DSP MSCI India ETF vs ITI Flexi Cap 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 ITI Flexi Cap Fund is a Flexi Cap fund. DSP MSCI India ETF charges 0.16% a year and ITI Flexi Cap Fund 0.88%. Their portfolios overlap 42.1%: they hold 42 of the same securities.
Which is better, DSP MSCI India ETF or ITI Flexi Cap? 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 0.88%.
- ITI Flexi Cap fell less in its worst fall since 25-11-2025: −13.0% against −14.6%.
- DSP MSCI India ETF holds more in large companies: 80.5% of the fund in large caps against 44.7%.
- ITI Flexi Cap is the larger fund: ₹1,588 Cr against ₹3 Cr.
- Their portfolios overlap 42.1%: 42 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 | ITI Flexi Cap Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | ITI Mutual Fund |
| Category | Not available | Flexi Cap |
| AUM | ₹3 Cr (30-09-2026) | ₹1,588 Cr (30-09-2026) |
| NAV | ₹27.96 | ₹20.35 (Direct) |
| Expense ratio (Direct) | Not available | 0.88% |
| Expense ratio (Regular) | Not available | 2.32% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty 500 TRI |
| Launch date | Not available | 17-02-2023 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Dhimant Shah, Nilay Dalal |
| Exit load | Not available | Exit load of 0.50%, if redeemed within 3 months. |
DSP MSCI India ETF vs ITI Flexi Cap: 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% | -- | -- | -- | -- |
| ITI Flexi Cap Fund (Direct) | −1.70% | −0.27% | +7.12% | +6.40% | +18.32% | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
DSP MSCI India ETF vs ITI Flexi Cap: Year-wise Returns
| Year | DSP MSCI India ETFDSP MSCI India ETF | ITI Flexi CapITI Flexi Cap |
|---|---|---|
| 2026to date | −8.97% | +5.44% |
| 2025 | -- | +4.71% |
| 2024 | -- | +28.10% |
DSP MSCI India ETF vs ITI Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ITI Flexi Cap Fund
DSP MSCI India ETF vs ITI Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP MSCI India ETF | ITI Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.48% | +21.51% |
| Standard deviation | 14.60% | 15.22% |
| Sharpe ratio | -0.94 | 1.01 |
| Sortino ratio | -1.24 | 1.36 |
| Maximum drawdown | −14.6% (31-03-2026) | −21.4% (28-02-2025) |
| Beta | -- | 1.07 |
| Alpha | -- | +8.54% |
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
ITI Flexi Cap Fund (Direct)
Nifty 500 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% |
| ITI Flexi Cap Fund (Direct) | −13.0% | 02-01-2026 | 31-03-2026 | 07-05-2026 | 37 days | −5.0% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 25-11-2025, the first day every fund has.
DSP MSCI India ETF vs ITI Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: DSP MSCI India ETF, September 2026; ITI Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 42.1%
- Held by both
- 42
- Only in DSP MSCI India ETF
- 122
- Only in ITI Flexi Cap
- 40
| Security | % of DSP MSCI India ETF | % of ITI Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 5.59% | 4.61% |
| HDFC Bank Limited | 6.44% | 3.56% |
| Reliance Industries Limited | 5.44% | 3.48% |
| Bharti Airtel Limited | 3.93% | 2.27% |
| Larsen & Toubro Limited | 2.02% | 2.07% |
| Axis Bank Limited | 2.25% | 1.73% |
| Kotak Mahindra Bank Limited | 1.82% | 1.57% |
| State Bank of India | 1.41% | 2.06% |
| Eternal Limited | 1.22% | 1.19% |
| NTPC Limited | 1.12% | 1.19% |
| Sun Pharmaceutical Industries Limited | 1.30% | 0.97% |
| Shriram Finance Limited | 1.10% | 0.97% |
| Tata Consultancy Services Limited | 1.33% | 0.95% |
| Bajaj Finance Limited | 1.90% | 0.94% |
| Titan Co Limited | 1.29% | 0.93% |
| Divi's Laboratories Limited | 0.90% | 1.68% |
| Ultratech Cement Limited | 0.89% | 0.92% |
| Bharat Electronics Limited | 1.07% | 0.85% |
| Infosys Limited | 2.41% | 0.82% |
| Maruti Suzuki India Limited | 1.11% | 0.81% |
| TVS Motor Co Limited | 0.78% | 1.11% |
| Interglobe Aviation Limited | 0.75% | 0.86% |
| Mahindra & Mahindra Limited | 2.05% | 0.67% |
| Grasim Industries Limited | 0.66% | 0.94% |
| ITC Limited | 0.63% | 0.74% |
| Power Grid Corporation of India Limited | 0.87% | 0.62% |
| Tata Motors Limited | 0.62% | 0.77% |
| Cholamandalam Investment and Finance Co Limited | 0.55% | 0.85% |
| Indian Hotels Co Limited | 0.48% | 0.88% |
| Federal Bank Limited | 0.46% | 0.88% |
| Vedanta Aluminium Metal Limited | 0.45% | 1.21% |
| Varun Beverages Limited | 0.44% | 1.00% |
| Ge Vernova T&D India Limited | 0.42% | 1.16% |
| Dixon Technologies (India) Limited | 0.40% | 0.97% |
| Bharat Forge Limited | 0.36% | 0.65% |
| Polycab India Limited | 0.34% | 0.91% |
| Multi Commodity Exchange Of India Limited | 0.33% | 1.49% |
| United Spirits Limited | 0.31% | 1.01% |
| Bajaj Holdings & Investment Limited | 0.25% | 0.60% |
| Prestige Estates Projects Limited | 0.21% | 0.87% |
| Bosch Limited | 0.18% | 1.20% |
| Canara Bank | 0.17% | 0.81% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.1% means 42.1% 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 |
|---|---|
| Tata Steel Limited | 1.10% |
| Hindustan Unilever Limited | 1.05% |
| Hindalco Industries Limited | 0.97% |
| HCL Technologies Limited | 0.86% |
| Adani Ports and Special Economic Zone Limited | 0.83% |
Largest holdings only in ITI Flexi Cap Fund
| Security | % of fund |
|---|---|
| Aditya Infotech Limited | 2.62% |
| Ather Energy Limited | 1.82% |
| Apar Industries Limited | 1.74% |
| VA Tech Wabag Limited | 1.72% |
| Sai Life Sciences Limited | 1.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP MSCI India ETF | ITI Flexi Cap |
|---|---|---|
| Equity | 99.5% | 94.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.5% | 6.0% |
Market cap of stocks
| Market cap | DSP MSCI India ETF | ITI Flexi Cap |
|---|---|---|
| Large Cap | 80.5% | 44.7% |
| Mid Cap | 19.0% | 15.5% |
| Small Cap | 0.0% | 29.2% |
| Not on AMFI's list | 0.0% | 4.7% |
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 | ITI Flexi Cap |
|---|---|---|
| Banks | 20.3% | 15.9% |
| Pharmaceuticals & Biotechnology | 5.6% | 7.5% |
| IT - Software | 6.5% | 1.8% |
| Petroleum Products | 6.4% | 3.5% |
| Finance | 6.3% | 3.4% |
| Automobiles | 6.2% | 4.4% |
| Industrial Products | 1.3% | 5.8% |
| Auto Components | 1.3% | 5.6% |
| Chemicals & Petrochemicals | 1.0% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
DSP MSCI India ETF vs ITI Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP MSCI India ETF | ITI Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.88% |
| Base expense ratio (Direct) | 0.11% | 0.53% |
| Total expense ratio (Regular) | Not available | 2.32% |
| Base expense ratio (Regular) | 0.00% | 1.81% |
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
DSP MSCI India ETF vs ITI Flexi Cap Fund: Frequently Asked Questions
What is the difference between DSP MSCI India ETF and ITI Flexi Cap Fund?
DSP MSCI India ETF is a mutual fund, ITI Flexi Cap Fund is a Flexi Cap fund, run by DSP Mutual Fund and ITI Mutual Fund. Their portfolios overlap 42.1%. DSP MSCI India ETF charges 0.16% a year and ITI Flexi Cap Fund 0.88%.
Which has the lower expense ratio, DSP MSCI India ETF or ITI Flexi Cap Fund?
DSP MSCI India ETF charges less: 0.16% a year against 0.88%. These are the total expense ratios reported to AMFI.
How much do DSP MSCI India ETF and ITI Flexi Cap Fund overlap?
42.1%. They hold 42 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both DSP MSCI India ETF and ITI Flexi Cap Fund?
Yes. 42.1% 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.