📊 New: Best Tax-Saving ELSS Funds for FY 2026-27 Updated October 2026
Top Mutual Funds 2026
Best Index Funds in India 2026 - MoneyPundit

Best Index Funds in India 2026

Index funds copy a market index such as the Nifty 50, Sensex or Nifty Next 50 instead of trying to beat it, which keeps costs very low. The table below lists every index scheme in AMFI data, so you can compare returns and spot the cheapest fund for the index you want.

Index funds tracking the same benchmark can still show meaningfully different real-world returns once tracking error and expense ratio are factored in. The fund names look interchangeable, but the numbers rarely are. Here’s a live, daily-updated ranking of India’s top index funds, plus how to pick between them.

Best index funds: Best Index Funds in India 2026 – Low-Cost Passive

Index funds are mutual funds that replicate a market index like Nifty 50, Sensex, or Nifty Next 50 by holding the same stocks in the same proportion. They offer broad market exposure at extremely low costs, making them the simplest and most efficient way to participate in India’s equity market growth. The passive investing revolution in India has accelerated dramatically, with index fund AUM crossing ₹2 lakh crore in 2026.

Top Index Funds in India for 2026

Live fund data below, refreshed daily from AMFI and mfapi.in:

#Fund NameNAV (₹)1Y Return ▼3Y CAGR5Y CAGR
1ICICI Prudential NASDAQ 100 Index Fund26.17+31.83%+32.93%+20.38%
2Motilal Oswal S&P 500 Index Fund34.85+26.25%+28.15%+18.44%
3Motilal Oswal Nifty Capital Market Index Fund12.58+21.70%——
4ICICI Prudential Nifty Pharma Index Fund20.47+20.05%+20.03%—
5Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund24.28+16.97%+19.18%+13.59%
6Tata Nifty Capital Markets Index Fund14.41+16.47%——
7Motilal Oswal Nifty MidSmall Healthcare Index Fund12.32+15.79%——
8Tata Nifty MidSmall Healthcare Index Fund14.98+15.50%——
9Aditya Birla Sun Life Nifty India Defence Index Fund13.19+15.43%——
10Motilal Oswal Nifty India Defence Index Fund12.07+15.25%——
11Axis Nifty Smallcap 50 Index Fund20.63+13.70%+18.39%—
12Aditya Birla Sun Life Nifty Smallcap 50 Index Fund23.72+13.55%+18.56%+11.79%
13Bandhan BSE Healthcare Index Fund11.49+13.51%——
14Kotak Nifty Smallcap 50 Index Fund22.61+13.19%+18.42%—
15Motilal Oswal Nifty MidSmall Financial Services Index Fund13.77+12.82%——
16Motilal Oswal Nifty Microcap 250 Index Fund19.05+11.42%+16.16%—
17DSP Nifty Healthcare Index Fund11.43+11.24%——
18Bandhan Nifty Alpha 50 Index Fund14.52+9.78%——
19HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund11.03+7.08%——
20Aditya Birla Sun Life Crisil-IBX Financial Services 3 to 6 months Debt Index Fund11.35+6.91%——
21Bandhan CRISIL-IBX Financial Services 3-6 Months Debt Index Fund11.15+6.90%——
22ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund11.14+6.90%——
23Navi Nifty Smallcap250 Momentum Quality 100 Index Fund12.18+6.81%——
24Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund10.71+6.77%——
25Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund11.14+6.72%——
26Nippon India CRISIL - IBX AAA Financial Services - Dec 2026 Index Fund11.53+6.66%——
27Kotak CRISIL- IBX AAA Bond Financial Services Index - Dec 2026 Fund11.26+6.59%——
28Aditya Birla Sun Life Crisil-IBX AAA NBFC-HFC INDEX-Sep 2026 Fund11.55+6.56%——
29Kotak Nifty Alpha 50 Index Fund10.69+6.54%——
30Edelweiss CRISIL IBX AAA Bond NBFC HFC Jun 2027 Index Fund11.28+6.30%——
31Kotak CRISIL-IBX Financial Services 9 to 12 Months Debt Index Fund10.66+6.26%——
32Axis CRISIL-IBX AAA Bond NBFC - Jun 2027 Index Fund11.62+6.23%——
33Aditya Birla Sun Life Crisil-IBX Financial Services 9-12 Months Debt Index Fund11.11+6.23%——
34Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 Index Fund13.23+6.18%+7.52%—
35Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund10.81+6.13%——
36Aditya Birla Sun Life Crisil-IBX AAA Financial Services Index-Sep 2027 Fund11.47+6.09%——
37Aditya Birla Sun Life Crisil IBX 60:40 SDL+AAA PSU-APR 2027 Index Fund13.22+6.01%+7.48%—
38Axis CRISIL IBX SDL May 2027 Index Fund13.28+5.99%+7.65%—
39Kotak CRISIL-IBX AAA Financial Services Index-Sep 2027 Fund11.64+5.97%——
40Edelweiss NIFTY PSU Bond Plus SDL Apr 2027 50:50 Index Fund13.47+5.88%+7.53%+6.13%
41Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund13.29+5.86%+7.56%—
42UTI CRISIL SDL Maturity June 2027 Index Fund13.04+5.82%+7.60%—
43Motilal Oswal Nifty Smallcap 250 Index Fund40.15+5.81%+14.12%+13.29%
44Mirae Asset Nifty SDL Jun 2027 Index Fund13.30+5.80%+7.61%—
45Aditya Birla Sun Life Nifty SDL Apr 2027 Index Fund13.38+5.80%+7.44%—
46Edelweiss CRISIL IBX AAA Financial Services Bond - Jan 2028 Index Fund11.42+5.79%——
47ICICI Prudential Nifty SDL Sep 2027 Index Fund13.32+5.79%+7.66%—
48SBI CPSE Bond Plus SDL Sep 2026 50:50 Index Fund13.26+5.79%+7.24%—
49Nippon India CRISIL - IBX AAA Financial Services - Jan 2028 Index Fund11.49+5.74%——
50BANDHAN CRISIL IBX 90:10 SDL PLUS GILT - NOV 2026 INDEX FUND13.13+5.73%+7.42%—
51Aditya Birla Sun Life Nifty SDL Plus PSU Bond SEP 2026 60:40 Index Fund13.36+5.72%+7.25%+5.99%
52SBI CRISIL IBX SDL Index - September 2027 Fund13.31+5.72%+7.61%—
53ICICI Prudential Nifty PSU Bond Plus SDL Sep 2027 40:60 Index Fund13.44+5.70%+7.56%+6.10%
54Kotak Nifty SmallCap 250 Index Fund11.63+5.69%——
55BANDHAN CRISIL IBX 90:10 SDL PLUS GILT - SEPTEMBER 2027 INDEX FUND13.20+5.67%+7.69%—
56Axis CRISIL-IBX AAA Bond NBFC-HFC - Jun 2027 Index Fund11.33+5.61%——
57Aditya Birla Sun Life Nifty SDL SEP 2027 Index Fund13.01+5.60%+7.63%—
58HDFC Nifty SDL Oct 2026 Index Fund12.92+5.58%+7.28%—
59HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 Index Fund12.84+5.54%+7.50%—
60Tata Nifty G-Sec Dec 2026 Index Fund12.91+5.52%+7.22%—
61Axis Crisil IBX 50:50 Gilt Plus SDL September 2027 Index Fund12.99+5.51%+7.52%—
62ICICI Prudential Nifty SDL Sep 2026 Index Fund12.96+5.51%+7.22%—
63Axis Nifty SDL September 2026 Debt Index Fund13.07+5.49%+7.29%—
64Axis CRISIL-IBX AAA Bond Financial Services - Sep 2027 Index Fund11.38+5.47%——
65Kotak Nifty AAA Bond Financial Services Mar 2028 Index Fund10.71+5.47%——
66Edelweiss CRISIL IBX 50:50 Gilt Plus SDL June 2027 Index Fund13.29+5.46%+7.50%—
67DSP Nifty SDL Plus G-Sec Sep 2027 50:50 Index Fund13.02+5.44%+7.55%—
68HDFC Nifty G-Sec Dec 2026 Index Fund13.10+5.43%+7.17%—
69Mirae Asset Nifty SDL June 2028 Index Fund12.90+5.39%+7.70%—
70Edelweiss Nifty Smallcap 250 Index Fund18.69+5.39%+13.58%—
71Nippon India Nifty AAA PSU Bond Plus SDL - Sep 2026 Maturity 50:50 Index Fund13.09+5.37%+7.08%—
72Nippon India Nifty SDL Plus G-Sec - Jun 2028 Maturity 70:30 Index Fund13.19+5.32%+7.61%—
73UTI NIFTY SDL Plus AAA PSU Bond Apr 2028- 75:25 Index Fund13.00+5.28%+7.56%—
74Invesco India Nifty G-sec Jul 2027 Index Fund1,282.30+5.25%+7.53%—
75Tata Nifty SDL Plus AAA PSU Bond Dec 2027 60 40 Index Fund13.41+5.24%+7.39%—
76HSBC CRISIL IBX Gilt June 2027 Index Fund12.83+5.23%+7.47%—
77BANDHAN CRISIL IBX GILT JUNE 2027 INDEX FUND13.95+5.23%+7.50%+6.03%
78Nippon India Nifty G-Sec Sep 2027 Maturity Index Fund13.02+5.23%+7.46%—
79Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60 - 40 Index Fund13.32+5.20%+7.53%—
80Baroda BNP Paribas Nifty SDL December 2026 Index Fund12.88+5.19%+7.23%—
81Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund12.99+5.18%+7.57%—
82HDFC Nifty G-Sec Jun 2027 Index Fund13.06+5.17%+7.51%—
83HSBC CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund13.39+5.11%+7.55%—
84Aditya Birla Sun Life Crisil IBX Gilt June 2027 Index Fund11.73+5.11%——
85Aditya Birla Sun Life Crisil IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund13.40+5.08%+7.58%—
86DSP Nifty SDL Plus G-Sec Jun 2028 30:70 Index Fund13.40+5.08%+7.58%—
87BANDHAN CRISIL IBX GILT APRIL 2028 INDEX FUND14.03+5.02%+7.60%+6.14%
88ICICI Prudential Nifty200 Value 30 Index Fund10.33+4.97%——
89ICICI Prudential Nifty SDL Dec 2028 Index Fund13.41+4.93%+7.57%—
90Baroda BNP Paribas NIFTY SDL December 2028 Index Fund12.93+4.91%+7.53%—
91Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Sep 2028 Index Fund13.31+4.91%+7.62%—
92Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity 70:30 Index Fund12.98+4.81%+7.60%—
93SBI BSE PSU BANK INDEX FUND13.04+4.81%——
94Aditya Birla Sun Life Crisil IBX Gilt Apr 2028 Index Fund12.72+4.75%+7.19%—
95PGIM India CRISIL IBX Gilt Index - Apr 2028 Fund - Direct Plan12.91+4.72%+7.33%—
96Axis Nifty500 Value 50 Index Fund10.75+4.53%——
97Kotak Nifty SDL Jul 2026 Index Fund12.81+4.49%+6.81%—
98UTI Nifty 500 Value 50 Index Fund20.89+4.40%+19.89%—
99Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund12.86+4.39%+7.15%—
100Bandhan CRISIL-IBX 10:90 Gilt Plus SDL Index - Dec 2029 Fund11.02+4.38%——
101Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund12.97+4.34%+7.49%—
102Axis Nifty Midcap 50 Index Fund20.68+4.20%+14.35%—
103UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund11.48+4.17%——
104Aditya Birla Sun Life Crisil IBX Gilt -Apr 2029 Index Fund13.40+4.10%+7.63%—
105Tata Nifty G-Sec Dec 2029 Index Fund13.05+4.08%+7.49%—
106Bandhan Nifty 500 Value 50 Index Fund10.63+4.07%——
107Kotak Nifty Midcap 50 Index Fund10.46+4.07%——
108Aditya Birla Sun Life CRISIL IBX SDL Jun 2032 Index Fund12.95+4.06%+7.22%—
109HDFC Nifty G-Sec Apr 2029 Index Fund12.99+4.05%+7.68%—
110Kotak Nifty SDL Apr 2032 Top 12 Equal Weight Index Fund13.40+4.05%+7.16%—
111SBI CRISIL IBX Gilt Index - April 2029 Fund13.35+4.01%+7.58%—
112Groww Nifty Smallcap 250 Index Fund11.97+3.98%——
113BANDHAN CRISIL IBX 90:10 SDL PLUS GILT - APRIL 2032 INDEX FUND13.12+3.96%+7.29%—
114Nippon India Nifty Smallcap 250 Index Fund35.51+3.77%+12.51%+13.11%
115JioBlackRock Nifty Smallcap 250 Index Fund10.61+3.75%——
116BANDHAN Nifty Smallcap 250 Index Fund12.99+3.70%——
117HDFC NIFTY Smallcap 250 Index Fund19.50+3.62%+12.66%—
118SBI Nifty Smallcap 250 Index Fund19.52+3.57%+12.67%—
119ICICI Prudential Nifty Smallcap 250 Index Fund18.36+3.56%+12.64%—
120Aditya Birla Sun Life BSE 500 Momentum 50 Index Fund10.68+3.51%——
121UTI CRISIL SDL Maturity April 2033 Index Fund12.94+3.45%+6.92%—
122Kotak Nifty SDL Jul 2033 Index Fund12.86+3.37%+6.82%—
123ICICI Prudential Nifty G-Sec Dec 2030 Index Fund13.34+3.34%+7.58%—
124DSP CRISIL-IBX 50:50 Gilt Plus SDL - April 2033 Index Fund12.97+3.29%+7.26%—
125Edelweiss Nifty PSU Bond Plus SDL Apr 2026 50:50 Index Fund13.72+3.24%+6.24%+5.46%
126HDFC Nifty G-Sec July 2031 Index Fund13.24+3.24%+7.70%—
127Aditya Birla Sun Life Crisil IBX Gilt April 2033 Index Fund12.09+3.10%——
128BANDHAN CRISIL IBX GILT APRIL 2026 INDEX FUND12.77+3.04%+6.08%—
129BANDHAN CRISIL IBX GILT APRIL 2032 INDEX FUND12.99+3.03%+7.64%—
130Kotak Nifty G-Sec July 2033 Index Fund12.36+2.99%+7.28%—
131HDFC Nifty G-Sec Sep 2032 Index Fund13.10+2.96%+7.50%—
132UTI Nifty India Manufacturing Index Fund11.87+2.93%——
133Invesco India Nifty G-sec Sep 2032 Index Fund1,282.76+2.91%+7.61%—
134Navi Nifty India Manufacturing Index Fund18.56+2.89%+17.05%—
135Axis Nifty500 Momentum 50 Index Fund11.08+2.81%——
136Nippon India Nifty G-Sec Jun 2036 Maturity Index Fund13.08+2.78%+7.55%—
137SBI CRISIL IBX Gilt Index - June 2036 Fund13.36+2.78%+7.45%—
138LIC MF Nifty Next 50 Index Fund57.04+2.76%+16.66%—
139Edelweiss Nifty Next 50 Index Fund16.24+2.71%+16.56%—
140HDFC Nifty G-Sec Jun 2036 Index Fund12.97+2.71%+7.59%—
141Edelweiss CRISIL IBX 50:50 Gilt Plus SDL April 2037 Index Fund13.31+2.66%+7.10%—
142Mirae Asset CRISIL IBX Gilt Index - April 2033 Index Fund13.33+2.64%+7.48%—
143DSP BSE SENSEX Next 30 Index Fund11.42+2.58%——
144DSP Nifty Next 50 Index Fund27.55+2.54%+16.44%+10.66%
145Kotak Nifty Next 50 Index Fund20.37+2.54%+16.67%+10.65%
146Aditya Birla Sun Life Nifty Next 50 Index Fund17.29+2.52%+16.48%—
147UTI - Nifty Next 50 Index Fund25.80+2.49%+16.65%+10.49%
148Bandhan Nifty 500 Momentum 50 Index Fund8.96+2.47%——
149Navi Nifty Next 50 Index Fund16.57+2.47%+16.57%—
150Motilal Oswal Nifty Next 50 Index Fund24.96+2.44%+16.46%+10.63%
151Bandhan Nifty Next 50 Index Fund12.26+2.43%——
152Groww Nifty Next 50 Index Fund10.30+2.40%——
153Motilal Oswal Nifty 500 Momentum 50 Index Fund8.31+2.38%——
154Motilal Oswal Nifty Midcap 150 Index Fund39.65+2.14%+14.14%+13.68%
155Nippon India Nifty India Manufacturing Index Fund10.65+2.08%——
156TATA CRISIL-IBX GILT INDEX - APRIL 2026 INDEX FUND12.67+1.98%+5.71%—
157Aditya Birla Sun Life Nifty Midcap 150 Index Fund24.71+1.94%+14.01%+13.58%
158Kotak Nifty Midcap 150 Index Fund11.24+1.87%——
159Nippon India BSE Sensex Next 30 Index Fund10.26+1.86%——
160Bandhan Nifty Midcap 150 Index Fund9.94+1.83%——
161Nippon India Nifty 500 Momentum 50 Index Fund8.40+1.78%——
162Bajaj Finserv Nifty Next 50 Index Fund11.07+1.76%——
163UTI Nifty Midcap 150 Index Fund10.48+1.72%——
164JioBlackRock Nifty 8-13 yr G-Sec Index Fund10.27+1.67%——
165Axis Nifty Next 50 Index Fund17.25+1.63%+16.04%—
166JioBlackRock Nifty Next 50 Index Fund10.36+1.62%——
167Kotak Nifty Commodities Index Fund11.43+1.56%——
168SBI Nifty Next 50 Index Fund19.27+1.48%+16.02%+10.60%
169HDFC NIFTY Next 50 index Fund16.43+1.41%+15.80%—
170ICICI Prudential Nifty Next 50 Index Fund64.57+1.33%+15.83%+10.47%
171Nippon India Nifty Midcap 150 Index Fund25.31+1.33%+13.27%+13.89%
172Edelweiss BSE Internet Economy Index Fund11.26+1.32%——
173ICICI Prudential Nifty Midcap 150 Index Fund19.55+1.29%+13.21%—
174JioBlackRock Nifty Midcap 150 Index Fund10.29+1.28%——
175SBI Nifty Midcap 150 Index Fund19.04+1.27%+13.24%—
176HSBC NIFTY NEXT 50 Index Fund30.47+1.18%+15.71%—
177Kotak Nifty Midcap 150 Momentum 50 Index Fund9.29+1.17%——
178HDFC NIFTY Midcap 150 Index Fund18.66+1.16%+13.15%—
179Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund11.79+1.13%——
180Tata Nifty Next 50 Index Fund10.24+1.06%——
181Edelweiss Nifty Midcap150 Momentum 50 Index Fund18.14+1.00%+13.83%—
182Baroda BNP Paribas Nifty Midcap 150 Index Fund10.50+0.72%——
183Tata Nifty Midcap 150 Index Fund10.40+0.65%——
184Edelweiss CRISIL PSU Plus SDL 50:50 Oct 2025 Index Fund12.39+0.38%+4.94%—
185Tata Nifty200 Alpha 30 Index Fund8.69+0.04%——
186Aditya Birla Sun Life BSE 500 Quality 50 Index Fund10.28-0.65%——
187HDFC NIFTY 100 Equal Weight Index Fund16.61-0.96%+12.98%—
188Nippon India Nifty 500 Equal Weight Index Fund9.46-1.19%——
189Sundaram Nifty 100 Equal Weight Fund184.04-1.26%+12.53%—
190Tata Nifty Midcap 150 Momentum 50 Index Fund18.04-1.29%+12.69%—
191DSP Nifty Private Bank Index Fund11.18-1.30%——
192Kotak Nifty Financial Services Ex-Bank Index Fund15.48-1.33%+13.17%—
193Axis Nifty Bank Index Fund11.39-1.34%——
194Kotak Nifty 100 Equal Weight Index Fund10.50-1.35%——
195Navi Nifty Bank Index Fund14.53-1.35%+8.43%—
196Motilal Oswal Nifty Bank Index Fund20.49-1.40%+8.39%+8.39%
197BANDHAN NIFTY BANK INDEX FUND10.83-1.45%——
198UTI Nifty Private Bank Index Fund10.07-1.48%——
199kotak BSE PSU Index Fund8.84-1.58%——
200DSP Nifty Bank Index Fund11.36-1.61%——
201Navi Nifty 500 Multicap 50:25:25 Index Fund9.75-1.63%——
202HDFC NIFTY500 Multicap 50:25:25 Index Fund9.69-1.64%——
203Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund13.65-1.78%——
204Zerodha Nifty LargeMidcap 250 Index Fund13.62-1.86%——
205SBI Nifty Bank Index Fund11.05-2.00%——
206ICICI Prudential Nifty Bank Index Fund15.90-2.06%+7.81%—
207Nippon India Nifty Bank Index Fund11.90-2.16%——
208Edelweiss NIFTY Large Midcap 250 Index Fund16.44-2.45%+10.72%—
209Edelweiss Nifty500 Multicap Momentum Quality 50 Index Fund8.88-2.47%——
210Mirae Asset Nifty LargeMidcap 250 Index Fund10.00-2.65%——
211ICICI Prudential Nifty Private Bank Index Fund9.75-2.71%——
212DSP Nifty 50 Equal Weight Index Fund25.69-2.88%+10.35%+9.97%
213UTI Nifty50 Equal Weight Index Fund14.22-2.91%+10.17%—
214HDFC NIFTY LargeMidcap 250 Index Fund9.64-3.11%——
215Tata BSE Quality Index Fund10.72-3.12%——
216ICICI Prudential Nifty LargeMidcap 250 Index Fund11.84-3.15%——
217Axis Nifty500 Quality 50 Index Fund9.50-3.24%——
218UTI Nifty 200 Momentum 30 Index Fund20.60-3.24%+9.72%+8.50%
219Mirae Asset Nifty Total Market Index Fund9.93-3.29%——
220Motilal Oswal BSE 1000 Index Fund9.63-3.30%——
221Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund10.49-3.46%——
222HDFC NIFTY200 Momentum 30 Index Fund9.95-3.48%——
223Aditya Birla Sun Life Nifty 50 Equal Weight index Fund17.81-3.57%+10.19%+9.61%
224Kotak Nifty 50 Equal Weight Index Fund10.53-3.62%——
225Motilal Oswal Nifty 200 Momentum 30 Index Fund14.82-3.63%+9.37%—
226Motilal Oswal Nifty 500 Index Fund25.80-3.76%+9.57%+8.26%
227ANGEL ONE NIFTY TOTAL MARKET INDEX FUND11.30-3.94%——
228ICICI Prudential Nifty50 Equal Weight Index Fund16.03-3.96%+9.90%—
229Axis Nifty 500 Index Fund9.70-3.98%——
230HDFC NIFTY50 Equal Weight Index Fund17.41-3.99%+9.95%+9.94%
231SBI Nifty50 Equal Weight Index Fund11.46-4.02%——
232Kotak Nifty 200 Momentum 30 Index Fund14.19-4.04%+8.86%—
233ICICI Prudential Nifty 200 Momentum 30 Index Fund16.16-4.13%+8.61%—
234HDFC BSE 500 Index Fund14.92-4.14%+8.80%—
235Groww Nifty Total Market Index Fund13.34-4.19%+10.13%—
236BANDHAN NIFTY TOTAL MARKET INDEX FUND9.75-4.23%——
237Nippon India Nifty 500 Quality 50 Index Fund10.27-4.28%——
238SBI Nifty200 Momentum 30 Index Fund9.42-4.29%——
239BANDHAN NIFTY200 MOMENTUM 30 INDEX FUND15.17-4.30%+8.46%—
240Edelweiss Nifty 100 Quality 30 Index Fund13.85-4.43%+7.52%+6.69%
241Nippon India Nifty Auto Index Fund10.79-4.47%——
242Edelweiss Nifty Alpha Low Volatility 30 Index Fund9.39-4.50%——
243DSP Nifty Midcap 150 Quality 50 Index Fund14.09-4.56%+7.63%—
244Baroda BNP Paribas Nifty200 Momentum 30 Index Fund7.85-4.57%——
245UTI Nifty Alpha Low-Volatility 30 Index Fund9.10-4.59%——
246ICICI Prudential Nifty Auto Index Fund20.33-4.67%+17.17%—
247SBI Nifty 500 Index Fund9.20-4.67%——
248UTI Nifty Midcap 150 Quality 50 Index Fund13.67-4.71%+7.51%—
249Nippon India Nifty Realty Index Fund7.63-4.82%——
250ICICI Prudential Nifty 500 Index Fund9.96-4.94%——
251Nippon India Nifty Alpha Low Volatility 30 Index Fund15.05-4.95%+8.57%—
252Tata Nifty Auto Index Fund11.47-5.00%——
253Tata BSE Select Business Groups Index Fund9.51-5.07%——
254Bandhan Nifty Alpha Low Volatility 30 Index Fund9.55-5.25%——
255HDFC Nifty100 Quality 30 Index Fund10.20-5.38%——
256Tata Nifty Realty Index Fund8.45-5.48%——
257DSP Nifty Smallcap250 Quality 50 Index Fund10.86-6.05%——
258HDFC NIFTY Realty Index Fund9.24-6.09%——
259Nippon India Nifty 500 Low Volatility 50 Index Fund10.06-6.28%——
260Kotak NIFTY 100 Low Volatility 30 Index Fund10.13-6.83%——
261HDFC NIFTY100 Low Volatility 30 Index Fund9.71-6.85%——
262Aditya Birla Sun Life BSE India Infrastructure Index Fund8.64-6.91%——
263BANDHAN NIFTY 100 INDEX FUND14.24-6.93%+7.82%—
264BANDHAN Nifty100 Low Volatility 30 Index Fund14.74-6.97%+8.27%—
265SBI Nifty100 Low Volatility 30 Index Fund9.48-6.97%——
266Axis Nifty 100 Index Fund21.26-6.99%+7.74%+6.44%
267HDFC NIFTY 100 Index Fund14.16-7.08%+7.61%—
268Bandhan BSE India Sector Leaders Index Fund9.12-7.35%——
269KOTAK NIFTY 200 QUALITY 30 INDEX FUND9.21-7.52%——
270SBI Nifty200 Quality 30 Index Fund9.32-7.69%——
271ICICI Prudential Nifty200 Quality 30 Index Fund9.17-7.72%——
272Bandhan Nifty 200 Quality 30 Index Fund8.96-7.73%——
273UTI Nifty 200 Quality 30 Index Fund8.31-7.75%——
274Tata Nifty Financial Services Index Fund11.73-7.83%——
275Edelweiss Nifty 50 Index Fund13.43-8.27%+6.09%+6.06%
276DSP Nifty 50 Index Fund22.34-8.40%+6.07%+6.08%
277Motilal Oswal Nifty 50 Index Fund19.74-8.40%+6.09%+6.12%
278Franklin India NSE Nifty 50 Index Fund193.51-8.45%+6.03%+6.03%
279Navi Nifty 50 Index Fund14.94-8.85%+6.08%+5.83%
280Axis Nifty 50 Index Fund13.76-8.88%+6.06%—
281BANDHAN Nifty 50 Index Fund50.65-8.91%+6.04%+5.85%
282Mirae Asset Nifty 50 Index Fund9.44-8.96%——
283360 ONE ELSS Tax Saver Nifty 50 Index Fund12.86-8.97%+5.96%—
284HDFC Nifty 50 Index Fund221.21-9.01%+5.97%+5.74%
285DSP Nifty500 Flexicap Quality 30 Index Fund9.14-9.12%——
286Kotak Nifty 50 Index Fund15.04-9.15%+5.65%+6.00%
287JioBlackRock Nifty 50 Index Fund9.17-9.17%——
288Nippon India Index Fund - Nifty 50 Plan41.76-9.17%+5.74%+6.05%
289Groww Nifty 50 Index Fund9.07-9.18%——
290HSBC NIFTY 50 Index Fund26.78-9.23%+5.68%—
291Aditya Birla Sun Life Nifty 50 Index Fund236.20-9.23%+5.69%+5.99%
292Bajaj Finserv Nifty 50 Index Fund9.24-9.24%——
293Baroda BNP Paribas Nifty 50 Index Fund10.68-9.27%——
294ANGEL ONE NIFTY 50 INDEX FUND9.32-9.30%——
295LIC MF Nifty 50 Index Fund135.47-9.30%+5.84%+5.65%
296SBI NIFTY INDEX FUND211.49-9.31%+5.65%+6.01%
297UTI BSE Low Volatility Index Fund15.17-9.32%+6.08%—
298HDFC Nifty India Digital Index Fund8.21-9.61%——
299UTI Nifty 50 Index Fund159.16-9.78%+5.69%+5.71%
300Motilal Oswal Nifty MidSmall India Consumption Index Fund9.27-9.83%——
301HDFC Nifty Top 20 Equal Weight Index Fund9.54-10.01%——
302SBI Nifty India Consumption Index Fund9.59-10.09%——
303Groww Nifty Non-Cyclical Consumer Index Fund9.90-10.18%——
304UTI BSE Housing Index Fund13.14-10.23%+6.31%—
305Taurus Nifty 50 Index Fund45.96-10.32%+4.95%+5.11%
306UTI BSE Sensex Index Fund13.14-10.42%+4.45%—
307NAVI BSE SENSEX INDEX FUND11.33-10.42%+4.39%—
308HDFC BSE Sensex Index Fund695.34-10.48%+4.44%+4.88%
309Kotak BSE Housing Index Fund12.24-10.49%+5.96%—
310Axis BSE Sensex Index Fund10.23-10.52%——
311Zerodha Nifty 50 Index Fund9.05-10.73%——
312LIC MF BSE Sensex Index Fund146.57-10.75%+4.18%+4.69%
313Nippon India Index Fund - BSE Sensex Plan39.54-10.78%+4.07%+5.13%
314Kotak BSE Sensex Index Fund9.71-10.85%——
315SBI BSE Sensex Index Fund11.99-10.89%+4.00%—
316ICICI Prudential Nifty50 Value 20 Index Fund9.53-11.67%——
317Nippon India Nifty 50 Value 20 Index Fund16.64-11.74%+3.83%+5.78%
318DSP Nifty Top 10 Equal Weight Index Fund8.58-12.60%——
319ICICI Prudential Nifty Top 15 Equal Weight Index Fund8.81-12.96%——
320Kotak Nifty Top 10 Equal Weight Index Fund8.69-13.09%——
321Kotak Nifty India Tourism Index Fund8.25-13.53%——
322Tata Nifty India Tourism Index Fund8.76-15.07%——
323ICICI Prudential Nifty IT Index Fund9.87-16.97%-2.68%—
324Nippon India Nifty IT Index Fund7.62-17.02%——
325SBI Nifty IT Index Fund7.03-17.06%——
326DSP Nifty IT Index Fund7.29-17.30%——
327Axis Nifty IT Index Fund9.76-19.81%-3.29%—
328Navi NiftyIT Index Fund8.29-19.84%——
329Bandhan Nifty IT Index Fund9.45-20.00%-3.00%—
330Groww Nifty India Railways PSU Index Fund7.03-26.58%——
331SBI Crisil - IBX SDL Index - June 2034 Index Fund9.89———
332Tata CRISIL-IBX Financial Services 3-6 Months Debt Index Fund10.03———
333Axis BSE India Sector Leaders Index Fund9.05———
334Axis Nifty Energy Index Fund9.65———
335Axis Nifty India Defence Index Fund10.21———
336Axis Nifty50 Equal Weight Index Fund9.41———
337Axis Nifty500 Low Volatility 50 Index Fund9.75———
338Edelweiss Nifty REITs & Realty Index Fund9.50———
339Groww Nifty Midcap 150 Index Fund9.77———
340Groww Nifty Private Bank Index Fund10.10———
341Groww Nifty PSU Bank Index Fund9.60———
342Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund10.56———
343HDFC BSE REITS and Commercial Real Estate Index Fund9.68———
344HDFC Nifty Auto Index Fund9.21———
345Invesco India BSE Sensex Index Fund9.52———
346Invesco India Nifty Bank Index Fund10.18———
347Kotak Nifty Bank Index Fund9.54———
348Kotak Nifty200 Value 30 Index Fund9.03———
349Mirae Asset BSE Information Technology Index Fund9.85———
350Navi Nifty Reits & Realty Index fund9.87———
351UTI BSE India Sector Leaders Index Fund9.75———
352UTI Nifty500 Shariah Index Fund9.60———
353Mirae Asset Nifty200 Momentum 30 Plus 8-13yr G-Sec 75:25 Index Fund9.89———
354ANGEL ONE NIFTY TOTAL MARKET MOMENTUM QUALITY 50 INDEX FUND9.98———
355Choice Nifty 50 Index Fund9.62———
356Choice Nifty Next 50 Index Fund10.52———
357DSP Nifty 500 Index Fund9.21———
358DSP Nifty Midcap 150 Index Fund9.97———
359DSP Nifty Smallcap 250 Index Fund11.00———
360Edelweiss Nifty LargeMidcap250 Plus 8-13yr G-Sec 70:30 Index Fund10.37———
361HDFC BSE India Sector Leaders Index Fund8.95———
362HDFC CRISIL-IBX Financial Services 9-12 Months Debt Index Fund10.40———
363HDFC Nifty India Consumption Index Fund9.25———
364Kotak Nifty Alpha Low Volatility 30 Index Fund9.52———
365Kotak Nifty500 Momentum 50 Index Fund10.13———
366Motilal Oswal BSE Clean Environment Index Fund8.74———
367Navi Nifty Midsmallcap 400 Index Fund10.36———
368Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund10.43———
369Nippon India CRISIL-IBX Financial Services 9-12 Months Debt Index Fund10.41———
370SBI CRISIL-IBX 10:90 Gilt + SDL Index - Dec 2029 Index Fund10.25———
371SBI CRISIL-IBX Financial Services 3-6 Months Debt Index Fund10.32———
372SBI CRISIL-IBX Financial Services 9-12 Months Debt Index Fund10.30———
373SBI Nifty G-sec Jul 2031 Index Fund10.18———
374Tata BSE Multicap Consumption 50:30:20 Index Fund9.22———
375Zerodha BSE SENSEX Index Fund8.77———
376Zerodha Nifty LargeMidcap250 Plus 8-13 Yr G-Sec 70:30 Index Fund9.78———
377Zerodha Nifty MidSmallcap400 50:50 Index Fund10.96———
378Zerodha Nifty Short Duration G-Sec Index Fund1,026.06———

Data sourced from AMFI & mfapi.in. Returns are annualised CAGR. Past performance doesn't guarantee future results. Last updated: 08 Oct 2026

Why Choose Index Funds?

Ultra-Low Costs

The expense ratio of index funds typically ranges from 0.05% to 0.30%, compared to 0.50-1.50% for actively managed funds. This cost difference compounds significantly over time. On a ₹50 lakh portfolio over 20 years, a 1% lower expense ratio translates to roughly ₹15-20 lakh in additional wealth. Money that stays in your pocket instead of going to the fund house.

No Fund Manager Risk

Active fund performance depends heavily on the fund manager’s skill, decisions, and tenure. When a star fund manager leaves, the fund’s performance often suffers. Index funds eliminate this dependency entirely. The fund simply mirrors the index mechanically, so you get pure market returns regardless of who manages the fund.

Transparency

You always know exactly what an index fund holds: the same stocks as the underlying index, in the same weights. There are no surprises from concentrated bets, style drift, or hidden portfolio changes. This transparency makes index funds the most predictable equity investment available.

Popular Index Choices Explained

Nifty 50

The Nifty 50 represents India’s 50 largest companies by market capitalisation, covering approximately 65% of the total market cap of the National Stock Exchange. It includes blue-chip names like Reliance, TCS, HDFC Bank, Infosys, and Bharti Airtel. A Nifty 50 index fund gives you exposure to the backbone of the Indian economy. Historically, the Nifty 50 has delivered around 12-13% CAGR over 15-20 year periods.

Nifty Next 50

The Nifty Next 50 comprises companies ranked 51-100 by market cap. These are tomorrow’s Nifty 50 companies, large businesses on the cusp of becoming mega-caps. The Nifty Next 50 has historically delivered slightly higher returns than the Nifty 50 with moderately higher volatility, making it an excellent complement to a Nifty 50 core holding.

Nifty Midcap 150

For investors wanting mid-cap exposure through passive investing, the Nifty Midcap 150 Index Fund covers companies ranked 101-250. This index has delivered significantly higher returns than the Nifty 50 over long periods, though with substantially higher volatility. It is best suited for aggressive investors with 7+ year horizons.

Sensex

The BSE Sensex tracks the top 30 companies on the Bombay Stock Exchange. While it is the oldest and most followed index in India, the Nifty 50 offers broader diversification with 50 stocks. For index fund investing, Nifty 50 funds are generally preferred over Sensex funds due to this wider coverage.

Index Fund vs ETF – Key Differences

FeatureIndex FundETF
Buying MethodThrough AMC or MF platformStock exchange via demat account
SIP AvailableYesNot directly (manual buying needed)
Expense RatioSlightly higher (0.10-0.30%)Lower (0.05-0.15%)
LiquidityNAV-based (end of day)Real-time market price
Impact CostNoneBid-ask spread applies
Demat RequiredNoYes
Best ForSIP investorsActive traders, large lumpsum

For most retail investors doing SIPs, index mutual funds are more convenient than ETFs. The slightly higher expense ratio is offset by the ease of SIP automation and no need for a demat account or dealing with market bid-ask spreads. Planning your SIP amount first makes this comparison easier. Use our SIP Calculator to estimate your monthly investment and expected corpus before choosing an index fund.

How to Select the Best Index Fund

Tracking Error

The most critical metric for comparing index funds tracking the same benchmark. Tracking error measures how closely the fund mirrors its target index. A tracking error below 0.10% is excellent. Higher tracking errors mean the fund is deviating more from the index, resulting in returns that differ from what you expect.

Expense Ratio

Lower is always better for index funds since they all track the same benchmark. Even a 0.10% difference in expense ratio matters when compounded over decades. Compare direct plan expense ratios, as regular plans add distributor commissions that significantly increase costs.

AUM Size

Larger index funds tend to have lower tracking errors because they can more efficiently replicate the index with their larger asset base. Funds with AUM above ₹5,000 crore generally deliver better index replication than very small funds.

Building a Portfolio with Index Funds

A simple yet effective portfolio can be constructed entirely with index funds. A popular approach is the 60:40 split, 60% in Nifty 50 Index Fund and 40% in Nifty Next 50 Index Fund. This gives you exposure to the top 100 Indian companies at an average expense ratio below 0.25%. For more aggressive investors, adding a 20% allocation to a Nifty Midcap 150 Index Fund creates a comprehensive three-fund portfolio covering the entire Indian equity market spectrum.

Authoritative Resources

Research best index funds India 2026 through these official sources:

  • AMFI India: Official index fund NAVs and AUM data
  • NSE India: Nifty 50, Nifty Next 50, Nifty Midcap 150 benchmark data
  • SEBI: Index fund and ETF regulatory framework
  • Value Research: Independent tracking error analysis and fund comparisons
  • BSE India: Sensex and S&P BSE index benchmarks

Frequently Asked Questions

Do index funds beat active funds?

In the large cap category, yes: over 70% of active large cap funds have underperformed the Nifty 50 over 5-year periods. In mid and small cap categories, active funds still have an edge, though this gap is narrowing. For most investors, index funds offer the best probability of achieving market returns at the lowest cost.

Can I lose money in index funds?

Yes, in the short term. Index funds carry full market risk. During the 2020 COVID crash, the Nifty 50 fell 38% in a month. However, no index fund investor has lost money over any 10-year holding period in Indian market history. Time in the market is crucial for index fund success.

Which is better: Nifty 50 or Sensex index fund?

Nifty 50 offers broader diversification with 50 stocks compared to Sensex’s 30. The returns are very similar over long periods, but Nifty 50 funds are more popular, have larger AUM, and offer better competition-driven low expense ratios. For most investors, a Nifty 50 index fund is the better choice.

References: Amfiindia.com

Related reading: ETF vs Mutual Fund: Which Should You Choose?

Index Funds: Key Takeaways

Pick the index first, then the fund. For two funds tracking the same index, the one with the lower expense ratio and smaller tracking error usually wins, and direct plans cost less than regular plans. Index funds tracking an equity index are taxed under equity rules: 20% on units sold within 12 months and 12.5% on gains above Rs 1.25 lakh a year after that. Compare other categories on the mutual fund categories hub, see large cap funds as the active alternative, estimate returns with the SIP calculator and read scheme documents on AMFI and SEBI before you invest. Mutual fund investments are subject to market risks.

Ask Us a Question

Tell us what you would like to learn about. We use your message to suggest guides and calculators. We do not give personalised investment, tax or legal advice.

Please enter your name
Enter a valid 10-digit mobile number
Enter a valid email address
Please select a topic
Your information is 100% secure & never shared.

Thank You!

We have received your details. We will get back to you if a reply is needed.

Scroll to Top