UTI NIFTY50 Equal Weight Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

UTI NIFTY50 Equal Weight Index Fund Direct Growth Plan has a current NAV of ₹14.7932 as of 17 September 2026 and manages ₹153 Cr. Its 1-year, 3-year and 5-year returns are -1.27%, 10.23% and 0%, respectively, and the scheme sits in the High Risk category. Our view is that this is best read as a diversified index option with equal-weight exposure that has helped the fund stay constructive over a 3-year horizon, even though the recent 1-year trend has been soft.

It may suit investors who are comfortable with sharper market swings and want a rules-based approach rather than an actively tilted portfolio. The fund’s equal-weight structure can change the behaviour versus the benchmark, but the recent numbers show that short-term weakness has not erased the longer-term positive track record.

Quick facts

Particular	Details
NAV	₹14.7932 as of 17 Sep 2026
AUM	₹153 Cr
Expense Ratio	0.32%
Launch Date	07 Jun 2023
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 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.37%	-3.66%
3M	-2.32%	-3.71%
1Y	-1.27%	-7.13%
3Y	10.23%	5.82%
5Y	Data not available	Data not available

Recent numbers show that the fund has held up better than the benchmark across 1M, 3M and 1Y. The 1-year return is negative, but it is still much less weak than the benchmark, which tells us the equal-weight structure has cushioned the decline relative to the index over this stretch.

The 3-year picture is more constructive. At 10.23%, the fund is ahead of the benchmark’s 5.82%, which suggests that the equal-weight approach has added value over a fuller cycle rather than only in a brief rebound.

The path has not been smooth, though. The shorter-period pattern shows a weak patch, and that matters for investors who may expect the fund to track the benchmark closely every month. In practice, equal-weight exposure can drift away from the broad index in both directions, and this fund’s recent moves reflect that behaviour.

Because the fund launched on 07 Jun 2023, there is no usable 5-year return history yet. That makes the 1-year and 3-year figures more important for judging the current stage of the scheme. On that basis, we see a fund that has recovered better over time than its benchmark, even though the latest year has still been subdued.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD UTI NIFTY50 Equal Weight 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 NIFTY50 Equal Weight Index Fund Direct Growth Plan	-1.27%	10.23%	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. On the return snapshot available here, the fund’s 1-year performance trails several peers with much stronger recent gains, but its 3-year number is more competitive and ahead of some available peer figures. That split tells us the short-term picture is weaker than the longer-looking one, so the fund reads better as a medium-horizon index-style allocation than as a recent momentum leader.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eq – Eternal Limited	Retailing	2.53%
Eq – Bajaj Auto Ltd.	Automobile & Ancillaries	2.46%
Eq – HCL Technologies Ltd.	IT	2.33%
Eq – Titan Company Ltd.	Diamond & Jewellery	2.33%
Eq – Tata Consultancy Services Ltd.	IT	2.25%
Eq – Bajaj Finserv Ltd.	Finance	2.24%
Eq – Tech Mahindra Ltd.	IT	2.2%
Eq – Shriram Finance Ltd	Finance	2.15%
Eq – Nestle India Ltd.	FMCG	2.14%
Eq – Grasim Industries Ltd.	Diversified	2.13%

The top 10 holdings account for approximately 22.76% of the portfolio.

To see all holdings, visit the UTI NIFTY50 Equal Weight Index Fund Direct Growth Plan page

The largest holding is 2.53%, which is only slightly above the rest of the top 10. The drop from the first holding to the tenth is modest, from 2.53% to 2.13%, so the visible book looks evenly spread rather than heavily tilted toward one name.

That kind of pattern usually means no single position is likely to dominate day-to-day portfolio behaviour. Instead, several holdings may contribute in a fairly balanced way, which is consistent with an equal-weight index approach.

At the same time, the disclosed top 10 add up to 22.76% across 50 holdings, so a large part of the portfolio still sits beyond these names. That suggests the fund has a long tail of smaller positions, which may reduce concentration in the visible leaders even if the broader market moves unevenly.

Source data date: as of 17 Sep 2026

Who should invest

This fund is better suited to investors who can tolerate High Risk and are comfortable with a return pattern that may differ from the headline benchmark over short periods. The 1-year figure is weak, but the 3-year result is positive and ahead of the benchmark, which points to a strategy that can be uneven in the short run yet useful over a longer horizon.

We think the more suitable horizon is medium to long term, because the recent softness needs time to be absorbed. Investors who want closer tracking in every period may find the equal-weight behaviour less predictable, while those who want rules-based diversification within the Nifty 50 universe may find the structure more fitting.

The main trade-off is that the portfolio can move away from benchmark-style market-cap dominance. That can help in some stretches and lag in others, so the fund fits investors who accept that variability in exchange for a different return path.

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 17 Sep 2026

Frequently asked questions

What is the current NAV of UTI NIFTY50 Equal Weight Index Fund Direct Growth Plan?

The current NAV is ₹14.7932 as of 17 September 2026.

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

The 1-year return is -1.27%, the 3-year return is 10.23%, and the 5-year return is not available yet.

How does the fund compare with the NIFTY 50 benchmark?

It is ahead of the benchmark over 1 year and 3 years in the available snapshot. The 1-year benchmark return is -7.13% versus -1.27% for the fund, and the 3-year benchmark return is 5.82% versus 10.23% for the fund.

How does it compare with the listed peer funds?

Its 1-year return is weaker than several listed peers, while its 3-year return is more competitive than some peers with available 3-year figures. The peer set shows a mix of much stronger short-term numbers and some funds with no usable longer-term figures.

Is there a minimum SIP amount?

No minimum SIP amount is stated here, so we are not listing one.

What are the risk level, portfolio style and exit load?

The fund is classified as High Risk, and its visible holdings are fairly evenly spaced with the largest weights staying close together. There is no exit load.

Bottom line

UTI NIFTY50 Equal Weight Index Fund Direct Growth Plan looks stronger over 3 years than over the most recent 1 year, so its short-term and medium-term pictures are not the same. Against the benchmark, it has held up better in the recent year and also ahead over 3 years. The High Risk tag fits a fund that can move differently from the market-cap style index, and the equal-weight structure keeps the top holdings from becoming too dominant. That makes it more suitable for investors who are comfortable with variability and a medium-to-long horizon.

Published on 18 September 2026 at 1:18 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.