Motilal Oswal Multi Factor Passive FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Motilal Oswal Multi Factor Passive FoF Direct Growth Plan is at a NAV of ₹10.0086 as of 16 Sep 2026, with an AUM of ₹30 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and it sits in the High Risk category.

Our view is that this is a very early-stage fund with a short live history, so the current numbers tell us more about setup than about a tested track record. The portfolio is highly concentrated in four ETF holdings, and that structure can make the fund’s behaviour meaningfully different from a plain benchmark-style equity fund.

Quick facts

Particular	Details
NAV	₹10.0086 as of 16 Sep 2026
AUM	₹30 Cr
Expense Ratio	0.0%
Launch Date	12 Mar 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, Rakesh Shetty

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

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.84%	-4.41%
3M	-4.53%	-3.6%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The fund has had a soft start. Both recent windows are negative, and the 1-month figure is a little weaker than the benchmark, which suggests the portfolio has not yet shown resilience in a short falling spell. The 3-month number is also below the benchmark, so the current early pattern does not yet show clear outperformance.

Because the fund launched only in March 2026, there is no meaningful 1-year, 3-year or 5-year history to judge compounding through different market cycles. That matters here, because a factor-based fund can behave differently from a broad market index once the underlying style mix starts to matter. At this point, we would treat the recent stretch as a limited sample rather than a full statement on the strategy.

The daily pattern also looks uneven rather than smooth, which is typical of a newer fund with a concentrated portfolio. That does not automatically make it unsuitable, but it does mean investors should focus more on whether they are comfortable with short-term swings and less on trying to read too much into a few weeks of movement.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Motilal Oswal Multi Factor Passive FoF?

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 Multi Factor Passive FoF Direct Growth Plan	Data not available	Data not available	Data not available
Kotak Multi Factor Passive FOF Direct Growth Plan	Data not available	Data not available	Data not available
ICICI Pru Multi-Asset Active FOF Direct Growth Plan	Data not available	Data not available	Data not available
Tata Multi Sector Passive FOF Direct Growth Plan	Data not available	Data not available	Data not available
Kotak Diversified Equity All Cap Omni FOF Direct Growth Plan	Data not available	Data not available	Data not available
SBI Nifty Midcap 150 Momentum 50 ETF FOF 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 currently available return windows, there is no visible separation between this fund and the peer set because the 1-year, 3-year and 5-year fields are not yet available for any of them. That means the comparison is more useful for identifying fund types than for drawing performance preferences. Within that context, the current fund’s short-run weakness against the benchmark remains the main takeaway.

Since the peer set also lacks longer-term return histories, we cannot use this table to argue that one fund has a stronger multi-year record than another. For now, the practical distinction lies in structure: this fund is a multi-factor passive fund of funds, while some peers are multi-asset or single-theme style alternatives. That makes risk and portfolio construction more relevant than relative return claims at this stage.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Motilal Oswal Nifty 500 Momentum 50 ETF	Domestic Mutual Funds Units	27%
Motilal Oswal BSE Quality ETF	Domestic Mutual Funds Units	25.22%
Motilal Oswal BSE Low Volatility ETF	Domestic Mutual Funds Units	24.12%
Motilal Oswal BSE Enhanced Value ETF	Domestic Mutual Funds Units	23.18%

The largest holding is 27%, so no single sleeve dominates by itself, but the gap between the first and fourth positions is not wide. The holdings all sit in domestic mutual fund units, which means the fund’s return pattern is likely to be shaped by the underlying ETF mix rather than by direct stock selection.

With only four disclosed holdings and a combined disclosed weight of 99.52%, the portfolio looks tightly grouped at the top. That concentration may create a clearer factor exposure profile, but it also means the fund could move more in line with whichever underlying factor is leading or lagging at a given time.

Because the disclosed holdings already account for almost the entire portfolio, the visible structure leaves little room for a long tail to dilute the main positions. In our view, that makes the fund more transparent on construction, but it also places greater importance on whether an investor is comfortable with a compact, factor-led mix.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk and can wait long enough for a newer factor-based structure to show a clearer pattern. The current return profile is still too short to judge with confidence, so a short horizon would leave too much uncertainty.

The trade-off is straightforward: you get a compact, factor-driven portfolio with very low stated expenses, but the recent record is weak versus the benchmark and there is no multi-year performance history yet. That makes it more appropriate for patient investors who can tolerate swings and are prepared for the possibility that the underlying style mix may move differently from a broad market index.

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 Multi Factor Passive FoF Direct Growth Plan?

The current NAV is ₹10.0086 as of 16 Sep 2026.

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

The 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available. The fund has not yet built a long enough live history for those periods.

How has the fund done against the Nifty 50 in the recent periods?

The fund has lagged the Nifty 50 in both recent windows. Its 1-month return is -4.84% versus -4.41% for the benchmark, and its 3-month return is -4.53% versus -3.6%.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

What is the risk level and how concentrated is the portfolio?

The fund is classified as High Risk. The disclosed portfolio has four holdings, and the top holding is 27%, so the structure is concentrated at the top.

What are the exit load and fund manager details?

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

Bottom line

This is a newly launched High Risk fund with a short record, so the recent negative showing matters more as a warning signal than as a full verdict. Against the benchmark, the latest periods are a little weaker, while the longer-term return fields are not yet available. The portfolio is tightly built around four domestic mutual fund unit holdings, which makes the strategy easy to read but also more concentrated. In our view, it fits patient investors who understand factor-driven equity exposure and can live with an early stage performance profile.

Published on 17 September 2026 at 3:37 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.