The ICICI Prudential Nifty Metal ETF, managed by ICICI Prudential Asset Management Company, is an open-ended fund designed to replicate returns of the Nifty Metal Index with minimal tracking error.

This ETF employs a sector-specific investment strategy, primarily tracking the Nifty Metal TRI, focusing on diversified and ferrous metals, ensuring alignment with its benchmark.

With a total AUM of ₹152.9 Cr, the portfolio is heavily concentrated in ferrous metals, notably Tata Steel Ltd. and JSW Steel Ltd., posing potential concentration risks.

Over the past year, the fund has experienced a slight decline of -0.6%, with a low tracking error of 0.05%, indicating effective management relative to its benchmark.

The fund has an expense ratio of 0.4%, reflecting a competitive cost structure, while liquidity appears robust, supported by its listing on major exchanges.