Bharat 22 ETF vs SBI PSU Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Bharat 22 ETF is an ETF fund and SBI PSU Fund is a Thematic fund. In the 3 years to 30-10-2026, Bharat 22 ETF (Regular) returned 13.9% a year and SBI PSU Fund (Direct) returned 19.4% a year. Bharat 22 ETF charges 0.07% a year and SBI PSU Fund 0.97%. Their portfolios overlap 45.6%: they hold 12 of the same securities.
Which is better, Bharat 22 ETF or SBI PSU? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI PSU returned more over 5 years: 20.8% a year against 19.4%.
- SBI PSU returned more over 3 years: 19.4% a year against 13.9%.
- Bharat 22 ETF costs less: 0.07% a year against 0.97%.
- Bharat 22 ETF swung less over 3 years: a standard deviation of 18.2% a year against 20.3%.
- SBI PSU fell less in its worst fall since 27-11-2017: −45.8% against −47.9%.
- Bharat 22 ETF holds more in large companies: 91.6% of the fund in large caps against 71.9%.
- Bharat 22 ETF is the larger fund: ₹9,531 Cr against ₹6,354 Cr.
- Their portfolios overlap 45.6%: 12 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 | Bharat 22 ETF | SBI PSU Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | SBI Mutual Fund |
| Category | ETF | Thematic |
| AUM | ₹9,531 Cr (30-09-2026) | ₹6,354 Cr (30-09-2026) |
| NAV | ₹108.99 (Regular) | ₹35.37 (Direct) |
| Expense ratio (Direct) | Not available | 0.97% |
| Expense ratio (Regular) | 0.07% | 1.94% |
| Riskometer | Not available | Not available |
| Benchmark | BSE Bharat 22 TRI | Not available |
| Launch date | 24-11-2017 | Not available |
| Minimum investment | 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 | Not available |
| Lock in | None | Not available |
| Fund managers | Nishit Patel, Ashwini Bharucha, Ajaykumar Solanki, Venus Ahuja | Not available |
| Exit load | Not available | Not available |
Bharat 22 ETF vs SBI PSU: 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 |
|---|---|---|---|---|---|---|---|
| Bharat 22 ETF (Regular) | −1.16% | −5.79% | −12.31% | −6.66% | +13.88% | +19.37% | -- |
| SBI PSU Fund (Direct) | −2.71% | −6.65% | −11.22% | −4.87% | +19.35% | +20.84% | +12.69% |
| 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.
Bharat 22 ETF vs SBI PSU: Year-wise Returns
| Year | Bharat 22 ETFBharat 22 ETF | SBI PSUSBI PSU |
|---|---|---|
| 2026to date | −7.98% | −5.68% |
| 2025 | +10.02% | +12.43% |
| 2024 | +18.21% | +24.87% |
| 2023 | +59.48% | +55.74% |
| 2022 | +28.39% | +30.41% |
| 2021 | +40.00% | +33.77% |
Bharat 22 ETF vs SBI PSU: Rolling Returns
Every holding period of both funds, against BSE Bharat 22 Index TRI, the benchmark of Bharat 22 ETF
Rolling returns
Every 3-year holding period, 1,462 of them, one for each trading day from 27-11-2020 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.
Bharat 22 ETF (Regular)
SBI PSU Fund (Direct)
BSE Bharat 22 Index TRI
to
May 2021May 2019
to
May 2022May 2020
to
May 2023May 2021
to
May 2024May 2022
to
May 2025May 2023
to
May 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bharat 22 ETF | 4.8 | 7.5 | 10.7 | 8.3 | 10.9 | 4.4 | 53.4 | 23.4% | 26.3% | −8.2% | 47.3% | 0% |
| SBI PSU | 6.7 | 3.0 | 10.0 | 12.3 | 8.4 | 2.8 | 56.8 | 23.7% | 28.8% | −11.5% | 45.8% | 59% |
| BSE Bharat 22 Index TRI | 4.8 | 7.4 | 10.8 | 8.1 | 10.8 | 4.4 | 53.8 | 23.7% | 26.6% | −8.1% | 47.7% | -- |
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 BSE Bharat 22 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 27-11-2017. Past returns do not promise future returns.
Bharat 22 ETF vs SBI PSU: 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 27-11-2017 to 30-10-2026: 108 instalments, ₹10,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bharat 22 ETFBharat 22 ETF (Regular) | ₹10,80,000 | ₹24,09,780 | ₹13,29,780 | 17.2% |
| SBI PSUSBI PSU Fund (Direct) | ₹10,80,000 | ₹25,35,814 | ₹14,55,814 | 18.3% |
Bharat 22 ETFBharat 22 ETF (Regular)
SBI PSUSBI PSU 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.
Bharat 22 ETF vs SBI PSU: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bharat 22 ETF (Regular) | SBI PSU Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.66% | −4.87% |
| Standard deviation | 14.91% | 15.11% |
| Sharpe ratio | -0.80 | -0.67 |
| Sortino ratio | -1.05 | -0.88 |
| Maximum drawdown | −17.3% (23-10-2026) | −16.2% (23-10-2026) |
| Beta | 1.00 | 0.91 |
| Alpha | −0.19% | −0.42% |
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 | Bharat 22 ETF (Regular) | SBI PSU Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.88% | +19.35% |
| Standard deviation | 18.21% | 20.33% |
| Sharpe ratio | 0.43 | 0.66 |
| Sortino ratio | 0.57 | 0.87 |
| Maximum drawdown | −21.8% (28-02-2025) | −24.1% (28-02-2025) |
| Beta | 1.00 | 0.90 |
| Alpha | −0.25% | +1.65% |
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 | Bharat 22 ETF (Regular) | SBI PSU Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.37% | +20.84% |
| Standard deviation | 17.13% | 19.91% |
| Sharpe ratio | 0.79 | 0.76 |
| Sortino ratio | 1.07 | 1.01 |
| Maximum drawdown | −21.8% (28-02-2025) | −24.1% (28-02-2025) |
| Beta | 1.00 | 0.94 |
| Alpha | −0.26% | +0.88% |
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 | Bharat 22 ETF (Regular) | SBI PSU Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.65% | +10.91% |
| Standard deviation | 19.47% | 19.60% |
| Sharpe ratio | 0.38 | 0.25 |
| Sortino ratio | 0.50 | 0.33 |
| Maximum drawdown | −47.9% (24-03-2020) | −47.1% (24-03-2020) |
| Beta | 1.00 | 0.89 |
| Alpha | −0.17% | +1.06% |
From daily NAVs, 27-11-2017 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.
Bharat 22 ETF (Regular)
SBI PSU Fund (Direct)
BSE Bharat 22 Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bharat 22 ETF (Regular) | −47.9% | 27-05-2019 | 24-03-2020 | 04-06-2021 | 14 months | −14.7% |
| SBI PSU Fund (Direct) | −45.8% | 22-12-2017 | 24-03-2020 | 16-09-2021 | 18 months | −14.4% |
| BSE Bharat 22 Index TRI | −48.2% | 27-05-2019 | 24-03-2020 | 04-06-2021 | 14 months | −14.6% |
From daily values since 27-11-2017, 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.
Bharat 22 ETF (Regular)
SBI PSU Fund (Direct)
BSE Bharat 22 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.
Bharat 22 ETF (Regular)
SBI PSU Fund (Direct)
BSE Bharat 22 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.
Bharat 22 ETF (Regular)
SBI PSU Fund (Direct)
BSE Bharat 22 Index TRI
Against BSE Bharat 22 Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bharat 22 ETF (Regular) | 99% | 100% | 0.17% |
| SBI PSU Fund (Direct) | 97% | 100% | 8.44% |
From month-end values since 27-11-2017. 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.
Bharat 22 ETF vs SBI PSU: Portfolio Overlap
From each fund's latest monthly portfolio: Bharat 22 ETF, September 2026; SBI PSU Fund, September 2026
Holdings in common
- Overlap
- 45.6%
- Held by both
- 12
- Only in Bharat 22 ETF
- 10
- Only in SBI PSU
- 14
| Security | % of Bharat 22 ETF | % of SBI PSU |
|---|---|---|
| State Bank Of India | 8.87% | 15.66% |
| NTPC Ltd. | 9.64% | 8.61% |
| Power Grid Corporation Of India Ltd. | 7.48% | 7.41% |
| Bharat Electronics Ltd. | 4.96% | 7.87% |
| Oil & Natural Gas Corporation Ltd. | 5.27% | 3.66% |
| Bharat Petroleum Corporation Ltd. | 3.55% | 4.63% |
| GAIL (India) Ltd. | 2.77% | 6.87% |
| National Aluminium Company Ltd. | 4.78% | 2.44% |
| NHPC Ltd. | 1.43% | 1.49% |
| Bank Of Baroda | 0.96% | 5.21% |
| Indian Bank | 0.63% | 3.59% |
| Engineers India Ltd. | 0.30% | 2.87% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.6% means 45.6% 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 Bharat 22 ETF
| Security | % of fund |
|---|---|
| Larsen & Toubro Ltd. | 15.59% |
| ITC Ltd. | 14.23% |
| Axis Bank Ltd. | 7.79% |
| Coal India Ltd. | 5.81% |
| Indian Oil Corporation Ltd. | 2.96% |
Largest holdings only in SBI PSU Fund
| Security | % of fund |
|---|---|
| Bharat Heavy Electricals Ltd. | 4.25% |
| Container Corporation of India Ltd. | 3.66% |
| PNB Housing Finance Ltd. | 3.13% |
| NMDC Ltd. | 2.40% |
| SBI Cards & Payment Services Ltd. | 2.31% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bharat 22 ETF | SBI PSU |
|---|---|---|
| Equity | 100.0% | 98.7% |
| Debt | 0.0% | 0.1% |
| Cash and others | 0.0% | 1.2% |
Market cap of stocks
| Market cap | Bharat 22 ETF | SBI PSU |
|---|---|---|
| Large Cap | 91.6% | 71.9% |
| Mid Cap | 7.6% | 16.3% |
| Small Cap | 0.8% | 10.2% |
| Not on AMFI's list | 0.0% | 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 | Bharat 22 ETF | SBI PSU |
|---|---|---|
| Banks | 18.3% | 24.5% |
| Power | 19.4% | 17.5% |
| Construction | 16.2% | 2.9% |
| Diversified Fmcg | 14.2% | 0.0% |
| Gas | 2.8% | 11.9% |
| Aerospace & Defense | 5.0% | 9.9% |
| Petroleum Products | 6.5% | 4.6% |
| Consumable Fuels | 5.8% | 0.0% |
| Finance | 1.9% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
Bharat 22 ETF vs SBI PSU: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bharat 22 ETF | SBI PSU Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.97% |
| Base expense ratio (Direct) | 0.00% | 0.73% |
| Total expense ratio (Regular) | 0.07% | 1.94% |
| Base expense ratio (Regular) | 0.06% | 1.56% |
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
Bharat 22 ETF vs SBI PSU Fund: Frequently Asked Questions
What is the difference between Bharat 22 ETF and SBI PSU Fund?
Bharat 22 ETF is an ETF fund, SBI PSU Fund is a Thematic fund, run by ICICI Prudential Mutual Fund and SBI Mutual Fund. Their portfolios overlap 45.6%. Bharat 22 ETF charges 0.07% a year and SBI PSU Fund 0.97%.
Which has given higher returns, Bharat 22 ETF or SBI PSU Fund?
Over 1 year: Bharat 22 ETF −6.66%, SBI PSU Fund −4.87%. Over 3 years: Bharat 22 ETF +13.88% a year, SBI PSU Fund +19.35% a year. Over 5 years: Bharat 22 ETF +19.37% a year, SBI PSU Fund +20.84% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bharat 22 ETF or SBI PSU Fund?
Bharat 22 ETF charges less: 0.07% a year against 0.97%. These are the total expense ratios reported to AMFI.
How much do Bharat 22 ETF and SBI PSU Fund overlap?
45.6%. They hold 12 of the same securities, the largest shared ones being SBIN, NTPC, POWERGRID. From each fund's latest monthly portfolio.
Which is better for SIP, Bharat 22 ETF or SBI PSU Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,68,120 in Bharat 22 ETF (XIRR 13.9% a year) and ₹9,42,601 in SBI PSU Fund (XIRR 17.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bharat 22 ETF and SBI PSU Fund?
Yes. 45.6% of each fund's money sits in the same holdings, so a large part 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.