Nifty Realty index funds and ETFs

The Nifty Realty is maintained by NSE Indices and covers companies that build residential and commercial property. It has a base date of 29 Dec 2006 with a base value of 1000, and was launched on 30 Aug 2007. A company must be in the Nifty 500, belong to the Realty sector, have traded at least 90% of the time in the last six months and have listed at least a month before the cut-off date. The index holds 10 companies, picked by free-float market capitalization (company size counted only on the shares available for trading).

Companies are weighted by free-float market capitalization. At each rebalancing no stock can exceed 33% and the top 3 together cannot exceed 62%, so with 10 members the three largest developers can make up most of the index. The index is reviewed twice a year, with cut-off dates of 31 Jan and 31 Jul, using six-month averages.

This page lists the index funds that track the Nifty Realty, with a Direct plan and Regular plan view. Funds are ordered by how close they sit to the index over the year, then by expense ratio.

Tracking difference compares the fund's one-year return with the index's; costs usually leave it below zero. Adding the year's average expense ratio back gives the after fee figure, the part of the gap the fee does not explain. Tracking error is the yearly measure of how much the fund's daily returns strayed from the index's.

Each fund charges a yearly expense ratio, a share of the money invested taken out of NAV (net asset value, the value of one unit) every day, so the returns shown are already after it. The Regular plan costs more than the Direct plan because it pays a distributor's commission. Fund size counts every plan at month-end.