The ICICI Prudential Nifty Metal ETF, managed by ICICI Prudential Asset Management Company Limited, aims to replicate the Nifty Metal Index's returns, focusing on sector-specific investments.

This ETF employs a tracking strategy targeting the Nifty Metal TRI, ensuring minimal tracking error of just 0.04%, thereby aligning closely with its benchmark.

The portfolio is heavily concentrated in the metals sector, with top holdings like Tata Steel Ltd. at 19.39% and Hindalco Industries Ltd. at 15.33%, presenting concentration risk.

In the past year, the fund has delivered impressive returns of 13.8%, highlighting its performance consistency within the sector despite the absence of longer-term CAGR data.

With an AUM of ₹179.5 Cr and a low expense ratio of 0.4%, the fund is accessible, supported by experienced managers Nishit Patel and Ashwini Bharucha.