Union Diversified Equity All Cap Active FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Union Diversified Equity All Cap Active FOF Direct Growth Plan has a NAV of ₹10.6952 as of 16 Sep 2026 and scheme AUM of ₹204 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0%, and 0%, and the fund sits in the High Risk category. Our view is that it is best assessed as a newly launched, high-volatility option where the current portfolio structure matters more than any trailing multi-year history.

Because the scheme was launched on 22 Sep 2025, the long-term return record is still too short to judge across full market cycles. The portfolio is built almost entirely from other Union equity funds, which makes the outcome depend heavily on the underlying funds’ own moves rather than on broad diversification across unrelated assets.

Quick facts

Particular	Details
NAV	₹10.6952 as of 16 Sep 2026
AUM	₹204 Cr
Expense Ratio	0.46%
Launch Date	22 Sep 2025
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Exit Load	1% on or before 1Y, Nil after 1Y
Fund Managers	Gaurav Chopra, Pratik Dharmshi

The fund is managed by Gaurav Chopra and Pratik Dharmshi.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.44%	-4.41%
3M	2.63%	-3.6%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term profile is mixed. Over 1 month, the fund was down 3.44%, but it still held up better than the benchmark’s 4.41% decline. Over 3 months, the fund was up 2.63% while the benchmark was down 3.6%, which suggests the underlying portfolio had a stronger recovery pattern than the index over that stretch.

The daily pattern within the 3-month stretch shows a generally improving trend with brief pullbacks, rather than a smooth climb. That matters because a fund of funds can move differently from a broad equity index when its underlying holdings are themselves diversified equity schemes. In practice, that can soften some index swings in one window and amplify them in another.

The longer-term read is limited by the fund’s recent launch. There is no 1-year, 3-year or 5-year performance history to compare against the benchmark in a meaningful trailing sense, so our view is that investors should treat the current figures as early behaviour rather than a mature track record.

As a result, the main performance takeaway is that recent momentum has been better than the benchmark over the 3-month period, but the scheme still lacks the history needed to judge repeatability across a full market cycle.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Union Diversified Equity All Cap Active 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.

Already holding Union Diversified Equity All Cap Active FOF? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Union Diversified Equity All Cap Active FOF Direct Growth Plan	Data not available	Data not available	Data not available
Baroda BNP Paribas Gold ETF FoF Direct Growth Plan	34.39%	Data not available	Data not available
HDFC Innovation Fund Direct Growth Plan	14.3%	Data not available	Data not available
Bajaj Finserv Small Cap Fund Direct Growth Plan	13.33%	Data not available	Data not available
Quant Equity Savings Fund Direct Growth Plan	8.75%	Data not available	Data not available
Kotak Active Momentum Fund Direct Growth Plan	6.31%	Data not available	Data not available

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

The current fund has no available 1-year trailing return, so the peer table is useful mainly as a context check rather than as a direct comparison on a common horizon. Among the peers with 1-year figures, the headline returns are much stronger, but those schemes are operating in different strategies, so the comparison should be read as a broad reference point, not a ranking.

For longer horizons, the current fund does not yet have 3-year or 5-year numbers, so the comparison cannot support a mature relative view. The available peer data also does not add a longer-horizon story here, because those rows do not show 3-year or 5-year returns. So the short-term comparison is the only useful one, and it points to a fund that is still too early in its life to stand beside established peers on a full-cycle basis.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Union Multicap Fund – Direct Plan – Grow	Domestic Mutual Funds Units	55.72%
Union Small Cap Fund – Growth	Domestic Mutual Funds Units	16.5%
Union Midcap Fund – Direct Plan – Growth	Domestic Mutual Funds Units	12.13%
Union Large & Midcap Fund – Direct Plan	Domestic Mutual Funds Units	9.67%
Union Largecap Fund – Direct Plan	Domestic Mutual Funds Units	4.46%
TREPS	Cash & Cash Equivalents and Net Assets	1.68%

The largest holding, Union Multicap Fund – Direct Plan – Grow, carries a 55.72% weight, so it is likely to have the greatest influence on the scheme’s behaviour. The next four positions are also sizeable, but the drop from 55.72% to 16.5% is steep, which tells us the portfolio is anchored by one dominant allocation rather than balanced evenly across many sleeves.

The remaining holdings step down again to 12.13%, 9.67%, 4.46% and 1.68%. That pattern suggests the fund may behave more like a concentrated wrapper around a small set of underlying equity funds than like a widely spread basket. In other words, the top positions could drive most of the outcome, while the smaller sleeve adds only a limited buffer.

There are 6 disclosed holdings, and the displayed positions account for 100% of the portfolio. That means the structure is fully visible and fairly compact, with very little left outside the shown holdings. For investors, the key point is that diversification exists through the underlying funds, but the top allocation still has a strong say in the overall return path.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and are comfortable with a product that is still early in its history. The 3-month bounce has been better than the benchmark, but the absence of a meaningful 1-year, 3-year or 5-year track record means the evidence base is thin.

The setup is more suitable for a longer horizon rather than a short holding period, especially because the portfolio is concentrated in a few underlying Union equity funds. The main trade-off is between the possibility of differentiated equity exposure and the reality that one dominant holding can shape outcomes quite heavily.

For investors comparing it with a plain benchmark-linked equity fund, the appeal lies in its fund-of-funds structure. The cost of that structure is that returns may be less straightforward to judge, especially before the scheme has lived through multiple market phases.

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 1Y, Nil after 1Y.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Union Diversified Equity All Cap Active FOF Direct Growth Plan?
The NAV is ₹10.6952 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are 0%, 0% and 0% because the scheme is too new for those trailing figures to be meaningful.

How has it done versus the benchmark recently?
It fell 3.44% over 1 month and rose 2.63% over 3 months, while the benchmark fell 4.41% and 3.6% over the same periods. That makes the recent stretch better than the benchmark.

How does it compare with the peer funds shown here?
The current fund does not have a 1-year trailing return, while the peer funds shown have 1-year figures ranging from 6.31% to 34.39%. The current scheme is therefore too early for a direct performance comparison on that horizon.

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 Gaurav Chopra and Pratik Dharmshi. The exit load is 1% on or before 1 year and nil after 1 year.

Bottom line

This is a High Risk fund with a very short track record, so the recent 3-month improvement matters more than the unavailable 3-year and 5-year history. Compared with the peers shown, the current scheme does not yet have a trailing return history to place beside them, but it has recently been more resilient than the benchmark. The portfolio is concentrated in a few underlying Union equity funds, so one dominant allocation can shape results. That makes it better suited to investors who understand early-stage uncertainty and want a concentrated fund-of-funds structure.

Published on 17 September 2026 at 11:20 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.