UTI Nifty Midcap 150 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI Nifty Midcap 150 Index Fund Direct Growth Plan has a NAV of ₹10.9688 as of 11 September 2026 and an AUM of ₹79 Cr. Its 1-year, 3-year and 5-year returns are 6.32%, 0% and 0%, and the scheme is tagged as High Risk. Our view is that this is a straightforward midcap index option for investors who want index-style exposure with a small fund size and can accept near-term swings, but the short operating history means the longer-return record is still limited.
The fund’s return profile has been uneven over the recent periods, yet the underlying portfolio can still appeal to investors who want diversified midcap exposure through a rules-based approach. It has a minimum SIP of ₹500, an expense ratio of 0.66%, and no exit load.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.9688 as of 11 Sep 2026 |
| AUM | ₹79 Cr |
| Expense Ratio | 0.66% |
| Launch Date | 28 Nov 2024 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Sharwan Kumar Goyal, Ayush Jain, Lokesh Kulthia |
The fund is managed by Sharwan Kumar Goyal, Ayush Jain and Lokesh Kulthia.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.65% | -4.81% |
| 3M | -1.24% | -3.63% |
| 1Y | 6.32% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The near-term pattern is mixed. Over 1 month, the fund declined, but it still held up slightly better than the benchmark. The 3-month stretch is also negative, though again less weak than the benchmark, which suggests the fund has recently preserved some relative strength even in a soft market backdrop.
The more important point is the 1-year figure. The fund is positive over 1 year while the benchmark remains negative, which tells us the scheme has recovered better over that horizon. That is useful for context, but it should not be mistaken for a long operating record because the fund was launched in late 2024, so 3-year and 5-year return history is not yet available.
Our view is that this is a fund with a short public track record and a volatile recent path, but the one-year outcome does indicate better resilience than the benchmark over the same period. For investors, that means the discussion is less about a proven long-cycle history and more about whether they are comfortable with midcap-linked movement and index replication.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD UTI Nifty Midcap 150 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 UTI Nifty Midcap 150 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI Nifty Midcap 150 Index Fund Direct Growth Plan | 6.32% | Data not available | Data not available |
| 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 1-year returns, the fund trails all five peer funds listed here, which makes the recent comparison look weaker than the broader peer set. The same picture does not extend cleanly to longer horizons because 3-year and 5-year figures are not available for the fund, so there is no mature track record to place against peers with longer histories.
That difference matters. Some peers show strong multi-year figures, especially where a longer return history exists, while this fund’s case rests more on its short-term behaviour and index-linked structure than on a long compounding record. In other words, the peer table tells a story of limited history rather than a completed longer-cycle comparison.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eq – BSE Ltd | Finance | 3.12% |
| Eq – Federal Bank Ltd. | Bank | 2.04% |
| Eq – Multi Commodity Exchange of in | Finance | 2.02% |
| Eq – Laurus Labs Ltd. | Healthcare | 1.73% |
| Eq – One 97 Communications Ltd | IT | 1.68% |
| Eq – Hero Motocorp Ltd. | Automobile & Ancillaries | 1.64% |
| Eq – Coforge Ltd | IT | 1.61% |
| Eq – Indusind Bank | Bank | 1.56% |
| Eq – PB Fintech Ltd | IT | 1.51% |
| Eq – Bharat Heavy Electricals Ltd. | Capital Goods | 1.5% |
The top 10 holdings account for approximately 18.41% of the portfolio.
To see all holdings, visit the UTI Nifty Midcap 150 Index Fund Direct Growth Plan page
The largest holding is BSE Ltd at 3.12%, which is modest rather than dominant for a midcap index portfolio. The step-down from the first holding to the tenth is also gradual, ending at 1.50%, so the visible basket does not look heavily skewed toward a single stock.
That said, the top 10 names together still account for only 18.41% of the portfolio, which means most of the scheme sits beyond the largest visible positions. With 83 holdings disclosed, the structure may spread influence across a wider set of midcap stocks rather than relying on a small cluster of very large weights.
Our view is that this kind of spread can help reduce single-stock dependence, although midcap exposure can still move sharply when the broader segment re-prices. For investors, the key point is that the visible core is reasonably diversified at the top, but the portfolio remains equity-heavy and sensitive to market conditions.
Source data date: as of 11 Sep 2026
Who should invest
This fund suits investors who can handle High Risk exposure and who are comfortable with midcap-style volatility. The 1-year return is positive, but the 1-month and 3-month figures show that the path has been uneven, so the fund fits better as a medium- to long-horizon holding than as a short-term allocation.
The main trade-off is that index-based midcap exposure may offer diversified participation in the segment, but it can also swing more sharply than a broad large-cap style fund. The benchmark comparison suggests the scheme has been resilient in the recent 1-year window, yet the limited history means investors are still accepting a relatively new record in exchange for structured market exposure.
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 11 Sep 2026
Frequently asked questions
What is the current NAV of UTI Nifty Midcap 150 Index Fund Direct Growth Plan?
Its NAV is ₹10.9688 as of 11 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 6.32%, while the 3-year and 5-year returns are not available because the scheme does not yet have those periods of history.
How has the fund performed versus its benchmark?
Over 1 year, the fund has returned 6.32% versus -8.27% for the benchmark. Over 1 month and 3 months, it also held up better than the benchmark, although both periods were negative.
How does it compare with the peer funds listed here?
On 1-year return, the fund is below the peer funds shown here, which all have much stronger recent figures. The comparison is not complete on 3-year and 5-year terms because this scheme does not yet have those return histories.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
What are the fund’s risk and exit-load features?
The scheme is marked High Risk, and it has no exit load. The fund is managed by Sharwan Kumar Goyal, Ayush Jain and Lokesh Kulthia.
Bottom line
UTI Nifty Midcap 150 Index Fund Direct Growth Plan has a mixed but defensible short history: recent returns have been uneven, yet the 1-year figure is better than the benchmark and the portfolio is spread across 83 holdings. The peer set looks stronger on available return data, especially where longer histories exist, while this fund still lacks 3-year and 5-year records. For investors who want midcap index exposure and can live with High Risk behaviour, the fund offers a diversified structure, but the limited track record remains the main constraint.
Published on 16 September 2026 at 8:05 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.