Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Msci India ETF is an ETF fund and Mahindra Manulife Equity Savings Fund is an Equity Savings fund. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Mahindra Manulife Equity Savings Fund 1.28%. Their portfolios overlap 39.8%: they hold 43 of the same securities.
Aditya Birla Sun Life Msci India ETF
ETF
- Expense ratio
- 0.22%
- NAV
- ₹27.93
Mahindra Manulife Equity Savings Fund
Equity Savings
- Expense ratio
- 1.28%
- NAV
- ₹25.40
Which is better, Aditya Birla Sun Life Msci India ETF or Mahindra Manulife Equity Savings? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Aditya Birla Sun Life Msci India ETF costs less: 0.22% a year against 1.28%.
- Mahindra Manulife Equity Savings fell less in its worst fall since 20-02-2026: −4.2% against −12.5%.
- Aditya Birla Sun Life Msci India ETF holds more in large companies: 80.6% of the fund in large caps against 51.3%.
- Mahindra Manulife Equity Savings is the larger fund: ₹519 Cr against ₹11 Cr.
- Their portfolios overlap 39.8%: 43 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Equity Savings Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | ETF | Equity Savings |
| AUM | ₹11 Cr (30-09-2026) | ₹519 Cr (30-09-2026) |
| NAV | ₹27.93 | ₹25.40 (Direct) |
| Expense ratio (Direct) | Not available | 1.28% |
| Expense ratio (Regular) | Not available | 2.83% |
| Riskometer | Very High | Moderately High |
| Benchmark | MSCI India Index | Nifty Equity Savings Index |
| Launch date | 17-02-2026 | 01-02-2017 |
| Minimum investment | For Subscription / Redemption of units directly with Mutual Fund: Subscription / Redemption facility directly with the Mutual Fund would be restricted to Market Makers and Large Investors. Units of the Scheme may be subscribed to / redeemed only in Creati | ₹1,000 |
| Lock in | None | None |
| Fund managers | Priya Sridhar, Mehul Dama | Renjith Sivaram, Navin Matta, Rahul Pal, Kush Sonigara |
| Exit load | NIL | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 15 days. |
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Msci India ETF | +0.29% | −5.96% | −3.50% | -- | -- | -- | -- |
| Mahindra Manulife Equity Savings Fund (Direct) | −0.12% | −0.68% | +2.15% | +2.74% | +9.27% | +8.05% | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
Category average: the average of the 23 Equity Savings funds, same plan type.
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings: Year-wise Returns
| Year | Aditya Birla Sun Life Msci India ETFAditya Birla Sun Life Msci India ETF | Mahindra Manulife Equity SavingsMahindra Manulife Equity Savings |
|---|---|---|
| 2026to date | -- | +1.88% |
| 2025 | -- | +8.90% |
| 2024 | -- | +10.14% |
| 2023 | -- | +16.60% |
| 2022 | -- | +4.24% |
| 2021 | -- | +18.36% |
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings: Rolling Returns
Every holding period of both funds
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.53% | +9.99% |
| Standard deviation | 15.37% | 7.62% |
| Sharpe ratio | -1.03 | 0.60 |
| Sortino ratio | -1.35 | 0.81 |
| Maximum drawdown | −12.5% (31-03-2026) | −20.5% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 20-02-2026 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Aditya Birla Sun Life Msci India ETF
Mahindra Manulife Equity Savings Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Msci India ETF | −12.5% | 23-02-2026 | 31-03-2026 | 03-08-2026 | 4 months | −7.9% |
| Mahindra Manulife Equity Savings Fund (Direct) | −4.2% | 23-02-2026 | 30-03-2026 | 16-06-2026 | 3 months | −1.8% |
From daily values since 20-02-2026, the first day every fund has.
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Msci India ETF, September 2026; Mahindra Manulife Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 39.8%
- Held by both
- 43
- Only in Aditya Birla Sun Life Msci India ETF
- 122
- Only in Mahindra Manulife Equity Savings
- 45
| Security | % of Aditya Birla Sun Life Msci India ETF | % of Mahindra Manulife Equity Savings |
|---|---|---|
| HDFC Bank Ltd. | 6.44% | 6.04% |
| ICICI Bank Ltd. | 5.59% | 5.87% |
| Reliance Industries Ltd. | 5.44% | 5.40% |
| Mahindra & Mahindra Ltd. | 2.05% | 2.30% |
| Bajaj Finance Ltd. | 1.91% | 4.79% |
| Larsen & Toubro Ltd. | 2.02% | 1.74% |
| Kotak Mahindra Bank Ltd. | 1.82% | 1.56% |
| Sun Pharmaceutical Industries Ltd. | 1.30% | 3.30% |
| Bharti Airtel Ltd. | 3.93% | 1.25% |
| State Bank of India | 1.41% | 0.97% |
| Divi's Laboratories Ltd. | 0.88% | 1.22% |
| Titan Company Ltd. | 1.30% | 0.76% |
| Axis Bank Ltd. | 2.25% | 0.73% |
| Eternal Ltd. | 1.22% | 0.56% |
| Tech Mahindra Ltd. | 0.66% | 0.54% |
| Tata Steel Ltd. | 1.10% | 0.52% |
| Shriram Finance Ltd. | 1.11% | 0.51% |
| Infosys Ltd. | 2.41% | 0.48% |
| Hindustan Aeronautics Ltd. | 0.62% | 0.45% |
| Persistent Systems Ltd. | 0.43% | 0.61% |
| NTPC Ltd. | 1.12% | 0.41% |
| TVS Motor Company Ltd. | 0.78% | 0.37% |
| Hindalco Industries Ltd. | 0.97% | 0.35% |
| Tata Power Company Ltd. | 0.43% | 0.35% |
| Bharat Electronics Ltd. | 1.07% | 0.34% |
| SBI Life Insurance Co. Ltd. | 0.61% | 0.34% |
| Oil & Natural Gas Corporation Ltd. | 0.46% | 0.34% |
| Power Grid Corporation of India Ltd. | 0.87% | 0.33% |
| Tata Motors Ltd. | 0.62% | 0.33% |
| Jindal Steel Ltd. | 0.32% | 1.63% |
| Hindustan Unilever Ltd. | 1.06% | 0.32% |
| Grasim Industries Ltd. | 0.66% | 0.32% |
| Tata Consumer Products Ltd. | 0.41% | 0.31% |
| National Aluminium Company Ltd. | 0.22% | 0.33% |
| Union Bank of India | 0.21% | 0.36% |
| Bank of Baroda | 0.19% | 0.36% |
| Ambuja Cements Ltd. | 0.18% | 3.73% |
| Canara Bank | 0.17% | 1.74% |
| L&T Finance Ltd. | 0.17% | 0.38% |
| Coromandel International Ltd. | 0.17% | 0.54% |
| Shree Cement Ltd. | 0.15% | 0.23% |
| Oil India Ltd. | 0.15% | 0.32% |
| Hindustan Petroleum Corporation Ltd. | 0.27% | 0.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.8% means 39.8% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Aditya Birla Sun Life Msci India ETF
| Security | % of fund |
|---|---|
| Tata Consultancy Services Ltd. | 1.33% |
| Maruti Suzuki India Ltd. | 1.13% |
| Ultratech Cement Ltd. | 0.90% |
| HCL Technologies Ltd. | 0.86% |
| Adani Ports and Special Economic Zone Ltd. | 0.83% |
Largest holdings only in Mahindra Manulife Equity Savings Fund
| Security | % of fund |
|---|---|
| 7.4% Bharti Telecom Limited 2029 | 3.77% |
| 364 Days Tbill 2027 | 2.78% |
| 7.79% Bajaj Housing Finance Limited 2031 | 2.36% |
| 8.37% REC Limited 2028 | 1.96% |
| 8.02% Cholamandalam Investment and Finance Company Ltd 2029 (FRN) | 1.93% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Equity Savings |
|---|---|---|
| Equity | 99.8% | 61.6% |
| Debt | 0.0% | 29.1% |
| Cash and others | 0.2% | 9.3% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Equity Savings |
|---|---|---|
| Large Cap | 80.6% | 51.3% |
| Mid Cap | 19.2% | 4.0% |
| Small Cap | 0.0% | 6.3% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Equity Savings |
|---|---|---|
| Banks | 20.3% | 17.6% |
| IT - Software | 6.6% | 1.6% |
| Petroleum Products | 6.4% | 5.5% |
| Finance | 6.3% | 5.7% |
| Automobiles | 6.2% | 3.0% |
| Pharmaceuticals & Biotechnology | 5.6% | 5.5% |
| Cement & Cement Products | 1.9% | 4.6% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.28% |
| Base expense ratio (Direct) | 0.00% | 0.75% |
| Total expense ratio (Regular) | Not available | 2.83% |
| Base expense ratio (Regular) | 0.16% | 2.09% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Mahindra Manulife Equity Savings with
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Equity Savings Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Equity Savings Fund?
Aditya Birla Sun Life Msci India ETF is an ETF fund, Mahindra Manulife Equity Savings Fund is an Equity Savings fund, run by Aditya Birla Sun Life Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 39.8%. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Mahindra Manulife Equity Savings Fund 1.28%.
Which has the lower expense ratio, Aditya Birla Sun Life Msci India ETF or Mahindra Manulife Equity Savings Fund?
Aditya Birla Sun Life Msci India ETF charges less: 0.22% a year against 1.28%. These are the total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Equity Savings Fund overlap?
39.8%. They hold 43 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Msci India ETF or Mahindra Manulife Equity Savings Fund?
On SEBI's riskometer, Aditya Birla Sun Life Msci India ETF is rated Very High and Mahindra Manulife Equity Savings Fund Moderately High. Over their common history, the standard deviation of daily returns was 15.37% and 7.62% a year.
Can I invest in both Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Equity Savings Fund?
Yes. 39.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Equity Savings Fund?
Aditya Birla Sun Life Msci India ETF: Priya Sridhar, Mehul Dama. Mahindra Manulife Equity Savings Fund: Renjith Sivaram, Navin Matta, Rahul Pal, Kush Sonigara.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.