Which S&P BSE 500 index fund or ETF has the lowest tracking error?

Based on the latest monthly AMC factsheets, HDFC BSE 500 ETF has the lowest annualized tracking error at 0.02%, compared to the S&P BSE 500 category average tracking error of 0.04%.

Which S&P BSE 500 passive fund has the lowest expense ratio (TER)?

HDFC BSE 500 ETF currently offers the lowest direct Total Expense Ratio (TER) at 0.30%, versus the S&P BSE 500 category average TER of 0.33%.

How many passive mutual funds and ETFs track S&P BSE 500 in India?

There are 3 passive schemes tracking S&P BSE 500 with a combined category AUM of ₹743 Crores. The largest scheme by assets is ICICI Prudential BSE 500 ETF with an AUM of ₹360 Crores.

What is Tracking Error in passive mutual funds and ETFs?

Tracking Error (TE) is the annualized standard deviation of daily excess returns between a passive index fund or ETF and its benchmark index (such as Nifty 50 or Sensex). It measures how consistently the fund replicates the index day-to-day. Lower tracking error signifies tighter replication and disciplined cash drag management.

What is the difference between Tracking Error and Tracking Difference?

Tracking Difference is the actual percentage of returns you lose compared to the index over a time period (Index Return minus Fund Return). It already includes the expense ratio and cash drag. Tracking Error, on the other hand, measures the day-to-day volatility or bumpiness of that return gap.

How does Total Expense Ratio (TER) affect index fund performance?

The Total Expense Ratio (TER) is the recurring annual fee charged by the AMC, deducted daily from the fund's NAV. A higher TER creates a continuous drag on compounding returns, directly widening the fund's tracking difference over long investment horizons.

What metrics can I track historically on this screener?

You can track historical timelines of Tracking Error (%), Total Expense Ratio (TER %), Assets Under Management (AUM in ₹ Crores), Yield to Maturity (YTM %), Average Maturity, and Modified Duration across 6-month, 1-year, 2-year, and 3-year time horizons.

How often are passive fund metrics updated on ProFinPlanner?

All scheme metrics are sourced directly from monthly AMC factsheets and updated once a month as soon as factsheets are released by asset management companies.

EQUITY BENCHMARK • 3 PASSIVE SCHEMES

S&P BSE 500 Index Funds & ETFs — Key Metrics

Compare all passive mutual funds and ETFs tracking S&P BSE 500 by live tracking error, direct expense ratio (TER), and AUM.

Data sourced from AMC Factsheets • Updated monthly for 300+ Indian Index Funds & ETFs

Select Asset Class165 Equity indices

📈 Equity ⚖️ Hybrid 🏦 Debt / Fixed Income 🪙 Commodities

Popular Benchmarks:

Nifty 50 Nifty Next 50 BSE Sensex Nifty Midcap 150 Domestic Gold 5-Yr G-Sec Debt

Select Equity Benchmark Index

Instrument Filter

Mutual FundsETFs

Data Freshness2026-07-31

All FundsAll past dates included

Historical Window (Max 3Y)

Active Index Funds / ETFs

Tracking S&P BSE 500

Category Avg. Expense Ratio

0.33%

Avg Direct Plan TER

Lowest Expense Ratio

0.30%

HDFC BSE 500 ETF

Highest AUM

₹360.27 Cr

ICICI Prudential BSE 500 ETF

Lowest Tracking Error

0.0200%

HDFC BSE 500 ETF

S&P BSE 500 — Key Insights & Category Highlights

Auto-Generated from AMC Factsheets

Category Leaders & Highlights

Lowest Tracking Error: HDFC BSE 500 ETF leads with 0.02% annualized tracking error (category average is 0.04%).
Lowest Cost Leader: HDFC BSE 500 ETF charges the lowest direct expense ratio (TER) at 0.30% vs category average of 0.33%.
Category Scale: ₹743 Cr combined AUM across 3 schemes (1 Index Funds, 2 ETFs), led by ICICI Prudential BSE 500 ETF (₹360 Cr).

Selection Checklist & Watchouts

Narrow Fee Dispersion: Expense ratios across S&P BSE 500 schemes cluster tightly between 0.30% and 0.37%.
Execution Note: For ETFs tracking S&P BSE 500, always check live iNAV and exchange bid-ask spreads in addition to AMC factsheet tracking error.

Historical Metric:

Historical Tracking Error Comparison (%)Tracking Error (%)

Time-series comparison for S&P BSE 500 (2023-10-22 to 2026-10-22)

Fetching historical time-series for S&P BSE 500...

Category Average Line

Showing 3 of 3 funds

Fund Lines (3)

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HDFC BSE 500 ETF

HDFC BSE 500 Index Fund

ICICI Prudential BSE 500 ETF

S&P BSE 500 — Fund Directory & Metrics Breakdown

Comprehensive snapshot of Tracking Error (%), TER (%), AUM, and debt indicators for S&P BSE 500. Click headers to sort.


HDFC BSE 500 ETF	ETF	Very High	0.0200%	0.30%	₹59.50 Cr	2026-07-31
ICICI Prudential BSE 500 ETF	ETF	Very High	0.0300%	0.33%	₹360.27 Cr	2026-07-31
HDFC BSE 500 Index Fund	Mutual Fund	Very High	0.0600%	0.37%	₹323.20 Cr	2026-07-31

Note: Data is sourced from AMC Factsheets and updated monthly. Past date funds reflect previous reporting cycles.

Use the Data Freshness toggle at the top to display only funds with the latest data.

Peer Equity Benchmark Indices

All Passive FundsEquity BenchmarksS&P BSE 500

165 Equity Benchmarks

NIFTY 50(48)NIFTY NEXT 50(31)NIFTY BANK(21)S&P BSE SENSEX(28)NIFTY MIDCAP 150(24)NIFTY IT(17)BSE SENSEX(24)NIFTY SMALLCAP 250(17)NIFTY 200 - MOMENTUM 30(12)NIFTY 50 EQUAL WEIGHT(12)NIFTY 100(9)NIFTY INDIA CONSUMPTION(7)NIFTY PRIVATE BANK(10)NIFTY 100 Low Volatility 30(7)NIFTY 50 Value 20(6)NIFTY 200 QUALITY 30(9)NIFTY PSU BANK(9)NIFTY Large Midcap 250(7)NIFTY Healthcare(5)NIFTY Auto(5)NIFTY Midcap 150 Quality 50(4)NIFTY 500(6)NIFTY Alpha Low Volatility 30(6)Nifty India Manufacturing(6)S&P BSE 500(3)

Evaluation Methodology: Tracking Error, Expense Ratio & Debt Metrics

Tracking Error (SEBI Formula)

Calculated as the annualized standard deviation of daily excess returns: TE = √250 × σ(R_fund − R_index). Lower tracking error signifies tighter replication discipline and minimal cash drag.

Total Expense Ratio (TER) & AUM

A lower TER directly mitigates return drag over compounding horizons. Higher AUM funds generally feature tighter bid-ask spreads on exchange order books and robust secondary market liquidity.

YTM & Modified Duration (Debt)

Yield to Maturity (YTM) indicates gross portfolio yield if securities are held to maturity. Modified duration gauges sensitivity to RBI repo rate changes—shorter duration reduces capital volatility.

Data Sourcing & Update Schedule: All scheme metrics are sourced directly from AMC Factsheets and updated once a month based on the availability and release schedules of factsheets from various AMCs.

Missing Data: Metrics where — is displayed indicate data missing in the AMC's factsheet or that the factsheet itself has not yet been published for the recent month.

Frequently Asked Questions

S&P BSE 500 Category Summary & Statistics

S&P BSE 500 — Key Insights & Category Highlights

S&P BSE 500 Historical Tracking Error & TER Comparison Chart

S&P BSE 500 — Fund Directory & Metrics Breakdown

Peer Equity Benchmark Indices

Evaluation Methodology: Tracking Error, Expense Ratio & Debt Metrics

Frequently Asked Questions on S&P BSE 500 Passive Funds

Which S&P BSE 500 index fund or ETF has the lowest tracking error?

Which S&P BSE 500 passive fund has the lowest expense ratio (TER)?

How many passive mutual funds and ETFs track S&P BSE 500 in India?

What is Tracking Error in passive mutual funds and ETFs?

What is the difference between Tracking Error and Tracking Difference?

How does Total Expense Ratio (TER) affect index fund performance?

What metrics can I track historically on this screener?

How often are passive fund metrics updated on ProFinPlanner?