Nifty Commodities PE Ratio
Valuation Percentile
Nifty Commodities's PB is cheaper than 97% of the last 5 years.
The Nifty Commodities PE ratio is 14.60 as of 1 October 2026, about 5% below its 5-year median of 15.37, which places it in fairly valued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| Full history | 15.14 | -3.57% |
| 15 Years | 15.15 | -3.63% |
| 10 Years | 15.99 | -8.69% |
| 7 Years | 15.34 | -4.82% |
| 5 Years | 15.37 | -5.01% |
| 3 Years | 16.97 | -13.97% |
| 1 Year | 16.17 | -9.71% |
Historical PE Ratio
Series start. P/E is published from 7 Sept 2011. Index values go back to 1 Jan 2004.
Earnings
Index earnings are the profits behind the index level: the closing value divided by the P/E ratio, in index points. The line moves in steps because it changes only when trailing four-quarter profits are updated or the constituents change. Compare it with price to see whether a move came from earnings or from a change in what investors pay for them.
Nifty Commodities earnings grew +4.90% a year over the last 5 years, while the index moved +9.78% a year and its P/E went from 11.6 to 14.6.
Earnings growth is annualised from the last trading day at or before the start of each window to 1 Oct 2026. Price growth uses the index level over the same two dates, excluding dividends. EPS is undefined on days with no published P/E, so those days are skipped. Past growth, not a forecast.
Ways to invest in Nifty Commodities
1 ETF and 1 index fund track this index. Prices and NAVs as of 1 Oct 2026.
ETFs (1)
| ETF | Symbol | Price | NAV | Premium | 1Y |
|---|---|---|---|---|---|
| ICICI Prudential Nifty Commodities ETF | COMMOIETF | 96 | 95.06 | +0.99% | +2.16% |
Index funds (1)
| Fund | AMC | NAV | Since |
|---|---|---|---|
| Kotak Nifty Commodities Index Fund | Kotak Mahindra Asset Management Company Limited. | 11.451 Oct 2026 | 2025 |
Listed for information only, not a recommendation. Check expense ratio and tracking difference before investing.
Performance and risk
1-year holding windows since 2011 returned a median of +8.96% (best +119.10%, worst -39.53%).
Today's PE of 14.60 sits in band 3 of 5 of this index's history (PE 14.6 to 15.9). From this band, 5-year forward returns had a median of +11.75% a year and were positive in 99% of windows (551 windows since 2011).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty Commodities. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty Commodities
The Nifty Commodities contains 30 constituents. Its largest sectors by weight are Metals & Mining (28.6%) and Oil, Gas & Consumable Fuels (27.2%).
Recent changes
4 October 2026: Added Vedanta Aluminium Metal Ltd.. Removed PI Industries Ltd..
Constituent list as of 4 October 2026, sourced from NSE Indices. Weights as of 30 September 2026, from the NSE factsheet.
How this index works
- Selection
- The index is designed to reflect the behaviour and performance of a diversified portfolio of companies representing the commodities segment which includes sectors like Oil, Petroleum Products, Cement, Power, Chemical, Sugar, Metals and Mining etc.
- Weight cap
- At the time of rebalancing of shares/ change in index constituents/ change in investable weight factors (IWFs), the weightage of the index constituent (where applicable) is capped at 10%.
Summarised from NSE's official methodology document (PDF) for the Nifty Commodities; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty Commodities PE ratio?
As of 1 October 2026, the Nifty Commodities PE ratio is 14.60. That is about 5% below its 5-year median of 15.37 and about 10% below its 1-year median of 16.17.
Is the Nifty Commodities undervalued right now?
On a historical basis it screens as fairly valued. Its current PE of 14.60 sits below every median window: 1-year (16.17), 3-year (16.97), 5-year (15.37), 7-year (15.34), 10-year (15.99), 15-year (15.15) and full-history (15.14).
What is a normal PE ratio for the Nifty Commodities?
Over the past five years its median PE has been 15.37, and over the past three years 16.97. Today's 14.60 is toward the lower end of that historical range.
How many stocks are in the Nifty Commodities?
The Nifty Commodities contains 30 stocks. By number of companies, its largest sectors are Power (8 stocks), Metals & Mining (7 stocks) and Oil Gas & Consumable Fuels (7 stocks).
What returns has the Nifty Commodities delivered?
As of September 2026, the Nifty Commodities total return (with dividends reinvested) is +4.66% over the past year and +11.63% annualized over the past five years. One-year figures are absolute; multi-year figures are annualized (CAGR). Data from the NSE factsheet.
How volatile is the Nifty Commodities?
Over the year to September 2026, the Nifty Commodities had an annualized volatility (standard deviation of daily returns) of 16.02%. Its beta versus the Nifty 50 is 0.94, meaning it has moved less than the broad market.
What is a typical one-year return for the Nifty Commodities?
Across every one-year holding window since 2011, the Nifty Commodities total return has a median of +8.96%, with the best window at +119.10% and the worst at -39.53%. Based on NSE Total Returns Index data; a past distribution, not a prediction.
What have 5-year returns been from PE levels like today's?
The Nifty Commodities currently trades at a PE of 14.60, in band 3 of 5 of its own PE history. Across 551 overlapping 5-year windows since 2011 that began in this band, the median forward return was +11.75% a year, positive in 99% of windows. A past distribution, not a prediction.
How fast have Nifty Commodities earnings grown?
Nifty Commodities earnings, measured as the index level divided by its P/E, grew +4.90% a year over the last 5 years, while the index itself moved +9.78% a year and its P/E rose from 11.63 to 14.60. Past growth, not a forecast.
Last updated: 1 October 2026.