Nifty Metal index funds and ETFs

6 index funds and ETFs track the Nifty Metal, as each fund house reported for Sep 2026. Closest to the index over the year: Mirae Asset Nifty Metal 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 Metal

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 Mutual Fund logoMirae Asset Nifty Metal ETFMirae Asset Mutual FundTracking difference−0.63%After fee−0.23%Tracking error0.12%Expense ratio0.50%Fund size, ₹ Cr537Premium or discount−0.06%
  • ICICI Prudential Mutual Fund logoICICI Prudential Nifty Metal ETFICICI Prudential Mutual FundTracking difference−0.95%After fee−0.52%Tracking error0.34%Expense ratio0.47%Fund size, ₹ Cr978Premium or discount−0.11%
  • HDFC Mutual Fund logoHDFC Nifty Metal ETFHDFC Mutual FundTracking difference–After fee–Tracking error0.17%Expense ratio0.54%Fund size, ₹ Cr120Premium or discount+0.03%
  • Groww Mutual Fund logoGroww Nifty Metal ETFGroww Mutual FundTracking difference–After fee–Tracking error0.36%Expense ratio0.56%Fund size, ₹ Cr41Premium or discount−0.42%
  • Edelweiss Mutual Fund logoEdelweiss Nifty Metal ETFEdelweiss Mutual FundTracking difference–After fee–Tracking error0.45%Expense ratio1.43%Fund size, ₹ Cr7Premium or discount+0.22%
  • Motilal Oswal Mutual Fund logoMotilal Oswal Nifty Metal ETFMotilal Oswal Mutual FundTracking difference–After fee–Tracking error0.04%Expense ratio–Fund size, ₹ Cr2Premium or discount+0.06%

About Nifty Metal index funds and ETFs

Nifty Metal index funds and ETFs are funds that hold the metals and mining companies of the Nifty Metal in the index's own weights, so their return follows the index less costs. The index has up to 15 stocks, and this page lists the ETFs that track it.

The index they track

The Nifty Metal covers aluminium, copper, zinc, iron and steel, diversified metals, precious metals and mining. A company must be in the Nifty 500 (if fewer than 10 metal companies are, the rest come from the 800 largest and most traded stocks), trade on at least 90% of days in the last six months and have been listed for a month. Final selection is by free-float market capitalization: company size counted only on the shares that can trade.

Weight caps and review

At each rebalancing no stock may exceed 33% and the top 3 together may not exceed 62%. NSE Indices rebalances twice a year on data to 31 Jan and 31 Jul. The index has a base date of 1 Jan 2004, a base value of 1000, and was launched on 12 Jul 2011.

ETFs on this page

Every fund here is an ETF, traded through a broker. Its price can drift from its NAV (net asset value, the worth of one unit), and the premium or discount column is the median, across the month's trading days, of each day's close divided by that day's NAV, less one. Fund size is assets under management in ₹ crore at month end.

Tracking difference and tracking error

Tracking difference is the ETF's one-year return less the index's; costs usually make it negative. Adding the year's average expense ratio back gives the after fee figure, the part of the gap the fee does not explain. An ETF with no one-year tracking difference shows only tracking error: how much its daily returns differed from the index's, put on a yearly scale.

Expense ratio and ordering

The expense ratio is the fund's yearly charge as a share of the money invested, taken out of NAV every day. The page puts the ETF closest to the index first, then orders by expense ratio, lowest first.