Introduction
You can align your portfolio with the broader market when you invest in index mutual funds. Nifty 50 index mutual funds is a type of index fund that tracks the Nifty 50, which is India's benchmark index. Such tracking lets you, as an investor, explore the growth potential of funds with diversification and low costs. If you are interested and want to find the top-performing Nifty 50 index funds this year, this blog is for you.
7 Top-performing Nifty index funds in November 2024
These seven funds are the best-performing Nifty 50 index funds in 2024:
The UTI Nifty 50 Index Fund is a market leader known for its consistent performance. With a low expense ratio of 0.25% and a 5-year CAGR of approximately 15.53%, it provides a cost-effective way to mirror the Nifty 50 index performance. Its significant asset base reflects the trust of the investors. The focus on passive management minimises deviation from the benchmark. Its AUM as of 14th November 2024 was Rs.20,432.09 crores.
HDFC Index Fund – Nifty 50 Plan is a dependable choice if you consider conservative investing for stability. With a history of solid returns, this fund has maintained a 5-year CAGR of around 15.56%. As it is managed by one of India's leading financial institutions, it benefits from a disciplined investment strategy. It comes with an expense ratio of 0.20% and an AUM of Rs.18,914.92 crores as of 14th November 2024.
The SBI Nifty Index Fund has carved out a strong reputation in the index fund segment. It currently offers a 5-year CAGR of around 15.50%. The fund combines competitive returns with a straightforward approach. Its performance aligns with the Nifty 50 index with a low tracking error. Also, its AUM of around 8,465 cores and an expense ratio of 0.20% make it an appealing option if you are looking for simplicity and consistency.
ICICI Prudential Nifty Index Fund is a popular choice if you are aiming for growth through exposure to the Nifty 50 index. With its robust track record, the fund boasts competitive returns, with its 5-year CAGR reaching approximately 15.34%. Its prudent management and focus on minimising costs make it suitable for getting value and long-term performance. Its expense ratio is 0.35%, and its AUM at 11,903.75 crores as of 14th November 2024.
Previously under IDFC Mutual Fund, this fund is now part of Bandhan Asset Management. It is known for its consistent returns, which is reflected in its 5-year CAGR of around 15.47%. Its emphasis on tracking the benchmark closely makes it a reliable option, especially if you are a passive investor. It aims to replicate the market's performance over the long term. Its AUM is Rs.1,629.27 crores, with an expense ratio of 0.60% as of 14th November 2024.
The Nippon India Index Fund – Nifty 50 Plan is a standout performer. It offers all its investors an opportunity to participate in the growth of India's largest corporations. With competitive returns and a focus on efficient fund management, it maintains low tracking errors and a reasonable expense ratio of 0.07%. Its 5-year CAGR comes down to 15.59%m and the AUM is at Rs. 2,029.93 cores as of 14th November 2024.
Tata Nifty 50 index Fund combines the reliability of the Tata brand with its strong index-tracking capabilities. With a focus on delivering returns that mirror the Nifty 50 index, it has achieved a 5-year CAGR of approximately 15.82%. It is also known for its transparency and cost-effectiveness with an expense ratio of 0.52%. Its AUM is worth Rs. 941.9982 crores as of 14th November, 2024. It is a suitable investment if you are looking to invest in a trusted name while benefiting from India's economic growth.
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Conclusion
Investing in Nifty 50 index funds is an excellent way to gain exposure to India's top 50 companies with low costs and minimal effort. The funds listed in this blog have offered solid returns over the last 5 years. They are set on the path of long-term growth.
While you consider these options, look into factors like expense ratio, tracking error, and past performance to know if they align with your financial goals. Also, look into the fund manager's reputation and track record to get the most value. Selecting from these top-performing funds enables you to efficiently grow your wealth while you minimise the risk and cost. Make a pick that fits your risk appetite and investment motivations to make the most of your investment journey.
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