ICICI Prudential Launches New Equal Weight Fund Offerings Based on Top 15 Nifty Stocks

ICICI Prudential introduces Nifty Top 15 Equal Weight ETF and Index Fund for balanced exposure to leading large-cap stocks.

ICICI Prudential Mutual Fund has launched two new schemes—ICICI Prudential Nifty Top 15 Equal Weight ETF and ICICI Prudential Nifty Top 15 Equal Weight Index Fund—offering investors exposure to India’s top 15 Large-Cap companies with an equal-weight strategy. The New Fund Offer (NFO) period runs from June 10 to June 24, 2025.

These funds replicate the Nifty Top 15 Equal Weight Index, which selects the top 15 stocks by free-float market capitalization from the Nifty 50 universe. Unlike market-cap-weighted indices, this index allocates equal weightage to each constituent, reducing overdependence on a few dominant stocks and enabling balanced sector participation. The index includes companies from financials, IT, FMCG, automobiles, and telecom, and is rebalanced quarterly and reconstituted semi-annually.

According to Abhijit Shah, Chief Marketing and Digital Business Officer at ICICI Prudential AMC, this approach offers a cost-effective, rules-based investment option that suits long-term investors seeking diversification and consistency.

The Nifty Top 15 Equal Weight TRI benchmark has historically outperformed the broader Nifty 50 TRI, especially during volatile periods, due to its equal-weighted methodology. As of May 29, 2025, the index trades below its 3-year average P/E ratio, indicating a potentially attractive valuation.

Scheme Details:

These offerings provide a structured pathway for investors to access equal-weighted exposure to India’s top-performing large-cap companies across sectors.

Disclaimer: The article is for informational purposes only and not investment advice.