Axis Nifty India Defence Index Fund vs Mirae Asset BSE India Defence ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis Nifty India Defence Index Fund is an Index fund and Mirae Asset BSE India Defence ETF is an ETF fund. Axis Nifty India Defence Index Fund charges 0.65% a year and Mirae Asset BSE India Defence ETF 0.64%. Their portfolios overlap 72.7%: they hold 20 of the same securities.
Axis Nifty India Defence Index Fund
Index
- Expense ratio
- 0.65%
- NAV
- ₹9.65
Mirae Asset BSE India Defence ETF
ETF
- Expense ratio
- 0.64%
- NAV
- ₹72.90
Which is better, Axis Nifty India Defence Index or Mirae Asset BSE India Defence ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset BSE India Defence ETF costs less: 0.64% a year against 0.65%.
- Mirae Asset BSE India Defence ETF fell less in its worst fall since 06-05-2026: −14.3% against −14.4%.
- Axis Nifty India Defence Index is the larger fund: ₹368 Cr against ₹183 Cr.
- Their portfolios overlap 72.7%: 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 India Defence Index Fund | Mirae Asset BSE India Defence ETF |
|---|---|---|
| Fund house | Axis Mutual Fund | Mirae Asset Mutual Fund |
| Category | Index | ETF |
| AUM | ₹368 Cr (30-09-2026) | ₹183 Cr (30-09-2026) |
| NAV | ₹9.65 (Direct) | ₹72.90 |
| Expense ratio (Direct) | 0.65% | Not available |
| Expense ratio (Regular) | 1.45% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Defence TRI | BSE India Defence TRI (Total Return Index) |
| Launch date | 29-04-2026 | 13-02-2026 |
| Minimum investment | ₹100 | On exchange in multiple of 1 unit. With AMC: In multiples of 5,000 units |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Ekta Gala, amp, Vishal Singh |
| Exit load | Exit load of 0.25%, if redeemed within 15 days. | NIL |
Axis Nifty India Defence Index vs Mirae Asset BSE India Defence 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% | -- | -- | -- | -- | -- |
| Mirae Asset BSE India Defence ETF | −5.75% | −5.43% | −1.24% | -- | -- | -- | -- |
Axis Nifty India Defence Index vs Mirae Asset BSE India Defence 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 Mirae Asset BSE India Defence 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) | Mirae Asset BSE India Defence ETF |
|---|---|---|
| Return (CAGR) | −9.67% | +12.51% |
| Standard deviation | 22.28% | 24.02% |
| Sharpe ratio | -0.67 | 0.30 |
| Sortino ratio | -0.87 | 0.41 |
| Maximum drawdown | −14.4% (23-10-2026) | −15.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.38% | −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)
Mirae Asset BSE India Defence ETF
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% |
| Mirae Asset BSE India Defence ETF | −14.3% | 08-09-2026 | 23-10-2026 | Not yet | -- | −12.9% |
| 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 Mirae Asset BSE India Defence ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty India Defence Index Fund, September 2026; Mirae Asset BSE India Defence ETF, September 2026
Holdings in common
- Overlap
- 72.7%
- Held by both
- 20
- Only in Axis Nifty India Defence Index
- 2
- Only in Mirae Asset BSE India Defence ETF
- 13
| Security | % of Axis Nifty India Defence Index | % of Mirae Asset BSE India Defence ETF |
|---|---|---|
| Bharat Electronics Limited | 20.01% | 15.45% |
| Hindustan Aeronautics Limited | 19.72% | 14.96% |
| Solar Industries India Limited | 11.93% | 13.29% |
| Mazagon Dock Shipbuilders Limited | 3.99% | 4.51% |
| Astra Microwave Products Limited | 3.44% | 3.85% |
| Data Patterns (India) Limited | 3.24% | 3.48% |
| Cochin Shipyard Limited | 3.16% | 3.09% |
| Bharat Forge Limited | 13.31% | 3.01% |
| Bharat Dynamics Limited | 2.54% | 2.83% |
| Zen Technologies Limited | 1.84% | 2.06% |
| Apollo Micro Systems Limited | 1.64% | 1.84% |
| Garden Reach Shipbuilders & Engineers Limited | 1.59% | 1.74% |
| Paras Defence and Space Technologies Limited | 1.16% | 1.30% |
| Aequs Limited | 1.15% | 1.99% |
| AXISCADES Technologies Limited | 0.99% | 1.11% |
| MTAR Technologies Limited | 4.21% | 0.98% |
| Mishra Dhatu Nigam Limited | 0.53% | 0.60% |
| BEML Limited | 1.89% | 0.45% |
| Unimech Aerospace and Manufacturing Limited | 0.38% | 0.49% |
| Dynamatic Technologies Limited | 1.33% | 0.31% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 72.7% means 72.7% 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 |
|---|---|
| Centum Electronics Limited | 0.93% |
| Sigma Advanced Systems Limited | 0.08% |
Largest holdings only in Mirae Asset BSE India Defence ETF
| Security | % of fund |
|---|---|
| Larsen & Toubro Ltd. | 5.13% |
| Mahindra & Mahindra Ltd. | 5.02% |
| Adani Enterprises Ltd. | 5.02% |
| Ashok Leyland Ltd. | 2.54% |
| Cyient DLM Ltd. | 0.97% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty India Defence Index | Mirae Asset BSE India Defence 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 | Mirae Asset BSE India Defence ETF |
|---|---|---|
| Large Cap | 51.7% | 58.9% |
| Mid Cap | 23.0% | 16.0% |
| Small Cap | 24.4% | 25.2% |
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 | Mirae Asset BSE India Defence ETF |
|---|---|---|
| Aerospace & Defense | 59.2% | 53.5% |
| Auto Components | 13.3% | 3.4% |
| Chemicals & Petrochemicals | 11.9% | 13.3% |
| Industrial Manufacturing | 8.5% | 8.6% |
| Construction | 0.0% | 5.1% |
| Automobiles | 0.0% | 5.0% |
| Metals & Minerals Trading | 0.0% | 5.0% |
| Electrical Equipment | 4.2% | 1.0% |
| Agricultural, Commercial & Construction Vehicles | 1.9% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty India Defence Index vs Mirae Asset BSE India Defence ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty India Defence Index Fund | Mirae Asset BSE India Defence ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | Not available |
| Base expense ratio (Direct) | 0.20% | 0.00% |
| Total expense ratio (Regular) | 1.45% | Not available |
| Base expense ratio (Regular) | 0.90% | 0.28% |
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 Mirae Asset BSE India Defence ETF: Frequently Asked Questions
What is the difference between Axis Nifty India Defence Index Fund and Mirae Asset BSE India Defence ETF?
Axis Nifty India Defence Index Fund is an Index fund, Mirae Asset BSE India Defence ETF is an ETF fund, run by Axis Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 72.7%. Axis Nifty India Defence Index Fund charges 0.65% a year and Mirae Asset BSE India Defence ETF 0.64%.
Which has the lower expense ratio, Axis Nifty India Defence Index Fund or Mirae Asset BSE India Defence ETF?
Mirae Asset BSE India Defence ETF charges less: 0.64% a year against 0.65%. These are the total expense ratios reported to AMFI.
How much do Axis Nifty India Defence Index Fund and Mirae Asset BSE India Defence ETF overlap?
72.7%. They hold 20 of the same securities, the largest shared ones being BEL, HAL, SOLARINDS. From each fund's latest monthly portfolio.
Which is riskier, Axis Nifty India Defence Index Fund or Mirae Asset BSE India Defence ETF?
On SEBI's riskometer, Axis Nifty India Defence Index Fund is rated Very High and Mirae Asset BSE India Defence ETF Very High. Over their common history, the standard deviation of daily returns was 22.28% and 24.02% a year.
Can I invest in both Axis Nifty India Defence Index Fund and Mirae Asset BSE India Defence ETF?
Yes. 72.7% 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 India Defence Index Fund and Mirae Asset BSE India Defence ETF?
Axis Nifty India Defence Index Fund: Nandik Malik, Rohit Gautam. Mirae Asset BSE India Defence ETF: Ekta Gala, amp, Vishal Singh.
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.