List of Mutual Fund (NFOs) & ETFs Live for Investors in May '26

The Indian equity markets are witnessing strong domestic participation, and to capitalise on it, Asset Management Companies (AMCs) are aggressively diversifying their product offerings. May 2026 saw a large number of New Fund Offers (NFOs) that offered retail, HNI, and institutional investors a new opportunity to diversify their portfolios across various types of mutual funds, including large-cap, medium-cap, small-cap, index, liquid, and ETFs.

Tracking the mutual fund landscape helps investors stay updated with new market cycles right from inception, whether they are interested in investing in NFOs, ETFs, or niche structural themes.

Key takeaways

• May 2026 saw a broad mix of live mutual fund NFOs and ETFs, including equity, index, hybrid, passive, debt, and SIF categories.
• Several schemes opened in May and continued into June, giving investors a longer subscription window.
• Passive products such as index funds and ETFs formed a major part of this month’s launch calendar.
• On Dhan, investors can invest in NFOs and ETFs through the Mutual Funds section on Dhan’s dashboard.

What are NFOs and ETFs?

A New Fund Offer (NFO) is the first-time subscription window for a new mutual fund scheme offered by an Asset Management Company (AMC). Similar to how a company launches an Initial Public Offering (IPO) to raise capital from the public market, a fund house introduces an NFO to build its initial pool of investment capital. 

During the NFO subscription period, units are offered at a fixed face value of ₹10 per unit. After the subscription period ends, the fund is officially packaged and is available for regular daily trading, entry, or exit as per the prevailing Net Asset Value (NAV).

An Exchange Traded Fund (ETF) is a basket of securities that mimics the performance of an underlying index, commodity, or asset class and is traded actively on stock exchanges such as the NSE and BSE, just like shares. ETFs allow investors to trade in real time during the trading hours, unlike traditional mutual funds, which can only be bought or sold at the end of the day at the NAV offered by the fund house. 

However, an ETF is also launched as NFO. Thus, when an Asset Management Company (AMC) wants to launch a new ETF, they first open an NFO to pool capital from investors, which allows it to issue the first batch of ETF units. 

List of Mutual Fund (NFOs) & ETFs launched in May '26

The table below consolidates the Mutual Fund (NFOs) & ETFs launched by various AMCs in May '26.

Here is the detailed overview of all the above-mentioned Mutual Fund (NFOs) & ETFs:

The Wealth Company Large & Mid Cap Fund

Pantomath Group-backed Wealth Company Mutual Fund has made its debut in the large and mid-cap segment with its latest equity fund. The mutual fund scheme provides exposure to both large cap and mid-cap companies, thereby enabling the investors to invest in well-established companies and also avail the growth benefits of the mid-sized companies.

The Wealth Company Large & Mid Cap Fund details

• Open Date: May 21, 2026
• Close Date: June 4, 2026
• Category: Large & Mid Cap Fund
• Minimum Investment: ₹1,000
• Fund Type: Open ended Equity Scheme

Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund

Groww Mutual Fund has launched this index fund to replicate the performance of the Nifty Smallcap 250 Momentum Quality 100 Index. The mutual fund scheme aims to provide returns before expenses that are broadly in line with the total return of the securities in the underlying index, which includes small-cap stocks that exhibit strong momentum and robust fundamentals.

Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund details

• Open Date: May 29, 2026
• Close Date: June 12, 2026
• Category: Index Fund
• Minimum Investment: ₹500
• Fund Type: Open ended Index Scheme

Groww Nifty Smallcap 250 Momentum Quality 100 ETF

In addition to the index variant, Groww Mutual Fund has also launched the Groww Nifty Smallcap 250 Momentum Quality 100 ETF with the same underlying Nifty Smallcap 250 Momentum Quality 100 Index, subject to tracking errors. This provides investors with real-time trading on stock exchanges while capturing momentum trends within the small-cap space.

Groww Nifty Smallcap 250 Momentum Quality 100 ETF details

• Open Date: May 29, 2026
• Close Date: June 12, 2026
• Category: ETF
• Minimum Investment: ₹500
• Fund Type: Open ended Exchange Traded Fund

Kotak Nifty Alpha Low-Volatility 30 Index Fund

With Kotak Nifty Alpha Low-Volatility 30 Index Fund, Kotak Mahindra Mutual Fund has launched a smart beta index fund that aims to replicate the Nifty Alpha Low-Volatility 30 Index. The fund is designed to mimic the portfolio of 30 high-performing stocks that are identified using a strategic mix of high alpha (excess market returns) and historically low volatility, providing a balanced risk management strategy. 

Kotak Nifty Alpha Low-Volatility 30 Index Fund details

• Open Date: May 29, 2026
• Close Date: June 12, 2026
• Category: Index Fund
• Minimum Investment: ₹1000
• Fund Type: Open ended Index Scheme

iSIF Active Asset Allocator Long-Short Fund

Under SEBI's Specialised Investment Fund (SIF) framework, ICICI Prudential Mutual Fund is in charge of managing the iSIF Active Asset Allocator Long-Short Fund. It takes limited short exposure through derivatives and makes dynamic investments across equities, debt instruments, commodities derivatives, and InvITs. It follows a counter-cyclical investment approach.

iSIF Active Asset Allocator Long-Short Fund details

• Open Date: May 19, 2026
• Close Date: June 2, 2026
• Category: SIF - Active Asset Allocator Long Short Fund
• Minimum Investment: ₹10,00,000
• Fund Type: Open ended 

iSIF Equity Long-Short Fund

The iSIF Equity Long-Short Fund is launched by ICICI Prudential Mutual Fund under the relatively new Specialised Investment Fund (SIF) category. The fund aims to deliver superior risk-adjusted returns by combining long and short investment strategies. The scheme's objective is to buy structurally sound compounding businesses and to put tactical short overlays on structurally weak businesses, enabling investors to aim for capital preservation as well as capital growth.

iSIF Equity Long-Short Fund details

• Open Date: May 19, 2026
• Close Date: June 2, 2026
• Category: SIF - Equity Long Short Fund
• Minimum Investment: ₹10,00,000
• Fund Type: Open ended 

Altiva Equity Ex-Top 100 Long-Short Fund

Altiva Mutual Fund has been focused on opportunities outside the blue-chip ecosystem of India with its niche equity ex-top 100 strategy. The scheme aims to buy stocks it expects to appreciate in value over time, targeting long-term capital appreciation while it uses derivatives (like futures and options) to bet against or hedge stocks it expects to fall.

Altiva Equity Ex-Top 100 Long-Short Fund details

• Open Date: May 18, 2026
• Close Date: June 1, 2026
• Category: SIF - Equity Ex-Top 100 Long Short Fund
• Minimum Investment: ₹10,00,000
• Fund Type: Open ended 

Motilal Oswal Contra Fund

Motilal Oswal Contra Fund is Motilal Oswal Mutual Fund's first equity offering in the contra category, which is geared towards investors seeking to invest in out-of-favour themes. The fund is based on a contrarian investing approach, which involves investing in fundamentally strong companies and industries that are temporarily out of favour in the market.

Motilal Oswal Contra Fund details

• Open Date: May 8, 2026
• Close Date: May 22, 2026
• Category: Contra Fund
• Minimum Investment: ₹500
• Fund Type: Open ended Equity Scheme

Groww Nifty Private Bank Index Fund

Groww Mutual Fund focuses on the financial sector with an index fund tracking the Nifty Private Bank Index. This scheme allows investors to participate directly in the growth story of India's leading private sector banking institutes through a low-cost passive investment vehicle. It follows a rules-based passive strategy.

Groww Nifty Private Bank Index Fund details

• Open Date: May 6, 2026
• Close Date: May 20, 2026
• Category: Index Fund (Sectoral)
• Minimum Investment: ₹500
• Fund Type: Open ended Index Scheme

360 ONE MSCI India ETF

360 ONE mutual fund has launched 360 ONE MSCI India ETF with the aim of closely tracking the performance of the MSCI India Index. This fund offers a convenient way for investors to gain access to a broad and well-known basket of large and mid-cap Indian stocks that receive high foreign institutional investor interest.

360 ONE MSCI India ETF details

• Open Date: May 18, 2026
• Close Date: May 20, 2026
• Category: ETF
• Minimum Investment: ₹5,000
• Fund Type: Open ended Exchange Traded Fund

SBI Nifty G-sec Jul 2031 Index Fund

SBI Mutual Fund has introduced a target-maturity index fund with the SBI Nifty G-sec Jul 2031 Index Fund. It tracks the Nifty G-sec Jul 2031 Index, which gives investors a predictable investment horizon by investing primarily in sovereign government securities that are set to mature around July 2031.

SBI Nifty G-sec Jul 2031 Index Fund details

• Open Date: May 14, 2026
• Close Date: May 19, 2026
• Category: Index Fund 
• Minimum Investment: ₹5,000
• Fund Type: Open ended

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

It is another fixed-income product by SBI Mutual Fund, which follows a benchmark consisting of 10% Government Securities (G-Secs) and 90% State Development Loans (SDLs) that will come to maturity in December 2029. This scheme is suitable for those who are conservative investors and want stability and predictable returns over a fixed period.

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

• Open Date: May 14, 2026
• Close Date: May 19, 2026
• Category: Index Fund (Fixed Income)
• Minimum Investment: ₹5,000
• Fund Type: Open ended

Arthaya Equity Long Short Fund

The Arthaya Equity Long Short Fund is a specialised investment fund launched by Union Mutual Fund under the SIF framework of SEBI. It combines the best of both the worlds of traditional mutual funds and portfolio management services (PMS) by taking a traditional stock-buying (long) approach while also using derivatives to hedge against capital losses during market downturns. 

Arthaya Equity Long Short Fund details

• Open Date: May 4, 2026
• Close Date: May 18, 2026
• Category: SIF - Equity Long Short Fund
• Minimum Investment: ₹10,00,000
• Fund Type: Open ended 

Axis Nifty Capital Markets Index Fund

Axis Mutual Fund has launched Axis Nifty Capital Markets Index Fund to replicate the Nifty Capital Markets Index. This fund offers investors direct exposure to the entire financial value chain of the capital markets ecosystem, including asset management companies (AMCs), stock exchanges, depositories, and brokerage services.

Axis Nifty Capital Markets Index Fund details

• Open Date: May 4, 2026
• Close Date: May 15, 2026
• Category: Thematic Index Fund
• Minimum Investment: ₹100
• Fund Type: Open ended Index Scheme

qsif Sector Rotation Long-Short Fund

The qsif Sector Rotation Long-Short Fund is offered by Quant Mutual Fund. It is an open-ended Specialised Investment Fund (SIF). It aims for long-term capital appreciation by concentrating investments in up to four high-potential sectors while utilising derivative-based short positions to hedge or profit from sector-specific downturns. 

qsif Sector Rotation Long-Short Fund details

• Open Date: April 27, 2026
• Close Date: May 11, 2026
• Category: SIF - Sector Rotation Long Short Fund
• Minimum Investment: ₹10,00,000
• Fund Type: Open ended 

Titanium Equity Long-Short Fund

The Titanium Equity Long-Short Fund is an actively managed mutual fund scheme launched by Tata Asset Management under its Specialised Investment Fund (SIF) platform. It is designed to navigate through different market phases (bull, bear, and sideways) by dynamically altering its exposure to equities and uses derivatives for hedging. 

Titanium Equity Long-Short Fund details

• Open Date: April 27, 2026
• Close Date: May 11, 2026
• Category: SIF - Equity Long Short Fund
• Minimum Investment: ₹10,00,000
• Fund Type: Open ended Alternative Strategy Scheme

Invesco India BSE Sensex Index Fund

The Invesco India BSE Sensex Index Fund is an open-ended mutual fund that tracks the performance of the BSE SENSEX Index. It provides exposure to India's top 30 large-cap industry leaders across key sectors like financials, IT, energy, and consumer goods. It is a passively managed index fund, thus carrying a lower expense ratio.

Invesco India BSE Sensex Index Fund details

• Open Date: April 23, 2026
• Close Date: May 7, 2026
• Category: Equity - Index Fund
• Minimum Investment: ₹100
• Fund Type: Open ended Index Scheme

Invesco India Nifty Bank Index Fund

At the same time, Invesco India Mutual Fund introduced a sectoral index product which tracks the performance of the most liquid banking entities on the National Stock Exchange. The scheme is designed to provide investors with a focused, low-cost passive investment opportunity to access the high-growth trajectory of India's heavyweight banking sector.

Invesco India Nifty Bank Index Fund details

• Open Date: April 23, 2026
• Close Date: May 7, 2026
• Category: Equity - Index Fund (Sectoral)
• Minimum Investment: ₹100
• Fund Type: Open ended Index Scheme

How to invest in upcoming Mutual Fund (NFOs) & ETFs on Dhan

Investing in NFOs and ETFs via Dhan is a quick, entirely paperless process. Here is how investors can allocate their capital to these new offerings within minutes on Dhan:

• Log in to the Dhan account on the app or web using the PIN or biometrics.
• Tap on the dedicated Mutual Funds tab located on Dhan’s dashboard navigation bar.
• Then navigate to the New Fund Offers (NFO) section. Here, all current active subscription windows are listed with their details. For ETFs, investors can simply enter the ETF name directly into the search bar.
• Investors can then select their preferred fund house scheme and review its underlying investment mandate, tracking parameters, exit load criteria, and minimum application amount.
• If it aligns with their investment objective, they can click the invest now tab, specify whether they want a one-time lump-sum allocation or a systematic investment plan (SIP), and execute their payment via UPI or Net Banking.
• After the allocation process is completed, the fund units will be visible directly within their portfolio.

Final thoughts

May 2026 offered a diverse range of mutual funds to investors, with prominent AMCs introducing new passive sector-tracking funds, robust smart-beta indices, target-maturity debt, and contrarian frameworks. While a new fund offers an opportunity for investors to diversify their portfolios, investing in it simply because it has a ₹10 face value is never the right approach to making long-term investments.

Therefore, investors should carefully consider the fund's goals, expense ratio, risks, and overall suitability for their investment strategy before investing in any new fund.