Mirae Asset Nifty 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Mirae Asset Nifty 50 Index Fund Direct Growth Plan had a NAV of ₹9.7687 as of 11 Sep 2026 and an AUM of ₹71 Cr. Its 1-year, 3-year and 5-year returns are -5.61%, 0% and 0%, and the fund is classified as High Risk. Our view is that this is a plain index option for investors who want Nifty 50 exposure and can live with near-term swings; the recent return pattern has been weaker than the benchmark, while the portfolio remains built around large, established names.

The combination of a low expense ratio and broad-market exposure can appeal to long-horizon investors, but the current return trend has not yet shown consistent upside. For investors who want a simple core allocation rather than an active style, the key question is whether they are comfortable with market-linked movement and an early-stage track record.

Quick facts

Particular	Details
NAV	₹9.7687 as of 11 Sep 2026
AUM	₹71 Cr
Expense Ratio	0.15%
Launch Date	24 Oct 2024
Min SIP	₹99
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Ekta Gala, Ritesh Patel

The fund is managed by Ekta Gala and Ritesh Patel.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.64%	-3.66%
3M	-1.41%	-1.91%
1Y	-5.61%	-7.62%
3Y	0%	Data not available
5Y	0%	Data not available

Recent performance has been weak in absolute terms, but the fund has stayed close to the benchmark over the shorter windows. Over 1 month, the gap versus Nifty 50 is very small, and the 3-month move also tracks the benchmark fairly closely. That tells us the fund is behaving like a tracking vehicle rather than a differentiated active strategy.

The 1-year figure is more important here because it gives a clearer view of the fund’s early record. The fund’s -5.61% return is better than the benchmark’s -7.62%, which means it has held up slightly better through a difficult year. Even so, the return is still negative, so the experience has been more about damage control than capital growth.

The longer look is harder to judge because the scheme was launched only in October 2024, so the 3-year and 5-year figures are not meaningful in the usual sense for the fund. What we can say is that the short-term pattern shows modest recovery after weakness, while the benchmark comparison confirms that the fund has not deviated much from market behaviour. For a passive large-cap product, that is the central test.

The broader reading is that this is still an early-track record index fund. Investors should focus more on whether they want Nifty 50 exposure at low cost than on searching for outperformance, because the recent numbers mainly show close benchmark alignment and limited standalone strength.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD Mirae Asset Nifty 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
Mirae Asset Nifty 50 Index Fund Direct Growth Plan	-5.61%	0%	0%
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.23%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.22%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	26.18%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	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 peer group shown here, where the comparison set includes several sharply positive outcomes. That difference matters, but it should be read in context: the peer list is dominated by thematic and overseas index strategies, while this fund is a domestic Nifty 50 tracker.

On the longer numbers that are available, the current fund does not show a stronger history than the better-established peer with 3-year data. In practical terms, the short-term comparison looks weak, while the longer-term picture is limited by the fund’s own young age and the absence of comparable figures for most peers.

So the two lenses tell different stories. The near-term comparison makes the fund look subdued, but the underlying structure remains consistent with a low-cost large-cap index product. Investors comparing only recent returns may overlook that the fund is designed to follow the market, not to lead a thematic rally.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd.	Bank	9.86%
ICICI Bank Ltd.	Bank	9.45%
Reliance Industries Ltd.	Crude Oil	7.83%
Bharti Airtel Ltd.	Telecom	5%
Larsen & Toubro Ltd.	Infrastructure	4.3%
State Bank of India	Bank	3.98%
Infosys Ltd.	IT	3.61%
Axis Bank Ltd.	Bank	3.39%
Kotak Mahindra Bank Ltd.	Bank	2.8%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	2.66%

The largest holding, HDFC Bank Ltd., stands at 9.86%, which is sizeable but not unusual for a large-cap index strategy. The tenth holding is 2.66%, so the weight drops off steadily rather than staying clustered at the top. That pattern suggests the portfolio may let a handful of large names influence returns, while still leaving room for several other heavyweights to matter.

The top 10 holdings account for approximately 52.88% of the portfolio, and the scheme discloses 49 holdings in total. That tells us the fund is not a narrow one-stock product, but the listed holdings still sit in a fairly meaningful concentration band. For investors, that usually means the broad market story will be driven most by the biggest banks, a large energy name, telecom, infrastructure and technology exposure.

Because this is an index fund, that concentration is likely to reflect the benchmark rather than an active conviction call. Even so, the top positions could shape short-term movement more than the long tail, especially when banking shares and other heavyweight stocks move together.

To see all holdings, visit the Mirae Asset Nifty 50 Index Fund Direct Growth Plan page

Source data date: as of 11 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk and want Nifty 50 exposure through a low-cost index route. The fit is better for people with a medium-to-long investment horizon, because the recent return profile has been negative and the scheme is still early in its history.

The main trade-off is simple: you get broad-market participation and low expenses, but you must accept that returns can move with the benchmark and may stay under pressure in weak market phases. Investors who want a steady positive track record or strong near-term outperformance may find that trade-off hard to accept.

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

No exit load applies if units are sold anytime.

Source data date: as of 11 Sep 2026

Frequently asked questions

What is the current NAV of Mirae Asset Nifty 50 Index Fund Direct Growth Plan?
Its NAV is ₹9.7687 as of 11 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -5.61%, while the 3-year and 5-year returns are both 0% in the current disclosure.

How does it compare with the benchmark?
Over 1 year, it has done better than Nifty 50, with -5.61% versus -7.62%. Over 1 month and 3 months, it has also stayed close to the benchmark’s movement.

How does it compare with the peer funds shown here?
Its 1-year return is much lower than the peer funds listed in the comparison table. The longer-term comparison is less useful because most peers shown do not have comparable 3-year or 5-year figures available.

Is there a minimum SIP?
Yes. The minimum SIP amount is ₹99.

Who manages the fund and what is the exit load?
The fund is managed by Ekta Gala and Ritesh Patel. No exit load applies if units are sold anytime.

Bottom line

This fund’s short-term record is weaker than the stronger peer return figures shown, but its movement has stayed close to Nifty 50 and it has done slightly better than the benchmark over 1 year. The portfolio is built around large, familiar names, with HDFC Bank Ltd. at 9.86% and a fairly broad spread across 49 holdings. For investors seeking a low-cost, market-linked Nifty 50 tracker, it fits a cautious, long-horizon core allocation better than a return-chasing approach.

Published on 15 September 2026 at 3:21 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.