
| Welspun Corp Limited | Iron & Steel | 1.42% |
| Piramal Finance Limited | Finance | 1.26% |
| Delhivery Limited | Logistics | 1.16% |
| HFCL Limited | Telecom | 1.16% |
| Central Depository Services (India) Limited | Business Services | 1.13% |
| RBL Bank Limited | Bank | 1.07% |
The top 10 holdings account for approximately 13.29% of the portfolio.
To see all holdings, visit the Bandhan Nifty Smallcap 250 Index Fund Direct Growth Plan page
The largest holding, Sona BLW Precision Forgings Limited, is 1.65%, which is modest in absolute terms for a single line item. The weight then eases down gradually to 1.07% at the tenth holding, so the top positions are fairly close to one another rather than dominated by one very large bet.
That pattern suggests the visible portfolio is not overly dependent on a single stock. At the same time, the combined top-10 weight of 13.29% across 62 holdings shows that the fund may still have meaningful influence from a longer tail of smaller positions, especially because small-cap portfolios can move unevenly even when the individual weights look restrained.
For our view, this is a spread-out structure at the holding level, but not one that removes market risk. The portfolio breadth may help reduce single-stock dependence, while the small-cap universe itself can still be volatile.
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors who can accept High Risk and who are comfortable with a small-cap allocation that may move sharply over time. The recent 1-year return is positive, but the absence of established 3-year and 5-year figures means the fund does not yet have a long, settled performance record.
It may fit investors with a longer horizon who want index-style exposure to the small-cap segment and can tolerate the possibility of uneven short-term outcomes. The main trade-off is between diversification across many small-cap names and the higher volatility that usually comes with this part of the market.
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 Bandhan Nifty Smallcap 250 Index Fund Direct Growth Plan?
The current NAV is ₹13.075 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 2.91%, while the 3-year and 5-year returns are Data not available.
How has the fund performed against its benchmark?
It has done better than the benchmark over 1 month, 3 months and 1 year. The 1-year figure is 2.91% for the fund versus -7.13% for the benchmark.
How does it compare with peer funds on recent return data?
Its 1-year return is below several peer figures in the comparison set. Some peers also have longer available histories, which makes the comparison more informative on short-term numbers than on long-run compounding.
What is the minimum SIP amount?
The minimum SIP amount is not stated here.
Who manages the fund and what is the exit load?
The fund is managed by Abhishek Jain and Mayuresh Nagvekar. It has no exit load.
Bottom line
This fund’s recent return picture is better than its benchmark, but it still does not have a long multi-year record to anchor a stronger long-term view. Compared with the peer set, its 1-year return is modest, while the portfolio itself is spread across many holdings with a small top-weight concentration. The High Risk label and small-cap exposure make it more suitable for investors who can handle volatility and want index-based participation rather than a smoother return path.
Published on 18 September 2026 at 11:42 AM 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.