DSP MSCI India ETF vs Mirae Asset Equity Savings 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 Mirae Asset Equity Savings Fund is an Equity Savings fund. DSP MSCI India ETF charges 0.16% a year and Mirae Asset Equity Savings Fund 0.73%. Their portfolios overlap 47.6%: they hold 96 of the same securities.
Mirae Asset Equity Savings Fund
Equity Savings
- Expense ratio
- 0.73%
- NAV
- ₹22.84
Which is better, DSP MSCI India ETF or Mirae Asset Equity Savings? 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 0.73%.
- Mirae Asset Equity Savings fell less in its worst fall since 25-11-2025: −5.1% against −14.6%.
- DSP MSCI India ETF holds more in large companies: 80.5% of the fund in large caps against 45.1%.
- Mirae Asset Equity Savings is the larger fund: ₹1,994 Cr against ₹3 Cr.
- Their portfolios overlap 47.6%: 96 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 | Mirae Asset Equity Savings Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Mirae Asset Mutual Fund |
| Category | Not available | Equity Savings |
| AUM | ₹3 Cr (30-09-2026) | ₹1,994 Cr (30-09-2026) |
| NAV | ₹27.96 | ₹22.84 (Direct) |
| Expense ratio (Direct) | Not available | 0.73% |
| Expense ratio (Regular) | Not available | 1.73% |
| Riskometer | Not available | Moderately High |
| Benchmark | Not available | Nifty Equity Savings Index |
| Launch date | Not available | 17-12-2018 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Harshad Borawake, Vrijesh Kasera, Bharti Sawant, Basant Bafna |
| Exit load | Not available | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 90 Days. |
DSP MSCI India ETF vs Mirae Asset Equity Savings: 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% | -- | -- | -- | -- |
| Mirae Asset Equity Savings Fund (Direct) | +0.07% | −0.57% | +1.77% | +2.60% | +9.98% | +8.69% | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
Category average: the average of the 23 Equity Savings funds, same plan type.
DSP MSCI India ETF vs Mirae Asset Equity Savings: Year-wise Returns
| Year | DSP MSCI India ETFDSP MSCI India ETF | Mirae Asset Equity SavingsMirae Asset Equity Savings |
|---|---|---|
| 2026to date | −8.97% | +1.45% |
| 2025 | -- | +9.77% |
| 2024 | -- | +12.51% |
| 2023 | -- | +15.09% |
| 2022 | -- | +4.73% |
| 2021 | -- | +16.90% |
DSP MSCI India ETF vs Mirae Asset Equity Savings: Rolling Returns
Every holding period of both funds
DSP MSCI India ETF vs Mirae Asset Equity Savings: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP MSCI India ETF | Mirae Asset Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.48% | +11.02% |
| Standard deviation | 14.60% | 7.23% |
| Sharpe ratio | -0.94 | 0.80 |
| Sortino ratio | -1.24 | 1.08 |
| Maximum drawdown | −14.6% (31-03-2026) | −18.2% (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
Mirae Asset Equity Savings 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% |
| Mirae Asset Equity Savings Fund (Direct) | −5.1% | 18-02-2026 | 30-03-2026 | 18-06-2026 | 3 months | −1.6% |
From daily values since 25-11-2025, the first day every fund has.
DSP MSCI India ETF vs Mirae Asset Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: DSP MSCI India ETF, September 2026; Mirae Asset Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 47.6%
- Held by both
- 96
- Only in DSP MSCI India ETF
- 68
- Only in Mirae Asset Equity Savings
- 73
| Security | % of DSP MSCI India ETF | % of Mirae Asset Equity Savings |
|---|---|---|
| ICICI Bank Limited | 5.59% | 3.28% |
| HDFC Bank Limited | 6.44% | 3.01% |
| Bharti Airtel Limited | 3.93% | 2.24% |
| Reliance Industries Limited | 5.44% | 2.21% |
| Axis Bank Limited | 2.25% | 2.12% |
| State Bank of India | 1.41% | 2.07% |
| Kotak Mahindra Bank Limited | 1.82% | 1.28% |
| Titan Co Limited | 1.29% | 1.27% |
| Mahindra & Mahindra Limited | 2.05% | 1.27% |
| Tata Steel Limited | 1.10% | 1.39% |
| Bajaj Finance Limited | 1.90% | 1.02% |
| Larsen & Toubro Limited | 2.02% | 0.98% |
| Shriram Finance Limited | 1.10% | 0.89% |
| Sun Pharmaceutical Industries Limited | 1.30% | 0.86% |
| Maruti Suzuki India Limited | 1.11% | 0.86% |
| Adani Ports and Special Economic Zone Limited | 0.83% | 1.07% |
| Eternal Limited | 1.22% | 0.81% |
| Eicher Motors Limited | 0.77% | 1.06% |
| TVS Motor Co Limited | 0.78% | 0.75% |
| Hindustan Aeronautics Limited | 0.63% | 0.76% |
| SBI Life Insurance Co Limited | 0.61% | 1.06% |
| Infosys Limited | 2.41% | 0.55% |
| Laurus Labs Limited | 0.55% | 0.87% |
| Divi's Laboratories Limited | 0.90% | 0.55% |
| NTPC Limited | 1.12% | 0.54% |
| Hindalco Industries Limited | 0.97% | 0.53% |
| Tata Consultancy Services Limited | 1.33% | 0.51% |
| Avenue Supermarts Limited | 0.44% | 0.48% |
| Varun Beverages Limited | 0.44% | 0.54% |
| Tata Power Co Limited | 0.43% | 0.72% |
| Oil & Natural Gas Corporation Limited | 0.46% | 0.42% |
| Tata Motors Passenger Vehicles Limited | 0.42% | 0.54% |
| Hero MotoCorp Limited | 0.51% | 0.42% |
| HDFC Life Insurance Co Limited | 0.41% | 0.43% |
| Bharat Electronics Limited | 1.07% | 0.40% |
| Federal Bank Limited | 0.46% | 0.40% |
| Adani Enterprises Limited | 0.59% | 0.38% |
| Jio Financial Services Limited | 0.46% | 0.35% |
| Nestle India Limited | 0.60% | 0.34% |
| Ashok Leyland Limited | 0.34% | 0.51% |
| Aurobindo Pharma Limited | 0.34% | 0.57% |
| Multi Commodity Exchange Of India Limited | 0.33% | 0.67% |
| ITC Limited | 0.63% | 0.33% |
| Dr. Reddy's Laboratories Limited | 0.49% | 0.32% |
| Jindal Steel Limited | 0.32% | 0.58% |
| GAIL (India) Limited | 0.31% | 0.53% |
| FSN E-Commerce Ventures Limited | 0.31% | 0.68% |
| Torrent Pharmaceuticals Limited | 0.54% | 0.31% |
| Bharat Petroleum Corporation Limited | 0.39% | 0.30% |
| Ultratech Cement Limited | 0.89% | 0.30% |
| Vedanta Aluminium Metal Limited | 0.45% | 0.30% |
| Coal India Limited | 0.52% | 0.29% |
| Bharat Heavy Electricals Limited | 0.40% | 0.28% |
| IDFC First Bank Limited | 0.27% | 0.30% |
| Apollo Hospitals Enterprise Limited | 0.66% | 0.26% |
| Godrej Consumer Products Limited | 0.26% | 0.25% |
| Yes Bank Limited | 0.25% | 0.29% |
| JSW Steel Limited | 0.61% | 0.25% |
| Bajaj Finserv Limited | 0.53% | 0.24% |
| Tech Mahindra Limited | 0.65% | 0.24% |
| Phoenix Mills Limited | 0.29% | 0.23% |
| National Aluminium Co Limited | 0.23% | 0.29% |
| DLF Limited | 0.33% | 0.23% |
| Aditya Birla Capital Limited | 0.22% | 0.63% |
| Hitachi Energy India Limited | 0.35% | 0.21% |
| Hindustan Unilever Limited | 1.05% | 0.21% |
| Power Finance Corporation Limited | 0.34% | 0.21% |
| Mphasis Limited | 0.21% | 0.44% |
| IndusInd Bank Limited | 0.41% | 0.21% |
| Vishal Mega Mart Limited | 0.19% | 0.25% |
| Bank of Baroda | 0.19% | 0.34% |
| BSE Limited | 0.49% | 0.19% |
| Ambuja Cements Limited | 0.18% | 0.59% |
| JSW Energy Limited | 0.18% | 0.65% |
| HDFC Asset Management Co Limited | 0.35% | 0.18% |
| Bharat Forge Limited | 0.36% | 0.17% |
| Zydus Lifesciences Limited | 0.17% | 0.20% |
| Canara Bank | 0.17% | 0.25% |
| Siemens Energy India Limited | 0.21% | 0.17% |
| Supreme Industries Limited | 0.17% | 0.16% |
| AU Small Finance Bank Limited | 0.44% | 0.16% |
| Interglobe Aviation Limited | 0.75% | 0.15% |
| Asian Paints Limited | 0.73% | 0.14% |
| Godrej Properties Limited | 0.18% | 0.10% |
| Indus Towers Limited | 0.37% | 0.10% |
| Muthoot Finance Limited | 0.24% | 0.09% |
| Lupin Limited | 0.37% | 0.08% |
| Punjab National Bank | 0.21% | 0.08% |
| United Spirits Limited | 0.31% | 0.08% |
| Fortis Healthcare Limited | 0.30% | 0.07% |
| Dabur India Limited | 0.13% | 0.07% |
| Indian Oil Corporation Limited | 0.30% | 0.07% |
| UPL Limited | 0.22% | 0.06% |
| Pidilite Industries Limited | 0.33% | 0.05% |
| One 97 Communications Limited | 0.51% | 0.03% |
| Indian Bank | 0.17% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.6% means 47.6% 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% |
| HCL Technologies Limited | 0.86% |
| Grasim Industries Limited | 0.66% |
| Tata Motors Limited | 0.62% |
| Bajaj Auto Limited | 0.59% |
Largest holdings only in Mirae Asset Equity Savings Fund
| Security | % of fund |
|---|---|
| 8.65% Muthoot Finance Ltd. (MD 31/01/2028) | 2.50% |
| 7.88% Muthoot Finance Ltd. (MD 22/11/2028) | 2.46% |
| 7.47% Reliance Industries Ltd. (MD 16/09/2031) | 2.44% |
| 7.45% Torrent Pharmaceuticals Ltd. (MD 19/01/2028) | 1.99% |
| 6.79% Government of India (MD 07/10/2034) | 1.32% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP MSCI India ETF | Mirae Asset Equity Savings |
|---|---|---|
| Equity | 99.5% | 64.9% |
| Debt | 0.0% | 29.7% |
| Cash and others | 0.5% | 5.5% |
Market cap of stocks
| Market cap | DSP MSCI India ETF | Mirae Asset Equity Savings |
|---|---|---|
| Large Cap | 80.5% | 45.1% |
| Mid Cap | 19.0% | 11.7% |
| Small Cap | 0.0% | 6.4% |
| Not on AMFI's list | 0.0% | 1.6% |
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 | Mirae Asset Equity Savings |
|---|---|---|
| Banks | 20.3% | 13.9% |
| IT - Software | 6.5% | 2.0% |
| Petroleum Products | 6.4% | 2.6% |
| Finance | 6.3% | 3.4% |
| Automobiles | 6.2% | 4.9% |
| Pharmaceuticals & Biotechnology | 5.6% | 5.2% |
| Consumer Durables | 2.8% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
DSP MSCI India ETF vs Mirae Asset Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP MSCI India ETF | Mirae Asset Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.73% |
| Base expense ratio (Direct) | 0.11% | 0.31% |
| Total expense ratio (Regular) | Not available | 1.73% |
| Base expense ratio (Regular) | 0.00% | 1.16% |
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 Mirae Asset Equity Savings Fund: Frequently Asked Questions
What is the difference between DSP MSCI India ETF and Mirae Asset Equity Savings Fund?
DSP MSCI India ETF is a mutual fund, Mirae Asset Equity Savings Fund is an Equity Savings fund, run by DSP Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 47.6%. DSP MSCI India ETF charges 0.16% a year and Mirae Asset Equity Savings Fund 0.73%.
Which has the lower expense ratio, DSP MSCI India ETF or Mirae Asset Equity Savings Fund?
DSP MSCI India ETF charges less: 0.16% a year against 0.73%. These are the total expense ratios reported to AMFI.
How much do DSP MSCI India ETF and Mirae Asset Equity Savings Fund overlap?
47.6%. They hold 96 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Can I invest in both DSP MSCI India ETF and Mirae Asset Equity Savings Fund?
Yes. 47.6% 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.