Axis Nifty500 Momentum 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis Nifty500 Momentum 50 Index Fund Direct Growth Plan is valued at ₹11.2802 as of 18 Sep 2026, with scheme assets of ₹179 Cr. Its 1-year, 3-year and 5-year returns are 3.7%, 0% and 0% respectively, and the scheme sits in the High Risk category. Our view is that this is a fund for investors who can tolerate sharp swings and want a momentum-led index strategy, but the recent return profile still looks modest relative to its benchmark behaviour.

The fund may appeal more to investors who want a tactical equity allocation than to those expecting stable compounding. The portfolio is concentrated enough for a 41-holding strategy to matter, and the top positions can meaningfully influence outcomes, which is consistent with the fund’s High Risk label.

Quick facts

Particular	Details
NAV	₹11.2802 as of 18 Sep 2026
AUM	₹179 Cr
Expense Ratio	0.15%
Launch Date	13 Feb 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.25% on or before 15D, Nil after 15D
Fund Managers	Nandik Mallik, Rohit Gautam

The fund is managed by Nandik Mallik and Rohit Gautam.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.25%	-3.73%
3M	0.18%	-3.14%
1Y	3.7%	-5.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The fund has held up better than its benchmark over the short windows shown. Over 1 month and 3 months, it stayed close to flat or mildly positive while the benchmark was still negative, which suggests the strategy has been less sensitive to the same recent drawdown than the broad index.

The 1-year figure also shows a clearer edge over the benchmark, even though the return itself is still moderate. That matters because the path has not been smooth: the movement pattern over the past year shows several pullbacks before recovery, so the result is not coming from a straight upward trend.

For a momentum index strategy, that uneven path is important. Momentum approaches often move sharply when leadership changes, and this fund’s recent pattern reflects that risk. At the same time, the shorter-term improvement relative to the benchmark suggests the strategy has recently been positioned more effectively than the broad market reference.

We would read the performance as stronger in the recent window than the benchmark, but still too short a track record to draw comfort from longer-term compounding. The fund does not yet have 3-year or 5-year return history, so the evidence is mainly about how it has behaved since launch and in the most recent market phases.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Axis Nifty500 Momentum 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 Nifty500 Momentum 50 Index Fund Direct Growth Plan	3.7%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	31.6%	30.84%	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	21.44%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	21.24%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.45%	19.9%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Against the comparison set shown here, the fund’s 1-year return is far lower than the higher-growth peer strategies that have benefited from stronger momentum in their own universes. That does not make the fund weak in absolute terms, but it does mean the recent return profile has been restrained relative to several comparable index funds.

The 3-year and 5-year columns are less useful for the current fund because those figures are not available, while some peers do show longer histories. Where longer history is available for peers, the comparison again tilts away from the current fund on raw return levels. The short-term and longer-term pictures therefore tell different stories: the current fund has been steadier than its benchmark recently, but the peer set includes funds with much stronger reported return histories.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Multi Commodity Exchange of India Limited	Finance	5.7%
Laurus Labs Limited	Healthcare	5.63%
Shriram Finance Limited	Finance	5.19%
Hindalco Industries Limited	Non – Ferrous Metals	4.96%
Cummins India Limited	Automobile & Ancillaries	4.38%
Ge Vernova T&D India Limited	Capital Goods	4.19%
Adani Power Limited	Power	4.11%
BSE Limited	Finance	4.02%
The Federal Bank Limited	Bank	3.76%
Bharat Heavy Electricals Limited	Capital Goods	3.46%

The top 10 holdings account for approximately 45.4% of the portfolio.

To see all holdings, visit the Axis Nifty500 Momentum 50 Index Fund Direct Growth Plan page

The largest holding is 5.7%, which is meaningful but not extreme for a 10-stock snapshot. The drop from the first holding to the tenth is moderate, with weights easing from 5.7% to 3.46%, so the visible part of the portfolio is spread across several names rather than dominated by one position.

That said, the top 10 holdings already make up about 45.4% of the portfolio, so the rest of the 41 disclosed holdings must carry the remaining weight across a longer tail. This suggests the scheme may still be influenced by a handful of positions, even though the disclosed list is broad enough to avoid a single-stock dependency.

For an index strategy built around momentum, that structure matters. The more prominent holdings are likely to have greater influence on short-term outcomes, while the rest of the portfolio may help distribute risk across sectors such as finance, healthcare, capital goods and power. The overall shape looks moderately concentrated rather than fully diffuse.

Source data date: as of 18 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and are comfortable with a strategy that may move sharply as market leadership changes. The benchmark comparison and the recent return pattern both point to a fund that has done better than the broad index in the most recent periods, but without the comfort of a long operating history.

The best fit is likely a medium- to long-term investor who understands that momentum-based index investing can lag when market themes rotate. The main trade-off is between the possibility of capturing stronger trend-driven periods and the risk of uneven swings when those trends fade.

The portfolio structure also matters: the top holdings carry enough weight to influence outcomes, so investors need to accept that short-term results may depend on a relatively small set of names. For someone seeking a higher-risk equity sleeve rather than a low-volatility core holding, that trade-off may be acceptable.

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

The exit load is 0.25% if units are sold on or before 15 days, and it is nil after 15 days.

Source data date: as of 18 Sep 2026

Frequently asked questions

What is the current NAV of Axis Nifty500 Momentum 50 Index Fund Direct Growth Plan?

The current NAV is ₹11.2802 as of 18 Sep 2026.

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

The 1-year return is 3.7%, while the 3-year and 5-year returns are not available yet.

How has the fund performed against its benchmark?

It has outpaced the Nifty 50 over the recent periods shown, including 1 month, 3 months and 1 year. The benchmark figures are negative in those periods, while the fund has stayed slightly positive to moderately positive.

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

Its 1-year return is well below several of the peer funds shown, while its longer-history figures are not available yet. Some peers also have much stronger 3-year figures where those are available.

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 Nandik Mallik and Rohit Gautam. The exit load is 0.25% if units are sold on or before 15 days, and nil after 15 days.

Bottom line

Axis Nifty500 Momentum 50 Index Fund Direct Growth Plan has shown a recent return path that is better than its benchmark, but the fund still lacks a long history for deeper compounding assessment. Against the peer set shown here, the 1-year figure is noticeably lower, while the risk profile remains High Risk. The portfolio is fairly concentrated in its leading positions, so short-term outcomes may depend heavily on a smaller group of holdings. That makes it more suitable for investors who can accept higher volatility in exchange for a momentum-led equity approach.

Published on 21 September 2026 at 9:30 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.