Bandhan Multi Cap Fund vs Groww NIFTY 200 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Bandhan Multi Cap Fund is a Multi Cap fund and Groww NIFTY 200 ETF is an ETF fund. In the year to 30-10-2026, Bandhan Multi Cap Fund (Direct) returned −4.8% and Groww NIFTY 200 ETF returned −8.2%. Bandhan Multi Cap Fund charges 0.95% a year and Groww NIFTY 200 ETF 0.43%. Their portfolios overlap 40.9%: they hold 55 of the same securities.
Bandhan Multi Cap Fund
Multi Cap
- 1 year return
- −4.8%
- Expense ratio
- 0.95%
- NAV
- ₹17.74
Which is better, Bandhan Multi Cap or Groww NIFTY 200 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Multi Cap returned more over 1 year: −4.8% against −8.2%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 0.95%.
- Bandhan Multi Cap fell less in its worst fall since 27-02-2025: −14.6% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 43.8%.
- Bandhan Multi Cap is the larger fund: ₹3,074 Cr against ₹16 Cr.
- Their portfolios overlap 40.9%: 55 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 Multi Cap Fund | Groww NIFTY 200 ETF |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Groww Mutual Fund |
| Category | Multi Cap | ETF |
| AUM | ₹3,074 Cr (31-08-2026) | ₹16 Cr (30-09-2026) |
| NAV | ₹17.74 (Direct) | ₹10.72 |
| Expense ratio (Direct) | 0.95% | Not available |
| Expense ratio (Regular) | 2.27% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | Nifty 200 TRI |
| Launch date | 02-12-2021 | 25-02-2025 |
| Minimum investment | ₹1,000 | ₹500 |
| Lock in | None | None |
| Fund managers | Daylynn Pinto, Harshal Joshi | Nikhil Satam, Aakash Chauhan, Shashi Kumar |
| Exit load | Exit load of 1% if redeemed wtihin 1 year. | Nil |
Bandhan Multi Cap vs Groww NIFTY 200 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Multi Cap Fund (Direct) | −1.86% | −6.28% | −1.26% | −4.75% | +12.01% | -- | -- |
| Groww NIFTY 200 ETF | +0.13% | −6.00% | −3.35% | −8.21% | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
Bandhan Multi Cap vs Groww NIFTY 200 ETF: Year-wise Returns
| Year | Bandhan Multi CapBandhan Multi Cap | Groww NIFTY 200 ETFGroww NIFTY 200 ETF |
|---|---|---|
| 2026to date | −4.97% | −8.79% |
| 2025 | +6.46% | -- |
| 2024 | +21.25% | -- |
| 2023 | +31.66% | -- |
| 2022 | +8.66% | -- |
Bandhan Multi Cap vs Groww NIFTY 200 ETF: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Bandhan Multi Cap Fund
Rolling returns
Every 1-year holding period, 166 of them, one for each trading day from 27-02-2026 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 Multi Cap Fund (Direct)
Groww NIFTY 200 ETF
Nifty500 Multicap 50:25:25 TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Multi Cap | 17.5 | 51.2 | 25.3 | 4.8 | 1.2 | 0.0 | 0.0 | 3.6% | 3.1% | −5.6% | 17.0% | 67% |
| Groww NIFTY 200 ETF | 46.3 | 37.8 | 11.6 | 3.7 | 0.6 | 0.0 | 0.0 | 0.8% | 0.3% | −9.9% | 15.6% | 2% |
| Nifty500 Multicap 50:25:25 TRI | 22.9 | 44.0 | 27.1 | 4.2 | 1.8 | 0.0 | 0.0 | 3.1% | 2.5% | −7.6% | 18.0% | -- |
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 Nifty500 Multicap 50:25:25 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 27-02-2025. Past returns do not promise future returns.
Bandhan Multi Cap vs Groww NIFTY 200 ETF: 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 03-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Multi CapBandhan Multi Cap Fund (Direct) | ₹2,10,000 | ₹2,09,677 | −₹323 | −0.2% |
| Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ₹2,10,000 | ₹2,04,546 | −₹5,454 | −2.9% |
Bandhan Multi CapBandhan Multi Cap Fund (Direct)
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
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 Multi Cap vs Groww NIFTY 200 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Multi Cap Fund (Direct) | Groww NIFTY 200 ETF |
|---|---|---|
| Return (CAGR) | −4.75% | −8.21% |
| Standard deviation | 13.79% | 14.33% |
| Sharpe ratio | -0.72 | -0.94 |
| Sortino ratio | -0.97 | -1.24 |
| Maximum drawdown | −14.6% (30-03-2026) | −14.8% (31-03-2026) |
| Beta | 0.90 | 1.00 |
| Alpha | +0.19% | −0.38% |
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 Multi Cap Fund (Direct) | Groww NIFTY 200 ETF |
|---|---|---|
| Return (CAGR) | +12.37% | +4.51% |
| Standard deviation | 13.20% | 13.84% |
| Sharpe ratio | 0.49 | -0.07 |
| Sortino ratio | 0.67 | -0.09 |
| Maximum drawdown | −18.3% (03-03-2025) | −14.8% (31-03-2026) |
| Beta | 0.85 | 1.00 |
| Alpha | +2.26% | −0.43% |
From daily NAVs, 03-12-2021 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.
Bandhan Multi Cap Fund (Direct)
Groww NIFTY 200 ETF
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Multi Cap Fund (Direct) | −14.6% | 02-01-2026 | 30-03-2026 | 03-07-2026 | 3 months | −7.7% |
| Groww NIFTY 200 ETF | −14.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −9.7% |
| Nifty500 Multicap 50:25:25 TRI | −14.6% | 02-01-2026 | 30-03-2026 | 06-07-2026 | 3 months | −8.0% |
From daily values since 27-02-2025, 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 Multi Cap Fund (Direct)
Groww NIFTY 200 ETF
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Multi Cap Fund (Direct) | 92% | 90% | 2.49% |
| Groww NIFTY 200 ETF | 84% | 92% | 3.60% |
From month-end values since 27-02-2025. 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.
Bandhan Multi Cap vs Groww NIFTY 200 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Multi Cap Fund, August 2026; Groww NIFTY 200 ETF, September 2026
Holdings in common
- Overlap
- 40.9%
- Held by both
- 55
- Only in Bandhan Multi Cap
- 53
- Only in Groww NIFTY 200 ETF
- 145
| Security | % of Bandhan Multi Cap | % of Groww NIFTY 200 ETF |
|---|---|---|
| HDFC Bank Limited | 5.88% | 6.72% |
| Reliance Industries Limited | 3.95% | 4.91% |
| ICICI Bank Limited | 3.31% | 5.86% |
| Axis Bank Limited | 2.11% | 2.18% |
| Infosys Limited | 2.03% | 2.17% |
| Kotak Mahindra Bank Limited | 3.96% | 1.90% |
| Larsen & Toubro Limited | 1.51% | 2.72% |
| Bharti Airtel Limited | 1.47% | 3.31% |
| ITC Limited | 1.41% | 1.57% |
| Tata Consultancy Services Limited | 2.73% | 1.29% |
| Eternal Limited | 1.07% | 1.43% |
| Maruti Suzuki India Limited | 1.85% | 0.96% |
| Hindustan Unilever Limited | 0.96% | 1.03% |
| Sun Pharmaceutical Industries Limited | 0.81% | 1.19% |
| NTPC Limited | 0.75% | 0.95% |
| State Bank of India | 0.69% | 2.45% |
| Titan Company Limited | 0.66% | 1.17% |
| Bajaj Finserv Limited | 0.99% | 0.62% |
| Dr. Reddy's Laboratories Limited | 1.13% | 0.46% |
| Cipla Limited | 0.46% | 0.47% |
| Oil & Natural Gas Corporation Limited | 0.45% | 0.54% |
| Hero MotoCorp Limited | 0.89% | 0.42% |
| Trent Limited | 0.42% | 0.54% |
| One 97 Communications Limited | 0.42% | 0.45% |
| Avenue Supermarts Limited | 1.14% | 0.38% |
| HDFC Life Insurance Company Limited | 1.24% | 0.35% |
| Britannia Industries Limited | 0.34% | 0.35% |
| IDFC First Bank Limited | 1.40% | 0.33% |
| Life Insurance Corporation Of India | 0.95% | 0.31% |
| Info Edge (India) Limited | 0.75% | 0.29% |
| Bharat Heavy Electricals Limited | 0.29% | 0.37% |
| Aurobindo Pharma Limited | 1.12% | 0.29% |
| Vedanta Aluminium Metal Limited | 0.28% | 0.43% |
| Samvardhana Motherson International Limited | 0.28% | 0.45% |
| DLF Limited | 0.34% | 0.27% |
| Jindal Steel Limited | 0.89% | 0.26% |
| United Spirits Limited | 0.82% | 0.25% |
| ICICI Lombard General Insurance Company Limited | 1.53% | 0.24% |
| PB Fintech Limited | 0.61% | 0.23% |
| Swiggy Limited | 0.83% | 0.23% |
| Varun Beverages Limited | 0.23% | 0.37% |
| Max Financial Services Limited | 0.77% | 0.22% |
| Glenmark Pharmaceuticals Limited | 0.81% | 0.22% |
| Shriram Finance Limited | 0.18% | 0.85% |
| NHPC Limited | 0.87% | 0.17% |
| Havells India Limited | 0.65% | 0.16% |
| Tube Investments of India Limited | 0.27% | 0.16% |
| Oil India Limited | 1.10% | 0.15% |
| Dabur India Limited | 0.93% | 0.14% |
| Mahindra & Mahindra Financial Services Limited | 1.82% | 0.13% |
| Nestle India Limited | 0.12% | 0.58% |
| Exide Industries Limited | 0.72% | 0.12% |
| Jubilant Foodworks Limited | 0.65% | 0.11% |
| Container Corporation of India Limited | 0.29% | 0.10% |
| MRF Limited | 0.96% | 0.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.9% means 40.9% 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 Bandhan Multi Cap Fund
| Security | % of fund |
|---|---|
| V-Mart Retail Limited | 1.52% |
| Poonawalla Fincorp Limited | 1.51% |
| Sterlite Technologies Limited | 1.48% |
| GlaxoSmithKline Pharmaceuticals Limited | 1.19% |
| AWL Agri Business Limited | 1.06% |
Largest holdings only in Groww NIFTY 200 ETF
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Limited | 1.63% |
| Bajaj Finance Limited | 1.62% |
| Tata Steel Limited | 0.95% |
| Adani Port & Special Economic Zone Ltd | 0.87% |
| Bharat Electronics Limited | 0.86% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Multi Cap | Groww NIFTY 200 ETF |
|---|---|---|
| Equity | 96.0% | 99.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.0% | 0.1% |
Market cap of stocks
| Market cap | Bandhan Multi Cap | Groww NIFTY 200 ETF |
|---|---|---|
| Large Cap | 43.8% | 79.6% |
| Mid Cap | 26.2% | 19.9% |
| Small Cap | 26.1% | 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 | Bandhan Multi Cap | Groww NIFTY 200 ETF |
|---|---|---|
| Banks | 18.0% | 22.2% |
| Pharmaceuticals & Biotechnology | 7.5% | 5.1% |
| Finance | 6.5% | 5.9% |
| IT - Software | 5.0% | 6.4% |
| Retailing | 6.0% | 3.8% |
| Petroleum Products | 4.0% | 5.8% |
| Automobiles | 2.7% | 5.5% |
| Insurance | 5.2% | 1.6% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Multi Cap vs Groww NIFTY 200 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Multi Cap Fund | Groww NIFTY 200 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.95% | Not available |
| Base expense ratio (Direct) | 0.54% | 0.35% |
| Total expense ratio (Regular) | 2.27% | Not available |
| Base expense ratio (Regular) | 1.68% | 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.
More comparisons
Each fund against the others of its category
Bandhan Multi Cap Fund vs Groww NIFTY 200 ETF: Frequently Asked Questions
What is the difference between Bandhan Multi Cap Fund and Groww NIFTY 200 ETF?
Bandhan Multi Cap Fund is a Multi Cap fund, Groww NIFTY 200 ETF is an ETF fund, run by Bandhan Mutual Fund and Groww Mutual Fund. Their portfolios overlap 40.9%. Bandhan Multi Cap Fund charges 0.95% a year and Groww NIFTY 200 ETF 0.43%.
Which has given higher returns, Bandhan Multi Cap Fund or Groww NIFTY 200 ETF?
Over 1 year: Bandhan Multi Cap Fund −4.75%, Groww NIFTY 200 ETF −8.21%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Multi Cap Fund or Groww NIFTY 200 ETF?
Groww NIFTY 200 ETF charges less: 0.43% a year against 0.95%. These are the total expense ratios reported to AMFI.
How much do Bandhan Multi Cap Fund and Groww NIFTY 200 ETF overlap?
40.9%. They hold 55 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Multi Cap Fund or Groww NIFTY 200 ETF?
On SEBI's riskometer, Bandhan Multi Cap Fund is rated Very High and Groww NIFTY 200 ETF Very High. Over 1 years, the standard deviation of daily returns was 13.79% and 14.33% a year.
Can I invest in both Bandhan Multi Cap Fund and Groww NIFTY 200 ETF?
Yes. 40.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Multi Cap Fund and Groww NIFTY 200 ETF?
Bandhan Multi Cap Fund: Daylynn Pinto, Harshal Joshi. Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar.
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.