Top 5 Nasdaq Mutual Funds in India

The Nasdaq is the second-largest stock exchange in the world. It has a diverse range of companies as its constituents. These include some of the most valuable companies in the world.

Apple, Microsoft, Intel, Amazon, Nvidia, Alphabet (Google), Meta Platforms (Facebook), Netflix, Tesla, Adobe, Qualcomm, and Cisco, are major tech firms in the Nasdaq.

Apart from these, there are well-known consumer companies such as PepsiCo, Costco Wholesale, and Starbucks, as well as financial firms like Morningstar, Robinhood, Coinbase, and many more.

The Nasdaq also includes international companies including some Indian ones. For example, Infosys' ADRs are listed on the Nasdaq. In the Nasdaq 100 index, almost 50% of constituent companies are from outside the US.

If you are looking to diversify your portfolio geographically, investing in the Nasdaq is an option.

Over a 5-year period, the Nasdaq Composite index has clocked a CAGR of nearly 15%, while the Nasdaq-100 has around 17% CAGR as of 27 May 2025.

The economic growth in the US and the earnings growth of the companies in the index have helped create wealth for investors. That said, the returns are less than the Nifty 100 index.

Nasdaq mutual funds in India can be considered if you wish to invest in Nasdaq-listed companies.

These mutual funds operate as Funds of Funds (FoFs), meaning they do not invest directly in Nasdaq-listed stocks but instead invest in an underlying overseas fund/s that tracks the Nasdaq or the Nasdaq-100 Index.

This article explains which are the top 5 Nasdaq mutual funds in India.

#1 Motilal Oswal Nasdaq 100 FOF

This scheme is the oldest Nasdaq mutual fund, incepted in November 2018, managing assets worth Rs 49 billion (bn) as of April 2025 portfolio.

The fund invests in the units of Motilal Oswal Nasdaq 100 ETF, which is a fund of fund (FOF) scheme.

Motilal Oswal Nasdaq 100 FOF is benchmarked against Nasdaq-100 as the primary index and Nifty 50 - TRI as the secondary index.

Riding on the growth of technology stocks and other companies, Motilal Oswal Nasdaq 100 FOF has clocked a CAGR of 24.3% over 5 years as of 27 May 2025.

Motilal Oswal Nasdaq 100 FOF's expense ratio is currently 0.2% under the direct plan.

#2 Navi NASDAQ 100 FoF

This is a relatively new scheme, launched in March 2022 and has assets under management (AUM) worth Rs 9 bn as of April 2025 portfolio.

The scheme benchmarks its performance against the Nasdaq-100 index.

Currently, Navi NASDAQ 100 FoF has nearly 99% of its assets invested in Invesco NASDAQ 100 ETF and the balance, around 1% is held in cash & cash equivalents.

Over a 3-year period, Navi NASDAQ 100 FoF has clocked a CAGR of 16.9% as of 27 May 2025, which is nearly 6 percentage points higher than its benchmark index.

Navi NASDAQ 100 FoF is a low-cost investment with an expense ratio of 0.16% under the direct plan.

#3 ICICI Pru NASDAQ 100 Index Fund

ICICI Pru launched this fund in October 2021 with a simple promise - direct access to America's biggest tech companies without overseas trading hassles.

Unlike other Nasdaq funds that invest through overseas ETFs, ICICI Pru takes the direct route. The fund actually owns shares of Apple, Microsoft, Nvidia, and Amazon. When you invest here, you're buying a slice of these companies, not some fund that owns another fund.

With Rs 16 billion in assets, it's grown rapidly in three years. The fund manager keeps 95-100% in Nasdaq-100 companies with a small cash buffer for operations.

The results are impressive. Over three years, the fund delivered 16.9% returns annually, beating the Nasdaq-100 index by 6 percentage points. That's a solid performance for a passive fund.

This direct approach costs more - 0.61% annually versus fund-of-funds options. But this is mainly because the fund is tracking or replicating its underlying index rather than units of some overseas fund.

#4 Aditya Birla Sun Life NASDAQ 100 FOF

This scheme was launched in November 2021 with the objective of providing long-term capital appreciation by investing in units of overseas ETFs and/or Index Funds based on the NASDAQ-100 Index.

As per the April 2025 portfolio, Aditya Birla Sun Life NASDAQ 100 FOF has an AUM of a little over Rs 3 bn.

The scheme benchmarks its performance against the Nasdaq-100 TRI.

Currently, the scheme has around 99% allocated in iShares Nasdaq 100 UCITS ETF USD and the remaining is held in cash & cash equivalents.

Over 3 years period, Aditya Birla Sun Life NASDAQ 100 FOF has clocked 16.7% CAGR as of 27 May 2025, outperforming the Nasdaq-100 index.

Aditya Birla Sun Life NASDAQ 100 FOF's expense ratio is 0.62% under the direct plan.

#5 Kotak NASDAQ 100 FoF

This scheme was launched in February 2021 and has an AUM of nearly Rs 29 bn as of April 2025.

It has a mandate to invest a minimum of 95% of its assets in units of overseas ETFs and/or Index Funds based on the NASDAQ 100 Index.

Kotak NASDAQ 100 FoF tracks its performance against the Nasdaq-100 TRI.

Currently, 99.8% of its assets are in iShares Nasdaq 100 UCITS ETF USD and the rest is held in cash & cash equivalents.

Over 3 years, the scheme has clocked a CAGR of 15.9%, which is nearly 5% higher than the Nasdaq-100 index.

The expense ratio of the scheme is currently 0.24%.

What to Keep in Mind When Considering Nasdaq Mutual Funds

When you invest in Nasdaq funds, you're essentially betting on the American economy.

Here's what most people don't realize - these aren't purely American companies anymore. Apple assembles iPhones in China, Google earns billions from Europe, and Netflix streams across six continents.

Nasdaq companies are global in nature. Any breakdown in foreign trade relations can affect supply chains, cost profiles, and overall profitability.

The protectionist policies of US President Donald Trump, particularly tariffs, are something to watch out for.

Even the US Federal Reserve's monetary policy action can be a significant factor in determining the direction of the market.

Another major influence on the Nasdaq is the strength/weakness of the US dollar.

Now here's the uncomfortable truth - Nasdaq is trading at 37 times earnings today. The five-year average? You're paying a premium for companies that need to grow into their valuations. That's a risky bet in anyone's book.

Nasdaq investing isn't for nervous investors. You should be ready to take high risk and have an investment horizon of at least 3-5 years.

Be a thoughtful investor.

Happy Investing.

# Notes: Data Source: ACE MF
Past performance is not an indicator of future returns. The securities quoted are for illustration only and are not recommendatory.
Rolling period returns are calculated using the Direct Plan-Growth option. Returns over 1-year are compounded annualised.
Please note, that returns here are historical returns. Past performance is not an indicator of future returns.
The list of schemes is not exhaustive.
The securities quoted are for illustration only and are not recommendatory.

Disclaimer: Speak to your investment advisor for further assistance before investing.
Mutual Fund investments are subject to market risks. Read all scheme-related documents carefully.
This article is for information purposes only. It is not a recommendation and should not be treated as such.