Tata Nifty Capital Markets Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Tata Nifty Capital Markets Index Fund Direct Growth Plan is an index fund with a High Risk profile. Its NAV is ₹14.6243 as of 11 Sep 2026, and the scheme AUM stands at ₹979 Cr. The fund’s 1-year, 3-year and 5-year returns are 25.91%, 0% and 0%, respectively.
Our view is that this is a focused thematic index fund for investors who can handle sharp swings and want exposure to capital-markets businesses. The recent return profile is stronger than the benchmark over the same period, but the portfolio is concentrated in a small set of holdings, so the ride can be uneven.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹14.6243 as of 11 Sep 2026 |
| AUM | ₹979 Cr |
| Expense Ratio | 0.51% |
| Launch Date | 24 Oct 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 15D |
| Fund Managers | Nitin Sharma, Rakesh Prajapati |
The fund is managed by Nitin Sharma and Rakesh Prajapati.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 1.02% | -3.66% |
| 3M | -2.44% | -1.91% |
| 1Y | 25.91% | -7.62% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The short-term pattern is mixed. Over 1 month, the fund stayed positive while the benchmark slipped, which suggests the portfolio held up better in the latest stretch. Over 3 months, both moved lower, but the fund fell a little more than the benchmark, so the recent run has not been smooth.
The 1-year figure is the clear standout. The fund’s 25.91% return is well ahead of the benchmark’s -7.62%, which points to a strong one-year outperformance gap. That said, this is a young scheme launched in October 2024, so the available return history is short and does not yet offer a full market cycle.
The 1-year multiplier pattern also shows that gains have not come in a straight line. There were several pauses and drawdowns before the stronger finish, which is typical of a narrow thematic index exposure. For investors, that means the fund can participate in sharp upswings, but the journey can still be choppy when the underlying segment cools off.
Because the benchmark is Nifty 50, the comparison is useful mainly as a broad market reference rather than a like-for-like sector match. On the available data, the fund has been ahead over 1 year, but the shorter windows remind us that near-term movement can diverge materially from the broader market trend.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD Tata Nifty Capital Markets 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 Tata Nifty Capital Markets Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 32.61% | 29.92% | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 26.23% | Data not available | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 26.22% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 26.18% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 25.91% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On a 1-year basis, the fund is close to the capital-markets peer set and only slightly behind the nearby defence and capital-market alternatives listed here. The stronger 1-year figure still needs to be weighed against the fact that longer-period figures are not yet available for this scheme, which makes the comparison more about early momentum than about cycle-tested resilience.
Among the peers with longer history, the ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan has both a stronger 1-year figure and a meaningful 3-year record. That contrast matters because it shows the current fund’s appeal is more concentrated in recent performance rather than in a longer evidence base.
Overall, the peer set tells two stories at once: the fund is competitive on the recent number, but its lack of longer-period data means investors are still looking through a short lens.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Multi Commodity Exchange of Ind Ltd | Finance | 19.72% |
| BSE Ltd | Finance | 16.87% |
| HDFC Asset Management Company Ltd | Finance | 12.16% |
| 360 One Wam Ltd | Finance | 6.92% |
| Central Depository Services (India) Ltd | Business Services | 5.68% |
| Nippon Life India Asset Management Ltd | Finance | 4.78% |
| Anand Rathi Wealth Ltd | Finance | 4.48% |
| Computer Age Management Services Ltd | Business Services | 4.27% |
| Angel One Ltd | Finance | 4.24% |
| Motilal Oswal Financial Service Ltd | Finance | 3.71% |
The top 10 holdings account for approximately 82.83% of the portfolio.
To see all holdings, visit the Tata Nifty Capital Markets Index Fund Direct Growth Plan page
At 19.72%, the largest holding is sizeable on its own and is likely to have a noticeable impact on day-to-day movements. The next few positions also remain heavy, with 16.87% and 12.16% following close behind, so the portfolio begins with a fairly steep drop from the first holding to the tenth.
That pattern suggests the fund is not evenly spread across its disclosed leaders. Instead, the top positions carry most of the weight, and the combined 82.83% share of the top 10 holdings indicates that a relatively small group of names may drive much of the portfolio’s behaviour.
With 17 disclosed holdings overall, there is a longer tail beyond the top 10, but the visible structure still looks concentrated. That concentration may amplify both the upside and the downside when the capital-markets segment moves sharply.
Source data date: as of 11 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk and who are comfortable with a sector-style index fund rather than a broad market core holding. The strongest fit is for a longer horizon, because the available history is short and the return pattern has already shown unevenness over shorter windows.
The trade-off is clear: the fund has recently outperformed the benchmark over 1 year, but its short-term path has been choppy and the portfolio is concentrated. Investors who want focused exposure to capital-markets businesses may appreciate that setup, while those seeking steadier all-weather returns may find the swings too wide.
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 15 days; no exit load after that holding period.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of Tata Nifty Capital Markets Index Fund Direct Growth Plan?
The NAV is ₹14.6243 as of 11 Sep 2026.
How has the fund performed over 1 year?
It has returned 25.91% over 1 year, while the benchmark has returned -7.62% over the same period.
What are the fund’s 3-year and 5-year returns?
The 3-year return is 0% and the 5-year return is 0% in the available record, which means longer-period performance is not available for review here.
How does the fund compare with its peer funds?
Its 1-year return of 25.91% is close to the other capital-markets and defence-themed funds listed, while the ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan has a higher 1-year figure and a longer 3-year record.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Nitin Sharma and Rakesh Prajapati. The exit load is 0.25% if units are sold on or before 15 days, and there is no exit load after that period.
Bottom line
This fund’s recent return profile is stronger than its benchmark, but the shorter-term path has been uneven and the longer-period record is not yet available. In the peer set, it looks competitive on the 1-year figure, though some peers have more history to judge. The risk profile is High Risk, and the portfolio is concentrated in a handful of capital-markets names, which can make outcomes more volatile. It is best viewed as a focused exposure for investors who understand the trade-off between sharp upside and a choppy ride.
Published on 15 September 2026 at 3:23 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.