Nifty Total Market Index schemes are gaining popularity among Indian investors seeking a single fund to cover large-, mid-, small- and micro-cap shares, with recent data showing promising returns compared to traditional benchmarks.
For investors who want one passive fund to cover most of the Indian equity market, Nifty Total Market Index schemes are emerging as a simple option. The benchmark is designed to span 750 stocks, combining the constituents of the Nifty 500 and Nifty Microcap 250 indices, and therefore reaches well beyond the large-cap universe that dominates many mainstream portfolios. In practical terms, that means a single fund can hold large-, mid-, small- and micro-cap shares rather than forcing an investor to stitch together several separate strategies.
The underlying index has also compared favourably with the Nifty 50 over recent periods. According to data from the National Stock Exchange, the Nifty Total Market TRI declined 3.14% over one year to 1 October 2026, versus an 8.74% fall in the Nifty 50 TRI. Over three years, the total market gauge returned 9.49%, ahead of 5.75% for the Nifty 50, while its five-year and 10-year annualised returns were 9.28% and 12.87%, compared with 6.29% and 11.38% for the Nifty 50. It also stayed ahead of the Nifty 500 TRI over the same periods, which matters because the Nifty 500 is often used as a broad reference point for flexi-cap investing.
That said, the fund category itself is still young, so scheme-level track records remain limited. LiveMint reported that four funds currently track the index: Groww Nifty Total Market Index Fund, Angel One Nifty Total Market Index Fund, Mirae Asset Nifty Total Market Index Fund and Bandhan Nifty Total Market Index Fund. On a one-year basis to 1 October 2026, their returns were clustered in a narrow band, ranging from -3.41% for Angel One to -3.71% for Bandhan, with Groww at -3.66% and Mirae Asset at -3.44%. Value Research and other fund data services also show that Groww was the largest of the group, with assets under management of ₹374 crore as of 31 August 2026, while Bandhan and Mirae Asset were much smaller.
Fund facts suggest the category is still settling in. Groww’s own fund page says its Nifty Total Market Index fund seeks to mirror the benchmark subject to tracking error and is rated very high risk, with minimum investments of ₹500 for both SIPs and lump sums. Bandhan’s fund page shows an allocation tilted towards large caps, followed by mid caps and small caps, which is typical for a total market strategy because the largest companies still dominate index weightings. Mirae Asset’s fund information likewise points to a very recent launch and a comparatively modest asset base. For investors, the appeal is clear: one vehicle, broad market coverage. But as with any index product, returns will still depend heavily on how the Indian market’s different segments perform, and on how closely the fund can track its benchmark after costs.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
