Nippon India Nifty Alpha Low Volatility 30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Nippon India Nifty Alpha Low Volatility 30 Index Fund Direct Growth Plan has a NAV of ₹15.7735 as of 18 Sep 2026 and an AUM of ₹1,291 Cr. Its 1-year, 3-year and 5-year returns are -2.95%, 9.59% and 0% respectively, and the scheme is tagged as High Risk. Our view is that this fund suits investors who can accept uneven short-term outcomes in exchange for an index-led strategy with a focused portfolio that has still held up better over 3 years than over the most recent 1 year.

The benchmark is Nifty 50, but the recent return pattern has been weaker than the longer run in parts of the review period. That makes it more appropriate for investors who understand that index strategies can still go through sharp stretches of weakness, even when the longer-term picture improves.

Quick facts

Particular	Details
NAV	₹15.7735 as of 18 Sep 2026
AUM	₹1,291 Cr
Expense Ratio	0.35%
Launch Date	19 Aug 2022
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Jitendra Tolani

The fund is managed by Jitendra Tolani.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.94%	-3.73%
3M	-0.63%	-3.14%
1Y	-2.95%	-5.31%
3Y	9.59%	6.3%
5Y	Data not available	Data not available

Over the most recent month, the fund was down and lagged the benchmark by a small margin. The three-month picture is better, because the fund stayed close to flat while the benchmark fell more sharply, which suggests relative resilience during that window.

The 1-year result is still negative, but it is less weak than the benchmark. That tells us the fund has not been a smooth holding in the recent cycle, yet it has managed to reduce some of the benchmark’s downside over a 12-month span.

Looking at 3 years, the picture turns more constructive. The fund’s return is positive and clearly ahead of the benchmark, which indicates that the strategy has recovered better over the medium term than it did in the recent weaker phase.

The 5-year figure is not available, so we do not have a long full-cycle return to compare. Even so, the available history suggests a pattern of intermittent softness, followed by recovery, rather than a straight-line compounding path.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Nippon India Nifty Alpha Low Volatility 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
Nippon India Nifty Alpha Low Volatility 30 Index Fund Direct Growth Plan	-2.95%	9.59%	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 current fund’s 1-year return is weaker than every peer listed here, but its 3-year return is stronger than the benchmark-style comparison set that includes peers with longer history and available figures. That split tells us the recent softness is not the only story; the medium-term record has improved enough to show that the strategy can recover when conditions turn more favourable.

The short-term comparison therefore looks less supportive than the 3-year comparison. For an investor reading the table, that means recent weakness should not be ignored, but neither should the better medium-term outcome when judging the fund’s behaviour.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Torrent Pharmaceuticals Limited	Healthcare	4.63%
Bajaj Auto Limited	Automobile & Ancillaries	4.15%
Apollo Hospitals Enterprise Limited	Healthcare	3.97%
Nestle India Limited	FMCG	3.94%
NTPC Limited	Power	3.86%
ICICI Bank Limited	Bank	3.85%
Marico Limited	FMCG	3.85%
Hindalco Industries Limited	Non – Ferrous Metals	3.8%
Grasim Industries Limited	Diversified	3.69%
The Federal Bank Limited	Bank	3.69%

The top 10 holdings account for approximately 39.43% of the portfolio.

To see all holdings, visit the Nippon India Nifty Alpha Low Volatility 30 Index Fund Direct Growth Plan page

The largest holding, Torrent Pharmaceuticals Limited, stands at 4.63%, which is not unusually dominant on its own, but it is still large enough to influence how the fund behaves. The tenth holding is 3.69%, so the drop from first to tenth is fairly shallow, which points to a clustered top basket rather than one stock carrying most of the weight.

That said, the 10 holdings together account for 39.43% of the portfolio, while the scheme discloses 30 holdings in total. This suggests the fund may still have meaningful spread beyond the visible top slice, even though the listed names are fairly close in weight and may move together in some market conditions.

For an index fund, that profile can be useful because it avoids extreme single-stock dependence, but it also means investors should not expect one or two large positions to dominate outcomes in a simple way. The broader tail of holdings may matter, yet the top basket is still significant enough to shape returns.

Source data date: as of 18 Sep 2026

Who should invest

This fund is better suited to investors who are comfortable with High Risk products and who can stay invested for several years. The 1-year return has been negative, but the 3-year return is positive and ahead of the benchmark, which means the holding period matters a lot here.

It may fit investors who want an index-based equity allocation with a focused set of holdings, rather than a broad market blend. The trade-off is clear: you may get better medium-term recovery than the most recent year suggests, but you must be willing to tolerate weak stretches and accept that short-term performance can move against the benchmark.

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 Nippon India Nifty Alpha Low Volatility 30 Index Fund Direct Growth Plan?
It is ₹15.7735 as of 18 Sep 2026.

What are the fund’s recent returns?
The fund’s 1-year return is -2.95%, its 3-year return is 9.59%, and its 5-year return is 0%. The 5-year figure should be treated as data not available in practical comparison because a full 5-year return is not shown.

How has the fund performed against Nifty 50?
It has lagged the benchmark over 1 month and 1 year, but it has done better over 3 months and 3 years. That pattern shows a mixed but not uniformly weak record.

How does it compare with peer funds on 1-year performance?
Its 1-year return is lower than the peer funds listed in the comparison table. Several peers have delivered materially stronger 1-year outcomes over the same period.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

What is the exit load and who manages the fund?
There is no exit load. The fund is managed by Jitendra Tolani.

Bottom line

This fund’s recent performance has been weaker than its longer-term 3-year result, so the story is not one of steady compounding. Compared with the listed peers, the short-term record trails clearly, while the medium-term result looks more constructive. The portfolio is fairly spread across 30 holdings, with the top 10 making up 39.43%, which may moderate single-stock dependence. Overall, it suits investors who can live with High Risk and who are comfortable waiting through uneven periods for the strategy’s medium-term pattern to play out.

Published on 21 September 2026 at 9:46 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.