Key Highlights

  • GRIN tracks the MarketGrader India Growth Leaders 50 index and provides exposure entirely concentrated in India, having been admitted to ASX trading on 24 April 2025.
  • The fund reported net Assets of $14.75 million and a management fee of 0.75 percent per annum, with a Beta of 1.70 and a Standard Deviation of 18.65.
  • Basic Materials exposure stands at 18.60 percent of the portfolio, substantially above the Equity World Other category average of 2.29 percent, while Technology at 10.78 percent sits well below the category's 24.99 percent.

The VanEck India Growth Leaders ETF (ASX:GRIN) aims to provide Investment returns, before fees and other costs, that track the performance of its reference index in Australian dollars, without necessarily aiming to replicate the index on a strict one-to-one basis. Admitted to ASX trading on 24 April 2025, the fund is categorised under Equity World Other given its single-country focus and is benchmarked against the MarketGrader India Growth Leaders 50 TR AUD index, an index oriented toward growth-screened Indian companies rather than the largest-capitalisation names.

The fund reported net assets of $14.75 million and 801,529 units on issue, with a management fee of 0.75 percent per annum. Risk metrics show a beta of 1.70 and a standard deviation of 18.65, both elevated figures that reflect the fund's tilt toward smaller and mid-sized growth companies relative to broad-market India index funds.

Sector Composition and Portfolio Structure

GRIN's sector allocation is led by Financial Services at 23.22 percent, above the category average of 13.54 percent, followed by Industrials at 22.79 percent, also above the category's 13.12 percent. Basic Materials exposure of 18.60 percent stands markedly above the category average of 2.29 percent, while Technology at 10.78 percent and Healthcare at 11.96 percent both trail their respective category averages of 24.99 percent and 24.41 percent by a considerable margin. The fund reported no allocation to Consumer Defensive or Energy sectors.

Geographic exposure is entirely concentrated in India at 100.00 percent, compared with a category average of 6.25 percent given the category's broader global composition. The fund's asset allocation showed 100.16 percent in stock and a modest negative cash position of 0.16 percent, a figure consistent with short-term settlement timing rather than a structural Leverage position.

Holdings, Returns and Distributions

The portfolio's top ten holdings account for 28.44 percent of total assets across 55 companies, reflecting a comparatively diversified structure across smaller and mid-sized names. Welspun Corp is the largest position at 5.12 percent, followed by TD Power Systems at 3.31 percent and Netweb Technologies India at 2.71 percent. Lloyds Metals & Energy, SPR Auto Technologies, Sai Life Sciences, Acutaas Chemicals, Premier Energies, Nippon Life India Asset Management and Data Patterns India complete the remaining top ten names.