Groww Nifty Smallcap 250 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 21, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww Nifty Smallcap 250 Index Fund Direct Growth Plan has a NAV of ₹12.2139 as of 18 Sep 2026 and an AUM of ₹139 Cr. Its 1-year, 3-year and 5-year returns are 4.82%, 0% and 0%, and the scheme carries a High Risk tag. Our view is that this is a small-cap index fund for investors who can handle sharp swings and are looking for broad small-cap market participation rather than smooth short-term outcomes.
The fund’s recent return profile is uneven, but the latest 1-year figure is still positive, and the portfolio shows exposure to a fairly long list of holdings rather than a narrow set of names. That can help spread single-stock risk, though the small-cap segment itself can remain volatile. For investors with a longer horizon and high tolerance for fluctuations, the fund may fit as a satellite allocation rather than a core stability holding.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹12.2139 as of 18 Sep 2026 |
| AUM | ₹139 Cr |
| Expense Ratio | 0.45% |
| Launch Date | 29 Feb 2024 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 7D, Nil after 7D |
| 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 18 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.68% | -3.73% |
| 3M | 2.61% | -3.14% |
| 1Y | 4.82% | -5.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent stretch has been better than the benchmark, especially over 3M and 1Y, where the fund stayed in positive territory while the benchmark remained negative. That tells us the portfolio has held up better than the benchmark in the short run, even though the overall small-cap backdrop has still been choppy.
The 1-month period is also constructive, with the fund losing less than the benchmark. This matters because the shorter time frame suggests the fund has not simply benefited from one clean rally; it has also absorbed down periods relatively better than the benchmark. For investors tracking near-term consistency, that is a useful sign.
Over the longer run available here, the comparison is limited because the scheme has not been running long enough to show 3-year or 5-year trailing numbers. So we read the current pattern as a young fund with improving short-term behaviour, but not yet a vehicle where long-term compounding can be judged from trailing periods.
That matters for interpretation. A small-cap index fund can move through strong and weak phases quickly, and the current return profile suggests that the latest phase has been more resilient than the benchmark. Still, this does not remove the underlying volatility that comes with the segment.
Source data date: as of 18 Sep 2026
Should you BUY or HOLD Groww 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 Groww Nifty Smallcap 250 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww Nifty Smallcap 250 Index Fund Direct Growth Plan | 4.82% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 31.6% | 30.84% | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.71% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.44% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 21.24% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 18.45% | 19.9% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available 1-year figures, the fund trails the peer examples listed here, while those peer funds have posted materially stronger short-term gains. That said, the comparison is uneven because some peers have 3-year histories and some do not, so the longer-run picture is not uniform across the group.
For this fund, the useful takeaway is that the recent return is positive but modest relative to the peer set shown, while its own 3-year and 5-year figures are still not available. So the short-term peer comparison looks weaker, but the absence of longer trailing numbers means we should avoid over-reading the gap as a full-cycle verdict.
Source data date: as of 18 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 | 1.49% |
| Karur Vysya Bank Limited | Bank | 1.49% |
| Navin Fluorine International Limited | Chemicals | 1.45% |
| Welspun Corp Ltd | Iron & Steel | 1.42% |
| Piramal Finance Ltd | Finance | 1.26% |
| Delhivery Limited | Logistics | 1.16% |
| HFCL Limited | Telecom | 1.16% |
| Central Depository Services (India) Ltd. | Business Services | 1.13% |
| RBL Bank Limited | Bank | 1.07% |
The largest disclosed holding is Sona BLW Precision Forgings Limited at 1.65%, which is small enough to keep any single position from dominating the visible slice of the portfolio. The drop from the first holding to the tenth is also limited: the tenth name still sits at 1.07%, so the top holdings are fairly tightly grouped.
The top 10 holdings account for approximately 13.28% of the portfolio, and the full disclosed set includes 62 holdings. That combination suggests a relatively spread-out stock selection rather than a highly concentrated book. At the same time, because these are small-cap names, each position may still contribute meaningfully to day-to-day movement even when the individual weights are modest.
In our view, the visible holdings point to a broad structure with many smaller positions outside the top 10. That may reduce dependence on any one stock, while still leaving the fund exposed to the sharper swings that can come from the small-cap segment overall.
To see all holdings, visit the Groww Nifty Smallcap 250 Index Fund Direct Growth Plan page
Source data date: as of 18 Sep 2026
Who should invest
This fund fits investors who can tolerate High Risk and who want a small-cap exposure with a long enough horizon to absorb uneven periods. The recent 1-year return is positive, but the lack of 3-year and 5-year trailing history means the fund is still too young for a mature long-term track record.
The main trade-off is that the benchmark comparison has been better in the near term, but the segment can still be volatile and may not behave smoothly from month to month. Investors who want a steadier journey or who need capital in the near term may find that trade-off hard to accept. Those who can stay invested through swings may find the structure more relevant.
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: 0.25% on or before 7D, Nil after 7D.
Source data date: as of 18 Sep 2026
Frequently asked questions
What is the current NAV of Groww Nifty Smallcap 250 Index Fund Direct Growth Plan?
The current NAV is ₹12.2139 as of 18 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.82%, 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 1M, 3M and 1Y. The fund’s 1-year return is 4.82%, while the benchmark’s 1-year return is -5.31%.
How does it compare with the peer funds listed here?
Its 1-year return is lower than the peer funds shown here that have published 1-year figures. The fund’s own longer trailing figures are not yet available, so the comparison is strongest on the recent period.
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 Aakash Chauhan, Nikhil Satam and Shashi Kumar. The exit load is 0.25% on or before 7 days and nil after 7 days.
Bottom line
Groww Nifty Smallcap 250 Index Fund Direct Growth Plan has shown a better short-term return pattern than its benchmark, but its 3-year and 5-year trailing figures are not yet available. That makes the fund easier to read as a newer small-cap option than as a mature long-term track record. The portfolio is spread across 62 holdings, with the largest visible position still small at 1.65%, which may help limit single-stock dependence. For investors who can accept High Risk and hold through volatility, the fund can serve as a small-cap allocation with broad exposure.
Published on 21 September 2026 at 10:24 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.