Axis NIFTY India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis NIFTY India Consumption ETF is an ETF fund and Groww Nifty Non-Cyclical Consumer Index Fund is an Index fund. In the year to 30-10-2026, Axis NIFTY India Consumption ETF returned −10.9% and Groww Nifty Non-Cyclical Consumer Index Fund (Direct) returned −13.1%. Axis NIFTY India Consumption ETF charges 0.47% a year and Groww Nifty Non-Cyclical Consumer Index Fund 0.65%. Their portfolios overlap 63.6%: they hold 18 of the same securities.
Axis NIFTY India Consumption ETF
ETF
- 1 year return
- −10.9%
- Expense ratio
- 0.47%
- NAV
- ₹114.29
Groww Nifty Non-Cyclical Consumer Index Fund
Index
- 1 year return
- −13.1%
- Expense ratio
- 0.65%
- NAV
- ₹9.81
Which is better, Axis NIFTY India Consumption ETF or Groww Nifty Non-Cyclical Consumer Index? 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 India Consumption ETF returned more over 1 year: −10.9% against −13.1%.
- Axis NIFTY India Consumption ETF costs less: 0.47% a year against 0.65%.
- Axis NIFTY India Consumption ETF fell less in its worst fall since 24-05-2024: −21.9% against −26.7%.
- Axis NIFTY India Consumption ETF holds more in large companies: 88.0% of the fund in large caps against 76.4%.
- Groww Nifty Non-Cyclical Consumer Index is the larger fund: ₹38 Cr against ₹13 Cr.
- Their portfolios overlap 63.6%: 18 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 India Consumption ETF | Groww Nifty Non-Cyclical Consumer Index Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Groww Mutual Fund |
| Category | ETF | Index |
| AUM | ₹13 Cr (30-09-2026) | ₹38 Cr (30-09-2026) |
| NAV | ₹114.29 | ₹9.81 (Direct) |
| Expense ratio (Direct) | Not available | 0.65% |
| Expense ratio (Regular) | Not available | 1.11% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Consumption TRI | Nifty Non-Cyclical Consumer TRI |
| Launch date | 17-09-2021 | 22-05-2024 |
| Minimum investment | 50000 (Units) | ₹500 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Nikhil Satam, Aakash Chauhan, Shashi Kumar |
| Exit load | N/A | • In respect of each purchase/switch-in of units, an Exit load of 1% is payable if units are redeemed/switched-out within 30 days from the date of allotment • No Exit Load is payable if units are redeemed / switched-out after 30 days from the date of allotment. No Entry / Exit Load shall be levied on Units allotted on Re-investment of Income Distribution cum Capital Withdrawal. In respect of Systematic Transactions such as SIP, STP, etc. Exit Load, if any, prevailing on the date of registration / enrolment shall be levied. |
Axis NIFTY India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index: 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 India Consumption ETF | +0.13% | −8.18% | −2.45% | −10.92% | +10.54% | +10.14% | -- |
| Groww Nifty Non-Cyclical Consumer Index Fund (Direct) | −0.01% | −8.27% | −3.09% | −13.07% | -- | -- | -- |
Axis NIFTY India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index: Year-wise Returns
| Year | Axis NIFTY India Consumption ETFAxis NIFTY India Consumption ETF | Groww Nifty Non-Cyclical Consumer IndexGroww Nifty Non-Cyclical Consumer Index |
|---|---|---|
| 2026to date | −9.39% | −10.14% |
| 2025 | +8.80% | +0.08% |
| 2024 | +19.16% | -- |
| 2023 | +27.47% | -- |
| 2022 | +8.11% | -- |
Axis NIFTY India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index: Rolling Returns
Every holding period of both funds, against Nifty India Consumption TRI, the benchmark of Axis NIFTY India Consumption ETF
Rolling returns
Every 1-year holding period, 361 of them, one for each trading day from 26-05-2025 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 India Consumption ETF
Groww Nifty Non-Cyclical Consumer Index Fund (Direct)
Nifty India Consumption TRI
to
Jul 2025Oct 2024
to
Oct 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 2026Sept 2025
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 India Consumption ETF | 33.2 | 31.9 | 26.9 | 8.0 | 0.0 | 0.0 | 0.0 | 2.3% | 2.5% | −14.6% | 14.1% | 0% |
| Groww Nifty Non-Cyclical Consumer Index | 68.9 | 22.9 | 7.9 | 0.3 | 0.0 | 0.0 | 0.0 | −2.9% | −2.9% | −16.3% | 10.1% | 0% |
| Nifty India Consumption TRI | 29.1 | 35.5 | 25.2 | 10.2 | 0.0 | 0.0 | 0.0 | 2.7% | 2.9% | −14.2% | 14.5% | -- |
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 India Consumption 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 24-05-2024. Past returns do not promise future returns.
Axis NIFTY India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index: 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 02-05-2024 to 30-10-2026: 30 instalments, ₹3,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis NIFTY India Consumption ETFAxis NIFTY India Consumption ETF | ₹3,00,000 | ₹2,91,495 | −₹8,505 | −2.2% |
| Groww Nifty Non-Cyclical Consumer IndexGroww Nifty Non-Cyclical Consumer Index Fund (Direct) | ₹3,00,000 | ₹2,78,570 | −₹21,430 | −5.7% |
Axis NIFTY India Consumption ETFAxis NIFTY India Consumption ETF
Groww Nifty Non-Cyclical Consumer IndexGroww Nifty Non-Cyclical Consumer Index Fund (Direct)
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 India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis NIFTY India Consumption ETF | Groww Nifty Non-Cyclical Consumer Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.92% | −13.07% |
| Standard deviation | 15.09% | 14.95% |
| Sharpe ratio | -1.07 | -1.23 |
| Sortino ratio | -1.40 | -1.61 |
| Maximum drawdown | −17.3% (31-03-2026) | −19.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.36% | −0.46% |
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 India Consumption ETF | Groww Nifty Non-Cyclical Consumer Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.08% | −0.78% |
| Standard deviation | 13.95% | 14.23% |
| Sharpe ratio | 0.24 | -0.46 |
| Sortino ratio | 0.33 | -0.65 |
| Maximum drawdown | −21.9% (04-03-2025) | −26.7% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.42% | −0.52% |
From daily NAVs, 23-09-2021 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 India Consumption ETF
Groww Nifty Non-Cyclical Consumer Index Fund (Direct)
Nifty India Consumption TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis NIFTY India Consumption ETF | −21.9% | 26-09-2024 | 04-03-2025 | Not yet | -- | −14.1% |
| Groww Nifty Non-Cyclical Consumer Index Fund (Direct) | −26.7% | 23-09-2024 | 31-03-2026 | Not yet | -- | −20.9% |
| Nifty India Consumption TRI | −21.9% | 26-09-2024 | 04-03-2025 | Not yet | -- | −13.4% |
From daily values since 24-05-2024, 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 India Consumption ETF
Groww Nifty Non-Cyclical Consumer Index Fund (Direct)
Nifty India Consumption TRI
Against Nifty India Consumption TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis NIFTY India Consumption ETF | 99% | 101% | 0.05% |
| Groww Nifty Non-Cyclical Consumer Index Fund (Direct) | 90% | 102% | 3.45% |
From month-end values since 24-05-2024. 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 India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index: Portfolio Overlap
From each fund's latest monthly portfolio: Axis NIFTY India Consumption ETF, September 2026; Groww Nifty Non-Cyclical Consumer Index Fund, September 2026
Holdings in common
- Overlap
- 63.6%
- Held by both
- 18
- Only in Axis NIFTY India Consumption ETF
- 12
- Only in Groww Nifty Non-Cyclical Consumer Index
- 12
| Security | % of Axis NIFTY India Consumption ETF | % of Groww Nifty Non-Cyclical Consumer Index |
|---|---|---|
| Bharti Airtel Limited | 10.13% | 10.14% |
| ITC Limited | 7.87% | 10.07% |
| Eternal Limited | 7.20% | 9.85% |
| Titan Company Limited | 5.89% | 8.23% |
| Hindustan Unilever Limited | 5.18% | 7.23% |
| InterGlobe Aviation Limited | 3.50% | 4.89% |
| Asian Paints Limited | 3.37% | 4.71% |
| Nestle India Limited | 2.92% | 4.08% |
| Trent Limited | 2.71% | 3.78% |
| The Indian Hotels Company Limited | 1.99% | 2.78% |
| Tata Consumer Products Limited | 1.92% | 2.68% |
| Avenue Supermarts Limited | 1.91% | 2.66% |
| Varun Beverages Limited | 1.83% | 2.56% |
| Britannia Industries Limited | 1.77% | 2.47% |
| Dixon Technologies (India) Limited | 1.69% | 2.37% |
| Info Edge (India) Limited | 1.47% | 2.05% |
| United Spirits Limited | 1.24% | 1.74% |
| Godrej Consumer Products Limited | 1.06% | 1.48% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 63.6% means 63.6% 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 India Consumption ETF
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Limited | 8.19% |
| Maruti Suzuki India Limited | 4.83% |
| Bajaj Auto Limited | 3.68% |
| Eicher Motors Limited | 3.06% |
| TVS Motor Company Limited | 3.00% |
Largest holdings only in Groww Nifty Non-Cyclical Consumer Index Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Limited | 2.18% |
| FSN E-Commerce Ventures Limited | 1.90% |
| Marico Limited | 1.81% |
| SWIGGY LIMITED | 1.63% |
| Vodafone Idea Limited | 1.55% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis NIFTY India Consumption ETF | Groww Nifty Non-Cyclical Consumer Index |
|---|---|---|
| Equity | 99.9% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | -0.1% |
Market cap of stocks
| Market cap | Axis NIFTY India Consumption ETF | Groww Nifty Non-Cyclical Consumer Index |
|---|---|---|
| Large Cap | 88.0% | 76.4% |
| Mid Cap | 11.9% | 23.7% |
| 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 India Consumption ETF | Groww Nifty Non-Cyclical Consumer Index |
|---|---|---|
| Retailing | 13.3% | 25.3% |
| Automobiles | 24.9% | 0.0% |
| Consumer Durables | 10.9% | 17.5% |
| Diversified FMCG | 13.1% | 17.3% |
| Telecom - Services | 10.1% | 12.5% |
| Food Products | 4.7% | 6.5% |
| Healthcare Services | 6.0% | 0.0% |
| Transport Services | 3.5% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
Axis NIFTY India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis NIFTY India Consumption ETF | Groww Nifty Non-Cyclical Consumer Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.65% |
| Base expense ratio (Direct) | 0.00% | 0.50% |
| Total expense ratio (Regular) | Not available | 1.11% |
| Base expense ratio (Regular) | 0.36% | 0.90% |
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 India Consumption ETF vs Groww Nifty Non-Cyclical Consumer Index Fund: Frequently Asked Questions
What is the difference between Axis NIFTY India Consumption ETF and Groww Nifty Non-Cyclical Consumer Index Fund?
Axis NIFTY India Consumption ETF is an ETF fund, Groww Nifty Non-Cyclical Consumer Index Fund is an Index fund, run by Axis Mutual Fund and Groww Mutual Fund. Their portfolios overlap 63.6%. Axis NIFTY India Consumption ETF charges 0.47% a year and Groww Nifty Non-Cyclical Consumer Index Fund 0.65%.
Which has given higher returns, Axis NIFTY India Consumption ETF or Groww Nifty Non-Cyclical Consumer Index Fund?
Over 1 year: Axis NIFTY India Consumption ETF −10.92%, Groww Nifty Non-Cyclical Consumer Index Fund −13.07%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis NIFTY India Consumption ETF or Groww Nifty Non-Cyclical Consumer Index Fund?
Axis NIFTY India Consumption ETF charges less: 0.47% a year against 0.65%. These are the total expense ratios reported to AMFI.
How much do Axis NIFTY India Consumption ETF and Groww Nifty Non-Cyclical Consumer Index Fund overlap?
63.6%. They hold 18 of the same securities, the largest shared ones being BHARTIARTL, ITC, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, Axis NIFTY India Consumption ETF or Groww Nifty Non-Cyclical Consumer Index Fund?
On SEBI's riskometer, Axis NIFTY India Consumption ETF is rated Very High and Groww Nifty Non-Cyclical Consumer Index Fund Very High. Over 1 years, the standard deviation of daily returns was 15.09% and 14.95% a year.
Can I invest in both Axis NIFTY India Consumption ETF and Groww Nifty Non-Cyclical Consumer Index Fund?
Yes. 63.6% 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 India Consumption ETF and Groww Nifty Non-Cyclical Consumer Index Fund?
Axis NIFTY India Consumption ETF: Nandik Malik, Rohit Gautam. Groww Nifty Non-Cyclical Consumer Index Fund: Nikhil Satam, Aakash Chauhan, Shashi Kumar.
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.