DSP Nifty Bank ETF vs DSP NIFTY Bank Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
DSP Nifty Bank ETF is an ETF fund and DSP NIFTY Bank Index Fund is an Index fund. In the year to 30-10-2026, DSP Nifty Bank ETF returned −5.3% and DSP NIFTY Bank Index Fund (Direct) returned −5.4%. DSP Nifty Bank ETF charges 0.17% a year and DSP NIFTY Bank Index Fund 0.27%. Their portfolios overlap 100.0%: they hold 14 of the same securities.
DSP NIFTY Bank Index Fund
Index
- 1 year return
- −5.4%
- Expense ratio
- 0.27%
- NAV
- ₹11.28
Which is better, DSP Nifty Bank ETF or DSP NIFTY Bank Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Nifty Bank ETF returned more over 1 year: −5.3% against −5.4%.
- DSP Nifty Bank ETF costs less: 0.17% a year against 0.27%.
- DSP Nifty Bank ETF fell less in its worst fall since 31-05-2024: −18.3% against −18.3%.
- DSP Nifty Bank ETF is the larger fund: ₹421 Cr against ₹61 Cr.
- Their portfolios overlap 100.0%: 14 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 Nifty Bank ETF | DSP NIFTY Bank Index Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | ETF | Index |
| AUM | ₹421 Cr (30-09-2026) | ₹61 Cr (30-09-2026) |
| NAV | ₹56.07 | ₹11.28 (Direct) |
| Expense ratio (Direct) | Not available | 0.27% |
| Expense ratio (Regular) | Not available | 0.99% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Bank TRI | Nifty Bank TRI |
| Launch date | 03-01-2023 | 31-05-2024 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Anil Ghelani, Diipesh Shah, Neha Rathi | Anil Ghelani, Diipesh Shah, Neha Rathi |
| Exit load | Nil | Nil |
DSP Nifty Bank ETF vs DSP NIFTY Bank Index: 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 Nifty Bank ETF | +0.09% | −4.15% | +0.26% | −5.32% | +8.96% | -- | -- |
| DSP NIFTY Bank Index Fund (Direct) | +0.08% | −4.17% | +0.23% | −5.41% | -- | -- | -- |
DSP Nifty Bank ETF vs DSP NIFTY Bank Index: Year-wise Returns
| Year | ETFDSP Nifty Bank ETF | IndexDSP NIFTY Bank Index | Nifty Bank TRI |
|---|---|---|---|
| 2026to date | −7.74% | −7.83% | −7.61% |
| 2025 | +17.87% | +17.81% | +18.08% |
| 2024 | +6.03% | -- | +6.26% |
DSP Nifty Bank ETF vs DSP NIFTY Bank Index: Rolling Returns
Every holding period of both funds, against Nifty Bank TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 350 of them, one for each trading day from 02-06-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
DSP Nifty Bank ETF
DSP NIFTY Bank Index Fund (Direct)
Nifty Bank TRI
to
Jul 2025Oct 2024
to
Oct 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Nifty Bank ETF | 12.9 | 26.0 | 20.9 | 20.3 | 8.9 | 9.7 | 1.4 | 8.6% | 8.1% | −6.7% | 26.6% | 0% |
| DSP NIFTY Bank Index | 13.2 | 25.8 | 21.8 | 19.5 | 9.2 | 9.2 | 1.4 | 8.5% | 7.9% | −6.8% | 26.5% | 0% |
| Nifty Bank TRI | 12.3 | 25.1 | 21.4 | 20.9 | 9.1 | 8.6 | 2.6 | 8.8% | 8.3% | −6.5% | 26.9% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty Bank TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 31-05-2024. Past returns do not promise future returns.
DSP Nifty Bank ETF vs DSP NIFTY Bank Index: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 02-05-2024 to 30-10-2026: 30 instalments, ₹3,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Nifty Bank ETFDSP Nifty Bank ETF | ₹3,00,000 | ₹3,05,798 | ₹5,798 | 1.5% |
| DSP NIFTY Bank IndexDSP NIFTY Bank Index Fund (Direct) | ₹3,00,000 | ₹3,05,453 | ₹5,453 | 1.4% |
DSP Nifty Bank ETFDSP Nifty Bank ETF
DSP NIFTY Bank IndexDSP NIFTY Bank Index Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
DSP Nifty Bank ETF vs DSP NIFTY Bank Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Nifty Bank ETF | DSP NIFTY Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.32% | −5.41% |
| Standard deviation | 17.01% | 16.96% |
| Sharpe ratio | -0.62 | -0.63 |
| Sortino ratio | -0.86 | -0.87 |
| Maximum drawdown | −18.3% (31-03-2026) | −18.3% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.19% | −0.28% |
From daily NAVs, 30-10-2025 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.
| Measure | DSP Nifty Bank ETF | DSP NIFTY Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.94% | +5.16% |
| Standard deviation | 15.25% | 16.33% |
| Sharpe ratio | 0.05 | -0.04 |
| Sortino ratio | 0.07 | -0.06 |
| Maximum drawdown | −18.3% (31-03-2026) | −18.3% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.16% | −0.28% |
From daily NAVs, 03-01-2023 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 Nifty Bank ETF
DSP NIFTY Bank Index Fund (Direct)
Nifty Bank TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Nifty Bank ETF | −18.3% | 18-02-2026 | 31-03-2026 | Not yet | -- | −10.7% |
| DSP NIFTY Bank Index Fund (Direct) | −18.3% | 18-02-2026 | 31-03-2026 | Not yet | -- | −10.7% |
| Nifty Bank TRI | −18.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.6% |
From daily values since 31-05-2024, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
DSP Nifty Bank ETF
DSP NIFTY Bank Index Fund (Direct)
Nifty Bank TRI
Against Nifty Bank TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Nifty Bank ETF | 99% | 100% | 0.04% |
| DSP NIFTY Bank Index Fund (Direct) | 99% | 101% | 0.06% |
From month-end values since 31-05-2024. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
DSP Nifty Bank ETF vs DSP NIFTY Bank Index: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Nifty Bank ETF, September 2026; DSP NIFTY Bank Index Fund, September 2026
Holdings in common
- Overlap
- 100.0%
- Held by both
- 14
- Only in DSP Nifty Bank ETF
- 0
- Only in DSP NIFTY Bank Index
- 0
| Security | % of DSP Nifty Bank ETF | % of DSP NIFTY Bank Index |
|---|---|---|
| HDFC Bank Limited | 18.61% | 18.61% |
| ICICI Bank Limited | 14.18% | 14.17% |
| Kotak Mahindra Bank Limited | 10.20% | 10.20% |
| Axis Bank Limited | 10.05% | 10.05% |
| State Bank of India | 9.92% | 9.92% |
| Federal Bank Limited | 6.56% | 6.56% |
| IndusInd Bank Limited | 4.97% | 4.97% |
| AU Small Finance Bank Limited | 4.85% | 4.85% |
| IDFC First Bank Limited | 4.54% | 4.54% |
| Bank of Baroda | 3.59% | 3.59% |
| Canara Bank | 3.36% | 3.36% |
| Punjab National Bank | 3.27% | 3.27% |
| Yes Bank Limited | 3.01% | 3.01% |
| Union Bank Of India | 2.86% | 2.86% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 100.0% means 100.0% 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 Nifty Bank ETF
Every holding of this fund is also held by the other.
Largest holdings only in DSP NIFTY Bank Index Fund
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Nifty Bank ETF | DSP NIFTY Bank Index |
|---|---|---|
| Equity | 100.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 0.0% |
Market cap of stocks
| Market cap | DSP Nifty Bank ETF | DSP NIFTY Bank Index |
|---|---|---|
| Large Cap | 76.0% | 76.0% |
| Mid Cap | 23.9% | 23.9% |
| Small Cap | 0.0% | 0.0% |
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 Nifty Bank ETF | DSP NIFTY Bank Index |
|---|---|---|
| Banks | 100.0% | 100.0% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Nifty Bank ETF vs DSP NIFTY Bank Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Nifty Bank ETF | DSP NIFTY Bank Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.27% |
| Base expense ratio (Direct) | 0.13% | 0.17% |
| Total expense ratio (Regular) | Not available | 0.99% |
| Base expense ratio (Regular) | 0.00% | 0.80% |
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.
DSP Nifty Bank ETF vs DSP NIFTY Bank Index Fund: Frequently Asked Questions
What is the difference between DSP Nifty Bank ETF and DSP NIFTY Bank Index Fund?
DSP Nifty Bank ETF is an ETF fund, DSP NIFTY Bank Index Fund is an Index fund, run by DSP Mutual Fund. Their portfolios overlap 100.0%. DSP Nifty Bank ETF charges 0.17% a year and DSP NIFTY Bank Index Fund 0.27%.
Which has given higher returns, DSP Nifty Bank ETF or DSP NIFTY Bank Index Fund?
Over 1 year: DSP Nifty Bank ETF −5.32%, DSP NIFTY Bank Index Fund −5.41%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Nifty Bank ETF or DSP NIFTY Bank Index Fund?
DSP Nifty Bank ETF charges less: 0.17% a year against 0.27%. These are the total expense ratios reported to AMFI.
How much do DSP Nifty Bank ETF and DSP NIFTY Bank Index Fund overlap?
100.0%. They hold 14 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, DSP Nifty Bank ETF or DSP NIFTY Bank Index Fund?
On SEBI's riskometer, DSP Nifty Bank ETF is rated Very High and DSP NIFTY Bank Index Fund Very High. Over 1 years, the standard deviation of daily returns was 17.01% and 16.96% a year.
Can I invest in both DSP Nifty Bank ETF and DSP NIFTY Bank Index Fund?
Yes. 100.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP Nifty Bank ETF and DSP NIFTY Bank Index Fund?
DSP Nifty Bank ETF: Anil Ghelani, Diipesh Shah, Neha Rathi. DSP NIFTY Bank Index Fund: Anil Ghelani, Diipesh Shah, Neha Rathi.
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.