Kotak Nifty 200 Momentum 30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Nifty 200 Momentum 30 Index Fund Direct Growth Plan currently has a NAV of ₹14.4 as of 17 Sep 2026 and an AUM of ₹601 Cr. Its 1-year, 3-year and 5-year returns are -3.93%, 9.2% and 0%, and the scheme is tagged as High Risk. Our view is that this is a momentum-oriented equity index strategy that has shown a mixed near-term profile, with a weak one-year outcome but a steadier 3-year record.

The fund can suit investors who are comfortable with sharp swings and want exposure to a concentrated momentum basket rather than a smooth defensive equity profile. The current portfolio mix and the return pattern both point to a fund that may work better as a satellite allocation with a longer horizon than as a core stability holding.

Quick facts

Particular	Details
NAV	₹14.4 as of 17 Sep 2026
AUM	₹601 Cr
Expense Ratio	0.29%
Launch Date	15 Jun 2023
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar

The fund is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.11%	-3.66%
3M	-3.52%	-3.71%
1Y	-3.93%	-7.13%
3Y	9.2%	5.82%
5Y	Data not available	Data not available

Recent performance has been weak in absolute terms, with both the 1-month and 3-month figures staying negative. Even so, the fund has held up slightly better than the benchmark in the short run, which tells us the decline has been milder than the broader reference index.

The 1-year return is still negative, but it is less poor than the benchmark’s 1-year decline. That points to a relative cushion rather than a strong absolute outcome. For investors, the important distinction is that the fund has not escaped volatility; it has only fallen somewhat less than the benchmark over the same period.

The 3-year picture is more constructive. The fund’s 3-year return is positive and also ahead of the benchmark, which suggests that the strategy has rewarded patience over a longer holding period. The gap between the recent one-year weakness and the stronger 3-year figure shows that momentum-led exposure can go through difficult stretches before a longer trend becomes visible.

The 5-year figure is not available in a meaningful sense for this scheme, which is still relatively young. That means the clearest read comes from the 1-year and 3-year blocks: weaker near-term behavior, but a better longer-run compounding pattern than the benchmark.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Kotak Nifty 200 Momentum 30 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
Kotak Nifty 200 Momentum 30 Index Fund Direct Growth Plan	-3.93%	9.2%	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 current fund’s 1-year return is far below the strongest peer figures shown here, so the recent comparison is clearly soft. The longer view is more mixed: its 3-year return is positive and better than the two peer funds that have no 3-year figure available, but it still trails the stronger multi-year returns visible in the peer set. The short-term and longer-term stories are therefore different, which is typical of a momentum-style strategy that can move through sharp cycles.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Laurus Labs Ltd	Healthcare	5.95%
Multi Commodity Exchange of India Limited	Finance	5.86%
Shriram Finance Limited	Finance	5.33%
Hindalco Industries Ltd.	Non – Ferrous Metals	5.09%
Tata Steel Ltd.	Iron & Steel	4.75%
Cummins India Ltd.	Automobile & Ancillaries	4.5%
NTPC Ltd	Power	4.49%
Ge Vernova T&D India Limited	Capital Goods	4.31%
Vedanta Ltd.	Non – Ferrous Metals	4.3%
Adani Power Ltd	Power	4.22%

The top 10 holdings account for approximately 48.8% of the portfolio.

To see all holdings, visit the Kotak Nifty 200 Momentum 30 Index Fund Direct Growth Plan page

The largest holding is Laurus Labs Ltd at 5.95%, which is sizable but not dominant on its own. The gap from the first holding to the tenth holding is only modest, so the portfolio does not show a single outsized position at the top of the list.

What matters more is the cluster of mid-single-digit weights across the basket. With 48.8% of the portfolio sitting in the displayed top 10 and 30 holdings disclosed in total, the fund appears meaningfully spread across many positions, even though the leading names may still have greater influence on short-run movement than the tail holdings.

This kind of structure may suit investors who can tolerate a concentrated equity process without expecting broad diversification across a very large number of equal-weight positions. The balance of weights suggests a spread-out holding pattern, but not one that removes the impact of the larger names.

Source data date: as of 17 Sep 2026

Who should invest

This fund fits investors with a high tolerance for equity volatility and a willingness to stay invested through uneven stretches. The negative 1-year return, positive 3-year return and high-risk tag together suggest that short holding periods may be uncomfortable, while a longer horizon gives the momentum approach more room to play out.

It may be more suitable for someone who already has a diversified core and wants a satellite allocation linked to a momentum-style index. The main trade-off is that a strategy built around stronger recent performers can lag badly in some periods, even if the longer trend later improves. Investors need to accept that timing and cycle sensitivity may be more visible here than in a broad market fund.

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 Kotak Nifty 200 Momentum 30 Index Fund Direct Growth Plan?

The current NAV is ₹14.4 as of 17 Sep 2026.

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

The 1-year return is -3.93%, the 3-year return is 9.2%, and the 5-year return is Data not available.

How has the fund performed versus NIFTY 50?

It has done better than NIFTY 50 over 1 year and 3 years. The 1-year return is less negative than the benchmark, and the 3-year return is higher.

How does it compare with the peer funds shown here?

Its 1-year return is weaker than the peer returns that are available, while its 3-year return is positive and better than the peer funds in this set that do not have a 3-year figure displayed. The comparison is mixed because the short-term and longer-term numbers do not tell the same story.

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 Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar. There is no exit load.

Bottom line

Kotak Nifty 200 Momentum 30 Index Fund Direct Growth Plan has a weaker recent stretch but a better 3-year record, so its short-term and longer-term profiles are not the same. Against the peer set shown here, the latest 1-year figure is soft, while the 3-year return is more constructive. The fund carries a High Risk label and uses a concentrated momentum basket, so it is better viewed as a higher-volatility equity choice for investors who can hold through cycle swings.

Published on 18 September 2026 at 1:27 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.