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Cafemutual Index Funds Research shows that 10 large cap ETFs – ICICI Prudential Nifty 50 ETF, ICICI Prudential S&P BSE Sensex ETF, Invesco India Nifty 50 ETF, Kotak Nifty 50 ETF, Mirae Asset Nifty 50 ETF, Nippon India ETF Nifty 50 BeES, SBI Nifty 50 ETF, SBI S&P BSE Sensex ETF, UTI Nifty 50 ETF and UTI S&P BSE Sensex ETF have the lowest tracking error of 0.03.
Tracking error is the extent to which returns of an index fund have deviated from its underlying index. Statistically, tracking error is the difference between annualised standard deviation of the fund and its benchmark.
In the mid cap space, ICICI Prudential Nifty Midcap 150 ETF and Nippon India ETF Nifty Midcap 150 have the lowest racking error of 0.09 and 0.11.
In factor and sectoral categories, ICICI Prudential Nifty 100 Low Volatility 30 ETF, ICICI Prudential Nifty Private Bank ETF and Kotak Nifty Bank ETF have the lowest tracking errors of 0.04, 0.03, and 0.05, respectively.
This research includes the tracking error data of 113 ETF schemes as on October, 2022.
Here are the top 3 funds across all categories with the lowest tracking error.
Large Cap: Top 3 of total 39 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 (10 Schemes) |
ICICI Prudential Nifty 50 ETF |
0.03 |
|
ICICI Prudential S&P BSE Sensex ETF |
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Invesco India Nifty 50 ETF |
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Kotak Nifty 50 ETF |
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Mirae Asset Nifty 50 ETF |
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Nippon India ETF Nifty 50 BeES |
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SBI Nifty 50 ETF |
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SBI S&P BSE Sensex ETF |
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UTI Nifty 50 ETF |
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UTI S&P BSE Sensex ETF |
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|
2 (4 Schemes) |
Axis Nifty 50 ETF |
0.04 |
|
ICICI Prudential Nifty 100 ETF |
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Kotak S&P BSE Sensex ETF |
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SBI S&P BSE 100 ETF |
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|
3 (6 Schemes) |
Aditya Birla Sun Life Nifty 50 ETF |
0.05 |
|
Aditya Birla Sun Life S&P BSE Sensex ETF |
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Nippon India ETF Nifty 100 |
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Nippon India ETF S&P BSE Sensex |
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SBI Nifty IT ETF |
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HDFC Nifty 50 ETF |
Mid Cap: Top 3 of total 4 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 |
ICICI Prudential Nifty Midcap 150 ETF |
0.09 |
|
2 |
Nippon India ETF Nifty Midcap 150 |
0.11 |
|
3 |
Motilal Oswal Nifty Midcap 100 ETF |
0.37 |
Debt: Top 3 of total 3 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 |
DSP NIFTY 1D Rate Liquid ETF |
0.06 |
|
|
Nippon India ETF Nifty 1D Rate Liquid BeES |
0.06 |
|
2 |
SBI Nifty 10 yr Benchmark G-Sec ETF |
0.15 |
|
3 |
ICICI Prudential S&P BSE Liquid Rate ETF |
0.27 |
Factor: Top 3 of total 7 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 |
ICICI Prudential Nifty 100 Low Volatility 30 ETF |
0.04 |
|
2 |
SBI Nifty 200 Quality 30 ETF |
0.05 |
|
3 |
ICICI Prudential Nifty50 Value 20 ETF |
0.06 |
Gold: Top 3 of total 11 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 |
Nippon India ETF Gold BeES |
0.18 |
|
2 |
Aditya Birla Sun Life Gold ETF |
0.25 |
|
3 |
UTI Gold ETF |
0.27 |
International: Top 3 of total 4 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 |
Motilal Oswal NASDAQ 100 ETF |
0.10 |
|
2 |
Mirae Asset NYSE FANG+ ETF |
0.13 |
Sector: Top 3 of total 20 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 |
ICICI Prudential Nifty Private Bank ETF |
0.03 |
|
2 (4 Schmes) |
ICICI Prudential Nifty Healthcare ETF |
0.04 |
|
Nippon India ETF Nifty Bank BeES |
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Nippon India ETF Nifty Bank BeES |
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UTI Nifty Bank ETF |
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|
3 |
Nippon India Nifty Pharma ETF |
0.05 |
Thematic: Top 3 of total 11 schemes reported
|
Ranking |
Scheme Name |
Tracking |
|
1 (3 Schemes) |
Kotak Nifty Bank ETF |
0.05 |
|
Mirae Asset Nifty Financial Services ETF |
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SBI Nifty Consumption ETF |
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|
2 (2 Schemse) |
Axis NIFTY Healthcare ETF |
0.06 |
|
Mirae Asset Nifty 100 ESG |
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|
Sector Leaders ETF |
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|
3 |
Nippon India ETF Nifty India Consumption |
0.07 |
