India’s First EV and New Age Automotive ETF Drops Over 20% in 6 Months

Mirae Asset Mutual Fund introduced the Mirae Asset Nifty EV and New Age Automotive ETF in 2024, marking India’s first Exchange Traded Fund (ETF) dedicated to the Electric Vehicles (EV) and New Age Automotive sector. The fund aims to provide investors with long-term capital appreciation by investing in companies leading innovation in the evolving automotive landscape.

Performance Overview

Since its launch, the ETF has witnessed fluctuations in its Net Asset Value (NAV):

• 52-week high: ₹35.34 (September 2024)
• Current NAV (as of March 12, 2025): ₹25.95
• Six-month decline: 21.62%
• One-month decline: 6.66%

Portfolio Composition

The ETF invests exclusively in domestic equities, with a diversified allocation across market capitalisations:

• Large Cap: 47.38%
• Mid Cap: 19.02%
• Small Cap: 14.00%

Below are the top holdings of the fund along with their respective weights: 

Conclusion

The Mirae Asset Nifty EV and New Age Automotive ETF reflects the evolving automotive sector but has faced volatility, declining over 20% in six months. While the fund provides exposure to key industry leaders, market dynamics and sector trends continue to influence its performance. Investors should track industry developments and market conditions when evaluating such thematic ETFs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.