UTI Innovation Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

UTI Innovation Fund Direct Growth Plan has a NAV of ₹11.9291 as of 17 Sep 2026 and a scheme AUM of ₹837 Cr. Its 1-year, 3-year and 5-year returns are -2.78%, 0% and 0%, and the scheme sits in the High Risk bucket. Our view is that this is a fund for investors who can accept a bumpy path in exchange for exposure to a concentrated, innovation-led portfolio; the recent return pattern is uneven, so it needs a patient horizon and a comfort with volatility.

The fund may suit investors who can tolerate sharp swings and want a differentiated equity approach rather than a broad-market style. It has not yet built a long return record, so the current fit depends more on the risk profile, stock selection, and time horizon than on a deep performance history.

Quick facts

Particular	Details
NAV	₹11.9291 as of 17 Sep 2026
AUM	₹837 Cr
Expense Ratio	0.88%
Launch Date	13 Oct 2023
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 12M, Nil after 12M
Fund Managers	Nitin Jain

The fund is managed by Nitin Jain.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.56%	-3.66%
3M	5.15%	-3.71%
1Y	-2.78%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term pattern has been mixed. Over one month, the fund was negative, but the fall was smaller than the benchmark’s decline, which tells us the portfolio held up a little better in a weak market. The three-month figure is more encouraging because the fund stayed positive while the benchmark was still negative.

The one-year number is still below zero, so this is not yet a smooth compounding story. Even so, the fund has done better than Nifty 50 over every available period in the table, which suggests that its stock selection has been able to soften some of the benchmark’s weakness and capture some upside in rebounds.

The path has also looked choppy rather than linear, especially across the shorter windows. That matters because a fund with this risk profile can move quickly in both directions, and the recent swings show that gains and drawdowns can arrive close together.

Since there is no 3-year or 5-year history available in the displayed return series, we treat the evidence base as early-stage. Our reading is that the fund has shown better resilience than the benchmark so far, but it still needs a longer track record before the return pattern can be judged as established.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD UTI Innovation?

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
UTI Innovation Fund Direct Growth Plan	-2.78%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.8%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	Data not available	Data not available

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

On the one-year view, the fund trails the stronger peer figures quite sharply, while the leading peer returns in this set are much higher. That means the fund has not matched the recent upside shown by several thematic peers, even though it has held up better than the benchmark in the same period.

The longer-view comparison is limited because the current fund does not have displayed 3-year or 5-year returns, while one peer does show a solid 3-year figure. So the peer set tells two different stories: the current fund has been steadier against the benchmark in the near term, but it does not yet show the deeper multi-year return history that some peers can point to.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eq – Eternal Limited	Retailing	9.48%
Eq – Info-Edge (India) Ltd.	IT	8.96%
Eq – One 97 Communications Ltd	IT	6.18%
Eq – FSN E-Commerce Ventures(Nykaa)	Retailing	5.65%
Eq – Affle 3I Limited	IT	5.47%
Eq – Rategain Travel Technologies Ltd	IT	4.49%
Eq – Acutaas Chemicals Limited	Healthcare	4.35%
Eq – PB Fintech Ltd	IT	4.21%
Eq – Gravita India Ltd.	Non – Ferrous Metals	3.48%
Eq – Nazara Technologies Ltd	IT	3.29%

The largest disclosed holding is Eternal Limited at 9.48%, which means a single position can have a noticeable influence on short-term fund movement. The next few positions also sit in the mid-single digits, so the portfolio is not reliant on one huge outlier, but it is still clearly shaped by a handful of names.

Weight falls from 9.48% in the largest holding to 3.29% in the tenth holding, which is a fairly sharp drop. That pattern suggests the portfolio is tilted toward a core set of companies, with less weight spreading into the lower end of the top-ten list.

The displayed top 10 holdings together account for approximately 55.56% of the portfolio, and there are 33 disclosed holdings overall. Our view is that this points to meaningful concentration in the bigger ideas, while the remaining positions form a longer tail that may help diversify the scheme without changing the fact that the top names can matter a lot.

To see all holdings, visit the UTI Innovation Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund fits investors with a high tolerance for price swings and a willingness to hold through uneven periods. The one-year result is still negative, but it has held up better than the benchmark across the available windows, which points to a differentiated but still volatile equity approach.

The portfolio also matters here: the top holdings are concentrated enough that individual names may move the fund meaningfully, so a long investment horizon is important. The main trade-off is that you may get a more distinctive innovation-led exposure, but you must accept drawdowns and a return pattern that is not yet smooth over time.

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 is 1% if units are sold within 12 months, and nil after 12 months.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of UTI Innovation Fund Direct Growth Plan?

The current NAV is ₹11.9291 as of 17 Sep 2026.

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

The fund’s 1-year return is -2.78%, while the 3-year and 5-year returns are Data not available.

How has the fund done against Nifty 50?

It has beaten Nifty 50 in every available period shown here. The fund is less negative over 1 month, positive over 3 months, and better than the benchmark over 1 year.

Which peer fund has the strongest 1-year return in the comparison set?

ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan has the strongest 1-year return in the comparison set at 69.8%.

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 Nitin Jain. The exit load is 1% if units are sold within 12 months and nil after 12 months.

Bottom line

UTI Innovation Fund Direct Growth Plan has shown a mixed but relatively better-than-benchmark near-term path, even though the 1-year return is still negative. Against peers, it looks weaker on recent return figures than several thematic funds, but the comparison is also incomplete because its longer-horizon return history is not displayed here. The High Risk tag and concentrated portfolio make it a fund for investors who can stay patient and tolerate swings, especially if they want a more differentiated equity exposure.

Published on 18 September 2026 at 9:43 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.