SBI Nifty Next 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI Nifty Next 50 Index Fund Direct Growth Plan has a NAV of ₹19.548 as of 16 Sep 2026, and its scheme AUM stands at ₹2,366 Cr. Its 1-year, 3-year and 5-year returns are 2.57%, 15.7% and 10.66%, respectively, and it sits in the High Risk category.
Our view is that this fund suits investors who can tolerate sharp swings and are comfortable with a Next 50 style equity exposure. The 3-year figure is much stronger than the 1-year outcome, which suggests recent weakness rather than a broken long-term setup, but the benchmark behaviour shows that the ride can be uneven.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹19.548 as of 16 Sep 2026 |
| AUM | ₹2,366 Cr |
| Expense Ratio | 0.31% |
| Launch Date | 19 May 2021 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 30D, Nil after 30D |
| Fund Managers | Viral Chhadva |
The fund is managed by Viral Chhadva.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -5.5% | -4.41% |
| 3M | -2.31% | -3.6% |
| 1Y | 2.57% | -7.76% |
| 3Y | 15.7% | 5.74% |
| 5Y | 10.66% | 5.67% |
Recent performance has been choppy. The fund was weaker over the latest month, but it has held up better than the benchmark over the 3-month and 1-year periods. That tells us the strategy has not moved in a straight line, even though the trailing 1-year return remains positive while the benchmark is negative.
The longer view is more constructive. The 3-year and 5-year figures are both ahead of the benchmark, with the 3-year gap especially wide. That pattern suggests the fund has captured a good part of the Next 50 opportunity set over a full market cycle, even if the most recent phase has been softer.
The time pattern also points to meaningful volatility. The portfolio has seen several pullbacks and recoveries rather than a smooth climb, so returns have come with visible swings. For an index fund, that is an important reminder that the underlying segment can behave differently from the larger NIFTY 50 universe.
In our view, the key takeaway is that short-term weakness does not erase the stronger medium-term record, but it does show that timing matters. Investors looking at this fund should judge it over a multi-year horizon rather than on the latest few months.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD SBI Nifty Next 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 SBI Nifty Next 50 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI Nifty Next 50 Index Fund Direct Growth Plan | 2.57% | 15.7% | 10.66% |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.13% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.68% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 17.57% | 18.84% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest 1-year figure, this fund trails the strongest peer numbers in the table, which are well into the teens and above. Its own 3-year result is sturdier than that short-term showing, and the 5-year number remains respectable, so the comparison is mixed rather than one-sided.
What stands out is that the longer-term record is more balanced than the recent snapshot. Against peers with available multi-year data, the fund looks better supported over 3 years than over 1 year, while some specialized peer strategies have posted much sharper recent gains. That creates a two-part story: the fund has shown better medium-term resilience, but the latest year has been quieter than several peers.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Divi’S Laboratories Ltd. | Healthcare | 4.74% |
| TVS Motor Company Ltd. | Automobile & Ancillaries | 4.02% |
| Tata Motors Ltd. | Domestic Equities | 3.88% |
| Hindustan Aeronautics Ltd. | Capital Goods | 3.59% |
| Adani Power Ltd. | Power | 3.24% |
| Cholamandalam Investment & Finance Co. Ltd. | Finance | 3.17% |
| Samvardhana Motherson International Ltd. | Automobile & Ancillaries | 2.97% |
| Torrent Pharmaceuticals Ltd. | Healthcare | 2.93% |
| Cummins India Ltd. | Automobile & Ancillaries | 2.72% |
| Bharat Petroleum Corporation Ltd. | Crude Oil | 2.59% |
The largest holding, Divi’S Laboratories Ltd., carries a 4.74% weight, so no single name dominates the portfolio. The gap from the first holding to the tenth is modest, moving from 4.74% to 2.59%, which suggests the largest positions are grouped fairly closely together rather than skewed heavily toward one stock.
The top 10 holdings together account for approximately 33.85% of the portfolio, and the fund discloses 50 holdings in total. That mix suggests a meaningful spread beyond the largest positions, even though the top names still may exert more influence than the rest of the tail. Because this is an index fund, that balance can help keep exposure broad while still leaving the portfolio sensitive to the performance of several large constituents.
To see all holdings, visit the SBI Nifty Next 50 Index Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with High Risk equity exposure and can stay invested for several years. The 3-year and 5-year numbers are more supportive than the 1-year outcome, so a shorter horizon would not capture the stronger part of the record.
The main trade-off is straightforward: you get broad participation in the Nifty Next 50 segment, but the path can be volatile and may lag or lead the benchmark at different times. Investors who want a smoother ride may find the swings difficult, while those who can tolerate them may appreciate the longer-term recovery pattern.
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% if units are sold on or before 30 days. No exit load after 30 days.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of SBI Nifty Next 50 Index Fund Direct Growth Plan?
The current NAV is ₹19.548 as of 16 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 2.57%, the 3-year return is 15.7% and the 5-year return is 10.66%.
How does the fund compare with its benchmark?
It has outpaced the benchmark over 1 year, 3 years and 5 years. The benchmark return is -7.76% over 1 year, 5.74% over 3 years and 5.67% over 5 years.
How does it compare with the peer funds listed here?
Its 1-year return is lower than several peer strategies shown here, but its 3-year and 5-year record is more balanced than its recent one-year showing. The comparison is mixed rather than one-directional.
Is there a minimum SIP?
The minimum SIP is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Viral Chhadva. The exit load is 0.25% if units are sold on or before 30 days, and nil after 30 days.
Bottom line
This fund’s recent numbers are softer than its medium-term record, but the 3-year and 5-year returns remain stronger than the benchmark. Against the peer set shown here, the 1-year figure is modest, while the longer-term profile looks steadier. The portfolio is spread across 50 holdings, with the largest positions still carrying meaningful weight but not extreme concentration. For investors who can live with High Risk equity swings and prefer a multi-year holding period, the fund offers a clear Next 50 style exposure with an uneven but workable track record.
Published on 17 September 2026 at 10:11 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.