Mirae Asset Nifty India Manufacturing ETF FOF
FoF Domestic · Mirae Asset Investment Managers (India) Pvt. Ltd
Among the 470 funds in its category, this one has grown money faster than most. ₹1 lakh invested 3 years ago would be about ₹1.6 lakh today. Investing ₹10,000 every month for the last 3 years would have put in ₹3.7 lakh and grown it to about ₹4.3 lakh. Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹76,990. Expect meaningful ups and downs on the way.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.Mirae Asset Nifty India Manufacturing ETF FOF is a FoF Domestic fund from Mirae Asset Investment Managers (India) Pvt. Ltd. It has a track record of about 4.6 years. As of the latest data it carries an RS rating of 30/99 (its recent momentum versus category peers) and a King Score of 56/100 (a long-term quality composite). The current NAV is ₹19.98 (as of 2026-09-16).
Growth of ₹100 - last 5 years
Mirae Asset Nifty India Manufacturing ETF FOF returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -5.59% | -1.68% |
| 3 months | -1.72% | -0.37% |
| 6 months | 5.08% | 2.56% |
| 1 year | 4.64% | 18.46% |
| 3 years (CAGR) | 16.23% | 18.94% |
Its trailing one-year return is 4.64%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | Mirae Asset Nifty Indi | Benchmark |
|---|---|---|
| 2023 | +33.8% | +25.8% |
| 2024 | +24.8% | +15.2% |
| 2025 | +11.8% | +6.7% |
| 2026 | +1.8% | -5.8% |
Mirae Asset Nifty India Manufacturing ETF FOF beat its benchmark in 4 of the last 4 calendar years. That is a strong hit-rate - most active funds fail to clear their index this often. Consistency against the benchmark matters more than any single great year.
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in Mirae Asset Nifty India Manufacturing ETF FOF would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹430,294 | 10.05% |
Over 3 years, ₹370,000 invested in monthly instalments would have grown to about ₹430,294 - an XIRR of 10.05%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -23.01% | -18.66% |
| Worst drawdown (3Y) | -23.01% | -15.66% |
| Volatility (1Y) | 18.9% | 23.47% |
| Sharpe (3Y) | 0.57 | 0.59 |
| Sortino (3Y) | 0.97 | 1.3 |
| Beta (3Y) | 1.08 | 0.39 |
| Alpha (3Y) | 7.69% | 12.5% |
| Up capture | 115.2% | 61.1% |
| Down capture | 97.6% | 21.88% |
| Bull-market return | 36.4% | 31.51% |
| Bear-market return | -28.3% | -5.21% |
Timing matters more than people admit: the best possible 1-year stretch in Mirae Asset Nifty India Manufacturing ETF FOF (starting 2023-05-25) gained 63.3%, while the worst (starting 2024-08-01) lost 7.2%. The worst peak-to-bottom fall Mirae Asset Nifty India Manufacturing ETF FOF has ever put investors through is -23.01% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -28.3% annualised, versus 36.4% in rising markets. It has captured roughly 115.2% of its benchmark's up-moves and 97.6% of its down-moves.
How Mirae Asset Nifty India Manufacturing ETF FOF behaves when markets fall
When the market is falling (the Nifty below its 200-day average), Mirae Asset Nifty India Manufacturing ETF FOF has historically returned about -28.3% annualised, versus roughly 36.4% when the market is rising. Its deepest fall on record is -23.01%. Right now it sits about 6.03% below its all-time high (last hit 2026-08-07). The real question isn't the average year - it's whether you could hold on through the worst one.
How Mirae Asset Nifty India Manufacturing ETF FOF ranks in its category
Percentile versus its ~470 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
| Measure | Value |
|---|---|
| Median 3Y rolling CAGR | 21.82% |
| 3Y windows positive | 100.0% |
| Worst 3Y window | 15.19% |
Instead of one lucky start date, rolling returns test every start date. Across all 3-year windows in its history, Mirae Asset Nifty India Manufacturing ETF FOF returned a median of 21.82% a year, and 100.0% of those windows were positive.
Who manages Mirae Asset Nifty India Manufacturing ETF FOF - and how good are they?
Mirae Asset Nifty India Manufacturing ETF FOF is managed by Ekta Gala and Vishal Singh. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Ekta Gala's full record
Ekta Gala currently runs 16 funds, across FoF Domestic, Index Funds, with about ₹4,732 Cr under management. The book's average King Score is 47.0/100. Their strongest fund by King Score is Mirae Asset S&P 500 Top 50 ETF Fund of Fund (62/100); Mirae Asset Nifty India Manufacturing ETF FOF ranks #3 of 16 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mirae Asset S&P 500 Top 50 ETF Fund of Fund | 98 | 62 | 20.9% | 41.3% | 43.1% | 41.9% | n/a | n/a | 1.23 | 30.6% | -29.9% |
| 2 | Mirae Asset NYSE FANG + ETF Fund of Fund | 99 | 61 | 21.9% | 47.1% | 40.6% | 53.5% | 34.0% | n/a | 1.69 | 46.2% | -43.7% |
| 3 | Mirae Asset Nifty India Manufacturing ETF FOF (this page) | 30 | 56 | -1.7% | 5.1% | 4.6% | 16.2% | n/a | n/a | 0.57 | 21.8% | -23.0% |
| 4 | Mirae AssetHang Seng TECH ETF Fund of Fund | 2 | 32 | -6.2% | -7.0% | -19.9% | 13.3% | n/a | n/a | 0.19 | 17.5% | -47.8% |
| 5 | Mirae Asset Nifty 100 ESG Sector Leaders Fund of Fund | 4 | 24 | -2.1% | -1.1% | -7.7% | 6.5% | 5.5% | n/a | -0.0 | 13.1% | -17.9% |
| 6 | Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund | 74 | n/a | 4.7% | 19.0% | 3.9% | n/a | n/a | n/a | -0.21 | n/a | -30.7% |
| 7 | Mirae Asset BSE Select IPO ETF Fund of Fund | 71 | n/a | 7.5% | 15.4% | -5.0% | n/a | n/a | n/a | 0.09 | n/a | -24.3% |
| 8 | Mirae Asset Nifty India New Age Consumption ETF Fund of Fund | 64 | n/a | 3.9% | 10.8% | -5.2% | n/a | n/a | n/a | -0.45 | n/a | -21.9% |
| 9 | Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund | 42 | n/a | -1.4% | 10.3% | 2.5% | n/a | n/a | n/a | -0.25 | n/a | -26.0% |
| 10 | Mirae Asset Nifty Total Market Index Fund | 41 | n/a | -0.9% | 4.2% | -1.8% | n/a | n/a | n/a | -0.39 | n/a | -15.2% |
| 11 | Mirae Asset Nifty LargeMidcap 250 Index Fund | 40 | n/a | -1.5% | 4.0% | -0.6% | n/a | n/a | n/a | -0.27 | n/a | -15.5% |
| 12 | Mirae Asset Nifty200 Alpha 30 ETF Fund of Fund | 28 | n/a | -1.4% | 7.5% | 1.1% | n/a | n/a | n/a | -0.58 | n/a | -30.1% |
| 13 | Mirae Asset BSE 200 Equal Weight ETF Fund of Fund | 24 | n/a | -1.0% | 5.3% | 1.5% | n/a | n/a | n/a | 0.1 | n/a | -13.4% |
| 14 | Mirae Asset Nifty 50 Index Fund | 14 | n/a | -2.2% | -1.7% | -6.7% | n/a | n/a | n/a | -0.52 | n/a | -15.1% |
| 15 | Mirae Asset BSE India Defence ETF FOF | n/a | n/a | 0.9% | 15.3% | n/a | n/a | n/a | n/a | n/a | n/a | -14.5% |
| 16 | Mirae Asset Nifty Metal ETF FOF | n/a | n/a | -2.7% | 10.0% | n/a | n/a | n/a | n/a | n/a | n/a | -9.8% |
Vishal Singh's full record
Vishal Singh currently runs 5 funds, across FoF Domestic, with about ₹292 Cr under management. The book's average King Score is 40.0/100. This fund is the highest-scored fund they run (King 56/100).
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mirae Asset Nifty India Manufacturing ETF FOF (this page) | 30 | 56 | -1.7% | 5.1% | 4.6% | 16.2% | n/a | n/a | 0.57 | 21.8% | -23.0% |
| 2 | Mirae Asset Nifty 100 ESG Sector Leaders Fund of Fund | 4 | 24 | -2.1% | -1.1% | -7.7% | 6.5% | 5.5% | n/a | -0.0 | 13.1% | -17.9% |
| 3 | Mirae Asset BSE Select IPO ETF Fund of Fund | 71 | n/a | 7.5% | 15.4% | -5.0% | n/a | n/a | n/a | 0.09 | n/a | -24.3% |
| 4 | Mirae Asset Nifty India New Age Consumption ETF Fund of Fund | 64 | n/a | 3.9% | 10.8% | -5.2% | n/a | n/a | n/a | -0.45 | n/a | -21.9% |
| 5 | Mirae Asset BSE India Defence ETF FOF | n/a | n/a | 0.9% | 15.3% | n/a | n/a | n/a | n/a | n/a | n/a | -14.5% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.42% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹5000 |
| Fund size (AUM) | ₹120 Cr |
| Age | 4.6 years |
| Plan / Option | Direct · Growth |
| Benchmark | NIFTY500 |
How Mirae Asset Nifty India Manufacturing ETF FOF compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| UTI Gold ETF Fund of Fund | 88 | 82 | 36.0% |
| Motilal Oswal Gold and Silver Passive Fund of Funds(Direct ) | 88 | 78 | 37.9% |
| LIC MF Gold ETF Fund of Fund | 74 | 78 | 35.5% |
| Edelweiss Gold and Silver ETF FOF | 88 | 77 | 40.5% |
| Nippon India Multi - Asset Omni FoF | 63 | 76 | 15.7% |
| Axis Silver Fund of Fund | 94 | 73 | 45.3% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
Mirae Asset Nifty India Manufacturing ETF FOF review: the bottom line
Related
Frequently asked questions
Is Mirae Asset Nifty India Manufacturing ETF FOF a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, Mirae Asset Nifty India Manufacturing ETF FOF scores 56/100 on our King Score and RS 30/99 within its category, has compounded 16.23% a year over three years, and its worst drawdown was -23.01%. Compare those against your needs and the peer table above.
What is the NAV of Mirae Asset Nifty India Manufacturing ETF FOF today?
The latest NAV is ₹19.98 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the expense ratio of Mirae Asset Nifty India Manufacturing ETF FOF?
The Direct-plan expense ratio is 0.42% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of Mirae Asset Nifty India Manufacturing ETF FOF?
Mirae Asset Nifty India Manufacturing ETF FOF is managed by Ekta Gala; Vishal Singh.
Is Mirae Asset Nifty India Manufacturing ETF FOF safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -23.01% - ₹1 lakh briefly becoming about ₹76,990. As a index & fof, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is Mirae Asset Nifty India Manufacturing ETF FOF good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 3 years grew ₹3.7 lakh into about ₹4.3 lakh (XIRR 10.05%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of Mirae Asset Nifty India Manufacturing ETF FOF?
A ₹10,000/month SIP over 3 years would have grown to about ₹430,294 (an XIRR of 10.05%) on ₹370,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does Mirae Asset Nifty India Manufacturing ETF FOF rank among similar funds?
On 3-year returns it sits around the 76th percentile of its category, and its consistency ranks 39th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is Mirae Asset Nifty India Manufacturing ETF FOF tax-efficient / what about capital gains?
As a index & fof, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See Mirae Asset Nifty India Manufacturing ETF FOF live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.