UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund Direct Growth Plan is an index fund with a latest NAV of ₹11.4883 as of 15 Sep 2026 and scheme AUM of ₹133 Cr. Its 1-year, 3-year and 5-year returns are 6.03%, 0% and 0%, and the fund sits in the High Risk category. Our view is that the fund may suit investors who can tolerate sharp swings and want exposure to a focused mid-smallcap theme, but the short track record and uneven recent behaviour mean it is better assessed as a high-volatility allocation than a steady core holding.

It has been live since 13 Feb 2025, so the performance record is still short. The current portfolio is tilted toward financials, healthcare, capital goods and industrial names, which can amplify movement when those themes are in favour and can also drag when leadership changes.

Quick facts

Particular	Details
NAV	₹11.4883 as of 15 Sep 2026
AUM	₹133 Cr
Expense Ratio	0.66%
Launch Date	13 Feb 2025
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Sharwan Kumar Goyal, Ayush Jain, Lokesh Kulthia

The fund is managed by Sharwan Kumar Goyal, Ayush Jain and Lokesh Kulthia.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.84%	-4.81%
3M	-1.67%	-3.63%
1Y	6.03%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern has been mixed, but the fund has done better than the benchmark over the displayed 1-month, 3-month and 1-year periods. That matters because the benchmark has been weak over the same horizons, especially over 1 year, where the fund remained positive while the benchmark was negative.

The shorter-horizon behaviour also suggests a volatile path rather than a smooth climb. The 1-month and 3-month figures are both negative, which means the fund has not been immune to near-term pressure even though it stayed ahead of the benchmark in those windows. For a newer fund, that kind of back-and-forth is important because it shows the strategy can move sharply with market sentiment.

There is not yet a 3-year or 5-year record here, so we do not see a full cycle to judge how the fund behaves across different market phases. What we can say is that the 1-year result is stronger than the benchmark, while the recent month and quarter show some giveback after earlier gains. That combination points to a strategy that can participate when its segment is working, but may also retrace quickly when conditions turn.

For investors, the main question is whether they want exposure that can outpace a broad benchmark in favourable periods while accepting a choppier ride in weaker stretches. On the current record, the fund has shown that pattern clearly enough to deserve attention, but not enough to support a long-run conclusion beyond its limited history.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD UTI Nifty Midsmallcap 400 Momentum Quality 100 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund Direct Growth Plan	6.03%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.71%	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 fund’s 1-year return is well below the strongest peer figures shown here, although its 3-year and 5-year entries are not available yet, so the comparison is mainly about the recent stretch. Among peers with longer history, the available 3-year numbers are far stronger than this fund’s current record, which underlines how early-stage performance can look very different from more seasoned schemes.

The short-term comparison tells a cautious story for this fund because several peers have much higher 1-year returns. The longer-term comparison is less direct, since this fund does not yet have a 3-year or 5-year track record, but the available peer history shows that investors are comparing a young strategy against far more established results.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eq – Laurus Labs Ltd.	Healthcare	4.36%
Eq – Federal Bank Ltd.	Bank	4.35%
Eq – BSE Ltd	Finance	4.16%
Eq – Multi Commodity Exchange of in	Finance	3.69%
Eq – Bharat Forge Ltd.	Automobile & Ancillaries	2.89%
Eq – Polycab India Ltd	Electricals	2.74%
Eq – Ge Vernova T & D India Ltd	Capital Goods	2.55%
Eq – Hitachi Energy India Ltd	Capital Goods	2.55%
Eq – Dixon Technologies (India) Ltd	Consumer Durables	2.3%
Eq – Aurobindo Pharma Ltd.	Healthcare	2.27%

The top 10 holdings account for approximately 31.86% of the portfolio.

To see all holdings, visit the UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund Direct Growth Plan page

The largest holding is Laurus Labs at 4.36%, and the next few positions remain close enough in size to suggest a fairly even top end rather than a single oversized bet. The gap from the first holding to the tenth is modest in absolute terms, with the tenth holding at 2.27%, so the visible book does not appear dominated by one stock.

That said, the top 10 together still make up only 31.86% of the portfolio, while 62 holdings are disclosed in total. In our view, that suggests the scheme is spread across a reasonably long tail of positions, even though the leading names may still influence day-to-day movement more than the smaller positions.

The mix across healthcare, banking, finance, capital goods, electricals and consumer durables may also mean the fund’s behaviour can shift with sector leadership. Because no single position is extremely large, the portfolio may be less dependent on one name, but the combined exposure to a set of mid-sized holdings could still leave returns sensitive to theme rotation.

Source data date: as of 15 Sep 2026

Who should invest

This fund is better suited to investors who can accept High Risk volatility and who are comfortable with a strategy that may move sharply over short periods. The one-year result is positive, but the recent one-month and three-month numbers show that the path has not been smooth, so patience matters.

It fits a longer horizon more naturally than a short-term parking option, especially because the fund is still young and does not yet have a full multi-year record. Investors who want a broad benchmark comparison may note that it has recently stayed ahead of the benchmark, but they also need to accept that the ride can be uneven when the segment cools.

The main trade-off is between the possibility of stronger participation when this part of the market is working and the likelihood of sharper swings when it is not. The portfolio’s spread across 62 holdings helps reduce dependence on a single company, but it still reflects a focused equity theme rather than a defensive balance.

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: No exit load.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund Direct Growth Plan?

The current NAV is ₹11.4883 as of 15 Sep 2026.

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

The 1-year return is 6.03%, while the 3-year and 5-year returns are not available yet.

How does the fund compare with its benchmark?

It has done better than the benchmark in the 1-month, 3-month and 1-year periods shown here. The benchmark has been negative over all three of those same horizons.

How does it compare with the peer funds listed here?

Its 1-year return is lower than the stronger peer figures shown here, while the peers with longer history also show much higher available 3-year numbers. The fund itself does not yet have 3-year or 5-year figures available.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

What should investors know about risk, portfolio and exit load?

The fund is in the High Risk category, has no exit load and is spread across 62 disclosed holdings. The top 10 holdings account for approximately 31.86% of the portfolio.

Bottom line

This fund’s recent record is stronger than its benchmark over the periods shown, but it has also been choppy in the short term and does not yet have a long operating history. Compared with the peer funds listed here, its available recent return is modest, while its own longer-term record is still too short to judge in the same way. The portfolio is reasonably spread across 62 holdings, with no single position dominating the book. That makes it a fit for investors who can handle High Risk equity exposure and want a thematic mid-smallcap allocation rather than a steadier core fund.

Published on 16 September 2026 at 12:36 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.