Nifty EV & New Age Automotive index funds and ETFs
3 index funds and ETFs track the Nifty EV & New Age Automotive, as each fund house reported for Sep 2026. Closest to the index over the year: Mirae Asset Nifty EV and New Age Automotive ETF. 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.
ETFs on the Nifty EV & New Age Automotive
Closest to the index first, then the lowest expense ratio. The premium is the median over the month's trading days of each day's close against its NAV.
Mirae Asset Nifty EV and New Age Automotive ETFMirae Asset Mutual FundTracking difference−0.43%After fee0.00%Tracking error0.05%Expense ratio0.48%Fund size, ₹ Cr165Premium or discount0.00%
Groww Nifty EV & New Age Automotive ETFGroww Mutual FundTracking difference+0.46%After fee+1.02%Tracking error0.11%Expense ratio0.64%Fund size, ₹ Cr279Premium or discount+0.15%
ICICI Prudential Nifty EV & New Age Automotive ETFICICI Prudential Mutual FundTracking difference−0.60%After fee−0.15%Tracking error0.09%Expense ratio0.47%Fund size, ₹ Cr75Premium or discount+0.21%
About Nifty EV & New Age Automotive index funds and ETFs
Nifty EV & New Age Automotive index funds and ETFs are funds that hold the companies of the Nifty EV & New Age Automotive index, so their return follows the index less costs. The index covers makers of electric and new age vehicles, their batteries, components and technology.
The index they track
The Nifty EV & New Age Automotive index is maintained by NSE Indices and launched on 30 May 2024, with a base date of 2 Apr 2018. Only Nifty 500 companies can join. All makers of electric and new age vehicles (hybrid, hydrogen fuel-based and green hybrid) and all battery makers are included, plus the five largest companies in each of three groups: components, non-metal raw materials and advanced automotive technology. Five more come from those groups' companies in the government's incentive schemes for advanced automotive products, battery cells or electric vehicle adoption, or in the Society of Manufacturers of Electric Vehicles.
Weights and reviews
Weights follow free-float market capitalisation, the value of shares open to public trading. Vehicle makers together are capped at 40%, each at 8%, and every other company at 4%. The index is reconstituted in Mar and Sep, and weights are rebalanced quarterly.
Index funds and ETFs
An ETF (exchange traded fund) trades through a broker at a market price that can differ from NAV, the value of one unit. For each ETF the page shows a premium or discount: the median, across the month's trading days, of each day's close divided by that day's NAV, less one.
Tracking difference and tracking error
Tracking difference is the fund's one-year return less the index's return, usually below zero because of costs. The after fee figure adds the year's average expense ratio back. Tracking error is the yearly spread of the daily gaps.
Expense ratio and ordering
The expense ratio is the yearly fee as a share of assets, taken from NAV daily, so shown returns are already net of it. Fund size adds all plans at month-end. The page puts the fund with the tracking difference nearest zero first, then the lower expense ratio.