Navi Nifty Smallcap250 Momentum Quality 100 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Navi Nifty Smallcap250 Momentum Quality 100 Index Fund Direct Growth Plan has a NAV of ₹12.3292 as of 18 Sep 2026 and a scheme AUM of ₹41 Cr. Its 1-year, 3-year and 5-year returns are 4.38%, 0% and 0%, and it sits in the High Risk category.

Our view is that this is a small-cap index strategy with a clear growth tilt, but its recent return profile remains modest relative to the benchmark behavior shown here. The portfolio is spread across 70 holdings, with the largest positions still meaningful, so investors need to be comfortable with volatility and with returns that may differ sharply across market cycles.

Quick facts

Particular	Details
NAV	₹12.3292 as of 18 Sep 2026
AUM	₹41 Cr
Expense Ratio	0.32%
Launch Date	12 Mar 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Ashutosh Shirwaikar

The fund is managed by Ashutosh Shirwaikar.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.29%	-3.73%
3M	4.66%	-3.14%
1Y	4.38%	-5.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term pattern has been choppy, but the fund has stayed positive over the 1-month, 3-month and 1-year windows. That matters because the benchmark has been weak across the same windows, so the fund’s recent numbers look better on a relative basis even if the absolute gains are not large.

The 3-month figure is the strongest of the available periods, which suggests the fund has recovered better than the benchmark during the most recent stretch. The 1-year return is also positive, while the benchmark remains negative over that span. That points to a fund that has handled the recent cycle better than the broad market reference used here.

At the same time, the lack of 3-year and 5-year return figures means there is no long record here to judge how consistently it has compounded through a full cycle. The one-year pattern is therefore more useful for reading current momentum than for making a long-horizon judgement.

For investors, the key takeaway is that the fund’s near-term behaviour differs materially from the benchmark’s weaker path, but the evidence still comes from a short operating history. That makes the fund more suitable for investors who want small-cap exposure and can accept that the return path may remain uneven.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Navi Nifty Smallcap250 Momentum Quality 100 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
Navi Nifty Smallcap250 Momentum Quality 100 Index Fund Direct Growth Plan	4.38%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	31.6%	30.84%	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.71%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.44%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	21.24%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.45%	19.9%	Data not available

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

The fund’s 1-year return trails the stronger peer figures shown here by a wide margin, which tells us the recent performance has been comparatively subdued. The gap is especially visible against peers that have posted returns above 20% over the same horizon. On the longer window, the only peer with a 3-year figure in this set has a much higher number, so the fund does not yet look competitive on multi-year return evidence.

That said, the peer set is not telling a single story. Some peers have only 1-year records available, while one has both 1-year and 3-year figures. So the short-term comparison is clearer than the long-term one. Overall, the available data suggests the fund has lagged the stronger names on returns so far, but the evidence base for a longer comparison is still thin.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Welspun Corp Ltd	Iron & Steel	4.12%
Sona BLW Precision Forgings Limited	Automobile & Ancillaries	3.54%
HFCL Limited	Telecom	3.4%
Karur Vysya Bank Limited	Bank	3.35%
Navin Fluorine International Limited	Chemicals	3.32%
Anand Rathi Wealth Limited	Finance	3.07%
Gland Pharma Limited	Healthcare	2.9%
Acutaas Chemicals Limited	Healthcare	2.65%
Computer Age Management Services Limited	Business Services	2.29%
Neuland Laboratories Ltd	Healthcare	2.18%

The top 10 holdings account for approximately 30.82% of the portfolio.

To see all holdings, visit the Navi Nifty Smallcap250 Momentum Quality 100 Index Fund Direct Growth Plan page

The largest holding, Welspun Corp Ltd, has a weight of 4.12%, so no single position dominates the portfolio on its own. The gap from the first holding to the tenth is not extreme in absolute terms, moving from 4.12% to 2.18%, which suggests the portfolio may be spread across several similarly sized positions rather than concentrated in one or two outsized bets.

Even so, the top 10 still account for roughly 30.82% of the disclosed holdings, and there are 70 holdings in total. That combination points to a diversified small-cap basket with a meaningful tail beyond the largest names. The fund may therefore spread stock-specific risk more than a narrow portfolio would, while still allowing the top positions to have a noticeable influence.

Because the holdings are spread across sectors such as iron & steel, automobile & ancillaries, telecom, banking, chemicals and healthcare, sector movement could still matter in a visible way. The portfolio looks broad enough to avoid extreme concentration, but not so dispersed that the largest names lose relevance.

Source data date: as of 18 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and are comfortable with a small-cap style that can move unevenly. The recent return pattern is positive but modest, and the benchmark has been weaker over the same short windows, so the trade-off is between accepting higher volatility and aiming for differentiated small-cap exposure.

It is better suited to a medium- to long-term horizon than to short-term goals, because the available return record is still short and the path has already shown swings. Investors who want steadier results or who need a fund with a longer proven cycle may find the fit weaker.

The main trade-off is simple: you get a diversified basket of smaller companies, but the journey can be uneven and the evidence base is still limited. That makes the fund more appropriate for investors who understand small-cap volatility and are willing to hold through periods when returns lag or fluctuate.

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 18 Sep 2026

Frequently asked questions

What is the current NAV of Navi Nifty Smallcap250 Momentum Quality 100 Index Fund Direct Growth Plan?

The current NAV is ₹12.3292 as of 18 Sep 2026.

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

The fund’s 1-year return is 4.38%, while the 3-year and 5-year returns are not available.

How does the fund compare with its benchmark?

It has outperformed the benchmark over the available short windows. The fund is positive over 1 month, 3 months and 1 year, while the benchmark is negative in those same periods.

How does it compare with peer funds on available return data?

Its 1-year return is lower than the stronger peer figures shown here, while the only peer with a 3-year figure also shows a much higher return.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

What is the risk level, and who manages the fund?

The fund is in the High Risk category and is managed by Ashutosh Shirwaikar. Its portfolio is spread across 70 holdings, with the top 10 accounting for about 30.82% of the disclosed portfolio.

Bottom line

This fund’s recent performance is better than its benchmark over the available short windows, but the gain profile is still modest and the longer-term record is not yet available. Against the peer figures shown here, it trails the stronger return numbers by a wide margin. The portfolio is diversified across 70 holdings, with the top positions still important but not overwhelmingly dominant, which fits the High Risk label and the small-cap style of the strategy.

Published on 21 September 2026 at 9:37 AM 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.