HDFC NIFTY100 Low Volatility 30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HDFC NIFTY100 Low Volatility 30 Index Fund Direct Growth Plan is an index fund with a NAV of ₹10.1361 as of 10 Sep 2026 and scheme AUM of ₹219 Cr. Its 1-year, 3-year and 5-year returns are -5.02%, 0% and 0%, and it sits in the High Risk category. Our view is that the fund is better suited to investors who want a rules-based low-volatility exposure within equities and can tolerate weak near-term outcomes while waiting for the strategy to work through a full market cycle.
The return pattern is uneven: recent performance is negative, but the 3-month figure is positive and the fund has held up better than its benchmark over some shorter periods. The portfolio is concentrated in 30 stocks, with financials, healthcare, consumer and industrial names carrying meaningful weight. That profile may appeal to investors who want a concentrated low-volatility equity sleeve, but it still needs a long horizon and comfort with equity drawdowns.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.1361 as of 10 Sep 2026 |
| AUM | ₹219 Cr |
| Expense Ratio | 0.4% |
| Launch Date | 10 Jul 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Arun Agarwal, Nandita Menezes |
The fund is managed by Arun Agarwal and Nandita Menezes.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -5.34% | -4.06% |
| 3M | 1.99% | 1.37% |
| 1Y | -5.02% | -7.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The short-term path has been mixed, with a sharp 1-month decline followed by a small recovery over 3 months. That kind of swing matters because low-volatility strategies are usually chosen to reduce the intensity of equity moves, yet this fund has still moved through a noticeable patch of weakness in the latest month.
Over 1 year, the fund is less negative than its benchmark, which suggests it has absorbed market pressure better than the Nifty 50 in the same span. That said, a smaller loss is still a loss, so the recent record does not yet show a clean defensive premium.
The 3-month result is modestly positive and also ahead of the benchmark, which tells us the strategy has stabilised somewhat after the latest downturn. The available pattern therefore looks better in the recent quarter than over the trailing year.
We would read the fund as a short-horizon recovery story rather than a settled long-term compounding story. Because the scheme launched only in July 2024, the longer-duration return fields are not yet meaningful, so investors should focus more on how the portfolio behaves across changing market conditions than on headline multi-year figures.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD HDFC NIFTY100 Low Volatility 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 HDFC NIFTY100 Low Volatility 30 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HDFC NIFTY100 Low Volatility 30 Index Fund Direct Growth Plan | -5.02% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 33.08% | 30.07% | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 26.95% | Data not available | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 26.94% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 24.33% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 23.74% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s latest 1-year result is below all five peer funds shown here, while its own 3-month gain is modest and positive. That means the short-term comparison is not flattering on a trailing 1-year basis, even though the recent quarter looks steadier than the latest month.
Where the comparison becomes more nuanced is that several peers are very different strategies, including thematic and international index funds with strong recent gains. Against that backdrop, this fund’s return profile looks far more defensive and subdued. The available peer history also does not offer a long multi-year record for most names, so the clearest contrast remains in the 1-year window rather than the longer periods.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Ltd. | Bank | 4.09% |
| Bajaj Auto Limited | Automobile & Ancillaries | 3.97% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 3.79% |
| Nestle India Ltd. | FMCG | 3.73% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 3.70% |
| Tata Consultancy Services Ltd. | IT | 3.64% |
| Titan Company Ltd. | Diamond & Jewellery | 3.59% |
| Bajaj Finserv Ltd. | Finance | 3.58% |
| SBI Life Insurance Company Ltd. | Insurance | 3.55% |
| NTPC Limited | Power | 3.51% |
The top holding, ICICI Bank Ltd., carries a 4.09% weight, so no single stock dominates the fund on its own. The tenth holding, NTPC Limited, still sits at 3.51%, which shows that the largest positions are packed closely together rather than falling away sharply.
The top 10 holdings account for approximately 37.15% of the portfolio, so the remaining exposure is spread across 20 more holdings. That split suggests a moderate level of concentration at the top, but not an extreme one.
With 30 holdings in total and a fairly tight band between the largest and tenth positions, the fund may allow several names to matter at once instead of relying on just one or two leaders. At the same time, the long tail outside the top 10 may still contribute meaningfully to overall behaviour, so the portfolio should be viewed as concentrated in its better-known names but not narrowly dependent on a single sector or stock.
To see all holdings, visit the HDFC NIFTY100 Low Volatility 30 Index Fund Direct Growth Plan page
Source data date: as of 10 Sep 2026
Who should invest
This fund suits investors who can accept equity volatility and are comfortable with a High Risk profile, even though the strategy is designed to focus on lower-volatility stocks. A multi-year horizon is important here, because the available 1-year result is negative while the recent 3-month figure is positive, which points to a fund that can move around before any steadier pattern emerges.
It is most relevant for someone who wants index-based equity exposure but is looking for a potentially calmer stock mix than a broad-market approach. The main trade-off is that lower-volatility selection does not guarantee smooth returns, and the fund can still go through losing periods relative to the benchmark. Investors who want a patient, equity-oriented allocation and can accept uneven short-term results may find the structure more suitable than those needing stable near-term outcomes.
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 10 Sep 2026
Frequently asked questions
What is the current NAV of HDFC NIFTY100 Low Volatility 30 Index Fund Direct Growth Plan?
The NAV is ₹10.1361 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -5.02%, while the 3-year and 5-year returns are both 0% in the available record.
How does the fund compare with Nifty 50?
The fund has done better than Nifty 50 over 1 year and 3 months, but it still posted a negative 1-year return. Over 1 month, it lagged the benchmark slightly.
How does it compare with the peer funds shown here?
Its 1-year return is weaker than the peer funds listed here, while the available 3-year and 5-year figures are not available for most of them. The recent quarter looks steadier, but the 1-year comparison remains soft.
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 Arun Agarwal and Nandita Menezes. The exit load is nil, so there is no exit charge on redemption.
Bottom line
This fund’s recent picture is mixed: the latest month was weak, the latest quarter was positive, and the 1-year return is still negative. Compared with the benchmark, it has held up a little better over 1 year and 3 months, but it has not yet delivered a clean defensive advantage. The portfolio is reasonably spread across 30 holdings, though the top 10 still carry a meaningful share. It may suit patient equity investors who want a low-volatility index approach and can live with uneven short-term results.
Published on 11 September 2026 at 3:20 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.