Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Mirae Asset Nifty India New Age Consumption ETF is an ETF fund and Nippon India Innovation Fund is a Thematic fund. In the year to 30-10-2026, Mirae Asset Nifty India New Age Consumption ETF returned −9.7% and Nippon India Innovation Fund (Direct) returned −5.1%. Mirae Asset Nifty India New Age Consumption ETF charges 0.46% a year and Nippon India Innovation Fund 0.90%. Their portfolios overlap 28.1%: they hold 17 of the same securities.
Mirae Asset Nifty India New Age Consumption ETF
ETF
- 1 year return
- −9.7%
- Expense ratio
- 0.46%
- NAV
- ₹11.12
Nippon India Innovation Fund
Thematic
- 1 year return
- −5.1%
- Expense ratio
- 0.90%
- NAV
- ₹14.35
Which is better, Mirae Asset Nifty India New Age Consumption ETF or Nippon India Innovation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Innovation returned more over 1 year: −5.1% against −9.7%.
- Mirae Asset Nifty India New Age Consumption ETF costs less: 0.46% a year against 0.90%.
- Nippon India Innovation fell less in its worst fall since 27-12-2024: −17.7% against −21.9%.
- Mirae Asset Nifty India New Age Consumption ETF holds more in large companies: 53.9% of the fund in large caps against 38.2%.
- Nippon India Innovation is the larger fund: ₹2,923 Cr against ₹54 Cr.
- Their portfolios overlap 28.1%: 17 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 | Mirae Asset Nifty India New Age Consumption ETF | Nippon India Innovation Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Nippon India Mutual Fund |
| Category | ETF | Thematic |
| AUM | ₹54 Cr (30-09-2026) | ₹2,923 Cr (30-09-2026) |
| NAV | ₹11.12 | ₹14.35 (Direct) |
| Expense ratio (Direct) | Not available | 0.90% |
| Expense ratio (Regular) | Not available | 2.11% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India New Age Consumption TRI | Nifty 500 TRI |
| Launch date | 26-12-2024 | 28-08-2023 |
| Minimum investment | On exchange in multiple of 1 unit. With AMC: In multiples of 6,00,000 units | ₹100 |
| Lock in | None | None |
| Fund managers | Ekta Gala, amp, Vishal Singh | Vinay Sharma, Rishit Parikh |
| Exit load | NIL | Exit load of 1%, if redeemed within 1 year. |
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation: 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Nifty India New Age Consumption ETF | −1.58% | −7.58% | +1.62% | −9.69% | -- | -- | -- |
| Nippon India Innovation Fund (Direct) | −3.60% | −5.91% | +0.65% | −5.09% | +12.84% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation: Year-wise Returns
| Year | Mirae Asset Nifty India New Age Consumption ETFMirae Asset Nifty India New Age Consumption ETF | Nippon India InnovationNippon India Innovation |
|---|---|---|
| 2026to date | −6.27% | −2.92% |
| 2025 | +0.83% | +6.82% |
| 2024 | -- | +21.85% |
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation: Rolling Returns
Every holding period of both funds, against Nifty India New Age Consumption TRI, the benchmark of Mirae Asset Nifty India New Age Consumption ETF
Rolling returns
Every 1-year holding period, 207 of them, one for each trading day from 29-12-2025 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.
Mirae Asset Nifty India New Age Consumption ETF
Nippon India Innovation Fund (Direct)
Nifty India New Age Consumption TRI
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Nifty India New Age Consumption ETF | 47.8 | 36.2 | 13.5 | 2.4 | 0.0 | 0.0 | 0.0 | −0.1% | 0.3% | −12.7% | 12.2% | 0% |
| Nippon India Innovation | 11.7 | 37.9 | 38.8 | 7.3 | 4.4 | 0.0 | 0.0 | 5.2% | 5.0% | −7.7% | 16.8% | 100% |
| Nifty India New Age Consumption TRI | 45.9 | 36.7 | 13.0 | 4.3 | 0.0 | 0.0 | 0.0 | 0.2% | 0.7% | −12.4% | 12.7% | -- |
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 New Age 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 27-12-2024. Past returns do not promise future returns.
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation: 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 27-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Nifty India New Age Consumption ETFMirae Asset Nifty India New Age Consumption ETF | ₹2,30,000 | ₹2,25,587 | −₹4,413 | −1.9% |
| Nippon India InnovationNippon India Innovation Fund (Direct) | ₹2,30,000 | ₹2,32,505 | ₹2,505 | 1.1% |
Mirae Asset Nifty India New Age Consumption ETFMirae Asset Nifty India New Age Consumption ETF
Nippon India InnovationNippon India Innovation 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.
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Nifty India New Age Consumption ETF | Nippon India Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.69% | −5.09% |
| Standard deviation | 18.53% | 16.17% |
| Sharpe ratio | -0.81 | -0.64 |
| Sortino ratio | -1.08 | -0.86 |
| Maximum drawdown | −21.1% (30-03-2026) | −16.4% (31-03-2026) |
| Beta | 1.00 | 1.04 |
| Alpha | −0.33% | +2.79% |
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 | Mirae Asset Nifty India New Age Consumption ETF | Nippon India Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.09% | +11.81% |
| Standard deviation | 18.45% | 14.13% |
| Sharpe ratio | -0.47 | 0.41 |
| Sortino ratio | -0.64 | 0.55 |
| Maximum drawdown | −21.9% (30-03-2026) | −21.5% (03-03-2025) |
| Beta | 1.00 | 0.91 |
| Alpha | −0.35% | +2.90% |
From daily NAVs, 27-12-2024 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.
Mirae Asset Nifty India New Age Consumption ETF
Nippon India Innovation Fund (Direct)
Nifty India New Age Consumption TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Nifty India New Age Consumption ETF | −21.9% | 18-09-2025 | 30-03-2026 | Not yet | -- | −10.6% |
| Nippon India Innovation Fund (Direct) | −17.7% | 18-09-2025 | 31-03-2026 | 03-08-2026 | 4 months | −10.1% |
| Nifty India New Age Consumption TRI | −21.7% | 18-09-2025 | 30-03-2026 | 25-08-2026 | 5 months | −10.4% |
From daily values since 27-12-2024, 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.
Mirae Asset Nifty India New Age Consumption ETF
Nippon India Innovation Fund (Direct)
Nifty India New Age Consumption TRI
Against Nifty India New Age Consumption TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Nifty India New Age Consumption ETF | 99% | 100% | 0.06% |
| Nippon India Innovation Fund (Direct) | 96% | 80% | 5.74% |
From month-end values since 27-12-2024. 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.
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Nifty India New Age Consumption ETF, September 2026; Nippon India Innovation Fund, September 2026
Holdings in common
- Overlap
- 28.1%
- Held by both
- 17
- Only in Mirae Asset Nifty India New Age Consumption ETF
- 58
- Only in Nippon India Innovation
- 40
| Security | % of Mirae Asset Nifty India New Age Consumption ETF | % of Nippon India Innovation |
|---|---|---|
| Eternal Ltd. | 4.91% | 5.22% |
| Trent Ltd. | 3.29% | 3.54% |
| One 97 Communications Ltd. | 2.99% | 2.51% |
| Avenue Supermarts Ltd. | 2.31% | 2.56% |
| Info Edge (India) Ltd. | 1.78% | 4.64% |
| Interglobe Aviation Ltd. | 4.66% | 1.73% |
| FSN E-Commerce Ventures Ltd. | 1.65% | 2.05% |
| PB Fintech Ltd. | 1.56% | 1.62% |
| Dixon Technologies (India) Ltd. | 2.26% | 1.42% |
| Swiggy Ltd. | 1.42% | 2.91% |
| Tata Motors Passenger Vehicles Ltd. | 1.73% | 1.14% |
| Billionbrains Garage Ventures Ltd. | 1.09% | 1.01% |
| Bajaj Auto Ltd. | 3.46% | 0.90% |
| Meesho Ltd. | 0.79% | 1.03% |
| LG Electronics India Ltd. | 0.73% | 2.03% |
| Jubilant Foodworks Ltd. | 0.68% | 1.17% |
| Physicswallah Ltd. | 0.27% | 0.98% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.1% means 28.1% 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 Mirae Asset Nifty India New Age Consumption ETF
| Security | % of fund |
|---|---|
| Maruti Suzuki India Ltd. | 5.10% |
| Bharti Airtel Ltd. | 5.06% |
| Mahindra & Mahindra Ltd. | 4.99% |
| Titan Company Ltd. | 4.83% |
| Eicher Motors Ltd. | 2.88% |
Largest holdings only in Nippon India Innovation Fund
| Security | % of fund |
|---|---|
| Varun Beverages Limited | 3.47% |
| Samvardhana Motherson International Limited | 3.17% |
| 3M India Limited | 3.16% |
| ZF Commercial Vehicle Control Systems India Limited | 2.71% |
| Axis Bank Limited | 2.52% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Nifty India New Age Consumption ETF | Nippon India Innovation |
|---|---|---|
| Equity | 100.0% | 97.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 2.5% |
Market cap of stocks
| Market cap | Mirae Asset Nifty India New Age Consumption ETF | Nippon India Innovation |
|---|---|---|
| Large Cap | 53.9% | 38.2% |
| Mid Cap | 36.0% | 33.3% |
| Small Cap | 10.2% | 24.0% |
| Not on AMFI's list | 0.0% | 2.0% |
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 | Mirae Asset Nifty India New Age Consumption ETF | Nippon India Innovation |
|---|---|---|
| Automobiles | 25.1% | 2.0% |
| Retailing | 19.9% | 21.9% |
| Consumer Durables | 13.5% | 4.2% |
| Realty | 8.8% | 0.0% |
| Capital Markets | 7.9% | 3.1% |
| Telecom - Services | 7.8% | 0.0% |
| Auto Components | 0.0% | 7.4% |
| Banks | 0.0% | 6.8% |
| Electrical Equipment | 0.0% | 6.2% |
| Leisure Services | 4.9% | 4.5% |
| Insurance | 0.0% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Nifty India New Age Consumption ETF | Nippon India Innovation Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.90% |
| Base expense ratio (Direct) | 0.00% | 0.61% |
| Total expense ratio (Regular) | Not available | 2.11% |
| Base expense ratio (Regular) | 0.29% | 1.69% |
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.
More comparisons
Each fund against the others of its category
Compare Nippon India Innovation with
Mirae Asset Nifty India New Age Consumption ETF vs Nippon India Innovation Fund: Frequently Asked Questions
What is the difference between Mirae Asset Nifty India New Age Consumption ETF and Nippon India Innovation Fund?
Mirae Asset Nifty India New Age Consumption ETF is an ETF fund, Nippon India Innovation Fund is a Thematic fund, run by Mirae Asset Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 28.1%. Mirae Asset Nifty India New Age Consumption ETF charges 0.46% a year and Nippon India Innovation Fund 0.90%.
Which has given higher returns, Mirae Asset Nifty India New Age Consumption ETF or Nippon India Innovation Fund?
Over 1 year: Mirae Asset Nifty India New Age Consumption ETF −9.69%, Nippon India Innovation Fund −5.09%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Nifty India New Age Consumption ETF or Nippon India Innovation Fund?
Mirae Asset Nifty India New Age Consumption ETF charges less: 0.46% a year against 0.90%. These are the total expense ratios reported to AMFI.
How much do Mirae Asset Nifty India New Age Consumption ETF and Nippon India Innovation Fund overlap?
28.1%. They hold 17 of the same securities, the largest shared ones being ETERNAL, TRENT, PAYTM. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Nifty India New Age Consumption ETF or Nippon India Innovation Fund?
On SEBI's riskometer, Mirae Asset Nifty India New Age Consumption ETF is rated Very High and Nippon India Innovation Fund Very High. Over 1 years, the standard deviation of daily returns was 18.53% and 16.17% a year.
Can I invest in both Mirae Asset Nifty India New Age Consumption ETF and Nippon India Innovation Fund?
Yes. 28.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Mirae Asset Nifty India New Age Consumption ETF and Nippon India Innovation Fund?
Mirae Asset Nifty India New Age Consumption ETF: Ekta Gala, amp, Vishal Singh. Nippon India Innovation Fund: Vinay Sharma, Rishit Parikh.
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.