Axis Nifty50 Equal Weight Index Fund vs SBI Equity Minimum Variance Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Nifty50 Equal Weight Index Fund is an Index fund and SBI Equity Minimum Variance Fund is a Thematic fund. Axis Nifty50 Equal Weight Index Fund charges 1.25% a year and SBI Equity Minimum Variance Fund 0.51% (Direct plans). Their portfolios overlap 60.6%: they hold 49 of the same securities.
Axis Nifty50 Equal Weight Index Fund
Index
- Expense ratio
- 1.25%
- NAV
- ₹9.58
SBI Equity Minimum Variance Fund
Thematic
- Expense ratio
- 0.51%
- NAV
- ₹23.31
Which is better, Axis Nifty50 Equal Weight Index or SBI Equity Minimum Variance? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Equity Minimum Variance costs less: 0.51% a year against 1.25% (Direct plans).
- SBI Equity Minimum Variance fell less in its worst fall since 28-07-2026: −11.1% against −11.4%.
- SBI Equity Minimum Variance is the larger fund: ₹194 Cr against ₹87 Cr.
- Their portfolios overlap 60.6%: 49 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 Nifty50 Equal Weight Index Fund | SBI Equity Minimum Variance Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | SBI Mutual Fund |
| Category | Index | Thematic |
| AUM | ₹87 Cr (30-09-2026) | ₹194 Cr (30-09-2026) |
| NAV | ₹9.58 (Direct) | ₹23.31 (Direct) |
| Expense ratio (Direct) | 1.25% | 0.51% |
| Expense ratio (Regular) | 2.04% | 0.85% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Equal Weight Index | Nifty 50 TRI |
| Launch date | 23-07-2026 | 19-03-2019 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Raviprakash Sharma |
| Exit load | Exit load of 0.25%, if redeemed within 15 days. | Exit load of 0.5% if redeemed within 15 days. |
Axis Nifty50 Equal Weight Index vs SBI Equity Minimum Variance: 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 Nifty50 Equal Weight Index Fund (Direct) | +0.97% | −6.17% | -- | -- | -- | -- | -- |
| SBI Equity Minimum Variance Fund (Direct) | +0.96% | −6.84% | −3.97% | −7.93% | +6.88% | +8.10% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Axis Nifty50 Equal Weight Index vs SBI Equity Minimum Variance: Year-wise Returns
| Year | Axis Nifty50 Equal Weight IndexAxis Nifty50 Equal Weight Index | SBI Equity Minimum VarianceSBI Equity Minimum Variance |
|---|---|---|
| 2026to date | -- | −8.13% |
| 2025 | -- | +7.43% |
| 2024 | -- | +8.40% |
| 2023 | -- | +28.44% |
| 2022 | -- | +6.52% |
| 2021 | -- | +24.35% |
Axis Nifty50 Equal Weight Index vs SBI Equity Minimum Variance: Rolling Returns
Every holding period of both funds, against NIFTY50 Equal Weight TRI, the benchmark of Axis Nifty50 Equal Weight Index Fund
Axis Nifty50 Equal Weight Index vs SBI Equity Minimum Variance: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty50 Equal Weight Index Fund (Direct) | SBI Equity Minimum Variance Fund (Direct) |
|---|---|---|
| Return (CAGR) | −18.47% | +11.86% |
| Standard deviation | 11.70% | 14.87% |
| Sharpe ratio | -2.03 | 0.45 |
| Sortino ratio | -2.64 | 0.62 |
| Maximum drawdown | −11.4% (08-10-2026) | −33.0% (23-03-2020) |
| Beta | 1.00 | 0.79 |
| Alpha | −0.20% | +2.13% |
From daily NAVs, 28-07-2026 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 Nifty50 Equal Weight Index Fund (Direct)
SBI Equity Minimum Variance Fund (Direct)
NIFTY50 Equal Weight TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty50 Equal Weight Index Fund (Direct) | −11.4% | 03-08-2026 | 08-10-2026 | Not yet | -- | −8.1% |
| SBI Equity Minimum Variance Fund (Direct) | −11.1% | 03-08-2026 | 08-10-2026 | Not yet | -- | −7.8% |
| NIFTY50 Equal Weight TRI | −11.3% | 03-08-2026 | 08-10-2026 | Not yet | -- | −8.0% |
From daily values since 28-07-2026, the first day every fund has.
Axis Nifty50 Equal Weight Index vs SBI Equity Minimum Variance: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty50 Equal Weight Index Fund, September 2026; SBI Equity Minimum Variance Fund, September 2026
Holdings in common
- Overlap
- 60.6%
- Held by both
- 49
- Only in Axis Nifty50 Equal Weight Index
- 1
- Only in SBI Equity Minimum Variance
- 1
| Security | % of Axis Nifty50 Equal Weight Index | % of SBI Equity Minimum Variance |
|---|---|---|
| Dr. Reddy's Laboratories Limited | 2.11% | 3.55% |
| Coal India Limited | 2.05% | 4.89% |
| Tech Mahindra Limited | 2.02% | 4.58% |
| Sun Pharmaceutical Industries Limited | 2.01% | 8.25% |
| ITC Limited | 2.01% | 5.36% |
| Hindustan Unilever Limited | 1.99% | 5.80% |
| Tata Consumer Products Limited | 1.98% | 4.77% |
| Nestle India Limited | 1.97% | 7.70% |
| Cipla Limited | 1.97% | 4.82% |
| Bharti Airtel Limited | 2.02% | 1.95% |
| Apollo Hospitals Enterprise Limited | 1.89% | 7.98% |
| Asian Paints Limited | 2.02% | 1.39% |
| Eternal Limited | 1.96% | 1.22% |
| HCL Technologies Limited | 2.01% | 1.21% |
| Bajaj Auto Limited | 1.98% | 1.17% |
| Kotak Mahindra Bank Limited | 2.12% | 1.11% |
| JSW Steel Limited | 2.01% | 1.09% |
| Titan Company Limited | 1.93% | 1.09% |
| Tata Consultancy Services Limited | 2.02% | 1.05% |
| Eicher Motors Limited | 1.99% | 1.05% |
| Hindalco Industries Limited | 1.98% | 1.05% |
| Tata Steel Limited | 2.01% | 1.04% |
| Grasim Industries Limited | 1.97% | 1.03% |
| Oil & Natural Gas Corporation Limited | 1.97% | 1.02% |
| Adani Ports and Special Economic Zone Limited | 2.06% | 1.01% |
| Infosys Limited | 2.04% | 1.01% |
| UltraTech Cement Limited | 2.02% | 1.01% |
| SBI Life Insurance Company Limited | 2.00% | 1.01% |
| ICICI Bank Limited | 2.04% | 1.00% |
| Bajaj Finance Limited | 1.98% | 1.00% |
| Bharat Electronics Limited | 2.03% | 0.99% |
| Bajaj Finserv Limited | 2.01% | 0.99% |
| Mahindra & Mahindra Limited | 2.00% | 0.99% |
| Shriram Finance Limited | 2.03% | 0.98% |
| Larsen & Toubro Limited | 1.99% | 0.98% |
| InterGlobe Aviation Limited | 2.07% | 0.97% |
| Adani Enterprises Limited | 2.04% | 0.97% |
| HDFC Life Insurance Company Limited | 2.02% | 0.97% |
| State Bank of India | 2.00% | 0.97% |
| Reliance Industries Limited | 1.99% | 0.97% |
| Axis Bank Limited | 2.06% | 0.96% |
| NTPC Limited | 2.03% | 0.96% |
| Power Grid Corporation of India Limited | 1.98% | 0.96% |
| Jio Financial Services Limited | 1.96% | 0.96% |
| HDFC Bank Limited | 1.98% | 0.95% |
| Maruti Suzuki India Limited | 2.04% | 0.89% |
| Max Healthcare Institute Limited | 1.88% | 0.88% |
| Tata Motors Passenger Vehicles Limited | 2.00% | 0.87% |
| Trent Limited | 2.02% | 0.84% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 60.6% means 60.6% 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 Nifty50 Equal Weight Index Fund
| Security | % of fund |
|---|---|
| BSE Limited | 1.99% |
Largest holdings only in SBI Equity Minimum Variance Fund
| Security | % of fund |
|---|---|
| Wipro Ltd. | 0.97% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty50 Equal Weight Index | SBI Equity Minimum Variance |
|---|---|---|
| Equity | 100.3% | 99.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.3% | 0.8% |
Market cap of stocks
| Market cap | Axis Nifty50 Equal Weight Index | SBI Equity Minimum Variance |
|---|---|---|
| Large Cap | 96.3% | 94.8% |
| Mid Cap | 4.0% | 4.4% |
| 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 Nifty50 Equal Weight Index | SBI Equity Minimum Variance |
|---|---|---|
| Pharmaceuticals & Biotechnology | 6.1% | 16.6% |
| Diversified FMCG | 4.0% | 11.2% |
| Banks | 10.2% | 5.0% |
| Automobiles | 10.0% | 5.0% |
| Healthcare Services | 3.8% | 8.9% |
| IT - Software | 8.1% | 8.8% |
| Finance | 8.0% | 3.9% |
| Food Products | 2.0% | 7.7% |
| Insurance | 4.0% | 2.0% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty50 Equal Weight Index vs SBI Equity Minimum Variance: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty50 Equal Weight Index Fund | SBI Equity Minimum Variance Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.25% | 0.51% |
| Base expense ratio (Direct) | 0.20% | 0.36% |
| Total expense ratio (Regular) | 2.04% | 0.85% |
| Base expense ratio (Regular) | 0.90% | 0.65% |
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 SBI Equity Minimum Variance with
Axis Nifty50 Equal Weight Index Fund vs SBI Equity Minimum Variance Fund: Frequently Asked Questions
What is the difference between Axis Nifty50 Equal Weight Index Fund and SBI Equity Minimum Variance Fund?
Axis Nifty50 Equal Weight Index Fund is an Index fund, SBI Equity Minimum Variance Fund is a Thematic fund, run by Axis Mutual Fund and SBI Mutual Fund. Their portfolios overlap 60.6%. Axis Nifty50 Equal Weight Index Fund charges 1.25% a year and SBI Equity Minimum Variance Fund 0.51%.
Which has the lower expense ratio, Axis Nifty50 Equal Weight Index Fund or SBI Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund charges less: 0.51% a year against 1.25%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Nifty50 Equal Weight Index Fund and SBI Equity Minimum Variance Fund overlap?
60.6%. They hold 49 of the same securities, the largest shared ones being DRREDDY, COALINDIA, TECHM. From each fund's latest monthly portfolio.
Which is riskier, Axis Nifty50 Equal Weight Index Fund or SBI Equity Minimum Variance Fund?
On SEBI's riskometer, Axis Nifty50 Equal Weight Index Fund is rated Very High and SBI Equity Minimum Variance Fund Very High. Over their common history, the standard deviation of daily returns was 11.70% and 14.87% a year.
Can I invest in both Axis Nifty50 Equal Weight Index Fund and SBI Equity Minimum Variance Fund?
Yes. 60.6% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Nifty50 Equal Weight Index Fund and SBI Equity Minimum Variance Fund?
Axis Nifty50 Equal Weight Index Fund: Nandik Malik, Rohit Gautam. SBI Equity Minimum Variance Fund: Raviprakash Sharma.
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.