Tata Nifty Midcap 150 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Tata Nifty Midcap 150 Index Fund Direct Growth Plan has a NAV of ₹10.6494 as of 15 September 2026 and scheme assets of ₹332 Cr. Its 1-year, 3-year and 5-year returns are 3.46%, 0% and 0%, respectively, and the fund sits in the High Risk bucket. In our view, the short track record and uneven recent return profile make it better suited to investors who want midcap exposure through a rule-based index approach and can stay patient through volatility.

The fund is still early in its life, so the main question is not long history but whether the recent trend is stable enough for an investor’s time horizon. The answer is mixed: the latest year has been positive, but the fund has moved through weaker shorter stretches, so it is more appropriate for investors who can tolerate sharp swings rather than those looking for steady near-term outcomes.

Quick facts

Particular	Details
NAV	₹10.6494 as of 15 Sep 2026
AUM	₹332 Cr
Expense Ratio	0.11%
Launch Date	19 Jun 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.50% on or before 30D, Nil after 30D
Fund Managers	Nitin Sharma, Rakesh Prajapati

The fund is managed by Nitin Sharma and Rakesh Prajapati.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.63%	-4.81%
3M	-1.2%	-3.63%
1Y	3.46%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Recent behaviour has been choppy. Over the 1-month period, the fund fell, but the decline was slightly smaller than the benchmark’s drop. Over 3 months, the fund also remained negative, yet it held up better than the benchmark by a meaningful margin. That pattern suggests the strategy has not been immune to weakness, but it has recently absorbed the decline a little better than the benchmark.

The 1-year return is the clearest positive point in the table. At 3.46%, the fund is ahead of the benchmark’s -8.27% over the same span, which tells us the fund has navigated the year far better than the benchmark line referenced here. Even so, the short history means there is not enough multi-year evidence to call the path smooth or consistent.

The time pattern also matters. The one-year series shows an earlier drawdown followed by recovery, then a softer patch near the end. The three-month pattern is more constructive than the one-month move, but not strong enough to remove volatility concerns. Our view is that this is a fund whose recent year has been better than the benchmark, yet whose shorter stretches still remind investors that midcap-linked outcomes can change quickly.

There is no 3-year or 5-year return history available to assess compounding over longer market cycles. That limits how confidently we can judge whether the 1-year improvement is durable. For now, the evidence supports a view that the fund can participate in recovery phases, but it has not yet established a long record of consistency.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Tata Nifty Midcap 150 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.

Already holding Tata Nifty Midcap 150 Index? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
Tata Nifty Midcap 150 Index Fund Direct Growth Plan	3.46%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	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	21.45%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.15%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.11%	18.92%	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 much lower than the peer set shown here, while the 3-year and 5-year figures cannot be compared because they are not available. Among the peers with longer records, the available 3-year numbers are materially stronger than the current fund’s latest year, which highlights how short the fund’s own history still is. The short-term picture and the longer-term peer picture do not tell the same story, so we place more weight on caution than on a single recent recovery.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
BSE Ltd	Finance	3.17%
Federal Bank Ltd	Bank	2.08%
Multi Commodity Exchange of Ind Ltd	Finance	2.05%
Laurus Labs Ltd	Healthcare	1.76%
One 97 Communications Ltd	IT	1.71%
Hero Motocorp Ltd	Automobile & Ancillaries	1.67%
Coforge Ltd	IT	1.63%
Indusind Bank Ltd	Bank	1.58%
PB Fintech Ltd	IT	1.53%
Bharat Heavy Electricals Ltd	Capital Goods	1.52%

The largest holding is BSE Ltd at 3.17%, which is not an outsized single-stock weight by itself, but it is still the biggest line in the portfolio. The decline from the first holding to the tenth is measured rather than abrupt, moving from 3.17% down to 1.52%, so the top names are meaningful without any one position dominating the visible basket.

The top 10 holdings account for approximately 18.7% of the portfolio. With 82 disclosed holdings in total and more holdings beyond the top 10, the structure appears fairly spread out across a long tail rather than concentrated only in a small handful of positions. That broader spread may reduce dependence on any single company, while still leaving the fund sensitive to midcap style swings because the weights are focused in a set of individual stock bets.

To see all holdings, visit the Tata Nifty Midcap 150 Index Fund Direct Growth Plan page

Source data date: as of 15 Sep 2026

Who should invest

This fund is better aligned with investors who can handle High Risk exposure and do not need stable short-term outcomes. The 1-year return is positive, but the 1-month and 3-month periods show that swings can still be sharp, so a longer holding horizon matters more than chasing the latest move.

It may suit someone looking for a midcap-style allocation through an index strategy and who is comfortable with performance that can trail or beat the benchmark at different points in time. The main trade-off is accepting volatility in exchange for participation in a broader midcap basket that is not driven by a single theme or a small number of stocks.

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: 0.50% on or before 30D, Nil after 30D.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Tata Nifty Midcap 150 Index Fund Direct Growth Plan?
Its NAV is ₹10.6494 as of 15 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 3.46%, while the 3-year and 5-year returns are not available.

How has the fund performed against its benchmark recently?
It has done better than the benchmark over 1 year and 3 months, and it was only slightly less negative over 1 month.

How does it compare with the peer funds listed here?
Its latest 1-year return is below the peer figures shown in the comparison table, while the longer-horizon peer data available there is stronger than this fund’s short record.

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

Who manages the fund and what is the exit load?
The fund is managed by Nitin Sharma and Rakesh Prajapati. The exit load is 0.50% on or before 30D and nil after 30D.

Bottom line

Tata Nifty Midcap 150 Index Fund Direct Growth Plan has a better 1-year showing than its benchmark, but the shorter 1-month and 3-month moves still show a volatile path. It also lacks long-horizon return history, so the case rests more on recent resilience than on a proven multi-year record. The portfolio is spread across many holdings, with the top 10 accounting for 18.7% of assets and 82 holdings disclosed overall. That makes it suitable for investors who can accept high risk and a long holding period.

Published on 16 September 2026 at 5:54 PM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.