Nifty 500 index funds and ETFs

6 index funds and ETFs track the Nifty 500, as each fund house reported for Sep 2026. Closest to the index over the year: Motilal Oswal Nifty 500 Index Fund. Tracking difference is the fund's return less the index's over the year; its costs make it negative, so the figure nearest nought is the closest.

Index funds on the Nifty 500

Closest to the index first, then the lowest expense ratio. Over the year to the month's end.The Nifty 500

  • Motilal Oswal Mutual Fund logoMotilal Oswal Nifty 500 Index FundMotilal Oswal Mutual FundTracking difference−0.09%After fee+0.09%Tracking error0.04%Expense ratio0.23%Fund size, ₹ Cr3,086
  • Axis Mutual Fund logoAxis Nifty 500 Index FundAxis Mutual FundTracking difference−0.31%After fee−0.18%Tracking error0.19%Expense ratio0.16%Fund size, ₹ Cr314
  • SBI Mutual Fund logoSBI Nifty 500 Index FundSBI Mutual FundTracking difference−0.36%After fee−0.04%Tracking error0.03%Expense ratio0.33%Fund size, ₹ Cr734
  • ICICI Prudential Mutual Fund logoICICI Prudential Nifty 500 Index FundICICI Prudential Mutual FundTracking difference−0.65%After fee−0.28%Tracking error0.15%Expense ratio0.43%Fund size, ₹ Cr102
  • DSP Mutual Fund logoDSP Nifty 500 Index FundDSP Mutual FundTracking difference–After fee–Tracking error0.14%Expense ratio0.31%Fund size, ₹ Cr17
  • UTI Mutual Fund logoUTI Nifty 500 Index FundUTI Mutual FundTracking difference–After fee–Tracking error0.06%Expense ratio–Fund size, ₹ Cr102

About Nifty 500 index funds and ETFs

Nifty 500 index funds and ETFs are funds that hold the companies of the Nifty 500, the top 500 listed companies by full market capitalisation, in the index's own weights, so their return follows the index less costs.

The index they track

The Nifty 500 is maintained by NSE Indices. It takes the top 500 companies by full market capitalisation (share price times all shares issued) from NSE-listed companies that meet its eligibility rules. Each company counts at its free float market capitalisation, which includes only shares available for trading. The base date is 1 Jan 1995 with a base value of 1000. Membership is reviewed every six months on data to 31 Jan and 31 Jul, with four weeks' notice before a change.

What a fund holds

The index splits into three others: the Nifty 100 takes the top 100 companies by full market capitalisation, the Nifty Midcap 150 those ranked 101 to 250, and the Nifty Smallcap 250 those ranked 251 to 500. A fund tracking it therefore holds large, mid and small companies in one portfolio, each at its free float weight.

Tracking difference and tracking error

Tracking difference is the fund's return less the index's over the year to the month's end. Costs make it negative, so the figure nearest nought is the closest to the index. The after fee figure adds the year's average expense ratio back, which shows the drift that is not the fee. Tracking error is how far the fund's daily returns differed from the index's, stated as a yearly figure. A dash marks a figure the page does not have for that fund.

Expense ratio and fund size

The expense ratio is the yearly charge as a share of money invested. It is taken out of NAV, the value of one unit, every day, so shown returns are already after it. This page shows direct plans and lets the reader switch to regular plans. Fund size is assets under management across all plans at month-end.

How the list is ordered

Funds are ordered by closeness to the index first, then by the lowest expense ratio.