Same index, 18 funds
A Nifty 50 index fund holds the same 50 companies in index weights, so differences in return come from costs, cash and timing. We looked at every plain Nifty 50 index fund with a Direct Growth plan: 26 of them, of which 18 have three years of history. Returns are to 16 October 2026; three- and five-year figures are compound annual rates, and the one-year figure is a plain change. Funds sold as ELSS and Nifty 500 or other index funds are left out.
The 18 with a three-year record
| Fund | Direct TER | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Navi | 0.10% | −8.61% | 6.53% | 5.81% |
| Motilal Oswal | 0.19% | −8.64% | 6.53% | 5.82% |
| Edelweiss | 0.14% | −8.51% | 6.52% | 5.74% |
| Nippon India | 0.15% | −8.63% | 6.52% | 5.78% |
| Axis | 0.17% | −8.65% | 6.51% | — |
| DSP | 0.22% | −8.65% | 6.50% | 5.77% |
| Bandhan | 0.16% | −8.67% | 6.50% | 5.84% |
| UTI | 0.25% | −8.70% | 6.48% | 5.77% |
| Aditya Birla Sun Life | 0.23% | −8.69% | 6.47% | 5.72% |
| Franklin India | 0.31% | −8.69% | 6.47% | 5.73% |
| HSBC | 0.22% | −8.65% | 6.46% | — |
| SBI | 0.24% | −8.76% | 6.43% | 5.74% |
| Kotak | 0.13% | −8.61% | 6.43% | 5.73% |
| ICICI Prudential | 0.24% | −8.73% | 6.43% | 5.74% |
| HDFC | 0.29% | −8.78% | 6.42% | 5.72% |
| Tata | 0.27% | −8.78% | 6.38% | 5.73% |
| LIC MF | 0.56% | −9.05% | 6.29% | 5.63% |
| Taurus | 0.86% | −9.30% | 5.73% | 5.12% |
Sixteen funds sit within 0.15 points of each other over three years, from 6.38% to 6.53%. LIC MF and Taurus are the two behind: LIC MF 0.24 points a year under the leader, Taurus 0.80. Our June look at tracking difference found the same two at the bottom of the same group.
Cost explains the ends, not the middle
The two most expensive funds, Taurus (0.86%) and LIC MF (0.56%), are also the two with the lowest returns over one, three and five years. The gap from the cheapest to the dearest, 0.76 points a year in fees, matches the 0.80-point gap in the three-year return, which is what you would expect if the extra fee comes straight off the return.
Inside the middle it is looser. Kotak charges 0.13%, the second-lowest fee, yet is in the lower half over three years at 6.43%, level with SBI and ICICI Prudential and 0.10 points behind Navi on a fee 0.03 points higher. Motilal Oswal charges 0.19%, 0.09 more than Navi, and returns the same 6.53%. Fund size, cash held, how soon a fund invests inflows and rounding all play a part, none of which the table shows.
On a ₹10 lakh holding, the difference between a 0.10% and a 0.86% fee is about ₹7,600 a year, ₹1,000 against ₹8,600, and it compounds. Our direct vs regular calculator shows the arithmetic for a larger gap.
The newer funds
Eight more Nifty 50 index funds do not yet have three years of history:
| Fund | Direct TER | 1 year |
|---|---|---|
| JioBlackRock | 0.22% | −8.62% |
| Mirae Asset | 0.24% | −8.73% |
| Baroda BNP Paribas | 0.48% | −8.74% |
| Angel One | 0.25% | −8.77% |
| Groww | 0.46% | −8.94% |
| Bajaj Finserv | 0.33% | −9.02% |
| Zerodha | 0.28% | −9.26% |
| Choice | 0.68% | — |
The newer funds' fees run from 0.22% to 0.68%, with a median of 0.31% against 0.23% for the 18 older funds. None of the seven with a one-year record beat the best older fund (Edelweiss, −8.51%) over that year.
The index itself
The Nifty 50 closed at 25,585.30 on 16 October 2025 and 23,146.15 on 16 October 2026, a fall of 9.53% before dividends. The funds fell 8.51% to 9.30%, less than the price index in all 25 funds with a year of data, which is the effect of reinvested dividends. Dividends are part of any fund's NAV, and the price index leaves them out. The Nifty 50's implied P/E on 16 October was 19.77; see our Nifty 50 P/E post for history.
What the numbers do not tell you
Three years of data is a small sample. The funds track the same index, and the sub-0.2-point gaps within the pack are within what rounding and timing would produce.
Expense ratios change. The TERs here are the latest AMFI disclosure, and a fund can cut its fee. LIC MF and Taurus are the two for which a cut matters most.
This is a Direct plan table. A Regular plan adds a commission to every fund's cost.
None of this is a recommendation to buy or sell any fund.
Frequently asked questions
How much do Nifty 50 index funds differ in return?
Eighteen Direct Growth funds have a three-year record to 16 October 2026. Seventeen returned between 6.29% and 6.53% a year; Taurus returned 5.73%. Over one year they ranged from −8.51% to −9.30%, against a price-index fall of 9.53%, and the price index excludes dividends.
Which Nifty 50 index funds charge the least?
On Direct plan expense ratios, Navi (0.10%), Kotak (0.13%), Edelweiss (0.14%), Nippon India (0.15%) and Bandhan (0.16%) are the five cheapest among funds with a 3-year record. Taurus (0.86%), LIC MF (0.56%) and Franklin (0.31%) charge the most among them.
Does the lowest fee give the highest return?
Not always. Navi, the cheapest at 0.10%, has the best 3-year return (6.53%), but Kotak, the second cheapest, is in the lower half at 6.43%, and Motilal Oswal (0.19%) is second at 6.53%. Fees explain the extremes, such as Taurus, but not the order within the middle.
This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are WealthTicker’s own calculations from public data — AMFI’s fund NAVs and disclosures, NSE’s index and FII/DII files, and the fund houses’ monthly portfolios (how we calculate). They are as of the dates stated and can be revised by their source.
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