The scorecard
The Nifty 50 holds the fifty largest listed companies. The Nifty 500 holds those plus another 450 mid and small ones, with the large companies still carrying most of the weight. The question for an index investor is whether the extra 450 stocks change the result.
Over 14 calendar-year periods from the end of 2012 to 19 October 2026, Nifty 500 finished ahead of Nifty 50 9 times and behind 5 times. Nifty 500 compounded 11.8% a year over the period and Nifty 50 10.3%; Nifty 500 is up 4.65 times and Nifty 50 3.88 times. All figures are price-index returns, without dividends, using the last close of each year.
Year by year
| Year | Nifty 500 | Nifty 50 | Nifty 500 minus Nifty 50 (points) |
|---|---|---|---|
| 2013 | +3.6% | +6.8% | −3.1 |
| 2014 | +37.8% | +31.4% | +6.4 |
| 2015 | −0.7% | −4.1% | +3.3 |
| 2016 | +3.8% | +3.0% | +0.8 |
| 2017 | +35.9% | +28.6% | +7.3 |
| 2018 | −3.4% | +3.2% | −6.5 |
| 2019 | +7.7% | +12.0% | −4.4 |
| 2020 | +16.7% | +14.9% | +1.8 |
| 2021 | +30.2% | +24.1% | +6.1 |
| 2022 | +3.0% | +4.3% | −1.3 |
| 2023 | +25.8% | +20.0% | +5.7 |
| 2024 | +15.2% | +8.8% | +6.4 |
| 2025 | +6.7% | +10.5% | −3.8 |
| 2026 to 19 Oct | −7.7% | −12.4% | +4.7 |
The widest lead for Nifty 500 was +7.3 points in 2017 (+35.9% against +28.6%). The widest for Nifty 50 was +6.5 points in 2018 (+3.2% against −3.4%). In 11 periods both rose, in 2 both fell, and in 1 one rose while the other fell.
What ₹1 lakh would have become
| 31 December 2012 | 19 October 2026 | Multiple | Per year | |
|---|---|---|---|---|
| Nifty 500 | ₹1,00,000 | ₹4,64,674 | 4.65× | 11.8% |
| Nifty 50 | ₹1,00,000 | ₹3,87,613 | 3.88× | 10.3% |
The gap compounds quietly. Nifty 500 ended 19.9% ahead of Nifty 50 in total, but its edge came from particular years, not from winning every year. The longest unbroken run of leads was four years for Nifty 500, ending 2017.
How volatile each one was
Across the 13 full calendar years, the yearly return of Nifty 500 had a standard deviation of 14.1 points and Nifty 50 10.7 points. Nifty 500 was the bumpier of the two. The year-on-year swing, not the average, is what an investor in a single index actually lives through.
Where valuations stand
| As of 19 October 2026 | P/E | P/B | Dividend yield | Median P/E since 1999 |
|---|---|---|---|---|
| Nifty 500 | 21.5 | 3.09 | 1.30% | 21.1 |
| Nifty 50 | 19.3 | 2.81 | 1.50% | 20.9 |
Nifty 500's P/E sits at the 52nd percentile of its own record and Nifty 50's at the 35th. A low percentile means cheaper than usual for that index, not that it must rise. Each index's own history is the fair yardstick; comparing a P/E of one against the other mixes different businesses.
Reading the comparison
- Calendar years are a blunt cut. A year that ends on a peak or a trough can flip a winner, so a different start month would change several rows.
- These are price returns. Dividends are excluded for both, so total returns are higher than shown, by different amounts for each.
- Past leads are not a forecast. With indices this close, the useful question is cost and convenience, not which one to pick.
- None of this is a recommendation to buy or sell any index or fund.
More on these
- Nifty 500 and total market index funds compared
- Nifty 500 P/E in October 2026
- Nifty 50 index funds compared
Source: NSE Nifty 500 and Nifty 50 daily closes and valuation ratios, 31 December 2012 to 19 October 2026; calendar-year returns, latest period to 19 October 2026.
Frequently asked questions
Which has done better since 2013, Nifty 500 or Nifty 50?
Nifty 500. From 31 December 2012 to 19 October 2026 Nifty 500 rose 4.65 times (11.8% a year) and Nifty 50 rose 3.88 times (10.3% a year), as price-index returns, without dividends.
In how many years did Nifty 500 beat Nifty 50?
9 of 14 calendar-year periods, counting the partial year to 19 Oct. Nifty 50 was ahead in 5.
What was the biggest gap between Nifty 500 and Nifty 50 in one year?
7.3 points, in 2017 in favour of Nifty 500.
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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