Home >Mutual Funds >News >ICICI Pru Bharat 22 ETF: A glace at its performance

Bhart 22 ETF is an open-ended exchange traded fund investing in S&P BSE Bharat 22 Index. The scheme invests in 22 companies including three private sector stocks and 19 public sector units (PSUs). Bharat 22 scheme was launched by the Government to fulfill its disinvetsment target in PSUs. The ETF scheme is the worst performing equity mutual fund across all equity fund categories except sectoral funds. Bharat 22 ETF has declined by over 15% in the last one year. Year to date, the fund has fallen by 21%.

An investment of 10,000 an year ago in Bharat 22 ETF would have deteriorated to 8,306 as on August 25. Bharat 22 ETF was launched in November 2017. The returns since launch are negative 10.87%. The scheme manages total assets worth 4,093 crore as on July 31.

Here's a look at the one-year price movement of Bharat 22 ETF on BSE.

One year price movement of Bharat 22 ETF on BSE. The ETF has lost over 15% in one year period.
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One year price movement of Bharat 22 ETF on BSE. The ETF has lost over 15% in one year period.

Bharat 22 ETF has a highly concentrated portfolio with 40% of its assets invested in the top three stocks. Top three stocks are the private companies namely, ITC, L&T and Axis Bank.

The public sector stocks include Power Grid Corporation, State Bank of India, NTPC, Bharat Petroleum, Natinal Aluminium Company, ONGC, Coal India, Bharat Electronics, Indian Oil Corporation, GAIL, Rural Electrification Corporation, Power Finance Corporation, Engineers India, NHPC, NBCC, Bank of Baroda,SJVN, NLC India and Indian Bank.

The scheme has around 17% of its assets in banks, 16% in power, 15% in construction project, 14.5% in consumer durables and 10.5% in petroleum products.

Mutual fund experts believe this is not the right time to judge the performance of any market-linked investment instrument.

"This is the most uncertain time in the markets due to the pandemic we all are dealing with. This is not the right time to judge a scheme as there is a lot of confusion in the market," says Shweta Jain, founder, Investography, a Bangalore based financial planner.

"Also, since we have all kinds of open-ended equity schemes to invest in the desired market cap based on one's risk profile, we don't believe there is need of a specifically-designed scheme that restricts itself to a specific theme," Jain adds.

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