Impact of Tracking Efficiency Measures on Selection of ETFs – A Study

Impact of Tracking Efficiency Measures on Selection of ETFs – A Study

Registration ID: IJNRD_204102

Published ID: IJNRD2308331

DOI: Click Here to Get

Dr. Swapan Sarkar , Md Shahjahan

Tracking efficiency, Tracking error, Exchange Traded Funds, National Stock Exchange

Tracking efficiency which is measured in terms of tracking error serves as an additional criterion while evaluating and selecting an index exchange traded fund. However, there is no universally accepted tracking error measure and use of alternative measures may lead to different selection by investors. The present study investigates the tracking efficiency of select Indian Index Exchange Traded Funds listed in National Stock Exchange based on daily NAV of ETFs for a five-year period from 1.1.2016 - 31.12.2020. Kendall’s coefficient of concordance is calculated and tested for statistical significance. M50 index ETF appears to be the best among the lot for each of the sample years as well as for the overall period. The result clearly indicates that there is no association among the ranks given by different methods of measuring tracking error and hence the methods are independent. As a result, the investors need to exercise additional caution in using any one particular method over the others as this may involve error in selecting an efficient fund.

Published Paper   E-Certificate

"Impact of Tracking Efficiency Measures on Selection of ETFs – A Study ", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.8, Issue 8, page no.d130-d136, August-2023, Available :https://ijnrd.org/papers/IJNRD2308331.pdf

Volume 8 Issue 8, August-2023

Pages : d130-d136

Paper Reg. ID: IJNRD_204102

Published Paper Id: IJNRD2308331

Downloads: 000121120

Research Area: Commerce

Country: Kolkata, West Bengal, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2308331.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2308331

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition

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