Tata Nifty India Tourism Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Tata Nifty India Tourism Index Fund Direct Growth Plan had a NAV of ₹8.8486 as of 10 Sep 2026 and an AUM of ₹263 Cr. Its 1-year, 3-year and 5-year returns are -16.16%, 0% and 0%, and it sits in the High Risk category. In our view, this is a narrow thematic index fund for investors who can handle sharp swings and want exposure to India’s tourism and travel ecosystem rather than a diversified core equity allocation.

The fund’s recent pattern is uneven: the short-term recovery has been better than the one-year outcome, but the benchmark comparison still leaves room for caution. The portfolio is also concentrated, with the largest positions carrying meaningful weight, so performance may move quickly with a few listed travel, aviation and hospitality names.

Quick facts

Particular	Details
NAV	₹8.8486 as of 10 Sep 2026
AUM	₹263 Cr
Expense Ratio	0.46%
Launch Date	24 Jul 2024
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.25% on or before 15D
Fund Managers	Nitin Sharma, Rakesh Prajapati

The fund is managed by Nitin Sharma and Rakesh Prajapati.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.62%	-4.06%
3M	7.14%	1.37%
1Y	-16.16%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The latest three-month stretch has been meaningfully better than the one-year picture, which tells us the fund has had periods of rebound after a weaker phase. That matters because tourism-linked businesses often respond quickly to changes in travel demand, pricing power and sentiment, so returns can improve fast, but they can also retreat just as quickly.

Against the benchmark, the fund has been ahead over 3 months but behind over 1 year. The one-month move was slightly weaker than the benchmark as well, which suggests the recent recovery has not yet turned into broad, steady outperformance. In our view, the short-term trend is better than the trailing one-year figure, but not strong enough to call the path smooth.

The longer-term view is limited because the scheme was launched in July 2024, so 3-year and 5-year figures are not available. That leaves the 1-year record as the main evidence base, and that record is weak relative to the benchmark. For a sector-themed index fund, the key question is whether an investor is comfortable waiting through uneven phases for the underlying tourism cycle to play out.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Tata Nifty India Tourism 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
Tata Nifty India Tourism Index Fund Direct Growth Plan	-16.16%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	33.08%	30.07%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.95%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.94%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	24.33%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	23.74%	Data not available	Data not available

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

The peer set shows a clear split in recent outcomes. The current fund’s 1-year return is well below the two defence index funds, the Nasdaq 100 index fund and the capital markets index funds listed here, while its 3-month recovery has been stronger than the benchmark but still modest next to the best recent peer figures. That makes the short-term comparison less encouraging than the simple 3-month rebound might suggest.

Where the current fund is also different is that the available longer-horizon peer figures are far more developed for some peers, especially the Nasdaq 100 fund, which helps show how much this thematic tourism strategy is still in its early life. Since 3-year and 5-year figures are unavailable for the current fund, the peer comparison mostly reinforces the point that its recent one-year stretch has been weak, while the short-term bounce has not yet changed the broader picture.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Indian Hotels Co. Ltd	Hospitality	20.51%
Interglobe Aviation Ltd	Aviation	20.27%
GMR Airports Ltd	Infrastructure	15.19%
Jubilant Foodworks Ltd	FMCG	8.85%
ITC Hotels Ltd	Domestic Equities	8.18%
Indian Railway Catering and Tourism Corporation Ltd	Hospitality	6.62%
Chalet Hotels Ltd	Hospitality	2.94%
Tbo Tek Ltd	Hospitality	2.73%
Devyani International Ltd	FMCG	2.69%
Eih Ltd	Hospitality	2.55%

The largest holding, Indian Hotels Co. Ltd, carries a weight of 20.51%, so it is likely to have greater influence on the fund than any single smaller position. The next few holdings are also sizable, with Interglobe Aviation Ltd at 20.27% and GMR Airports Ltd at 15.19%, which means the top end of the portfolio is heavily anchored to a small group of travel-linked businesses.

Weight then falls to 8.85% for Jubilant Foodworks Ltd and 8.18% for ITC Hotels Ltd before easing to 6.62% in Indian Railway Catering and Tourism Corporation Ltd. The decline continues into the mid-to-low single digits by the seventh through tenth positions, which suggests that the disclosed holdings are not evenly spread; a handful of names may drive a large share of the day-to-day movement.

The top 10 holdings account for approximately 90.53% of the portfolio, and the scheme discloses 15 holdings in total. That combination points to a fairly concentrated structure with a shorter tail beyond the visible holdings, so portfolio outcomes may depend meaningfully on how the leading hospitality, aviation and related names perform.

To see all holdings, visit the Tata Nifty India Tourism Index Fund Direct Growth Plan page

Source data date: as of 10 Sep 2026

Who should invest

This fund suits investors with a high tolerance for volatility and a clear view that sector-led swings are acceptable in exchange for focused exposure to India’s tourism and travel theme. The weak one-year record versus the benchmark, along with the absence of longer-horizon history, makes it better suited to investors who can stay patient through uneven stretches rather than those seeking a stable core holding.

Our view is that the investment horizon should be medium to long term if the theme is to be given time to play out. The main trade-off is concentration: the portfolio is heavily anchored to a few travel, airline, airport and hospitality names, so the fund may rise quickly when the theme is in favour and lag when sentiment weakens.

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

• 0.25% if units are sold on or before 15 days.
• No exit load after that holding period.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Tata Nifty India Tourism Index Fund Direct Growth Plan?

The current NAV is ₹8.8486 as of 10 Sep 2026.

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

The 1-year return is -16.16%, while the 3-year and 5-year returns are both 0% in the supplied record, which we treat as Data not available for a meaningful comparison because the scheme is too new for those periods.

How has the fund done versus its benchmark?

It has lagged the benchmark over 1 year, with -16.16% versus -7.31%, but it has been ahead over 3 months at 7.14% versus 1.37% and slightly behind over 1 month at -4.62% versus -4.06%.

How does it compare with the peer funds shown here?

Its 1-year return trails the peer figures listed for ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan, Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan, Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan, Tata Nifty Capital Markets Index Fund Direct Growth Plan and Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan. The current fund’s 3-year and 5-year figures are not available for a like-for-like comparison.

Is there a minimum SIP amount?

Yes. The minimum SIP amount is ₹100.

What are the portfolio concentration and exit-load features?

The top 10 holdings account for 90.53% of the portfolio, which points to a concentrated structure. The exit load is 0.25% if units are sold on or before 15 days, and there is no exit load after that holding period.

Bottom line

This fund’s short-term rebound is better than its one-year record, but the broader picture remains weak versus the benchmark and mixed against peers on available return data. The structure is concentrated, with a few large travel, aviation and hospitality names carrying substantial weight, so the fund may move sharply with theme sentiment. It is best suited to investors who understand the volatility of a focused tourism allocation and are comfortable waiting through uneven stretches.

Published on 11 September 2026 at 3:42 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.