Kotak Nifty 50 Equal Weight Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Nifty 50 Equal Weight Index Fund Direct Growth Plan currently has a NAV of ₹10.797 as of 15 Sep 2026 and manages ₹67 Cr. Its 1-year, 3-year and 5-year returns are -1.06%, 0% and 0%, and the scheme is tagged as High Risk. Our view is that this is a narrow-fit index strategy for investors who want Nifty 50 exposure with equal-weight construction, but the recent return profile has been weak and the fund has only a short live history after launching on 23 Dec 2024.

The low expense ratio of 0.22% helps keep costs contained, but the return record still needs more time to build. For now, the fund looks better suited to investors who understand that equal-weight index exposure can behave differently from the headline Nifty 50 and who are comfortable with short-term swings while waiting for a fuller performance track record.

Quick facts

Particular	Details
NAV	₹10.797 as of 15 Sep 2026
AUM	₹67 Cr
Expense Ratio	0.22%
Launch Date	23 Dec 2024
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 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.96%	-4.81%
3M	-2.47%	-3.63%
1Y	-1.06%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

In the recent one-month window, the fund has been weak, and the drop has been slightly steeper than the benchmark. That tells us the equal-weight structure has not offered a short-term cushion, even though the benchmark itself has also been under pressure.

The three-month picture is a little better for the fund than for the benchmark, which suggests it has held up somewhat more steadily across the latest quarter. Still, both lines point to a choppy stretch rather than a clean recovery, so we would not read too much into a single short window.

Across one year, the fund has been far less negative than NIFTY 50. That gap matters because it shows the fund has cushioned part of the benchmark weakness over the broader twelve-month period, even if the current run remains soft.

There is not enough live history yet to read a true 3-year or 5-year compounding pattern, so the main takeaway is that the fund has been better than the benchmark over 1 year, but the very recent trend is mixed and still volatile.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Kotak Nifty 50 Equal Weight 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 50 Equal Weight Index Fund Direct Growth Plan	-1.06%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.71%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.15%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.11%	18.92%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On available one-year figures, this fund trails the peer set by a wide margin, while the listed peers have much stronger recent outcomes. The longer-window comparison is less useful here because this scheme does not yet have a usable 3-year or 5-year history, so the short-term gap is the clearer signal. That makes the comparison more about maturity and recent behaviour than about a full-cycle contest.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eternal Limited	Retailing	2.53%
Bajaj Auto Ltd.	Automobile & Ancillaries	2.46%
HCL Technologies Ltd.	IT	2.33%
Titan Company Ltd.	Diamond & Jewellery	2.33%
Tata Consultancy Services Ltd.	IT	2.25%
Bajaj Finserv Ltd.	Finance	2.24%
Tech Mahindra Ltd.	IT	2.2%
Shriram Finance Limited	Finance	2.15%
Nestle India Ltd.	FMCG	2.14%
Grasim Industries Ltd.	Diversified	2.13%

The top 10 holdings account for approximately 22.76% of the portfolio.

To see all holdings, visit the Kotak Nifty 50 Equal Weight Index Fund Direct Growth Plan page

The largest holding is Eternal Limited at 2.53%, which is close to the rest of the top block and shows that no single name dominates the disclosed list. The fall from the first holding to the tenth is modest, from 2.53% to 2.13%, so the table suggests a fairly even spread among the largest positions rather than a sharp concentration at the top.

That pattern fits the equal-weight approach. The top 10 holdings together account for 22.76% of the portfolio, while 50 holdings are disclosed in total, so the rest of the scheme may still matter materially. In our view, this is a structure where a broad set of positions can influence returns instead of a very small cluster of large bets.

Because the largest disclosed weights are tightly grouped, the portfolio may behave more evenly across its major names than a traditional market-cap-weighted large-cap fund. At the same time, the long tail beyond the first 10 holdings means the full impact of the scheme is not visible from the leading names alone.

Source data date: as of 15 Sep 2026

Who should invest

This fund is better aligned with investors who are comfortable with High Risk funds and who can stay invested long enough to ride through uneven short-term periods. The one-year result has been better than the benchmark, but the recent one-month and three-month numbers show that the path has still been choppy.

The main trade-off is between broader equal-weight exposure and a live track record that is still short. Investors who want an index-based large-cap style exposure and can accept near-term fluctuation may find the structure reasonable, while those looking for a more established performance record may prefer to wait for a longer history.

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 15 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Nifty 50 Equal Weight Index Fund Direct Growth Plan?

The current NAV is ₹10.797 as of 15 Sep 2026.

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

The 1-year return is -1.06%, while the 3-year and 5-year returns are both 0% in the available record. The shorter live history explains why the longer periods are not yet usable here.

How has the fund performed against NIFTY 50?

The fund has done better than NIFTY 50 over 1 year, with -1.06% versus -8.27%. Over 1 month, the fund is slightly weaker than the benchmark, while over 3 months it is a bit steadier.

How does the fund compare with the peer funds shown here?

On the available 1-year figures, this fund trails the listed peers by a wide margin. The peers shown have much stronger recent numbers, although some of them also have long-window data that this scheme does not yet have.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

What is the risk level, and who manages the fund?

The fund is tagged as High Risk. It is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar.

Bottom line

Kotak Nifty 50 Equal Weight Index Fund Direct Growth Plan has a mixed early record: the one-year outcome is less negative than the benchmark, but the latest month and quarter are still weak. Compared with the listed peers, the available one-year figure is clearly behind, while the lack of a longer live history limits deeper comparison. The equal-weight portfolio is reasonably spread across holdings, with no single position dominating the top block, so this is a fund for investors who can accept High Risk and wait for a longer track record.

Published on 16 September 2026 at 9:12 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.