Nifty Infrastructure Historical Returns
The Nifty Infrastructure index tracks companies in power, telecom, construction, roads, ports and related industries. 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 Infrastructure
The Nifty Infrastructure index tracks companies in power, telecom, construction, roads, ports and related industries.
What it means for investors. Infrastructure is tied to government and private investment spending and to interest rates. Its history includes long periods of underperformance as well as sharp rallies.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty Infrastructure | −4.5% | 11.2% | 11.3% | n/a | n/a | n/a | −43% | 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: Nippon India ETF Nifty Infrastructure BeES (total return after fund costs (proxy)). Data 7 Nov 2016 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 | −10.2% |
| 2025 | 13.4% |
| 2024 | 15.5% |
| 2023 | 38.4% |
| 2022 | 6.3% |
| 2021 | 35.8% |
| 2020 | 12.9% |
| 2019 | 3.1% |
| 2018 | −12.0% |
| 2017 | 34.5% |
| 2016 part year | −2.4% |
Over 9 complete calendar years since 2017, Nifty Infrastructure rose in 8. Best: 2023 (+38.4%). Worst: 2018 (−12.0%).
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 |
|---|---|---|---|---|---|---|
| Jan 2026 | Mar 2026 | −12.3% | 3 | not yet | — | — |
| Sep 2024 | Feb 2025 | −20.9% | 5 | Jan 2026 | 10 | — |
| Jun 2024 | Jun 2024 | −10.6% | <1 | Jul 2024 | 1 | General election results 2024 |
| Jan 2022 | Jun 2022 | −16.5% | 5 | Sep 2022 | 3 | Russia–Ukraine war begins; RBI off-cycle rate hike |
| Nov 2021 | Dec 2021 | −10.7% | 1 | Jan 2022 | 1 | — |
| Jan 2018 | Mar 2020 | −42.5% | 27 | Dec 2020 | 9 | Union Budget 2018; NBFC sell-off; General election results 2019; Corporate tax cut; and 1 more |
Each fall of 10% or more from a previous high, measured on daily data. The 6 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 | 107 | 8.2% | −25.9% | 73.3% | 0.7% to 25.8% | 76% |
| 3 years | 83 | 18.7% | −8.1% | 29.3% | 12.0% to 23.0% | 89% |
| 5 years | 59 | 16.6% | 7.4% | 29.0% | 10.7% to 22.0% | 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 | 0.88 | 118 |
| Gold (domestic, ₹) | −0.10 | 118 |
| 10-year G-Sec (bond fund) | 0.17 | 118 |
| USD/INR | −0.46 | 118 |
| Nifty Bank | 0.77 | 118 |
| Nifty PSU Bank | 0.72 | 118 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty Infrastructure and the Nifty 50, year by year
| Year | Nifty Infrastructure | Nifty 50 |
|---|---|---|
| 2026 to 1 Oct | −10.2% | −13.6% |
| 2025 | 13.4% | 11.6% |
| 2024 | 15.5% | 9.6% |
| 2023 | 38.4% | 20.9% |
| 2022 | 6.3% | 5.3% |
| 2021 | 35.8% | 25.2% |
| 2020 | 12.9% | 15.5% |
| 2019 | 3.1% | 13.2% |
| 2018 | −12.0% | 4.3% |
| 2017 | 34.5% | 29.7% |
| 2016 part year | −2.4% | 4.0% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty Infrastructure returned over the long run?
- Calculated from Nippon India ETF Nifty Infrastructure BeES, Nifty Infrastructure returned 11.3% a year over the 5 years to 1 Oct 2026, and 11.2% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty Infrastructure?
- In the data available from Nov 2016, the largest fall from a previous peak was −42.5%, from Jan 2018 to Mar 2020, and it regained the peak in Dec 2020 (9 months after the bottom). There were 6 falls of 10% or more, 2 of them 20% or more.
- How often has Nifty Infrastructure been positive over one year?
- Across 107 one-year periods starting at month-ends, 76% were positive; the range was −25.9% to 73.3%. Over five-year periods (59), 100% were positive, with annualised returns from 7.4% to 29.0%.
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