This is not financial advice. Only for educational purposes.
There are more than 25 NIFTY 50 Index Funds available. Expense ratios changes over time. Tracking error also changes over time.
Below is the list of all NIFTY 50 Index Funds in India available as on Jan 29, 2026.
| Fund Name | Start Date | 3yr Return |
|---|---|---|
| HDFC Nifty 50 Index Fund - Growth Plan | 2006-04-03 | 13.22% |
| Franklin India INDEX FUND- NSE NIFTY 50 INDEX FUND- Direct - Growth | 2013-01-01 | 13.67% |
| Tata Nifty 50 Index Fund -Direct Plan | 2013-01-02 | 13.19% |
| Aditya Birla Sun Life Nifty 50 Index Fund - Growth - Direct Plan | 2013-01-02 | 13.69% |
| BANDHAN Nifty 50 Index Fund-Direct Plan-Growth | 2013-01-02 | 13.74% |
| LIC MF Nifty 50 Index Fund-Direct Plan-Growth | 2013-01-02 | 13.52% |
| Nippon India Index Fund - Nifty 50 Plan - Direct Plan Growth Plan - Growth Option | 2013-01-02 | 13.73% |
| UTI Nifty 50 Index Fund - Growth Option- Direct | 2013-01-02 | 13.72% |
| Taurus Nifty 50 Index Fund - Direct Plan - Growth | 2013-01-03 | 12.82% |
| DSP Nifty 50 Index Fund - Direct Plan - Growth | 2019-02-22 | 13.72% |
| Motilal Oswal Nifty 50 Index Fund - Direct plan - Growth | 2019-12-26 | 13.78% |
| Kotak Nifty 50 Index Fund - Direct Plan-Growth | 2021-06-24 | 13.6% |
| Navi Nifty 50 Index Fund-Direct Plan-Growth | 2021-07-16 | 13.76% |
| Edelweiss Nifty 50 Index Fund Direct Plan Growth | 2021-10-07 | 13.65% |
| Axis Nifty 50 Index Fund - Direct Plan - Growth | 2021-12-08 | 13.74% |
| Quantum Nifty 50 ETF Fund of Fund - Direct Plan - Growth | 2022-08-05 | 13.78% |
| HSBC NIFTY 50 INDEX FUND - Direct Growth | 2022-11-28 | 13.71% |
| 360 ONE ELSS Tax Saver Nifty 50 Index Fund - Direct Plan - Growth | 2023-01-02 | 13.53% |
| Baroda BNP Paribas Nifty 50 Index Fund - Direct Plan - Growth option | 2024-01-30 | N/A |
| Mirae Asset Nifty 50 Index Fund - Direct Plan - Growth | 2024-10-25 | N/A |
| ICICI Prudential Nifty 500 Index Fund - Direct Plan - Growth | 2024-12-23 | N/A |
| Bajaj Finserv Nifty 50 Index Fund - Direct - Growth | 2025-05-19 | N/A |
| ANGEL ONE NIFTY 50 INDEX FUND-DIRECT-GROWTH | 2025-05-28 | N/A |
| Groww Nifty 50 Index Fund Direct Growth | 2025-07-22 | N/A |
| JioBlackRock Nifty 50 Index Fund - Direct Plan - Growth Option | 2025-08-22 | N/A |
| Zerodha Nifty 50 Index Fund - Direct Plan - Growth | 2025-10-17 | N/A |
Even though all these funds are tracking the same index, the return varies from 12.82% to 13.78% almost 1% CAGR difference.
For analysis purpose, let's consider only the funds which has longest history started in 2013. There are 9 Funds Totally.
| Fund Name | Expense Ratio | Tracking Error |
|---|---|---|
| HDFC Nifty 50 Index Fund - Growth Plan | 0.20 | 0.02 |
| Franklin India INDEX FUND- NSE NIFTY 50 INDEX FUND- Direct - Growth | 0.28 | 0.28 |
| Tata Nifty 50 Index Fund -Direct Plan | 0.19 | 0.14 |
| Aditya Birla Sun Life Nifty 50 Index Fund - Growth - Direct Plan | 0.21 | 0.01 |
| BANDHAN Nifty 50 Index Fund-Direct Plan-Growth | 0.10 | 0.02 |
| LIC MF Nifty 50 Index Fund-Direct Plan-Growth | 0.64 | 0.09 |
| Nippon India Index Fund - Nifty 50 Plan - Direct Plan Growth Plan - Growth Option | 0.07 | 0.03 |
| UTI Nifty 50 Index Fund - Growth Option- Direct | 0.21 | 0.02 |
| Taurus Nifty 50 Index Fund - Direct Plan - Growth | 0.72 | 0.19 |
Nippon has the lowest expense ratio. Aditya Birla has the lowest tracking error.
Which one is the ratio to look at to find the best fund? Let's find it out.
Rolling Returns is the analysis of returns for every possible start and end date combination. For example:
Combining all these periods, we get the rolling returns.
| Metric | HDFC | Franklin India | Tata | Aditya Birla | BANDHAN | LIC | Nippon India | UTI | Taurus |
|---|---|---|---|---|---|---|---|---|---|
| Avg % | 12.95% | 12.76% | 13.01% | 12.64% | 13.24% | 12.71% | 12.99% | 13.17% | 12.90% |
| Median % | 13.15% | 12.98% | 13.25% | 12.91% | 13.44% | 12.95% | 13.24% | 13.36% | 12.97% |
| Min % | -4.99% | -5.10% | -4.28% | -5.12% | -4.47% | -5.24% | -4.84% | -4.83% | -4.63% |
| Max % | 31.62% | 31.19% | 31.13% | 31.25% | 31.83% | 31.54% | 31.79% | 32.06% | 31.48% |
Bandhan has higher average & median return amoung all 9 funds but Tata has the best downside protection (minimum return).
| Return Range | HDFC | Franklin India | Tata | Aditya Birla | BANDHAN | LIC | Nippon India | UTI | Taurus |
|---|---|---|---|---|---|---|---|---|---|
| Negative | 25 (1.01%) | 32 (1.29%) | 24 (0.97%) | 31 (1.25%) | 20 (0.81%) | 32 (1.30%) | 24 (0.97%) | 24 (0.97%) | 21 (0.85%) |
| 0–8% | 242 (9.76%) | 267 (10.77%) | 264 (10.65%) | 316 (12.75%) | 243 (9.80%) | 288 (11.66%) | 262 (10.57%) | 233 (9.40%) | 268 (10.79%) |
| 8–12% | 708 (28.56%) | 711 (28.68%) | 682 (27.51%) | 699 (28.21%) | 658 (26.54%) | 700 (28.35%) | 688 (27.75%) | 680 (27.43%) | 717 (28.88%) |
| 12–20% | 1339 (54.01%) | 1309 (52.80%) | 1341 (54.09%) | 1268 (51.17%) | 1386 (55.91%) | 1286 (52.09%) | 1337 (53.93%) | 1373 (55.39%) | 1312 (52.84%) |
| >20% | 165 (6.66%) | 160 (6.45%) | 168 (6.78%) | 164 (6.62%) | 172 (6.94%) | 163 (6.60%) | 168 (6.78%) | 169 (6.82%) | 165 (6.65%) |
Bandhan gave negative returns 20 times while Tata gave 24 times negative.
Clearly Bandhan is better than the lowest expense ratio fund Nippon India and better than the lowest tracking error fund Aditya Birla.
| Metric | HDFC | Franklin India | Tata | Aditya Birla | BANDHAN | LIC | Nippon India | UTI | Taurus |
|---|---|---|---|---|---|---|---|---|---|
| Avg % | 13.29% | 13.06% | 13.38% | 12.96% | 13.60% | 13.03% | 13.34% | 13.52% | 13.33% |
| Median % | 13.51% | 13.19% | 13.45% | 13.03% | 13.77% | 13.12% | 13.46% | 13.67% | 13.57% |
| Min % | -1.43% | -1.55% | -1.01% | -1.81% | -1.13% | -1.80% | -1.54% | -1.32% | -1.21% |
| Max % | 26.21% | 26.01% | 25.97% | 26.09% | 26.44% | 26.21% | 26.40% | 26.56% | 25.73% |
Bandhan has the highest average & median returns. Still Tata has the best downside protection (minimum return). UTI has the highest maximum returns over Bandhan.
| Metric | HDFC | Franklin India | Tata | Aditya Birla | BANDHAN | LIC | Nippon India | UTI | Taurus |
|---|---|---|---|---|---|---|---|---|---|
| Avg % | 12.89% | 12.69% | 12.95% | 12.57% | 13.18% | 12.63% | 12.93% | 13.11% | 12.84% |
| Median % | 12.91% | 12.71% | 12.98% | 12.60% | 13.20% | 12.65% | 12.95% | 13.14% | 12.86% |
| Min % | 10.25% | 10.10% | 10.37% | 10.01% | 10.52% | 10.04% | 10.28% | 10.48% | 10.18% |
| Max % | 14.66% | 14.40% | 14.66% | 14.23% | 14.95% | 14.35% | 14.67% | 14.86% | 14.67% |
Bandhan Clearly outperform all the other funds in 10 year rolling returns.
We can conclude already that Bandhan is the best fund. But Let's dive deeper to actually know how much the fund is better than the others.
Finally, & the best way to compare Index Fund is the "Head-to-Head" win rate. For every single day since 2013, comparing which fund had higher returns on each rolling period.
| Period | HDFC | Franklin India | Aditya Birla | BANDHAN | LIC | Nippon India | UTI | Taurus | Tata |
|---|---|---|---|---|---|---|---|---|---|
| 3yr win rate | 0.81% | 0% | 0% | 58.55% | 0% | 0% | 24.51% | 15.72% | 0.41% |
| 5yr win rate | 0% | 0% | 0% | 73.92% | 0% | 0% | 17.57% | 7.95% | 0.56% |
| 7yr win rate | 0% | 0% | 0% | 98.65% | 0% | 0% | 0.20% | 1.08% | 0.07% |
| 10yr win rate | 0% | 0% | 0% | 100% | 0% | 0% | 0% | 0% | 0% |
Bandhan has the highest win rate above all the other funds with huge margin in all time periods.
Conclusion
Does this mean you should go start your SIP in Bandhan Nifty 50 Index Fund today? No
We'll look at data why you shouldn't blindly start SIP even with the best fund in the next story.
*Data Source: NSE India & AMFI. Analysis period: Jan 2013 - Jan 2026.
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