DSP NIFTY 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
DSP NIFTY 50 Index Fund Direct Growth Plan has a NAV of ₹22.8453 as of 15 Sep 2026 and an AUM of ₹1,108 Cr. Its 1-year, 3-year and 5-year returns are -5.53%, 6.4% and 7.15%, and the scheme is tagged as High Risk. Our view is that it suits investors who want Nifty 50 exposure through a low-cost index fund and are comfortable with equity-style swings, but the recent one-year setback shows that the path can still be choppy.
The fund is built for investors who can hold through drawdowns and want a direct passive allocation to large-cap Indian equities. The portfolio is concentrated in financials, energy, telecom, infrastructure and technology leaders, so performance will largely reflect how the Nifty 50’s biggest names behave over time.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹22.8453 as of 15 Sep 2026 |
| AUM | ₹1,108 Cr |
| Expense Ratio | 0.18% |
| Launch Date | 21 Feb 2019 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Anil Ghelani, Diipesh Shah, Neha Rathi |
The fund is managed by Anil Ghelani, Diipesh Shah and Neha Rathi.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.79% | -4.81% |
| 3M | -3.12% | -3.63% |
| 1Y | -5.53% | -8.27% |
| 3Y | 6.4% | 5.59% |
| 5Y | 7.15% | 5.58% |
The recent picture is soft, but not meaningfully worse than the benchmark. Over 1 month and 3 months, the fund and NIFTY 50 both stayed under pressure, and the fund held up slightly better than the index in both windows.
The 1-year number is still negative, yet it is less weak than the benchmark’s decline. That matters because an index fund is expected to track the market closely; here, the fund has stayed near the benchmark while preserving a modest edge in a difficult year.
The longer horizon looks steadier. Over 3 years and 5 years, the fund has moved back into positive territory and has stayed ahead of the benchmark in both periods. That suggests the drag seen in the last year has not broken the broader compounding pattern, although returns remain moderate rather than strong.
For investors, the key point is that this is a market-linked product where short-term weakness can coexist with acceptable longer-term tracking. The time pattern also shows that the fund did not escape the broader equity drawdown, but it has continued to behave like a plain index vehicle rather than a very active or style-driven fund.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD DSP NIFTY 50 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 DSP NIFTY 50 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| DSP NIFTY 50 Index Fund Direct Growth Plan | -5.53% | 6.4% | 7.15% |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 32.61% | 29.92% | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 25.91% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.71% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.15% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 18.11% | 18.92% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available one-year figures, the fund trails several thematic peers that have benefited from stronger sector momentum, but that is not surprising for a broad Nifty 50 index strategy. The more useful comparison is over 3 years and 5 years, where the fund stays in positive territory and remains ahead of the benchmark in its own segment, while some peers lack longer records altogether. That creates two different stories: the short-term return looks subdued, but the longer-term line still supports the case for steady index-style participation rather than chasing a sector theme.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 9.83% |
| ICICI Bank Limited | Bank | 9.43% |
| Reliance Industries Limited | Crude Oil | 7.81% |
| Bharti Airtel Limited | Telecom | 4.99% |
| Larsen & Toubro Limited | Infrastructure | 4.29% |
| State Bank of India | Bank | 3.97% |
| Infosys Limited | IT | 3.6% |
| Axis Bank Limited | Bank | 3.38% |
| Kotak Mahindra Bank Limited | Bank | 2.8% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 2.65% |
The largest holding, HDFC Bank Limited, carries a 9.83% weight, so it can have a meaningful influence on how the fund behaves. The second holding, ICICI Bank Limited, is close behind at 9.43%, which tells us the top two positions alone already account for a sizeable slice of the portfolio.
Weight then steps down gradually rather than collapsing after the first few names. By the tenth holding, the position size is 2.65%, which shows that the fund is concentrated in a handful of large constituents but still keeps a broader spread across ten names and 49 disclosed holdings in total.
The top 10 holdings account for approximately 52.75% of the portfolio. That level suggests the disclosed core positions may matter more than the tail, but the remaining holdings still provide additional diversification across the index. For an index fund, that pattern is consistent with tracking a benchmark dominated by a relatively small set of large companies.
To see all holdings, visit the DSP NIFTY 50 Index Fund Direct Growth Plan page
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk equity exposure and want a simple Nifty 50 allocation that can be held for several years. The 1-year decline shows that the path can be volatile, while the 3-year and 5-year returns show that longer holding periods can help smooth the experience.
It is better suited to investors with a medium-to-long horizon who can tolerate short-term drawdowns in exchange for broad large-cap market participation. The main trade-off is straightforward: lower-cost index exposure and benchmark-style behaviour, but without protection from market-wide weakness when large stocks fall together.
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 15 Sep 2026
Frequently asked questions
What is the current NAV of DSP NIFTY 50 Index Fund Direct Growth Plan?
The current NAV is ₹22.8453 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is -5.53%, the 3-year return is 6.4%, and the 5-year return is 7.15%.
How does this fund compare with the Nifty 50 benchmark?
It has stayed close to the Nifty 50 across short periods and has outpaced the benchmark over 1 year, 3 years and 5 years. The recent period remains weak, but the longer horizon is still ahead of the benchmark.
How does it compare with the peer funds listed here?
Several peers posted much stronger 1-year returns, especially the thematic index funds, but the comparison becomes less direct because they track different segments. On longer periods where data is available, this fund remains positive and has a steadier large-cap profile than the more concentrated sector funds.
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 Anil Ghelani, Diipesh Shah and Neha Rathi. The exit load is no exit load.
Bottom line
The recent one-year performance is weaker than the longer-term picture, but it still sits close to the benchmark and stays ahead of the Nifty 50 over 3-year and 5-year horizons. In peer context, the fund looks more subdued than several thematic alternatives on recent returns, yet its broad large-cap mandate makes the comparison more about consistency than chasing short bursts of strength. The portfolio is led by a few large financial and index heavyweights, so market moves in those names can matter a lot. This is a better fit for investors seeking steady index exposure and able to tolerate equity volatility.
Published on 16 September 2026 at 11:55 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.