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

Bandhan Nifty Alpha 50 Index Fund Direct Growth Plan has a NAV of ₹14.5041 as of 17 September 2026 and an AUM of ₹628 Cr. Its 1-year, 3-year and 5-year returns are 5.22%, 0% and 0%, and the scheme is tagged as High Risk. In our view, this is a fund for investors who are comfortable with sharp swings and want a differentiated equity index strategy rather than a smooth, defensive return path.

The portfolio is tilted toward a relatively small set of names at the top, and that can make performance more uneven over shorter stretches. The recent return pattern has been better than the benchmark, but the longer window is still very short because the scheme launched in November 2023.

Quick facts

Particular	Details
NAV	₹14.5041 as of 17 Sep 2026
AUM	₹628 Cr
Expense Ratio	0.34%
Launch Date	09 Nov 2023
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Abhishek Jain, Mayuresh Nagvekar

The fund is managed by Abhishek Jain and Mayuresh Nagvekar.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.4%	-3.66%
3M	2.2%	-3.71%
1Y	5.22%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term pattern is better than the benchmark. The fund was down in the latest month, but the decline was smaller than the benchmark’s fall, which matters because it shows relatively better resilience in a weak patch.

Over three months, the fund has turned positive while the benchmark is still negative. That suggests the scheme has recovered more effectively than the broad benchmark in the recent quarter, even though the path has not been smooth.

The one-year figure is the clearest point of strength: 5.22% versus -7.13% for the benchmark. Since the scheme has been live only since November 2023, the 3-year and 5-year figures are not available, so the longer-term judgement has to rest on the live history and the recent trajectory rather than a full market cycle.

From the pattern in the movement history, we see a fund that has had drawdowns and rebounds rather than a steady climb. That is consistent with a high-risk strategy and helps explain why investors need to be comfortable with short-run volatility even when the recent year has been ahead of the benchmark.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Bandhan Nifty Alpha 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
Bandhan Nifty Alpha 50 Index Fund Direct Growth Plan	5.22%	Data not available	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.

The fund’s 1-year return is well below the stronger peer numbers shown here, while the peer set also includes several strategies with much higher recent gains. That said, the comparison is not one-sided because the current fund has only a short track record and its recent return has still exceeded the benchmark. On the longer side, the available peer data again points to stronger outcomes in some funds that have a longer record, especially where 3-year figures are available.

So the short-term comparison and the limited longer-term comparison tell different stories. Relative to the peer set, the current fund has been more modest on returns, but it has still held up better than the benchmark in the recent period.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Ather Energy Limited	Domestic Equities	7.12%
Laurus Labs Limited	Healthcare	4.01%
Multi Commodity Exchange of India Limited	Finance	3.83%
Acutaas Chemicals Limited	Healthcare	3.57%
National Aluminium Company Limited	Non – Ferrous Metals	3.48%
Hindustan Copper Limited	Non – Ferrous Metals	3.36%
Vedanta Limited	Non – Ferrous Metals	2.91%
Vodafone Idea Limited	Telecom	2.87%
Ge Vernova T&D India Limited	Capital Goods	2.75%
Adani Power Limited	Power	2.66%

The top 10 holdings account for approximately 36.56% of the portfolio.

To see all holdings, visit the Bandhan Nifty Alpha 50 Index Fund Direct Growth Plan page

Ather Energy Limited is the largest disclosed holding at 7.12%, which is large enough to matter but not so dominant that it defines the whole fund on its own. The next few positions step down fairly quickly into the 4% to 3% range, and by the tenth holding the weight has fallen to 2.66%, so influence is spread across several names rather than resting on one stock alone.

Even so, the top 10 holdings still account for 36.56% of the portfolio, which indicates a meaningful concentration at the top of the book. With 50 disclosed holdings overall, the portfolio may still have a long tail beyond the first ten positions, but the larger weights at the top are likely to have greater influence on short-run fund behaviour.

This kind of structure can work well when the heavier positions perform, but it can also increase day-to-day variability. For investors, the key point is that the fund is not a broad, evenly spread market tracker; it has a more selective holding pattern inside the 50-stock basket.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who can tolerate high volatility and are comfortable with a differentiated equity index approach. The recent 1-year figure is positive and ahead of the benchmark, but the shorter history and uneven month-to-month movement mean it is better viewed as a higher-variation equity holding rather than a steadier core allocation.

We think it fits investors with a longer horizon who are prepared for swings and who can accept that the portfolio’s top weights may drive outcomes more than a plain broad-market index would. The main trade-off is that the fund may capture stronger rebounds in favourable stretches, but it can also move sharply in weaker ones.

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 17 Sep 2026

Frequently asked questions

What is the current NAV of Bandhan Nifty Alpha 50 Index Fund Direct Growth Plan?
The current NAV is ₹14.5041 as of 17 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 5.22%, while the 3-year and 5-year returns are Data not available because the scheme has a short live history.

How has the fund performed against Nifty 50 recently?
It has been ahead of Nifty 50 over 1 month, 3 months and 1 year. The fund’s recent numbers are 5.22% over 1 year versus -7.13% for the benchmark.

How does it compare with peer funds on recent returns?
Its 1-year return is lower than several peer funds shown in the comparison, including funds with 17% to 29% one-year gains. The shorter track record also means the longer-term comparison is limited.

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 Abhishek Jain and Mayuresh Nagvekar. The exit load is No exit load.

Bottom line

Bandhan Nifty Alpha 50 Index Fund Direct Growth Plan has shown a better recent return pattern than its benchmark, but the track record is still short and the longer view is not yet fully built out. In the peer set, the fund’s recent return is more modest than several alternatives, while its portfolio shows a noticeable top-weight concentration without being dominated by a single position. The fund therefore looks best suited to investors who can handle High Risk exposure and are comfortable with uneven short-term movement.

Published on 18 September 2026 at 10:28 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.