One mutual fund for large-, mid-, small- and micro-cap exposure: How Nifty Total Market Index schemes fare on returns
Looking for one mutual fund scheme that covers almost the entire Indian equity market, including micro caps? Nifty Total Market Index funds offer investors a passive route to large-, mid-, small-, and micro-cap stocks within a single portfolio.
The Nifty Total Market Index tracks 750 stocks and includes all stocks that are part of the Nifty 500 and Nifty Microcap 250 indices. This gives investors exposure to large-, mid-, and small-cap companies that dominate traditional mutual fund categories, along with micro-cap stocks.
How has the benchmark of these index funds performed?
Since Nifty Total Market Index funds are relatively new, their fund-level performance history is limited. However, the historical performance of the underlying benchmark provides some context.
The broader market exposure has also translated into relatively better performance than the Nifty 50 over several periods. The Nifty Total Market TRI has fallen by 3.14% over the last 1 year, compared with a decline of 8.74% for the Nifty 50 TRI.
| Index | 1 Year | 3 Years | 5 Years | 10 Years |
| Nifty Total Market TRI | -3.14% | 9.49% | 9.28% | 12.87% |
| Nifty 50 TRI | -8.74% | 5.75% | 6.29% | 11.38% |
| Nifty 500 TRI | -3.80% | 9.16% | 8.89% | 12.66% |
*Source: NSE, CAGR as on 1 October 2026
Over three years, the Nifty Total Market TRI has delivered 9.49%, compared with 5.75% for the Nifty 50. Its five-year return stands at 9.28%, against 6.29% for the Nifty 50, while the 10-year return is 12.87%, compared with 11.38%.
The total market index has also remained ahead of the Nifty 500 TRI, the benchmark for flexi-cap funds, which invest across large-, mid-, and small-cap stocks.
However, these are index TRI (Total Return Index) returns, which include both capital gains and dividends from the underlying stocks.
Nifty Total Market Index funds seek to replicate the performance of the underlying index, but actual scheme returns can differ because of factors such as expenses and tracking error.
Which index funds track the Nifty Total Market Index?
| Mutual Fund Scheme | AUM (in Cr) | 1 Year Return |
| Groww Nifty Total Market Index Fund | ₹374 | -3.66% |
| Angel One Nifty Total Market Index Fund | ₹62 | -3.41% |
| Mirae Asset Nifty Total Market Index Fund | ₹52 | -3.44% |
| Bandhan Nifty Total Market Index Fund | ₹45 | -3.71% |
*Source: Value Research, Direct plans, AUM as on 31 August 2026, Returns as on 1 October 2026
Nifty Total Market Index funds have delivered negative returns over the 1-year period. Their one-year returns are currently in a relatively narrow range, with Angel One at -3.41%, Mirae Asset at -3.44%, Groww at -3.66%, and Bandhan at -3.71%.
However, a meaningful long-term performance comparison at the fund level is not yet available. In terms of assets under management (AUM), Groww Nifty Total Market Index was the largest among the four, with ₹374 crore.
For investors seeking broad equity exposure through a single passive fund, the category offers an alternative to combining multiple market-cap-specific funds. However, its performance will continue to depend on how the different segments of the Indian equity market perform.
Disclaimer: This is purely for educational/informational purposes and should not be taken as any sort of investment advice. Always consult a SEBI-registered advisor before making any investment decisions.
