SBI Nifty Midcap 150 Momentum 50 ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

SBI Nifty Midcap 150 Momentum 50 ETF FOF Direct Growth Plan is priced at ₹9.8064 as of 17 September 2026 and manages ₹117 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme sits in the High Risk bucket. In our view, this is a fund for investors who want a concentrated midcap-momentum exposure through a fund-of-funds structure and are comfortable with sharp short-term swings rather than steady near-term gains.

The return record is still very limited because the scheme launched on 07 August 2026, so the current reading is better treated as an early snapshot than a mature track record. The near-term movement has been softer than the benchmark, and the portfolio is almost entirely invested in one underlying ETF, so the outcome will closely follow that single vehicle.

Quick facts

Particular	Details
NAV	₹9.8064 as of 17 Sep 2026
AUM	₹117 Cr
Expense Ratio	0.0%
Launch Date	07 Aug 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	Viral Chhadva

The fund is managed by Viral Chhadva.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.55%	-3.66%
3M	Data not available	Data not available
1Y	0%	Data not available
3Y	0%	Data not available
5Y	0%	Data not available

The one-month reading shows pressure, but the fund still held up slightly better than the benchmark over the same window. That gap is modest, yet it matters because the fund’s mandate is exposed to a narrower momentum style that can move differently from the broad market.

Beyond the latest month, there is not enough operating history to build a full longer-term pattern. The visible 1-year, 3-year and 5-year figures are still at 0%, which reflects the scheme’s very recent launch rather than a settled multi-year record. For that reason, we treat the current return profile as a starting point, not a proven cycle-tested outcome.

The short-term trend looks choppy rather than smooth. The daily path has shown a few recoveries, but it has not yet translated into durable compounding. That is consistent with a momentum-led midcap exposure: it may respond quickly when the style is working, but it can also underperform when sentiment or factor leadership turns.

Compared with the benchmark, the fund has been a little less weak in the most recent month. However, because the longer-term figures are not yet developed, it is too early to read that as evidence of structural outperformance. For now, the main takeaway is that the fund has started life with early volatility and limited history.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD SBI Nifty Midcap 150 Momentum 50 ETF 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
SBI Nifty Midcap 150 Momentum 50 ETF FOF Direct Growth Plan	0%	0%	0%
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	0%	0%	0%

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

The current fund’s visible return data is more complete than most of the listed peers, but the peer set itself offers no usable multi-period figures for comparison. That means there is no meaningful 3-year or 5-year edge to claim against the peers on the available numbers. The only usable short-term comparison is the one-month move, where the fund has been slightly less weak than the benchmark but still negative. In short, the peer table tells a limited story: the fund’s early numbers are visible, while the others mostly remain unavailable for the same time windows.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
SBI Nifty Midcap 150 Momentum 50 ETF	Domestic Mutual Funds Units	100.2%

The disclosed portfolio is fully concentrated in a single underlying ETF holding, so that one position is likely to have the greatest influence on returns. At 100.2%, it is effectively the entire disclosed exposure, which makes the fund’s behaviour much more dependent on that underlying vehicle than on a broad basket of direct securities.

Because only one holding is disclosed, there is no fall-off from the largest position to a tenth holding. That absence of breadth is important: it means the fund does not spread weight across several visible positions at this stage. The portfolio therefore looks narrow rather than diversified, at least within the holdings that are currently disclosed.

With one disclosed holding out of one total holding row, the portfolio is highly concentrated in structure. That concentration may improve transparency, but it also means the fund’s return path could stay closely tied to the underlying ETF’s own movement. If the underlying strategy swings sharply, this fund may mirror that effect almost directly.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and who understand that the current history is very short. It is better aligned with a longer horizon than a quick-return expectation because the visible record does not yet show stable multi-year compounding, and the portfolio is tightly concentrated in one underlying ETF.

The main trade-off is between style exposure and stability. Investors looking for a pure broad-market experience may find the momentum-led midcap structure too narrow, while those who want to accept more short-term movement for a specific factor tilt may see the fit more clearly. The benchmark and peer comparisons do not yet provide enough long-run evidence to argue for consistency, so patience matters more than near-term visibility.

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 17 Sep 2026

Frequently asked questions

What is the current NAV of SBI Nifty Midcap 150 Momentum 50 ETF FOF Direct Growth Plan?

The current NAV is ₹9.8064 as of 17 September 2026.

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

The fund’s 1-year, 3-year and 5-year returns are 0%, 0% and 0%.

How does it compare with the benchmark?

Over the latest one-month period, the fund returned -2.55% while the benchmark returned -3.66%. The longer-period benchmark figures are not available in the same way here, so the clearest comparison is for the recent month.

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

The peer set does not provide usable 1-year, 3-year or 5-year figures for most schemes, so a strong multi-period comparison is not possible. The fund’s visible return record is more complete than the others listed here.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?

The fund is managed by Viral Chhadva. The exit load is 1% on or before 15D, and nil after 15D.

Bottom line

This fund’s very recent launch means the current performance picture is still early, with the one-month move softer than the benchmark but slightly less weak than the index. The peer table does not yet offer a meaningful long-run comparison, so the clearest read is on structure: the fund is High Risk and is almost fully tied to one underlying ETF. That makes it suitable only for investors who can tolerate short-term swings and who are comfortable with a narrow momentum-led midcap exposure.

Published on 18 September 2026 at 8:24 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.