Introduction
As Exchange-Traded Funds are gaining more and more traction in the Indian market, you are exposed to diversified asset classes. From equity and debt to global and gold ETFs, the options have expanded. This lets you fine-tune your portfolios. The liquidity, diversification, and ease of access are qualities of ETFs you can benefit from. You can trade them like individual stocks on the stock exchanges. Hence, no matter your expertise, you can trade in ETFs. If you are looking for the top picks in 2024, this blog is for you.
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7 Best ETFs in India in 2024
You can choose from any of these high-performing ETFs in India in 2024 to reach your investment goals:
The Nippon India ETF Next 50 Junior BeES focuses on mid-cap stocks tracking the Nifty Next 50 index. This ETF offers you exposure to high-growth potential companies that are not yet part of the Nifty 50 but are expected to rise in prominence. The fund's performance closely follows the index, which makes it a viable option for growth-oriented strategies. Its NAV is Rs.752.6 at the market capitalisation of Rs.5,381.26, and a 1-year return rate of 60.28%.
The HDFC Gold ETF enables you to invest in gold without the hassle of physical ownership. This ETF tracks the price of gold. It provides a cost-effective way to gain exposure to this precious metal. It serves as an effective hedge against inflation and currency fluctuations. So, it is appealing if you like to invest conservatively. Its NAV is Rs.68.25 while the market capitalisation is Rs.4,453.68 crores, and the 1-year return rate is 26.39%.
The Mirae Asset Nifty 50 ETF tracks the Nifty 50 index that comprises the top 50 companies listed on the National Stock Exchange (NSE) by market capitalisation. This ETF is known for its liquidity and low expense ratio. It offers broad exposure to the Indian equity market and is ideal for long-term investing, where growth and stability are the priority. Its performance closely mirrors that of the underlying index, so you can capture market movements effectively. Its NAV is Rs.260.28, while the market capitalisation is Rs.2,402.49 crores, and the 1-year return is 9.54%.
The SBI ETF Nifty Next 50 invests in the next 50 largest companies listed on the NSE. It exposes you to the market leaders. This ETF aims to capture mid-cap growth opportunities while maintaining a diversified portfolio. Tracking the Nifty Next 50 index provides a good balance between risk and return for long-term growth. Its NAV is Rs.258.49, while its market capitalisation is at Rs.11,402.97 crores, and the 1-year return rate is 28.53%.
The Invesco India Gold ETF is designed to provide investors with returns that closely correspond to the performance of gold bullion. This ETF offers an easy way to invest in gold without holding the physical asset. It is suitable for those looking to hedge against inflation and market volatility. With a transparent structure, it is an attractive option for conservative investing, where you can diversify your portfolio with gold. Its NAV is Rs. 6,980.2, while its market capitalisation is Rs.123.4 crores, and the 1-year return rate is 28.09%.
The Quantum Nifty ETF tracks the Nifty 50 index, which provides you with a way to invest in the top companies in India. This ETF is characterised by its direct exposure to the equity market. It is suitable for you if you are seeking a long-term growth strategy while maintaining the benefits of diversification. The ETF's performance closely follows that of the Nifty 50, making it a reliable choice for market exposure. Its NAV is Rs,2,642.96, with a market capitalisation is at Rs.56.65 crores and a 1-year return rate is 28.62%.
The UTI BSE Sensex ETF aims to replicate the performance of the BSE Sensex, which consists of the 30 largest and most actively traded stocks on the Bombay Stock Exchange. This ETF is ideal if you are seeking exposure to blue-chip companies and offers a good mix of stability and growth potential. You can invest in India's leading firms while minimising costs. Its NAV is Rs.875.55, while its market capitalisation is Rs.41,404.86 crores, and the 1-year return rate is 26.94%.
Note: The data for the funds above is as updated on 29th October 2024.
Conclusion
Exchange-traded funds (ETFs) offer an exciting opportunity to build a diversified portfolio while enjoying the benefits of liquidity and ease of access. With options ranging from equity to gold ETFs, there's something for every type of investor. The top-performing ETFs for 2024 listed above can help you achieve your financial goals by providing a mix of stability and growth potential.
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