I personally don’t track Nifty Midcap 150 and Nifty Midcap 150 Quality index. A close look at the constituents may give some insights.
The factor based/ smart beta indices may underperform broad based indices in short or medium term. for example, Value factor has also underperformed broad based indices for quite long time.
That is why it is always recommended to invest in multi factor portfolio.
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