Angel One Nifty Total Market Index/ETF NFO review

Angel One Nifty Total Market Index Fund and ETF are the first products to be launched by Angel One Mutual Fund. Incorporated in May, 2023, Angel One's launching of these two schemes comes close on the heels of SEBI's regulatory restrictions impacting their broking revenues. Angel One's new fund and ETF opened for subscription on February 10, 2025, and will remain open to the public until February 21, 2025. Both Angel One Nifty Total Market Index Fund and ETF are passive funds, which means they will try to replicate the Nifty Total Market Index. Angel One Nifty Total Market Index/ETF NFO snapshot NFO period February 10 to February 21, 2025 Benchmark Nifty Total Market Index Fund manager(s) Mehul Dama & Kewal Shah Tax treatment If units are sold within a year, capital gains will be taxed at 20 per cent.If units are sold after a year, capital gains will be taxed at 12.5 per cent. However, gains of up to Rs 1.25 lakh are tax-exempt. About Nifty Total Market Index Since the Angel One schemes will track the Nifty Total Market Index, let's look at it in greater detail. The index consists of the top 750 stocks based on free-float market capitalisation, categorised as follows: Categorisation Number of stocks Weightage in Nifty Total Market Index (%) Weightage in Nifty 500 Index (%) Large-cap Top 100 stocks (1-100) 70.6 73.6 Mid-cap Next 150 stocks (101-250) 16.9 17.6 Small-cap Next 250 stocks (251-500) 9.3 8.7 Micro-cap Next 250 stocks (501-750) 3.0 - Basically, this index includes all the stocks from the Nifty 500 Index (1 to 500), plus the next 250 biggest stocks by market capitalisation. However, it's worth noting that SEBI does not officially categorise micro-cap stocks. The index undergoes rebalancing twice a year—once in January and again in July. On closer look, this index closely resembles the Nifty 500 index. Constituents and Sectoral weightage The top 10 stocks in Nifty Total Market Index and Nifty 500 have an almost identical weightage, as you can see below: Top 10 stocks of Nifty Total Market Index and Nifty 500 and their weightage Company's Name Nifty Total Market Index (%) Nifty 500 (%) HDFC Bank   7.0 7.3 ICICI Bank   4.8 5.0 Reliance Industries   4.7 4.8 Infosys   3.7 3.8 Bharti Airtel   2.4 2.5 Tata Consultancy Services   2.3 2.4 Larsen & Toubro   2.3 2.4 ITC   2.3 2.3 State Bank of India 1.6 1.7