Mirae Asset BSE 200 Equal Weight ETF FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset BSE 200 Equal Weight ETF FoF Direct Growth Plan is an early-stage fund with a NAV of ₹11.387 as of 15 September 2026 and an AUM of ₹7 Cr. Its 1-year, 3-year and 5-year returns are 1.15%, 0% and 0%, and the official risk label is High Risk.
Our view is that this is a very narrow, index-linked allocation rather than a broad diversified active portfolio, so it can suit investors who are comfortable with sharp swings and want to stay invested long enough for the underlying equity exposure to work through cycles.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.387 as of 15 Sep 2026 |
| AUM | ₹7 Cr |
| Expense Ratio | 0.12% |
| Launch Date | 18 Mar 2025 |
| Min SIP | ₹99 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Others |
| Exit Load | 0.05% on or before 15D, Nil after 15D |
| Fund Managers | Ekta Gala, Akshay Udeshi |
The fund is managed by Ekta Gala and Akshay Udeshi.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -5.07% | -4.81% |
| 3M | -1.53% | -3.63% |
| 1Y | 1.15% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is choppy, with the fund weaker over one month but less negative than the benchmark over three months. That combination tells us the path has not been smooth, but the fund has handled the latest quarter a little better than the benchmark.
Over one year, the fund is positive at 1.15% while the benchmark is down 8.27%. That gap matters, because it shows the current stretch has been better than the benchmark even though the fund is still operating in a very new and unsettled phase.
The time pattern also suggests short bursts of recovery rather than a steady climb. For an investor, that means the fund is behaving like an equity-linked product that can recover after weak patches, but it does not yet have a long operating record to prove how it behaves across a full market cycle.
Because the scheme launched only in March 2025, 3-year and 5-year return fields are not available in a meaningful way for comparison. We therefore place more weight on the 1-year and recent month readings, both of which suggest the fund has been volatile but not uniformly negative relative to the benchmark.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Mirae Asset BSE 200 Equal Weight ETF FoF?
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 Mirae Asset BSE 200 Equal Weight ETF FoF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset BSE 200 Equal Weight ETF FoF Direct Growth Plan | 1.15% | Data not available | Data not available |
| DSP Silver ETF FoF Direct Growth Plan | 79.99% | Data not available | Data not available |
| UTI Silver ETF FoF Direct Growth Plan | 78.79% | 44.94% | Data not available |
| Tata Silver ETF FoF Direct Growth Plan | 76.13% | Data not available | Data not available |
| ICICI Pru Silver ETF FOF Direct Growth Plan | 73.08% | 44.2% | Data not available |
| UTI Gold ETF FoF Direct Growth Plan | 38.25% | 36.06% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On recent return data, this fund trails the strongest peer returns by a wide margin. That is not unusual for a scheme with a very different underlying exposure, but it does mean the short-term headline numbers do not compare favourably with the silver- and gold-oriented peers listed here.
The longer-view comparison is less direct because several peers do not have usable 3-year or 5-year figures. Where 3-year data is available, the current fund does not have a comparable edge, so our view is that the short-term story remains much weaker than the better-established peer figures shown here.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Mirae Asset BSE 200 Equal Weight ETF | Domestic Mutual Funds Units | 98.87% |
| TREPS | Cash & Cash Equivalents and Net Assets | 1.13% |
The portfolio is almost entirely concentrated in one underlying ETF holding, which is likely to have the greatest influence on returns and volatility. TREPS is a very small cash-like sleeve, so it is more of a liquidity buffer than a meaningful return driver.
The weight difference between the first and second holding is extremely steep: 98.87% versus 1.13%. That tells us the fund does not spread assets across many separate positions in the visible portfolio; instead, it behaves as a tightly wrapped exposure around a single underlying vehicle.
Since only two holdings are disclosed and they already account for 100% of the portfolio, there is no long tail visible here. In practical terms, that concentration may make the fund’s behaviour closely tied to the underlying ETF rather than to a wide mix of stock-level or sector-level decisions.
Source data date: as of 15 Sep 2026
Who should invest
This fund is better suited to investors who can tolerate High Risk and accept a path that may be uneven in the short run. The recent return pattern is mixed, but the one-year figure is better than the benchmark, which suggests the fund can hold up relatively well during certain stretches even though it has not yet built a long track record.
A longer horizon makes more sense than a short trading-style holding period, mainly because the scheme is new and the portfolio is tightly concentrated in one underlying ETF. The main trade-off is that investors get a low-cost, focused equity-linked structure, but they also accept concentrated exposure and limited history.
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: 0.05% on or before 15D, Nil after 15D.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset BSE 200 Equal Weight ETF FoF Direct Growth Plan?
The current NAV is ₹11.387 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 1.15%, while the 3-year and 5-year return fields are not available in a meaningful way for this scheme’s current history.
How does the fund compare with its benchmark?
Over 1 year, the fund is ahead of the benchmark because it returned 1.15% while the benchmark fell 8.27%. Over 3 months, the fund at -1.53% is also less negative than the benchmark at -3.63%.
How does it compare with the listed peer funds on recent returns?
Its 1-year return of 1.15% is far below the stronger peer figures shown here, such as 79.99%, 78.79%, 76.13%, 73.08% and 38.25%.
Is there a minimum SIP amount?
Yes, the minimum SIP amount is ₹99.
What are the risk label, portfolio structure and exit load?
The fund is labelled High Risk, and its disclosed portfolio is heavily concentrated in Mirae Asset BSE 200 Equal Weight ETF at 98.87%, with TREPS at 1.13%. The exit load is 0.05% on or before 15D and nil after 15D.
Bottom line
This fund’s short-term behaviour is mixed, but its 1-year return is better than the benchmark’s decline, which is a more constructive sign than the recent one-month slip. Compared with the listed peers, the return profile is much weaker on the available figures, while the risk label and the near-single-holding portfolio tell us this is a concentrated, market-sensitive product. Our view is that it fits investors who want a focused equity-linked exposure and can stay patient through uneven periods.
Published on 16 September 2026 at 2:31 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.