Nifty Smallcap 250 index funds and ETFs

18 index funds and ETFs track the Nifty Smallcap 250, as each fund house reported for Sep 2026. Closest to the index over the year: Edelweiss Nifty Smallcap 250 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 Smallcap 250

Closest to the index first, then the lowest expense ratio. Over the year to the month's end.The Nifty Smallcap 250

ETFs on the Nifty Smallcap 250

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.

  • HDFC Mutual Fund logoHDFC Nifty Smallcap 250 ETFHDFC Mutual FundTracking difference−0.50%After fee−0.25%Tracking error0.13%Expense ratio0.26%Fund size, ₹ Cr2,708Premium or discount+0.15%
  • Motilal Oswal Mutual Fund logoMotilal Oswal Nifty Smallcap 250 ETFMotilal Oswal Mutual FundTracking difference−0.53%After fee−0.13%Tracking error0.21%Expense ratio0.50%Fund size, ₹ Cr250Premium or discount−0.11%
  • DSP Mutual Fund logoDSP Nifty Smallcap 250 ETFDSP Mutual FundTracking difference–After fee–Tracking error0.35%Expense ratio0.25%Fund size, ₹ Cr8Premium or discount+0.03%
  • Mirae Asset Mutual Fund logoMirae Asset Nifty Smallcap 250 ETFMirae Asset Mutual FundTracking difference–After fee–Tracking error0.15%Expense ratio0.29%Fund size, ₹ Cr82Premium or discount+0.08%
  • Groww Mutual Fund logoGroww Nifty Smallcap250 ETFGroww Mutual FundTracking difference–After fee–Tracking error0.28%Expense ratio0.38%Fund size, ₹ Cr17Premium or discount+0.08%
  • SBI Mutual Fund logoSBI Nifty Smallcap 250 ETFSBI Mutual FundTracking difference–After fee–Tracking error–Expense ratio0.69%Fund size, ₹ Cr9Premium or discount+0.08%
  • ICICI Prudential Mutual Fund logoICICI Prudential Nifty Smallcap 250 ETFICICI Prudential Mutual FundTracking difference–After fee–Tracking error0.31%Expense ratio0.91%Fund size, ₹ Cr9Premium or discount+0.21%

About Nifty Smallcap 250 index funds and ETFs

Nifty Smallcap 250 index funds and ETFs hold the 250 companies of the Nifty Smallcap 250, the index of the companies ranked 251st to 500th by market value within the Nifty 500. They aim to match its return, less costs.

The index

The Nifty Smallcap 250 is maintained by NSE Indices. It is the lower half of the Nifty 500, the 250 companies that rank below the Nifty 100 and the Nifty Midcap 150 by market capitalisation (share price times number of shares).

Each company's weight depends on its free-float market capitalisation, which counts only the shares open to public trading. The index is reconstituted twice a year.

Tracking an index

A fund tracking the index buys the same companies in similar proportions, so its return follows the index instead of depending on a manager's choices. An index fund is bought from the fund house at the day's NAV (net asset value, the price of one unit); an ETF trades on the exchange like a share.

How the page compares funds

Funds are sorted by closeness to the index, then by lowest expense ratio. Tracking difference is the fund's one-year return minus the index's one-year return, so costs usually make it negative. The after-fee figure adds back the year's average expense ratio, showing gaps from causes other than fees.

Tracking error is a yearly figure for how much the fund's daily returns differed from the index. For ETFs the page also shows premium or discount: the median, across the month's trading days, of each day's close divided by that day's NAV, less one.

Plans and demat

A Direct plan has a lower expense ratio because it pays no distributor commission. ETFs need a demat account.