Nifty India Defence index funds and ETFs
3 index funds and ETFs track the Nifty India Defence, as each fund house reported for Sep 2026. Closest to the index over the year: Aditya Birla Sun Life Nifty India Defence 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 India Defence
Closest to the index first, then the lowest expense ratio. Over the year to the month's end.The Nifty India Defence
Aditya Birla Sun Life Nifty India Defence Index FundAditya Birla Sun Life Mutual FundTracking difference−0.48%After fee−0.09%Tracking error0.12%Expense ratio0.45%Fund size, ₹ Cr1,409
Motilal Oswal Nifty India Defence Index FundMotilal Oswal Mutual FundTracking difference−0.66%After fee−0.14%Tracking error0.07%Expense ratio0.55%Fund size, ₹ Cr5,434
Axis Nifty India Defence Index FundAxis Mutual FundTracking difference–After fee–Tracking error0.23%Expense ratio0.69%Fund size, ₹ Cr362
About Nifty India Defence index funds and ETFs
Nifty India Defence index funds and ETFs are funds that hold the companies of the Nifty India Defence index, a thematic index of Indian defence businesses, so their return follows the index less costs. The funds differ in expense ratio and in how closely each follows the index.
The index they track
The Nifty India Defence is maintained by NSE Indices and picks companies by business theme. Its stocks come from the Nifty Total Market and must be in aerospace and defence, explosives or shipbuilding, or be members of the Society of Indian Defence Manufacturers that earn at least 10% of revenue from defence. It holds at least 10 stocks, weighted by free-float market capitalisation (the value of shares open to trading) with each capped at 20%, and is reconstituted in Mar and Sep. A fund tracking it is concentrated in one theme.
Tracking difference
Tracking difference is the fund's return less the index's return over the same period. Costs pull it below zero, so a figure near zero means the fund followed the index closely. The after fee column adds the year's average expense ratio back, which separates the fee from the rest of the gap.
Tracking error
Tracking error is how much the fund's daily difference from the index varies over a year. A fund can have a small tracking difference and a larger tracking error if its gap swings from day to day.
Expense ratio and fund size
The expense ratio is the yearly fee as a share of the money invested, deducted from the fund's NAV (net asset value, the value of one unit) each day, so published returns are already net of it. The page switches between the direct plan, bought straight from the fund house, and the regular plan, which pays a distributor and costs more.
How this page orders the funds
The page lists the fund with tracking difference nearest zero first, then the lowest expense ratio. Index funds are bought and sold with the fund house at NAV; ETFs trade on the exchange during market hours.