Tata Ethical Fund vs UTI Nifty500 Shariah Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Ethical Fund is a Thematic fund and UTI Nifty500 Shariah Index Fund is an Index fund. Tata Ethical Fund charges 0.84% a year and UTI Nifty500 Shariah Index Fund 0.78% (Direct plans). Their portfolios overlap 47.2%: they hold 49 of the same securities.
Which is better, Tata Ethical or UTI Nifty500 Shariah Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI Nifty500 Shariah Index costs less: 0.78% a year against 0.84% (Direct plans).
- Tata Ethical fell less in its worst fall since 26-02-2026: −10.3% against −10.3%.
- Tata Ethical is the larger fund: ₹3,619 Cr against ₹88 Cr.
- Their portfolios overlap 47.2%: 49 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 | Tata Ethical Fund | UTI Nifty500 Shariah Index Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | UTI Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹3,619 Cr (30-09-2026) | ₹88 Cr (30-09-2026) |
| NAV | ₹403.18 (Direct) | ₹9.62 (Direct) |
| Expense ratio (Direct) | 0.84% | 0.78% |
| Expense ratio (Regular) | 1.97% | 1.24% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 Shariah TRI | Nifty 500 Shariah TRI |
| Launch date | 05-08-1996 | 23-02-2026 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Abhinav Sharma | Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3 |
| Exit load | 0.50% of NAV if redeemed/switched out on or before 90 days from the date of allotment | Nil |
Tata Ethical vs UTI Nifty500 Shariah 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 |
|---|---|---|---|---|---|---|---|
| Tata Ethical Fund (Direct) | +1.66% | −5.67% | −2.80% | −8.64% | +5.40% | +6.37% | +11.26% |
| UTI Nifty500 Shariah Index Fund (Direct) | +0.16% | −6.03% | −2.97% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
Tata Ethical vs UTI Nifty500 Shariah Index: Year-wise Returns
| Year | Tata EthicalTata Ethical | UTI Nifty500 Shariah IndexUTI Nifty500 Shariah Index | Nifty500 Shariah TRI |
|---|---|---|---|
| 2026to date | −9.74% | -- | −6.98% |
| 2025 | −0.09% | -- | −2.84% |
| 2024 | +14.61% | -- | +17.62% |
| 2023 | +28.27% | -- | +24.99% |
| 2022 | −5.36% | -- | −4.36% |
| 2021 | +46.56% | -- | +39.90% |
Tata Ethical vs UTI Nifty500 Shariah Index: Rolling Returns
Every holding period of both funds, against Nifty500 Shariah TRI, the benchmark of both
Tata Ethical vs UTI Nifty500 Shariah Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Ethical Fund (Direct) | UTI Nifty500 Shariah Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.05% | −6.11% |
| Standard deviation | 13.15% | 14.41% |
| Sharpe ratio | 0.53 | -0.79 |
| Sortino ratio | 0.73 | -1.04 |
| Maximum drawdown | −29.5% (23-03-2020) | −10.3% (23-10-2026) |
| Beta | 0.87 | 1.00 |
| Alpha | +0.38% | −0.70% |
From daily NAVs, 02-01-2013 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.
Tata Ethical Fund (Direct)
UTI Nifty500 Shariah Index Fund (Direct)
Nifty500 Shariah TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Tata Ethical Fund (Direct) | −10.3% | 26-02-2026 | 31-03-2026 | 03-08-2026 | 4 months | −7.0% |
| UTI Nifty500 Shariah Index Fund (Direct) | −10.3% | 10-08-2026 | 23-10-2026 | Not yet | -- | −7.9% |
| Nifty500 Shariah TRI | −10.3% | 26-02-2026 | 23-03-2026 | 21-04-2026 | 29 days | −7.8% |
From daily values since 26-02-2026, the first day every fund has.
Tata Ethical vs UTI Nifty500 Shariah Index: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Ethical Fund, September 2026; UTI Nifty500 Shariah Index Fund, September 2026
Holdings in common
- Overlap
- 47.2%
- Held by both
- 49
- Only in Tata Ethical
- 5
- Only in UTI Nifty500 Shariah Index
- 154
| Security | % of Tata Ethical | % of UTI Nifty500 Shariah Index |
|---|---|---|
| INFOSYS LTD | 6.79% | 5.84% |
| TATA CONSULTANCY SERVICES LTD | 5.26% | 3.48% |
| HINDUSTAN UNILEVER LTD | 2.95% | 2.77% |
| SUN PHARMACEUTICAL INDUSTRIES LTD | 2.34% | 3.20% |
| HCL TECHNOLOGIES LTD | 3.17% | 2.16% |
| ULTRATECH CEMENT LTD | 2.49% | 2.16% |
| HINDALCO INDUSTRIES LTD | 2.08% | 2.27% |
| TECH MAHINDRA LTD | 3.73% | 1.61% |
| NESTLE INDIA LTD | 1.92% | 1.56% |
| CIPLA LTD | 2.36% | 1.26% |
| DR REDDYS LABORATORIES LTD | 3.37% | 1.25% |
| SAMVARDHANA MOTHERSON INTERNATIONAL LTD | 1.47% | 1.20% |
| ASIAN PAINTS LTD | 1.14% | 1.81% |
| CUMMINS INDIA LTD | 1.65% | 1.07% |
| BHARAT HEAVY ELECTRICALS LTD | 2.93% | 1.01% |
| BHARAT PETROLEUM CORPORATION LTD | 1.09% | 1.01% |
| PERSISTENT SYSTEMS LTD | 1.63% | 0.96% |
| BRITANNIA INDUSTRIES LTD | 2.00% | 0.95% |
| DIXON TECHNOLOGIES (INDIA) LTD | 1.09% | 0.91% |
| INDUS TOWERS LTD | 1.34% | 0.80% |
| AVENUE SUPERMARTS LTD | 0.77% | 1.02% |
| JINDAL STEEL LTD | 2.82% | 0.70% |
| TATA CONSUMER PRODUCTS LTD | 0.68% | 1.03% |
| FORTIS HEALTHCARE LTD | 2.13% | 0.67% |
| LTM LTD | 2.12% | 0.63% |
| SWIGGY LTD | 1.65% | 0.63% |
| SONA BLW PRECISION FORGINGS LTD | 1.22% | 0.62% |
| SRF LTD | 2.49% | 0.60% |
| GODREJ CONSUMER PRODUCTS LTD | 0.90% | 0.57% |
| ALKEM LABORATORIES LTD | 2.14% | 0.52% |
| HYUNDAI MOTOR INDIA LTD | 0.70% | 0.48% |
| MPHASIS LTD | 2.08% | 0.47% |
| IPCA LABORATORIES LTD | 1.54% | 0.45% |
| MRF LTD | 0.85% | 0.41% |
| COLGATE-PALMOLIVE INDIA LTD | 1.15% | 0.39% |
| SUPREME INDUSTRIES LTD | 0.60% | 0.37% |
| UNO MINDA LTD | 0.94% | 0.35% |
| EXIDE INDUSTRIES LTD | 2.12% | 0.31% |
| GUJARAT FLUOROCHEMICALS LTD | 1.69% | 0.31% |
| SCHAEFFLER (I) LTD | 0.66% | 0.26% |
| CARBORUNDUM UNIVERSAL LTD | 1.34% | 0.24% |
| CROMPTON GREAVES CONSUMER ELECTRICALS LTD | 1.66% | 0.22% |
| ENDURANCE TECHNOLOGIES LTD | 1.32% | 0.16% |
| TATA CHEMICALS LTD | 1.10% | 0.16% |
| AMARA RAJA ENERGY & MOBILITY LTD | 1.25% | 0.15% |
| MOTHERSON SUMI WIRING INDIA LTD | 1.23% | 0.14% |
| CYIENT LTD | 0.69% | 0.14% |
| SYNGENE INTERNATIONAL LTD | 1.19% | 0.12% |
| BIRLASOFT LTD | 0.90% | 0.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.2% means 47.2% 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 Tata Ethical Fund
| Security | % of fund |
|---|---|
| TATA GOLD EXCHANGE TRADED FUND | 1.19% |
| SUNDRAM FASTENERS LTD | 0.98% |
| GUJARAT STATE FERTILIZERS &CHEM LTD | 0.93% |
| 3M INDIA LTD | 0.62% |
| SANOFI INDIA LTD | 0.19% |
Largest holdings only in UTI Nifty500 Shariah Index Fund
| Security | % of fund |
|---|---|
| EQ - ETERNAL LIMITED | 3.86% |
| EQ - TATA MOTORS LTD | 1.47% |
| EQ - OIL & NATURAL GAS CORPORATION | 1.46% |
| EQ - TRENT LIMITED | 1.45% |
| EQ - LAURUS LABS LTD. | 1.28% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Ethical | UTI Nifty500 Shariah Index |
|---|---|---|
| Equity | 93.5% | 100.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.5% | -0.2% |
Market cap of stocks
| Market cap | Tata Ethical | UTI Nifty500 Shariah Index |
|---|---|---|
| Large Cap | 52.7% | 54.0% |
| Mid Cap | 27.2% | 30.9% |
| Small Cap | 13.6% | 15.0% |
| Not on AMFI's list | 0.0% | 0.3% |
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 | Tata Ethical | UTI Nifty500 Shariah Index |
|---|---|---|
| IT - Software | 25.7% | 16.6% |
| Pharmaceuticals & Biotechnology | 11.9% | 13.7% |
| Auto Components | 12.0% | 5.3% |
| Retailing | 2.4% | 8.3% |
| Electrical Equipment | 2.9% | 6.0% |
| Industrial Products | 3.6% | 5.9% |
| Chemicals & Petrochemicals | 5.3% | 3.0% |
| Consumer Durables | 3.9% | 5.0% |
| Food Products | 3.9% | 2.5% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Ethical vs UTI Nifty500 Shariah Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Ethical Fund | UTI Nifty500 Shariah Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.84% | 0.78% |
| Base expense ratio (Direct) | 0.61% | 0.50% |
| Total expense ratio (Regular) | 1.97% | 1.24% |
| Base expense ratio (Regular) | 1.63% | 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.
More comparisons
Each fund against the others of its category
Tata Ethical Fund vs UTI Nifty500 Shariah Index Fund: Frequently Asked Questions
What is the difference between Tata Ethical Fund and UTI Nifty500 Shariah Index Fund?
Tata Ethical Fund is a Thematic fund, UTI Nifty500 Shariah Index Fund is an Index fund, run by Tata Mutual Fund and UTI Mutual Fund. Their portfolios overlap 47.2%. Tata Ethical Fund charges 0.84% a year and UTI Nifty500 Shariah Index Fund 0.78%.
Which has the lower expense ratio, Tata Ethical Fund or UTI Nifty500 Shariah Index Fund?
UTI Nifty500 Shariah Index Fund charges less: 0.78% a year against 0.84%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Ethical Fund and UTI Nifty500 Shariah Index Fund overlap?
47.2%. They hold 49 of the same securities, the largest shared ones being INFY, TCS, HINDUNILVR. From each fund's latest monthly portfolio.
Which is riskier, Tata Ethical Fund or UTI Nifty500 Shariah Index Fund?
On SEBI's riskometer, Tata Ethical Fund is rated Very High and UTI Nifty500 Shariah Index Fund Very High. Over their common history, the standard deviation of daily returns was 13.15% and 14.41% a year.
Can I invest in both Tata Ethical Fund and UTI Nifty500 Shariah Index Fund?
Yes. 47.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Tata Ethical Fund and UTI Nifty500 Shariah Index Fund?
Tata Ethical Fund: Abhinav Sharma. UTI Nifty500 Shariah Index Fund: Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3.
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.