Dsp equal nifty 50 fund

I am an account holder of Zerodha. I do invest on coin, I want to know whether investing with Equal Nifty 50 is better than Nifty 50 fund.
also instead of keeping it in bank deposits whether one can invest with EQUAL NIFTY 50 FUND

I don’t really see any additional advantage of equal nifty 50 over Nifty 50. In very limited set of conditions equal nifty might outperform nifty 50, but generally I believe nifty 50 will be better performer

you can read this to get better idea

They are two completely different products with completely different risks. So I would say No.

Like most things in the markets this is also a yes and no,

The top 3 constituents of Nifty 50 Index has a 27.9% weight in the index, and the top 10 have a weight of 58.3%. This skews the diversification that one can get by holding on to the Nifty Index alone. The Nifty 50 Equal Weight index has the same constituents as that of Nifty 50 Index, but their proportion is equal. This means that in Nifty 50 Equal Weight (NEW) Index, all stocks are weighted approximately 2%.

If we go by long term historical data since 1999 to September 2021, Nifty 50 Equal Weight index has a CAGR of 16.44% Vs 14.42% for Nifty 50 Index. This means Rs.1 Lakh invested in Nifty 50 would have become 20.09 Lakh while in Nifty 50 Equal Weight would have become 29.66 Lakh. So backtesting defends it.

If we go short term data :
Jan to Sep end - 34%
Oct to now - 2%

Equal weight performs more erratically in the shorter term than Nifty,

As to which can be better to hold, if India as a whole outperforms in the coming years, equal weight would do better. If India fails to grow as predicted, Nifty 50 would do better as the heavyweights of the index would still continue to grow even without the riding wave.