Nifty100 Equal Weight index funds and ETFs

The Nifty100 Equal Weight is maintained by NSE Indices and holds the same 100 companies as the Nifty 100. The Nifty 100 weights each company by free float market capitalisation, the value of the shares normally available for trading, so the largest companies carry the most weight. The equal weight version gives each company the same 1% instead. Its base date is 1 Jan 2003 with a base value of 1000.

Prices move the weights away from 1% each day. They are reset to 1% every quarter, on the last trading day of Mar, Jun, Sep and Dec, and also when a company is replaced. Membership follows the Nifty 100, which is reviewed every six months on data to 31 Jan and 31 Jul.

This page lists the index funds that track this index, each fund house's own scheme, with a direct and a regular plan view. The funds are ordered by tracking difference closest to zero, then by lowest expense ratio.

Tracking difference is the fund's return less the index's over the year to the month's end. Costs usually make it negative. The after fee figure adds the year's average expense ratio back, showing drift that is not the fee. Tracking error is how far the fund's daily returns differed from the index's, stated as a yearly figure. The expense ratio is the yearly charge as a share of invested money.

Both hold the same stocks. A Nifty 100 fund holds more of the largest companies, while this one holds the smallest of the hundred in the same amount as the largest. The two returns therefore diverge whenever large and small companies in the index move differently.