HDFC Nifty Metal ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

HDFC Nifty Metal ETF FOF Direct Growth Plan is an equity fund with a current NAV of ₹9.7618 as of 17 Sep 2026 and scheme AUM of ₹115 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the risk category is High Risk.

Our view is that this is a very new, concentrated metal-themed fund of funds, so the current track record is too short to judge long-term compounding. The portfolio is almost entirely invested in one underlying ETF, which makes the return path and sector exposure especially important for investors who already understand the cyclical nature of metals.

Quick facts

Particular	Details
NAV	₹9.7618 as of 17 Sep 2026
AUM	₹115 Cr
Expense Ratio	0.0%
Launch Date	06 Aug 2026
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 15D, NIL after 15D
Fund Managers	Nandita Menezes, Arun Agarwal

The fund is managed by Nandita Menezes and Arun Agarwal.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.66%	-3.66%
3M	Data not available	Data not available
1Y	0%	Data not available
3Y	0%	Data not available
5Y	0%	Data not available

The one-month return is mildly negative, but it has held up better than the benchmark over the same period. That tells us the fund has been able to soften part of the recent weakness that has also affected the broader market.

The longer-dated return columns do not yet offer a meaningful compounding picture because the fund launched only in August 2026. For now, the key point is that the scheme is still in its early life stage, so any performance view is mostly a snapshot rather than a durable trend.

Even with the limited history, the recent path does not look dramatically different from the benchmark’s direction. The important distinction is that the fund’s decline has been smaller in the latest month, which may matter to investors who want exposure to metals without simply mirroring the broader index day to day.

For a new fund, we would read the current figures as a starting point rather than a verdict. The absence of a long history means investors should focus more on the structure of the portfolio and the underlying theme than on backward-looking return labels.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD HDFC Nifty Metal 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.

Already holding HDFC Nifty Metal ETF FOF? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

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

Fund	1Y return	3Y return	5Y return
HDFC Nifty Metal ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Kotak Multi Factor Passive FOF Direct Growth Plan	Data not available	Data not available	Data not available
ICICI Pru Multi-Asset Active FOF Direct Growth Plan	Data not available	Data not available	Data not available
Tata Multi Sector Passive FOF Direct Growth Plan	Data not available	Data not available	Data not available
Kotak Diversified Equity All Cap Omni FOF Direct Growth Plan	Data not available	Data not available	Data not available
SBI Nifty Midcap 150 Momentum 50 ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available

On the available numbers, the current fund’s short-term return is not materially different from the peer set because most comparable schemes also have no usable trailing history yet. That makes the comparison more about structure than about past performance.

The main differentiator is the fund’s single-theme design. Several peers appear to be broader multi-factor, multi-asset or diversified FOFs, while this fund is tied to a metal ETF, so its return behaviour is likely to be more closely linked to one sector cycle. In that sense, the short-term comparison does not create a clear performance edge, but it does highlight a very different exposure profile.

For investors, that means the peer table is better read as a way to understand positioning than as a way to separate leaders from laggards. A narrow theme can behave differently from broader FOFs even when current trailing figures are similarly limited.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC NIFTY METAL ETF	Domestic Mutual Funds Units	99.66%

The portfolio is extremely concentrated because one holding accounts for 99.66% of assets. That means the fund’s day-to-day outcome is likely to be driven mainly by the underlying ETF rather than by a spread of different securities.

With only one disclosed holding, there is no gradual step-down from the largest position to a long tail of smaller positions. Instead, the structure is effectively single-line, which may make the fund easier to understand but also means there is very little diversification inside the scheme itself.

The disclosed holding count is 1, and the full disclosed exposure sits in that one line. In our view, that concentration could make the fund more sensitive to the specific market phase of metals, so investors need to be comfortable with a focused allocation before considering it.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and who want a narrow thematic exposure rather than a broad market approach. The short history means the 1-year, 3-year and 5-year figures do not yet provide a durable record, so the larger decision is whether the metal theme itself fits the portfolio.

It is more appropriate for a longer horizon and for investors who understand that theme-led returns can move differently from the broader benchmark. The key trade-off is concentration: the fund may give targeted exposure to metals, but it also leaves very little room for diversification inside the scheme.

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 15 days; nil after 15 days.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of HDFC Nifty Metal ETF FOF Direct Growth Plan?

The current NAV is ₹9.7618 as of 17 Sep 2026. It is the latest visible price point for the scheme in this review.

What are the fund’s recent returns?

The fund’s 1-month return is -1.66%, while the 1-year, 3-year and 5-year return fields are not yet meaningful for a scheme launched in August 2026. The return profile is therefore still very limited.

How does the fund compare with its benchmark?

Over 1 month, the fund has done better than the benchmark, which was at -3.66%. That suggests it has been less weak than the broader market in the latest period available.

What is the minimum SIP amount?

The minimum SIP amount is ₹100. That keeps the entry point low for investors who want to start with a small amount.

How concentrated is the portfolio?

The portfolio is highly concentrated, with one disclosed holding at 99.66% weight. That means the scheme is almost entirely exposed to the underlying HDFC Nifty Metal ETF.

Who manages the fund and what is the exit load?

The fund is managed by Nandita Menezes and Arun Agarwal. The exit load is 1% on or before 15 days and nil after 15 days.

Bottom line

This is a very new, narrowly focused thematic FOF, so the current return record is too short to stand as a long-term performance test. The latest month is less weak than the benchmark, but the real story is the structure: one underlying ETF, one disclosed holding, and a High Risk profile. That makes it a fund for investors who understand sector-driven swings and are comfortable with a concentrated metals exposure rather than a diversified core holding.

Published on 18 September 2026 at 8:21 AM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.