Best Index — Factor / Smart Beta Funds
Rules-based tilts — momentum, value, quality, low-vol — at index-fund cost.
Data updated · 55 direct-growth funds ranked by a transparent 0–100 Smart Score
55
Funds
4
Strong Buys
Very High
Risk
55 fundsSorted by Smart Score ↓
⚖Want to compare funds? Tick the checkbox in the first column — pick up to 5 and they'll go head-to-head in one view.
| ⚖ VS | Fund | Score ↓ | Verdict | 1Y | 3Y | 5Y | Sharpe | Sortino | Std Dev | Alpha | Beta | VR★ | P/E | Expense | AUM | Age |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Motilal Oswal BSE Enhanced Value Index Motilal Oswal | 86 | Strong Buy | 5.4% | 19.6% | — | — | — | — | — | — | — | 7.6 | 0.52% | ₹2.3k Cr | 4.1y | |
| UTI Nifty 500 Value 50 Index UTI | 78 | Strong Buy | 9.3% | 21.1% | — | 0.71 | 0.94 | 20.6 | 8.7 | 1.25 | — | 8.6 | 0.80% | ₹846 Cr | 3.4y | |
| Axis Nifty 500 Value 50 Index Axis | 78 | Strong Buy | 9.8% | — | — | — | — | — | — | — | — | 8.6 | 0.46% | ₹236 Cr | 1.9y | |
| HDFC BSE India SecTor Leaders Index HDFC | 78 | Strong Buy | — | — | — | — | — | — | — | — | — | 22.5 | 0.30% | ₹174 Cr | 0.9y | |
| Tata BSE Quality Index Tata | 71 | Buy | -2.9% | — | — | 0.27 | 0.39 | 13.9 | 0.5 | 0.90 | — | 23.6 | 0.41% | ₹57 Cr | 1.5y | |
| Motilal Oswal BSE Quality Index Motilal Oswal | 70 | Buy | -2.8% | 11.4% | — | — | — | — | — | — | — | 23.6 | 0.46% | ₹59 Cr | 4.1y | |
| Nippon India Nifty Alpha Low Volatility 30 Index Nippon India | 70 | Buy | -3.0% | 9.6% | — | 0.24 | 0.33 | 13.1 | -0.9 | 0.84 | — | 23.3 | 0.63% | ₹1.3k Cr | 4.1y | |
| UTI Nifty 200 Momentum 30 Index UTI | 67 | Buy | -2.0% | 10.2% | 9.5% | 0.19 | 0.26 | 19.7 | -2.2 | 1.26 | — | 22.4 | 1.00% | ₹8.5k Cr | 5.5y | |
| Bandhan Nifty Alpha 50 Index Bandhan | 67 | Buy | 7.6% | — | — | 0.36 | 0.48 | 22.2 | -1.0 | 1.37 | — | 18.2 | 0.67% | ₹629 Cr | 2.9y | |
| Axis Nifty 500 Quality 50 Index Axis | 65 | Buy | -2.9% | — | — | — | — | — | — | — | — | 22.7 | 0.34% | ₹80 Cr | 1.1y | |
| ICICI Pru Nifty 200 Value 30 Index ICICI Pru | 64 | Buy | 11.4% | — | — | — | — | — | — | — | — | — | 0.66% | ₹190 Cr | 1.9y | |
| Kotak Nifty 200 Momentum 30 Index Kotak | 62 | Buy | -2.0% | 10.0% | — | 0.18 | 0.24 | 19.6 | -2.4 | 1.25 | — | 22.4 | 0.90% | ₹601 Cr | 3.3y | |
| SBI Nifty 200 Quality 30 Index SBI | 62 | Buy | -6.9% | — | — | — | — | — | — | — | — | 24.1 | 0.45% | ₹327 Cr | 1.3y | |
| ABSL BSE 500 Quality 50 Index Aditya Birla Sun Life | 62 | Buy | -0.4% | — | — | -0.11 | -0.16 | 13.5 | 1.9 | 0.90 | — | 23.7 | 0.35% | ₹65 Cr | 1.2y | |
| Axis BSE India SecTors Leaders Index Axis | 61 | Hold | — | — | — | — | — | — | — | — | — | 22.5 | 0.29% | ₹31 Cr | 0.7y | |
| Motilal Oswal Nifty 200 Momentum 30 Index Motilal Oswal | 58 | Hold | -2.4% | 9.9% | — | 0.17 | 0.23 | 19.7 | -2.5 | 1.25 | — | 22.4 | 0.96% | ₹958 Cr | 4.6y | |
| Bandhan Nifty 100 Low Volatility 30 Index Bandhan | 57 | Hold | -6.0% | 8.5% | — | — | — | — | — | — | — | 22.0 | 0.46% | ₹1.6k Cr | 4.0y | |
| Kotak Nifty 100 Low Volatility 30 Index Kotak | 57 | Hold | -5.9% | — | — | -0.39 | -0.54 | 11.6 | -2.5 | 0.75 | — | 22.0 | 0.39% | ₹114 Cr | 2.3y | |
| ABSL BSE 500 Momentum 50 Index Aditya Birla Sun Life | 57 | Hold | 4.1% | — | — | 0.06 | 0.09 | 17.2 | 5.5 | 1.14 | — | 24.1 | 0.71% | ₹81 Cr | 1.2y | |
| ICICI Pru Nifty 200 Momentum 30 Index ICICI Pru | 56 | Hold | -2.2% | 9.8% | — | 0.17 | 0.23 | 19.6 | -2.6 | 1.25 | — | 22.4 | 0.91% | ₹568 Cr | 4.1y | |
| Kotak Nifty Alpha 50 Index Kotak | 55 | Hold | 7.5% | — | — | 0.10 | 0.14 | 18.8 | 8.5 | 1.24 | — | 18.2 | 0.84% | ₹49 Cr | 1.1y | |
| DSP Nifty Midcap 150 Quality 50 Index DSP | 54 | Hold | -3.9% | 8.3% | — | 0.12 | 0.16 | 15.4 | -2.8 | 0.98 | — | — | 0.50% | ₹434 Cr | 4.1y | |
| Bandhan BSE India SecTor Leaders Index Bandhan | 54 | Hold | — | — | — | — | — | — | — | — | — | 22.5 | 0.37% | ₹25 Cr | 1.0y | |
| Axis Nifty 500 Momentum 50 Index Axis | 53 | Hold | 3.7% | — | — | — | — | — | — | — | — | 26.2 | 0.77% | ₹180 Cr | 1.6y | |
| HDFC Nifty100 Quality 30 Index HDFC | 53 | Hold | -5.2% | — | — | -0.25 | -0.34 | 12.5 | -4.5 | 0.79 | — | 24.8 | 0.44% | ₹144 Cr | 1.6y | |
| HDFC Nifty100 Low Volatility 30 Index HDFC | 52 | Hold | -6.1% | — | — | -0.54 | -0.74 | 11.7 | -2.6 | 0.75 | — | 22.0 | 0.50% | ₹220 Cr | 2.2y | |
| Bandhan Nifty 500 Value 50 Index Bandhan | 52 | Hold | 9.3% | — | — | -0.04 | -0.05 | 17.5 | 3.0 | 1.08 | — | 8.6 | 0.69% | ₹36 Cr | 1.9y | |
| Edelweiss Nifty 100 Quality 30 Index Edelweiss | 51 | Hold | -5.1% | 7.5% | — | 0.08 | 0.11 | 12.5 | -2.4 | 0.77 | — | 24.8 | 0.61% | ₹119 Cr | 5.0y | |
| Tata Nifty 200 Alpha 30 Index Tata | 51 | Hold | 3.0% | — | — | — | — | — | — | — | — | — | 0.81% | ₹213 Cr | 2.0y | |
| Nippon India Nifty 500 Low Volatility 50 Index Nippon India | 51 | Hold | -4.5% | — | — | -0.19 | -0.27 | 11.4 | -1.4 | 0.79 | — | 19.0 | 0.67% | ₹27 Cr | 1.4y | |
| UTI BSE Low Volatility Index UTI | 50 | Hold | -8.4% | 6.5% | — | 0.00 | 0.00 | 11.4 | -3.3 | 0.71 | — | 21.8 | 0.50% | ₹453 Cr | 4.6y | |
| HDFC Nifty 200 Momentum 30 Index Dir HDFC | 50 | Hold | -2.3% | — | — | — | — | — | — | — | — | 22.4 | 0.93% | ₹609 Cr | 2.6y | |
| Edelweiss Nifty 500 MultiCap Momentum Quality 50 Index Edelweiss | 50 | Hold | -3.3% | — | — | — | — | — | — | — | — | — | 0.84% | ₹626 Cr | 1.9y | |
| Nippon India Nifty 500 Quality 50 Index Nippon India | 50 | Hold | -3.8% | — | — | -0.06 | -0.08 | 15.2 | 0.2 | 1.03 | — | 22.7 | 0.64% | ₹43 Cr | 1.4y | |
| UTI Nifty Midcap 150 Quality 50 Index UTI | 47 | Hold | -4.1% | 8.2% | — | 0.11 | 0.15 | 15.5 | -2.9 | 0.98 | — | — | 0.69% | ₹270 Cr | 4.4y | |
| SBI Nifty 100 Low Volatility 30 Index SBI | 46 | Hold | -6.1% | — | — | — | — | — | — | — | — | 22.0 | 0.49% | ₹57 Cr | 1.2y | |
| Bandhan Nifty 200 Momentum 30 Index Bandhan | 41 | Avoid | -2.3% | 9.6% | — | — | — | — | — | — | — | 22.4 | 1.00% | ₹123 Cr | 4.1y | |
| Bandhan Nifty Alpha Low Volatility 30 Index Bandhan | 39 | Avoid | -3.0% | — | — | -0.45 | -0.62 | 12.8 | -7.1 | 0.84 | — | 23.3 | 0.60% | ₹9 Cr | 1.7y | |
| Nippon India Nifty 500 Momentum 50 Index Nippon India | 36 | Avoid | 4.2% | — | — | -0.70 | -0.94 | 20.5 | -4.3 | 1.30 | — | 26.2 | 0.76% | ₹1.3k Cr | 2.0y | |
| ICICI Pru Nifty 200 Quality 30 Index ICICI Pru | 36 | Avoid | -7.0% | — | — | — | — | — | — | — | — | — | 0.50% | ₹26 Cr | 1.3y | |
| Nippon India Nifty 50 Value 20 Index Nippon India | 35 | Avoid | -10.8% | 4.0% | 6.5% | -0.19 | -0.26 | 13.2 | -6.3 | 0.81 | — | 13.9 | 0.56% | ₹816 Cr | 5.6y | |
| Edelweiss Nifty Alpha Low Volatility 30 Index Edelweiss | 35 | Avoid | -3.0% | — | — | -0.56 | -0.75 | 13.4 | -6.3 | 0.84 | — | 23.3 | 0.71% | ₹92 Cr | 2.3y | |
| SBI Nifty 200 Momentum 30 Index SBI | 35 | Avoid | -2.3% | — | — | — | — | — | — | — | — | 22.4 | 1.07% | ₹119 Cr | 1.2y | |
| Kotak Nifty 200 Quality 30 Index Kotak | 35 | Avoid | -6.8% | — | — | -0.79 | -1.04 | 13.0 | -5.0 | 0.84 | — | 24.1 | 0.37% | ₹18 Cr | 1.2y | |
| ICICI Pru Nifty50 Value 20 Index ICICI Pru | 34 | Avoid | -10.7% | — | — | -0.55 | -0.75 | 13.3 | -8.2 | 0.80 | — | 13.9 | 0.57% | ₹99 Cr | 2.6y | |
| Motilal Oswal Nifty 500 Momentum 50 Index Motilal Oswal | 31 | Avoid | 3.2% | — | — | -0.70 | -0.94 | 20.5 | -4.5 | 1.30 | — | 26.2 | 0.97% | ₹827 Cr | 2.0y | |
| UTI Nifty Alpha Low Volatility 30 Index UTI | 30 | Avoid | -3.1% | — | — | -0.80 | -1.07 | 12.8 | -6.1 | 0.84 | — | 23.3 | 0.85% | ₹70 Cr | 1.8y | |
| UTI Nifty 200 Quality 30 Index UTI | 28 | Avoid | -7.0% | — | — | -1.02 | -1.37 | 13.7 | -7.3 | 0.85 | — | 24.1 | 0.66% | ₹553 Cr | 2.0y | |
| Motilal Oswal BSE Low Volatility Index Motilal Oswal | 27 | Avoid | -8.4% | 6.4% | — | — | — | — | — | — | — | 21.8 | 0.50% | ₹67 Cr | 4.5y | |
| Bandhan Nifty 200 Quality 30 Index Bandhan | 24 | Avoid | -6.9% | — | — | -0.80 | -1.07 | 13.6 | -7.1 | 0.85 | — | 24.1 | 0.52% | ₹14 Cr | 1.8y | |
| Bandhan Nifty 500 Momentum 50 Index Bandhan | 23 | Avoid | 3.4% | — | — | -0.56 | -0.75 | 20.0 | -6.8 | 1.28 | — | 26.2 | 0.96% | ₹37 Cr | 1.9y | |
| Kotak Nifty 500 Momentum 50 Index Kotak | 19 | Avoid | — | — | — | — | — | — | — | — | — | 26.2 | 0.90% | ₹26 Cr | 0.8y | |
| Baroda BNP Paribas Nifty 200 Momentum 30 Index Baroda BNP Paribas | 18 | Avoid | -2.6% | — | — | — | — | — | — | — | — | — | 1.19% | ₹22 Cr | 1.9y | |
| Kotak Nifty 200 Value 30 Index Kotak | 4 | Avoid | — | — | — | — | — | — | — | — | — | 22.4 | 1.21% | ₹13 Cr | 0.7y | |
| Kotak Nifty Alpha Low Volatility 30 Index Kotak | 1 | Avoid | — | — | — | — | — | — | — | — | — | 23.3 | 1.95% | ₹7 Cr | 0.2y |
Reading the ratios: ↑ higher is better — Returns, Sharpe, Sortino, Alpha · ↓ lower is better — Std Dev, P/E, Expense · Beta ≈1 moves with the market (<1 swings less). Hover any column header for details.
Index — Factor / Smart Beta funds — quick answers
›Which is the best Index — Factor / Smart Beta mutual fund right now?
Motilal Oswal BSE Enhanced Value Index currently ranks #1 of 55 Index — Factor / Smart Beta funds with a FundLens Smart Score of 86/100 (Strong Buy). It returned 19.6% over 3 years at a 0.52% expense ratio (direct plan). Rankings are recomputed from data updated 20 Sept 2026.
›Which Index — Factor / Smart Beta fund has the best risk-adjusted returns?
UTI Nifty 500 Value 50 Index leads the category on the Sortino ratio at 0.94 (Sharpe 0.71) — meaning it has delivered the most return per unit of downside risk among Index — Factor / Smart Beta funds.
›Which Index — Factor / Smart Beta fund has the lowest expense ratio?
Axis BSE India SecTors Leaders Index charges 0.29% a year (direct plan) — the lowest in the category. Lower fees compound in your favour over long holding periods.
›Which is the smallest Index — Factor / Smart Beta fund by AUM?
Kotak Nifty Alpha Low Volatility 30 Index manages ₹7 Cr, the smallest in the category. Smaller funds can be nimbler, but check track record and costs before treating size alone as an edge.
›How long should I stay invested in a Index — Factor / Smart Beta fund?
Index — Factor / Smart Beta funds carry very high risk, so a horizon of 7+ years is generally sensible. Rules-based tilts — momentum, value, quality, low-vol — at index-fund cost. This is research, not investment advice.
Want these answers conversationally? Ask FundLens · New to the ratios? Sharpe vs Sortino, explained