Axis Nifty India Defence Index Fund vs CPSE ETF
Direct Plan, Growth option · Data as on 30-10-2026
Axis Nifty India Defence Index Fund is an Index fund and CPSE ETF is a mutual fund. Axis Nifty India Defence Index Fund charges 0.65% a year and CPSE ETF 0.08% (Direct plans). Their portfolios overlap 21.9%: they hold 2 of the same securities.
Axis Nifty India Defence Index Fund
Index
- Expense ratio
- 0.65%
- NAV
- ₹9.65
Which is better, Axis Nifty India Defence Index or CPSE ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- CPSE ETF costs less: 0.08% a year against 0.65% (Direct plans).
- Axis Nifty India Defence Index fell less in its worst fall since 06-05-2026: −14.4% against −19.6%.
- CPSE ETF holds more in large companies: 86.9% of the fund in large caps against 51.7%.
- CPSE ETF is the larger fund: ₹18,645 Cr against ₹368 Cr.
- Their portfolios overlap 21.9%: 2 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 India Defence Index Fund | CPSE ETF |
|---|---|---|
| Fund house | Axis Mutual Fund | Nippon India Mutual Fund |
| Category | Index | Not available |
| AUM | ₹368 Cr (30-09-2026) | ₹18,645 Cr (30-09-2026) |
| NAV | ₹9.65 (Direct) | ₹88.53 (Direct) |
| Expense ratio (Direct) | 0.65% | 0.08% |
| Expense ratio (Regular) | 1.45% | Not available |
| Riskometer | Very High | Not available |
| Benchmark | Nifty India Defence TRI | Not available |
| Launch date | 29-04-2026 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Nandik Malik, Rohit Gautam | Not available |
| Exit load | Exit load of 0.25%, if redeemed within 15 days. | Not available |
Axis Nifty India Defence Index vs CPSE ETF: 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 India Defence Index Fund (Direct) | −6.25% | −5.28% | -- | -- | -- | -- | -- |
| CPSE ETF (Direct) | −2.75% | −6.25% | −18.12% | −6.49% | +18.55% | +24.55% | -- |
Axis Nifty India Defence Index vs CPSE ETF: Year-wise Returns
| Year | Axis Nifty India Defence IndexAxis Nifty India Defence Index | CPSE ETFCPSE ETF |
|---|---|---|
| 2026to date | -- | −3.39% |
| 2025 | -- | +7.18% |
| 2024 | -- | +28.03% |
| 2023 | -- | +75.62% |
| 2022 | -- | +27.95% |
| 2021 | -- | +46.00% |
Axis Nifty India Defence Index vs CPSE ETF: Rolling Returns
Every holding period of both funds, against Nifty India Defence TRI, the benchmark of Axis Nifty India Defence Index Fund
Axis Nifty India Defence Index vs CPSE ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty India Defence Index Fund (Direct) | CPSE ETF (Direct) |
|---|---|---|
| Return (CAGR) | −9.67% | +13.53% |
| Standard deviation | 22.28% | 21.70% |
| Sharpe ratio | -0.67 | 0.38 |
| Sortino ratio | -0.87 | 0.52 |
| Maximum drawdown | −14.4% (23-10-2026) | −54.1% (19-03-2020) |
| Beta | 1.00 | -- |
| Alpha | −0.38% | -- |
From daily NAVs, 06-05-2026 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.
Axis Nifty India Defence Index Fund (Direct)
CPSE ETF (Direct)
Nifty India Defence TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty India Defence Index Fund (Direct) | −14.4% | 08-09-2026 | 23-10-2026 | Not yet | -- | −13.0% |
| CPSE ETF (Direct) | −19.6% | 07-05-2026 | 23-10-2026 | Not yet | -- | −17.1% |
| Nifty India Defence TRI | −14.3% | 08-09-2026 | 23-10-2026 | Not yet | -- | −12.9% |
From daily values since 06-05-2026, the first day every fund has.
Axis Nifty India Defence Index vs CPSE ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty India Defence Index Fund, September 2026; CPSE ETF, September 2026
Holdings in common
- Overlap
- 21.9%
- Held by both
- 2
- Only in Axis Nifty India Defence Index
- 20
- Only in CPSE ETF
- 9
| Security | % of Axis Nifty India Defence Index | % of CPSE ETF |
|---|---|---|
| Bharat Electronics Limited | 20.01% | 20.19% |
| Cochin Shipyard Limited | 3.16% | 1.92% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.9% means 21.9% 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 India Defence Index Fund
| Security | % of fund |
|---|---|
| Hindustan Aeronautics Limited | 19.72% |
| Bharat Forge Limited | 13.31% |
| Solar Industries India Limited | 11.93% |
| MTAR Technologies Limited | 4.21% |
| Mazagon Dock Shipbuilders Limited | 3.99% |
Largest holdings only in CPSE ETF
| Security | % of fund |
|---|---|
| NTPC Limited | 20.22% |
| Power Grid Corporation of India Limited | 17.83% |
| Coal India Limited | 15.39% |
| Oil & Natural Gas Corporation Limited | 13.26% |
| NHPC Limited | 4.15% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty India Defence Index | CPSE ETF |
|---|---|---|
| Equity | 99.1% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.9% | 0.0% |
Market cap of stocks
| Market cap | Axis Nifty India Defence Index | CPSE ETF |
|---|---|---|
| Large Cap | 51.7% | 86.9% |
| Mid Cap | 23.0% | 11.2% |
| Small Cap | 24.4% | 1.9% |
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 India Defence Index | CPSE ETF |
|---|---|---|
| Aerospace & Defense | 59.2% | 20.2% |
| Power | 0.0% | 44.3% |
| Oil | 0.0% | 17.0% |
| Consumable Fuels | 0.0% | 15.4% |
| Auto Components | 13.3% | 0.0% |
| Chemicals & Petrochemicals | 11.9% | 0.0% |
| Industrial Manufacturing | 8.5% | 1.9% |
| Electrical Equipment | 4.2% | 0.0% |
| Agricultural, Commercial & Construction Vehicles | 1.9% | 0.0% |
| Construction | 0.0% | 1.2% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty India Defence Index vs CPSE ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty India Defence Index Fund | CPSE ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | 0.08% |
| Base expense ratio (Direct) | 0.20% | 0.06% |
| Total expense ratio (Regular) | 1.45% | Not available |
| Base expense ratio (Regular) | 0.90% | 0.00% |
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 India Defence Index Fund vs CPSE ETF: Frequently Asked Questions
What is the difference between Axis Nifty India Defence Index Fund and CPSE ETF?
Axis Nifty India Defence Index Fund is an Index fund, CPSE ETF is a mutual fund, run by Axis Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 21.9%. Axis Nifty India Defence Index Fund charges 0.65% a year and CPSE ETF 0.08%.
Which has the lower expense ratio, Axis Nifty India Defence Index Fund or CPSE ETF?
CPSE ETF charges less: 0.08% a year against 0.65%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Nifty India Defence Index Fund and CPSE ETF overlap?
21.9%. They hold 2 of the same securities, the largest shared ones being BEL, COCHINSHIP. From each fund's latest monthly portfolio.
Can I invest in both Axis Nifty India Defence Index Fund and CPSE ETF?
Yes. 21.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.