Groww Nifty 500 Momentum 50 ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Groww Nifty 500 Momentum 50 ETF FOF Direct Growth Plan has a NAV of ₹10.5387 as of 15 Sep 2026 and an AUM of ₹10 Cr. Its 1-year, 3-year and 5-year returns are 1.16%, 0% and 0%, and it sits in the High Risk category. Our view is that it looks like a narrow, early-stage fund that has not yet built a long operating history, so the recent return profile matters more than any long-run pattern.

With a low expense ratio and a portfolio that is almost fully invested in a single underlying ETF, the fund may suit investors who understand momentum-driven outcomes and can tolerate sharp swings. It is less compelling for investors who want a steadier benchmark-like path.

Quick facts

Particular	Details
NAV	₹10.5387 as of 15 Sep 2026
AUM	₹10 Cr
Expense Ratio	0.2%
Launch Date	24 Apr 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 30D, Nil after 30D
Fund Managers	Aakash Chauhan, Nikhil Satam, Shashi Kumar

The fund is managed by Aakash Chauhan, Nikhil Satam and Shashi Kumar.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.54%	-4.81%
3M	-1.38%	-3.63%
1Y	1.16%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Recent returns have been choppy, but the fund has held up better than the benchmark over the shorter windows. Over 1 month and 3 months, it still declined, yet the fall was milder than the benchmark’s drop, which suggests the underlying strategy has not been immune to weakness even when relative performance was better.

The 1-year figure is more encouraging than the recent short-term numbers. The fund is still only slightly positive over 1 year while the benchmark remains clearly negative, so the gap is meaningful. That said, the path to that result was uneven, so the headline 1-year outcome does not read like a smooth compounding story.

We do not have a 3-year or 5-year performance history to assess, so the longer-term verdict is limited by the fund’s short operating life. In practical terms, this means investors are looking at a fund whose evidence base is still forming, with recent resilience against the benchmark but not yet enough history to judge how it behaves through a full market cycle.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Groww Nifty 500 Momentum 50 ETF FOF?

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
Groww Nifty 500 Momentum 50 ETF FOF Direct Growth Plan	1.16%	Data not available	Data not available
SBI Silver ETF FOF Direct Growth Plan	81.88%	Data not available	Data not available
Axis Silver FoF Direct Growth Plan	80.07%	45.18%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	79.84%	Data not available	Data not available
HDFC Silver ETF FoF Direct Growth Plan	79.28%	44.7%	Data not available
Kotak Silver ETF FoF Direct Growth Plan	74.67%	44.26%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On available 1-year numbers, the fund is far below the peer set that has benefited from much stronger one-year gains. The gap is also visible where 3-year figures are available, because the peers with longer records have posted materially stronger medium-term outcomes. The short-term comparison and the longer-history comparison therefore tell different stories: the fund has done better than its benchmark recently, but it trails the better-performing peer returns by a wide margin.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Groww Nifty 500 Momentum 50 ETF	Domestic Mutual Funds Units	99.76%

The portfolio is extremely concentrated, with a single disclosed holding that accounts for 99.76% of assets. That makes the underlying ETF the main driver of outcomes, so the fund’s behaviour may track the ETF very closely rather than showing much layer-by-layer diversification at the portfolio level.

Because only one holding is disclosed, there is no visible weight fall-off across a list of positions inside the fund. In effect, the single position is likely to have greater influence than anything else in the portfolio, and the disclosed structure leaves very little room for other holdings to shape returns independently.

With 1 disclosed holding out of 1 total disclosed holding, the portfolio is concentrated rather than spread across a long tail. That concentration may help keep the structure easy to follow, but it also means investors should be comfortable with outcomes being heavily tied to one underlying exposure.

Source data date: as of 15 Sep 2026

Who should invest

This fund may suit investors who can handle High Risk exposure and who are comfortable with a momentum-led return pattern that can move sharply over short periods. The benchmark comparison shows that it has held up better than Nifty 50 in the recent windows, but the absolute return profile is still uneven, which makes patience important.

The main trade-off is between the possibility of improved relative resilience in a rising momentum sleeve and the uncertainty that comes with a young fund and a highly concentrated portfolio. It is better matched to a medium-to-long horizon than to short-term cash needs, and it fits investors who accept that recent strength against the benchmark does not yet amount to a full cycle of evidence.

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: 1% on or before 30D, Nil after 30D

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Groww Nifty 500 Momentum 50 ETF FOF Direct Growth Plan?

The current NAV is ₹10.5387 as of 15 Sep 2026.

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

The fund’s 1-year return is 1.16%, while the 3-year and 5-year returns are Data not available.

How has the fund performed against its benchmark?

It has done better than Nifty 50 in the recent windows shown. Over 1 month, 3 months and 1 year, the fund’s return is less negative or more positive than the benchmark’s return.

How does it compare with the peer funds listed here?

Its 1-year return is much lower than the peer funds shown, and the peer funds with 3-year figures also have materially stronger medium-term performance. The comparison therefore favours the peers on available return data.

Is there a minimum SIP amount?

The minimum SIP amount is ₹100.

What should investors know about risk, portfolio and exit load?

The fund is marked High Risk and its portfolio is almost entirely invested in one disclosed holding. The exit load is 1% on or before 30D and nil after 30D.

Bottom line

This fund’s recent return pattern looks better than the benchmark but remains uneven, and the available peer data points to a much weaker return profile than the comparison set. The structure is highly concentrated, with almost the entire portfolio tied to one disclosed holding, so the underlying ETF is likely to drive most of the outcome. For investors who can accept High Risk exposure and want a momentum-led strategy, it may merit attention; for those seeking a smoother, more established track record, the current evidence is still limited.

Published on 16 September 2026 at 4:13 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.