Angel One Nifty Total Market Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Angel One Nifty Total Market Index Fund Direct Growth Plan currently has a NAV of ₹11.8687 as of 02 Sep 2026 and an AUM of ₹61 Cr. Its 1-year, 3-year and 5-year returns are 3.21%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this is a straightforward index option for investors who want broad market exposure, but the short operating history and uneven recent behaviour mean it still deserves patience.

The fund has been live only since 28 Feb 2025, so the numbers available so far are limited. Against that backdrop, the recent return pattern has been mixed, with short-term swings around a modestly positive 1-year figure. That makes it more suitable for investors who are comfortable with sharp market-linked moves and who can stay invested long enough for the full-market approach to matter.

Quick facts

Particular	Details
NAV	₹11.8687 as of 02 Sep 2026
AUM	₹61 Cr
Expense Ratio	0.28%
Launch Date	28 Feb 2025
Min SIP	₹1,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Kewal Shah

The fund is managed by Kewal Shah.

Source data date: as of 02 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.18%	-3.47%
3M	4.13%	2.17%
1Y	3.21%	-3.84%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent picture is stronger than the benchmark over 3 months and 1 year, but the last month shows a small setback for the fund as well as for the benchmark. That tells us the strategy has participated in the market’s ups and downs rather than moving in a straight line.

Over 3 months, the fund’s 4.13% return is ahead of the benchmark’s 2.17%, which suggests a better short-run stretch even though the path has not been smooth. The 1-month number is negative, but it is less weak than the benchmark over the same window, so the fund has held up somewhat better in the latest drift lower.

The bigger limitation is history. Because the fund is only about a year and a half old, there is no meaningful 3-year or 5-year record yet. That makes the 1-year result useful as a snapshot, but not enough on its own to judge whether the recent outperformance can persist through a full market cycle.

Overall, the evidence so far points to a fund that is broadly tracking market direction with some short-term resilience. Investors should read the recent numbers as an early indication rather than a long record of compounding.

Source data date: as of 02 Sep 2026

Should you BUY or HOLD Angel One Nifty Total Market 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Angel One Nifty Total Market Index Fund Direct Growth Plan	3.21%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	35.19%	29.24%	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	27.51%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	27.23%	Data not available	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	25.82%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	25.81%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the numbers available here, the fund’s 1-year return is far lower than the stronger peer figures, while its 3-month reading is still positive and ahead of the benchmark. The comparison therefore tells two different stories: the short-term trend is not weak, but it has not yet translated into a competitive 1-year record versus the peer set we reviewed. Because the fund has no 3-year or 5-year history yet, longer-horizon peer comparison is not available for this scheme.

Source data date: as of 02 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Limited	Bank	5.46%
ICICI Bank Limited	Bank	4.9%
Reliance Industries Limited	Crude Oil	4.21%
Bharti Airtel Limited	Telecom	2.86%
Larsen & Toubro Limited	Infrastructure	2.2%
State Bank of India	Bank	2.03%
Infosys Limited	IT	1.89%
Axis Bank Limited	Bank	1.68%
Bajaj Finance Limited	Finance	1.46%
Mahindra & Mahindra Limited	Automobile & Ancillaries	1.45%

The top 10 holdings account for approximately 28.14% of the portfolio. To see all holdings, visit the Angel One Nifty Total Market Index Fund Direct Growth Plan page

The largest holding, HDFC Bank Limited, has a weight of 5.46%, so no single stock dominates the disclosed basket. The tenth holding, Mahindra & Mahindra Limited, is at 1.45%, which shows that the visible weights taper off fairly quickly after the first few names. That pattern may reduce dependence on one or two positions, even though the largest names still have the greatest influence.

At 28.14% across the top 10 holdings, the displayed slice is only part of a 37-holding portfolio. That suggests the fund is spread across a wider tail of smaller positions rather than concentrated entirely in the top names. For investors, that mix may help the fund reflect a broader total-market approach, while the biggest constituents can still pull returns around when large-cap movers lead the market.

Source data date: as of 02 Sep 2026

Who should invest

This fund is better suited to investors who can tolerate High Risk volatility and do not need a smooth return path. The 1-year figure is positive, but the 3-month and 1-month moves show that it can still swing meaningfully in the short run.

It fits a longer investment horizon, where the aim is to stay invested through market cycles rather than judge the fund on a few quarters of data. The key trade-off is that you get broad market exposure and low expense ratio pricing, but you must accept benchmark-linked ups and downs and the fact that the fund does not yet have a long track record.

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 02 Sep 2026

Frequently asked questions

What is the current NAV of Angel One Nifty Total Market Index Fund Direct Growth Plan?
The current NAV is ₹11.8687 as of 02 Sep 2026.

How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is 3.21%. The 3-year and 5-year figures are not available because the fund does not yet have that history.

How does the fund compare with the benchmark?
Over 1 month, 3 months and 1 year, the fund has been ahead of the benchmark on the available figures. The 3-month gap is especially noticeable, with the fund at 4.13% versus the benchmark at 2.17%.

How does it compare with the peer funds listed here?
Its 1-year return is well below the stronger peer figures shown in this review, while several peer funds have much higher 1-year numbers. The fund’s 3-year and 5-year figures are not available, so longer-term comparison is not possible yet.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

Who manages the fund, and what is the exit load?
The fund is managed by Kewal Shah. There is no exit load.

Bottom line

Angel One Nifty Total Market Index Fund Direct Growth Plan has shown a better short-term run than its benchmark, especially over 3 months and 1 year, but the path has already been uneven. Compared with the peer set reviewed here, its 1-year return is much weaker, and there is no 3-year or 5-year record yet to judge longer compounding. The portfolio is spread across 37 holdings, with the top 10 accounting for 28.14%, which points to a broad-based market exposure rather than a highly concentrated bet.

Published on 3 September 2026 at 6:59 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.