Baroda BNP Paribas Banking and Financial Services Fund vs ICICI Prudential Nifty Financial Services Ex-Bank ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Baroda BNP Paribas Banking and Financial Services Fund is a Thematic fund and ICICI Prudential Nifty Financial Services Ex-Bank ETF is an ETF fund. In the 3 years to 30-10-2026, Baroda BNP Paribas Banking and Financial Services Fund (Direct) returned 12.8% a year and ICICI Prudential Nifty Financial Services Ex-Bank ETF returned 13.0% a year. Baroda BNP Paribas Banking and Financial Services Fund charges 1.09% a year and ICICI Prudential Nifty Financial Services Ex-Bank ETF 0.21%. Their portfolios overlap 31.4%: they hold 15 of the same securities.
Baroda BNP Paribas Banking and Financial Services Fund
Thematic
- 3 year return
- 12.8%
- Expense ratio
- 1.09%
- NAV
- ₹52.42
ICICI Prudential Nifty Financial Services Ex-Bank ETF
ETF
- 3 year return
- 13.0%
- Expense ratio
- 0.21%
- NAV
- ₹29.21
Which is better, Baroda BNP Paribas Banking and Financial Services or ICICI Prudential Nifty Financial Services Ex-Bank ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Nifty Financial Services Ex-Bank ETF returned more over 3 years: 13.0% a year against 12.8%.
- Baroda BNP Paribas Banking and Financial Services returned more over 1 year: −5.9% against −8.6%.
- ICICI Prudential Nifty Financial Services Ex-Bank ETF costs less: 0.21% a year against 1.09%.
- Baroda BNP Paribas Banking and Financial Services swung less over 3 years: a standard deviation of 16.4% a year against 20.0%.
- Baroda BNP Paribas Banking and Financial Services fell less in its worst fall since 28-11-2022: −16.4% against −16.7%.
- ICICI Prudential Nifty Financial Services Ex-Bank ETF holds more in large companies: 68.7% of the fund in large caps against 54.7%.
- Baroda BNP Paribas Banking and Financial Services is the larger fund: ₹516 Cr against ₹198 Cr.
- Their portfolios overlap 31.4%: 15 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 | Baroda BNP Paribas Banking and Financial Services Fund | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹516 Cr (30-09-2026) | ₹198 Cr (30-09-2026) |
| NAV | ₹52.42 (Direct) | ₹29.21 |
| Expense ratio (Direct) | 1.09% | Not available |
| Expense ratio (Regular) | 2.69% | Not available |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Nifty Financial Services Ex-Bank TRI |
| Launch date | Not available | 25-11-2022 |
| Minimum investment | Not available | During Ongoing/Continuous Offer: On Stock Exchanges: Investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy or sell units of the scheme in creation unit size and its mul |
| Lock in | Not available | None |
| Fund managers | Not available | Nishit Patel, Ashwini Bharucha, Venus Ahuja |
| Exit load | Not available | Not available |
Baroda BNP Paribas Banking and Financial Services vs ICICI Prudential Nifty Financial Services Ex-Bank 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 |
|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Banking and Financial Services Fund (Direct) | −2.92% | −6.09% | −1.57% | −5.88% | +12.79% | +9.67% | +11.10% |
| ICICI Prudential Nifty Financial Services Ex-Bank ETF | −3.14% | −10.30% | −7.18% | −8.58% | +13.01% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
Baroda BNP Paribas Banking and Financial Services vs ICICI Prudential Nifty Financial Services Ex-Bank ETF: Year-wise Returns
| Year | Baroda BNP Paribas Banking and Financial ServicesBaroda BNP Paribas Banking and Financial Services | ICICI Prudential Nifty Financial Services Ex-Bank ETFICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| 2026to date | −6.98% | −10.25% |
| 2025 | +16.30% | +27.84% |
| 2024 | +14.00% | +13.95% |
| 2023 | +21.84% | +32.46% |
| 2022 | +16.70% | -- |
| 2021 | +8.97% | -- |
Baroda BNP Paribas Banking and Financial Services vs ICICI Prudential Nifty Financial Services Ex-Bank ETF: Rolling Returns
Every holding period of both funds, against Nifty Financial Services TRI, the benchmark of Baroda BNP Paribas Banking and Financial Services Fund
Rolling returns
Every 3-year holding period, 226 of them, one for each trading day from 28-11-2025 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.
Baroda BNP Paribas Banking and Financial Services Fund (Direct)
ICICI Prudential Nifty Financial Services Ex-Bank ETF
Nifty Financial Services TRI
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Banking and Financial Services | 0.0 | 0.0 | 0.0 | 27.4 | 68.1 | 4.4 | 0.0 | 16.3% | 16.2% | 12.4% | 21.6% | 100% |
| ICICI Prudential Nifty Financial Services Ex-Bank ETF | 0.0 | 0.0 | 0.0 | 9.7 | 25.6 | 49.3 | 15.4 | 21.2% | 22.0% | 11.9% | 27.0% | 100% |
| Nifty Financial Services TRI | 0.0 | 0.0 | 22.1 | 61.5 | 16.4 | 0.0 | 0.0 | 12.2% | 11.5% | 7.9% | 17.8% | -- |
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 Financial Services 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 28-11-2022. Past returns do not promise future returns.
Baroda BNP Paribas Banking and Financial Services vs ICICI Prudential Nifty Financial Services Ex-Bank 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 01-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Baroda BNP Paribas Banking and Financial ServicesBaroda BNP Paribas Banking and Financial Services Fund (Direct) | ₹4,80,000 | ₹5,64,470 | ₹84,470 | 8.1% |
| ICICI Prudential Nifty Financial Services Ex-Bank ETFICICI Prudential Nifty Financial Services Ex-Bank ETF | ₹4,80,000 | ₹5,84,515 | ₹1,04,515 | 9.9% |
Baroda BNP Paribas Banking and Financial ServicesBaroda BNP Paribas Banking and Financial Services Fund (Direct)
ICICI Prudential Nifty Financial Services Ex-Bank ETFICICI Prudential Nifty Financial Services Ex-Bank 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.
Baroda BNP Paribas Banking and Financial Services vs ICICI Prudential Nifty Financial Services Ex-Bank ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Baroda BNP Paribas Banking and Financial Services Fund (Direct) | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Return (CAGR) | −5.88% | −8.58% |
| Standard deviation | 17.42% | 21.52% |
| Sharpe ratio | -0.64 | -0.64 |
| Sortino ratio | -0.88 | -0.89 |
| Maximum drawdown | −16.4% (31-03-2026) | −16.7% (31-03-2026) |
| Beta | 0.95 | 1.00 |
| Alpha | +2.35% | −0.17% |
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 | Baroda BNP Paribas Banking and Financial Services Fund (Direct) | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Return (CAGR) | +12.79% | +13.01% |
| Standard deviation | 16.45% | 20.04% |
| Sharpe ratio | 0.41 | 0.35 |
| Sortino ratio | 0.57 | 0.49 |
| Maximum drawdown | −16.4% (31-03-2026) | −16.7% (31-03-2026) |
| Beta | 0.96 | 1.00 |
| Alpha | +3.16% | −0.25% |
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 | Baroda BNP Paribas Banking and Financial Services Fund (Direct) | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Return (CAGR) | +11.13% | +14.70% |
| Standard deviation | 20.73% | 18.71% |
| Sharpe ratio | 0.25 | 0.46 |
| Sortino ratio | 0.34 | 0.64 |
| Maximum drawdown | −42.8% (23-03-2020) | −16.7% (31-03-2026) |
| Beta | 0.95 | 1.00 |
| Alpha | −1.38% | −0.28% |
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.
Baroda BNP Paribas Banking and Financial Services Fund (Direct)
ICICI Prudential Nifty Financial Services Ex-Bank ETF
Nifty Financial Services TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas Banking and Financial Services Fund (Direct) | −16.4% | 18-02-2026 | 31-03-2026 | Not yet | -- | −9.7% |
| ICICI Prudential Nifty Financial Services Ex-Bank ETF | −16.7% | 06-01-2026 | 31-03-2026 | 31-07-2026 | 4 months | −14.0% |
| Nifty Financial Services TRI | −17.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −12.4% |
From daily values since 28-11-2022, 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.
Baroda BNP Paribas Banking and Financial Services Fund (Direct)
ICICI Prudential Nifty Financial Services Ex-Bank ETF
Nifty Financial Services 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.
Baroda BNP Paribas Banking and Financial Services Fund (Direct)
ICICI Prudential Nifty Financial Services Ex-Bank ETF
Nifty Financial Services TRI
Against Nifty Financial Services TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas Banking and Financial Services Fund (Direct) | 106% | 87% | 5.03% |
| ICICI Prudential Nifty Financial Services Ex-Bank ETF | 126% | 94% | 9.92% |
From month-end values since 28-11-2022. 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.
Baroda BNP Paribas Banking and Financial Services vs ICICI Prudential Nifty Financial Services Ex-Bank ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas Banking and Financial Services Fund, September 2026; ICICI Prudential Nifty Financial Services Ex-Bank ETF, September 2026
Holdings in common
- Overlap
- 31.4%
- Held by both
- 15
- Only in Baroda BNP Paribas Banking and Financial Services
- 23
- Only in ICICI Prudential Nifty Financial Services Ex-Bank ETF
- 15
| Security | % of Baroda BNP Paribas Banking and Financial Services | % of ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Bajaj Finance Limited | 5.08% | 15.81% |
| Shriram Finance Limited | 3.85% | 8.31% |
| Multi Commodity Exchange of India Limited | 3.58% | 5.08% |
| One 97 Communications Limited | 3.27% | 4.36% |
| Cholamandalam Investment and Finance Company Ltd | 2.55% | 4.24% |
| BSE Limited | 2.45% | 7.63% |
| Aditya Birla Capital Limited | 1.92% | 1.96% |
| PB Fintech Limited | 1.73% | 2.28% |
| SBI Life Insurance Company Limited | 1.64% | 4.60% |
| 360 One WAM Limited | 1.28% | 1.63% |
| PNB Housing Finance Limited | 3.11% | 1.27% |
| L&T Finance Limited | 0.92% | 1.37% |
| Max Financial Services Limited | 0.80% | 2.20% |
| Life Insurance Corporation Of India | 0.74% | 3.03% |
| Muthoot Finance Limited | 0.32% | 1.77% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 31.4% means 31.4% 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 Baroda BNP Paribas Banking and Financial Services Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 9.22% |
| State Bank of India | 6.99% |
| HDFC Bank Limited | 6.25% |
| Axis Bank Limited | 5.89% |
| Kotak Mahindra Bank Limited | 5.45% |
Largest holdings only in ICICI Prudential Nifty Financial Services Ex-Bank ETF
| Security | % of fund |
|---|---|
| Bajaj Finserv Ltd. | 6.08% |
| Jio Financial Services Ltd | 4.30% |
| HDFC Life Insurance Company Ltd. | 3.39% |
| Power Finance Corporation Ltd. | 2.86% |
| Bajaj Holdings & Investment Ltd. | 2.82% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Baroda BNP Paribas Banking and Financial Services | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Equity | 96.4% | 100.0% |
| Debt | 0.9% | 0.0% |
| Cash and others | 2.6% | 0.0% |
Market cap of stocks
| Market cap | Baroda BNP Paribas Banking and Financial Services | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Large Cap | 54.7% | 68.7% |
| Mid Cap | 21.8% | 25.6% |
| Small Cap | 15.9% | 5.7% |
| Not on AMFI's list | 4.0% | 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 | Baroda BNP Paribas Banking and Financial Services | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Finance | 21.0% | 56.1% |
| Banks | 51.7% | 0.0% |
| Capital Markets | 12.6% | 20.6% |
| Insurance | 3.2% | 16.6% |
| Financial Technology (Fintech) | 7.9% | 6.6% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas Banking and Financial Services vs ICICI Prudential Nifty Financial Services Ex-Bank ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas Banking and Financial Services Fund | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | Not available |
| Base expense ratio (Direct) | 0.68% | 0.00% |
| Total expense ratio (Regular) | 2.69% | Not available |
| Base expense ratio (Regular) | 2.08% | 0.17% |
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
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Baroda BNP Paribas Banking and Financial Services Fund vs ICICI Prudential Nifty Financial Services Ex-Bank ETF: Frequently Asked Questions
What is the difference between Baroda BNP Paribas Banking and Financial Services Fund and ICICI Prudential Nifty Financial Services Ex-Bank ETF?
Baroda BNP Paribas Banking and Financial Services Fund is a Thematic fund, ICICI Prudential Nifty Financial Services Ex-Bank ETF is an ETF fund, run by Baroda BNP Paribas Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 31.4%. Baroda BNP Paribas Banking and Financial Services Fund charges 1.09% a year and ICICI Prudential Nifty Financial Services Ex-Bank ETF 0.21%.
Which has given higher returns, Baroda BNP Paribas Banking and Financial Services Fund or ICICI Prudential Nifty Financial Services Ex-Bank ETF?
Over 1 year: Baroda BNP Paribas Banking and Financial Services Fund −5.88%, ICICI Prudential Nifty Financial Services Ex-Bank ETF −8.58%. Over 3 years: Baroda BNP Paribas Banking and Financial Services Fund +12.79% a year, ICICI Prudential Nifty Financial Services Ex-Bank ETF +13.01% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Baroda BNP Paribas Banking and Financial Services Fund or ICICI Prudential Nifty Financial Services Ex-Bank ETF?
ICICI Prudential Nifty Financial Services Ex-Bank ETF charges less: 0.21% a year against 1.09%. These are the total expense ratios reported to AMFI.
How much do Baroda BNP Paribas Banking and Financial Services Fund and ICICI Prudential Nifty Financial Services Ex-Bank ETF overlap?
31.4%. They hold 15 of the same securities, the largest shared ones being BAJFINANCE, SHRIRAMFIN, MCX. From each fund's latest monthly portfolio.
Which is better for SIP, Baroda BNP Paribas Banking and Financial Services Fund or ICICI Prudential Nifty Financial Services Ex-Bank ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,97,769 in Baroda BNP Paribas Banking and Financial Services Fund (XIRR 4.6% a year) and ₹3,99,753 in ICICI Prudential Nifty Financial Services Ex-Bank ETF (XIRR 5.0% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Baroda BNP Paribas Banking and Financial Services Fund and ICICI Prudential Nifty Financial Services Ex-Bank ETF?
Yes. 31.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.