Groww Nifty PSU Bank Index Fund vs HDFC NIFTY PSU Bank ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Groww Nifty PSU Bank Index Fund is an Index fund and HDFC NIFTY PSU Bank ETF is an ETF fund. Groww Nifty PSU Bank Index Fund charges 1.32% a year and HDFC NIFTY PSU Bank ETF 0.28%. Their portfolios overlap 100.0%: they hold 12 of the same securities.
Which is better, Groww Nifty PSU Bank Index or HDFC NIFTY PSU Bank ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC NIFTY PSU Bank ETF costs less: 0.28% a year against 1.32%.
- HDFC NIFTY PSU Bank ETF fell less in its worst fall since 27-03-2026: −12.2% against −12.4%.
- HDFC NIFTY PSU Bank ETF is the larger fund: ₹55 Cr against ₹5 Cr.
- Their portfolios overlap 100.0%: 12 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 | Groww Nifty PSU Bank Index Fund | HDFC NIFTY PSU Bank ETF |
|---|---|---|
| Fund house | Groww Mutual Fund | HDFC Mutual Fund |
| Category | Index | ETF |
| AUM | ₹5 Cr (30-09-2026) | ₹55 Cr (30-09-2026) |
| NAV | ₹9.75 (Direct) | ₹83.31 |
| Expense ratio (Direct) | 1.32% | Not available |
| Expense ratio (Regular) | 1.83% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty PSU Bank TRI | Nifty PSU Bank TRI |
| Launch date | 24-03-2026 | 31-01-2024 |
| Minimum investment | ₹500 | On an On-going Basis: A. On the Stock Exchange: All categories of investors may purchase the Units of the Scheme through the Stock Exchange(s) on which the units of the Scheme are listed, on any trading day in round lot of one (1) Unit and multiples there |
| Lock in | None | None |
| Fund managers | Aakash Chauhan, Nikhil Satam, Shashi Kumar | Abhishek Mor, Arun Agarwal |
| Exit load | Nil | Not available |
Groww Nifty PSU Bank Index vs HDFC NIFTY PSU Bank ETF: 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 |
|---|---|---|---|---|---|---|---|
| Groww Nifty PSU Bank Index Fund (Direct) | +2.50% | −1.77% | −3.59% | -- | -- | -- | -- |
| HDFC NIFTY PSU Bank ETF | +2.71% | −1.18% | −2.45% | +2.57% | -- | -- | -- |
Groww Nifty PSU Bank Index vs HDFC NIFTY PSU Bank ETF: Year-wise Returns
| Year | Groww Nifty PSU Bank IndexGroww Nifty PSU Bank Index | HDFC NIFTY PSU Bank ETFHDFC NIFTY PSU Bank ETF | Nifty PSU Bank TRI |
|---|---|---|---|
| 2026to date | -- | −3.08% | −2.78% |
| 2025 | -- | +30.78% | +31.33% |
Groww Nifty PSU Bank Index vs HDFC NIFTY PSU Bank ETF: Rolling Returns
Every holding period of both funds, against Nifty PSU Bank TRI, the benchmark of both
Groww Nifty PSU Bank Index vs HDFC NIFTY PSU Bank ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww Nifty PSU Bank Index Fund (Direct) | HDFC NIFTY PSU Bank ETF |
|---|---|---|
| Return (CAGR) | −1.69% | +10.87% |
| Standard deviation | 22.16% | 25.52% |
| Sharpe ratio | -0.31 | 0.19 |
| Sortino ratio | -0.46 | 0.26 |
| Maximum drawdown | −12.4% (01-10-2026) | −29.7% (03-03-2025) |
| Beta | 0.99 | 1.00 |
| Alpha | −2.58% | −0.40% |
From daily NAVs, 27-03-2026 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.
Groww Nifty PSU Bank Index Fund (Direct)
HDFC NIFTY PSU Bank ETF
Nifty PSU Bank TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww Nifty PSU Bank Index Fund (Direct) | −12.4% | 22-04-2026 | 01-10-2026 | Not yet | -- | −9.3% |
| HDFC NIFTY PSU Bank ETF | −12.2% | 22-04-2026 | 18-05-2026 | Not yet | -- | −8.3% |
| Nifty PSU Bank TRI | −12.2% | 22-04-2026 | 18-05-2026 | Not yet | -- | −8.1% |
From daily values since 27-03-2026, the first day every fund has.
Groww Nifty PSU Bank Index vs HDFC NIFTY PSU Bank ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Groww Nifty PSU Bank Index Fund, September 2026; HDFC NIFTY PSU Bank ETF, September 2026
Holdings in common
- Overlap
- 100.0%
- Held by both
- 12
- Only in Groww Nifty PSU Bank Index
- 0
- Only in HDFC NIFTY PSU Bank ETF
- 0
| Security | % of Groww Nifty PSU Bank Index | % of HDFC NIFTY PSU Bank ETF |
|---|---|---|
| State Bank of India | 33.39% | 33.33% |
| Bank of Baroda | 12.50% | 12.47% |
| Canara Bank | 11.73% | 11.71% |
| Punjab National Bank | 11.38% | 11.36% |
| Union Bank of India | 9.65% | 9.64% |
| Indian Bank | 8.32% | 8.31% |
| Bank of Maharashtra | 4.72% | 4.71% |
| Bank of India | 4.61% | 4.60% |
| Central Bank of India | 1.52% | 1.52% |
| Indian Overseas Bank | 1.32% | 1.32% |
| UCO Bank | 0.77% | 0.77% |
| Punjab & Sind Bank | 0.27% | 0.27% |
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 Groww Nifty PSU Bank Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in HDFC NIFTY PSU Bank ETF
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 | Groww Nifty PSU Bank Index | HDFC NIFTY PSU Bank ETF |
|---|---|---|
| Equity | 100.2% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.2% | -0.0% |
Market cap of stocks
| Market cap | Groww Nifty PSU Bank Index | HDFC NIFTY PSU Bank ETF |
|---|---|---|
| Large Cap | 87.0% | 86.8% |
| Mid Cap | 11.4% | 11.4% |
| Small Cap | 1.8% | 1.8% |
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 | Groww Nifty PSU Bank Index | HDFC NIFTY PSU Bank ETF |
|---|---|---|
| Banks | 100.2% | 100.0% |
The six largest sectors of each fund's stocks, % of the fund.
Groww Nifty PSU Bank Index vs HDFC NIFTY PSU Bank ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww Nifty PSU Bank Index Fund | HDFC NIFTY PSU Bank ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.32% | Not available |
| Base expense ratio (Direct) | 0.40% | 0.00% |
| Total expense ratio (Regular) | 1.83% | Not available |
| Base expense ratio (Regular) | 0.85% | 0.22% |
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.
Groww Nifty PSU Bank Index Fund vs HDFC NIFTY PSU Bank ETF: Frequently Asked Questions
What is the difference between Groww Nifty PSU Bank Index Fund and HDFC NIFTY PSU Bank ETF?
Groww Nifty PSU Bank Index Fund is an Index fund, HDFC NIFTY PSU Bank ETF is an ETF fund, run by Groww Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 100.0%. Groww Nifty PSU Bank Index Fund charges 1.32% a year and HDFC NIFTY PSU Bank ETF 0.28%.
Which has the lower expense ratio, Groww Nifty PSU Bank Index Fund or HDFC NIFTY PSU Bank ETF?
HDFC NIFTY PSU Bank ETF charges less: 0.28% a year against 1.32%. These are the total expense ratios reported to AMFI.
How much do Groww Nifty PSU Bank Index Fund and HDFC NIFTY PSU Bank ETF overlap?
100.0%. They hold 12 of the same securities, the largest shared ones being SBIN, BANKBARODA, CANBK. From each fund's latest monthly portfolio.
Which is riskier, Groww Nifty PSU Bank Index Fund or HDFC NIFTY PSU Bank ETF?
On SEBI's riskometer, Groww Nifty PSU Bank Index Fund is rated Very High and HDFC NIFTY PSU Bank ETF Very High. Over their common history, the standard deviation of daily returns was 22.16% and 25.52% a year.
Can I invest in both Groww Nifty PSU Bank Index Fund and HDFC NIFTY PSU Bank ETF?
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 Groww Nifty PSU Bank Index Fund and HDFC NIFTY PSU Bank ETF?
Groww Nifty PSU Bank Index Fund: Aakash Chauhan, Nikhil Satam, Shashi Kumar. HDFC NIFTY PSU Bank ETF: Abhishek Mor, Arun Agarwal.
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.