Baroda BNP Paribas NIFTY Midcap 150 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Baroda BNP Paribas NIFTY Midcap 150 Index Fund Direct Growth Plan has a NAV of ₹11.0083 as of 11 September 2026 and a scheme AUM of ₹10 Cr. Its 1-year, 3-year and 5-year returns are 6.13%, 0% and 0%, and it sits in the High Risk category. Our view is that this is still a relatively early-stage index fund with a short performance history, so the current return picture is more useful for gauging near-term behaviour than for judging a full cycle.

The fund has moved in line with a mid-cap style of investing, which can be volatile, and its portfolio is spread across 83 holdings. That combination suggests it may suit investors who can tolerate sharp swings and want mid-cap exposure through a passive route, rather than those looking for smooth or established long-term compounding.

Quick facts

Particular	Details
NAV	₹11.0083 as of 11 Sep 2026
AUM	₹10 Cr
Expense Ratio	0.39%
Launch Date	04 Nov 2024
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.20% on or before 7D, Nil after 7D
Fund Managers	Neeraj Saxena, Meenakshi Gururaj

The fund is managed by Neeraj Saxena and Meenakshi Gururaj.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.57%	-3.66%
3M	1.23%	-1.91%
1Y	6.13%	-7.62%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Short-term behaviour has been uneven, but the fund has held up better than the benchmark over every available period. In 1 month, the fund still fell, yet the decline was smaller than the benchmark’s drop. Over 3 months and 1 year, the gap widened further because the fund stayed positive while the benchmark remained negative.

That pattern matters because it tells us the fund has been stronger than the benchmark in the most recent stretch, even though the journey has not been smooth. The 1-month series softened before stabilising, and the 3-month and 1-year paths show recovery after earlier weakness. For an index fund in the mid-cap space, that kind of movement is not unusual, but it does mean investors should expect a choppy ride rather than steady monthly gains.

The longer-term picture is limited by the fund’s recent launch, so we do not yet have a true 3-year or 5-year track record. That makes the 1-year number the most meaningful reference point right now. Compared with the benchmark, the fund has been ahead on every available horizon, but the absence of longer history means we would treat that lead as a current condition, not a full-cycle conclusion.

Overall, the available performance pattern suggests a fund that has recovered reasonably well from volatility and has outpaced the benchmark recently, while still leaving the broader long-term case open because the scheme is young.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD Baroda BNP Paribas 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Baroda BNP Paribas NIFTY Midcap 150 Index Fund Direct Growth Plan	6.13%	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. The fund’s 1-year return is well below the peer set shown here, while the peer group contains several strategies that have posted much stronger recent gains. At the same time, the comparison is uneven because the current fund does not yet have a usable 3-year or 5-year record, so the shorter history is the only basis for a direct read on this scheme. That means the near-term story looks weaker than most of the peers displayed, but the longer-term story cannot yet be tested on the same footing.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
BSE Limited	Finance	3.15%
Multi Commodity Exchange of India Limited	Finance	2.08%
The Federal Bank Limited	Bank	2.07%
Laurus Labs Limited	Healthcare	1.72%
One 97 Communications Limited	IT	1.70%
Hero Motocorp Limited	Automobile & Ancillaries	1.67%
Coforge Limited	IT	1.60%
Indusind Bank Limited	Bank	1.58%
PB Fintech Limited	IT	1.52%
AU Small Finance Bank Limited	Bank	1.47%

The top 10 holdings account for approximately 18.56% of the portfolio.

To see all holdings, visit the Baroda BNP Paribas NIFTY Midcap 150 Index Fund Direct Growth Plan page

The largest holding, BSE Limited, stands at 3.15%, which is modest for a single position. The weight then eases down gradually through the list, with the tenth holding at 1.47%, so the gap from first to tenth is present but not extreme. That suggests no single name dominates the visible part of the portfolio.

At the same time, the top 10 holdings together make up 18.56% of the fund, while 83 holdings are disclosed overall. That combination points to a fairly broad spread across many positions, with the long tail likely carrying most of the remaining exposure. In our view, the portfolio may therefore be less dependent on one or two holdings and more shaped by the overall mid-cap basket.

This kind of structure could help reduce idiosyncratic dependence on a single stock, but it may still behave like a mid-cap portfolio, where several positions can move together when the segment is under pressure. For investors, the key point is that the fund appears diversified across many names, yet the visible leaders still have enough weight to influence outcomes.

Source data date: as of 11 Sep 2026

Who should invest

This fund is suited to investors who are comfortable with High Risk and can tolerate sharp swings in a mid-cap allocation. The available return pattern shows a weak short-term stretch against a much stronger 1-year outcome, which means the ride has not been smooth even though the recent recovery has been better than the benchmark. Investors with a medium-to-long horizon and a preference for passive exposure may find that mix acceptable.

The main trade-off is between broader mid-cap upside potential and a choppier path of returns. Because the scheme is young, its longer record is not yet established, so patience matters more than near-term scorekeeping. The portfolio’s spread across many holdings may help reduce dependence on a few names, but it does not remove the inherent volatility of the segment.

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: 0.20% on or before 7D, Nil after 7D.

Source data date: as of 11 Sep 2026

Frequently asked questions

What is the current NAV of Baroda BNP Paribas NIFTY Midcap 150 Index Fund Direct Growth Plan?
The current NAV is ₹11.0083 as of 11 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 6.13%, while the 3-year and 5-year returns are Data not available.

How has this fund performed versus its benchmark?
It has done better than the benchmark across the available periods. Over 1 month, 3 months and 1 year, the fund stayed ahead of the benchmark figures shown.

How does it compare with the peer funds shown here?
Its 1-year return is lower than the peer funds listed here. The peer set includes several schemes with much stronger recent gains, while this fund’s longer-term record is not yet available.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?
The fund is managed by Neeraj Saxena and Meenakshi Gururaj. The exit load is 0.20% on or before 7 days and nil after 7 days.

Bottom line

The fund’s recent recovery is clearer than its longer record, but that longer record is still too short to judge the scheme on a full-cycle basis. Compared with the peer funds shown here, its 1-year return is subdued, while the benchmark comparison has been more favourable. The portfolio is spread across 83 holdings, with the top names carrying modest weights rather than a dominant concentration. That makes it a fit mainly for investors who want mid-cap exposure, accept High Risk, and can stay patient through uneven performance.

Published on 15 September 2026 at 3:39 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.