@Bhavyesh_Solanki I have written about this earlier also. A direct comparison with the index may not be very helpful; it is better to compare with NAV of some mutual fund based on this index.
There is a MF offered by Motilal Oswal with this underlying index.
I started to calculate NAV of this pf since 9th of May this year. Comparing the NAV change of this pf and the NAV change of Motilal Oswal MF, I find that this pf has underperformed. Motilal Oswal has returned 20% in three months while this pf has returned 14.4%. Motilal Oswal has indicated a CAGR of 69.1% for their MF since July 3rd 2023. The XIRR (not CAGR, as there is periodic cash inflow and outflow) of this pf since November 2022 is 78.3%.
I believe this pf can give a few % points more than index over longer periods of time.
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