The Mirae Asset Nifty Bank ETF, managed by Mirae Asset Investment Managers, aims to replicate the Nifty Bank Total Return Index, operating as an open-ended passive investment scheme.

This ETF employs a replication strategy to track the Nifty Bank Index (TRI), ensuring close performance alignment with its benchmark through minimal tracking error of 0.02%.

The portfolio is heavily concentrated, with HDFC Bank and ICICI Bank comprising over 54% of total holdings, indicating potential concentration risk within the banking sector.

Over the past year, the fund has delivered a return of 2.1%, reflecting its alignment with the Nifty Bank Index's performance amid the prevailing market conditions.

With an AUM of ₹247.8 Cr and a low expense ratio of 0.1%, this ETF offers cost-efficient exposure to the banking sector, enhancing its appeal for investors.