This week's NFOs

Groww Nifty Smallcap 250 Momentum Quality 100 ETF

Groww Mutual Fund · ETF – Factor/Smart Beta · open-ended · Opens 2026-05-29

This ETF tracks the Nifty Smallcap 250 Momentum Quality 100 index, which screens the Smallcap 250 universe for momentum and quality signals and selects the top 100. Factor ETFs in the smallcap space stack two layers of concentration risk. The smallcap segment itself and the factor tilt on top.

Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund

Groww Mutual Fund · Index Fund – Factor/Smart Beta · open-ended · Opens 2026-05-29

This index fund tracks the same Nifty Smallcap 250 Momentum Quality 100 index as the ETF launched simultaneously by the same AMC. The index fund wrapper allows direct purchase and redemption at NAV, bypassing the need for a demat account or exchange liquidity.

Kotak Nifty Alpha Low Volatility 30 Index Fund

Kotak Mahindra Mutual Fund · Index Fund – Factor/Smart Beta · open-ended · Opens 2026-05-29

This fund tracks the Nifty Alpha Low Volatility 30 index, a multi-factor index that blends a high-alpha screen with a low-volatility screen and selects 30 stocks. Combining these two factors is structurally interesting because they often pull in opposite directions. High-alpha stocks tend to be volatile, so the index is designed to find names that score well on both simultaneously.

Category observations

All three launches this week are passive and factor-tilted, continuing a visible trend of AMCs moving beyond plain market-cap index products. The Groww pair is the more unusual structure. Launching an ETF and an index fund on the same niche index simultaneously is a deliberate attempt to capture both demat and non-demat distribution channels in one go. The Kotak fund enters a category where live peers already exist on the same benchmark, which is actually useful for evaluation since tracking difference data will be available from day one of comparison.

Track records emerge over three years.

Reading the broader picture

• Last week's coverage sits at Week of May 18 to May 24, 2026.
• The live list of currently open NFOs sits at finset.in/nfo.
• Per-scheme deep dives live at finset.in/funds.

Mutual fund investments are subject to market risks. Read all scheme related documents carefully. Published by Sanket Nilkantha Dube, AMFI-registered Mutual Fund Distributor (ARN-180462). Not investment advice. Full disclosures.

This week's NFOs

The Wealth Company Large & Mid Cap Fund

The Wealth Company Mutual Fund · Equity Scheme – Large & Mid Cap · open-ended · Opens 2026-05-21

Large & mid cap funds are mandated by SEBI to hold at least 35% each in large caps and mid caps, leaving limited room for tactical flexibility. The category is crowded with seasoned funds, so a new entrant starts without a performance history to evaluate.

Category observations

Large & mid cap is one of the more populated equity categories in Indian mutual funds. SEBI's dual allocation mandate means fund managers can't lean heavily into one segment over the other, which shapes the risk-return profile in a fairly defined way across all funds in this category. A meaningful track record takes three years to build and this fund is starting from zero.

Track records emerge over three years.

Reading the broader picture

• Last week's coverage sits at Week of May 11 to 17, 2026.
• The live list of currently open NFOs sits at finset.in/nfo.
• Per-scheme deep dives live at finset.in/funds.

Mutual fund investments are subject to market risks. Read all scheme related documents carefully. Published by Sanket Nilkantha Dube, AMFI-registered Mutual Fund Distributor (ARN-180462). Not investment advice. Full disclosures.

This week's NFOs

Groww Nifty Private Bank ETF

Groww Mutual Fund · ETF, Passive Equity · open-ended · Opens 2026-05-06

Tracks the Nifty Private Bank index, concentrating exposure entirely in private sector banking. Sectoral ETFs carry single-industry concentration by construction.

Groww Nifty Private Bank Index Fund

Groww Mutual Fund · Index Fund, Passive Equity · open-ended · Opens 2026-05-06

The index fund wrapper for the same Nifty Private Bank index, accessible without a demat account. The underlying concentration risk is identical to the ETF variant.

HDFC Gold Silver Passive FOF

HDFC Mutual Fund · Fund of Funds, Commodity · open-ended · Opens 2026-05-15

A passive FOF investing in gold and silver ETFs or funds. FOF structures stack fees, with the FOF's own expense ratio sitting on top of what the underlying commodity funds already charge.

Motilal Oswal Contra Fund

Motilal Oswal Mutual Fund · Equity Scheme, Contra Fund · open-ended · Opens 2026-05-08

Contra funds take positions against prevailing market sentiment, buying out-of-favour stocks. SEBI permits only one contra fund per AMC, so this is a distinct category slot for Motilal Oswal.

SBI CRISIL-IBX 10:90 Gilt + SDL Index - Dec 2029 Index Fund

SBI Mutual Fund · Index Fund, Debt, Target Maturity · open-ended · Opens 2026-05-14

A target-maturity debt index fund maturing in December 2029, blending government securities and state development loans in a 10:90 ratio. Target-maturity funds hold bonds to maturity, which reduces but does not eliminate interest rate risk.

SBI Nifty G-sec Jul 2031 Index Fund

SBI Mutual Fund · Index Fund, Debt, Target Maturity · open-ended · Opens 2026-05-14

Tracks a Nifty G-sec index maturing in July 2031, investing purely in central government securities. The longer maturity window relative to the Dec 2029 fund means greater sensitivity to interest rate movements over the holding period.

SBI Nifty Smallcap 250 ETF

SBI Mutual Fund · ETF, Passive Equity · open-ended · Opens 2026-05-07

Tracks the Nifty Smallcap 250 index, spreading passive exposure across 250 small-cap names. Smallcap indices carry higher volatility and wider bid-ask spreads on the exchange than large-cap equivalents.

SBI Nifty200 Value 30 ETF

SBI Mutual Fund · ETF, Passive Equity, Factor/Smart Beta · open-ended · Opens 2026-05-07

A smart-beta ETF tracking the Nifty200 Value 30 index, which selects 30 value-screened stocks from the Nifty 200. Factor indices concentrate the portfolio significantly compared to broad-market benchmarks.

Category observations

Passive products dominate this week's launches. Six of the eight NFOs are index funds or ETFs, continuing a trend of AMCs filling out their passive shelf across equity, debt and commodity categories. SBI alone accounts for four launches, spanning smallcap equity, value factor and two target-maturity debt products. The two target-maturity debt index funds from SBI arrive at a time when the target-maturity category is already well-populated, so differentiation comes down to the specific maturity date and index composition rather than the structure itself.

Track records emerge over three years.

Reading the broader picture

• The live list of currently open NFOs sits at finset.in/nfo.
• Per-scheme deep dives live at finset.in/funds.

Mutual fund investments are subject to market risks. Read all scheme related documents carefully. Published by Sanket Nilkantha Dube, AMFI-registered Mutual Fund Distributor (ARN-180462). Not investment advice. Full disclosures.