Bandhan Money Market Fund vs SBI Banking & PSU Debt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Money Market Fund is a Money Market fund and SBI Banking & PSU Debt Fund is a Banking & PSU fund. In the 3 years to 30-10-2026, Bandhan Money Market Fund (Direct) returned 7.3% a year and SBI Banking & PSU Debt Fund (Direct) returned 7.1% a year. Bandhan Money Market Fund charges 0.11% a year and SBI Banking & PSU Debt Fund 0.41% (Direct plans). Their portfolios overlap 11.7%: they hold 10 of the same securities.
Bandhan Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.11%
- NAV
- ₹47.54
SBI Banking & PSU Debt Fund
Banking & PSU
- 3 year return
- 7.1%
- Expense ratio
- 0.41%
- NAV
- ₹3,539.20
Which is better, Bandhan Money Market or SBI Banking & PSU Debt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Money Market returned more over 5 years: 6.7% a year against 6.2%.
- Bandhan Money Market returned more over 3 years: 7.3% a year against 7.1%.
- Bandhan Money Market costs less: 0.11% a year against 0.41% (Direct plans).
- Bandhan Money Market swung less over 3 years: a standard deviation of 0.4% a year against 1.0%.
- Bandhan Money Market fell less in its worst fall since 18-11-2013: −1.3% against −3.2%.
- Bandhan Money Market is the larger fund: ₹13,129 Cr against ₹3,512 Cr.
- Their portfolios overlap 11.7%: 10 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 | Bandhan Money Market Fund | SBI Banking & PSU Debt Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | SBI Mutual Fund |
| Category | Money Market | Banking & PSU |
| AUM | ₹13,129 Cr (30-09-2026) | ₹3,512 Cr (30-09-2026) |
| NAV | ₹47.54 (Direct) | ₹3,539.20 (Direct) |
| Expense ratio (Direct) | 0.11% | 0.41% |
| Expense ratio (Regular) | 0.36% | 0.77% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Money Market Index A-I | NIFTY Banking & PSU Debt Index A-II |
| Launch date | 18-02-2003 | 09-10-2009 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Brijesh Shah, Gautam Kaul | Rajeev Radhakrishnan, Ardhendu Bhattacharya |
| Exit load | Nil | Nil |
Bandhan Money Market vs SBI Banking & PSU Debt: 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Money Market Fund (Direct) | +0.33% | +1.52% | +3.31% | +6.46% | +7.34% | +6.72% | +6.47% |
| SBI Banking & PSU Debt Fund (Direct) | +0.14% | +0.61% | +2.84% | +4.41% | +7.07% | +6.15% | +7.06% |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | +6.60% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
Category average: the average of the 27 Money Market funds and the 19 Banking & PSU funds, same plan type.
Bandhan Money Market vs SBI Banking & PSU Debt: Year-wise Returns
| Year | Bandhan Money MarketBandhan Money Market | SBI Banking & PSU DebtSBI Banking & PSU Debt |
|---|---|---|
| 2026to date | +5.36% | +3.81% |
| 2025 | +7.60% | +7.86% |
| 2024 | +7.84% | +8.20% |
| 2023 | +7.43% | +7.06% |
| 2022 | +4.74% | +3.35% |
| 2021 | +3.64% | +3.07% |
Bandhan Money Market vs SBI Banking & PSU Debt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,417 of them, one for each trading day from 18-11-2016 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.
Bandhan Money Market Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
to
Sept 2017May 2016
to
May 2019Jan 2018
to
Jan 2021Oct 2019
to
Oct 2022Jun 2021
to
Jun 2024Jan 2023
to
Jan 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Money Market | 0.0 | 13.7 | 86.3 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 7.0% | 4.6% | 9.3% |
| SBI Banking & PSU Debt | 0.0 | 6.2 | 93.8 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.9% | 4.3% | 9.9% |
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. Every fund is measured over the days all of them have, from 18-11-2013. Past returns do not promise future returns.
Bandhan Money Market vs SBI Banking & PSU Debt: 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 01-11-2013 to 30-10-2026: 156 instalments, ₹15,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Money MarketBandhan Money Market Fund (Direct) | ₹15,60,000 | ₹24,46,775 | ₹8,86,775 | 6.7% |
| SBI Banking & PSU DebtSBI Banking & PSU Debt Fund (Direct) | ₹15,60,000 | ₹25,09,437 | ₹9,49,437 | 7.0% |
Bandhan Money MarketBandhan Money Market Fund (Direct)
SBI Banking & PSU DebtSBI Banking & PSU Debt 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.
Bandhan Money Market vs SBI Banking & PSU Debt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Money Market Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.46% | +4.41% |
| Standard deviation | 0.51% | 1.05% |
| Sharpe ratio | 2.39 | -0.79 |
| Sortino ratio | 3.88 | -1.09 |
| Maximum drawdown | −0.2% (22-05-2026) | −0.6% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Bandhan Money Market Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.34% | +7.07% |
| Standard deviation | 0.42% | 1.01% |
| Sharpe ratio | 3.16 | 1.04 |
| Sortino ratio | 5.98 | 1.57 |
| Maximum drawdown | −0.2% (22-05-2026) | −0.6% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Bandhan Money Market Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.72% | +6.15% |
| Standard deviation | 0.39% | 0.97% |
| Sharpe ratio | 2.34 | 0.36 |
| Sortino ratio | 4.15 | 0.50 |
| Maximum drawdown | −0.2% (13-05-2022) | −1.1% (09-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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.
| Measure | Bandhan Money Market Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.20% | +7.65% |
| Standard deviation | 0.59% | 1.33% |
| Sharpe ratio | 1.95 | 1.31 |
| Sortino ratio | 3.53 | 2.12 |
| Maximum drawdown | −1.3% (24-03-2020) | −3.2% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
Bandhan Money Market Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Money Market Fund (Direct) | −1.3% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| SBI Banking & PSU Debt Fund (Direct) | −3.2% | 06-03-2020 | 23-03-2020 | 20-04-2020 | 28 days | −0.0% |
From daily values since 18-11-2013, 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.
Bandhan Money Market Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
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.
Bandhan Money Market Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Money Market Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
Bandhan Money Market vs SBI Banking & PSU Debt: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Money Market Fund, September 2026; SBI Banking & PSU Debt Fund, September 2026
Holdings in common
- Overlap
- 11.7%
- Held by both
- 10
- Only in Bandhan Money Market
- 89
- Only in SBI Banking & PSU Debt
- 31
| Security | % of Bandhan Money Market | % of SBI Banking & PSU Debt |
|---|---|---|
| HDFC Bank Limited | 4.46% | 4.16% |
| Canara Bank | 2.24% | 2.79% |
| Axis Bank Limited | 1.79% | 2.77% |
| Punjab National Bank | 1.12% | 1.39% |
| Punjab National Bank | 2.59% | 0.69% |
| Union Bank of India | 0.56% | 2.08% |
| Punjab National Bank | 0.37% | 2.07% |
| Corporate Debt Market Development Fund Class A2 | 0.31% | 0.43% |
| HDFC Bank Limited | 0.30% | 4.19% |
| Bank of Baroda | 0.19% | 3.48% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 11.7% means 11.7% 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 Bandhan Money Market Fund
| Security | % of fund |
|---|---|
| Bank of Baroda | 4.09% |
| HDFC Bank Limited | 3.52% |
| Small Industries Dev Bank of India | 2.61% |
| Canara Bank | 2.42% |
| ICICI Bank Limited | 2.35% |
Largest holdings only in SBI Banking & PSU Debt Fund
| Security | % of fund |
|---|---|
| Small Industries Development Bank of India | 5.41% |
| Canara Bank | 5.41% |
| ONGC Petro Additions Ltd. | 4.99% |
| GAIL (India) Ltd. | 4.97% |
| 6.17% CGL 2028 | 4.16% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Money Market | SBI Banking & PSU Debt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.4% | 89.8% |
| Cash and others | 2.6% | 10.2% |
Bandhan Money Market vs SBI Banking & PSU Debt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Money Market Fund | SBI Banking & PSU Debt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.11% | 0.41% |
| Base expense ratio (Direct) | 0.09% | 0.34% |
| Total expense ratio (Regular) | 0.36% | 0.77% |
| Base expense ratio (Regular) | 0.30% | 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 Bandhan Money Market with
Bandhan Money Market Fund vs SBI Banking & PSU Debt Fund: Frequently Asked Questions
What is the difference between Bandhan Money Market Fund and SBI Banking & PSU Debt Fund?
Bandhan Money Market Fund is a Money Market fund, SBI Banking & PSU Debt Fund is a Banking & PSU fund, run by Bandhan Mutual Fund and SBI Mutual Fund. Their portfolios overlap 11.7%. Bandhan Money Market Fund charges 0.11% a year and SBI Banking & PSU Debt Fund 0.41%.
Which has given higher returns, Bandhan Money Market Fund or SBI Banking & PSU Debt Fund?
Over 1 year: Bandhan Money Market Fund +6.46%, SBI Banking & PSU Debt Fund +4.41%. Over 3 years: Bandhan Money Market Fund +7.34% a year, SBI Banking & PSU Debt Fund +7.07% a year. Over 5 years: Bandhan Money Market Fund +6.72% a year, SBI Banking & PSU Debt Fund +6.15% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Money Market Fund or SBI Banking & PSU Debt Fund?
Bandhan Money Market Fund charges less: 0.11% a year against 0.41%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Money Market Fund and SBI Banking & PSU Debt Fund overlap?
11.7%. They hold 10 of the same securities, the largest shared ones being HDFC Bank Limited, Canara Bank, Axis Bank Limited. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Money Market Fund or SBI Banking & PSU Debt Fund?
On SEBI's riskometer, Bandhan Money Market Fund is rated Low to Moderate and SBI Banking & PSU Debt Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.42% and 1.01% a year.
Which is better for SIP, Bandhan Money Market Fund or SBI Banking & PSU Debt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,31,603 in Bandhan Money Market Fund (XIRR 7.1% a year) and ₹7,21,304 in SBI Banking & PSU Debt Fund (XIRR 6.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Money Market Fund and SBI Banking & PSU Debt Fund?
Yes. 11.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Money Market Fund and SBI Banking & PSU Debt Fund?
Bandhan Money Market Fund: Brijesh Shah, Gautam Kaul. SBI Banking & PSU Debt Fund: Rajeev Radhakrishnan, Ardhendu Bhattacharya.
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.