BSE 500 Enhanced Value 50 Index

Table of Content

1. Unit Linked Insurance Plans (ULIPs)

2. What is the BSE 500 Enhanced Value 50 Index?

3. What Makes the BSE 500 Enhanced Value 50 Index Relevant?

4. BSE 500 Enhanced Value 50 Index: Constituents and Selection Methodology

5. What are the Key Sectors in the BSE 500 Enhanced Value 50 Index?

6. Stock Selection Criteria and Weighting Methodology for BSE 500 Enhanced Value 50 Index

7. What are the Key Stocks under the BSE 500 Enhanced Value 50 Index?

8. How has the Performance of BSE 500 Enhanced Value 50 Index Been?

9. Index Fundamentals and Characteristics

10. How to Access Exposure to BSE 500 Enhanced Value 50 Index through ULIP Fund Options?

11. Key Risks Associated with BSE 500 Enhanced Value 50 Index

12. Frequently Asked Questions About BSE 500 Enhanced Value 50 Index<

The BSE 500 Enhanced Value 50 Index is a factor-based equity index designed to capture value-oriented opportunities within the broader BSE 500 universe. The index evaluates companies on valuation-based parameters and assigns weights using a combination of float-adjusted market capitalisation and value score.

As per the April 2026 factsheet, the BSE 500 Enhanced Value 50 (Special Capping) Index is a specially capped variant of the BSE 500 Enhanced Value 50 Index. It follows a capped weighting structure, has 100 constituents, and is reconstituted quarterly in March, June, September and December.

Unit Linked Insurance Plans (ULIPs)

A Unit Linked Insurance Plan, commonly known as ULIP, is a life insurance product that provides life insurance coverage along with market-linked fund options. In a ULIP, a portion of the premium is used towards life insurance coverage and applicable charges, while the remaining amount is allocated to fund options chosen by the policyholder, subject to the product terms and conditions.

A ULIP Plan is a different from traditional insurance products and are subject to market risks. The value of units may go up or down depending on the performance of the underlying fund and factors influencing capital markets. Policyholders should understand the associated risks, applicable charges, lock-in period, policy terms and fund objectives before making any decision.

Top 500 Smart Value 50 Fund (SFIN: [ULIF08801/06/26SmtVal50Fd101, benchmarked to the BSE 500 Enhanced Value 50 Index, would be made available under the following Unit Linked Insurance Products.

• HDFC Life Smart Protect Plus (UIN: 101L187V02)

• HDFC Life Sampoorn Nivesh Plus (UIN: 101L180V01)

• HDFC Life Click 2 Wealth (UIN: 101L133V03)

• HDFC Life Click 2 Invest (UIN: 101L178V01)

What is the BSE 500 Enhanced Value 50 Index?

The BSE 500 Enhanced Value 50 Index is designed to identify companies from the BSE 500 universe based on value parameters. The index uses fundamental valuation metrics to capture companies that may appear relatively attractive compared with their price.

The BSE 500 Enhanced Value 50 (Special Capping) Index is a specially capped variant of the index. As per the April 2026 factsheet, the index has the following key details:

What Makes the BSE 500 Enhanced Value 50 Index Relevant?

The BSE 500 Enhanced Value 50 Index follows a value-oriented approach. Value investing generally focuses on identifying companies whose market prices appear reasonable when compared with underlying business fundamentals. The index applies this concept through a defined and rules-based methodology.

The special capping variant adds another layer of concentration control by applying a capped weighting structure. This helps reduce over-concentration in individual constituents while retaining exposure to value-oriented companies from the BSE 500 universe.

However, investors should note that value-based strategies may perform differently across market cycles. A company may appear attractively valued due to temporary market conditions, sector-specific concerns or business challenges. Therefore, the index should be understood as a market-linked equity benchmark and not as an assurance of returns.

BSE 500 Enhanced Value 50 Index: Constituents and Selection Methodology

The index draws its universe from the BSE 500. Companies are evaluated based on value parameters and selected using a defined methodology. In the special capping variant, the weighting approach combines float-adjusted market capitalisation and value score, while applying capping rules to manage concentration.

As per the April 2026 factsheet, the BSE 500 Enhanced Value 50 (Special Capping) Index has 100 constituents and is reconstituted quarterly in March, June, September and December.

This periodic reconstitution helps the index remain aligned with current market and valuation data.

What are the Key Sectors in the BSE 500 Enhanced Value 50 Index?

The sector composition of the index may change after each quarterly reconstitution, depending on which companies qualify under the index methodology.

As per the April 2026 factsheet, the key sector weights available for the BSE 500 Enhanced Value 50 (Special Capping) Index are:

The index shows a meaningful tilt towards Energy and Commodities in the April 2026 factsheet. Since sector weights are subject to change during reconstitution, the final allocation should be checked against the latest Product/Investment team-approved data before publication.

Stock Selection Criteria and Weighting Methodology for BSE 500 Enhanced Value 50 Index

The BSE 500 Enhanced Value 50 Index uses valuation-based parameters to identify value-oriented companies within the BSE 500 universe. The index generally considers valuation metrics such as:

• Book value-to-price ratio

• Earnings-to-price ratio

• Sales-to-price ratio

The BSE 500 Enhanced Value 50 (Special Capping) Index uses a capped weighting method based on float-adjusted market capitalisation and value score. This means the index is not purely market-cap weighted. Instead, it reflects both company size and value characteristics while applying capping rules to control concentration.

What are the Key Stocks under the BSE 500 Enhanced Value 50 Index?

The stocks in the index may change during quarterly reconstitution. Therefore, the list of key stocks should be understood as a point-in-time view and not as permanent constituents.

As per the April 2026 factsheet, the top constituents by weight in the BSE 500 Enhanced Value 50 (Special Capping) Index are:

These constituents reflect the index composition as per the April 2026 factsheet. The final article should use the latest stock allocation data confirmed by the Product/Investment team before publication.

How has the Performance of BSE 500 Enhanced Value 50 Index Been?

The BSE 500 Enhanced Value 50 Index has both price return and total return variants. Total return includes the effect of dividend reinvestment, while price return reflects only price movement.

As per the April 2026 factsheet, the performance of the BSE 500 Enhanced Value 50 (Special Capping) Index is as follows:

Data as of 30^th April’ 2026

Source: https://www.bseindices.com/Downloads/Factsheet/Factsheet_BSE500EnhancedValue50SpecialCapping_Apr2026.pdf

Index Fundamentals and Characteristics

As per the April 2026 factsheet, the index fundamentals are:

The index characteristics are:

How to Access Exposure to BSE 500 Enhanced Value 50 Index through ULIP Fund Options?

A market index cannot be purchased directly. Policyholders may get exposure to the BSE 500 Enhanced Value 50 Index or its special capping variant through a Unit Linked Insurance fund option benchmarked to the index, subject to product availability, policy terms and applicable regulations.

Before selecting any ULIP fund option benchmarked to this index, policyholders should review:

• Product name and UIN

• Fund name and SFIN

• Fund objective and benchmark

• Risk profile of the fund

• Applicable charges

• Premium payment term and policy term

• Lock-in period

• Switching options, if available

• Life insurance coverage

• Tax implications

• Policy exclusions, limitations and conditions

A ULIP should be selected based on the policyholder’s financial goals, risk appetite, life insurance needs and investment horizon. It should not be considered a short-term product due to the mandatory five-year lock-in applicable to linked insurance products.

Key Risks Associated with BSE 500 Enhanced Value 50 Index

The BSE 500 Enhanced Value 50 Index is an equity market-linked benchmark and is subject to market risks. The performance of any fund benchmarked to this index will depend on market conditions, stock-level performance, sector allocation and tracking approach.

Key risks include:

• Market risk: Equity markets may fluctuate due to economic, political, global or company-specific factors.

• Value-factor risk: Value-oriented companies may underperform during certain market phases.

• Value trap risk: A stock may appear attractively valued because of underlying business challenges.

• Sector concentration risk: Even with capping rules, the index may have higher exposure to certain sectors during a particular period.

• Stock concentration risk: Stock-level movements may affect index performance.

• Tracking risk: A fund benchmarked to the index may not replicate index returns exactly due to expenses, cash holdings, execution timing and portfolio construction differences.

• Back-tested data limitation: Any index data prior to launch date may be back-tested and should not be treated as actual live performance.

Frequently Asked Questions About BSE 500 Enhanced Value 50 Index

What is the BSE 500 Enhanced Value 50 Index?

The BSE 500 Enhanced Value 50 Index is a value-factor index that selects companies from the BSE 500 universe based on valuation-related parameters such as book value-to-price, earnings-to-price and sales-to-price.

What is the BSE 500 Enhanced Value 50 (Special Capping) Index?

The BSE 500 Enhanced Value 50 (Special Capping) Index is a specially capped variant of the BSE 500 Enhanced Value 50 Index. As per the April 2026 factsheet, it has 100 constituents and follows a capped weighting method based on float-adjusted market capitalisation and value score.

What is the core theme of the BSE 500 Enhanced Value 50 Index?

The core theme of the index is value-based equity exposure. It identifies companies that appear relatively attractive on valuation metrics within the BSE 500 universe.

How many stocks are part of the BSE 500 Enhanced Value 50 (Special Capping) Index?

As per the April 2026 factsheet, the BSE 500 Enhanced Value 50 (Special Capping) Index has 100 constituents.

How often is the BSE 500 Enhanced Value 50 (Special Capping) Index reconstituted?

The index is reconstituted quarterly in March, June, September and December.

Can I invest directly in the BSE 500 Enhanced Value 50 Index?

No. An index cannot be directly purchased. Policyholders may access exposure through a Unit Linked Insurance fund option benchmarked to the index, subject to product availability, policy terms and applicable regulations.

Is the BSE 500 Enhanced Value 50 Index return guaranteed?

No. The index is market-linked and does not offer guaranteed returns. Past performance, including back-tested performance, should not be considered an indication of future performance.

What are the key risks of a fund benchmarked to this index?

The key risks include equity market volatility, value-factor underperformance, sector concentration, stock concentration, tracking difference and the possibility that value-oriented companies may remain undervalued for extended periods.