Nifty Next 50 Historical Returns
The Nifty Next 50 holds the 50 companies ranked just below the Nifty 50 by size, the large companies that are not yet in the top 50. 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 Next 50
The Nifty Next 50 holds the 50 companies ranked just below the Nifty 50 by size, the large companies that are not yet in the top 50.
What it means for investors. It has usually been more volatile than the Nifty 50, with bigger rises and bigger falls. Its history shows the range of outcomes for the upper part of the market just below the largest companies.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty Next 50 | 1.4% | 15.2% | 10.2% | 11.7% | 13.8% | n/a | −42% | 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 Next 50 Index Fund (Regular, growth) (total return after fund costs (proxy)). Data 29 Jun 2010 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 | −0.4% |
| 2025 | 2.1% |
| 2024 | 27.2% |
| 2023 | 26.3% |
| 2022 | 0.1% |
| 2021 | 29.5% |
| 2020 | 14.3% |
| 2019 | 0.6% |
| 2018 | −8.8% |
| 2017 | 45.7% |
| 2016 | 7.6% |
| 2015 | 6.2% |
Over 15 complete calendar years since 2011, Nifty Next 50 rose in 13. Best: 2017 (+45.7%). Worst: 2011 (−30.8%).
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 | Feb 2025 | −26.8% | 5 | not yet | — | — |
| Sep 2022 | Mar 2023 | −18.7% | 6 | Sep 2023 | 5 | — |
| Oct 2021 | Jun 2022 | −20.5% | 8 | Sep 2022 | 3 | Russia–Ukraine war begins; RBI off-cycle rate hike |
| Jan 2018 | Mar 2020 | −41.6% | 26 | Dec 2020 | 9 | Union Budget 2018; NBFC sell-off; General election results 2019; Corporate tax cut; and 1 more |
| Oct 2016 | Dec 2016 | −13.7% | 2 | Feb 2017 | 1 | Demonetisation |
| Aug 2015 | Feb 2016 | −21.0% | 7 | Jul 2016 | 5 | Yuan devaluation |
| Nov 2010 | Dec 2011 | −37.8% | 13 | Apr 2014 | 27 | US credit rating downgrade |
Each fall of 10% or more from a previous high, measured on daily data. The 7 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 | 184 | 8.0% | −30.8% | 71.1% | −1.0% to 27.3% | 71% |
| 3 years | 160 | 16.2% | −5.5% | 29.9% | 10.9% to 19.5% | 93% |
| 5 years | 136 | 13.4% | 1.9% | 24.3% | 10.0% to 19.1% | 100% |
| 10 years | 76 | 13.6% | 7.7% | 17.4% | 12.5% to 15.1% | 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 | 195 |
| Gold (domestic, ₹) | −0.14 | 195 |
| 10-year G-Sec (bond fund) | 0.19 | 195 |
| USD/INR | −0.53 | 195 |
| BSE Sensex | 0.85 | 195 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Questions
- What has Nifty Next 50 returned over the long run?
- Calculated from ICICI Prudential Nifty Next 50 Index Fund (Regular, growth), Nifty Next 50 returned 11.7% a year over the 10 years to 1 Oct 2026, and 15.2% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty Next 50?
- In the data available from Jun 2010, the largest fall from a previous peak was −41.6%, from Jan 2018 to Mar 2020, and it regained the peak in Dec 2020 (9 months after the bottom). There were 7 falls of 10% or more, 5 of them 20% or more.
- How often has Nifty Next 50 been positive over one year?
- Across 184 one-year periods starting at month-ends, 71% were positive; the range was −30.8% to 71.1%. Over five-year periods (136), 100% were positive, with annualised returns from 1.9% to 24.3%.
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