DSP MSCI India ETF vs Franklin India Multi-Factor Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
DSP MSCI India ETF is a mutual fund and Franklin India Multi-Factor Fund is a Thematic fund. DSP MSCI India ETF charges 0.16% a year and Franklin India Multi-Factor Fund 1.14%. Their portfolios overlap 58.6%: they hold 70 of the same securities.
Franklin India Multi-Factor Fund
Thematic
- Expense ratio
- 1.14%
- NAV
- ₹9.02
Which is better, DSP MSCI India ETF or Franklin India Multi-Factor? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP MSCI India ETF costs less: 0.16% a year against 1.14%.
- Franklin India Multi-Factor fell less in its worst fall since 28-11-2025: −13.8% against −14.6%.
- Franklin India Multi-Factor is the larger fund: ₹581 Cr against ₹3 Cr.
- Their portfolios overlap 58.6%: 70 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 MSCI India ETF | Franklin India Multi-Factor Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Franklin Templeton Mutual Fund |
| Category | Not available | Thematic |
| AUM | ₹3 Cr (30-09-2026) | ₹581 Cr (30-09-2026) |
| NAV | ₹27.96 | ₹9.02 (Direct) |
| Expense ratio (Direct) | Not available | 1.14% |
| Expense ratio (Regular) | Not available | 2.80% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Not available |
| Launch date | Not available | Not available |
| Minimum investment | Not available | Not available |
| Lock in | Not available | Not available |
| Fund managers | Not available | Not available |
| Exit load | Not available | Not available |
DSP MSCI India ETF vs Franklin India Multi-Factor: 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 MSCI India ETF | +0.34% | −5.94% | −3.51% | -- | -- | -- | -- |
| Franklin India Multi-Factor Fund (Direct) | −0.19% | −6.70% | −5.31% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
DSP MSCI India ETF vs Franklin India Multi-Factor: Year-wise Returns
| Year | DSP MSCI India ETFDSP MSCI India ETF | Franklin India Multi-FactorFranklin India Multi-Factor |
|---|---|---|
| 2026to date | −8.97% | −10.63% |
DSP MSCI India ETF vs Franklin India Multi-Factor: Rolling Returns
Every holding period of both funds, against BSE 200 TRI, the benchmark of Franklin India Multi-Factor Fund
DSP MSCI India ETF vs Franklin India Multi-Factor: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP MSCI India ETF | Franklin India Multi-Factor Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.48% | −10.62% |
| Standard deviation | 14.60% | 14.25% |
| Sharpe ratio | -0.94 | -1.11 |
| Sortino ratio | -1.24 | -1.45 |
| Maximum drawdown | −14.6% (31-03-2026) | −13.8% (31-03-2026) |
| Beta | -- | 0.97 |
| Alpha | -- | −1.09% |
From daily NAVs, 25-11-2025 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.
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 MSCI India ETF
Franklin India Multi-Factor Fund (Direct)
BSE 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP MSCI India ETF | −14.6% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.1% |
| Franklin India Multi-Factor Fund (Direct) | −13.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −11.3% |
| BSE 200 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.9% |
From daily values since 28-11-2025, the first day every fund has.
DSP MSCI India ETF vs Franklin India Multi-Factor: Portfolio Overlap
From each fund's latest monthly portfolio: DSP MSCI India ETF, September 2026; Franklin India Multi-Factor Fund, September 2026
Holdings in common
- Overlap
- 58.6%
- Held by both
- 70
- Only in DSP MSCI India ETF
- 94
- Only in Franklin India Multi-Factor
- 20
| Security | % of DSP MSCI India ETF | % of Franklin India Multi-Factor |
|---|---|---|
| HDFC Bank Limited | 6.44% | 5.90% |
| ICICI Bank Limited | 5.59% | 5.08% |
| Reliance Industries Limited | 5.44% | 4.24% |
| Bharti Airtel Limited | 3.93% | 3.83% |
| Infosys Limited | 2.41% | 2.32% |
| Larsen & Toubro Limited | 2.02% | 2.67% |
| Bajaj Finance Limited | 1.90% | 1.58% |
| Axis Bank Limited | 2.25% | 1.46% |
| State Bank of India | 1.41% | 2.71% |
| Sun Pharmaceutical Industries Limited | 1.30% | 1.97% |
| Titan Co Limited | 1.29% | 1.92% |
| Tata Consultancy Services Limited | 1.33% | 1.21% |
| NTPC Limited | 1.12% | 1.24% |
| Mahindra & Mahindra Limited | 2.05% | 1.01% |
| Bharat Electronics Limited | 1.07% | 1.00% |
| Kotak Mahindra Bank Limited | 1.82% | 0.90% |
| Divi's Laboratories Limited | 0.90% | 1.33% |
| HCL Technologies Limited | 0.86% | 1.20% |
| Hindalco Industries Limited | 0.97% | 0.79% |
| Shriram Finance Limited | 1.10% | 0.78% |
| Eternal Limited | 1.22% | 0.69% |
| Apollo Hospitals Enterprise Limited | 0.66% | 1.23% |
| Hindustan Aeronautics Limited | 0.63% | 0.65% |
| ITC Limited | 0.63% | 2.30% |
| Tata Motors Limited | 0.62% | 1.13% |
| Nestle India Limited | 0.60% | 1.34% |
| Bajaj Auto Limited | 0.59% | 1.37% |
| Trent Limited | 0.56% | 1.03% |
| Samvardhana Motherson International Limited | 0.55% | 1.28% |
| Laurus Labs Limited | 0.55% | 0.79% |
| Adani Power Limited | 0.53% | 1.02% |
| Coal India Limited | 0.52% | 1.42% |
| Ultratech Cement Limited | 0.89% | 0.52% |
| Tech Mahindra Limited | 0.65% | 0.51% |
| Tata Steel Limited | 1.10% | 0.51% |
| Hero MotoCorp Limited | 0.51% | 1.33% |
| Cummins India Limited | 0.50% | 0.99% |
| Indian Hotels Co Limited | 0.48% | 0.83% |
| Hindustan Unilever Limited | 1.05% | 0.48% |
| Vedanta Aluminium Metal Limited | 0.45% | 0.74% |
| One 97 Communications Limited | 0.51% | 0.40% |
| Dixon Technologies (India) Limited | 0.40% | 0.78% |
| Bharat Petroleum Corporation Limited | 0.39% | 0.79% |
| Solar Industries India Limited | 0.38% | 1.20% |
| Indus Towers Limited | 0.37% | 0.76% |
| Lupin Limited | 0.37% | 1.19% |
| Lenskart Solutions Limited | 0.36% | 0.87% |
| Hitachi Energy India Limited | 0.35% | 0.49% |
| HDFC Asset Management Co Limited | 0.35% | 0.71% |
| Power Finance Corporation Limited | 0.34% | 0.87% |
| Aurobindo Pharma Limited | 0.34% | 1.08% |
| Polycab India Limited | 0.34% | 0.51% |
| Pidilite Industries Limited | 0.33% | 0.63% |
| Marico Limited | 0.32% | 0.82% |
| FSN E-Commerce Ventures Limited | 0.31% | 1.10% |
| United Spirits Limited | 0.31% | 0.44% |
| REC Limited | 0.28% | 1.00% |
| Maruti Suzuki India Limited | 1.11% | 0.27% |
| Ge Vernova T&D India Limited | 0.42% | 0.25% |
| Aditya Birla Capital Limited | 0.22% | 0.78% |
| Adani Energy Solutions Limited | 0.22% | 0.97% |
| Union Bank Of India | 0.21% | 0.62% |
| Bank of Baroda | 0.19% | 0.76% |
| NMDC Limited | 0.19% | 0.36% |
| Canara Bank | 0.17% | 1.09% |
| L&T Finance Limited | 0.17% | 0.54% |
| Oberoi Realty Limited | 0.16% | 0.49% |
| Colgate Palmolive (India) Limited | 0.16% | 0.60% |
| Oracle Financial Services Software Limited | 0.16% | 0.66% |
| Tata Communications Limited | 0.15% | 0.47% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 58.6% means 58.6% 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 DSP MSCI India ETF
| Security | % of fund |
|---|---|
| Power Grid Corporation of India Limited | 0.87% |
| Adani Ports and Special Economic Zone Limited | 0.83% |
| TVS Motor Co Limited | 0.78% |
| Eicher Motors Limited | 0.77% |
| Interglobe Aviation Limited | 0.75% |
Largest holdings only in Franklin India Multi-Factor Fund
| Security | % of fund |
|---|---|
| Life Insurance Corporation Of India | 1.11% |
| Steel Authority of India Ltd | 1.07% |
| Bank Of Maharashtra | 0.90% |
| Welspun Corp Ltd | 0.85% |
| Great Eastern Shipping Co Ltd | 0.82% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP MSCI India ETF | Franklin India Multi-Factor |
|---|---|---|
| Equity | 99.5% | 97.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.5% | 2.4% |
Market cap of stocks
| Market cap | DSP MSCI India ETF | Franklin India Multi-Factor |
|---|---|---|
| Large Cap | 80.5% | 71.7% |
| Mid Cap | 19.0% | 18.2% |
| Small Cap | 0.0% | 7.4% |
| Not on AMFI's list | 0.0% | 0.4% |
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 MSCI India ETF | Franklin India Multi-Factor |
|---|---|---|
| Banks | 20.3% | 19.4% |
| Finance | 6.3% | 7.5% |
| IT - Software | 6.5% | 5.9% |
| Petroleum Products | 6.4% | 5.0% |
| Pharmaceuticals & Biotechnology | 5.6% | 6.4% |
| Automobiles | 6.2% | 4.0% |
| Telecom - Services | 4.7% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
DSP MSCI India ETF vs Franklin India Multi-Factor: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP MSCI India ETF | Franklin India Multi-Factor Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.14% |
| Base expense ratio (Direct) | 0.11% | 0.62% |
| Total expense ratio (Regular) | Not available | 2.80% |
| Base expense ratio (Regular) | 0.00% | 2.07% |
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 Franklin India Multi-Factor with
DSP MSCI India ETF vs Franklin India Multi-Factor Fund: Frequently Asked Questions
What is the difference between DSP MSCI India ETF and Franklin India Multi-Factor Fund?
DSP MSCI India ETF is a mutual fund, Franklin India Multi-Factor Fund is a Thematic fund, run by DSP Mutual Fund and Franklin Templeton Mutual Fund. Their portfolios overlap 58.6%. DSP MSCI India ETF charges 0.16% a year and Franklin India Multi-Factor Fund 1.14%.
Which has the lower expense ratio, DSP MSCI India ETF or Franklin India Multi-Factor Fund?
DSP MSCI India ETF charges less: 0.16% a year against 1.14%. These are the total expense ratios reported to AMFI.
How much do DSP MSCI India ETF and Franklin India Multi-Factor Fund overlap?
58.6%. They hold 70 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both DSP MSCI India ETF and Franklin India Multi-Factor Fund?
Yes. 58.6% 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.