US-Focused Indian Mutual Funds
Indian mutual funds that invest in US markets — NASDAQ 100, S&P 500, and US technology themes.
What are these funds?
These are Indian mutual funds regulated by SEBI that invest in US stocks or indices. You buy them in INR through your existing MF account — no LRS or foreign broker needed.
Note: SEBI periodically caps the total overseas investment limit for Indian mutual funds. Check your fund house for current subscription status.
NASDAQ-Tracking Funds
No funds found in this category.
S&P 500 & Broad US Funds
| Fund Name | Category | 1Y Return | 3Y Return | 5Y Return | 10Y Return | |
|---|---|---|---|---|---|---|
| DSP US Specific Equity Omni FoF - Growth | Other Scheme - FoF Overseas | +32.53% | +29.27% | +19.47% | +19.08% | View |
| DSP US Specific Equity Omni FoF - IDCW | Other Scheme - FoF Overseas | +26.05% | +22.82% | +14.74% | +16.39% | View |
| Nippon India US Equity Opportunities Fund - Growth Option | Equity Schemes - Thematic Fund | +16.42% | +20.93% | +12.59% | +16.34% | View |
| Nippon India US Equity Opportunities Fund - IDCW Option | Equity Schemes - Thematic Fund | +16.42% | +20.93% | +12.59% | +16.34% | View |
| ICICI Prudential US Bluechip Equity Fund - Growth | Equity Scheme - Sectoral/ Thematic | +17.75% | +17.22% | +13.08% | +16.29% | View |
| ICICI Prudential US Bluechip Equity Fund - IDCW | Equity Scheme - Sectoral/ Thematic | +17.73% | +17.22% | +13.07% | +16.29% | View |
| Kotak US Specific Equity Passive FOF - Growth | Other Scheme - FoF Overseas | +33.73% | +33.64% | +21.66% | N/A | View |
| Motilal Oswal S&P 500 Index Fund - GROWTH | Other Scheme - Index Funds | +25.27% | +27.75% | +17.96% | N/A | View |
| SBI US Specific Equity Active FoF - Growth | Other Scheme - FoF Overseas | +22.84% | +27.63% | +17.70% | N/A | View |
| SBI US Specific Equity Active FoF - IDCW | Other Scheme - FoF Overseas | +22.84% | +27.63% | +17.70% | N/A | View |
| Bandhan US specific Equity Active FOF - Growth | Other Scheme - FoF Overseas | +12.01% | +27.39% | +16.67% | N/A | View |
| Bandhan US specific Equity Active FOF - IDCW | Other Scheme - FoF Overseas | +12.01% | +27.39% | +16.67% | N/A | View |
| Edelweiss US Technology Equity Fund of Fund - Growth | Other Scheme - FoF Overseas | +22.30% | +33.05% | +16.43% | N/A | View |
| Edelweiss US Value Equity Offshore Fund - Growth | Other Scheme - FoF Overseas | +26.83% | +20.92% | +14.83% | N/A | View |
Thematic US Funds
| Fund Name | Category | 1Y Return | 3Y Return | 5Y Return | 10Y Return | |
|---|---|---|---|---|---|---|
| Mirae Asset NYSE FANG + ETF Fund of Fund - Growth | Fund of Funds Scheme (Domestic) - Fund of Funds Scheme (Domestic) | +39.41% | +57.12% | +34.67% | N/A | View |
Investing in US Markets Through Indian Mutual Funds
For most Indian investors, the simplest way to get US market exposure is not opening a separate US brokerage account -- it's an Indian mutual fund that already invests in US equities on your behalf. These are typically fund-of-funds or feeder funds that pool your rupees and invest them (directly or through an overseas fund) into US stocks, so you get exposure through the same demat/folio setup you already use for your Indian investments, with NAVs declared in rupees.
This page groups the available funds into three buckets: NASDAQ-tracking funds (concentrated in US technology and growth names), S&P 500 & broad US funds (diversified across the 500 largest US companies), and thematic US funds (narrower bets such as FANG+ stocks or specific US-tech ETF feeders). Each bucket carries a different risk profile -- NASDAQ and thematic funds tend to be more concentrated and volatile than a broad S&P 500 fund -- so the right one depends on how much sector concentration you're comfortable with.
Frequently asked questions
How is a US-focused Indian fund taxed?
Under the rules effective since April 2023, funds with less than 65% of assets in Indian equities -- which includes essentially all US-focused funds -- are taxed at your income slab rate regardless of how long you hold them, with no separate long-term capital gains benefit. Check the current rules on the Income Tax Calculator before investing for a specific goal.
Do these funds hedge currency risk?
Most do not hedge -- your return already includes both the US market's performance and the USD/INR movement over your holding period, similar to holding a US stock directly. Check a specific fund's factsheet to confirm its approach.
Are these funds actively managed or index funds?
It varies by fund -- some are pure index/ETF feeders (e.g. tracking the Nasdaq-100 or S&P 500), while others are actively managed with a US or global mandate. The category label on this page reflects the underlying market focus, not the management style.