Motilal Oswal Nifty 200 Momentum 30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Motilal Oswal Nifty 200 Momentum 30 Index Fund Direct Growth Plan has a NAV of ₹14.8229 as of 16 Sep 2026 and an AUM of ₹957 Cr. Its 1-year, 3-year and 5-year returns are -4.28%, 9.08% and 0%. The fund is in the High Risk category, so our view is that it suits investors who can tolerate sharp swings and want a momentum-style index strategy rather than a steady, low-volatility path.

The scheme has not matched its benchmark over the 1-year period, but the 3-year record is better and points to a clearer medium-term recovery pattern. With a concentrated basket of 30 holdings and a low expense ratio, it may appeal more to investors who are comfortable with cyclical equity exposure and can stay invested through uneven short-term phases.

Quick facts

Particular	Details
NAV	₹14.8229 as of 16 Sep 2026
AUM	₹957 Cr
Expense Ratio	0.32%
Launch Date	10 Feb 2022
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
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	-4.68%	-4.41%
3M	-4.61%	-3.6%
1Y	-4.28%	-7.76%
3Y	9.08%	5.74%
5Y	Data not available	Data not available

Recent performance has been soft, with both the 1-month and 3-month figures still negative. That tells us the fund has remained sensitive to market swings in the near term, which is consistent with a momentum-oriented portfolio. The 1-year result is also negative, but it is less weak than the benchmark, so the fund has held up better than the broad index over that window.

The longer view is more constructive. The 3-year return is positive and ahead of the benchmark, which suggests the strategy has recovered better over a fuller cycle than it did in the most recent year. That gap between the 1-year and 3-year readings matters: the fund has not offered a smooth ride, but it has shown that it can rebound when momentum turns in its favour.

On the return path, our read is that this is not a steady compounding fund. The shorter-period pattern points to volatility, while the 3-year figure shows that the strategy has still produced meaningful medium-term gains. Because the benchmark also stayed negative over the short term, the comparison is less about avoiding drawdowns and more about whether the fund can recover faster once conditions improve.

Overall, the recent pattern is weaker than the 3-year trend, so investors should expect periods when the fund looks out of step with the broader market. The key question is whether they are comfortable holding through those swings for the possibility of stronger recovery over time.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Motilal Oswal Nifty 200 Momentum 30 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 Nifty 200 Momentum 30 Index Fund Direct Growth Plan	-4.28%	9.08%	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.45%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.13%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.68%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	17.57%	18.84%	Data not available

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

In the 1-year view, the fund trails several peer funds that posted strong positive returns, even though it did better than its benchmark over the same period. That makes the near-term picture look relatively subdued.

The 3-year picture is more balanced. The fund’s 3-year return is ahead of the available 3-year benchmarked peer figure in this set, but it remains far below the strongest longer-term return shown by the NASDAQ-linked peer. So the short-term and medium-term comparisons point in different directions: the fund has looked weak recently, yet more resilient over three years than the benchmark and some peers with published 3-year figures.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Laurus Labs Limited	Healthcare	5.94%
Multi Commodity Exchange of India Limited	Finance	5.85%
Shriram Finance Limited	Finance	5.32%
Hindalco Industries Limited	Non – Ferrous Metals	5.08%
Tata Steel Limited	Iron & Steel	4.74%
Cummins India Limited	Automobile & Ancillaries	4.49%
NTPC Limited	Power	4.48%
Ge Vernova T&D India Limited	Capital Goods	4.3%
Vedanta Limited	Non – Ferrous Metals	4.29%
Adani Power Limited	Power	4.21%

The largest holding, Laurus Labs Limited, carries a 5.94% weight, so no single position dominates the fund outright. The drop from the first holding to the tenth is modest rather than steep, which suggests the portfolio is built as a spread of similar-sized positions instead of a highly top-heavy structure.

The top 10 holdings together account for approximately 48.7% of the portfolio, and the disclosed holding list covers 30 positions in total. That combination suggests a meaningful tail beyond the largest names, even though the top holdings still matter a lot to day-to-day movement. In our view, the fund may therefore be influenced by a relatively small cluster of positions, but it is not concentrated in just one or two stocks.

Because the weights stay fairly close together across the top of the list, performance may depend on how several positions behave together rather than on one dominant stock. That can be helpful when the momentum theme is working, but it also means the portfolio could shift noticeably if the leading names move in different directions.

To see all holdings, visit the Motilal Oswal Nifty 200 Momentum 30 Index Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund is better suited to investors with a high tolerance for volatility and a medium-to-long investment horizon. The High Risk tag fits the return pattern: short-term numbers are weak, while the 3-year result is stronger and shows the strategy can recover when market leadership changes.

The main trade-off is that you may have to live through extended periods of underperformance versus the benchmark and still wait for the momentum cycle to improve. Investors who want smoother equity returns or a defensive profile may find the ride uncomfortable, while those who can stay patient through sharp swings may find the strategy more usable as part of a broader equity allocation.

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 applies as 1% on or before 15D, and there is nil exit load after 15D.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Motilal Oswal Nifty 200 Momentum 30 Index Fund Direct Growth Plan?

The current NAV is ₹14.8229 as of 16 Sep 2026.

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

The 1-year return is -4.28%, the 3-year return is 9.08%, and the 5-year return is Data not available.

How has the fund performed against its benchmark?

Over 1 year, the fund has done better than the benchmark, but over 3 years it has also stayed ahead of the benchmark. The short-term path has still been volatile, with negative 1-month and 3-month figures.

How does it compare with the peer funds listed here?

Its 1-year return is lower than several peer funds shown here, while its 3-year return is stronger than the available 3-year figure for one peer but far below the strongest longer-term peer performance in the set. The short-term and medium-term comparisons point in different directions.

What is the exit load on this fund?

The exit load is 1% on or before 15D, and nil after 15D.

Who manages the fund?

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

Bottom line

This fund’s recent return pattern is weaker than its 3-year record, so the short-term story and medium-term story are not the same. It has also lagged some peer funds on 1-year returns, while the 3-year result is more constructive and better than the benchmark. With a High Risk profile and a 30-holding momentum-oriented portfolio, it is best viewed as an equity strategy for investors who can accept uneven stretches in exchange for the chance of stronger recovery when market trends improve.

Published on 17 September 2026 at 1:52 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.