# Motilal Oswal S&P 500 Index Fund Direct Plan NAV hits ₹32.35

**Published:** 2026-06-18T13:07:29.552Z  
**Topic:** S P 500  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/801f1251-3797-4c24-8a6e-83ddf06e2b46

Motilal Oswal S&P 500 Direct Plan NAV stands at ₹32.35 (June 2026), with a 0.49% expense ratio, ₹4,580 Cr AUM and 17.93% 5‑yr annualised return. See the fund’s

The Motilal Oswal S&P 500 Index Fund – Direct Plan posted a net asset value of **₹32.3549 per unit on 17 June 2026**, marking the latest price level for investors seeking U.S. equity exposure through an Indian mutual fund [5].

| At a glance | |
|---|---|
| NAV (18 Jun 2026) | ₹32.3549 |
| Expense ratio (Direct) | 0.49% |
| Assets under management | ₹4,580 Cr (as of 31 May 2026) |
| 5‑yr annualised return | 17.93% |

### Fund profile and performance

Launched on 28 April 2020, the fund tracks the S&P 500 Index and is managed by Swapnil P Mayekar, Rakesh Shetty and Dishant Mehta. Its **average annual return since inception is 21.38%**, outperforming many domestic equity funds over the same period [1]. Over the past five years the fund has delivered an **annualised return of 17.93%**, a solid track record for a “Very High” risk international fund [5].

The fund’s **expense ratio of 0.49%** is lower than the 0.58% charged on the Growth plan, reflecting the cost advantage of the direct‑plan structure [5]. With **₹4,580 Cr in assets**, it ranks among the larger international index funds offered by Indian asset managers [5].

### Portfolio composition

The fund’s holdings are heavily weighted toward large‑cap U.S. technology names: **NVIDIA (7.82%), Apple (6.98%), Microsoft (5.09%) and Amazon (4.03%)** dominate the top‑ten list [1]. Sector exposure is concentrated in **Capital Goods (23.03%) and Services (20.28%)**, with technology accounting for 11.17% of the portfolio [1]. Foreign equity makes up **98.43%** of assets, while a small portion sits in repos and foreign REITs [1].

### Suitability and tax considerations

Designed for investors seeking long‑term exposure to U.S. equities, the fund is suitable for those with a **5‑year horizon and tolerance for high volatility**. Gains realised after two years are taxed at **12.5%**, whereas shorter‑term gains are added to income and taxed at the applicable slab rate [5]. Dividends are taxed as ordinary income, with a 10% TDS if dividend income exceeds ₹10,000 in a fiscal year [5].

## What to watch
- **U.S. macro data** (e.g., non‑farm payrolls, CPI) that could move the S&P 500 and, by extension, the fund’s NAV.  
- **Quarterly earnings of top holdings** such as NVIDIA and Apple, which can drive short‑term price swings.  
- **Currency movements** between the rupee and the U.S. dollar, given the fund’s 98% foreign‑equity exposure.

The NAV level and strong five‑year return underline the fund’s ability to mirror the S&P 500’s performance, but its very‑high risk label reminds investors that volatility will track the U.S. market closely. Future moves in U.S. economic indicators and earnings will be the key drivers of the fund’s next price trajectory.

## Sources
1. Etmoney — [Motilal Oswal S&P 500 Index Fund Direct-Growth - ET Money](https://www.etmoney.com/mutual-funds/motilal-oswal-sandp-500-index-fund-direct-growth/41468)
2. Moneycontrol — [Motilal Oswal S&P 500 Index Fund Regular Growth](https://www.moneycontrol.com/mutual-funds/nav/motilal-oswal-s-p-500-index-fund-regular-plan/MMO077)
3. Moneycontrol — [Motilal Oswal S&P 500 Index Fund Direct Growth](https://www.moneycontrol.com/mutual-funds/nav/motilal-oswal-s-p-500-index-fund-direct-plan/MMO078)
4. Etmoney — [Motilal Oswal S&P 500 Index Fund: Latest NAV, Holdings ...Motilal Oswal S&P 500 Index Fund Direct Growth - MoneycontrolInvest In Motilal Oswal S and P 500 Index Fund: NAV And ReturnsInvest in Motilal Oswal S&P 500 Index Fund | Diversify and ...Motilal Oswal S&P 500 Index Fund Direct-Growth - ET MoneyMotilal Oswal S&P 500 Index Fund Direct - Growth (₹ 33.00 ...](https://www.etmoney.com/mutual-funds/motilal-oswal-sandp-500-index-fund/41467)
5. Valueresearchonline — [Motilal Oswal S&P 500 Index Fund - Direct Plan: Overview ...Motilal Oswal S&P 500 Index Fund: Latest NAV, Holdings ...Motilal Oswal S&P 500 Index Fund Direct Growth - MoneycontrolInvest In Motilal Oswal S and P 500 Index Fund: NAV And ReturnsInvest in Motilal Oswal S&P 500 Index Fund | Diversify and ...Motilal Oswal S&P 500 Index Fund Direct-Growth - ET MoneyMotilal Oswal S&P 500 Index Fund Direct - Growth (₹ 33.00 ...](https://www.valueresearchonline.com/funds/40997/motilal-oswal-sp-500-index-fund-direct-plan)

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Cite as: TrendWatcher, "Motilal Oswal S&P 500 Index Fund Direct Plan NAV hits ₹32.35", https://www.trendwatcher.in/article/801f1251-3797-4c24-8a6e-83ddf06e2b46