Bandhan Overnight Fund vs DSP Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Overnight Fund and DSP Overnight Fund are both Overnight funds. In the 3 years to 30-10-2026, Bandhan Overnight Fund (Direct) returned 6.0% a year and DSP Overnight Fund (Direct) returned 6.0% a year. Bandhan Overnight Fund charges 0.07% a year and DSP Overnight Fund 0.11% (Direct plans). Their portfolios overlap 18.8%: they hold 6 of the same securities.
Bandhan Overnight Fund
Overnight
- 3 year return
- 6.0%
- Expense ratio
- 0.07%
- NAV
- ₹1,479.94
Which is better, Bandhan Overnight or DSP Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Overnight returned more over 5 years: 5.8% a year against 5.8%.
- DSP Overnight returned more over 3 years: 6.0% a year against 6.0%.
- Bandhan Overnight costs less: 0.07% a year against 0.11% (Direct plans).
- Bandhan Overnight swung less over 3 years: a standard deviation of 0.0% a year against 0.1%.
- DSP Overnight is the larger fund: ₹3,194 Cr against ₹1,213 Cr.
- Their portfolios overlap 18.8%: 6 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 Overnight Fund | DSP Overnight Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | DSP Mutual Fund |
| Category | Overnight | Overnight |
| AUM | ₹1,213 Cr (30-09-2026) | ₹3,194 Cr (30-09-2026) |
| NAV | ₹1,479.94 (Direct) | ₹1,486.36 (Direct) |
| Expense ratio (Direct) | 0.07% | 0.11% |
| Expense ratio (Regular) | 0.16% | 0.18% |
| Riskometer | Low | Low to Moderate |
| Benchmark | Nifty 1D Rate Index | CRISIL Liquid Overnight Index |
| Launch date | 18-01-2019 | 09-01-2019 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Brijesh Shah | Karan Mundhra, Shalini Vasanta, Shantanu Godambe |
| Exit load | Nil | Nil |
Bandhan Overnight vs DSP Overnight: 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 Overnight Fund (Direct) | +0.45% | +1.30% | +2.60% | +5.26% | +6.02% | +5.77% | -- |
| DSP Overnight Fund (Direct) | +0.45% | +1.29% | +2.60% | +5.27% | +6.02% | +5.78% | -- |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | +5.99% | +5.75% | -- |
Category average: the average of the 40 Overnight funds, same plan type.
Bandhan Overnight vs DSP Overnight: Year-wise Returns
| Year | BandhanBandhan Overnight | DSPDSP Overnight |
|---|---|---|
| 2026to date | +4.32% | +4.32% |
| 2025 | +5.82% | +5.82% |
| 2024 | +6.73% | +6.72% |
| 2023 | +6.70% | +6.72% |
| 2022 | +4.71% | +4.72% |
| 2021 | +3.17% | +3.19% |
Bandhan Overnight vs DSP Overnight: Rolling Returns
Every holding period of both funds, against Nifty 1D Rate Index TRI, the benchmark of Bandhan Overnight Fund
Rolling returns
Every 3-year holding period, 1,741 of them, one for each trading day from 19-01-2022 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 Overnight Fund (Direct)
DSP Overnight Fund (Direct)
Nifty 1D Rate Index TRI
to
Jun 2022Mar 2020
to
Mar 2023Jan 2021
to
Jan 2024Nov 2021
to
Nov 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 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 Overnight | 0.0 | 43.4 | 56.6 | 0.0 | 0.0 | 0.0 | 0.0 | 5.2% | 5.4% | 3.6% | 6.5% | 2% |
| DSP Overnight | 0.0 | 40.2 | 59.8 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.6% | 3.7% | 6.5% | 17% |
| Nifty 1D Rate Index TRI | 0.0 | 42.1 | 57.9 | 0.0 | 0.0 | 0.0 | 0.0 | 5.2% | 5.5% | 3.7% | 6.5% | -- |
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 Nifty 1D Rate Index 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 19-01-2019. Past returns do not promise future returns.
Bandhan Overnight vs DSP Overnight: 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 19-01-2019 to 30-10-2026: 94 instalments, ₹9,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan OvernightBandhan Overnight Fund (Direct) | ₹9,40,000 | ₹11,69,848 | ₹2,29,848 | 5.5% |
| DSP OvernightDSP Overnight Fund (Direct) | ₹9,40,000 | ₹11,70,535 | ₹2,30,535 | 5.5% |
Bandhan OvernightBandhan Overnight Fund (Direct)
DSP OvernightDSP Overnight 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 Overnight vs DSP Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Overnight Fund (Direct) | DSP Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.26% | +5.27% |
| Standard deviation | 0.04% | 0.04% |
| Sharpe ratio | 0.39 | 0.54 |
| Sortino ratio | 1.42 | 1.93 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.01 | -- |
| Alpha | +0.02% | -- |
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 Overnight Fund (Direct) | DSP Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.02% | +6.02% |
| Standard deviation | 0.04% | 0.12% |
| Sharpe ratio | -0.08 | -0.05 |
| Sortino ratio | -0.12 | -0.14 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | −0.00% | -- |
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 Overnight Fund (Direct) | DSP Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.77% | +5.78% |
| Standard deviation | 0.06% | 0.13% |
| Sharpe ratio | -0.57 | -0.18 |
| Sortino ratio | -0.72 | -0.40 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | −0.03% | -- |
From daily NAVs, 30-10-2021 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 Overnight Fund (Direct) | DSP Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.16% | +5.21% |
| Standard deviation | 0.07% | 0.13% |
| Sharpe ratio | -0.54 | -0.02 |
| Sortino ratio | -0.70 | -0.04 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | −0.04% | -- |
From daily NAVs, 21-01-2019 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 Overnight Fund (Direct)
DSP Overnight Fund (Direct)
Nifty 1D Rate Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| DSP Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From daily values since 19-01-2019, 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 Overnight Fund (Direct)
DSP Overnight Fund (Direct)
Nifty 1D Rate Index TRI
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 Overnight Fund (Direct)
DSP Overnight Fund (Direct)
Nifty 1D Rate Index TRI
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 Overnight Fund (Direct)
DSP Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Against Nifty 1D Rate Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Overnight Fund (Direct) | 99% | NaN% | 0.07% |
| DSP Overnight Fund (Direct) | 100% | NaN% | 0.08% |
From month-end values since 19-01-2019. 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 Overnight vs DSP Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Overnight Fund, September 2026; DSP Overnight Fund, September 2026
Holdings in common
- Overlap
- 18.8%
- Held by both
- 6
- Only in Bandhan Overnight
- 0
- Only in DSP Overnight
- 7
| Security | % of Bandhan Overnight | % of DSP Overnight |
|---|---|---|
| National Bank For Agriculture and Rural Development | 12.36% | 9.39% |
| Canara Bank | 4.12% | 4.70% |
| 364 Days Tbill (MD 08/10/2026) | 2.06% | 1.88% |
| 91 Days Tbill (MD 22/10/2026) | 1.64% | 1.56% |
| 91 Days Tbill (MD 01/10/2026) | 1.24% | 1.57% |
| 91 Days Tbill (MD 08/10/2026) | 2.88% | 0.63% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.8% means 18.8% 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 Overnight Fund
Every holding of this fund is also held by the other.
Largest holdings only in DSP Overnight Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 12.52% |
| Punjab National Bank | 12.52% |
| Indian Bank | 12.52% |
| Union Bank of India | 12.52% |
| 91 DAYS T-BILL 29102026 | 1.25% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Overnight | DSP Overnight |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 24.3% | 71.8% |
| Cash and others | 75.7% | 28.2% |
Bandhan Overnight vs DSP Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Overnight Fund | DSP Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.07% | 0.11% |
| Base expense ratio (Direct) | 0.04% | 0.06% |
| Total expense ratio (Regular) | 0.16% | 0.18% |
| Base expense ratio (Regular) | 0.12% | 0.12% |
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 Overnight with
Bandhan Overnight Fund vs DSP Overnight Fund: Frequently Asked Questions
What is the difference between Bandhan Overnight Fund and DSP Overnight Fund?
Both are Overnight funds, run by Bandhan Mutual Fund and DSP Mutual Fund. Their portfolios overlap 18.8%. Bandhan Overnight Fund charges 0.07% a year and DSP Overnight Fund 0.11%.
Which has given higher returns, Bandhan Overnight Fund or DSP Overnight Fund?
Over 1 year: Bandhan Overnight Fund +5.26%, DSP Overnight Fund +5.27%. Over 3 years: Bandhan Overnight Fund +6.02% a year, DSP Overnight Fund +6.02% a year. Over 5 years: Bandhan Overnight Fund +5.77% a year, DSP Overnight Fund +5.78% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Overnight Fund or DSP Overnight Fund?
Bandhan Overnight Fund charges less: 0.07% a year against 0.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Overnight Fund and DSP Overnight Fund overlap?
18.8%. They hold 6 of the same securities, the largest shared ones being National Bank For Agriculture and Rural Development, Canara Bank, 364 Days Tbill (MD 08/10/2026). From each fund's latest monthly portfolio.
Which is riskier, Bandhan Overnight Fund or DSP Overnight Fund?
On SEBI's riskometer, Bandhan Overnight Fund is rated Low and DSP Overnight Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.04% and 0.12% a year.
Which is better for SIP, Bandhan Overnight Fund or DSP Overnight Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,09,847 in Bandhan Overnight Fund (XIRR 5.9% a year) and ₹7,09,873 in DSP Overnight Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Overnight Fund and DSP Overnight Fund?
Yes. 18.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Overnight Fund and DSP Overnight Fund?
Bandhan Overnight Fund: Brijesh Shah. DSP Overnight Fund: Karan Mundhra, Shalini Vasanta, Shantanu Godambe.
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.