Key highlights

  • ASX:GRIN aims to track the MarketGrader India Growth Leaders 50 Index and is fully invested in India.
  • The fund holds 55 companies, and the top ten make up 21.54%, so no holding is above 2.4%.
  • The fund has about $15.30 million in assets and a 0.75% management fee.

The VanEck India Growth Leaders ETF (ASX:GRIN) provides exposure to a selection of Indian companies chosen on growth characteristics, through a single ASX-quoted fund. It aims to provide investment returns, before fees and other costs, that track the performance of its reference index in Australian dollars.

About the Fund

GRIN was admitted to the ASX on 24 April 2025 and is classified in the Equity World Other category. Its benchmark is the MarketGrader India Growth Leaders 50 Total Return Index in Australian dollars. The fund does not necessarily aim to replicate the reference index on a one-to-one basis. It has about $15.30 million in assets, and the management fee is 0.75%.

Country exposure

The fund’s entire country allocation is to India (100%).

Of the portfolio, 98.14% is in companies valued above $1 billion and 1.83% in companies between $500 million and $1 billion. Stocks make up 99.35% of the fund.

Portfolio holdings

The portfolio holds 55 companies, with top ten holdings making up 21.54% of the fund. The largest positions are Cupid Ltd (2.36%), Aegis Logistics Ltd (2.27%), SPR Auto Technologies Ltd (2.19%), ICICI Prudential Asset Management Co Ltd (2.17%) and TD Power Systems Ltd (2.13%).

The top ten also include Coal India, Himadri Speciality Chemical, TVS Motor, Multi Commodity Exchange of India and Lenskart Solutions. The weights are spread fairly evenly across the portfolio.

Understanding the exposure

The five largest positions add up to 11.12% of the fund, which shows how much of the exposure rests on a small number of names. The remaining 45 holdings share the other 78.46% of the portfolio, an average of about 1.74% each. Every holding is based in India, so the fund’s exposure sits entirely in that one market and it has no allocation to other countries.

Fees, size and distributions

The most recent distribution was a final distribution of $0.090 per unit, with an ex-date of 1 July 2026 and payment on 27 July 2026, and the reported annual yield is 0.47%.

Fund structure and reporting

GRIN has an ISIN of AU0000389512 and a head office at Level 12, Suite 1, 60 Castlereagh Street, Sydney. Recent ASX announcements from the fund include issued-units-outstanding notices, a replacement Product Disclosure Statement on 20 July 2026 and the annual report for the year ended 30 June 2026.

Equity World Other funds are almost exclusively dedicated to global stocks, with less than 20% of the portfolio in assets other than equities, and they may be defined by a single sector or country exposure.

Units in GRIN are quoted on the ASX and can be bought and sold through a broker during trading hours, in the same way as shares, so the exposure described above is available without buying each holding separately. The fund follows a rules-based index, so its holdings and weightings are set by the index methodology and adjusted when the index is rebalanced.