SBI Nifty200 Momentum 30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI Nifty200 Momentum 30 Index Fund Direct Growth Plan has a NAV of ₹9.439 as of 15 Sep 2026 and scheme AUM of ₹118 Cr. Its 1-year, 3-year and 5-year returns are -3.66%, 0% and 0%, and the fund sits in the High Risk category.
Our view is that this is a momentum-oriented index strategy that has not yet built a long return track record. The recent numbers are weak, the benchmark comparison is mixed, and the portfolio is tilted toward a relatively small set of positions, so it may suit investors who can handle sharp swings and want to hold through periods of underperformance.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹9.439 as of 15 Sep 2026 |
| AUM | ₹118 Cr |
| Expense Ratio | 0.39% |
| Launch Date | 09 Jul 2025 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 15D, Nil after 15D |
| Fund Managers | Viral Chhadva |
The fund is managed by Viral Chhadva.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.6% | -4.81% |
| 3M | -4.24% | -3.63% |
| 1Y | -3.66% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern has been uneven. Over 1 month and 3 months, the fund remained negative, which tells us that short-term momentum has not yet translated into steady gains. The 1-month path was only slightly better than the benchmark, but the 3-month stretch lagged the benchmark, so recent behaviour has not been consistently supportive.
The 1-year figure is still negative, but it is materially better than the benchmark’s deeper decline. That matters because it suggests the portfolio has held up better than the reference index over a more complete market cycle, even if the absolute return is not yet comfortable for investors looking for smoother outcomes.
We would be careful about drawing long-horizon conclusions here. The fund was launched on 09 Jul 2025, so there is no 3-year or 5-year return history yet. For now, the available evidence points to a strategy that can recover relative ground at times, but it still carries the kind of drawdown profile that investors in a high-risk index product need to accept.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD SBI Nifty200 Momentum 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 SBI Nifty200 Momentum 30 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI Nifty200 Momentum 30 Index Fund Direct Growth Plan | -3.66% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.71% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | 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 current fund’s 1-year return is far below the stronger peer figures in this set, while some peers have also posted positive 3-year results that this fund cannot yet match because it has no 3-year history. That creates a clear gap between this fund’s near-term record and the more established long-term records visible among the peers. The story is therefore different across horizons: recent results are weak, while the absence of longer history limits any meaningful comparison on 3-year and 5-year terms.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Laurus Labs Ltd. | Healthcare | 5.94% |
| Multi Commodity Exchange of India Ltd. | Finance | 5.85% |
| Shriram Finance Ltd. | Finance | 5.32% |
| Hindalco Industries Ltd. | Non – Ferrous Metals | 5.08% |
| Tata Steel Ltd. | Iron & Steel | 4.73% |
| Cummins India Ltd. | Automobile & Ancillaries | 4.49% |
| NTPC Ltd. | Power | 4.48% |
| Ge Vernova T&D India Ltd. | Capital Goods | 4.3% |
| Vedanta Ltd. | Non – Ferrous Metals | 4.29% |
| Adani Power Ltd. | Power | 4.21% |
The largest holding is Laurus Labs Ltd. at 5.94%, and the next few positions are not far behind, which suggests the portfolio may move meaningfully if one or two of these names swing sharply. The drop from the top holding to the tenth is not steep, but it is enough to show that the fund is not driven by one oversized position; instead, influence is shared across several mid-sized holdings.
The top 10 holdings account for approximately 48.69% of the portfolio, and there are 30 disclosed holdings in total. That combination points to moderate concentration in the visible core, followed by a longer tail that is not shown here. In our view, this structure may create a balance between index-style diversification and a meaningful tilt toward the stronger names that currently sit near the top of the basket.
Because the top holdings are spread across healthcare, finance, metals, power and capital goods, the portfolio does not look narrowly dependent on one industry. Even so, the mid-5% weights indicate that several positions could have greater influence than a broadly diluted index fund, especially when momentum rotates quickly across sectors.
To see all holdings, visit the SBI Nifty200 Momentum 30 Index Fund Direct Growth Plan page
Source data date: as of 15 Sep 2026
Who should invest
This fund may suit investors with a high tolerance for volatility and a longer investment horizon who can stay invested through weak patches. The High Risk label and the negative recent return pattern both point to a product that can behave sharply in the short run.
The trade-off is clear: you are accepting a momentum-led strategy that may outperform at times, but can also lag in choppy periods. Because the benchmark comparison is mixed and the fund has no long public history yet, it is better viewed as a satellite-style equity exposure than as a core, stability-first choice.
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 applies at 0.25% if units are sold on or before 15 days, and there is no exit load after 15 days.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of SBI Nifty200 Momentum 30 Index Fund Direct Growth Plan?
The current NAV is ₹9.439 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 -3.66%, while the 3-year and 5-year returns are Data not available because the scheme is too new for those periods.
How has the fund performed versus its benchmark?
Over 1 year, the fund has done better than the benchmark, with -3.66% versus -8.27%. Over 3 months, it has lagged the benchmark, and over 1 month the gap is smaller.
How does it compare with the peer funds listed here?
Its 1-year return is far below the positive 1-year returns shown by the peer funds in this set. Several peers also have longer return histories that this fund cannot yet match because it has no 3-year or 5-year record.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
What are the key risk and portfolio features?
The fund is in the High Risk category and is managed by Viral Chhadva. Its top holdings are spread across several sectors, with Laurus Labs Ltd. at 5.94% as the largest holding and the top 10 positions accounting for 48.69% of the portfolio.
Bottom line
This fund’s recent return pattern is weak, but its 1-year decline is still less severe than the benchmark’s, which gives it a modest relative cushion. The longer-horizon comparison is limited by the fund’s short history, so the main takeaway is its high-volatility profile rather than a mature track record. The portfolio is spread across 30 holdings, with the visible top positions carrying meaningful but not extreme weights, making it suitable only for investors who are comfortable with sharp swings and can wait through uneven periods.
Published on 16 September 2026 at 6:15 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.