Axis Nifty 100 Index Fund vs HDFC NIFTY 100 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis Nifty 100 Index Fund is an Index fund and HDFC NIFTY 100 ETF is an ETF fund. In the 3 years to 30-10-2026, Axis Nifty 100 Index Fund (Direct) returned 8.8% a year and HDFC NIFTY 100 ETF returned 8.7% a year. Axis Nifty 100 Index Fund charges 0.26% a year and HDFC NIFTY 100 ETF 0.31%. Their portfolios overlap 100.0%: they hold 100 of the same securities.
Axis Nifty 100 Index Fund
Index
- 3 year return
- 8.8%
- Expense ratio
- 0.26%
- NAV
- ₹21.51
Which is better, Axis Nifty 100 Index or HDFC NIFTY 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Nifty 100 Index returned more over 3 years: 8.8% a year against 8.7%.
- Axis Nifty 100 Index returned more over 1 year: −8.9% against −9.0%.
- Axis Nifty 100 Index costs less: 0.26% a year against 0.31%.
- Axis Nifty 100 Index swung less over 3 years: a standard deviation of 13.6% a year against 13.7%.
- Axis Nifty 100 Index fell less in its worst fall since 05-08-2022: −17.3% against −17.3%.
- Axis Nifty 100 Index is the larger fund: ₹1,989 Cr against ₹41 Cr.
- Their portfolios overlap 100.0%: 100 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis Nifty 100 Index Fund | HDFC NIFTY 100 ETF |
|---|---|---|
| Fund house | Axis Mutual Fund | HDFC Mutual Fund |
| Category | Index | ETF |
| AUM | ₹1,989 Cr (30-09-2026) | ₹41 Cr (30-09-2026) |
| NAV | ₹21.51 (Direct) | ₹24.81 |
| Expense ratio (Direct) | 0.26% | Not available |
| Expense ratio (Regular) | 0.97% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | Nifty 100 TRI |
| Launch date | 18-10-2019 | 05-08-2022 |
| Minimum investment | ₹100 | On an On-going Basis: A. On the Stock Exchange: All categories of investors may purchase the Units of the Scheme through the Stock Exchange(s) on which the units of the Scheme are listed, on any trading day in round lot of one (1) Unit and multiples there |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Abhishek Mor, Arun Agarwal |
| Exit load | Nil | Not available |
Axis Nifty 100 Index vs HDFC NIFTY 100 ETF: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis Nifty 100 Index Fund (Direct) | +1.02% | −5.36% | −3.09% | −8.92% | +8.79% | +6.97% | -- |
| HDFC NIFTY 100 ETF | +1.02% | −5.38% | −3.12% | −8.99% | +8.73% | -- | -- |
Axis Nifty 100 Index vs HDFC NIFTY 100 ETF: Year-wise Returns
| Year | Axis Nifty 100 IndexAxis Nifty 100 Index | HDFC NIFTY 100 ETFHDFC NIFTY 100 ETF | Nifty 100 TRI |
|---|---|---|---|
| 2026to date | −9.51% | −9.57% | −9.32% |
| 2025 | +10.02% | +9.91% | +10.24% |
| 2024 | +12.57% | +12.55% | +12.95% |
| 2023 | +20.95% | +20.87% | +21.24% |
| 2022 | +4.79% | -- | +4.94% |
| 2021 | +25.90% | -- | +26.45% |
Axis Nifty 100 Index vs HDFC NIFTY 100 ETF: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 308 of them, one for each trading day from 05-08-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis Nifty 100 Index Fund (Direct)
HDFC NIFTY 100 ETF
Nifty 100 TRI
to
Sept 2025Nov 2022
to
Nov 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jul 2023
to
Jul 2026Sept 2023
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Nifty 100 Index | 0.0 | 0.0 | 17.9 | 72.4 | 9.7 | 0.0 | 0.0 | 12.3% | 13.0% | 6.8% | 16.0% | 0% |
| HDFC NIFTY 100 ETF | 0.0 | 0.0 | 18.4 | 73.7 | 7.9 | 0.0 | 0.0 | 12.2% | 12.9% | 6.7% | 16.0% | 0% |
| Nifty 100 TRI | 0.0 | 0.0 | 13.6 | 73.4 | 13.0 | 0.0 | 0.0 | 12.6% | 13.3% | 7.1% | 16.3% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 100 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 05-08-2022. Past returns do not promise future returns.
Axis Nifty 100 Index vs HDFC NIFTY 100 ETF: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-08-2022 to 30-10-2026: 51 instalments, ₹5,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Nifty 100 IndexAxis Nifty 100 Index Fund (Direct) | ₹5,10,000 | ₹5,62,239 | ₹52,239 | 4.5% |
| HDFC NIFTY 100 ETFHDFC NIFTY 100 ETF | ₹5,10,000 | ₹5,61,269 | ₹51,269 | 4.5% |
Axis Nifty 100 IndexAxis Nifty 100 Index Fund (Direct)
HDFC NIFTY 100 ETFHDFC NIFTY 100 ETF
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis Nifty 100 Index vs HDFC NIFTY 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty 100 Index Fund (Direct) | HDFC NIFTY 100 ETF |
|---|---|---|
| Return (CAGR) | −8.92% | −8.99% |
| Standard deviation | 13.88% | 14.04% |
| Sharpe ratio | -1.02 | -1.01 |
| Sortino ratio | -1.36 | -1.35 |
| Maximum drawdown | −14.9% (31-03-2026) | −15.0% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.24% | −0.30% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Nifty 100 Index Fund (Direct) | HDFC NIFTY 100 ETF |
|---|---|---|
| Return (CAGR) | +8.79% | +8.73% |
| Standard deviation | 13.63% | 13.69% |
| Sharpe ratio | 0.20 | 0.20 |
| Sortino ratio | 0.28 | 0.27 |
| Maximum drawdown | −17.3% (28-02-2025) | −17.3% (28-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.29% | −0.35% |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Nifty 100 Index Fund (Direct) | HDFC NIFTY 100 ETF |
|---|---|---|
| Return (CAGR) | +11.58% | +8.29% |
| Standard deviation | 17.02% | 12.92% |
| Sharpe ratio | 0.38 | 0.17 |
| Sortino ratio | 0.51 | 0.23 |
| Maximum drawdown | −37.0% (23-03-2020) | −17.3% (28-02-2025) |
| Beta | 0.99 | 1.00 |
| Alpha | −0.21% | −0.33% |
From daily NAVs, 23-10-2019 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis Nifty 100 Index Fund (Direct)
HDFC NIFTY 100 ETF
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty 100 Index Fund (Direct) | −17.3% | 26-09-2024 | 28-02-2025 | Not yet | -- | −10.4% |
| HDFC NIFTY 100 ETF | −17.3% | 26-09-2024 | 28-02-2025 | Not yet | -- | −10.6% |
| Nifty 100 TRI | −17.2% | 26-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −10.1% |
From daily values since 05-08-2022, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Nifty 100 Index Fund (Direct)
HDFC NIFTY 100 ETF
Nifty 100 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Nifty 100 Index Fund (Direct)
HDFC NIFTY 100 ETF
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Nifty 100 Index Fund (Direct) | 99% | 100% | 0.05% |
| HDFC NIFTY 100 ETF | 99% | 101% | 0.04% |
From month-end values since 05-08-2022. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis Nifty 100 Index vs HDFC NIFTY 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty 100 Index Fund, September 2026; HDFC NIFTY 100 ETF, September 2026
Holdings in common
- Overlap
- 100.0%
- Held by both
- 100
- Only in Axis Nifty 100 Index
- 0
- Only in HDFC NIFTY 100 ETF
- 0
| Security | % of Axis Nifty 100 Index | % of HDFC NIFTY 100 ETF |
|---|---|---|
| HDFC Bank Limited | 8.42% | 8.41% |
| ICICI Bank Limited | 7.34% | 7.34% |
| Reliance Industries Limited | 6.15% | 6.15% |
| Bharti Airtel Limited | 4.14% | 4.14% |
| Larsen & Toubro Limited | 3.41% | 3.41% |
| State Bank of India | 3.07% | 3.07% |
| Axis Bank Limited | 2.73% | 2.73% |
| Infosys Limited | 2.72% | 2.72% |
| Kotak Mahindra Bank Limited | 2.38% | 2.38% |
| Mahindra & Mahindra Limited | 2.04% | 2.04% |
| Bajaj Finance Limited | 2.03% | 2.03% |
| ITC Limited | 1.96% | 1.96% |
| Eternal Limited | 1.80% | 1.80% |
| Tata Consultancy Services Limited | 1.62% | 1.62% |
| Sun Pharmaceutical Industries Limited | 1.49% | 1.49% |
| Titan Company Limited | 1.47% | 1.47% |
| Hindustan Unilever Limited | 1.29% | 1.29% |
| Maruti Suzuki India Limited | 1.21% | 1.21% |
| NTPC Limited | 1.19% | 1.19% |
| Tata Steel Limited | 1.18% | 1.18% |
| Adani Ports and Special Economic Zone Limited | 1.09% | 1.09% |
| Bharat Electronics Limited | 1.08% | 1.08% |
| Shriram Finance Limited | 1.07% | 1.07% |
| Hindalco Industries Limited | 1.06% | 1.06% |
| UltraTech Cement Limited | 1.00% | 1.01% |
| HCL Technologies Limited | 1.00% | 1.00% |
| BSE Limited | 0.98% | 0.98% |
| JSW Steel Limited | 0.93% | 0.93% |
| Bajaj Auto Limited | 0.92% | 0.92% |
| Divi's Laboratories Limited | 0.91% | 0.92% |
| Power Grid Corporation of India Limited | 0.91% | 0.91% |
| Grasim Industries Limited | 0.90% | 0.89% |
| InterGlobe Aviation Limited | 0.87% | 0.87% |
| Asian Paints Limited | 0.84% | 0.84% |
| Coal India Limited | 0.79% | 0.79% |
| Bajaj Finserv Limited | 0.78% | 0.78% |
| Eicher Motors Limited | 0.76% | 0.76% |
| Adani Enterprises Limited | 0.76% | 0.76% |
| TVS Motor Company Limited | 0.75% | 0.75% |
| Tech Mahindra Limited | 0.75% | 0.75% |
| Nestle India Limited | 0.73% | 0.73% |
| Hindustan Aeronautics Limited | 0.69% | 0.69% |
| Tata Motors Ltd | 0.68% | 0.68% |
| Oil & Natural Gas Corporation Limited | 0.68% | 0.68% |
| Trent Limited | 0.68% | 0.68% |
| Adani Power Limited | 0.66% | 0.66% |
| Apollo Hospitals Enterprise Limited | 0.65% | 0.65% |
| SBI Life Insurance Company Limited | 0.59% | 0.59% |
| Cipla Limited | 0.59% | 0.59% |
| Dr. Reddy's Laboratories Limited | 0.58% | 0.58% |
| Samvardhana Motherson International Limited | 0.56% | 0.56% |
| Torrent Pharmaceuticals Limited | 0.55% | 0.55% |
| Jio Financial Services Limited | 0.55% | 0.55% |
| Max Healthcare Institute Limited | 0.54% | 0.54% |
| Vedanta Aluminium Metal Limited | 0.54% | 0.54% |
| Cholamandalam Investment and Finance Company Ltd | 0.54% | 0.54% |
| Cummins India Limited | 0.50% | 0.50% |
| Tata Consumer Products Limited | 0.48% | 0.48% |
| Avenue Supermarts Limited | 0.48% | 0.48% |
| Bharat Petroleum Corporation Limited | 0.47% | 0.47% |
| Tata Power Company Limited | 0.47% | 0.47% |
| Varun Beverages Limited | 0.46% | 0.46% |
| Tata Motors Passenger Vehicles Limited | 0.46% | 0.46% |
| CG Power and Industrial Solutions Limited | 0.45% | 0.45% |
| Britannia Industries Limited | 0.44% | 0.44% |
| HDFC Life Insurance Company Limited | 0.43% | 0.43% |
| Indian Oil Corporation Limited | 0.39% | 0.39% |
| Solar Industries India Limited | 0.37% | 0.37% |
| Power Finance Corporation Limited | 0.37% | 0.37% |
| GAIL (India) Limited | 0.36% | 0.36% |
| HDFC Asset Management Company Limited | 0.36% | 0.36% |
| Bajaj Holdings & Investment Limited | 0.36% | 0.36% |
| Pidilite Industries Limited | 0.35% | 0.35% |
| Vedanta Limited | 0.35% | 0.35% |
| Jindal Steel Limited | 0.33% | 0.33% |
| Adani Energy Solutions Limited | 0.33% | 0.33% |
| Bank of Baroda | 0.33% | 0.33% |
| Polycab India Limited | 0.33% | 0.33% |
| Adani Green Energy Limited | 0.33% | 0.33% |
| DLF Limited | 0.33% | 0.33% |
| Wipro Limited | 0.33% | 0.33% |
| Bosch Limited | 0.32% | 0.32% |
| Canara Bank | 0.31% | 0.31% |
| Hitachi Energy India Limited | 0.30% | 0.30% |
| Punjab National Bank | 0.30% | 0.30% |
| LTM Limited | 0.29% | 0.29% |
| ABB India Limited | 0.28% | 0.28% |
| Vodafone Idea Limited | 0.28% | 0.28% |
| Union Bank of India | 0.26% | 0.26% |
| Godrej Consumer Products Limited | 0.26% | 0.26% |
| Siemens Limited | 0.26% | 0.25% |
| Muthoot Finance Limited | 0.23% | 0.23% |
| Siemens Energy India Limited | 0.22% | 0.22% |
| Hyundai Motor India Ltd | 0.22% | 0.22% |
| Zydus Lifesciences Limited | 0.22% | 0.22% |
| Hindustan Zinc Limited | 0.21% | 0.21% |
| Ambuja Cements Limited | 0.18% | 0.18% |
| Indian Railway Finance Corporation Limited | 0.14% | 0.14% |
| Tata Capital Limited | 0.14% | 0.14% |
| Mazagon Dock Shipbuilders Limited | 0.12% | 0.12% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 100.0% means 100.0% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis Nifty 100 Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in HDFC NIFTY 100 ETF
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty 100 Index | HDFC NIFTY 100 ETF |
|---|---|---|
| Equity | 100.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 0.0% |
Market cap of stocks
| Market cap | Axis Nifty 100 Index | HDFC NIFTY 100 ETF |
|---|---|---|
| Large Cap | 98.0% | 98.0% |
| Mid Cap | 2.0% | 2.0% |
| Small Cap | 0.0% | 0.0% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Axis Nifty 100 Index | HDFC NIFTY 100 ETF |
|---|---|---|
| Banks | 25.1% | 25.1% |
| Petroleum Products | 7.0% | 7.0% |
| IT - Software | 6.7% | 6.7% |
| Automobiles | 6.4% | 6.4% |
| Finance | 6.2% | 6.2% |
| Telecom - Services | 4.4% | 4.4% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty 100 Index vs HDFC NIFTY 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty 100 Index Fund | HDFC NIFTY 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.26% | Not available |
| Base expense ratio (Direct) | 0.18% | 0.00% |
| Total expense ratio (Regular) | 0.97% | Not available |
| Base expense ratio (Regular) | 0.79% | 0.25% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
Axis Nifty 100 Index Fund vs HDFC NIFTY 100 ETF: Frequently Asked Questions
What is the difference between Axis Nifty 100 Index Fund and HDFC NIFTY 100 ETF?
Axis Nifty 100 Index Fund is an Index fund, HDFC NIFTY 100 ETF is an ETF fund, run by Axis Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 100.0%. Axis Nifty 100 Index Fund charges 0.26% a year and HDFC NIFTY 100 ETF 0.31%.
Which has given higher returns, Axis Nifty 100 Index Fund or HDFC NIFTY 100 ETF?
Over 1 year: Axis Nifty 100 Index Fund −8.92%, HDFC NIFTY 100 ETF −8.99%. Over 3 years: Axis Nifty 100 Index Fund +8.79% a year, HDFC NIFTY 100 ETF +8.73% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Nifty 100 Index Fund or HDFC NIFTY 100 ETF?
Axis Nifty 100 Index Fund charges less: 0.26% a year against 0.31%. These are the total expense ratios reported to AMFI.
How much do Axis Nifty 100 Index Fund and HDFC NIFTY 100 ETF overlap?
100.0%. They hold 100 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Axis Nifty 100 Index Fund or HDFC NIFTY 100 ETF?
On SEBI's riskometer, Axis Nifty 100 Index Fund is rated Very High and HDFC NIFTY 100 ETF Very High. Over 3 years, the standard deviation of daily returns was 13.63% and 13.69% a year.
Which is better for SIP, Axis Nifty 100 Index Fund or HDFC NIFTY 100 ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,71,841 in Axis Nifty 100 Index Fund (XIRR 0.3% a year) and ₹3,71,409 in HDFC NIFTY 100 ETF (XIRR 0.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Nifty 100 Index Fund and HDFC NIFTY 100 ETF?
Yes. 100.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Nifty 100 Index Fund and HDFC NIFTY 100 ETF?
Axis Nifty 100 Index Fund: Nandik Malik, Rohit Gautam. HDFC NIFTY 100 ETF: Abhishek Mor, Arun Agarwal.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.