Tata Nifty Midcap 150 Momentum 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Tata Nifty Midcap 150 Momentum 50 Index Fund Direct Growth Plan has a NAV of ₹18.1461 as of 16 Sep 2026 and an AUM of ₹1,274 Cr. Its 1-year, 3-year and 5-year returns are 0.51%, 13.51% and 0%, respectively, and the scheme sits in the High Risk bucket. Our view is that this is a relatively narrow, momentum-led midcap index strategy that can suit investors who can tolerate sharp swings and are willing to hold through uneven stretches.

The fund has not produced a steady short-term run, but its 3-year outcome is clearly better than its recent 1-year figure, which points to a choppier path rather than smooth compounding. The combination of a High Risk profile, concentrated top holdings and a midcap momentum framework makes it more relevant for investors who want a satellite allocation, not a core conservative holding.

Quick facts

Particular	Details
NAV	₹18.1461 as of 16 Sep 2026
AUM	₹1,274 Cr
Expense Ratio	0.44%
Launch Date	20 Oct 2022
Min SIP	₹150
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.25% on or before 90D, Nil after 90D
Fund Managers	Nitin Sharma, Rakesh Prajapati

The fund is managed by Nitin Sharma and Rakesh Prajapati.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.84%	-4.41%
3M	-3.87%	-3.6%
1Y	0.51%	-7.76%
3Y	13.51%	5.74%
5Y	Data not available	Data not available

The recent picture is mixed rather than uniform. The fund has been soft over the last month and quarter, but both periods were better than the benchmark, which suggests it held up a little more effectively in a weak stretch even though it still fell. That kind of pattern is common in a momentum-style midcap strategy: when the tape is weak, short-term returns can slip quickly, but the relative drawdown may still be less severe than the broader reference index.

Looking across the longer window, the 3-year return is the more useful signal here. At 13.51%, the fund is comfortably ahead of the benchmark’s 5.74%, so the strategy has rewarded patient investors over that span. The 1-year figure is much flatter at 0.51%, which tells us the latest stretch has been less productive than the multi-year period. In other words, the fund’s medium-term track record is stronger than its recent one-year run.

The 5-year return is not available in a meaningful way because the scheme launched on 20 Oct 2022, so the longer track record is limited by history rather than by performance choice. That matters for interpretation: the available numbers do not yet describe a full market cycle. Even so, the data we do have show a pattern of higher medium-term growth but uneven shorter-term movement, which fits a more cyclical midcap momentum allocation than a steady compounding profile.

Source data date: as of 16 Sep 2026

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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 Midcap 150 Momentum 50 Index Fund Direct Growth Plan	0.51%	13.51%	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.45%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.13%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.68%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	17.57%	18.84%	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 result is far below the strongest peer figures shown here, while the 3-year number is more competitive than some of the peers with multi-year data available. That split matters: the short-term picture does not look strong relative to the peer set, but the medium-term result is not weak. We read that as a fund whose recent stretch has lagged several peer options, even though its longer run has held up better.

For investors comparing multi-year outcomes, the 3-year number gives this fund a better story than its 1-year figure. By contrast, peers with strong 1-year readings are ahead in recent momentum, which underlines how much return leadership can change across time frames. The comparison therefore points to a fund that has been more modest recently but still has a respectable medium-term base.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Laurus Labs Ltd	Healthcare	6.32%
Multi Commodity Exchange of Ind Ltd	Finance	5.75%
Federal Bank Ltd	Bank	4.81%
Bharat Heavy Electricals Ltd	Capital Goods	4.42%
Ge Vernova T&D India Ltd	Capital Goods	4.23%
BSE Ltd	Finance	4.06%
Bharat Forge Ltd	Automobile & Ancillaries	3.98%
Hitachi Energy India Ltd	Capital Goods	3.63%
National Aluminium Co. Ltd	Non – Ferrous Metals	3.35%
Polycab India Ltd	Electricals	3.32%

The largest holding, Laurus Labs Ltd, carries a weight of 6.32%, which is meaningful but not extreme for a single-stock position in an index strategy. The tenth holding is still at 3.32%, so the drop from the first to the tenth position is fairly gradual rather than abrupt. That suggests the top slice is spread across multiple companies instead of being dominated by one or two outsized names.

The top 10 holdings account for approximately 43.87% of the portfolio, and the scheme has 46 disclosed holdings in total. That combination points to a portfolio that is not excessively top-heavy at the very first position, yet it still shows a noticeable concentration in the leading names. In practical terms, the biggest holdings could influence returns more than the rest of the list, but the exposure appears broad enough to leave room for other positions to matter as well.

Because there are 46 disclosed holdings, the tail beyond the top 10 is likely to contribute to diversification, even though we do not have the full weight pattern for each remaining position here. Our view is that this looks like a moderately concentrated index portfolio rather than a fully diffuse one. The heavier weights in finance, capital goods and healthcare may make sector rotation important, but the overall structure still leaves the fund with a spread of holdings instead of a single-theme bet.

To see all holdings, visit the Tata Nifty Midcap 150 Momentum 50 Index Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund is better suited to investors who can handle High Risk and are comfortable with a midcap momentum approach that can move sharply over short stretches. The 3-year return profile is more encouraging than the 1-year result, so the fund makes more sense for someone with a longer horizon who can tolerate uneven phases rather than expecting a smooth monthly path.

The main trade-off is that the strategy can deliver stronger medium-term gains, but recent performance has been less consistent and the benchmark comparison is not uniformly strong over shorter windows. Investors looking for steadier behaviour or lower volatility may find the ride uncomfortable, while those using it as a satellite allocation may accept the fluctuations for the possibility of stronger multi-year outcomes.

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% on or before 90D, Nil after 90D.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Tata Nifty Midcap 150 Momentum 50 Index Fund Direct Growth Plan?
Its NAV is ₹18.1461 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 0.51% over 1 year, 13.51% over 3 years and Data not available for 5 years.

How has it performed against the benchmark?
It has beaten the benchmark over 1 year and 3 years. The 1-year return is 0.51% versus -7.76% for the benchmark, and the 3-year return is 13.51% versus 5.74%.

How does it compare with the peer funds listed here?
Its 1-year return is much lower than the strongest peer figures shown here, while its 3-year return is more competitive than some peers with comparable multi-year data. That makes the short-term and medium-term comparisons tell different stories.

What is the minimum SIP amount?
The minimum SIP amount is ₹150.

Who manages the fund and what is the exit load?
The fund is managed by Nitin Sharma and Rakesh Prajapati. The exit load is 0.25% on or before 90D, and nil after 90D.

Bottom line

This fund’s recent numbers are mixed, but its 3-year return is much better than its 1-year figure, so the medium-term picture is stronger than the latest stretch. Against the benchmark, it has stayed ahead across the displayed horizons, while the peer set shows that its short-term return is well behind several alternatives even as the 3-year outcome remains respectable. With a High Risk profile and a top-heavy-but-not-extreme portfolio, it suits investors who can tolerate volatility and want a midcap momentum exposure rather than a steadier core holding.

Published on 17 September 2026 at 5:51 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.