Motilal Oswal BSE Clean Environment Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Motilal Oswal BSE Clean Environment Index Fund Direct Growth Plan has a NAV of ₹8.9691 as of 16 Sep 2026 and scheme AUM of ₹47 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk category. In our view, this is a niche thematic equity option that may suit investors who are comfortable with sharp swings and want exposure to an environmental and clean-energy style portfolio rather than a broad market fund.

The recent return profile is weak, while the portfolio is concentrated in a small set of names tied to power, capital goods and renewable themes. That makes the fund more dependent on a narrow set of holdings, so it may work better as a satellite allocation than as a core equity holding.

Quick facts

Particular	Details
NAV	₹8.9691 as of 16 Sep 2026
AUM	₹47 Cr
Expense Ratio	0.0%
Launch Date	25 Jun 2026
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 15D, Nil after 15D
Fund Managers	Swapnil P Mayekar, Dishant Mehta, Rakesh Shetty

The fund is managed by Swapnil P Mayekar, Dishant Mehta and Rakesh Shetty.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.33%	-4.41%
3M	Data not available	Data not available
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The one-month trend shows the fund has been under pressure, and the drop is a little sharper than the benchmark’s move over the same window. That suggests the strategy has been sensitive to the market tone even over a short period, which is not unusual for a concentrated thematic basket.

Because the fund launched only in late June 2026, there is no longer track record to assess 3-year or 5-year behaviour. For now, the available evidence points to a fresh scheme still finding its price range, with recent movement driven more by near-term market conditions than by a mature compounding history.

Against the NIFTY 50, the fund has lagged on the one-month measure. The benchmark also weakened, but the fund’s decline was steeper, which indicates slightly higher sensitivity to the segment it holds. In our view, that is an important reminder that theme-led portfolios can move differently from the wider market even when the broader index is also soft.

There is not enough history yet to judge whether this weaker short-term pattern will persist or whether the fund can build a more stable track record over time. What is visible now is a volatile start, and investors would need to be comfortable with the possibility that early returns may remain uneven.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Motilal Oswal BSE Clean Environment 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
Motilal Oswal BSE Clean Environment Index Fund Direct Growth Plan	Data not available	Data not available	Data not available
HDFC CRISIL-IBX Financial Services 9-12 Months Debt Index Fund Direct Growth Plan	Data not available	Data not available	Data not available
Axis Nifty50 Equal Weight Index Fund Direct Growth Plan	Data not available	Data not available	Data not available
Axis Nifty Energy Index Fund Direct Growth Plan	Data not available	Data not available	Data not available
Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund Direct Growth Plan	Data not available	Data not available	Data not available
SBI CRISIL-IBX 10:90 Gilt+SDL Index-Dec 2029 Index Fund Direct Growth Plan	Data not available	Data not available	Data not available

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

On the available return figures, the fund does not yet show a clear edge over the comparison set because its own 1-year figure is not available. That leaves the one-month reading as the main live signal, and it is weaker than the benchmark’s comparable move. With no usable 3-year or 5-year peer return figures in the table, the short-term picture is clearer than the long-term one.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Tata Power Company Limited	Power	13.80%
Suzlon Energy Limited	Capital Goods	13.62%
Adani Green Energy Limited	Power	11.27%
Ather Energy Limited	Domestic Equities	8.95%
JSW Energy Limited	Power	7.82%
Waaree Energies Limited	Capital Goods	6.93%
NHPC Limited	Power	6.51%
Mtar Technologies Limited	Capital Goods	4.26%
Premier Energies Limited	Trading	4.15%
Va Tech Wabag Limited	Business Services	2.80%

The top 10 holdings account for approximately 80.11% of the portfolio.

To see all holdings, visit the Motilal Oswal BSE Clean Environment Index Fund Direct Growth Plan page

The largest holding, Tata Power Company Limited, carries a weight of 13.80%, which is large enough to be a meaningful driver of day-to-day movement. The gap from the first holding to the tenth is also notable, but not extreme, because the list stays relatively heavy across the first several names rather than collapsing after the top one or two positions.

Our view is that the portfolio is concentrated in a limited set of clean-energy and adjacent businesses. The top 10 positions alone represent about 80.11% of the portfolio, and there are 23 disclosed holdings in total, so the remaining tail is present but smaller in influence. That structure may make the fund more responsive to the fortunes of a handful of names.

The sector mix inside the holdings list is also tilted toward power and capital goods, with renewable-linked companies featuring prominently. That concentration may help the fund express its theme clearly, but it could also mean that performance depends heavily on a relatively narrow market area rather than a broad spread of industries.

Source data date: as of 16 Sep 2026

Who should invest

This fund is suited to investors who can tolerate High Risk and are comfortable with a thematic equity allocation that may move differently from the wider market. The available return history is short and currently weak, so the better fit is an investor with a longer horizon and patience for uneven starts rather than someone looking for steady near-term results.

The main trade-off is clear: the fund offers focused exposure to an environmental and clean-power theme, but that focus comes with concentration risk and a less established performance record. For investors who want a broad market core, this may feel too narrow; for those who want a satellite position linked to a specific theme, it may be closer to the right profile.

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 15D, Nil after 15D.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Motilal Oswal BSE Clean Environment Index Fund Direct Growth Plan?

The current NAV is ₹8.9691 as of 16 Sep 2026.

What are the fund’s recent returns?

The fund’s 1-year, 3-year and 5-year returns are not available in the current track record. The one-month return is -5.33%.

How has the fund performed against the benchmark?

Over one month, the fund fell 5.33% while the benchmark fell 4.41%. That means the fund declined a little more than the benchmark in the most recent period.

What is the minimum SIP for this fund?

There is no minimum SIP listed for this fund in the available fund facts, so we do not state one here.

How risky is this fund?

The fund is classified as High Risk. Its concentrated thematic portfolio and short track record make it more suitable for investors who can handle sharp swings.

Who manages the fund and what is the exit load?

The fund is managed by Swapnil P Mayekar, Dishant Mehta and Rakesh Shetty. The exit load is 1% on or before 15 days and nil after 15 days.

Bottom line

This is a newly launched High Risk thematic fund with a short and currently weak return history, while the available benchmark comparison is also soft but slightly better than the fund’s one-month move. The portfolio is clearly concentrated, with the top 10 holdings accounting for about 80.11% of assets and a strong tilt toward power and capital-goods names linked to the clean-environment theme. That makes the fund a focused thematic bet rather than a broad diversification tool, so it is most relevant for investors who are comfortable with volatility and a narrow theme-led exposure.

Published on 17 September 2026 at 5:00 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.