Best Index Funds in India

81 index funds in India, of which 66 meet the eligibility criteria, ranked on expense ratio. Cheapest way to track an index?

Ranked on expense ratio and tracking — a passive fund’s job is to be cheap and accurate.

Index Funds ranked by expense ratio

#Fund
1Navi Nifty 50 Index Fund-Direct Plan-Growth0.10%+0.97%+13.14%₹4,015 Cr₹16.1639
2Kotak Nifty 50 Index Fund - Direct Plan-Growth0.14%+1.00%+13.04%₹1,143 Cr₹16.349
3BANDHAN Nifty 50 Index Fund-Direct Plan-Growth0.14%+0.94%+13.24%₹2,702 Cr₹55.0745
4Motilal Oswal Nifty 50 Index Fund - Direct plan - Growth0.19%+0.97%+14.85%₹883 Cr₹21.4657
5Axis Nifty Next 50 Index Fund - Direct Plan - GrowthBronze0.22%+13.44%+18.33%₹510 Cr₹18.5748
6HSBC NIFTY 50 INDEX FUND - Direct Growth0.22%+0.89%+11.91%₹384 Cr₹29.1192
7ICICI Prudential BSE Sensex Index Fund - Direct Plan - Cumulative Option0.22%-1.72%+14.73%₹1,843 Cr₹26.2457
8Motilal Oswal Nifty 500 Index Fund - Direct Plan0.23%+5.42%+17.55%₹2,968 Cr₹27.754
9ICICI Prudential Nifty Bank Index Fund - Direct Plan Growth0.23%+4.65%+12.29%₹765 Cr₹16.6617
10DSP Nifty 50 Index Fund - Direct Plan - Growth0.23%+0.96%+14.83%₹1,096 Cr₹24.2855
11HDFC BSE Sensex Index Fund - Direct Plan0.23%-1.75%+12.89%₹8,485 Cr₹751.9536
12ICICI Prudential Nifty 50 Index Fund - Direct Plan Cumulative Option0.24%+0.88%+13.16%₹16,839 Cr₹260.1903
13SBI NIFTY INDEX FUND - DIRECT PLAN - GROWTH0.24%+0.84%+12.99%₹13,646 Cr₹230.0214
14Axis Nifty 100 Index Fund - Direct Plan - Growth Option0.25%+3.01%+15.32%₹2,024 Cr₹23.0808
15Navi Nifty Next 50 Index Fund- Direct Plan- GrowthBronze0.26%+13.23%+18.20%₹1,266 Cr₹17.8001
16Edelweiss Nifty Smallcap 250 Index Fund - Direct Plan - Growth0.26%+9.93%+19.79%₹249 Cr₹19.1255
17Kotak Nifty Next 50 Index Fund - Direct Plan - Growth OptionGold0.27%+13.39%+19.53%₹1,206 Cr₹21.9317
18Axis Nifty Midcap 50 Index Fund - Direct Plan - Growth OptionGold0.29%+13.58%+24.57%₹701 Cr₹22.2667
19Kotak Nifty Financial Services Ex-Bank Index Fund - Direct Plan - Growth optionBronze0.30%+11.47%₹100 Cr₹17.119
20Franklin India INDEX FUND- NSE NIFTY 50 INDEX FUND- Direct - Growth0.30%+0.89%+12.86%₹723 Cr₹210.3614
21HDFC Nifty 50 Index Fund - Direct Plan0.30%+0.84%+13.19%₹23,703 Cr₹240.6158
22Motilal Oswal Nifty Bank Index Fund - Direct Plan0.31%+4.62%+12.92%₹673 Cr₹21.4727
23LIC MF Nifty Next 50 Index Fund-Direct Plan-GrowthBronze0.32%+13.59%₹108 Cr₹61.4191
24Kotak Nifty Smallcap 50 Index Fund - Direct Plan - GrowthSilver0.33%+16.57%₹220 Cr₹23.211
25Motilal Oswal Nifty Midcap 150 Index Fund - Direct PlanBronze0.33%+10.96%+25.37%₹3,730 Cr₹42.594

Badges are our own quality tiers — Platinum (top 10%), Gold (25%), Silver (50%), Bronze (75%) — scored within each sub-category, so they compare a fund with its peers and not with funds of a different type. “3Y typical” is the median annualised return across every 3-year holding period the fund has lived through, not a single 3-year figure; “3Y loss odds” is the share of those periods that ended down. “Beat peers” is the share in which it beat its category's median, and “worst fall” is its deepest peak-to-trough drop. Open a fund for the full distribution. Click any numeric column to re-sort; funds with no value for that column sort last. Returns over 1 year are annualised (CAGR). Past performance does not indicate future returns. Eligibility: Direct, Growth only, minimum AUM ₹100 Cr, at least 1 year(s) old. Past performance. Returns for 3y/5y are annualised (CAGR) and are withheld where the NAV series does not support the period.

Index Funds — FAQs
What should I compare between two index funds on the same index?

Cost and tracking. Two funds following the same index hold the same securities, so the difference in what you receive comes from the expense ratio and from how closely the fund tracks the index — its tracking difference and tracking error.

Index fund or ETF?

An ETF trades on an exchange, needs a demat account, and its market price can differ slightly from NAV. An index fund is bought at NAV like any mutual fund and supports SIPs, usually at a marginally higher expense ratio.