Union Innovation & Opportunities Fund
Union Mutual Fund · Sectoral/Thematic · Regular plan, growth option
NAV (₹), 1 Oct 2026
15.4400
1-day change
-1.34%
1Y return
7.1%
3Y CAGR
15.9%
5Y CAGR
n/a
Max drawdown, 5Y
n/a
NAV history month-end NAV, ₹ · 13 Sep 2023 to 1 Oct 2026
Returns vs Sectoral/Thematic median (259 schemes) and “Innovation” median (13)
| Period | Scheme | Category median | Innovation median |
|---|---|---|---|
| 1 month | -4.8% | -5.4% | -5.0% |
| 3 months | 2.0% | -3.1% | -0.3% |
| 6 months | 23.3% | 8.5% | 18.7% |
| Year to date | 8.7% | -2.6% | 6.1% |
| 1 year | 7.1% | 0.0% | 7.3% |
| 3 years (CAGR) | 15.9% | 11.7% | 16.1% |
| 5 years (CAGR) | n/a | 10.6% | 11.9% |
| 7 years (CAGR) | n/a | 15.7% | n/a |
| 10 years (CAGR) | n/a | 13.3% | n/a |
| Since first NAV (CAGR) | 15.5% | – | – |
“Innovation” is MFIC's grouping of Sectoral/Thematic schemes by the theme or index in their names, not an AMFI category.
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 9.0% | 9.8% |
| 3Y rolling median | n/a | 15.6% |
| 3Y rolling worst | n/a | 0.6% |
| 3Y periods positive | n/a | 100% |
| 3Y periods ahead of benchmark | n/a | 71% |
| 5Y rolling median | n/a | 14.2% |
| 5Y rolling worst | n/a | 0.3% |
| 5Y periods ahead of benchmark | n/a | 70% |
Benchmark: Nifty 500 (proxy: Motilal Oswal Nifty 500 Index Fund, price return).
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 17.9% | 16.7% |
| Sharpe ratio | 0.59 | 0.34 |
| Sortino ratio | 0.86 | 0.51 |
| Beta | 0.96 | 0.96 |
| Alpha (ann.) | 7.2% | 2.3% |
| Upside capture | 124.66 | 103.56 |
| Downside capture | 93.53 | 96.87 |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −24.3% | −23.7% |
| Maximum drawdown, last 10Y | n/a | −39.3% |
| Maximum drawdown, last 5Y | n/a | −22.8% |
| Current drawdown | −5.6% | −8.8% |
| Recovery time of worst fall | 451 days | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Market context from Integrato Market Intelligence
This scheme invests mainly in the market below, which is also close to how many of them are benchmarked. Where that market stands today:
21,857.75 −0.97%
NSE close, 1 Oct 2026
- P/E 21.6: higher than 1% of days since 2023 (median 24.2)
- 1Y −3.9% · 3Y +8.9% p.a. · 5Y +8.6% p.a. (index fund NAV, after costs)
- −9.3% from its 52-week high
Index levels and P/E: NSE daily index closing values; gold and silver: IBJA rates; returns: growth NAV of an index fund or ETF tracking the market (AMFI), so they are after that fund's costs. Context only: a market's level or valuation does not tell you how any scheme will perform. Explore all markets.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 2.35% a year and the Direct plan's 0.99%, a gap of 1.36%; over the last 3 years the Direct plan returned 1.69 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹30,49,298.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Recent disclosure changes last 120 days, as disclosed via AMFI
- 1 Oct 2026: TER reduced from 2.37% to 2.35% (AMFI TER disclosure)
- 28 Sep 2026: TER increased from 2.36% to 2.37% (AMFI TER disclosure)
- 18 Sep 2026: TER reduced from 2.37% to 2.36% (AMFI TER disclosure)
- 15 Sep 2026: TER increased from 2.36% to 2.37% (AMFI TER disclosure)
- 11 Sep 2026: TER increased from 2.32% to 2.36% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Gaurav Chopra | FM 1 Co-manage | 1 Nov 2024 |
| Sanjay Bembalkar | FM 2 Co-manage | 6 Sep 2023 |
Objective: The Investment Objective of the Scheme is to achieve long term capital appreciation by investing predominantly in equity and equity related securities of Innovative Companies. However, there is no assurance that the Investment Objective of the Scheme will be achieved.
Stated asset allocation: Equity & Equity related instruments including Instruments of Innovative entity(ies) : 80% - 100% of net assets, Equity and Equity Related Instruments of other than above entity(ies): 0% - 20% of net assets, Money Market Instruments, Other Liquid Instruments and other assets as permitted by SEBI: 0%-20% of net assets and Units issued by InvITs: 0% - 10% of net assets. Please refer the Scheme Information Document for more details.
Benchmark (tier 1): Nifty 500 Index (TRI) Nifty Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (Formerly Indian Index Services & Products Limited) (IISL). NSE Indices Limited does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of “the Product” or any member of the public regarding the advisability of investing in securities generally or in the “the Product” linked to Nifty 500 Index or particularly in the ability of the Nifty 500 Index, to track general stock market performance in India.
Exit load: 1% if units are redeemed/switched out on or before completion of 1 year from the date of allotment. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units.
Minimum application: ₹1,000
Allotment date: 6 Sep 2023
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Regular plan | 2.35% | 2.38% |
| AUM, whole scheme (₹ crore) | 1,307 | 1,245 |
| Riskometer | Very High | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 10.0% | -2.0% TRI |
| Return, 3 years (AMFI) | 16.4% | 9.5% TRI |
Official benchmark: Nifty 500 TRI (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Sectoral/Thematic Regular plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Nifty 500 proxy | Difference |
|---|---|---|---|
| 2026 YTD | 8.7% | -7.8% | +16.5% |
| 2025 | -4.1% | 7.7% | −11.7% |
| 2024 | 40.8% | 15.6% | +25.2% |
Benchmark proxy: Motilal Oswal Nifty 500 Index Fund (Direct plan NAV, price return), which carries its own costs. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,30,085 | 15.9% |
| 3 years | ₹3,60,000 | ₹4,30,476 | 12.0% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
AMC: Union Mutual Fund
Category: Sectoral/Thematic
Plan / option: Regular · Growth
AMFI scheme code: 151903
ISIN: INF582M01JA4
First NAV in MFIC data: 13 Sep 2023
History: 3.0 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| BANDHAN INNOVATION FUND | Sectoral/Thematic | 0.97 | n/a |
| Baroda BNP Paribas Innovation Fund | Sectoral/Thematic | 0.96 | n/a |
| Motilal Oswal Small Cap Fund | Small Cap | 0.95 | n/a |
| Invesco India Mid Cap Fund | Mid Cap | 0.95 | 20.4% |
| BANDHAN MID CAP FUND | Mid Cap | 0.95 | 15.1% |
| PGIM India Small Cap Fund | Small Cap | 0.95 | 13.8% |
Questions about Union Innovation & Opportunities Fund
- What is the latest NAV of Union Innovation & Opportunities Fund?
- The NAV of the Regular plan (growth option) was ₹15.4400 on 1 Oct 2026, as published by AMFI.
- Which category is Union Innovation & Opportunities Fund in?
- It is classified as Sectoral/Thematic in AMFI's daily NAV file; a Sectoral/Thematic scheme invests at least 80% in one sector or theme. MFIC compares it with 259 Sectoral/Thematic schemes (Regular plans).
- What returns has Union Innovation & Opportunities Fund delivered?
- Over one year the NAV changed by 7.1%. The 3-year CAGR is 15.9% (category median 11.7%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- What was the largest fall in Union Innovation & Opportunities Fund's NAV?
- The largest peak-to-trough fall in its available history was 24.3%.
- How volatile is Union Innovation & Opportunities Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 17.9%, which is above the Sectoral/Thematic category median of 16.7%.
- What would a monthly SIP in Union Innovation & Opportunities Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 3 years (36 instalments, ₹3,60,000 invested) would have been worth about ₹4,30,476 on 1 Oct 2026, an annualised return (XIRR) of 12.0%. This uses the Regular plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of Union Innovation & Opportunities Fund?
- The total expense ratio of the Regular plan is 2.35% a year, as disclosed to AMFI (median of Sectoral/Thematic Regular plans: 2.38%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is Union Innovation & Opportunities Fund?
- Assets under management of the whole scheme were ₹1,307 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of Union Innovation & Opportunities Fund?
- AMFI lists the scheme's riskometer as “Very High”, and its benchmark's as “Very High”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of Union Innovation & Opportunities Fund and how has it compared?
- Its official benchmark is the Nifty 500 TRI. Over 3 years AMFI reports a return of 16.4% for this plan against 9.5% for the benchmark total return index. Past performance does not indicate future results.
- Who manages Union Innovation & Opportunities Fund?
- According to its Scheme Summary Document, Union Innovation & Opportunities Fund is managed by Gaurav Chopra (since 1 Nov 2024), Sanjay Bembalkar (since 6 Sep 2023).
- What is the exit load of Union Innovation & Opportunities Fund?
- As stated in its scheme documents: 1% if units are redeemed/switched out on or before completion of 1 year from the date of allotment. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units. Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in Union Innovation & Opportunities Fund?
- The minimum application amount is ₹1,000. SIP details: SIP - Rs. 100 for daily SIP, Rs. 500 for weekly SIP, Rs. 500 for fortnightly SIP, Rs. 500 for monthly SIP, SWP - Rs. 500 for all frequencies, STP - Rs. 100 for all frequencies.
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by 8.5% and the Regular plan's by 7.1%. The Regular plan includes the services of a distributor.
Reviewing your own mutual fund portfolio?
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Regular plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.