Groww Nifty Midcap 150 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww Nifty Midcap 150 Index Fund Direct Growth Plan has a current NAV of ₹10.0274 as of 16 Sep 2026, with scheme AUM of ₹15 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund is tagged High Risk. Our view is that this is still an early-stage midcap index option, so the main question is less about long-term compounding history and more about whether an investor is comfortable with market swings while the scheme builds its record.
Against that backdrop, the fund’s recent pattern has been weak, while the portfolio already shows a spread across several midcap names rather than a single dominant bet. That makes it more suitable for investors who want broad midcap exposure through a direct growth plan and can stay patient through short-term volatility, rather than those looking for a stable or proven return profile.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.0274 as of 16 Sep 2026 |
| AUM | ₹15 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 13 Nov 2025 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Aakash Chauhan, Nikhil Satam, Shashi Kumar |
The fund is managed by Aakash Chauhan, Nikhil Satam and Shashi Kumar.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.6% | -4.41% |
| 3M | -1.7% | -3.6% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent numbers point to a softer patch. Over 1 month, the fund trailed the benchmark by a small margin, while over 3 months it held up better than the benchmark and recovered some ground. That pattern suggests the scheme has not moved in a straight line, which is normal for a midcap strategy, but it also shows that short bursts of weakness can appear even when the broader trend improves.
Because the fund was launched on 13 November 2025, there is no meaningful 1-year, 3-year or 5-year performance history yet. That matters more than the small short-term swings, because investors are effectively looking at a young index fund that has not had time to build a long track record through different market phases.
Compared with the benchmark, the fund’s 1-month figure is slightly weaker, while the 3-month figure is somewhat better. Our view is that this mix tells a simple story: the fund can move with the market, but the near-term path has not yet established a consistent edge over its benchmark.
For investors, the main takeaway is that the current performance evidence is limited. The available trend is useful for judging short-term behaviour, but it is not enough to make a strong judgement about long-run consistency.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Groww 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 Groww Nifty Midcap 150 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww Nifty Midcap 150 Index Fund Direct Growth Plan | Data not available | 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 current fund has no visible 1-year, 3-year or 5-year return history yet, so it cannot be compared on a like-for-like basis with the peer funds that do have longer records. Among the peers with available figures, the strongest recent numbers are well above zero, which highlights how early the current scheme still is in its lifecycle. The short-term peer picture and the longer-track peers therefore tell different stories: the peer set shows established return histories, while this fund is still building one.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| BSE Ltd | Finance | 3.13% |
| The Federal Bank Limited | Bank | 2.06% |
| Multi Commodity Exchange of India Ltd. | Finance | 2.03% |
| 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 | 1.57% |
| PB Fintech Limited | IT | 1.52% |
| Bharat Heavy Electricals Limited | Capital Goods | 1.51% |
The top 10 holdings account for approximately 18.51% of the portfolio.
To see all holdings, visit the Groww Nifty Midcap 150 Index Fund Direct Growth Plan page
The largest holding, BSE Ltd at 3.13%, is not unusually large on its own, which suggests the scheme does not rely on one position to drive the portfolio. The drop from the first holding to the tenth is fairly gradual, ending at 1.51%, so the top layer looks spread across several medium-sized positions rather than sharply concentrated in a few names.
That said, the displayed top 10 positions still account for only 18.51% of the disclosed portfolio, while 83 holdings are shown in total. Our view is that this points to a fairly broad tail beyond the largest names, which may reduce dependence on any single stock but can also dilute the impact of the biggest winners.
For a midcap index fund, this spread is important because midcap exposure can move unevenly across sectors and individual companies. The current structure may therefore give investors a wide market-style exposure within the midcap space instead of a narrow, stock-led portfolio.
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk and are comfortable with a midcap-led market swing. The short-term figures show that performance can move around, and the scheme is still too young to judge on long-cycle returns, so the cleaner fit is for investors with a long horizon rather than a near-term need for stability.
The trade-off is straightforward: you get broad midcap index exposure, but you must accept that the return path may stay uneven in the early years. Compared with the benchmark and the peer set, the current evidence is still limited, so patience matters more than short-term performance chasing.
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 16 Sep 2026
Frequently asked questions
What is the current NAV of Groww Nifty Midcap 150 Index Fund Direct Growth Plan?
The current NAV is ₹10.0274 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available. The scheme was launched on 13 November 2025, so it does not yet have a meaningful long-term return history.
How has the fund performed against its benchmark?
Over 1 month, the fund is at -4.6% versus the benchmark at -4.41%, while over 3 months it is at -1.7% versus the benchmark at -3.6%. The recent picture is mixed, with one period slightly weaker and the other slightly better.
How does it compare with the peer funds listed here?
The current fund does not yet have a visible 1-year, 3-year or 5-year return history, while the listed peers show longer records in several cases. That means the comparison is more useful for seeing the range of peer performance than for drawing a direct like-for-like conclusion.
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 Aakash Chauhan, Nikhil Satam and Shashi Kumar. Exit load is No exit load.
Bottom line
This is a High Risk midcap index fund with a very short operating history, so the available performance record is still limited. Recent behaviour has been mixed versus the benchmark, and the peer set contains funds with much longer return histories. The portfolio is fairly spread across 83 disclosed holdings, with the top 10 accounting for 18.51%, so the structure looks diversified rather than heavily concentrated. That combination makes it suitable for investors who want broad midcap exposure and can stay patient through uneven early-stage performance.
Published on 17 September 2026 at 12:40 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.