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List of the Best Index Funds in India (2026)

Index fund investment in India has grown rapidly as more investors look for low-cost, transparent ways to participate in equity markets. From the best Nifty 50 index fund options to midcap and smallcap trackers, the index fund list available today spans a wide range of benchmarks and risk profiles. Whether you are exploring index fund SIP calculator tools to plan a monthly investment or simply comparing index fund returns across categories, this guide covers the top index funds in India to help you make an informed decision.

Top Index Funds in 2026

Best Index Funds for SIP Screener (2026)

Here's the list of Best Index Funds for SIP in India (2026)

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@82600328260032

Showing 1 - 20 of 365 results

last updated at 11:00 PM IST 
NameMFs (365)↓↓Sub CategorySub Category↓↓PlanPlan↓↓AUMAUM↓↓CAGR 3YCAGR 3Y↓↓Expense RatioExpense Ratio↓↓CAGR 5YCAGR 5Y↓↓Absolute Returns - 1YAbsolute Ret. - 1Y↓↓AlphaAlpha↓↓NAVNAV↓↓Exit LoadExit Load↓↓VolatilityVolatility↓↓Tracking ErrorTracking Error↓
1.Motilal Oswal Nifty Midcap 150 Index Fund
Motilal Oswal Nifty Midcap 150 Index Fund
Index Fund
Index Fund
Growth
Growth
2,900.79
2,900.79
23.08
23.08
0.23
0.23
19.75
19.75
11.20
11.20
0.81
0.81
39.84
39.84
1.00
1.00
16.38
16.38
0.06
0.06
2.Aditya Birla SL Nifty Midcap 150 Index Fund
Aditya Birla SL Nifty Midcap 150 Index Fund
Index Fund
Index Fund
Growth
Growth
386.48
386.48
22.94
22.94
0.40
0.40
19.67
19.67
10.93
10.93
0.71
0.71
24.85
24.85
0.25
0.25
16.37
16.37
0.05
0.05
3.Nippon India Nifty Midcap 150 Index Fund
Nippon India Nifty Midcap 150 Index Fund
Index Fund
Index Fund
Growth
Growth
2,018.02
2,018.02
22.83
22.83
0.30
0.30
19.50
19.50
11.03
11.03
0.75
0.75
25.44
25.44
-
-
16.35
16.35
0.14
0.14
4.Motilal Oswal Nifty Smallcap 250 Index Fund
Motilal Oswal Nifty Smallcap 250 Index Fund
Index Fund
Index Fund
Growth
Growth
931.82
931.82
21.43
21.43
0.33
0.33
18.27
18.27
9.16
9.16
1.14
1.14
37.43
37.43
1.00
1.00
17.25
17.25
0.05
0.05
5.Nippon India Nifty Smallcap 250 Index Fund
Nippon India Nifty Smallcap 250 Index Fund
Index Fund
Index Fund
Growth
Growth
2,752.94
2,752.94
20.94
20.94
0.35
0.35
18.03
18.03
9.09
9.09
1.11
1.11
33.12
33.12
-
-
17.25
17.25
0.07
0.07
6.Motilal Oswal S&P 500 Index Fund
Motilal Oswal S&P 500 Index Fund
Index Fund
Index Fund
Growth
Growth
3,935.83
3,935.83
26.86
26.86
0.65
0.65
17.44
17.44
45.63
45.63
13.62
13.62
31.54
31.54
1.00
1.00
13.03
13.03
18.00
18.00
7.Kotak Nifty Next 50 Index Fund
Kotak Nifty Next 50 Index Fund
Index Fund
Index Fund
Growth
Growth
853.62
853.62
21.37
21.37
0.10
0.10
15.62
15.62
8.81
8.81
0.93
0.93
20.38
20.38
-
-
16.90
16.90
0.05
0.05
8.DSP NIFTY Next 50 Index Fund
DSP NIFTY Next 50 Index Fund
Index Fund
Index Fund
Growth
Growth
1,065.91
1,065.91
21.33
21.33
0.26
0.26
15.50
15.50
8.75
8.75
0.91
0.91
27.55
27.55
-
-
16.88
16.88
0.09
0.09
9.UTI Nifty Next 50 Index Fund
UTI Nifty Next 50 Index Fund
Index Fund
Index Fund
Growth
Growth
5,550.76
5,550.76
21.35
21.35
0.35
0.35
15.46
15.46
8.74
8.74
0.91
0.91
25.81
25.81
-
-
16.94
16.94
0.03
0.03
10.LIC MF Nifty Next 50 Index Fund
LIC MF Nifty Next 50 Index Fund
Index Fund
Index Fund
Growth
Growth
101.14
101.14
21.20
21.20
0.38
0.38
15.46
15.46
8.73
8.73
0.90
0.90
56.89
56.89
-
-
16.81
16.81
0.25
0.25
11.Aditya Birla SL Nifty Smallcap 50 Index Fund
Aditya Birla SL Nifty Smallcap 50 Index Fund
Index Fund
Index Fund
Growth
Growth
234.13
234.13
25.18
25.18
0.48
0.48
15.46
15.46
10.73
10.73
0.84
0.84
21.48
21.48
0.25
0.25
18.91
18.91
0.11
0.11
12.DSP Nifty 50 Equal Weight Index Fund
DSP Nifty 50 Equal Weight Index Fund
Index Fund
Index Fund
Growth
Growth
2,254.98
2,254.98
16.62
16.62
0.40
0.40
15.42
15.42
7.38
7.38
0.40
0.40
26.87
26.87
-
-
13.54
13.54
0.09
0.09
13.Motilal Oswal Nifty Next 50 Index Fund
Motilal Oswal Nifty Next 50 Index Fund
Index Fund
Index Fund
Growth
Growth
380.90
380.90
21.34
21.34
0.32
0.32
15.41
15.41
8.70
8.70
0.89
0.89
24.98
24.98
1.00
1.00
16.90
16.90
0.07
0.07
14.ICICI Pru Nifty Next 50 Index Fund
ICICI Pru Nifty Next 50 Index Fund
Index Fund
Index Fund
Growth
Growth
7,604.43
7,604.43
21.16
21.16
0.31
0.31
15.34
15.34
8.61
8.61
0.86
0.86
64.70
64.70
-
-
16.93
16.93
0.09
0.09
15.HSBC Nifty Next 50 Index Fund
HSBC Nifty Next 50 Index Fund
Index Fund
Index Fund
Growth
Growth
128.91
128.91
20.93
20.93
0.33
0.33
15.11
15.11
8.29
8.29
0.74
0.74
30.47
30.47
1.00
1.00
16.97
16.97
0.35
0.35
16.Sundaram Nifty 100 Equal Weight Fund
Sundaram Nifty 100 Equal Weight Fund
Index Fund
Index Fund
Growth
Growth
121.51
121.51
18.41
18.41
0.49
0.49
14.76
14.76
8.36
8.36
-0.18
-0.18
188.22
188.22
-
-
14.83
14.83
0.38
0.38
17.Motilal Oswal Nifty 500 Index Fund
Motilal Oswal Nifty 500 Index Fund
Index Fund
Index Fund
Growth
Growth
2,638.87
2,638.87
15.01
15.01
0.17
0.17
13.63
13.63
3.83
3.83
0.74
0.74
26.38
26.38
1.00
1.00
14.08
14.08
0.03
0.03
18.UTI Nifty200 Momentum 30 Index Fund
UTI Nifty200 Momentum 30 Index Fund
Index Fund
Index Fund
Growth
Growth
7,475.58
7,475.58
16.59
16.59
0.43
0.43
13.60
13.60
2.96
2.96
0.81
0.81
20.87
20.87
-
-
17.82
17.82
0.22
0.22
19.Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund
Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund
Index Fund
Index Fund
Growth
Growth
167.23
167.23
20.25
20.25
0.52
0.52
12.98
12.98
9.79
9.79
2.95
2.95
21.62
21.62
-
-
11.09
11.09
11.91
11.91
20.Nippon India Nifty 50 Value 20 Index Fund
Nippon India Nifty 50 Value 20 Index Fund
Index Fund
Index Fund
Growth
Growth
912.24
912.24
11.29
11.29
0.25
0.25
12.38
12.38
-1.43
-1.43
0.39
0.39
18.22
18.22
-
-
12.66
12.66
0.06
0.06
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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Mutual Fund Screener and is subject to real-time updates.

Selection criteria: 5Y CAGR: Sorted from highest to lowest, Plan: Growth, Sub-Category: Index Fund

What are Index Funds in India

Index funds in India are passively managed equity mutual funds that replicate the composition and weightage of a specific benchmark index, such as the Nifty 50, Nifty Midcap 150, or Nifty Smallcap 250. Rather than attempting to outperform the market through active stock selection, an equity index fund simply mirrors its target index by holding the same securities in the same proportions. Because they require no active management, index funds typically carry lower expense ratios than actively managed funds, making index fund investment an efficient and cost-effective way to gain broad market exposure. Investors can track index fund returns directly against the underlying benchmark and use an index fund SIP calculator to plan regular contributions over time.

Overview of the Best Index Funds in India

Motilal Oswal Nifty Midcap 150 Index Fund

Motilal Oswal Mutual Fund offers this passively managed equity index fund, which tracks the Nifty Midcap 150 Index. This index represents 150 midcap companies listed on the NSE. The fund aims to deliver returns in line with the benchmark by holding the same stocks in similar weightages with low tracking error. It gives investors a cost-effective way to get exposure to midcap equities.

Aditya Birla SL Nifty Midcap 150 Index Fund

Aditya Birla Sun Life Mutual Fund offers this open-ended equity index fund, which passively tracks the Nifty Midcap 150 Index. The fund aims to provide returns that closely match the total returns of the Nifty Midcap 150 before expenses. It suits those looking for midcap market exposure through a transparent, rules-based, and relatively low-cost index fund.

Nippon India Nifty Midcap 150 Index Fund

Nippon India Mutual Fund offers this passively managed scheme, which replicates the Nifty Midcap 150 Index. The fund holds the constituent stocks in proportion to their index weights and aims to keep tracking error low while staying close to the benchmark. It gives long-term investors a structured and low-cost way to build midcap exposure.

Motilal Oswal Nifty Smallcap 250 Index Fund

Motilal Oswal Mutual Fund offers this passively managed equity index fund, which tracks the Nifty Smallcap 250 Index. This index represents 250 smallcap companies listed on the NSE. The fund aims to deliver returns in line with the smallcap segment by replicating the index with low deviation. It gives investors broad exposure to smallcap stocks through a single and transparent index fund.

Nippon India Nifty Smallcap 250 Index Fund

Nippon India Mutual Fund offers this open-ended passively managed scheme, which tracks the Nifty Smallcap 250 Index. The fund replicates the benchmark composition and aims to deliver returns that closely match the performance of the smallcap universe. It is built for those who want rule-based exposure to India’s smallcap segment through a relatively low-cost equity index fund.

How to Invest in Index Funds in India ?

Here's how you can identify and invest in the top index funds in India with Tickertape Mutual Fund Screener -

  1. Launch Tickertape Mutual Fund Screener.
  2. Select "Index Fund" in the category to filter the index fund list.
  3. Sort out the best index funds in India based on over 50 fundamental and technical filters, including index fund returns and tracking error.
  4. After identifying the equity index fund options that align with your investment thesis, click on "Place Order" to invest in the fund.

With Tickertape Mutual Fund Screener, you can invest via 'lumpsum' or use the index fund SIP calculator to start a 'SIP' in Index Funds. Moreover, by connecting your portfolio, you can do a deep analysis of your portfolio and assess its performance.

Taxation of Index Funds

Index funds in India are treated as equity mutual funds when they track equity indices, and gains from them are taxed as capital gains.

Fund Category Type of Gain Holding Period Tax Rate (FY 2025-26)
Equity Index Funds Short-Term (STCG) Up to 12 months 20%
Equity Index Funds Long-Term (LTCG) More than 12 months 12.5% on gains above ₹1.25 lakh
Debt Index Funds All Gains Any duration Taxed at applicable income tax slab rate
Gold / International Index Funds All Gains Any duration Taxed at applicable income tax slab rate, if classified as specified mutual funds
Gold / International Index Funds Long-Term (LTCG) More than 24 months 12.5% without indexation, where not covered under specified mutual fund rules

Benefits of Investing in Index Funds

Low Cost Compared to Active Funds

Because an index fund simply replicates a benchmark without requiring active research or stock selection, its expense ratio is significantly lower than most actively managed equity funds. This cost advantage directly improves net index fund returns for investors over longer holding periods, as less of the portfolio's growth is consumed by fees.

Transparent and Rule-Based Investing

An equity index fund holds the same stocks as its benchmark in the same proportion, making the portfolio fully transparent at all times. Investors always know what they own, and there are no surprises from fund manager discretion or style drift. This predictability is one of the core reasons index fund investment has grown in popularity among both new and experienced investors.

Broad Market Diversification

Whether tracking the best Nifty 50 index fund benchmark or a broader index like the Nifty Midcap 150 or Nifty Smallcap 250, index funds provide instant diversification across dozens or hundreds of companies. This reduces the impact of any single stock's poor performance on the overall portfolio and spreads risk systematically across the market.

Consistent Benchmark-Aligned Returns

Index fund closely track the performance of the underlying benchmark. While active funds may outperform in certain phases and underperform in others, an index fund consistently delivers the benchmark return minus a small tracking error and expense ratio. For long-term investors, this reliability often compares favourably with the inconsistency of active fund performance.

Risks of Investing in Index Funds

No Downside Protection

Unlike active fund managers who can reduce equity exposure or shift to defensive stocks during a market downturn, an index fund must remain fully invested in its benchmark at all times. This means index fund returns align with the market during corrections, with no buffer from active decision-making.

Tracking Error

While index funds aim to replicate their benchmark precisely, small deviations known as tracking error can arise due to cash holdings, dividend reinvestment timing, and rebalancing delays. A higher tracking error means the fund's actual returns differ more from the index, reducing the core advantage of passive index fund investment.

Concentration in Index Heavyweights

Many indices, including those used by the best Nifty 50 index fund options, are market-cap weighted. This means the top few companies account for a disproportionately large share of the portfolio. If these dominant stocks underperform, the fund's overall returns are heavily affected even if smaller constituents do well. Higher Volatility in Midcap and Smallcap Indices Index funds tracking the Nifty Midcap 150 or Nifty Smallcap 250 carry significantly higher volatility than large-cap index funds. The underlying stocks in these segments are more sensitive to market sentiment, liquidity shifts, and economic cycles, which can lead to sharper short-term drawdowns despite strong long-term returns.

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Who Should Consider Index Funds?

First-Time Equity Investors

Index funds are widely considered one of the most accessible entry points into equity investing. With transparent portfolios, low costs, and returns that track well-known benchmarks, they remove the complexity of fund manager selection. Investors new to equities can start with the best Nifty 50 index fund options before exploring midcap or smallcap categories.

Cost-Conscious Long-Term Investors

Investors who are mindful of fees and want to maximise net index fund returns over a long horizon tend to favour index funds over actively managed alternatives. The lower expense ratio of a passive equity index fund compounds into a meaningful return advantage over investment periods of ten years or more.

Passive Strategy Followers

Investors who believe that markets are largely efficient and that active fund managers cannot consistently beat the benchmark after fees may prefer index fund investment as a core portfolio strategy. The growing body of data showing that actively managed funds struggle to outperform their benchmarks over long periods has strengthened the case for passive investing in India.

SIP Investors Building Long-Term Wealth

Index funds are well-suited for investors who want to build wealth through regular, automated contributions. An index fund SIP calculator makes it easy to estimate long-term corpus growth based on the historical returns of a chosen index fund benchmark. The discipline of rupee-cost averaging through a monthly SIP can smooth out the volatility of midcap and smallcap index funds over time.

Factors to Consider Before Investing in Index Funds

Choice of Benchmark Index

The most important decision in index fund investment is choosing the right benchmark. Large-cap indices like the Nifty 50 offer stability and are suitable for conservative long-term investors. Midcap and smallcap indices carry higher risk and return potential. Reviewing the top index funds in India across these categories and aligning the benchmark with your risk profile is the first step.

Tracking Error

A low tracking error indicates that the fund closely replicates the index. When comparing funds from the index fund list in the same category, such as two funds both tracking the Nifty Midcap 150, tracking error is one of the most reliable differentiators. The lower it is, the more efficiently the fund delivers the benchmark's index fund returns.

Expense Ratio

Even among passively managed funds, expense ratios vary. A small difference in expense ratio compounds significantly over a long investment horizon. When evaluating the index fund list for a specific benchmark, choosing the fund with the lowest expense ratio, all else being equal, directly improves your net index fund returns over time.

Fund House Reputation and AUM

A larger AUM in an index fund generally indicates lower impact costs during rebalancing, as the fund manager can execute trades more efficiently. Fund houses with strong operational processes and a track record of maintaining low tracking error across their equity index fund range are generally preferred choices for long-term investment.

Investment Horizon and Risk Appetite

Large-cap index funds such as those tracking the Nifty 50 are better suited for investors with a moderate risk appetite and a five-year-plus horizon. Midcap and smallcap index funds require a longer horizon of seven years or more, given their higher volatility. Using an index fund SIP calculator to model expected outcomes across different time frames helps set realistic expectations before investing.

Conclusion

Index funds in India offer a transparent, low-cost, and disciplined way to participate in equity markets across large-cap, midcap, and smallcap segments. Whether you are looking at the best Nifty 50 index fund for stable long-term index fund returns, or exploring the Nifty Midcap 150 and Nifty Smallcap 250 trackers for higher growth potential, the index fund list available today covers a wide range of investor needs. Understanding factors such as tracking error, expense ratio, benchmark choice, and investment horizon helps investors evaluate the top index funds in India more effectively. Investors can use the Tickertape Mutual Fund Screener to compare index fund returns, review the full index fund list by category, use the index fund SIP calculator for planning, and make more informed index fund investment decisions.

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Frequently Asked Questions About Index Funds

  1. What are index funds in India?

    Index funds in India are passively managed equity mutual funds that replicate the portfolio of a specific benchmark index, such as the Nifty 50, Nifty Midcap 150, or Nifty Smallcap 250. Rather than relying on active stock selection, an equity index fund holds the same securities in the same proportions as its benchmark, delivering returns that closely mirror the index's performance after a small expense ratio.

  2. Which index fund is best in India?

    As of 21st April 2025, some of the top index funds in India based on 5Y CAGR include: Motilal Oswal Nifty Midcap 150 Index Fund Aditya Birla SL Nifty Midcap 150 Index Fund Nippon India Nifty Midcap 150 Index Fund Motilal Oswal Nifty Smallcap 250 Index Fund Nippon India Nifty Smallcap 250 Index Fund

    Disclaimer: Please note that the index funds list is for educational purposes only, and is not recommendatory.

  3. How do index funds work?

    An index fund pools money from investors and uses it to buy all or most of the securities in its target benchmark index in proportion to their index weights. As the index composition changes due to periodic rebalancing or corporate actions, the fund adjusts its holdings accordingly. Index fund returns are generated through price appreciation of the underlying stocks and dividends received, minus the fund's expense ratio and any tracking error.

  4. Are index funds a safe investment?

    Index funds carry the same market risk as the equity segment they track. A Nifty 50 index fund will fall when the broader large-cap market falls, and a smallcap index fund will be more volatile. What index funds eliminate is manager-specific risk and the risk of significant underperformance due to poor stock selection. They are not risk-free, but their risks are transparent and benchmark-aligned.

    Disclaimer: Please note that this information is for educational purposes only, and is not recommendatory.

  5. Are index funds suitable for beginners?

    Index funds are widely regarded as one of the most suitable starting points for new investors. Their simple structure, low cost, and transparent portfolios make them easy to understand. Beginners can start with the best Nifty 50 index fund options for large-cap exposure and gradually explore midcap or smallcap index funds as their understanding of market cycles and risk tolerance develops.

    Disclaimer: Please note that this information is for educational purposes only, and is not recommendatory.

  6. How are index funds taxed in India?

    Index funds that track equity indices are taxed as equity mutual funds. Gains from units sold within 12 months are treated as Short-Term Capital Gains (STCG) and taxed at 20%. Gains from units held for more than 12 months are treated as Long-Term Capital Gains (LTCG) and taxed at 12.50%.

Disclaimer: This article is for informational purposes only. The content of the article including securities/investment products mentioned if any, should not in any manner be construed as an investment or financial advice.