Top Nifty Metal ETFs in India 2026

Metals quietly shape everything around us. From homes and highways to power plants and factories, growth depends on them. This is why interest in metal ETF in India has been steadily rising. But selecting which one to invest in can be hard.

This is why many investors now choose a Nifty Metal ETF. These are known for broad and balanced exposure. A metals ETF tracks the Nifty Metal Index. This represents India’s major steel, aluminium, and mining companies. This structure helps reduce company-specific risk and keeps investing straightforward.

But have you ever wondered which are the top ones to invest in? Well, then, explore the top Nifty Metal ETF list here.

What is a Nifty Metal ETF?

A Nifty Metal ETF is an exchange-traded fund that invests in companies forming the Nifty Metal Index. This index includes major Indian metal and mining companies across steel, aluminium, and other core metals. When you invest in this ETF, you gain exposure to the overall metal sector instead of relying on one or two stocks. The fund’s performance largely depends on metal prices, global demand, and infrastructure activity.

Key Features of Nifty Metal ETF

• Tracks the performance of the Nifty Metal Index.
• Allows investors to have exposure to leading metal and mining companies.
• Diversification across multiple metal stocks helps with better risk management.
• Trades on the stock exchange like a share, ensure transparency.
• Lower cost compared to actively managed funds helps to book better profits.
• Suitable for investors seeking sector-based exposure and new to this segment.

Pros and Cons of Nifty Metal ETF

A Nifty Metal ETF can work well during commodity upcycles and infrastructure-led growth phases. At the same time, it is important to understand the risks before investing. So, let us understand the pros and cons of the same.

Pros

• Easy exposure to the entire metal sector.
• Reduces risk compared to investing in single metal stocks.
• Benefits from rising metal prices and infrastructure spending.
• Transparent portfolio linked to a defined index.
• Low expense ratio compared to active sector funds.

Cons

• Highly cyclical and sensitive to global commodity prices and global GDP Growth.
• Can be volatile during economic slowdowns.
• No downside protection in falling metal cycles.
• Limited diversification outside the metal sector.
• Not ideal for conservative or short-term investors.

Read Also: Best Commodity ETFs in India

List of Top Nifty Metal ETFs in India

If you are planning to invest in a Nifty Metal ETF, knowing the available options matters. While all these ETFs track the same index, there are still some differences. And these are the points that you need to consider while investing.

The table below brings together the key details of leading Nifty Metal ETFs in India, making it easier to compare them at a glance and choose what suits your investment approach.

Name	NAV (INR)	AUM (INR Cr.)	Average Volume (1M)	52W High (INR)	52W Low (INR)	Expense Ratio (%)
ICICI Pru Nifty Metal ETF	12.27	1034	3,60,26,662	12.69	7.35	0.40
Mirae Asset Nifty Metal ETF	12.29	157	1,83,18,519	12.85	7.73	0.32
Groww Nifty Metal ETF	11.62	14	18,73,037	12.19	10.03	0.40

1. ICICI Pru Nifty Metal ETF

It is a sector-focused ETF. This is one that aims to mirror the performance of the Nifty Metal Total Return Index. The index consists of 15 leading Indian metal and mining companies. This makes it one of the ETFS that is not just prominent but also offers investors a straightforward way to participate in the metals cycle. All this is done with no need for selecting individual stocks.

The portfolio is dominated by some of the top companies in the industry, such as Tata Steel, Hindalco Industries, JSW Steel, Vedanta, and Adani Enterprises. All these companies together form a significant portion of the index. The fund follows a passive replication strategy. This means the stock weights are aligned with the index.

With a higher AUM and better liquidity compared to peers, this ETF is suitable for investors who plan to deploy larger amounts or trade more actively. It works best as an option for investors who are looking for equity exposure and want focused exposure to metals.

Return Details

1 Yr Returns	3 Yr Returns
42.77%	31.12%

2. Mirae Asset Nifty Metal ETF

This is also one of the ETFs that track the Nifty Metal Total Return Index. It also invests in the same set of 15 metal and mining companies. The portfolio composition closely mirrors the index. The ETF is one with the major exposure to Tata Steel, Hindalco, JSW Steel, Vedanta.

This ETF is designed for investors who want precise index tracking. This is one which focuses on minimal deviation. Mirae Asset’s version is often noted for maintaining a lower expense ratio. This is also well-known for its relatively low tracking error. This helps the returns to stay closer to the benchmark over time.

Although its AUM is smaller than ICICI’s offering, it appeals to cost-conscious investors is high. This is mainly through the SIPs or with moderate ticket sizes. It is better suited for long-term holding rather than frequent trading due to comparatively lower liquidity.

Return Details

1 Yr Returns	3 Yr Returns
41.03%	21.22%

3. Groww Nifty Metal ETF

This is one of the newest entrants in the field but has gained quite a traction. It tracks the Nifty Metal Index in the same manner as its peers. It provides exposure to the same basket of 15 companies, including Tata Steel, Hindalco Industries, JSW Steel and Vedanta.

The ETF was launched with a lower minimum investment. This makes it accessible to first-time or smaller retail investors. It follows a passive investment approach. Just like the other, this also aims to replicate index returns before expenses.

However, being relatively new, it currently has a much smaller AUM and lower trading volumes. This means investors should be mindful of liquidity. This is one which is not a good option for short runs, or if you plan to enter or exit frequently. It is more suitable for long-term investors who prefer a simple and low-entry way to participate in the metals theme rather than active traders.

Return Details

1 Yr Returns	3 Yr Returns
14.02%	–

Who Should Invest in Nifty Metal ETFs?

Nifty Metal ETFs are not for everyone. They suit investors who understand that metal stocks move in cycles and can be volatile in the short term. So, in short, this is a good option for investment for the following situations:

• Investors looking for sector-specific exposure to metal and mining companies.
• Those who already hold diversified equity funds and want a focused allocation.
• Investors with a long-term investment horizon of at least five years.
• Those comfortable with volatility linked to global metal prices and cycles.
• Investors who prefer passive investing over picking individual metal stocks.
• Investors aiming to benefit from infrastructure and manufacturing growth trends.

Read Also: Best Index ETFs in India

Conclusion

Nifty Metal ETFs offer a simple way to gain exposure to India’s metal and mining sector. By investing in these, you can gain all the benefits of this sector but with no need to follow the socks consistently. This is why you need to have access to correct information. 

Pocketful can help you with the process greatly. It is a platform that makes it easy to compare ETFs, place trades, and manage your investments from one place.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
1	Small-Cap ETFs to Invest in India
2	Best Energy ETFs in India
3	Best Silver ETFs in India
4	List of Best Gold ETFs in India
5	Best Debt ETFs to Invest in India

Frequently Asked Questions (FAQs)