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 in an open-ended structure.

This thematic fund employs a tracking strategy focused on the Nifty EV and New Age Automotive TRI, ensuring alignment with the index's performance through minimal tracking error of 0.04%.

The portfolio is heavily concentrated in equities, with top holdings like Maruti Suzuki and Bajaj Auto, cumulatively accounting for 17.1% of the fund, indicating potential concentration risk.

Over the past year, the fund has experienced a decline of 12.98%, reflecting the volatility in the automotive sector, while longer-term performance metrics remain unavailable.

With an AUM of ₹171.7 Cr and a low expense ratio of 0.39%, this ETF offers cost-efficient access to the growing electric vehicle market, listed on major exchanges for liquidity.