Nippon India Nifty 500 Momentum 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Nippon India Nifty 500 Momentum 50 Index Fund Direct Growth Plan had a NAV of ₹8.6597 as of 10 Sep 2026, with scheme AUM of ₹1,326 Cr. Its 1-year, 3-year and 5-year returns are 8.96%, 0% and 0%, and the fund sits in the High Risk bucket. Our view is that this is a momentum-style index fund for investors who can accept sharp swings in return path and a benchmark that has been uneven in the recent past.
The fund’s latest return profile is modest relative to its risk label, but the portfolio is built around concentrated positions in cyclical and market-sensitive names. That can help when momentum is in favour, yet it also means the experience can differ meaningfully from a plain broad-market exposure.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹8.6597 as of 10 Sep 2026 |
| AUM | ₹1,326 Cr |
| Expense Ratio | 0.25% |
| Launch Date | 30 Sep 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Jitendra Tolani |
The fund is managed by Jitendra Tolani.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.75% | -4.06% |
| 3M | 8.37% | 1.37% |
| 1Y | 8.96% | -7.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Recent performance has been better than the benchmark across all the available windows. The strongest evidence is in the 3-month and 1-year periods, where the fund stayed positive while the benchmark was weak over 1 year and still negative over 1 month. That tells us the strategy has handled the latest phase better than a simple Nifty 50 exposure.
The daily path also looks choppy rather than smooth. The 1-month series shows small ups and downs with only a modest net gain, while the 3-month and 1-year paths include several dips before recovery. This kind of pattern is consistent with a momentum-oriented portfolio: returns can move faster than the broad market in favourable stretches, but they can also give back gains when leadership shifts.
Because the fund has only a short public history, the 3-year and 5-year figures are not available. That limits how confidently we can judge consistency across a full market cycle. For now, the available evidence says the fund has been ahead of the benchmark recently, but the shorter track record still matters when assessing repeatability.
Compared with the benchmark, the gap is most visible over 1 year, where the fund was positive and the index was negative. That is a meaningful difference, but it should be read alongside the risk label and the narrow construction of the portfolio. Our view is that the fund’s recent edge is real, yet it has not yet been tested over a longer period.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Nippon India Nifty 500 Momentum 50 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 Nippon India Nifty 500 Momentum 50 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Nippon India Nifty 500 Momentum 50 Index Fund Direct Growth Plan | 8.96% | 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. On available 1-year numbers, the fund trails the stronger peer returns in this set, which are clustered well above it. Its longer-window comparison is harder to judge because 3-year and 5-year figures are not available for the fund, while one peer shows a strong 3-year figure and the rest do not provide longer histories here.
The short-term comparison therefore points to a more modest return profile than several thematic peers, but the absence of longer-term figures for the fund means the story is still incomplete. For investors, the key distinction is between a recent, positive but comparatively restrained result and peers that have shown much faster recent gains.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Multi Commodity Exchange of India Limited | Finance | 5.71% |
| Laurus Labs Limited | Healthcare | 5.64% |
| Shriram Finance Limited | Finance | 5.2% |
| Hindalco Industries Limited | Non – Ferrous Metals | 4.96% |
| Cummins India Limited | Automobile & Ancillaries | 4.38% |
| Ge Vernova T&D India Limited | Capital Goods | 4.2% |
| Adani Power Limited | Power | 4.11% |
| BSE Limited | Finance | 4.03% |
| The Federal Bank Limited | Bank | 3.76% |
| Bharat Heavy Electricals Limited | Capital Goods | 3.46% |
The top 10 holdings account for approximately 45.45% of the portfolio.
To see all holdings, visit the Nippon India Nifty 500 Momentum 50 Index Fund Direct Growth Plan page
The largest holding, Multi Commodity Exchange of India Limited, is 5.71% of the portfolio, so no single position dominates the fund on its own. Even so, the weights stay fairly elevated across the first few names, with the tenth holding still at 3.46%. That suggests the portfolio may be sensitive to the performance of a relatively small group of stocks.
The fall from the largest holding to the tenth is not steep, which means the portfolio is distributed across several meaningful positions rather than a single outsized bet. At the same time, the top 10 names together make up about 45.45% of the disclosed holdings, so the fund could still see performance shaped by a concentrated core.
Because 41 holdings are disclosed, the displayed list appears to sit on top of a wider tail of smaller positions. That broader tail may reduce reliance on any one stock, but the top weights still look important enough to influence short-term outcomes when momentum leadership shifts.
Source data date: as of 10 Sep 2026
Who should invest
This fund is best suited to investors who can tolerate High Risk and are comfortable with a return path that may not move smoothly. The short history and the uneven benchmark behaviour suggest that it fits a longer horizon better than a short-term parking need.
The available numbers also point to a trade-off: the fund has done better than the benchmark in the recent windows we can measure, but it does so through a concentrated momentum style that can change character quickly. Investors who want broad, steady market-like behaviour may find that uncomfortable, while those who understand cyclical leadership may be more at home with it.
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 Nippon India Nifty 500 Momentum 50 Index Fund Direct Growth Plan?
The current NAV is ₹8.6597 as of 10 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 8.96%. The 3-year and 5-year returns are Data not available.
How has the fund performed against the benchmark?
It has been ahead of the benchmark in the available periods. The fund showed 0.75% over 1 month, 8.37% over 3 months and 8.96% over 1 year, while the benchmark was negative over 1 month and 1 year.
How does it compare with the peer funds listed here?
Its 1-year return is lower than several of the listed peers, while its longer-term comparison is limited because its 3-year and 5-year figures are not available. That makes the recent comparison easier to read than the long-term one.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
What is the risk level, and who manages the fund?
The fund is in the High Risk category and is managed by Jitendra Tolani. Its portfolio is led by a relatively concentrated set of holdings, which can make returns more sensitive to stock selection and market leadership.
Bottom line
This fund has a stronger recent record than its benchmark, but the longer-term picture is still incomplete because 3-year and 5-year returns are not available. Compared with the peer set listed here, its 1-year return is more modest, while the portfolio shows a concentrated core built around several market-sensitive names. That combination makes it better suited to investors who understand momentum-style behaviour, can stay invested through swings, and are comfortable with a High Risk profile rather than looking for smooth or defensive returns.
Published on 11 September 2026 at 6:11 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.