The Mirae Asset Nifty EV and New Age Automotive ETF, managed by Mirae Asset Investment Managers, aims to replicate the Nifty EV and New Age Automotive Total Return Index through passive investment strategies.

This ETF employs a tracking approach focused on the Nifty EV and New Age Automotive (TRI), ensuring minimal deviation from its benchmark performance with a tracking error of just 0.04%.

Top holdings include Tata Motors Ltd. at 8.3% and Maruti Suzuki India Ltd. at 8.0%, indicating a concentrated portfolio in the automotive sector, with over 47.9% in other equities.

In the past year, the fund's performance has shown a modest change of +2.1%, reflecting its alignment with the evolving electric vehicle market and industry trends.

With an AUM of ₹170.6 Cr and an expense ratio of 0.39%, the ETF offers efficient access to the growing automotive sector while maintaining cost-effectiveness for investors.