DSP MSCI India ETF vs SBI Contra 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 SBI Contra Fund is a Value and Contra fund. DSP MSCI India ETF charges 0.16% a year and SBI Contra Fund 0.87%. Their portfolios overlap 36.1%: they hold 45 of the same securities.
Which is better, DSP MSCI India ETF or SBI Contra? 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 0.87%.
- SBI Contra fell less in its worst fall since 25-11-2025: −13.4% against −14.6%.
- SBI Contra holds 2.4% of the fund in foreign stocks; DSP MSCI India ETF 0.0%.
- DSP MSCI India ETF holds more in large companies: 80.5% of the fund in large caps against 50.2%.
- SBI Contra is the larger fund: ₹45,068 Cr against ₹3 Cr.
- Their portfolios overlap 36.1%: 45 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 | SBI Contra Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | SBI Mutual Fund |
| Category | Not available | Value and Contra |
| AUM | ₹3 Cr (30-09-2026) | ₹45,068 Cr (30-09-2026) |
| NAV | ₹27.96 | ₹393.34 (Direct) |
| Expense ratio (Direct) | Not available | 0.87% |
| Expense ratio (Regular) | Not available | 1.62% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | BSE 500 TRI |
| Launch date | Not available | 05-07-1999 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Dinesh Balachandran |
| Exit load | Not available | Exit load of 0.25% if redeemed within 30 days and 0.10% if redeemed after 30 days but on or before 90 days. |
DSP MSCI India ETF vs SBI Contra: 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% | -- | -- | -- | -- |
| SBI Contra Fund (Direct) | −1.16% | −5.77% | −4.40% | −9.28% | +10.39% | +13.53% | +14.70% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
Category average: the average of the 30 Value and Contra funds, same plan type.
DSP MSCI India ETF vs SBI Contra: Year-wise Returns
| Year | DSP MSCI India ETFDSP MSCI India ETF | SBI ContraSBI Contra |
|---|---|---|
| 2026to date | −8.97% | −10.04% |
| 2025 | -- | +7.02% |
| 2024 | -- | +19.94% |
| 2023 | -- | +39.53% |
| 2022 | -- | +13.63% |
| 2021 | -- | +50.98% |
DSP MSCI India ETF vs SBI Contra: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of SBI Contra Fund
DSP MSCI India ETF vs SBI Contra: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP MSCI India ETF | SBI Contra Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.48% | +14.64% |
| Standard deviation | 14.60% | 14.70% |
| Sharpe ratio | -0.94 | 0.58 |
| Sortino ratio | -1.24 | 0.78 |
| Maximum drawdown | −14.6% (31-03-2026) | −44.7% (23-03-2020) |
| Beta | -- | 0.88 |
| Alpha | -- | +2.58% |
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
SBI Contra Fund (Direct)
BSE 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% |
| SBI Contra Fund (Direct) | −13.4% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.7% |
| BSE 500 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.7% |
From daily values since 25-11-2025, the first day every fund has.
DSP MSCI India ETF vs SBI Contra: Portfolio Overlap
From each fund's latest monthly portfolio: DSP MSCI India ETF, September 2026; SBI Contra Fund, September 2026
Holdings in common
- Overlap
- 36.1%
- Held by both
- 45
- Only in DSP MSCI India ETF
- 119
- Only in SBI Contra
- 46
| Security | % of DSP MSCI India ETF | % of SBI Contra |
|---|---|---|
| HDFC Bank Limited | 6.44% | 4.79% |
| Reliance Industries Limited | 5.44% | 4.67% |
| ICICI Bank Limited | 5.59% | 4.36% |
| Kotak Mahindra Bank Limited | 1.82% | 3.15% |
| State Bank of India | 1.41% | 1.60% |
| Axis Bank Limited | 2.25% | 1.33% |
| Bharti Airtel Limited | 3.93% | 1.23% |
| Tata Steel Limited | 1.10% | 2.13% |
| Maruti Suzuki India Limited | 1.11% | 1.04% |
| Hindalco Industries Limited | 0.97% | 1.18% |
| Larsen & Toubro Limited | 2.02% | 0.84% |
| Grasim Industries Limited | 0.66% | 0.76% |
| Tech Mahindra Limited | 0.65% | 1.79% |
| ITC Limited | 0.63% | 1.81% |
| Tata Motors Limited | 0.62% | 1.16% |
| Infosys Limited | 2.41% | 0.61% |
| JSW Steel Limited | 0.61% | 0.81% |
| Bajaj Auto Limited | 0.59% | 1.35% |
| Samvardhana Motherson International Limited | 0.55% | 1.21% |
| Cipla Limited | 0.54% | 1.15% |
| Hero MotoCorp Limited | 0.51% | 0.52% |
| One 97 Communications Limited | 0.51% | 1.02% |
| Oil & Natural Gas Corporation Limited | 0.46% | 1.20% |
| Tata Consultancy Services Limited | 1.33% | 0.42% |
| Tata Motors Passenger Vehicles Limited | 0.42% | 1.03% |
| Indus Towers Limited | 0.37% | 2.66% |
| Lupin Limited | 0.37% | 0.45% |
| HDFC Asset Management Co Limited | 0.35% | 0.33% |
| GAIL (India) Limited | 0.31% | 2.33% |
| FSN E-Commerce Ventures Limited | 0.31% | 1.58% |
| United Spirits Limited | 0.31% | 0.88% |
| Indian Oil Corporation Limited | 0.30% | 1.08% |
| Wipro Limited | 0.29% | 0.53% |
| UPL Limited | 0.22% | 1.05% |
| HCL Technologies Limited | 0.86% | 0.21% |
| Punjab National Bank | 0.21% | 2.91% |
| Mankind Pharma Limited | 0.20% | 0.74% |
| NMDC Limited | 0.19% | 0.48% |
| NHPC Limited | 0.19% | 1.08% |
| Aurobindo Pharma Limited | 0.34% | 0.18% |
| JSW Energy Limited | 0.18% | 0.83% |
| Petronet LNG Limited | 0.17% | 0.60% |
| Torrent Power Limited | 0.17% | 2.48% |
| Dabur India Limited | 0.13% | 1.59% |
| ICICI Prudential Life Insurance Co Limited | 0.13% | 1.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 36.1% means 36.1% 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 |
|---|---|
| Mahindra & Mahindra Limited | 2.05% |
| Bajaj Finance Limited | 1.90% |
| Sun Pharmaceutical Industries Limited | 1.30% |
| Titan Co Limited | 1.29% |
| Eternal Limited | 1.22% |
Largest holdings only in SBI Contra Fund
| Security | % of fund |
|---|---|
| Biocon Ltd. | 3.29% |
| Mahindra & Mahindra Financial Services Ltd. | 1.95% |
| JSW Infrastructure Ltd. | 1.58% |
| Bandhan Bank Ltd. | 1.46% |
| Aster DM Quality Care Ltd. | 1.42% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP MSCI India ETF | SBI Contra |
|---|---|---|
| Equity | 99.5% | 90.9% |
| Debt | 0.0% | 2.2% |
| Cash and others | 0.5% | 6.8% |
Market cap of stocks
| Market cap | DSP MSCI India ETF | SBI Contra |
|---|---|---|
| Large Cap | 80.5% | 50.2% |
| Mid Cap | 19.0% | 24.5% |
| Small Cap | 0.0% | 13.8% |
| Foreign stocks | 0.0% | 2.4% |
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 | SBI Contra |
|---|---|---|
| Banks | 20.3% | 20.2% |
| Pharmaceuticals & Biotechnology | 5.6% | 6.7% |
| IT - Software | 6.5% | 3.6% |
| Petroleum Products | 6.4% | 5.8% |
| Finance | 6.3% | 1.9% |
| Automobiles | 6.2% | 3.9% |
| Power | 3.7% | 5.0% |
| Telecom - Services | 4.7% | 3.9% |
The six largest sectors of each fund's stocks, % of the fund.
DSP MSCI India ETF vs SBI Contra: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP MSCI India ETF | SBI Contra Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.87% |
| Base expense ratio (Direct) | 0.11% | 0.63% |
| Total expense ratio (Regular) | Not available | 1.62% |
| Base expense ratio (Regular) | 0.00% | 1.27% |
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 SBI Contra Fund: Frequently Asked Questions
What is the difference between DSP MSCI India ETF and SBI Contra Fund?
DSP MSCI India ETF is a mutual fund, SBI Contra Fund is a Value and Contra fund, run by DSP Mutual Fund and SBI Mutual Fund. Their portfolios overlap 36.1%. DSP MSCI India ETF charges 0.16% a year and SBI Contra Fund 0.87%.
Which has the lower expense ratio, DSP MSCI India ETF or SBI Contra Fund?
DSP MSCI India ETF charges less: 0.16% a year against 0.87%. These are the total expense ratios reported to AMFI.
How much do DSP MSCI India ETF and SBI Contra Fund overlap?
36.1%. They hold 45 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Can I invest in both DSP MSCI India ETF and SBI Contra Fund?
Yes. 36.1% 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.