Groww Nifty Capital Markets ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Groww Nifty Capital Markets ETF FOF Direct Growth Plan is an early-stage equity fund with a NAV of ₹11.3779 as of 18 Sep 2026 and scheme AUM of ₹20 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk category. Our view is that this is a niche, concentrated allocation that suits investors who can tolerate sharp swings and want exposure to the capital-markets theme rather than a broad market-style track record.

The fund has no long performance history yet, and the available near-term numbers have moved around more than the benchmark. That makes it more appropriate for investors who can wait through volatility and are comfortable with a fund whose current footprint is still small.

Quick facts

Particular	Details
NAV	₹11.3779 as of 18 Sep 2026
AUM	₹20 Cr
Expense Ratio	0.0%
Launch Date	04 Dec 2025
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	No exit load
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 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.65%	-3.73%
3M	-4.3%	-3.14%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern has been choppy rather than steady. Over 1 month, the fund slipped less than the benchmark, which tells us the drawdown was comparatively contained. Over 3 months, though, the fund declined more than the benchmark, so the short-term picture is mixed rather than clearly stronger.

Because the fund was launched only in December 2025, longer-horizon return figures are not yet available. That absence matters: investors cannot use a full market cycle to judge how the strategy behaves when the theme moves from favour to weakness. For now, the available data points to a fund that can track the theme, but without a mature record to show how it handles different market phases.

The daily path also suggests uneven movement rather than a clean upward trend. In practice, that means investors should expect this fund to behave more like a thematic allocation than a core holding. Its short-run swings are important because the scheme is still building a track record while the benchmark has also been soft, so relative moves matter as much as absolute returns.

On the benchmark comparison, the fund has been ahead over 1 month but behind over 3 months. That split does not support a simple one-direction conclusion. Instead, it points to a young scheme whose behavior is still settling, and whose near-term performance needs to be read with caution.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Groww Nifty Capital Markets 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 Capital Markets ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Groww Nifty Capital Markets ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The peer set available here does not provide a usable spread of return data, so the comparison is limited to the figures that are available in the current fund record. That means the main takeaway comes from the fund’s own short-term behaviour: it has shown mixed recent movement and no long history to lean on.

The shorter-term comparison and the missing longer-term numbers tell different stories. The short end shows a fund that can be better than the benchmark in one window and weaker in another, while the longer end cannot yet be assessed. That combination makes the scheme look more like an early-stage thematic allocation than a proven multi-cycle product.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Groww Nifty Capital Markets ETF	Domestic Mutual Funds Units	100.02%

The portfolio is fully concentrated in a single holding, which is the Groww Nifty Capital Markets ETF. At 100.02%, that position is effectively the entire disclosed exposure, so the fund’s day-to-day outcome may be heavily shaped by this one underlying vehicle.

Because there is only one disclosed holding, there is no weight fall-off from the first position to a tenth position. That also means the portfolio has no visible tail of smaller names to soften the impact of the main position. In a structure like this, the thematic exposure is direct and the portfolio construction is simple.

The disclosed holdings count is 1, and the displayed weight adds up to the full disclosed portfolio. That points to very high concentration rather than diversification across multiple securities. For investors, the key implication is that the fund may move closely with the performance of the single underlying ETF holding.

Source data date: as of 18 Sep 2026

Who should invest

This fund suits investors who can handle High Risk exposure and who are comfortable with a thematic allocation that does not yet have a full multi-year record. The available return pattern shows short-term unevenness, and the benchmark comparison also changes from one window to another, so the fund needs a patient horizon rather than a short holding period.

The main trade-off is between theme-specific exposure and portfolio stability. The single-holding structure may offer a focused play on the capital-markets theme, but it also means the fund may be more sensitive to movement in that one underlying exposure. Investors who prefer smoother, more diversified participation may find that trade-off too sharp.

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 applies if units are sold anytime.

Source data date: as of 18 Sep 2026

Frequently asked questions

What is the current NAV of Groww Nifty Capital Markets ETF FOF Direct Growth Plan?
The current NAV is ₹11.3779 as of 18 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available.

How has the fund done versus the benchmark?
Over 1 month, it has done better than the benchmark, while over 3 months it has done worse. The available windows therefore show mixed short-term behavior rather than a single consistent trend.

What is the risk category of this fund?
The fund is in the High Risk category. It is better suited to investors who can accept sharp swings and a thematic style of exposure.

What does the portfolio look like?
The portfolio is concentrated in one disclosed holding: Groww Nifty Capital Markets ETF, at 100.02%. That means the fund’s exposure is highly focused.

What tax and exit load rules apply?
Units held for less than 1 year face a 20% short-term capital gains tax, while units held for more than 1 year face a 12.5% long-term capital gains tax. No exit load applies if units are sold anytime.

Bottom line

Groww Nifty Capital Markets ETF FOF Direct Growth Plan is a young, highly concentrated fund with mixed short-term behavior and no long return history yet. It has been ahead of the benchmark in one recent window and behind in another, so the current picture is uneven rather than decisive. The High Risk label fits the concentrated single-holding structure, which may appeal to investors looking for focused thematic exposure. It is best viewed as a niche allocation for investors who can tolerate volatility and wait for the record to mature.

Published on 21 September 2026 at 11:35 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.