Baroda BNP Paribas Nifty200 Momentum 30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Baroda BNP Paribas Nifty200 Momentum 30 Index Fund Direct Growth Plan had a NAV of ₹8.1149 as of 11 September 2026 and a scheme AUM of ₹22 Cr. Its 1-year, 3-year and 5-year returns are 0.16%, 0%, and 0% respectively, and the fund sits in the High Risk category. Our view is that this is a momentum-led equity index strategy that needs patience: the short history, modest recent return and high-risk profile make it more suitable for investors who can tolerate sharp swings and want benchmark-linked equity exposure rather than a smooth return path.
The fund’s current price action is still close to flat over the latest periods, so the case here rests more on the strategy and portfolio shape than on a long performance record. Because the scheme launched only on 15 October 2024, the return history is limited, but the portfolio is built around a focused basket of 30 stocks, which can make outcomes more sensitive to changes in the underlying names.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹8.1149 as of 11 Sep 2026 |
| AUM | ₹22 Cr |
| Expense Ratio | 0.47% |
| Launch Date | 15 Oct 2024 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.20% on or before 7D, Nil after 7D |
| Fund Managers | Neeraj Saxena, Meenakshi Gururaj |
The fund is managed by Neeraj Saxena and Meenakshi Gururaj.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.54% | -3.66% |
| 3M | -1.20% | -1.91% |
| 1Y | 0.16% | -7.62% |
| 3Y | 0% | Data not available |
| 5Y | 0% | Data not available |
Recent performance has been weak in absolute terms, but it has held up better than the benchmark over the shorter windows. The fund was down over 1 month and 3 months, yet the benchmark fell more sharply in both periods, which suggests the strategy has been comparatively resilient even though it has not produced a positive short-term return.
The 1-year number is more telling: the fund is marginally positive while the benchmark is clearly negative. That gap matters because it shows the strategy has not simply tracked a broad-market weakness in a one-for-one way. Still, the return is only 0.16%, so the outperformance is more about capital preservation than meaningful growth.
Our view on the path of returns is that the fund has shown uneven movement rather than a steady compounding pattern. The 1-year progression includes periods of drawdown, partial recovery and renewed softness, which is consistent with a concentrated momentum process. For investors, that means the fund may behave very differently from a plain index approach over shorter stretches.
Because the scheme has only a limited track record since launch, the longer-window figures should be read cautiously. Even so, the current pattern suggests the strategy has been better than the benchmark in the recent periods tracked here, while still lacking a strong, established record of compounding.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD Baroda BNP Paribas Nifty200 Momentum 30 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 Baroda BNP Paribas Nifty200 Momentum 30 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Baroda BNP Paribas Nifty200 Momentum 30 Index Fund Direct Growth Plan | 0.16% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 32.61% | 29.92% | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 26.23% | Data not available | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 26.22% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 26.18% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 25.91% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The recent 1-year figure is far below the stronger peer returns shown here, so the fund has not matched the same level of momentum that several niche index strategies delivered over the period. At the same time, the available 3-year and 5-year peer figures tell only a partial story because most entries do not have those longer numbers, so the comparison is strongest on the 1-year lens.
What stands out is that the fund’s shorter-term edge over the benchmark does not translate into peer-leading absolute performance. That makes this a more selective comparison: the fund appears defensible versus its benchmark over the recent window, but it has not yet built the kind of return record that some other thematic index funds have shown on the available data.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Multi Commodity Exchange of India Limited | Finance | 5.99% |
| Laurus Labs Limited | Healthcare | 5.87% |
| Shriram Finance Limited | Finance | 5.41% |
| Hindalco Industries Limited | Non – Ferrous Metals | 5.24% |
| Tata Steel Limited | Iron & Steel | 4.77% |
| NTPC Limited | Power | 4.57% |
| Cummins India Limited | Automobile & Ancillaries | 4.53% |
| Vedanta Limited | Non – Ferrous Metals | 4.39% |
| Ge Vernova T&D India Limited | Capital Goods | 4.23% |
| BSE Limited | Finance | 4.15% |
The top 10 holdings account for approximately 49.15% of the portfolio.
To see all holdings, visit the Baroda BNP Paribas Nifty200 Momentum 30 Index Fund Direct Growth Plan page
The largest holding, Multi Commodity Exchange of India Limited, stands at 5.99%, so no single position dominates the fund on its own. The gap from the first holding to the tenth is not extreme, moving from 5.99% to 4.15%, which suggests the portfolio is spread across a fairly tight band at the top rather than relying on one or two outsized bets.
That said, the displayed top 10 still make up 49.15% of the portfolio, and there are 30 disclosed holdings overall. In our view, that points to a portfolio that is fairly concentrated in its leading names, even if the weights do not show a dramatic drop from one holding to the next.
This structure may make the fund more sensitive to the behaviour of a relatively small set of stocks. Because the holdings are diversified across finance, healthcare, metals, power and capital goods, the portfolio is not narrowly confined to one industry, but the concentration in the leading names could still be a meaningful factor for returns.
Source data date: as of 11 Sep 2026
Who should invest
This fund is better aligned with investors who are comfortable with High Risk equity exposure and can stay invested through uneven periods. The recent return pattern has been modest, while the benchmark comparison shows that the fund has sometimes held up better in short windows than the benchmark, but without delivering a strong long-run record yet.
The portfolio construction also matters: the top holdings carry meaningful weight, so the fund may suit an investor who accepts stock-specific swings in exchange for a momentum-driven approach. A medium-to-long horizon is more sensible here than a short holding period, because the strategy needs time for its factor tilt to play out.
The main trade-off is simple: you get a focused rules-based equity exposure, but you must accept that returns may be uneven and can lag stronger peer results over some periods. That makes the fund more suitable for investors who want an index-based momentum strategy and are comfortable with volatility.
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: 0.20% on or before 7D, Nil after 7D.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of Baroda BNP Paribas Nifty200 Momentum 30 Index Fund Direct Growth Plan?
The current NAV is ₹8.1149 as of 11 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 0.16%, while the 3-year and 5-year returns are both 0%.
How has the fund compared with its benchmark recently?
It has done better than the benchmark over the 1-month, 3-month and 1-year windows. The benchmark was more negative in each of those periods.
How does it compare with the peer funds shown here?
Its 1-year return is well below the stronger peer figures shown, including several funds above 25% for the same period. The longer peer figures are not widely available, so the clearest comparison is on the 1-year number.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Neeraj Saxena and Meenakshi Gururaj. The exit load is 0.20% on or before 7D, and nil after 7D.
Bottom line
Baroda BNP Paribas Nifty200 Momentum 30 Index Fund Direct Growth Plan has shown a mixed picture: short-term numbers are modest, but they have held up better than the benchmark in the recent windows tracked here. Against peers, the 1-year return looks much weaker, so the fund has not yet built the kind of absolute performance seen in several thematic index alternatives. The portfolio is concentrated in a focused set of 30 stocks, which may increase sensitivity to stock-specific moves. That makes it a better fit for patient investors who can tolerate High Risk equity swings.
Published on 15 September 2026 at 3:11 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.