Nifty FMCG Historical Returns
The Nifty FMCG index tracks makers of fast-moving consumer goods: food, personal care and household products. 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. Hover a year-end point for its value.
About Nifty FMCG
The Nifty FMCG index tracks makers of fast-moving consumer goods: food, personal care and household products.
What it means for investors. Consumer staples have usually been steadier than the market, with smaller falls, because people keep buying everyday goods in slowdowns. They have also lagged in strong rallies.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty FMCG | −19.9% | −4.0% | 3.1% | n/a | n/a | n/a | −32% | 1 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: ICICI Prudential Nifty FMCG ETF (total return after fund costs (proxy)). Data 6 Aug 2021 to 1 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 1 Oct | −20.6% |
| 2025 | −0.6% |
| 2024 | 1.3% |
| 2023 | 30.5% |
| 2022 | 19.8% |
| 2021 part year | 2.7% |
Over 4 complete calendar years since 2022, Nifty FMCG rose in 3. Best: 2023 (+30.5%). Worst: 2025 (−0.6%).
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 |
|---|---|---|---|---|---|---|
| Sep 2024 | Oct 2026 | −32.2% | 24 | not yet | — | US tariff announcement; RBI cuts repo rate by 0.50 |
| Sep 2021 | Mar 2022 | −18.4% | 5 | Jul 2022 | 4 | Russia–Ukraine war begins |
Each fall of 10% or more from a previous high, measured on daily data. The 2 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 | 50 | 11.5% | −18.0% | 40.0% | −3.1% to 21.1% | 68% |
| 3 years | 26 | 10.1% | −3.5% | 19.3% | 4.1% to 15.6% | 85% |
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 | 0.77 | 61 |
| Gold (domestic, ₹) | −0.14 | 61 |
| 10-year G-Sec (bond fund) | 0.40 | 61 |
| USD/INR | −0.31 | 61 |
| Nifty Bank | 0.59 | 61 |
| Nifty PSU Bank | 0.30 | 61 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty FMCG and the Nifty 50, year by year
| Year | Nifty FMCG | Nifty 50 |
|---|---|---|
| 2026 to 1 Oct | −20.6% | −13.6% |
| 2025 | −0.6% | 11.6% |
| 2024 | 1.3% | 9.6% |
| 2023 | 30.5% | 20.9% |
| 2022 | 19.8% | 5.3% |
| 2021 part year | 2.7% | 25.2% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty FMCG returned over the long run?
- Calculated from ICICI Prudential Nifty FMCG ETF, Nifty FMCG returned 3.1% a year over the 5 years to 1 Oct 2026, and −4.0% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty FMCG?
- In the data available from Aug 2021, the largest fall from a previous peak was −32.2%, from Sep 2024 to Oct 2026; it had not regained that peak by 1 Oct 2026. There were 2 falls of 10% or more, 1 of them 20% or more.
- How often has Nifty FMCG been positive over one year?
- Across 50 one-year periods starting at month-ends, 68% were positive; the range was −18.0% to 40.0%.
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