Markets
Nifty100 Low Volatility 30
Nifty100 Low Volatility 30 is an NSE strategy and factor index of 30 stocks. Since 2005 it has compounded 16.4% a year with dividends reinvested; over the past year it fell 6.8%. Its deepest fall was 49%, from Jan 2008 to Oct 2008, and it took 21 months from that high to a new one.
Written for anyone who holds, tracks or is thinking of buying Nifty100 Low Volatility 30. Data to 14 Oct 2026.
- Trend
- Downtrend since Sep 2026
- Momentum
- 109th of 133 markets, by rank
- Below its high
- 11.7% total return
- P/E
- 23.6 33rd percentile
- 1 year
- −6.8% total return
- 5 years
- 7.6% a year
- 10 years
- 12.4% a year
- Since 2005
- 16.4% a year
- Volatility
- 12.5% past year; usual 13%
NSE launched Nifty100 Low Volatility 30 in Jul 2016. Figures before that use NSE's back-calculated history: today's rules applied to the past, chosen with that past in view. Charts mark the launch.
Returns
Total return counts dividends reinvested; price return does not. Since 2005, dividends added about 1.8 percentage points a year. Returns over more than a year are a year, compounded.
Nifty100 Low Volatility 30: growth of 100
Weekly, from Apr 2005, log scale: equal slopes are equal rates of growth. Drag the range below the chart to start anywhere; both lines restart at 100.
How to read it. The gap between the two lines is what dividends were worth. It widens slowly and never closes.
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To 14 Oct 2026. Before any fund cost or tax.
| Period | Total return | Price return | Dividends added | More |
|---|---|---|---|---|
| 1 month | −3.7% | −3.7% | 0.0 pts | |
| 3 months | −6.0% | −6.3% | +0.3 pts | |
| 6 months | −2.7% | −3.5% | +0.8 pts | |
| This year | −10.6% | −11.5% | +0.9 pts | |
| 1 year | −6.8% | −7.8% | +1.0 pts | |
| 3 years, a year | +8.6% | +7.3% | +1.3 pts | |
| 5 years, a year | +7.6% | +6.2% | +1.4 pts | |
| 10 years, a year | +12.4% | +10.7% | +1.7 pts | |
| 15 years, a year | +13.9% | +12.2% | +1.8 pts | |
| 20 years, a year | +13.7% | +11.9% | +1.8 pts | |
| Since Apr 2005, a year | +16.4% | +14.6% | +1.8 pts |
Year by year
18 of the 20 full calendar years since 2006 ended higher. 10 of them had a fall of 10% or more from a peak somewhere inside the year, so even good years are rarely smooth.
Nifty100 Low Volatility 30: each calendar year
The worst fall is the largest drop from a peak within the year, with the previous year-end as the first peak (the convention of J.P. Morgan's Guide to the Markets). Total return, %.
| Year | Total return | Price return | Dividends | Worst fall in the year | More |
|---|---|---|---|---|---|
| 2026 so far | −10.6% | −11.5% | +0.9 pts | −14.2% | |
| 2025 | +11.5% | +10.1% | +1.3 pts | −9.6% | |
| 2024 | +12.4% | +11.1% | +1.3 pts | −13.0% | |
| 2023 | +31.9% | +30.5% | +1.4 pts | −5.4% | |
| 2022 | +2.0% | +0.1% | +1.9 pts | −13.7% | |
| 2021 | +24.2% | +21.6% | +2.6 pts | −8.7% | |
| 2020 | +24.3% | +22.1% | +2.2 pts | −30.6% | |
| 2019 | +5.2% | +3.6% | +1.7 pts | −7.9% | |
| 2018 | +7.4% | +5.5% | +1.9 pts | −12.5% | |
| 2017 | +30.3% | +28.2% | +2.1 pts | −3.7% | |
| 2016 | +3.1% | +1.4% | +1.7 pts | −12.8% | |
| 2015 | +9.8% | +8.1% | +1.7 pts | −9.6% | |
| 2014 | +36.8% | +34.8% | +2.0 pts | −6.4% | |
| 2013 | +6.6% | +4.9% | +1.6 pts | −15.0% | |
| 2012 | +32.1% | +29.8% | +2.3 pts | −7.5% | |
| 2011 | −12.0% | −13.3% | +1.3 pts | −13.8% | |
| 2010 | +25.5% | +23.5% | +2.0 pts | −6.6% | |
| 2009 | +92.9% | +89.8% | +3.1 pts | −8.2% | |
| 2008 | −42.3% | −43.3% | +1.0 pts | −48.7% | |
| 2007 | +31.5% | +29.5% | +2.1 pts | −14.7% | |
| 2006 | +43.3% | +41.2% | +2.1 pts | −32.0% |
The falls
Every fall of 10% or more from a high, deepest first. The worst, 49%, took 10 months to reach bottom and 11 months more to climb back. Today it is 11.7% below its high.
Nifty100 Low Volatility 30: how far below its previous high
Weekly, the week's lowest close against the highest close before it, total return, %.
How to read it. Zero is a new high. The depth of each dip is what a holder sat through; its width is how long getting back took.
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Total return, closing prices. A fall ends when the index closes at or above the high it fell from. Calendar time.
| Fall | From the high of | To the low of | Falling for | Recovering for | Back at the high | High to high |
|---|---|---|---|---|---|---|
| −48.7% | 2 Jan 2008 | 27 Oct 2008 | 10 months | 11 months | 22 Sept 2009 | 21 months |
| −32.0% | 10 May 2006 | 14 Jun 2006 | 35 days | 5 months | 6 Nov 2006 | 6 months |
| −30.6% | 17 Jan 2020 | 23 Mar 2020 | 2 months | 5 months | 10 Aug 2020 | 7 months |
| −18.1% | 27 Sept 2024 | 4 Mar 2025 | 5 months | +8% off the low | not yet | 19 months since the low |
| −15.2% | 18 Oct 2021 | 17 Jun 2022 | 8 months | 5 months | 29 Nov 2022 | 13 months |
| −15.0% | 17 May 2013 | 28 Aug 2013 | 3 months | 4 months | 1 Jan 2014 | 8 months |
| −14.8% | 9 Nov 2010 | 20 Dec 2011 | 13 months | 3 months | 14 Mar 2012 | 16 months |
| −14.7% | 7 Feb 2007 | 5 Mar 2007 | 26 days | 3 months | 1 Jun 2007 | 4 months |
| −13.3% | 6 Aug 2015 | 29 Feb 2016 | 7 months | 3 months | 30 May 2016 | 10 months |
| −12.8% | 8 Sept 2016 | 26 Dec 2016 | 4 months | 3 months | 14 Mar 2017 | 6 months |
What holding it was like
From every day in its history, what holding Nifty100 Low Volatility 30 for a fixed span would have returned a year. Over five years the middle outcome was 15.8% a year; the worst 2.2% and the best 28.1%; no five-year span lost money.
Total return a year, %, over every span of that length starting on any session. Spans overlap, so 'separate spans' is how many non-overlapping ones the history holds: the longer the span, the fewer truly independent readings behind each figure.
| Held for | Worst | 1 in 10 worse than | Middle | 1 in 10 better than | Best | Spans that lost | Separate spans |
|---|---|---|---|---|---|---|---|
| 1 year | −43.6% | −1.9% | +14.3% | +44.3% | +110.3% | 12% | 21.5 |
| 3 years | −4.1% | +9.0% | +15.5% | +22.3% | +38.7% | 1% | 7.2 |
| 5 years | +2.2% | +11.2% | +15.8% | +21.2% | +28.1% | 0% | 4.3 |
| 7 years | +8.8% | +13.1% | +15.0% | +18.3% | +25.9% | 0% | 3.1 |
| 10 years | +9.4% | +13.3% | +15.1% | +18.3% | +22.7% | 0% | 2.2 |
Rolling returns, a year
Weekly: the return a year over the 3 and 5 years to each date, total return, %.
How to read it. Each point is what someone who bought 3 or 5 years earlier had earned a year by then. The lows mark the worst times to have bought.
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₹10,000 on the first session of every month into the index itself, from January of each year to 14 Oct 2026. Before any fund cost or tax; an index fund would have returned a little less. Of SIPs that ran five years or more, the weakest started in 2021 (+8.0% a year).
| Started in January | Months | Put in | Worth now | Multiple | Return a year (XIRR) | More |
|---|---|---|---|---|---|---|
| 2025 | 22 | ₹2,20,000 | ₹2,11,066 | 0.96× | −4.5% | |
| 2024 | 34 | ₹3,40,000 | ₹3,33,085 | 0.98× | −1.5% | |
| 2023 | 46 | ₹4,60,000 | ₹4,98,571 | 1.08× | +4.3% | |
| 2022 | 58 | ₹5,80,000 | ₹6,81,801 | 1.18× | +6.8% | |
| 2021 | 70 | ₹7,00,000 | ₹8,82,576 | 1.26× | +8.0% | |
| 2020 | 82 | ₹8,20,000 | ₹11,70,520 | 1.43× | +10.4% | |
| 2019 | 94 | ₹9,40,000 | ₹14,58,196 | 1.55× | +11.1% | |
| 2018 | 106 | ₹10,60,000 | ₹17,60,737 | 1.66× | +11.3% | |
| 2017 | 118 | ₹11,80,000 | ₹21,16,583 | 1.79× | +11.6% | |
| 2016 | 130 | ₹13,00,000 | ₹25,27,866 | 1.94× | +11.8% | |
| 2015 | 142 | ₹14,20,000 | ₹29,64,316 | 2.09× | +11.9% | |
| 2014 | 154 | ₹15,40,000 | ₹35,10,420 | 2.28× | +12.2% | |
| 2013 | 166 | ₹16,60,000 | ₹41,85,929 | 2.52× | +12.5% | |
| 2012 | 178 | ₹17,80,000 | ₹49,60,391 | 2.79× | +12.8% | |
| 2011 | 190 | ₹19,00,000 | ₹57,95,169 | 3.05× | +13.0% | |
| 2010 | 202 | ₹20,20,000 | ₹67,06,363 | 3.32× | +13.0% | |
| 2009 | 214 | ₹21,40,000 | ₹81,21,851 | 3.80× | +13.5% | |
| 2008 | 226 | ₹22,60,000 | ₹95,54,363 | 4.23× | +13.7% | |
| 2007 | 238 | ₹23,80,000 | ₹1,09,49,686 | 4.60× | +13.7% | |
| 2006 | 250 | ₹25,00,000 | ₹1,26,84,845 | 5.07× | +13.7% |
How bumpy
Volatility is how widely daily returns swing, scaled to a year. Over the past year it was 12.5%, against a usual 13.2% for this index. 64% of months ended higher, and 93 days moved 3% or more either way.
Nifty100 Low Volatility 30: volatility over the past year
Weekly: standard deviation of daily total returns over the past 252 sessions, annualised, %.
How to read it. Spikes come with sell-offs; calm stretches come with rising markets. High readings rarely last.
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| Worst days | Return |
|---|---|
| 23 Mar 2020 | −10.4% |
| 24 Oct 2008 | −8.9% |
| 21 Jan 2008 | −7.6% |
| 12 Mar 2020 | −7.0% |
| 18 May 2006 | −7.0% |
| Best days | Return |
|---|---|
| 18 May 2009 | +13.4% |
| 7 Apr 2020 | +8.0% |
| 15 Jun 2006 | +7.2% |
| 20 Mar 2020 | +6.5% |
| 9 Jun 2006 | +6.3% |
| Worst months | Return |
|---|---|
| Oct 2008 | −21.8% |
| Jan 2008 | −16.4% |
| May 2006 | −15.6% |
| Mar 2020 | −14.5% |
| Jun 2008 | −13.3% |
| Best months | Return |
|---|---|
| May 2009 | +17.8% |
| Nov 2005 | +16.1% |
| Jul 2009 | +13.6% |
| Apr 2020 | +12.7% |
| Mar 2006 | +11.1% |
Valuation
NSE's own price-to-earnings, price-to-book and dividend yield, at each month-end since Aug 2026. Today's P/E of 23.6 is in the middle of its range since NSE moved to consolidated earnings in March 2021. Price to book, 3.58, is in the middle of its range over the full history.
Price to earnings
Month-ends, as NSE publishes them.
How to read it. Higher is dearer. Before March 2021 NSE used standalone earnings, so readings on either side of the line are not strictly comparable.
Price to earnings. Line chart, Aug 2026 to Oct 2026. Price to earnings: latest 23.6×, range 23.6× to 25.0×.
Price to book
Month-ends, as NSE publishes them.
How to read it. Higher is dearer. Book value has no accounting break, so the whole history compares.
Price to book. Line chart, Aug 2026 to Oct 2026. Price to book: latest 3.58×, range 3.58× to 3.98×.
Today is 14 Oct 2026; the history is month-ends. A percentile is the share of month-ends at or below today's reading: 90 means dearer than nine months in ten (for dividend yield, the reverse).
| Today | Percentile, full history | Last 10 years | Since March 2021 | Median | Low | High | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 23.58 | 33 | – | – | 23.71 | 23.58 | 24.96 |
| Price to book | 3.58 | 33 | – | – | 3.60 | 3.58 | 3.98 |
| Dividend yield, % | 1.55 | 100 | – | – | 1.30 | 1.26 | 1.55 |
What it holds
30 stocks as NSE lists them today. The ten largest make up 36.9% of the index. It is weighted by volatility based weighting and rebalanced quarterly.
Sector weights
NSE's factsheet, 30 Sept 2026. % of the index.
How to read it. Sectors as NSE classifies them. A sector index of one industry has no split to show.
Sector weights. Bar chart of 12 items. Weight, %: highest Financial Services at 23.9%, lowest Construction at 2.9%.
NSE's factsheet, 30 Sept 2026. NSE publishes the weights of the ten largest members only.
| Largest holdings | Weight | |
|---|---|---|
| 1 | ICICI Bank Ltd. | 3.84% |
| 2 | Sun Pharmaceutical Industries Ltd. | 3.82% |
| 3 | Apollo Hospitals Enterprise Ltd. | 3.81% |
| 4 | NTPC Ltd. | 3.79% |
| 5 | Britannia Industries Ltd. | 3.68% |
| 6 | Bharti Airtel Ltd. | 3.65% |
| 7 | Kotak Mahindra Bank Ltd. | 3.63% |
| 8 | SBI Life Insurance Company Ltd. | 3.62% |
| 9 | Nestle India Ltd. | 3.53% |
| 10 | ITC Ltd. | 3.50% |
NSE's constituent list for Nifty100 Low Volatility 30, as seen on 14 Oct 2026. NSE changes members at each rebalance.
| Member | Industry | NSE symbol | More |
|---|---|---|---|
| Apollo Hospitals Enterprise Ltd. | Healthcare | APOLLOHOSP | |
| Asian Paints Ltd. | Consumer Durables | ASIANPAINT | |
| Bajaj Auto Ltd. | Automobile and Auto Components | BAJAJ-AUTO | |
| Bajaj Finserv Ltd. | Financial Services | BAJAJFINSV | |
| Bharti Airtel Ltd. | Telecommunication | BHARTIARTL | |
| Britannia Industries Ltd. | Fast Moving Consumer Goods | BRITANNIA | |
| Cipla Ltd. | Healthcare | CIPLA | |
| Dr. Reddy's Laboratories Ltd. | Healthcare | DRREDDY | |
| HDFC Bank Ltd. | Financial Services | HDFCBANK | |
| HDFC Life Insurance Company Ltd. | Financial Services | HDFCLIFE | |
| Hindustan Unilever Ltd. | Fast Moving Consumer Goods | HINDUNILVR | |
| ICICI Bank Ltd. | Financial Services | ICICIBANK | |
| ITC Ltd. | Fast Moving Consumer Goods | ITC | |
| Kotak Mahindra Bank Ltd. | Financial Services | KOTAKBANK | |
| Larsen & Toubro Ltd. | Construction | LT | |
| Maruti Suzuki India Ltd. | Automobile and Auto Components | MARUTI | |
| NTPC Ltd. | Power | NTPC | |
| Nestle India Ltd. | Fast Moving Consumer Goods | NESTLEIND | |
| Pidilite Industries Ltd. | Chemicals | PIDILITIND | |
| Power Grid Corporation of India Ltd. | Power | POWERGRID | |
| Reliance Industries Ltd. | Oil Gas & Consumable Fuels | RELIANCE | |
| SBI Life Insurance Company Ltd. | Financial Services | SBILIFE | |
| State Bank of India | Financial Services | SBIN | |
| Sun Pharmaceutical Industries Ltd. | Healthcare | SUNPHARMA | |
| Tata Consultancy Services Ltd. | Information Technology | TCS | |
| Tata Power Co. Ltd. | Power | TATAPOWER | |
| Titan Company Ltd. | Consumer Durables | TITAN | |
| Torrent Pharmaceuticals Ltd. | Healthcare | TORNTPHARM | |
| UltraTech Cement Ltd. | Construction Materials | ULTRACEMCO | |
| Wipro Ltd. | Information Technology | WIPRO |
Against the Nifty 500
How Nifty100 Low Volatility 30 has done against the broad market it is part of. Over 21 years it beat the Nifty 500 by 2.6 percentage points a year, and was ahead in 11 of 20 calendar years.
Relative strength
Weekly: Nifty100 Low Volatility 30's total return divided by the Nifty 500's, 100 at the start of the range shown.
How to read it. Rising: Nifty100 Low Volatility 30 is outrunning the Nifty 500. Falling: it is lagging. The level means nothing; the direction is the reading.
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Three-year lead or lag
Weekly: Nifty100 Low Volatility 30's return a year over the past three years minus the Nifty 500's, percentage points.
How to read it. Above zero, someone who bought three years earlier was ahead of the broad index; below, behind.
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Monthly total returns. Up capture: how much of the Nifty 500's gain in its rising months this index caught (100 is all of it); down capture: the same for falling months. Beta above 1 means bigger swings than the Nifty 500.
| Ahead by, a year | Up capture | Down capture | Beta | Correlation | Tracking error | |
|---|---|---|---|---|---|---|
| Full history, from May 2005 | +2.6 pts | 86 | 68 | 0.76 | 0.93 | 8.5% |
| Last 5 years, from Oct 2021 | −0.9 pts | 82 | 78 | 0.85 | 0.91 | 6.1% |
Models and ETFs
2 Tipsheet models can hold Nifty100 Low Volatility 30; none does today. 4 ETFs track it. Its trend and momentum have a page of their own.
Model holdings on 14 Oct 2026. Rule-based models, not advice; each page has the rule and its record after costs and tax.
| Model | Weight in Nifty100 Low Volatility 30 today |
|---|---|
| Factor rotation | 0% |
| Factor rotation (factors counted from launch) | 0% |
From the ETF desk. Tracking difference: what a holder buying and selling on the exchange got, minus the index's total return, over the past year. Tracking error: how much that gap wobbled week to week.
| ETF | NSE symbol | Expense ratio | Assets | Tracking difference, 1 year | Tracking error, 1 year | Daily traded value (median) | More |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Nifty 100 Low Volatility 30 ETF | LOWVOLIETF | 0.36% | ₹3,400 cr | −1.15 pts | 1.81% | ₹3.6 cr | |
| Kotak Nifty 100 Low Volatility 30 ETF | LOWVOL1 | 0.11% | ₹278 cr | +0.06 pts | 4.84% | ₹0.8 cr | |
| Mirae Asset Nifty 100 Low Volatility 30 ETF | LOWVOL | 0.30% | ₹44.3 cr | −0.37 pts | 2.19% | ₹0.0 cr | |
| HDFC NIFTY100 Low Volatility 30 ETF - Growth Option | HDFCLOWVOL | 0.25% | ₹12.9 cr | −0.27 pts | 4.00% | ₹0.0 cr |
Data and sources
Nifty100 Low Volatility 30 is computed and published by NSE Indices. History here starts 1 Apr 2005; NSE launched the index on 8 Jul 2016, from a base date of April 01, 2005. All returns are on NSE's total-return index unless marked as price return.
Historical index data. NSE publishes daily index values, total-return values and P/E, P/B and dividend yield for every index on niftyindices.com: historical data. Pick Nifty100 Low Volatility 30 there to download its full series.
- Nifty100 Low Volatility 30 on niftyindices.com: description and methodology
- NSE's monthly factsheet (PDF)
- Current constituents (CSV)
- The weekly series on this page (JSON): growth of 100, drawdown, volatility and rolling returns
Index values themselves are NSE's and are not republished here; the charts show growth of 100 and other figures computed from them.
The workings
The question
Data
Every chart has a table view, a CSV download and a link to its published JSON. Bundles are listed in data status.