Baroda BNP Paribas Manufacturing Fund vs Navi Nifty India Manufacturing Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Baroda BNP Paribas Manufacturing Fund is a Thematic fund and Navi Nifty India Manufacturing Index Fund is an Index fund. In the year to 30-10-2026, Baroda BNP Paribas Manufacturing Fund (Direct) returned 2.2% and Navi Nifty India Manufacturing Index Fund (Direct) returned −2.1%. Baroda BNP Paribas Manufacturing Fund charges 1.32% a year and Navi Nifty India Manufacturing Index Fund 0.58% (Direct plans). Their portfolios overlap 38.9%: they hold 23 of the same securities.
Baroda BNP Paribas Manufacturing Fund
Thematic
- 1 year return
- 2.2%
- Expense ratio
- 1.32%
- NAV
- ₹10.37
Navi Nifty India Manufacturing Index Fund
Index
- 1 year return
- −2.1%
- Expense ratio
- 0.58%
- NAV
- ₹18.14
Which is better, Baroda BNP Paribas Manufacturing or Navi Nifty India Manufacturing Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Baroda BNP Paribas Manufacturing returned more over 1 year: 2.2% against −2.1%.
- Navi Nifty India Manufacturing Index costs less: 0.58% a year against 1.32% (Direct plans).
- Baroda BNP Paribas Manufacturing fell less in its worst fall since 03-07-2024: −22.0% against −23.0%.
- Baroda BNP Paribas Manufacturing is the larger fund: ₹783 Cr against ₹83 Cr.
- Their portfolios overlap 38.9%: 23 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 Manufacturing Fund | Navi Nifty India Manufacturing Index Fund |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | Navi Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹783 Cr (30-09-2026) | ₹83 Cr (30-09-2026) |
| NAV | ₹10.37 (Direct) | ₹18.14 (Direct) |
| Expense ratio (Direct) | 1.32% | 0.58% |
| Expense ratio (Regular) | 2.44% | 1.17% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty India Manufacturing TRI |
| Launch date | Not available | 26-08-2022 |
| Minimum investment | Not available | ₹100 |
| Lock in | Not available | None |
| Fund managers | Not available | Ashutosh Shirwaikar |
| Exit load | Not available | NIL |
Baroda BNP Paribas Manufacturing vs Navi Nifty India Manufacturing Index: 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 Manufacturing Fund (Direct) | −4.98% | −7.72% | −5.10% | +2.19% | -- | -- | -- |
| Navi Nifty India Manufacturing Index Fund (Direct) | −3.59% | −7.61% | −3.86% | −2.12% | +16.64% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Baroda BNP Paribas Manufacturing vs Navi Nifty India Manufacturing Index: Year-wise Returns
| Year | Baroda BNP Paribas ManufacturingBaroda BNP Paribas Manufacturing | Navi Nifty India Manufacturing IndexNavi Nifty India Manufacturing Index | Nifty India Manufacturing TRI |
|---|---|---|---|
| 2026to date | +0.30% | −2.82% | −2.54% |
| 2025 | +8.79% | +11.85% | +12.28% |
| 2024 | -- | +25.19% | +25.99% |
| 2023 | -- | +34.44% | +34.87% |
Baroda BNP Paribas Manufacturing vs Navi Nifty India Manufacturing Index: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 326 of them, one for each trading day from 03-07-2025 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 Manufacturing Fund (Direct)
Navi Nifty India Manufacturing Index Fund (Direct)
Nifty India Manufacturing TRI
to
Aug 2025Nov 2024
to
Nov 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 Manufacturing | 19.0 | 10.4 | 17.5 | 22.7 | 14.7 | 13.2 | 2.5 | 10.2% | 10.7% | −6.0% | 29.8% | 63% |
| Navi Nifty India Manufacturing Index | 21.5 | 9.8 | 17.2 | 28.2 | 16.0 | 5.8 | 1.5 | 8.9% | 10.1% | −6.8% | 29.0% | 0% |
| Nifty India Manufacturing TRI | 20.2 | 10.4 | 16.0 | 30.1 | 14.4 | 6.7 | 2.1 | 9.3% | 10.6% | −6.6% | 29.7% | -- |
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 India Manufacturing 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 03-07-2024. Past returns do not promise future returns.
Baroda BNP Paribas Manufacturing vs Navi Nifty India Manufacturing Index: 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 03-07-2024 to 30-10-2026: 28 instalments, ₹2,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Baroda BNP Paribas ManufacturingBaroda BNP Paribas Manufacturing Fund (Direct) | ₹2,80,000 | ₹2,90,154 | ₹10,154 | 3.0% |
| Navi Nifty India Manufacturing IndexNavi Nifty India Manufacturing Index Fund (Direct) | ₹2,80,000 | ₹2,85,860 | ₹5,860 | 1.7% |
Baroda BNP Paribas ManufacturingBaroda BNP Paribas Manufacturing Fund (Direct)
Navi Nifty India Manufacturing IndexNavi Nifty India Manufacturing Index 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.
Baroda BNP Paribas Manufacturing vs Navi Nifty India Manufacturing Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Baroda BNP Paribas Manufacturing Fund (Direct) | Navi Nifty India Manufacturing Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.19% | −2.12% |
| Standard deviation | 14.97% | 15.83% |
| Sharpe ratio | -0.20 | -0.47 |
| Sortino ratio | -0.27 | -0.62 |
| Maximum drawdown | −13.9% (23-10-2026) | −12.9% (23-10-2026) |
| Beta | 0.91 | 1.00 |
| Alpha | +3.25% | −0.43% |
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 Manufacturing Fund (Direct) | Navi Nifty India Manufacturing Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.37% | +15.55% |
| Standard deviation | 14.49% | 14.70% |
| Sharpe ratio | -0.30 | 0.64 |
| Sortino ratio | -0.40 | 0.87 |
| Maximum drawdown | −22.0% (28-02-2025) | −23.0% (07-04-2025) |
| Beta | 0.87 | 1.00 |
| Alpha | −0.48% | −0.50% |
From daily NAVs, 03-07-2024 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 Manufacturing Fund (Direct)
Navi Nifty India Manufacturing Index Fund (Direct)
Nifty India Manufacturing TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas Manufacturing Fund (Direct) | −22.0% | 27-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −12.1% |
| Navi Nifty India Manufacturing Index Fund (Direct) | −23.0% | 27-09-2024 | 07-04-2025 | 10-02-2026 | 10 months | −10.6% |
| Nifty India Manufacturing TRI | −23.0% | 27-09-2024 | 07-04-2025 | 05-01-2026 | 9 months | −10.5% |
From daily values since 03-07-2024, 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 Manufacturing Fund (Direct)
Navi Nifty India Manufacturing Index Fund (Direct)
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas Manufacturing Fund (Direct) | 96% | 92% | 4.59% |
| Navi Nifty India Manufacturing Index Fund (Direct) | 99% | 100% | 0.18% |
From month-end values since 03-07-2024. 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 Manufacturing vs Navi Nifty India Manufacturing Index: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas Manufacturing Fund, September 2026; Navi Nifty India Manufacturing Index Fund, September 2026
Holdings in common
- Overlap
- 38.9%
- Held by both
- 23
- Only in Baroda BNP Paribas Manufacturing
- 19
- Only in Navi Nifty India Manufacturing Index
- 54
| Security | % of Baroda BNP Paribas Manufacturing | % of Navi Nifty India Manufacturing Index |
|---|---|---|
| Reliance Industries Limited | 5.22% | 4.96% |
| Sun Pharmaceutical Industries Limited | 4.80% | 4.59% |
| Mahindra & Mahindra Limited | 3.22% | 4.98% |
| Divi's Laboratories Limited | 7.72% | 2.82% |
| TVS Motor Company Limited | 2.89% | 2.30% |
| JSW Steel Limited | 2.24% | 2.88% |
| Maruti Suzuki India Limited | 2.14% | 3.71% |
| Eicher Motors Limited | 1.87% | 2.35% |
| Bharat Electronics Limited | 1.79% | 3.32% |
| Tata Motors Ltd | 1.75% | 2.10% |
| Vedanta Aluminium Metal Limited | 3.23% | 1.67% |
| Cummins India Limited | 2.43% | 1.53% |
| Bharat Forge Limited | 1.72% | 1.28% |
| Pidilite Industries Limited | 1.18% | 1.09% |
| Bosch Limited | 2.44% | 0.97% |
| Hitachi Energy India Limited | 5.87% | 0.93% |
| ABB India Limited | 2.16% | 0.85% |
| Navin Fluorine International Limited | 2.11% | 0.72% |
| Hyundai Motor India Ltd | 1.95% | 0.69% |
| Hindustan Zinc Limited | 3.14% | 0.65% |
| Linde India Limited | 2.69% | 0.32% |
| Cochin Shipyard Limited | 0.97% | 0.30% |
| Escorts Kubota Limited | 1.32% | 0.22% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.9% means 38.9% 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 Baroda BNP Paribas Manufacturing Fund
| Security | % of fund |
|---|---|
| Bharat Heavy Electricals Limited | 5.73% |
| National Aluminium Company Limited | 2.92% |
| Sumitomo Chemical India Limited | 2.49% |
| ZF Commercial Vehicle Control Systems India Limited | 2.26% |
| IPCA Laboratories Limited | 1.99% |
Largest holdings only in Navi Nifty India Manufacturing Index Fund
| Security | % of fund |
|---|---|
| TATA STEEL LIMITED | 3.65% |
| HINDALCO INDUSTRIES LIMITED | 3.25% |
| BAJAJ AUTO LIMITED | 2.83% |
| HINDUSTAN AERONAUTICS LIMITED | 2.11% |
| LAURUS LABS LIMITED | 1.84% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Baroda BNP Paribas Manufacturing | Navi Nifty India Manufacturing Index |
|---|---|---|
| Equity | 94.7% | 99.7% |
| Debt | 1.9% | 0.0% |
| Cash and others | 3.4% | 0.3% |
Market cap of stocks
| Market cap | Baroda BNP Paribas Manufacturing | Navi Nifty India Manufacturing Index |
|---|---|---|
| Large Cap | 59.3% | 69.0% |
| Mid Cap | 19.1% | 27.5% |
| Small Cap | 16.3% | 3.2% |
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 Manufacturing | Navi Nifty India Manufacturing Index |
|---|---|---|
| PHARMACEUTICALS & BIOTECHNOLOGY | 0.0% | 18.5% |
| AUTOMOBILES | 0.0% | 18.3% |
| Pharmaceuticals & Biotechnology | 17.1% | 0.0% |
| Electrical Equipment | 13.8% | 0.0% |
| Automobiles | 13.5% | 0.0% |
| Non - Ferrous Metals | 9.3% | 0.0% |
| Auto Components | 9.0% | 0.0% |
| PETROLEUM PRODUCTS | 0.0% | 7.6% |
| FERROUS METALS | 0.0% | 7.5% |
| ELECTRICAL EQUIPMENT | 0.0% | 7.0% |
| AUTO COMPONENTS | 0.0% | 7.0% |
| Chemicals & Petrochemicals | 6.0% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas Manufacturing vs Navi Nifty India Manufacturing Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas Manufacturing Fund | Navi Nifty India Manufacturing Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.32% | 0.58% |
| Base expense ratio (Direct) | 1.01% | 0.40% |
| Total expense ratio (Regular) | 2.44% | 1.17% |
| Base expense ratio (Regular) | 1.97% | 0.90% |
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.
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Each fund against the others of its category
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Baroda BNP Paribas Manufacturing Fund vs Navi Nifty India Manufacturing Index Fund: Frequently Asked Questions
What is the difference between Baroda BNP Paribas Manufacturing Fund and Navi Nifty India Manufacturing Index Fund?
Baroda BNP Paribas Manufacturing Fund is a Thematic fund, Navi Nifty India Manufacturing Index Fund is an Index fund, run by Baroda BNP Paribas Mutual Fund and Navi Mutual Fund. Their portfolios overlap 38.9%. Baroda BNP Paribas Manufacturing Fund charges 1.32% a year and Navi Nifty India Manufacturing Index Fund 0.58%.
Which has given higher returns, Baroda BNP Paribas Manufacturing Fund or Navi Nifty India Manufacturing Index Fund?
Over 1 year: Baroda BNP Paribas Manufacturing Fund +2.19%, Navi Nifty India Manufacturing Index Fund −2.12%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Baroda BNP Paribas Manufacturing Fund or Navi Nifty India Manufacturing Index Fund?
Navi Nifty India Manufacturing Index Fund charges less: 0.58% a year against 1.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Baroda BNP Paribas Manufacturing Fund and Navi Nifty India Manufacturing Index Fund overlap?
38.9%. They hold 23 of the same securities, the largest shared ones being RELIANCE, SUNPHARMA, M&M. From each fund's latest monthly portfolio.
Can I invest in both Baroda BNP Paribas Manufacturing Fund and Navi Nifty India Manufacturing Index Fund?
Yes. 38.9% 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.