Kotak NIFTY Midcap 150 Momentum 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak NIFTY Midcap 150 Momentum 50 Index Fund Direct Growth Plan has a NAV of ₹9.614 as of 10 Sep 2026 and an AUM of ₹442 Cr. Its 1-year, 3-year and 5-year returns are 4.17%, 0% and 0%, and the scheme is tagged High Risk. Our view is that this is a focused midcap-style exposure that has not yet built a long return history, so it suits investors who can tolerate sharp swings and are comfortable with an index-led momentum approach rather than a stable income profile.

With a low expense ratio of 0.28% and a minimum SIP of ₹100, the fund is accessible, but the return pattern has been uneven. The current positioning may appeal to investors who want a rule-based midcap strategy and are prepared for performance to move around the benchmark.

Quick facts

Particular	Details
NAV	₹9.614 as of 10 Sep 2026
AUM	₹442 Cr
Expense Ratio	0.28%
Launch Date	08 Oct 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 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.83%	-4.06%
3M	4.91%	1.37%
1Y	4.17%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is more useful than the long record here, because the fund was launched only in October 2024. Over 1 month, it slipped less than the benchmark, which still points to a relatively better short-term defence. Over 3 months and 1 year, it has stayed ahead of the benchmark, and the 1-year gap is especially notable because the benchmark return is negative while the fund remains positive.

The path has not been smooth, though. The movement through the year shows several pullbacks and recoveries rather than a straight line up, which is consistent with a high-risk midcap-style strategy. That means the fund has participated in rebounds, but it has also absorbed noticeable drawdowns along the way.

There is no 3-year or 5-year history to judge compounding over a full cycle, so our interpretation should stay anchored to the shorter periods. On that basis, the fund has been ahead of the benchmark in the latest measured windows, but the ride has been uneven enough that investors should expect variation around that trend.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Kotak NIFTY Midcap 150 Momentum 50 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 Midcap 150 Momentum 50 Index Fund Direct Growth Plan	4.17%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	33.08%	30.07%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.95%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.94%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	24.33%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	23.74%	Data not available	Data not available

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

The fund’s recent 1-year return is much lower than the stronger peer readings shown here, while its benchmark comparison is still better than the benchmark itself over the same period. That creates a mixed picture: relative to peers with available figures, the fund has lagged on the latest annual snapshot, but it has still held up better than its benchmark. Because the available peer data is mostly 1-year based, the shorter-term comparison is more informative than the missing longer-term peer rows.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Laurus Labs Ltd	Healthcare	6.22%
Federal Bank Ltd.	Bank	5.02%
Multi Commodity Exchange of India Limited	Finance	4.72%
BSE Ltd	Finance	4.67%
Bharat Forge Ltd.	Automobile & Ancillaries	4.31%
Ge Vernova T&D India Limited	Capital Goods	4.26%
Bharat Heavy Electricals Ltd.	Capital Goods	4.21%
Hitachi Energy India Ltd.	Capital Goods	3.58%
Polycab India Limited	Electricals	3.32%
National Aluminium Company Ltd.	Non – Ferrous Metals	3.18%

The top 10 holdings account for approximately 43.49% of the portfolio.

To see all holdings, visit the Kotak NIFTY Midcap 150 Momentum 50 Index Fund Direct Growth Plan page

The largest holding, Laurus Labs Ltd, stands at 6.22%, which is meaningful but not overwhelming on its own. The drop from the first holding to the tenth is fairly gradual, ending at 3.18%, so the visible portfolio does not look extremely top-heavy among the disclosed names.

At the same time, the top 10 holdings together make up 43.49% of the portfolio, which means a little more than half of the disclosed book sits outside these positions across the remaining holdings. With 47 holdings in total, the structure may allow diversification across many names, while the leading positions could still have a noticeable impact on returns.

That mix suggests a balance between concentration and breadth rather than a narrow bet on just a few stocks. The fund may therefore behave like a diversified midcap momentum basket, but individual larger positions can still matter when sector leadership changes.

Source data date: as of 10 Sep 2026

Who should invest

This fund suits investors who can accept High Risk and who are comfortable with a strategy that may move sharply over shorter periods. The 1-year result is positive, but the path has been uneven, and the lack of a long track record means the fund is still early in its history.

It fits better with a medium- to long-term horizon than with a short holding period, because momentum-led midcap exposure can swing around the benchmark. The main trade-off is that investors get a low-cost, rules-based strategy with strong recent relative behaviour, but they must be ready for higher volatility and periods when results lag stronger peer readings.

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 10 Sep 2026

Frequently asked questions

What is the current NAV of Kotak NIFTY Midcap 150 Momentum 50 Index Fund Direct Growth Plan?
The current NAV is ₹9.614 as of 10 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.17%, while the 3-year and 5-year returns are not available because the scheme is still too new for those periods.

How does it compare with its benchmark?
It has outperformed the benchmark over 1 month, 3 months and 1 year. The 1-year gap is especially notable because the fund is positive while the benchmark is negative.

How does it compare with the peer funds listed here?
Its 1-year return is below the stronger peer figures shown here, but the available peer data is mostly concentrated in the 1-year window. That makes the recent comparison useful, while the longer-term comparison remains limited by missing peer history.

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 Midcap 150 Momentum 50 Index Fund Direct Growth Plan has shown a better recent run than its benchmark, but its performance history is still short and uneven. Compared with the peer funds shown here, the latest 1-year figure is weaker, so the fund looks more like a selective momentum-style midcap exposure than a standout short-term performer. Its High Risk tag, low expense ratio and fairly broad 47-holding structure make it suitable for investors who can stay patient through volatility and want a rules-based approach with no exit load.

Published on 11 September 2026 at 6:26 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.