DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid 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 Mahindra Manulife Aggressive Hybrid Fund is an Aggressive Hybrid fund. DSP MSCI India ETF charges 0.16% a year and Mahindra Manulife Aggressive Hybrid Fund 0.84%. Their portfolios overlap 35.8%: they hold 39 of the same securities.
Mahindra Manulife Aggressive Hybrid Fund
Aggressive Hybrid
- Expense ratio
- 0.84%
- NAV
- ₹28.59
Which is better, DSP MSCI India ETF or Mahindra Manulife Aggressive Hybrid? 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 0.84%.
- Mahindra Manulife Aggressive Hybrid fell less in its worst fall since 25-11-2025: −11.3% against −14.6%.
- DSP MSCI India ETF holds more in large companies: 80.5% of the fund in large caps against 40.8%.
- Mahindra Manulife Aggressive Hybrid is the larger fund: ₹2,798 Cr against ₹3 Cr.
- Their portfolios overlap 35.8%: 39 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 | Mahindra Manulife Aggressive Hybrid Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Not available | Aggressive Hybrid |
| AUM | ₹3 Cr (30-09-2026) | ₹2,798 Cr (30-09-2026) |
| NAV | ₹27.96 | ₹28.59 (Direct) |
| Expense ratio (Direct) | Not available | 0.84% |
| Expense ratio (Regular) | Not available | 2.17% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | CRISIL Hybrid 35+65 - Aggressive Index |
| Launch date | Not available | 19-07-2019 |
| Minimum investment | Not available | ₹1,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Kirti Dalvi, Vishal Jajoo, Rahul Pal, Amit Garg |
| Exit load | Not available | Exit load for units more than 10% of the investments, an exit load of 1% if redeemed within 3 months. |
DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid: 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% | -- | -- | -- | -- |
| Mahindra Manulife Aggressive Hybrid Fund (Direct) | −2.15% | −6.30% | −4.03% | −8.15% | +10.64% | +10.17% | -- |
| Aggressive Hybrid average | −0.88% | −3.67% | −0.27% | −3.33% | +10.77% | +9.35% | -- |
Category average: the average of the 29 Aggressive Hybrid funds, same plan type.
DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid: Year-wise Returns
| Year | DSP MSCI India ETFDSP MSCI India ETF | Mahindra Manulife Aggressive HybridMahindra Manulife Aggressive Hybrid |
|---|---|---|
| 2026to date | −8.97% | −8.78% |
| 2025 | -- | +9.85% |
| 2024 | -- | +21.67% |
| 2023 | -- | +25.49% |
| 2022 | -- | +6.29% |
| 2021 | -- | +33.09% |
DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid: Rolling Returns
Every holding period of both funds
DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP MSCI India ETF | Mahindra Manulife Aggressive Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.48% | +15.54% |
| Standard deviation | 14.60% | 12.11% |
| Sharpe ratio | -0.94 | 0.86 |
| Sortino ratio | -1.24 | 1.15 |
| Maximum drawdown | −14.6% (31-03-2026) | −25.4% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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
Mahindra Manulife Aggressive Hybrid Fund (Direct)
| 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% |
| Mahindra Manulife Aggressive Hybrid Fund (Direct) | −11.3% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.5% |
From daily values since 25-11-2025, the first day every fund has.
DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid: Portfolio Overlap
From each fund's latest monthly portfolio: DSP MSCI India ETF, September 2026; Mahindra Manulife Aggressive Hybrid Fund, September 2026
Holdings in common
- Overlap
- 35.8%
- Held by both
- 39
- Only in DSP MSCI India ETF
- 125
- Only in Mahindra Manulife Aggressive Hybrid
- 72
| Security | % of DSP MSCI India ETF | % of Mahindra Manulife Aggressive Hybrid |
|---|---|---|
| ICICI Bank Limited | 5.59% | 4.79% |
| HDFC Bank Limited | 6.44% | 4.69% |
| Reliance Industries Limited | 5.44% | 2.32% |
| Bharti Airtel Limited | 3.93% | 2.13% |
| Axis Bank Limited | 2.25% | 1.89% |
| Kotak Mahindra Bank Limited | 1.82% | 1.85% |
| Larsen & Toubro Limited | 2.02% | 1.53% |
| Eternal Limited | 1.22% | 1.58% |
| Sun Pharmaceutical Industries Limited | 1.30% | 1.12% |
| Mahindra & Mahindra Limited | 2.05% | 1.05% |
| Divi's Laboratories Limited | 0.90% | 0.95% |
| Titan Co Limited | 1.29% | 0.86% |
| TVS Motor Co Limited | 0.78% | 1.17% |
| Shriram Finance Limited | 1.10% | 0.73% |
| Interglobe Aviation Limited | 0.75% | 0.68% |
| Grasim Industries Limited | 0.66% | 0.96% |
| Tech Mahindra Limited | 0.65% | 1.50% |
| Adani Enterprises Limited | 0.59% | 1.35% |
| Trent Limited | 0.56% | 1.01% |
| Bajaj Finserv Limited | 0.53% | 1.79% |
| Max Healthcare Institute Limited | 0.52% | 0.83% |
| Dr. Reddy's Laboratories Limited | 0.49% | 0.82% |
| Vedanta Aluminium Metal Limited | 0.45% | 0.98% |
| Avenue Supermarts Limited | 0.44% | 1.16% |
| CG Power and Industrial Solutions Limited | 0.43% | 0.49% |
| Tata Power Co Limited | 0.43% | 0.71% |
| IndusInd Bank Limited | 0.41% | 1.36% |
| Britannia Industries Limited | 0.41% | 0.63% |
| Dixon Technologies (India) Limited | 0.40% | 1.30% |
| Pidilite Industries Limited | 0.33% | 0.64% |
| Suzlon Energy Limited | 0.32% | 0.42% |
| Marico Limited | 0.32% | 1.02% |
| SRF Limited | 0.27% | 0.88% |
| Adani Energy Solutions Limited | 0.22% | 1.40% |
| Mankind Pharma Limited | 0.20% | 0.78% |
| NMDC Limited | 0.19% | 0.72% |
| Godrej Properties Limited | 0.18% | 0.49% |
| Zydus Lifesciences Limited | 0.17% | 1.31% |
| Havells India Limited | 0.16% | 0.83% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.8% means 35.8% 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 MSCI India ETF
| Security | % of fund |
|---|---|
| Infosys Limited | 2.41% |
| Bajaj Finance Limited | 1.90% |
| State Bank of India | 1.41% |
| Tata Consultancy Services Limited | 1.33% |
| NTPC Limited | 1.12% |
Largest holdings only in Mahindra Manulife Aggressive Hybrid Fund
| Security | % of fund |
|---|---|
| Mahindra Manulife Liquid Fund -Direct Plan -Growth | 4.65% |
| 7.71% Government of India 2066 | 1.70% |
| 7.24% Government of India 2055 | 1.53% |
| Kirloskar Oil Engines Limited | 1.41% |
| KEI Industries Limited | 1.37% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP MSCI India ETF | Mahindra Manulife Aggressive Hybrid |
|---|---|---|
| Equity | 99.5% | 73.9% |
| Debt | 0.0% | 17.2% |
| Cash and others | 0.5% | 8.9% |
Market cap of stocks
| Market cap | DSP MSCI India ETF | Mahindra Manulife Aggressive Hybrid |
|---|---|---|
| Large Cap | 80.5% | 40.8% |
| Mid Cap | 19.0% | 22.6% |
| Small Cap | 0.0% | 10.5% |
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 | Mahindra Manulife Aggressive Hybrid |
|---|---|---|
| Banks | 20.3% | 16.0% |
| Finance | 6.3% | 7.0% |
| IT - Software | 6.5% | 2.5% |
| Petroleum Products | 6.4% | 2.3% |
| Automobiles | 6.2% | 2.2% |
| Pharmaceuticals & Biotechnology | 5.6% | 5.0% |
| Industrial Products | 1.3% | 4.2% |
| Retailing | 3.4% | 4.2% |
| Consumer Durables | 2.8% | 3.6% |
The six largest sectors of each fund's stocks, % of the fund.
DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP MSCI India ETF | Mahindra Manulife Aggressive Hybrid Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.84% |
| Base expense ratio (Direct) | 0.11% | 0.49% |
| Total expense ratio (Regular) | Not available | 2.17% |
| Base expense ratio (Regular) | 0.00% | 1.67% |
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 Mahindra Manulife Aggressive Hybrid with
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- Mahindra Manulife Aggressive Hybrid vs HSBC Aggressive Hybrid
- Mahindra Manulife Aggressive Hybrid vs Edelweiss Aggressive Hybrid
DSP MSCI India ETF vs Mahindra Manulife Aggressive Hybrid Fund: Frequently Asked Questions
What is the difference between DSP MSCI India ETF and Mahindra Manulife Aggressive Hybrid Fund?
DSP MSCI India ETF is a mutual fund, Mahindra Manulife Aggressive Hybrid Fund is an Aggressive Hybrid fund, run by DSP Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 35.8%. DSP MSCI India ETF charges 0.16% a year and Mahindra Manulife Aggressive Hybrid Fund 0.84%.
Which has the lower expense ratio, DSP MSCI India ETF or Mahindra Manulife Aggressive Hybrid Fund?
DSP MSCI India ETF charges less: 0.16% a year against 0.84%. These are the total expense ratios reported to AMFI.
How much do DSP MSCI India ETF and Mahindra Manulife Aggressive Hybrid Fund overlap?
35.8%. They hold 39 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 Mahindra Manulife Aggressive Hybrid Fund?
Yes. 35.8% 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.