Nifty CPSE Historical Returns
The Nifty CPSE index tracks large central public-sector enterprises (government-owned companies) and is the basis of the government's CPSE ETF. Figures come from the NAV of a fund that tracks it, so returns include dividends and are after fund costs.
Price history
Month-end values, on a log scale (equal distances are equal percentage changes). Hover a year-end point for its value.
About Nifty CPSE
The Nifty CPSE index tracks large central public-sector enterprises (government-owned companies) and is the basis of the government's CPSE ETF.
What it means for investors. These companies are concentrated in energy, power and mining, so the index reflects commodity cycles and government policy as much as the broad market.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty CPSE | −8.0% | 18.1% | 23.2% | n/a | n/a | n/a | −54% | 27 Oct 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far. Max fall: the largest fall from a previous peak over the whole history.
AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC. Proxy: CPSE ETF (total return after fund costs (proxy)). Data 7 Nov 2016 to 27 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Mutual funds linked to Nifty CPSE
MFIC groups that invest in this market, with medians for each group (medians across open-ended schemes, regular plans (etfs for etf categories), growth option, from amfi navs; NAVs as of 27 Oct 2026).
| Fund group | Link | Schemes | 1Y median | 3Y CAGR median | 5Y CAGR median | Ahead of benchmark TRI, 3Y |
|---|---|---|---|---|---|---|
| Equity ETF: Sector: PSU (ETFs) | Track this market | 6 | −7.9% | +15.6% | +20.6% | – |
| Index Fund: Sector: PSU | Track this market | 2 | −17.6% | n/a | n/a | – |
| Sectoral/Thematic: PSU | Main market of active funds | 5 | −5.6% | +17.0% | +18.3% | 0 of 4 |
Groups follow AMFI categories; theme groups are MFIC's own grouping from scheme names. "Ahead of benchmark TRI" compares each scheme's 3-year return with its own benchmark's total return index as published by AMFI; it is not shown for index funds and ETFs, which aim to match their index. Listed by how closely the group follows this market, not ranked. Open a group for every scheme in it.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 27 Oct | −4.9% |
| 2025 | 7.2% |
| 2024 | 28.0% |
| 2023 | 75.6% |
| 2022 | 28.0% |
| 2021 | 46.0% |
| 2020 | −13.5% |
| 2019 | −3.9% |
| 2018 | −19.0% |
| 2017 | 19.4% |
| 2016 part year | 1.4% |
Over 9 complete calendar years since 2017, Nifty CPSE rose in 6. Best: 2023 (+75.6%). Worst: 2018 (−19.0%).
Year-end to year-end, from AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC.
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Apr 2026 | Oct 2026 | −21.1% | 6 | not yet | — | — |
| Aug 2024 | Feb 2025 | −28.0% | 7 | Apr 2026 | 14 | — |
| Jun 2024 | Jun 2024 | −15.0% | <1 | Jul 2024 | 1 | General election results 2024 |
| Mar 2024 | Mar 2024 | −10.7% | <1 | Apr 2024 | 1 | — |
| Apr 2022 | Jul 2022 | −17.5% | 2 | Sep 2022 | 2 | RBI off-cycle rate hike |
| Oct 2021 | Dec 2021 | −12.2% | 2 | Jan 2022 | 1 | — |
| Jan 2018 | Mar 2020 | −54.1% | 26 | Oct 2021 | 19 | Union Budget 2018; NBFC sell-off; General election results 2019; Corporate tax cut; and 1 more |
| May 2017 | Jun 2017 | −15.1% | 2 | Oct 2017 | 4 | — |
Each fall of 10% or more from a previous high, measured on daily data. The 8 deepest are shown. “Back to peak” is the first date it regained the previous high.
Rolling returns: the range of outcomes
| Holding period | Periods | Median | Worst | Best | Middle half | Positive |
|---|---|---|---|---|---|---|
| 1 year | 108 | 13.9% | −41.0% | 118.5% | −4.9% to 40.3% | 65% |
| 3 years | 84 | 25.2% | −19.0% | 58.8% | 0.0% to 38.0% | 75% |
| 5 years | 60 | 25.9% | 2.8% | 42.1% | 6.0% to 34.0% | 100% |
Every holding period starting at a month-end in the history (overlapping). Annualised for periods over a year.
How it has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Nifty 50 | 0.61 | 119 |
| Gold (domestic, ₹) | −0.08 | 119 |
| 10-year G-Sec (bond fund) | −0.08 | 119 |
| USD/INR | −0.24 | 118 |
| Nifty Bank | 0.57 | 119 |
| Nifty PSU Bank | 0.67 | 119 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty CPSE and the Nifty 50, year by year
| Year | Nifty CPSE | Nifty 50 |
|---|---|---|
| 2026 to 27 Oct | −4.9% | −12.3% |
| 2025 | 7.2% | 11.6% |
| 2024 | 28.0% | 9.6% |
| 2023 | 75.6% | 20.9% |
| 2022 | 28.0% | 5.3% |
| 2021 | 46.0% | 25.2% |
| 2020 | −13.5% | 15.5% |
| 2019 | −3.9% | 13.2% |
| 2018 | −19.0% | 4.3% |
| 2017 | 19.4% | 29.7% |
| 2016 part year | 1.4% | 4.0% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty CPSE returned over the long run?
- Calculated from CPSE ETF, Nifty CPSE returned 23.2% a year over the 5 years to 27 Oct 2026, and 18.1% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty CPSE?
- In the data available from Nov 2016, the largest fall from a previous peak was −54.1%, from Jan 2018 to Mar 2020, and it regained the peak in Oct 2021 (19 months after the bottom). There were 8 falls of 10% or more, 3 of them 20% or more.
- How often has Nifty CPSE been positive over one year?
- Across 108 one-year periods starting at month-ends, 65% were positive; the range was −41.0% to 118.5%. Over five-year periods (60), 100% were positive, with annualised returns from 2.8% to 42.1%.
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