Introduction:

Index funds replicate the performance of a benchmark index. These funds invest in the same securities and in a similar composition as the index they follow. Index mutual funds follow a passive investment strategy with no active buying and selling. There are several ways to assess the performance of an index fund, with Assets Under Management (AUM) being just one of them.

Let’s find out the top index funds by AUM in 2024.

Top index funds in 2024

Here are 10 options you can consider if you are looking to invest in index funds:

1.  Motilal Oswal S&P 500 Index Fund

If you are looking to diversify internationally, the Motilal Oswal S&P 500 Index Fund offers a great opportunity. With an AUM of ₹ 3,390.98 crore and an expense ratio of 0.62%, this fund tracks the S&P 500 index. It has delivered an impressive average annual return of 15.90% since its inception, making it a great choice for gaining exposure to the U.S. market.

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2.  HDFC Index Fund - Nifty 50 Plan

If you value the reputation of a strong asset management company, the HDFC Index Fund - Nifty 50 Plan is a great option. It also tracks the Nifty 50 index and has an AUM of ₹ 16,592.31 crore. Though its expense ratio is slightly higher at 0.36%, it has delivered an average annual return of 12.81% since inception.

3.  ICICI Prudential Nifty 50 Index Fund

If you prefer a fund with strong performance, you can consider the ICICI Prudential Nifty 50 Index Fund. It tracks the Nifty 50 index and has an AUM of ₹ 9,800.42 crore. With an expense ratio of 0.35%, it has achieved an average annual return of 14.74% since its inception.

4.  SBI Nifty Index Fund

The SBI Nifty Index Fund offers a competitive option if you want to invest in the Nifty 50 index. It has an AUM of ₹ 7,940.91 crore and a low expense ratio of 0.20%. Since its inception, it has provided an average annual return of 12.35%, making it an attractive choice.

5.  UTI Nifty 50 Index Fund

The UTI Nifty 50 Index Fund stands out as the mutual fund with the highest AUM. It allows you to invest in some of India’s largest companies. It tracks the Nifty 50 index, which includes 50 top stocks on the National Stock Exchange (NSE). With an AUM of ₹ 18,345.17 crore and a low expense ratio of 0.18%, the fund has provided an annual return of 12.67%.

6.  HDFC Index Fund - S&P BSE Sensex Plan

For exposure to the top 30 companies on the Bombay Stock Exchange (BSE), the HDFC Index Fund - S&P BSE Sensex Plan could be ideal. With an AUM of ₹ 7,365.30 crore, this fund has an expense ratio of 0.20% and has delivered an average annual return of 13.11% since inception.

7.  UTI Nifty200 Momentum 30 Index Fund

If you are interested in higher growth potential, the UTI Nifty200 Momentum 30 Index Fund tracks the Nifty 200 index can make for a good choice. With an AUM of ₹ 6,971.45 crore and an expense ratio of 0.46%, it has delivered an average annual return of 19.74% since inception.

8.  ICICI Prudential Nifty Next 50 Index Fund

The ICICI Prudential Nifty Next 50 Index Fund is a viable choice for exposure to emerging large-cap stocks. It has an AUM of ₹ 5,844.95 crore and tracks the Nifty Next 50 index. With an expense ratio of 0.30%, it has maintained an average annual return of 10.99% since its inception.

9.  UTI Nifty Next 50 Index Fund

The UTI Nifty Next 50 Index Fund could be a suitable option if you are interested in the Nifty Next 50 index. It has an AUM of ₹ 4,359.78 crore and an expense ratio of 0.34%. This fund has delivered a Compounded Annual Growth Rate (CAGR) of 16.68% since inception, showcasing strong performance.

10. Navi Nifty 50 Index Fund - Direct Plan – Growth

For a highly cost-effective choice, consider the Navi Nifty 50 Index Fund - Direct Plan - Growth. With an AUM of ₹ 2,141.72 crore, it has the lowest expense ratio among the listed funds at just 0.06%. Despite its higher risk profile, it has achieved a notable annual return of 15.96% since its launch.

To sum it up

While a high AUM can indicate strong investor confidence in a mutual fund, it is not the only measure of a fund’s performance. It is wise to consider other factors such as the risk profile, fund manager, returns, and portfolio composition to ensure you choose a top index fund for your needs.

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