Axis BSE Sensex ETF vs DSP Large Cap Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis BSE Sensex ETF is an ETF fund and DSP Large Cap Fund is a Large Cap fund. In the 3 years to 30-10-2026, Axis BSE Sensex ETF returned 6.2% a year and DSP Large Cap Fund (Direct) returned 10.9% a year. Axis BSE Sensex ETF charges 0.04% a year and DSP Large Cap Fund 1.18%. Their portfolios overlap 61.0%: they hold 18 of the same securities.
Which is better, Axis BSE Sensex ETF or DSP Large Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Large Cap returned more over 3 years: 10.9% a year against 6.2%.
- DSP Large Cap returned more over 1 year: −8.6% against −10.9%.
- Axis BSE Sensex ETF costs less: 0.04% a year against 1.18%.
- DSP Large Cap swung less over 3 years: a standard deviation of 12.2% a year against 13.2%.
- DSP Large Cap fell less in its worst fall since 29-03-2023: −13.3% against −16.0%.
- DSP Large Cap is the larger fund: ₹6,642 Cr against ₹121 Cr.
- Their portfolios overlap 61.0%: 18 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 | Axis BSE Sensex ETF | DSP Large Cap Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | DSP Mutual Fund |
| Category | ETF | Large Cap |
| AUM | ₹121 Cr (30-09-2026) | ₹6,642 Cr (30-09-2026) |
| NAV | ₹77.37 | ₹484.71 (Direct) |
| Expense ratio (Direct) | Not available | 1.18% |
| Expense ratio (Regular) | Not available | 2.07% |
| Riskometer | Very High | Very High |
| Benchmark | BSE SENSEX TRI | Nifty 100 TRI |
| Launch date | 24-03-2023 | 10-03-2003 |
| Minimum investment | 40000 (Units) | ₹100 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Anish Tawakley |
| Exit load | Nil | Exit load of 1% if redeemed less than 12 months |
Axis BSE Sensex ETF vs DSP Large Cap: 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 |
|---|---|---|---|---|---|---|---|
| Axis BSE Sensex ETF | +2.77% | −4.30% | −2.43% | −10.95% | +6.21% | -- | -- |
| DSP Large Cap Fund (Direct) | +1.48% | −4.89% | −2.57% | −8.56% | +10.95% | +9.10% | +10.38% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
Category average: the average of the 35 Large Cap funds, same plan type.
Axis BSE Sensex ETF vs DSP Large Cap: Year-wise Returns
| Year | Axis BSE Sensex ETFAxis BSE Sensex ETF | DSP Large CapDSP Large Cap |
|---|---|---|
| 2026to date | −11.84% | −9.39% |
| 2025 | +10.32% | +9.40% |
| 2024 | +9.31% | +21.50% |
| 2023 | -- | +27.60% |
| 2022 | -- | +2.24% |
| 2021 | -- | +20.45% |
Axis BSE Sensex ETF vs DSP Large Cap: Rolling Returns
Every holding period of both funds, against BSE SENSEX TRI, the benchmark of Axis BSE Sensex ETF
Rolling returns
Every 3-year holding period, 146 of them, one for each trading day from 30-03-2026 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis BSE Sensex ETF
DSP Large Cap Fund (Direct)
BSE SENSEX TRI
to
Apr 2026May 2023
to
May 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis BSE Sensex ETF | 0.0 | 13.7 | 80.1 | 6.2 | 0.0 | 0.0 | 0.0 | 7.1% | 7.1% | 3.8% | 11.2% | 0% |
| DSP Large Cap | 0.0 | 0.0 | 11.7 | 65.5 | 22.8 | 0.0 | 0.0 | 13.1% | 13.0% | 9.2% | 17.6% | 100% |
| BSE SENSEX TRI | 0.0 | 12.3 | 81.5 | 6.2 | 0.0 | 0.0 | 0.0 | 7.2% | 7.2% | 3.9% | 11.3% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is BSE SENSEX TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 29-03-2023. Past returns do not promise future returns.
Axis BSE Sensex ETF vs DSP Large Cap: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 29-03-2023 to 30-10-2026: 44 instalments, ₹4,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis BSE Sensex ETFAxis BSE Sensex ETF | ₹4,40,000 | ₹4,50,676 | ₹10,676 | 1.3% |
| DSP Large CapDSP Large Cap Fund (Direct) | ₹4,40,000 | ₹4,81,072 | ₹41,072 | 4.8% |
Axis BSE Sensex ETFAxis BSE Sensex ETF
DSP Large CapDSP Large Cap Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis BSE Sensex ETF vs DSP Large Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis BSE Sensex ETF | DSP Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.95% | −8.56% |
| Standard deviation | 13.98% | 12.79% |
| Sharpe ratio | -1.16 | -1.08 |
| Sortino ratio | -1.55 | -1.45 |
| Maximum drawdown | −16.0% (31-03-2026) | −13.3% (31-03-2026) |
| Beta | 1.00 | 0.89 |
| Alpha | −0.06% | −1.34% |
From daily NAVs, 30-10-2025 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.
| Measure | Axis BSE Sensex ETF | DSP Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.21% | +10.95% |
| Standard deviation | 13.25% | 12.19% |
| Sharpe ratio | 0.01 | 0.40 |
| Sortino ratio | 0.02 | 0.57 |
| Maximum drawdown | −16.0% (31-03-2026) | −13.3% (31-03-2026) |
| Beta | 1.00 | 0.86 |
| Alpha | −0.11% | +2.30% |
From daily NAVs, 30-10-2023 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.
| Measure | Axis BSE Sensex ETF | DSP Large Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.45% | +11.06% |
| Standard deviation | 12.62% | 16.29% |
| Sharpe ratio | 0.18 | 0.31 |
| Sortino ratio | 0.26 | 0.42 |
| Maximum drawdown | −16.0% (31-03-2026) | −40.3% (23-03-2020) |
| Beta | 1.00 | 0.99 |
| Alpha | −0.13% | −0.84% |
From daily NAVs, 29-03-2023 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.
Axis BSE Sensex ETF
DSP Large Cap Fund (Direct)
BSE SENSEX TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis BSE Sensex ETF | −16.0% | 02-01-2026 | 31-03-2026 | Not yet | -- | −12.4% |
| DSP Large Cap Fund (Direct) | −13.3% | 02-01-2026 | 31-03-2026 | Not yet | -- | −9.8% |
| BSE SENSEX TRI | −16.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −12.4% |
From daily values since 29-03-2023, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis BSE Sensex ETF
DSP Large Cap Fund (Direct)
BSE SENSEX TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis BSE Sensex ETF
DSP Large Cap Fund (Direct)
BSE SENSEX TRI
Against BSE SENSEX TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis BSE Sensex ETF | 99% | 100% | 0.05% |
| DSP Large Cap Fund (Direct) | 108% | 78% | 3.82% |
From month-end values since 29-03-2023. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis BSE Sensex ETF vs DSP Large Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Axis BSE Sensex ETF, September 2026; DSP Large Cap Fund, September 2026
Holdings in common
- Overlap
- 61.0%
- Held by both
- 18
- Only in Axis BSE Sensex ETF
- 12
- Only in DSP Large Cap
- 23
| Security | % of Axis BSE Sensex ETF | % of DSP Large Cap |
|---|---|---|
| HDFC Bank Limited | 12.59% | 10.08% |
| ICICI Bank Limited | 11.03% | 9.72% |
| Bharti Airtel Limited | 6.38% | 6.04% |
| Larsen & Toubro Limited | 5.11% | 4.74% |
| Axis Bank Limited | 4.08% | 5.91% |
| Reliance Industries Limited | 9.15% | 4.06% |
| Infosys Limited | 4.08% | 3.99% |
| Mahindra & Mahindra Limited | 3.07% | 4.84% |
| ITC Limited | 2.96% | 3.97% |
| Kotak Mahindra Bank Limited | 3.57% | 2.50% |
| Maruti Suzuki India Limited | 1.79% | 2.38% |
| NTPC Limited | 1.78% | 3.08% |
| UltraTech Cement Limited | 1.50% | 2.73% |
| Asian Paints Limited | 1.27% | 2.32% |
| Power Grid Corporation of India Limited | 1.38% | 1.18% |
| InterGlobe Aviation Limited | 1.30% | 0.91% |
| State Bank of India | 4.64% | 0.79% |
| Trent Limited | 1.01% | 0.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 61.0% means 61.0% 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 Axis BSE Sensex ETF
| Security | % of fund |
|---|---|
| Bajaj Finance Limited | 2.99% |
| Eternal Limited | 2.69% |
| Tata Consultancy Services Limited | 2.41% |
| Sun Pharmaceutical Industries Limited | 2.28% |
| Titan Company Limited | 2.18% |
Largest holdings only in DSP Large Cap Fund
| Security | % of fund |
|---|---|
| SBI Life Insurance Co Limited | 2.78% |
| Cipla Limited | 2.76% |
| HDFC Life Insurance Co Limited | 2.74% |
| DLF Limited | 2.19% |
| Hero MotoCorp Limited | 2.12% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis BSE Sensex ETF | DSP Large Cap |
|---|---|---|
| Equity | 100.0% | 98.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 2.0% |
Market cap of stocks
| Market cap | Axis BSE Sensex ETF | DSP Large Cap |
|---|---|---|
| Large Cap | 100.0% | 90.3% |
| Mid Cap | 0.0% | 7.7% |
| Small Cap | 0.0% | 0.0% |
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 | Axis BSE Sensex ETF | DSP Large Cap |
|---|---|---|
| Banks | 35.9% | 29.3% |
| Automobiles | 4.9% | 11.1% |
| Petroleum Products | 9.2% | 5.8% |
| IT - Software | 9.1% | 4.0% |
| Insurance | 0.0% | 7.1% |
| Telecom - Services | 6.4% | 6.5% |
| Construction | 5.1% | 4.7% |
| Diversified FMCG | 4.9% | 4.0% |
The six largest sectors of each fund's stocks, % of the fund.
Axis BSE Sensex ETF vs DSP Large Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis BSE Sensex ETF | DSP Large Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.18% |
| Base expense ratio (Direct) | 0.00% | 0.79% |
| Total expense ratio (Regular) | Not available | 2.07% |
| Base expense ratio (Regular) | 0.03% | 1.55% |
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
Axis BSE Sensex ETF vs DSP Large Cap Fund: Frequently Asked Questions
What is the difference between Axis BSE Sensex ETF and DSP Large Cap Fund?
Axis BSE Sensex ETF is an ETF fund, DSP Large Cap Fund is a Large Cap fund, run by Axis Mutual Fund and DSP Mutual Fund. Their portfolios overlap 61.0%. Axis BSE Sensex ETF charges 0.04% a year and DSP Large Cap Fund 1.18%.
Which has given higher returns, Axis BSE Sensex ETF or DSP Large Cap Fund?
Over 1 year: Axis BSE Sensex ETF −10.95%, DSP Large Cap Fund −8.56%. Over 3 years: Axis BSE Sensex ETF +6.21% a year, DSP Large Cap Fund +10.95% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis BSE Sensex ETF or DSP Large Cap Fund?
Axis BSE Sensex ETF charges less: 0.04% a year against 1.18%. These are the total expense ratios reported to AMFI.
How much do Axis BSE Sensex ETF and DSP Large Cap Fund overlap?
61.0%. They hold 18 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Axis BSE Sensex ETF or DSP Large Cap Fund?
On SEBI's riskometer, Axis BSE Sensex ETF is rated Very High and DSP Large Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 13.25% and 12.19% a year.
Which is better for SIP, Axis BSE Sensex ETF or DSP Large Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,63,956 in Axis BSE Sensex ETF (XIRR -1.0% a year) and ₹3,78,918 in DSP Large Cap Fund (XIRR 1.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis BSE Sensex ETF and DSP Large Cap Fund?
Yes. 61.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis BSE Sensex ETF and DSP Large Cap Fund?
Axis BSE Sensex ETF: Nandik Malik, Rohit Gautam. DSP Large Cap Fund: Anish Tawakley.
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.