Axis Nifty Next 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis Nifty Next 50 Index Fund Direct Growth Plan is at ₹17.4924 as of 16 Sep 2026, with scheme AUM of ₹548 Cr. Its 1-year, 3-year and 5-year returns are 2.72%, 15.71% and 0% respectively, and the fund sits in the High Risk bucket. In our view, the appeal here is not a smooth near-term track record but a rules-based exposure to a broader Nifty Next 50 basket, which can lead to meaningful swings over shorter periods.

The current return pattern suggests that this is better suited to investors who can tolerate sharp month-to-month movement and are willing to hold through uneven stretches. The portfolio is also reasonably concentrated in its largest positions, so returns may depend heavily on a relatively small set of holdings even within an index framework.

Quick facts

Particular	Details
NAV	₹17.4924 as of 16 Sep 2026
AUM	₹548 Cr
Expense Ratio	0.15%
Launch Date	28 Jan 2022
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Nandik Mallik, Rohit Gautam

The fund is managed by Nandik Mallik and Rohit Gautam.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.49%	-4.41%
3M	-2.32%	-3.6%
1Y	2.72%	-7.76%
3Y	15.71%	5.74%
5Y	Data not available	Data not available

Recent behaviour has been uneven, with the fund still negative over the latest month and quarter. That tells us the short end of the journey has not been stable, even though the 1-year return turned positive.

Over 3 years, the fund has compounded at 15.71%, which is materially stronger than the benchmark's 5.74% for the same period. That gap matters because it shows the fund has done better than the benchmark in a multi-year holding window, even though the benchmark itself has moved through a weak patch in the shorter comparisons.

The 1-year figure is also interesting because the fund stayed in positive territory while the benchmark was negative over the same horizon. Our read is that the fund's recent trajectory is better than the benchmark's, but it has still not delivered a smooth line upward. The time pattern points to periods of recovery followed by renewed weakness, which is consistent with a volatile next-50 style exposure rather than a defensive profile.

Because the 5-year return is not available, we would avoid drawing long-horizon conclusions beyond the 3-year history. The more reliable takeaway is that the fund has outpaced the benchmark on the available multi-year comparison, but the latest monthly and quarterly moves show that near-term volatility remains part of the experience.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Axis 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Axis Nifty Next 50 Index Fund Direct Growth Plan	2.72%	15.71%	Data not available
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.

Compared with the peer set, the fund's 1-year return is far lower than the stronger figures in the table. The same pattern shows up over 3 years, where it trails the better-compounding peer funds that have available long-run data. So, on the available return figures, the fund looks weaker on recent performance than several peers and also behind the stronger multi-year peer results.

That said, the comparison is not one-sided. The fund's 3-year return is still comfortably above the benchmark return shown in the performance section, so the fund has added value versus its benchmark even while lagging some peers. In our view, the short-term peer comparison and the longer-term comparison tell different stories: relative to peers, the fund looks modest on return; relative to its benchmark, it has been ahead over the available multi-year window.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Divi'S Laboratories Limited	Healthcare	4.74%
TVS Motor Company Limited	Automobile & Ancillaries	4.01%
Tata Motors Ltd	Domestic Equities	3.87%
Hindustan Aeronautics Limited	Capital Goods	3.59%
Adani Power Limited	Power	3.23%
Cholamandalam Investment and Finance Company Ltd	Finance	3.16%
Samvardhana Motherson International Limited	Automobile & Ancillaries	2.97%
Torrent Pharmaceuticals Limited	Healthcare	2.92%
Cummins India Limited	Automobile & Ancillaries	2.71%
Bharat Petroleum Corporation Limited	Crude Oil	2.58%

The largest holding is Divi'S Laboratories Limited at 4.74%, which is meaningful but not excessive on its own. The drop from the first holding to the tenth is fairly gradual, ending at 2.58%, so the top layer is spread across several names rather than being dominated by a single position.

The top 10 holdings account for approximately 33.78% of the portfolio, which suggests the disclosed sleeve is diversified but still leaves room for a long tail beyond the largest names. Because the fund holds 50 positions in total, the remaining holdings may still matter, but the biggest names are likely to have greater influence on short-term movement than the smaller positions.

In our view, this is a portfolio structure that may reduce single-stock dependence while still allowing the larger holdings to shape outcomes. The combination of a moderate top-10 weight and a 50-holding universe points to a spread that is not overly concentrated, yet not so broad that the biggest positions lose significance.

To see all holdings, visit the Axis Nifty Next 50 Index Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund is more suitable for investors who can handle High Risk exposure and are comfortable with a volatile path. The 3-year return has been strong relative to the benchmark, but the latest 1-month and 3-month numbers show that near-term drawdowns can still happen.

A longer investment horizon is important here. The return pattern suggests this is not a smooth, low-variation holding, so short-term expectations may be disappointed even when the broader multi-year picture looks better.

The main trade-off is straightforward: you are accepting more fluctuation in exchange for exposure that has beaten the benchmark on the available longer comparison. That makes the fund more relevant for investors who can wait through uneven stretches and do not need the portfolio to behave defensively.

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 16 Sep 2026

Frequently asked questions

What is the current NAV of Axis Nifty Next 50 Index Fund Direct Growth Plan?

The current NAV is ₹17.4924 as of 16 Sep 2026.

What are the fund's 1-year, 3-year and 5-year returns?

The fund's 1-year return is 2.72%, its 3-year return is 15.71%, and its 5-year return is not available.

How has the fund performed against its benchmark?

It has done better than the benchmark over the available 1-year and 3-year comparisons. The benchmark return is -7.76% for 1 year and 5.74% for 3 years.

How does the fund compare with the peer funds shown here?

The fund's return is lower than several peer funds on the 1-year comparison, and its 3-year return is also below the stronger peer figures that have long-run data available. At the same time, it still has outperformed the benchmark over the available longer comparison.

Is there a minimum SIP amount?

Yes, the minimum SIP amount is ₹100.

What are the risk level, portfolio focus and exit load?

The fund is in the High Risk category. Its largest holding is Divi'S Laboratories Limited at 4.74%, and there is no exit load.

Bottom line

Axis Nifty Next 50 Index Fund Direct Growth Plan has shown a stronger 3-year return profile than its benchmark, but its recent 1-month and 3-month numbers show that the ride can still be uneven. Against peers with available figures, the return picture is less impressive, especially on the 1-year comparison. The portfolio is spread across 50 holdings, with the largest names carrying moderate but meaningful weight, so the fund is not reliant on a single position. It fits investors who can accept High Risk exposure and hold patiently through volatility.

Published on 17 September 2026 at 1:11 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.