HDFC Nifty 100 Equal Weight Index Fund - Direct Plan - Growth Option

HDFC Nifty 100 Equal Weight Index Fund - Direct Plan - Growth Option ranks among the stronger performers in the Index Funds category, backed by a 4-star rating. Consistent 3-year performance combined with a strong rating makes this one of the more credible options in its space. TopFund's composite Health Score, which weighs rating, 3-year CAGR, expense ratio and fund size, puts it at 87/100.

Cost: At 0.42%, the expense ratio is roughly in line with the Index Funds category average of 0.4% — cost isn't a standout factor either way for this fund.

Risk-adjusted performance: Over the trailing 1-year period, the fund shows a negative Sharpe ratio of -0.13 — over the past year, returns haven't kept pace with the volatility involved, even before accounting for the risk-free rate. Separately, annualised volatility of 15.43% is fairly typical for actively managed equity funds.

Who should invest: This fund is best suited to cost-conscious investors happy to simply match the market rather than try to beat it. The High risk rating means near-term volatility should be expected — this isn't a fund to check daily.