Any thoughts on Nippo India Nifty 500 equal weight index mutual fund NFO? How is this I ex as compared to Nifty 500 index?

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500 equal weight fund allocates equal weight to each stock in its portfolio, which can help mitigate concentration risk which is not the case with 500 index fund where the majority exposure is towards top 10 companies in the portfolio. Hence, index fund return is highly dependent upon performance of these 10 companies. On the contrary, equal weight risk is distributed.

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