Kotak Nifty Midcap 150 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Kotak Nifty Midcap 150 Index Fund Direct Growth Plan has a NAV of ₹11.504 as of 15 Sep 2026 and a scheme AUM of ₹47 Cr. Its 1-year, 3-year and 5-year returns are 3.4%, 0% and 0%, and the fund sits in the High Risk bucket. Our view is that this is a compact, early-stage index option that has held up better over 1 year than its benchmark, but its short history and uneven recent stretch mean it suits only investors who can tolerate sharp moves.
The fund is designed for midcap exposure through an index format, so the main trade-off is between diversification across a broad midcap basket and the possibility of volatility that comes with that segment. The current portfolio is still modest in size, with a limited AUM base and a concentrated top-holding list, so near-term returns may continue to move around more than a mature large-cap style index fund.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.504 as of 15 Sep 2026 |
| AUM | ₹47 Cr |
| Expense Ratio | 0.15% |
| Launch Date | 21 Mar 2025 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
The fund is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.64% | -4.81% |
| 3M | -1.19% | -3.63% |
| 1Y | 3.4% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern has been choppy, but the fund has still done better than the benchmark over each visible window. Over 1 month and 3 months, both the fund and benchmark were under pressure, yet the fund fell by less over 3 months and only marginally less over 1 month. That suggests the index basket has not been immune to weakness, but it has shown some relative resilience.
The 1-year view is more constructive for the fund. The fund is up 3.4% while the benchmark is down 8.27%, which gives the strategy a clear lead over the same period. That difference matters because it shows the fund was able to recover even though the broader benchmark remained negative over the year.
At the same time, the 3-year and 5-year figures are not yet available, so we should be careful not to read too much into long-run compounding. The available daily pattern still points to a fund that has moved through drawdowns and recoveries rather than a smooth climb. For an index fund in this space, that is not unusual, but it does mean investors should judge it as a midcap exposure with meaningful volatility rather than as a steady core holding.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Kotak 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 Kotak Nifty Midcap 150 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Kotak Nifty Midcap 150 Index Fund Direct Growth Plan | 3.4% | Data not available | Data not available |
| 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.
The fund’s 1-year return is far below the faster-moving peer examples in this set, but the peer list also spans different themes, so the comparison mainly shows how much the recent outcome can vary across index strategies. On the longer end, there is limited room for a direct 3-year or 5-year comparison because this fund does not yet show those figures, while two peers do have multi-year history. That makes the short-term picture more useful than the long-term one for now.
What stands out is that the fund’s recent return profile is positive but modest, whereas several peers have much stronger 1-year figures. The gap is large enough to matter, even though the peer group is not identical in mandate. For an investor, that means the fund’s current appeal lies more in its low-cost midcap index exposure than in recent return leadership.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| BSE Ltd | Finance | 3.15% |
| Federal Bank Ltd. | Bank | 2.06% |
| Multi Commodity Exchange of India Limited | Finance | 2.03% |
| Laurus Labs Ltd | Healthcare | 1.75% |
| One 97 Communications Ltd | IT | 1.69% |
| Hero Motocorp Ltd. | Automobile & Ancillaries | 1.66% |
| Coforge Limited | IT | 1.62% |
| Indusind Bank Ltd. | Bank | 1.57% |
| PB Fintech Ltd. | IT | 1.52% |
| Bharat Heavy Electricals Ltd. | Capital Goods | 1.51% |
The top 10 holdings account for approximately 18.56% of the portfolio.
To see all holdings, visit the Kotak Nifty Midcap 150 Index Fund Direct Growth Plan page
This portfolio is spread across 83 disclosed holdings, so the visible top positions represent only a slice of the overall basket. The largest holding, BSE Ltd, is 3.15%, and the tenth holding is 1.51%, which shows a fairly gentle drop from the top to the tenth position rather than a sharp concentration spike.
Even so, the top 10 together make up 18.56%, which means the remaining holdings carry most of the portfolio weight. That structure may reduce dependence on any single stock, while still leaving the fund exposed to midcap-style swings because several of the larger positions sit in finance, banking and IT. Our view is that this is a broad basket with a long tail, not a narrow high-conviction portfolio.
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk exposure and can stay invested long enough to tolerate midcap volatility. The 1-year result is positive, but the shorter periods have been uneven and the fund does not yet have a long history of 3-year or 5-year numbers. That makes patience important.
It is more suitable for someone who wants broad midcap index participation rather than a low-volatility core allocation. The main trade-off is accepting swings in exchange for low-cost market exposure and a diversified stock basket. Compared with the benchmark, the fund has recently behaved better, but the journey can still be rough from one period to the next.
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 Kotak Nifty Midcap 150 Index Fund Direct Growth Plan?
The current NAV is ₹11.504 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 3.4%, while the 3-year and 5-year returns are Data not available in the visible performance table.
How has the fund done versus its benchmark?
It has done better than the benchmark over the visible periods. The fund is up 3.4% over 1 year, while the benchmark is down 8.27% over the same period.
How does the fund compare with the peer set on recent returns?
The fund’s 1-year return is lower than the stronger examples in the peer table, while several peer funds show much higher recent gains. That makes the fund look steadier than some peers in theme-specific strategies, but not as strong on recent return numbers.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages this fund and what is the exit load?
The fund is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar. There is no exit load.
Bottom line
Kotak Nifty Midcap 150 Index Fund Direct Growth Plan has shown a better 1-year outcome than its benchmark, but the shorter-period path has been uneven and the fund does not yet have a long published track record for 3-year or 5-year return comparisons. Against the peer set, its recent return is modest, though the comparison spans different index themes. The portfolio is broad, with 83 disclosed holdings and a relatively light top-10 concentration, which may suit investors seeking diversified midcap exposure with a High Risk profile.
Published on 16 September 2026 at 2:38 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.