Axis NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis NIFTY Healthcare ETF is an ETF fund and Bandhan BSE Healthcare Index Fund is an Index fund. In the year to 30-10-2026, Axis NIFTY Healthcare ETF returned 11.1% and Bandhan BSE Healthcare Index Fund (Direct) returned 12.0%. Axis NIFTY Healthcare ETF charges 0.45% a year and Bandhan BSE Healthcare Index Fund 0.34%. Their portfolios overlap 71.9%: they hold 20 of the same securities.
Axis NIFTY Healthcare ETF
ETF
- 1 year return
- 11.1%
- Expense ratio
- 0.45%
- NAV
- ₹167.35
Bandhan BSE Healthcare Index Fund
Index
- 1 year return
- 12.0%
- Expense ratio
- 0.34%
- NAV
- ₹11.58
Which is better, Axis NIFTY Healthcare ETF or Bandhan BSE Healthcare Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan BSE Healthcare Index returned more over 1 year: 12.0% against 11.1%.
- Bandhan BSE Healthcare Index costs less: 0.34% a year against 0.45%.
- Axis NIFTY Healthcare ETF fell less in its worst fall since 09-09-2024: −15.7% against −16.2%.
- Axis NIFTY Healthcare ETF holds more in large companies: 47.8% of the fund in large caps against 35.0%.
- Axis NIFTY Healthcare ETF is the larger fund: ₹23 Cr against ₹21 Cr.
- Their portfolios overlap 71.9%: 20 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 NIFTY Healthcare ETF | Bandhan BSE Healthcare Index Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Bandhan Mutual Fund |
| Category | ETF | Index |
| AUM | ₹23 Cr (30-09-2026) | ₹21 Cr (31-08-2026) |
| NAV | ₹167.35 | ₹11.58 (Direct) |
| Expense ratio (Direct) | Not available | 0.34% |
| Expense ratio (Regular) | Not available | 1.15% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY Healthcare TRI | BSE Healthcare TRI |
| Launch date | 17-05-2021 | 06-09-2024 |
| Minimum investment | 50000 (Units) | ₹1,000 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Abhishek Jain |
| Exit load | N/A | • 0.25% if redeemed on or before 15 days from the allotment date. • Nil if redeemed after 15 days from allotment date. |
Axis NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index: 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 NIFTY Healthcare ETF | +1.90% | −1.58% | +10.36% | +11.09% | +21.10% | +14.16% | -- |
| Bandhan BSE Healthcare Index Fund (Direct) | +0.22% | −1.08% | +12.61% | +11.96% | -- | -- | -- |
Axis NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index: Year-wise Returns
| Year | Axis NIFTY Healthcare ETFAxis NIFTY Healthcare ETF | Bandhan BSE Healthcare IndexBandhan BSE Healthcare Index |
|---|---|---|
| 2026to date | +12.54% | +14.73% |
| 2025 | −1.84% | −2.98% |
| 2024 | +40.85% | -- |
| 2023 | +33.48% | -- |
| 2022 | −10.32% | -- |
Axis NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index: Rolling Returns
Every holding period of both funds, against Nifty Healthcare Index TRI, the benchmark of Axis NIFTY Healthcare ETF
Rolling returns
Every 1-year holding period, 285 of them, one for each trading day from 09-09-2025 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 NIFTY Healthcare ETF
Bandhan BSE Healthcare Index Fund (Direct)
Nifty Healthcare Index TRI
to
Oct 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 NIFTY Healthcare ETF | 9.5 | 28.1 | 22.1 | 31.2 | 9.1 | 0.0 | 0.0 | 7.5% | 7.8% | −4.7% | 18.2% | 0% |
| Bandhan BSE Healthcare Index | 15.5 | 26.8 | 20.1 | 28.2 | 9.5 | 0.0 | 0.0 | 6.9% | 7.2% | −4.0% | 19.1% | 30% |
| Nifty Healthcare Index TRI | 7.0 | 29.8 | 22.1 | 31.2 | 9.8 | 0.0 | 0.0 | 7.9% | 8.2% | −4.4% | 18.6% | -- |
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 Nifty Healthcare Index 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 09-09-2024. Past returns do not promise future returns.
Axis NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index: 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 02-09-2024 to 30-10-2026: 26 instalments, ₹2,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis NIFTY Healthcare ETFAxis NIFTY Healthcare ETF | ₹2,60,000 | ₹2,93,241 | ₹33,241 | 11.1% |
| Bandhan BSE Healthcare IndexBandhan BSE Healthcare Index Fund (Direct) | ₹2,60,000 | ₹2,95,489 | ₹35,489 | 11.9% |
Axis NIFTY Healthcare ETFAxis NIFTY Healthcare ETF
Bandhan BSE Healthcare IndexBandhan BSE Healthcare Index 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 NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis NIFTY Healthcare ETF | Bandhan BSE Healthcare Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.09% | +11.96% |
| Standard deviation | 14.03% | 13.61% |
| Sharpe ratio | 0.42 | 0.49 |
| Sortino ratio | 0.62 | 0.72 |
| Maximum drawdown | −9.2% (23-10-2026) | −10.0% (23-10-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.41% | −0.41% |
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 NIFTY Healthcare ETF | Bandhan BSE Healthcare Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.53% | +7.26% |
| Standard deviation | 14.80% | 14.58% |
| Sharpe ratio | 0.54 | 0.11 |
| Sortino ratio | 0.77 | 0.15 |
| Maximum drawdown | −20.7% (17-06-2022) | −16.2% (28-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.37% | −0.33% |
From daily NAVs, 21-05-2021 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 NIFTY Healthcare ETF
Bandhan BSE Healthcare Index Fund (Direct)
Nifty Healthcare Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis NIFTY Healthcare ETF | −15.7% | 02-01-2025 | 28-02-2025 | 29-07-2025 | 5 months | −3.0% |
| Bandhan BSE Healthcare Index Fund (Direct) | −16.2% | 02-01-2025 | 28-02-2025 | 29-07-2025 | 5 months | −3.8% |
| Nifty Healthcare Index TRI | −15.7% | 02-01-2025 | 28-02-2025 | 29-07-2025 | 5 months | −2.9% |
From daily values since 09-09-2024, 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 NIFTY Healthcare ETF
Bandhan BSE Healthcare Index Fund (Direct)
Nifty Healthcare Index TRI
Against Nifty Healthcare Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis NIFTY Healthcare ETF | 99% | 101% | 0.03% |
| Bandhan BSE Healthcare Index Fund (Direct) | 92% | 87% | 4.01% |
From month-end values since 09-09-2024. 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 NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index: Portfolio Overlap
From each fund's latest monthly portfolio: Axis NIFTY Healthcare ETF, September 2026; Bandhan BSE Healthcare Index Fund, August 2026
Holdings in common
- Overlap
- 71.9%
- Held by both
- 20
- Only in Axis NIFTY Healthcare ETF
- 0
- Only in Bandhan BSE Healthcare Index
- 105
| Security | % of Axis NIFTY Healthcare ETF | % of Bandhan BSE Healthcare Index |
|---|---|---|
| Sun Pharmaceutical Industries Limited | 17.00% | 12.95% |
| Divi's Laboratories Limited | 10.44% | 7.22% |
| Apollo Hospitals Enterprise Limited | 7.43% | 5.55% |
| Cipla Limited | 6.69% | 4.91% |
| Max Healthcare Institute Limited | 6.12% | 4.62% |
| Laurus Labs Limited | 6.82% | 4.48% |
| Torrent Pharmaceuticals Limited | 6.24% | 4.36% |
| Dr. Reddy's Laboratories Limited | 6.65% | 4.35% |
| Lupin Limited | 4.36% | 3.24% |
| Fortis Healthcare Limited | 3.55% | 2.90% |
| Aurobindo Pharma Limited | 4.08% | 2.89% |
| Glenmark Pharmaceuticals Limited | 3.11% | 2.28% |
| Alkem Laboratories Limited | 2.75% | 1.92% |
| Zydus Lifesciences Limited | 2.54% | 1.79% |
| Biocon Limited | 2.28% | 1.77% |
| IPCA Laboratories Limited | 2.37% | 1.69% |
| Mankind Pharma Limited | 2.51% | 1.64% |
| Gland Pharma Limited | 2.04% | 1.40% |
| Krishna Institute Of Medical Sciences Limited | 1.76% | 1.15% |
| Abbott India Limited | 1.25% | 0.81% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 71.9% means 71.9% 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 NIFTY Healthcare ETF
Every holding of this fund is also held by the other.
Largest holdings only in Bandhan BSE Healthcare Index Fund
| Security | % of fund |
|---|---|
| Aster DM Quality Care Limited | 1.22% |
| Sai Life Sciences Limited | 1.21% |
| Neuland Laboratories Limited | 1.21% |
| Acutaas Chemicals Limited | 1.00% |
| Wockhardt Limited | 0.96% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis NIFTY Healthcare ETF | Bandhan BSE Healthcare Index |
|---|---|---|
| Equity | 100.0% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | -0.1% |
Market cap of stocks
| Market cap | Axis NIFTY Healthcare ETF | Bandhan BSE Healthcare Index |
|---|---|---|
| Large Cap | 47.8% | 35.0% |
| Mid Cap | 48.4% | 38.9% |
| Small Cap | 3.8% | 25.9% |
| Not on AMFI's list | 0.0% | 0.3% |
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 | Axis NIFTY Healthcare ETF | Bandhan BSE Healthcare Index |
|---|---|---|
| Pharmaceuticals & Biotechnology | 81.1% | 77.1% |
| Healthcare Services | 18.9% | 22.5% |
| Healthcare Equipment & Supplies | 0.0% | 0.5% |
The six largest sectors of each fund's stocks, % of the fund.
Axis NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis NIFTY Healthcare ETF | Bandhan BSE Healthcare Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.34% |
| Base expense ratio (Direct) | 0.00% | 0.19% |
| Total expense ratio (Regular) | Not available | 1.15% |
| Base expense ratio (Regular) | 0.33% | 0.88% |
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.
Axis NIFTY Healthcare ETF vs Bandhan BSE Healthcare Index Fund: Frequently Asked Questions
What is the difference between Axis NIFTY Healthcare ETF and Bandhan BSE Healthcare Index Fund?
Axis NIFTY Healthcare ETF is an ETF fund, Bandhan BSE Healthcare Index Fund is an Index fund, run by Axis Mutual Fund and Bandhan Mutual Fund. Their portfolios overlap 71.9%. Axis NIFTY Healthcare ETF charges 0.45% a year and Bandhan BSE Healthcare Index Fund 0.34%.
Which has given higher returns, Axis NIFTY Healthcare ETF or Bandhan BSE Healthcare Index Fund?
Over 1 year: Axis NIFTY Healthcare ETF +11.09%, Bandhan BSE Healthcare Index Fund +11.96%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis NIFTY Healthcare ETF or Bandhan BSE Healthcare Index Fund?
Bandhan BSE Healthcare Index Fund charges less: 0.34% a year against 0.45%. These are the total expense ratios reported to AMFI.
How much do Axis NIFTY Healthcare ETF and Bandhan BSE Healthcare Index Fund overlap?
71.9%. They hold 20 of the same securities, the largest shared ones being SUNPHARMA, DIVISLAB, APOLLOHOSP. From each fund's latest monthly portfolio.
Which is riskier, Axis NIFTY Healthcare ETF or Bandhan BSE Healthcare Index Fund?
On SEBI's riskometer, Axis NIFTY Healthcare ETF is rated Very High and Bandhan BSE Healthcare Index Fund Very High. Over 1 years, the standard deviation of daily returns was 14.03% and 13.61% a year.
Can I invest in both Axis NIFTY Healthcare ETF and Bandhan BSE Healthcare Index Fund?
Yes. 71.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis NIFTY Healthcare ETF and Bandhan BSE Healthcare Index Fund?
Axis NIFTY Healthcare ETF: Nandik Malik, Rohit Gautam. Bandhan BSE Healthcare Index Fund: Abhishek Jain.
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.