DSP BSE Sensex ETF vs Zerodha BSE SENSEX Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
DSP BSE Sensex ETF is an ETF fund and Zerodha BSE SENSEX Index Fund is an Index fund. DSP BSE Sensex ETF charges 0.08% a year and Zerodha BSE SENSEX Index Fund 0.47%. Their portfolios overlap 99.8%: they hold 30 of the same securities.
Which is better, DSP BSE Sensex ETF or Zerodha BSE SENSEX Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP BSE Sensex ETF costs less: 0.08% a year against 0.47%.
- DSP BSE Sensex ETF fell less in its worst fall since 10-11-2025: −16.0% against −16.1%.
- Zerodha BSE SENSEX Index is the larger fund: ₹19 Cr against ₹4 Cr.
- Their portfolios overlap 99.8%: 30 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 | DSP BSE Sensex ETF | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Zerodha Mutual Fund |
| Category | ETF | Index |
| AUM | ₹4 Cr (30-09-2026) | ₹19 Cr (30-09-2026) |
| NAV | ₹76.91 | ₹8.99 (Direct) |
| Expense ratio (Direct) | Not available | 0.47% |
| Expense ratio (Regular) | Not available | Not available |
| Riskometer | Very High | Very High |
| Benchmark | BSE SENSEX TRI | BSE SENSEX TRI |
| Launch date | 27-07-2023 | 06-11-2025 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Anil Ghelani, Diipesh Shah, Neha Rathi | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
DSP BSE Sensex ETF vs Zerodha BSE SENSEX 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 |
|---|---|---|---|---|---|---|---|
| DSP BSE Sensex ETF | +2.77% | −4.28% | −2.42% | −10.92% | +6.17% | -- | -- |
| Zerodha BSE SENSEX Index Fund (Direct) | +2.75% | −4.37% | −2.58% | -- | -- | -- | -- |
DSP BSE Sensex ETF vs Zerodha BSE SENSEX Index: Year-wise Returns
| Year | DSP BSE Sensex ETFDSP BSE Sensex ETF | Zerodha BSE SENSEX IndexZerodha BSE SENSEX Index | BSE SENSEX TRI |
|---|---|---|---|
| 2026to date | −11.82% | −12.06% | −11.81% |
| 2025 | +10.26% | -- | +10.38% |
| 2024 | +9.20% | -- | +9.49% |
DSP BSE Sensex ETF vs Zerodha BSE SENSEX Index: Rolling Returns
Every holding period of both funds, against BSE SENSEX TRI, the benchmark of both
DSP BSE Sensex ETF vs Zerodha BSE SENSEX Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP BSE Sensex ETF | Zerodha BSE SENSEX Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.70% | −10.70% |
| Standard deviation | 12.95% | 14.00% |
| Sharpe ratio | -0.11 | -1.14 |
| Sortino ratio | -0.15 | -1.53 |
| Maximum drawdown | −16.0% (31-03-2026) | −16.1% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.15% | −0.40% |
From daily NAVs, 27-07-2023 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.
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.
DSP BSE Sensex ETF
Zerodha BSE SENSEX Index Fund (Direct)
BSE SENSEX TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP BSE Sensex ETF | −16.0% | 02-01-2026 | 31-03-2026 | Not yet | -- | −12.4% |
| Zerodha BSE SENSEX Index Fund (Direct) | −16.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −12.6% |
| BSE SENSEX TRI | −16.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −12.4% |
From daily values since 10-11-2025, the first day every fund has.
DSP BSE Sensex ETF vs Zerodha BSE SENSEX Index: Portfolio Overlap
From each fund's latest monthly portfolio: DSP BSE Sensex ETF, September 2026; Zerodha BSE SENSEX Index Fund, September 2026
Holdings in common
- Overlap
- 99.8%
- Held by both
- 30
- Only in DSP BSE Sensex ETF
- 0
- Only in Zerodha BSE SENSEX Index
- 0
| Security | % of DSP BSE Sensex ETF | % of Zerodha BSE SENSEX Index |
|---|---|---|
| HDFC Bank Limited | 12.57% | 12.59% |
| ICICI Bank Limited | 11.02% | 11.04% |
| Reliance Industries Limited | 9.14% | 9.16% |
| Bharti Airtel Limited | 6.37% | 6.39% |
| Larsen & Toubro Limited | 5.10% | 5.11% |
| State Bank of India | 4.63% | 4.64% |
| Infosys Limited | 4.08% | 4.09% |
| Axis Bank Limited | 4.08% | 4.08% |
| Kotak Mahindra Bank Limited | 3.57% | 3.58% |
| Mahindra & Mahindra Limited | 3.06% | 3.08% |
| Bajaj Finance Limited | 2.99% | 3.00% |
| ITC Limited | 2.95% | 2.97% |
| Eternal Limited | 2.69% | 2.70% |
| Tata Consultancy Services Limited | 2.42% | 2.42% |
| Sun Pharmaceutical Industries Limited | 2.29% | 2.29% |
| Titan Co Limited | 2.16% | 2.18% |
| Hindustan Unilever Limited | 1.95% | 1.96% |
| NTPC Limited | 1.78% | 1.78% |
| Tata Steel Limited | 1.77% | 1.77% |
| Maruti Suzuki India Limited | 1.76% | 1.79% |
| Adani Ports and Special Economic Zone Limited | 1.63% | 1.63% |
| Bharat Electronics Limited | 1.62% | 1.62% |
| HCL Technologies Limited | 1.51% | 1.51% |
| Ultratech Cement Limited | 1.47% | 1.50% |
| Power Grid Corporation of India Limited | 1.38% | 1.38% |
| Interglobe Aviation Limited | 1.28% | 1.30% |
| Asian Paints Limited | 1.26% | 1.26% |
| Tech Mahindra Limited | 1.13% | 1.13% |
| Bajaj Finserv Limited | 1.13% | 1.13% |
| Trent Limited | 1.02% | 1.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.8% means 99.8% 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 DSP BSE Sensex ETF
Every holding of this fund is also held by the other.
Largest holdings only in Zerodha BSE SENSEX Index Fund
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP BSE Sensex ETF | Zerodha BSE SENSEX Index |
|---|---|---|
| Equity | 99.8% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.2% | -0.1% |
Market cap of stocks
| Market cap | DSP BSE Sensex ETF | Zerodha BSE SENSEX Index |
|---|---|---|
| Large Cap | 99.8% | 100.1% |
| Mid Cap | 0.0% | 0.0% |
| Small Cap | 0.0% | 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 | DSP BSE Sensex ETF | Zerodha BSE SENSEX Index |
|---|---|---|
| Banks | 35.9% | 35.9% |
| Petroleum Products | 9.1% | 9.2% |
| IT - Software | 9.1% | 9.2% |
| Telecom - Services | 6.4% | 6.4% |
| Construction | 5.1% | 5.1% |
| Diversified FMCG | 4.9% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
DSP BSE Sensex ETF vs Zerodha BSE SENSEX Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP BSE Sensex ETF | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.47% |
| Base expense ratio (Direct) | 0.06% | 0.29% |
| Base expense ratio (Regular) | 0.00% | 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.
DSP BSE Sensex ETF vs Zerodha BSE SENSEX Index Fund: Frequently Asked Questions
What is the difference between DSP BSE Sensex ETF and Zerodha BSE SENSEX Index Fund?
DSP BSE Sensex ETF is an ETF fund, Zerodha BSE SENSEX Index Fund is an Index fund, run by DSP Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 99.8%. DSP BSE Sensex ETF charges 0.08% a year and Zerodha BSE SENSEX Index Fund 0.47%.
Which has the lower expense ratio, DSP BSE Sensex ETF or Zerodha BSE SENSEX Index Fund?
DSP BSE Sensex ETF charges less: 0.08% a year against 0.47%. These are the total expense ratios reported to AMFI.
How much do DSP BSE Sensex ETF and Zerodha BSE SENSEX Index Fund overlap?
99.8%. They hold 30 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, DSP BSE Sensex ETF or Zerodha BSE SENSEX Index Fund?
On SEBI's riskometer, DSP BSE Sensex ETF is rated Very High and Zerodha BSE SENSEX Index Fund Very High. Over their common history, the standard deviation of daily returns was 12.95% and 14.00% a year.
Can I invest in both DSP BSE Sensex ETF and Zerodha BSE SENSEX Index Fund?
Yes. 99.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP BSE Sensex ETF and Zerodha BSE SENSEX Index Fund?
DSP BSE Sensex ETF: Anil Ghelani, Diipesh Shah, Neha Rathi. Zerodha BSE SENSEX Index Fund: Kedarnath Mirajkar.
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.