Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund Direct Growth Plan has a NAV of ₹12.3921 as of 10 Sep 2026 and a scheme AUM of ₹140 Cr. Its 1-year, 3-year and 5-year returns are 7.24%, 0% and 0%, and it sits in the High Risk category.

Our view is that this is a concentrated thematic index fund with a modest operating cost and a short live history, so it is better read as a targeted exposure than a broad core holding. The recent return profile is positive over 1 year, but there is no longer track record yet to judge the 3-year and 5-year spans.

Quick facts

Particular	Details
NAV	₹12.3921 as of 10 Sep 2026
AUM	₹140 Cr
Expense Ratio	0.5%
Launch Date	26 Apr 2024
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.25% on or before 15D, Nil after 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	-2.43%	-4.06%
3M	6.12%	1.37%
1Y	7.24%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is mixed but constructive. Over 1 month the fund was down, yet it still held up better than the benchmark in the same stretch, which suggests the fund has recently been less weak than the index on a short horizon.

The 3-month return is the clearest positive point in the current window. The fund outpaced the benchmark by a wide margin there, which tells us the newer manufacturing-oriented exposure has had a stronger run than the broad index over that period.

Over 1 year, the gap is even more striking because the fund is positive while the benchmark is negative. That does not remove volatility, but it does show that this strategy has behaved differently from the index over the last year rather than simply tracking it in lockstep.

The challenge is that there is no 3-year or 5-year history yet, so we cannot judge whether the recent strength is durable through a full cycle. For now, the return picture supports interest in the theme, but not confidence in a long record.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Tata Nifty500 Multicap India Manufacturing 50:30:20 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 Nifty500 Multicap India Manufacturing 50:30:20 Index? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund Direct Growth Plan	7.24%	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.

Against the listed peers, the fund’s 1-year return is much lower than the stronger recent performers in the table, but it still remains positive while some peers are also only available on a 1-year basis. That makes the short-term comparison less about outperformance and more about scale: the fund has had a steadier, but clearly more muted, 1-year run.

The lack of 3-year and 5-year figures means the longer-horizon comparison is incomplete for this fund, whereas one peer does show a strong 3-year result. So the peer set tells two different stories: the fund’s recent period is positive, but the longer history needed to test durability is not yet present.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Reliance Industries Ltd	Crude Oil	9.46%
Mahindra & Mahindra Ltd	Automobile & Ancillaries	6.12%
Sun Pharmaceutical Industries Ltd	Healthcare	4.39%
Maruti Suzuki India Ltd	Automobile & Ancillaries	3.69%
Tata Steel Ltd	Iron & Steel	3.18%
Bharat Electronics Ltd	Capital Goods	3.1%
Hindalco Industries Ltd	Non – Ferrous Metals	3.07%
Bajaj Auto Ltd	Automobile & Ancillaries	2.81%
JSW Steel Ltd	Iron & Steel	2.56%
Divi Laboratories Ltd	Healthcare	2.51%

The largest holding, Reliance Industries Ltd, carries a 9.46% weight, so it is big enough to matter, but not so large that the portfolio rests on a single name alone. The next positions step down quickly, with Mahindra & Mahindra Ltd at 6.12% and the tenth holding at 2.51%, which indicates a visible taper in influence as you move down the list.

The top 10 holdings together account for approximately 40.89% of the portfolio, and the scheme discloses 55 holdings in total. That suggests the fund is not a one- or two-stock story, yet the visible part of the book still leans toward a relatively important top cluster that may have greater influence on short-run moves.

Because there are more holdings beyond the top 10, the tail can still matter, but the disclosed structure points to a mix of concentration and breadth rather than full dispersion. In practice, that may create a balance where a few large names shape the experience while a wider set of holdings contributes to diversification.

To see all holdings, visit the Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund Direct Growth Plan page

Source data date: as of 10 Sep 2026

Who should invest

This fund suits investors who can accept a High Risk profile and who are comfortable with a strategy that may move differently from the broad market. The recent return pattern is better than the benchmark over 1 month, 3 months and 1 year, but the short history means the longer-term test is still incomplete.

It is more appropriate for an intermediate-to-longer investment horizon than for someone looking for stability or a long published track record. The main trade-off is that investors get a focused manufacturing-linked index exposure with a relatively modest expense ratio, but they must accept uncertainty about how the theme behaves across a full market cycle.

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 15D, Nil after 15D.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund Direct Growth Plan?

The current NAV is ₹12.3921 as of 10 Sep 2026.

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

The fund’s 1-year return is 7.24%, while the 3-year and 5-year returns are Data not available.

How does the fund compare with its benchmark?

It has done better than the benchmark over 1 month, 3 months and 1 year. The benchmark’s 1-year return is -7.31%, while the fund’s is 7.24%.

How does it compare with the listed peer funds?

Its 1-year return is below the stronger recent peer figures shown, such as 33.08%, 26.95%, 26.94%, 24.33% and 23.74%. The fund still has positive recent performance, but its longer-term figures are not yet available.

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 0.25% on or before 15D, and nil after 15D.

Bottom line

This fund’s recent return pattern is stronger than its benchmark, but its longer-term history is still too short to judge durability across a full cycle. Relative to the peer list, its 1-year return is more muted, while the absence of 3-year and 5-year figures leaves the longer comparison incomplete. The High Risk label and the concentrated top holdings suggest a theme-led portfolio where a few names matter meaningfully, so it may fit investors who want targeted manufacturing exposure rather than a core all-weather fund.

Published on 11 September 2026 at 1:03 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.