Overview
Indian equities weighted by earnings rather than market cap — around 580 profitable companies, tilting toward the cheap and away from the hyped.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| RELIANCE | Reliance Industries | 7.8% |
| HDFCBANK | HDFC Bank | 6.4% |
| ICICIBANK | ICICI Bank | 4.9% |
| INFY | Infosys Ltd. | 3.6% |
| TCS | Tata Consultancy | 3.2% |
| SBIN | State Bank of India | 3.0% |
| AXISBANK | Axis Bank | 2.6% |
| ONGC | Oil & Natural Gas Corp. | 2.4% |
| LT | Larsen & Toubro | 2.2% |
| COALINDIA | Coal India | 2.0% |
Fund Details
Investment Thesis
India is the decade's structural growth story taking a cyclical breather — a -9% year as foreign money rotated to cheaper Asian markets and rich valuations digested. EPI's earnings-weighting is built for exactly this phase: it systematically owns India's profits rather than its promises, historically outrunning cap-weighted rivals in recoveries. The 0.84% fee is steep; the discipline is the product.
Who It's For
Long-horizon India believers using the drawdown to build a position through a valuation-aware vehicle rather than the momentum-heavy cap-weighted funds.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $24.49 | -- |
| 2017 | $33.55 | +37.0% |
| 2018 | $30.19 | -10.0% |
| 2019 | $31.40 | +4.0% |
| 2020 | $35.48 | +13.0% |
| 2021 | $44.35 | +25.0% |
| 2022 | $40.36 | -9.0% |
| 2023 | $49.24 | +22.0% |
| 2024 | $54.17 | +10.0% |
| 2025 | $52.00 | -4.0% |
| Year | Yield |
|---|---|
| 2016 | 0.80% |
| 2017 | 0.70% |
| 2018 | 0.90% |
| 2019 | 1.00% |
| 2020 | 0.60% |
| 2021 | 0.40% |
| 2022 | 0.60% |
| 2023 | 0.40% |
| 2024 | 0.20% |
| 2025 | 0.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1.5B | -- |
| 2017 | $1.8B | +20.0% |
| 2018 | $1.4B | -22.2% |
| 2019 | $1.1B | -21.4% |
| 2020 | $0.9B | -18.2% |
| 2021 | $1.1B | +22.2% |
| 2022 | $0.8B | -27.3% |
| 2023 | $1.5B | +87.5% |
| 2024 | $2.5B | +66.7% |
| 2025 | $2.2B | -12.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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