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    Nippon India Nifty 500 Equal Weight Index Fund vs SBI Nifty 500 Index Fund

    Direct Plan, Growth option · Data as on 30-10-2026

    Nippon India Nifty 500 Equal Weight Index Fund is a mutual fund and SBI Nifty 500 Index Fund is a mutual fund. In the year to 30-10-2026, Nippon India Nifty 500 Equal Weight Index Fund (Direct) returned −7.2% and SBI Nifty 500 Index Fund (Direct) returned −7.7%. Nippon India Nifty 500 Equal Weight Index Fund charges 0.55% a year and SBI Nifty 500 Index Fund 0.34% (Direct plans). Their portfolios overlap 49.3%: they hold 497 of the same securities.

    Nippon India Nifty 500 Equal Weight Index Fund

    1 year return
    −7.2%
    Expense ratio
    0.55%
    NAV
    ₹8.99
    See Nippon India Nifty 500 Equal Weight Index Fund

    SBI Nifty 500 Index Fund

    1 year return
    −7.7%
    Expense ratio
    0.34%
    NAV
    ₹9.14
    See SBI Nifty 500 Index Fund

    Which is better, Nippon India Nifty 500 Equal Weight Index or SBI Nifty 500 Index? 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 Nifty 500 Equal Weight Index returned more over 1 year: −7.2% against −7.7%.
    • SBI Nifty 500 Index costs less: 0.34% a year against 0.55% (Direct plans).
    • SBI Nifty 500 Index fell less in its worst fall since 04-10-2024: −16.1% against −22.4%.
    • SBI Nifty 500 Index holds more in large companies: 67.1% of the fund in large caps against 20.0%.
    • SBI Nifty 500 Index is the larger fund: ₹734 Cr against ₹450 Cr.
    • Their portfolios overlap 49.3%: 497 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

    FactNippon India Nifty 500 Equal Weight Index FundSBI Nifty 500 Index Fund
    Fund houseNippon India Mutual FundSBI Mutual Fund
    CategoryNot availableNot available
    AUM₹450 Cr (30-09-2026)₹734 Cr (30-09-2026)
    NAV₹8.99 (Direct)₹9.14 (Direct)
    Expense ratio (Direct)0.55%0.34%
    Expense ratio (Regular)1.13%0.81%
    RiskometerNot availableNot available
    BenchmarkNot availableNot available
    Launch dateNot availableNot available
    Minimum investmentNot availableNot available
    Lock inNot availableNot available
    Fund managersNot availableNot available
    Exit loadNot availableNot available

    Nippon India Nifty 500 Equal Weight Index vs SBI Nifty 500 Index: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    Nippon India Nifty 500 Equal Weight Index Fund (Direct)−5.15%−8.61%−3.99%−7.19%------
    SBI Nifty 500 Index Fund (Direct)−0.79%−6.16%−3.03%−7.70%------

    Nippon India Nifty 500 Equal Weight Index vs SBI Nifty 500 Index: Year-wise Returns

    YearNippon India Nifty 500 Equal WeightNippon India Nifty 500 Equal Weight IndexSBI Nifty 500SBI Nifty 500 Index
    2026to date−4.68%−7.81%
    2025+0.45%+7.38%

    Nippon India Nifty 500 Equal Weight Index vs SBI Nifty 500 Index: Rolling Returns

    Every holding period of both funds, against Nifty500 Equal Weight TRI, the benchmark of Nippon India Nifty 500 Equal Weight Index Fund

    Rolling returns

    Every 1-year holding period, 262 of them, one for each trading day from 06-10-2025 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.

    −10%−5%0%5%10%15%20%
    Nov 2024
    to
    Nov 2025    Jan 2025
    to
    Jan 2026    Mar 2025
    to
    Mar 2026    May 2025
    to
    May 2026    Jul 2025
    to
    Jul 2026    Sept 2025
    to
    Sept 2026
    Nippon India Nifty 500 Equal Weight Index Fund (Direct)SBI Nifty 500 Index Fund (Direct)Nifty500 Equal Weight TRI

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighestBeat benchmark
    Nippon India Nifty 500 Equal Weight Index25.639.326.77.60.80.00.03.1%2.4%−7.8%15.5%0%
    SBI Nifty 500 Index28.232.330.17.51.90.00.03.4%3.0%−9.3%17.2%39%
    Nifty500 Equal Weight TRI20.642.426.39.51.10.00.03.7%3.0%−7.3%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 Nifty500 Equal Weight 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 04-10-2024. Past returns do not promise future returns.

    Nippon India Nifty 500 Equal Weight Index vs SBI Nifty 500 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-10-2024 to 30-10-2026: 25 instalments, ₹2,50,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Nippon India Nifty 500 Equal Weight IndexNippon India Nifty 500 Equal Weight Index Fund (Direct) ₹2,50,000 ₹2,43,770 −₹6,230 −2.3%
    SBI Nifty 500 IndexSBI Nifty 500 Index Fund (Direct) ₹2,50,000 ₹2,43,790 −₹6,210 −2.3%
    ₹0₹1.0 L₹2.0 L₹3.0 L
    20252026
    Nippon India Nifty 500 Equal Weight IndexNippon India Nifty 500 Equal Weight Index Fund (Direct)SBI Nifty 500 IndexSBI Nifty 500 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.

    Nippon India Nifty 500 Equal Weight Index vs SBI Nifty 500 Index: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureNippon India Nifty 500 Equal Weight Index Fund (Direct)SBI Nifty 500 Index Fund (Direct)
    Return (CAGR)−7.19%−7.70%
    Standard deviation16.71%14.38%
    Sharpe ratio-0.74-0.90
    Sortino ratio-0.99-1.20
    Maximum drawdown−16.6% (30-03-2026)−14.8% (31-03-2026)
    Beta1.001.00
    Alpha−0.56%−0.36%

    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.

    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.

    −25%−20%−15%−10%−5%0%
    20252026
    Nippon India Nifty 500 Equal Weight Index Fund (Direct)SBI Nifty 500 Index Fund (Direct)Nifty500 Equal Weight TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Nippon India Nifty 500 Equal Weight Index Fund (Direct)−22.4%16-10-202403-03-202503-08-202617 months−10.6%
    SBI Nifty 500 Index Fund (Direct)−16.1%15-10-202428-02-202517-10-20258 months−8.7%
    Nifty500 Equal Weight TRI−22.3%16-10-202403-03-202506-07-202616 months−10.5%

    From daily values since 04-10-2024, 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.

    0%5%10%15%20%
    2026
    Nippon India Nifty 500 Equal Weight Index Fund (Direct)SBI Nifty 500 Index Fund (Direct)Nifty500 Equal Weight TRI

    Against Nifty500 Equal Weight TRI

    FundUp captureDown captureTracking error
    Nippon India Nifty 500 Equal Weight Index Fund (Direct)99%101%0.10%
    SBI Nifty 500 Index Fund (Direct)73%73%7.77%

    From month-end values since 04-10-2024. 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.

    Nippon India Nifty 500 Equal Weight Index vs SBI Nifty 500 Index: Portfolio Overlap

    From each fund's latest monthly portfolio: Nippon India Nifty 500 Equal Weight Index Fund, September 2026; SBI Nifty 500 Index Fund, September 2026

    Holdings in common

    Overlap
    49.3%
    Held by both
    497
    Only in Nippon India Nifty 500 Equal Weight Index
    3
    Only in SBI Nifty 500 Index
    1
    Security% of Nippon India Nifty 500 Equal Weight Index% of SBI Nifty 500 Index
    The Indian Hotels Company Limited0.21%0.33%
    Dr. Reddy's Laboratories Limited0.21%0.39%
    Kotak Mahindra Bank Limited0.21%1.60%
    Axis Bank Limited0.21%1.84%
    InterGlobe Aviation Limited0.21%0.59%
    Adani Ports and Special Economic Zone Limited0.21%0.73%
    Adani Power Limited0.21%0.44%
    Lenskart Solutions Limited0.21%0.26%
    One 97 Communications Limited0.21%0.38%
    ICICI Lombard General Insurance Company Limited0.21%0.20%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.3% means 49.3% 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 Nippon India Nifty 500 Equal Weight Index Fund

    Security% of fund
    MMTC Limited0.20%
    Sterlite Technologies Limited0.02%
    MTAR Technologies Limited0.01%

    Largest holdings only in SBI Nifty 500 Index Fund

    Security% of fund
    Nippon Life India Asset Management Ltd.0.10%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetNippon India Nifty 500 Equal Weight IndexSBI Nifty 500 Index
    Equity99.0%99.5%
    Debt0.0%0.0%
    Cash and others1.0%0.5%

    Market cap of stocks

    Market capNippon India Nifty 500 Equal Weight IndexSBI Nifty 500 Index
    Large Cap20.0%67.1%
    Mid Cap28.7%20.9%
    Small Cap49.9%11.4%
    Not on AMFI's list0.4%0.1%

    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

    SectorNippon India Nifty 500 Equal Weight IndexSBI Nifty 500 Index
    Banks5.2%19.3%
    Finance8.3%6.5%
    Pharmaceuticals & Biotechnology6.4%5.8%
    IT - Software3.4%5.7%
    Auto Components5.6%2.5%
    Industrial Products5.3%2.2%
    Petroleum Products1.4%5.0%
    Automobiles2.4%4.9%
    Electrical Equipment4.0%2.6%

    The six largest sectors of each fund's stocks, % of the fund.

    Nippon India Nifty 500 Equal Weight Index vs SBI Nifty 500 Index: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeNippon India Nifty 500 Equal Weight Index FundSBI Nifty 500 Index Fund
    Total expense ratio (Direct)0.55%0.34%
    Base expense ratio (Direct)0.30%0.26%
    Total expense ratio (Regular)1.13%0.81%
    Base expense ratio (Regular)0.79%0.66%

    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.

    Nippon India Nifty 500 Equal Weight Index Fund vs SBI Nifty 500 Index Fund: Frequently Asked Questions

    What is the difference between Nippon India Nifty 500 Equal Weight Index Fund and SBI Nifty 500 Index Fund?

    Nippon India Nifty 500 Equal Weight Index Fund is a mutual fund, SBI Nifty 500 Index Fund is a mutual fund, run by Nippon India Mutual Fund and SBI Mutual Fund. Their portfolios overlap 49.3%. Nippon India Nifty 500 Equal Weight Index Fund charges 0.55% a year and SBI Nifty 500 Index Fund 0.34%.

    Which has given higher returns, Nippon India Nifty 500 Equal Weight Index Fund or SBI Nifty 500 Index Fund?

    Over 1 year: Nippon India Nifty 500 Equal Weight Index Fund −7.19%, SBI Nifty 500 Index Fund −7.70%. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, Nippon India Nifty 500 Equal Weight Index Fund or SBI Nifty 500 Index Fund?

    SBI Nifty 500 Index Fund charges less: 0.34% a year against 0.55%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do Nippon India Nifty 500 Equal Weight Index Fund and SBI Nifty 500 Index Fund overlap?

    49.3%. They hold 497 of the same securities, the largest shared ones being INDHOTEL, DRREDDY, KOTAKBANK. From each fund's latest monthly portfolio.

    Can I invest in both Nippon India Nifty 500 Equal Weight Index Fund and SBI Nifty 500 Index Fund?

    Yes. 49.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

    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.

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