HDFC Banking & Financial Services Fund vs Mirae Asset Nifty Financial Services ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
HDFC Banking & Financial Services Fund is a Thematic fund and Mirae Asset Nifty Financial Services ETF is an ETF fund. In the 3 years to 30-10-2026, HDFC Banking & Financial Services Fund (Direct) returned 11.0% a year and Mirae Asset Nifty Financial Services ETF returned 9.6% a year. HDFC Banking & Financial Services Fund charges 0.96% a year and Mirae Asset Nifty Financial Services ETF 0.20%. Their portfolios overlap 63.6%: they hold 12 of the same securities.
HDFC Banking & Financial Services Fund
Thematic
- 3 year return
- 11.0%
- Expense ratio
- 0.96%
- NAV
- ₹17.86
Mirae Asset Nifty Financial Services ETF
ETF
- 3 year return
- 9.6%
- Expense ratio
- 0.20%
- NAV
- ₹25.73
Which is better, HDFC Banking & Financial Services or Mirae Asset Nifty Financial Services 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 Banking & Financial Services returned more over 5 years: 10.0% a year against 6.5%.
- HDFC Banking & Financial Services returned more over 3 years: 11.0% a year against 9.6%.
- Mirae Asset Nifty Financial Services ETF costs less: 0.20% a year against 0.96%.
- HDFC Banking & Financial Services swung less over 3 years: a standard deviation of 15.8% a year against 16.2%.
- HDFC Banking & Financial Services fell less in its worst fall since 02-08-2021: −21.7% against −23.2%.
- Mirae Asset Nifty Financial Services ETF holds more in large companies: 95.2% of the fund in large caps against 68.8%.
- HDFC Banking & Financial Services is the larger fund: ₹4,425 Cr against ₹369 Cr.
- Their portfolios overlap 63.6%: 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 | HDFC Banking & Financial Services Fund | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Fund house | HDFC Mutual Fund | Mirae Asset Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹4,425 Cr (30-09-2026) | ₹369 Cr (30-09-2026) |
| NAV | ₹17.86 (Direct) | ₹25.73 |
| Expense ratio (Direct) | 0.96% | Not available |
| Expense ratio (Regular) | 1.99% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Financial Services TRI | Nifty Financial Services TRI |
| Launch date | 01-07-2021 | 30-07-2021 |
| Minimum investment | ₹100 | On exchange ( in multiple of 1 units), Directly with AMC (in multiple of 3,00,000 units) |
| Lock in | None | None |
| Fund managers | Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar | Ekta Gala, amp, Ritesh Patel |
| Exit load | In respect of each purchase/switch in of units- an Exit load of 1% is payable if units are redeemed/switched out within 30 days from the date of allotment. No Exit Load is payable if units are redeemed/switched-out after 30 days from the date of allotment. | NIL |
HDFC Banking & Financial Services vs Mirae Asset Nifty Financial Services 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 |
|---|---|---|---|---|---|---|---|
| HDFC Banking & Financial Services Fund (Direct) | −2.25% | −7.01% | −3.14% | −5.10% | +11.03% | +10.01% | -- |
| Mirae Asset Nifty Financial Services ETF | +0.29% | −5.67% | −2.95% | −9.05% | +9.59% | +6.50% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Banking & Financial Services vs Mirae Asset Nifty Financial Services ETF: Year-wise Returns
| Year | HDFC Banking & Financial ServicesHDFC Banking & Financial Services | Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF | Nifty Financial Services TRI |
|---|---|---|---|
| 2026to date | −7.43% | −9.79% | −9.69% |
| 2025 | +18.13% | +18.40% | +18.60% |
| 2024 | +11.28% | +10.31% | +10.52% |
| 2023 | +23.24% | +14.26% | +14.31% |
| 2022 | +16.99% | +10.34% | +10.47% |
HDFC Banking & Financial Services vs Mirae Asset Nifty Financial Services ETF: Rolling Returns
Every holding period of both funds, against Nifty Financial Services TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 553 of them, one for each trading day from 02-08-2024 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.
HDFC Banking & Financial Services Fund (Direct)
Mirae Asset Nifty Financial Services ETF
Nifty Financial Services TRI
to
Oct 2024Feb 2022
to
Feb 2025Jul 2022
to
Jul 2025Nov 2022
to
Nov 2025Apr 2023
to
Apr 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Banking & Financial Services | 0.0 | 0.0 | 0.0 | 33.1 | 53.7 | 10.7 | 2.5 | 16.8% | 16.7% | 10.8% | 26.1% | 100% |
| Mirae Asset Nifty Financial Services ETF | 0.0 | 0.0 | 19.8 | 55.0 | 21.1 | 4.1 | 0.0 | 13.0% | 12.6% | 7.3% | 21.8% | 1% |
| Nifty Financial Services TRI | 0.0 | 0.0 | 17.7 | 55.9 | 22.1 | 4.3 | 0.0 | 13.1% | 12.7% | 7.4% | 21.9% | -- |
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 Financial Services 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 02-08-2021. Past returns do not promise future returns.
HDFC Banking & Financial Services vs Mirae Asset Nifty Financial Services ETF: 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 02-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Banking & Financial ServicesHDFC Banking & Financial Services Fund (Direct) | ₹6,30,000 | ₹8,17,746 | ₹1,87,746 | 9.9% |
| Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF | ₹6,30,000 | ₹7,54,506 | ₹1,24,506 | 6.8% |
HDFC Banking & Financial ServicesHDFC Banking & Financial Services Fund (Direct)
Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF
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.
HDFC Banking & Financial Services vs Mirae Asset Nifty Financial Services ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Banking & Financial Services Fund (Direct) | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Return (CAGR) | −5.10% | −9.05% |
| Standard deviation | 17.32% | 17.61% |
| Sharpe ratio | -0.60 | -0.81 |
| Sortino ratio | -0.83 | -1.12 |
| Maximum drawdown | −17.1% (30-03-2026) | −17.3% (30-03-2026) |
| Beta | 0.96 | 1.00 |
| Alpha | +3.27% | −0.18% |
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 | HDFC Banking & Financial Services Fund (Direct) | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Return (CAGR) | +11.03% | +9.59% |
| Standard deviation | 15.81% | 16.22% |
| Sharpe ratio | 0.32 | 0.22 |
| Sortino ratio | 0.44 | 0.31 |
| Maximum drawdown | −17.1% (30-03-2026) | −17.3% (30-03-2026) |
| Beta | 0.94 | 1.00 |
| Alpha | +1.48% | −0.17% |
From daily NAVs, 30-10-2023 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.
| Measure | HDFC Banking & Financial Services Fund (Direct) | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Return (CAGR) | +10.01% | +6.50% |
| Standard deviation | 16.15% | 16.68% |
| Sharpe ratio | 0.26 | 0.04 |
| Sortino ratio | 0.36 | 0.06 |
| Maximum drawdown | −20.3% (16-06-2022) | −21.4% (16-06-2022) |
| Beta | 0.94 | 1.00 |
| Alpha | +3.43% | −0.14% |
From daily NAVs, 29-10-2021 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 | HDFC Banking & Financial Services Fund (Direct) | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Return (CAGR) | +11.68% | +8.81% |
| Standard deviation | 15.98% | 16.60% |
| Sharpe ratio | 0.38 | 0.19 |
| Sortino ratio | 0.52 | 0.26 |
| Maximum drawdown | −21.7% (16-06-2022) | −23.2% (16-06-2022) |
| Beta | 0.93 | 1.00 |
| Alpha | +2.88% | −0.13% |
From daily NAVs, 01-07-2021 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.
HDFC Banking & Financial Services Fund (Direct)
Mirae Asset Nifty Financial Services ETF
Nifty Financial Services TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Banking & Financial Services Fund (Direct) | −21.7% | 26-10-2021 | 16-06-2022 | 11-11-2022 | 5 months | −10.1% |
| Mirae Asset Nifty Financial Services ETF | −23.2% | 26-10-2021 | 16-06-2022 | 15-05-2023 | 11 months | −12.5% |
| Nifty Financial Services TRI | −23.1% | 26-10-2021 | 16-06-2022 | 04-05-2023 | 11 months | −12.4% |
From daily values since 02-08-2021, 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.
HDFC Banking & Financial Services Fund (Direct)
Mirae Asset Nifty Financial Services ETF
Nifty Financial Services TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Banking & Financial Services Fund (Direct)
Mirae Asset Nifty Financial Services ETF
Nifty Financial Services TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Banking & Financial Services Fund (Direct)
Mirae Asset Nifty Financial Services ETF
Nifty Financial Services TRI
Against Nifty Financial Services TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Banking & Financial Services Fund (Direct) | 108% | 92% | 4.67% |
| Mirae Asset Nifty Financial Services ETF | 100% | 100% | 0.06% |
From month-end values since 02-08-2021. 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.
HDFC Banking & Financial Services vs Mirae Asset Nifty Financial Services ETF: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Banking & Financial Services Fund, September 2026; Mirae Asset Nifty Financial Services ETF, September 2026
Holdings in common
- Overlap
- 63.6%
- Held by both
- 12
- Only in HDFC Banking & Financial Services
- 25
- Only in Mirae Asset Nifty Financial Services ETF
- 8
| Security | % of HDFC Banking & Financial Services | % of Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| ICICI Bank Ltd. | 13.85% | 14.20% |
| HDFC Bank Ltd. | 12.89% | 18.64% |
| Kotak Mahindra Bank Limited | 8.61% | 10.11% |
| Axis Bank Ltd. | 7.76% | 10.18% |
| State Bank of India | 6.07% | 9.94% |
| Shriram Finance Ltd. | 4.22% | 4.53% |
| Bajaj Finance Ltd. | 3.96% | 8.62% |
| SBI Life Insurance Company Ltd. | 3.72% | 2.51% |
| ICICI Lombard General Insurance Co | 1.89% | 1.25% |
| Max Financial Services Ltd. | 1.40% | 1.18% |
| Bombay Stock Exchange Limited (BSE) | 0.70% | 4.16% |
| HDFC Life Insurance Company Limited | 0.59% | 1.85% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 63.6% means 63.6% 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 HDFC Banking & Financial Services Fund
| Security | % of fund |
|---|---|
| Five-Star Business Finance Limited | 2.67% |
| Au Small Finance Bank Ltd. | 2.40% |
| Karur Vysya Bank Ltd. | 1.91% |
| Home First Finance Company India Ltd | 1.71% |
| Angel One Ltd. | 1.67% |
Largest holdings only in Mirae Asset Nifty Financial Services ETF
| Security | % of fund |
|---|---|
| Bajaj Finserv Ltd. | 3.31% |
| Jio Financial Services Ltd. | 2.34% |
| Cholamandalam Investment & Finance Co. Ltd. | 2.31% |
| Power Finance Corporation Ltd. | 1.56% |
| REC Ltd. | 1.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Banking & Financial Services | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Equity | 99.4% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.6% | -0.0% |
Market cap of stocks
| Market cap | HDFC Banking & Financial Services | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Large Cap | 68.8% | 95.2% |
| Mid Cap | 11.1% | 4.2% |
| Small Cap | 17.4% | 0.5% |
| Not on AMFI's list | 2.1% | 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 | HDFC Banking & Financial Services | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Banks | 58.3% | 63.1% |
| Finance | 22.8% | 26.0% |
| Insurance | 9.2% | 6.8% |
| Capital Markets | 8.4% | 4.2% |
| Financial Technology (Fintech) | 0.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Banking & Financial Services vs Mirae Asset Nifty Financial Services ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Banking & Financial Services Fund | Mirae Asset Nifty Financial Services ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.96% | Not available |
| Base expense ratio (Direct) | 0.74% | 0.00% |
| Total expense ratio (Regular) | 1.99% | Not available |
| Base expense ratio (Regular) | 1.62% | 0.11% |
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.
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HDFC Banking & Financial Services Fund vs Mirae Asset Nifty Financial Services ETF: Frequently Asked Questions
What is the difference between HDFC Banking & Financial Services Fund and Mirae Asset Nifty Financial Services ETF?
HDFC Banking & Financial Services Fund is a Thematic fund, Mirae Asset Nifty Financial Services ETF is an ETF fund, run by HDFC Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 63.6%. HDFC Banking & Financial Services Fund charges 0.96% a year and Mirae Asset Nifty Financial Services ETF 0.20%.
Which has given higher returns, HDFC Banking & Financial Services Fund or Mirae Asset Nifty Financial Services ETF?
Over 1 year: HDFC Banking & Financial Services Fund −5.10%, Mirae Asset Nifty Financial Services ETF −9.05%. Over 3 years: HDFC Banking & Financial Services Fund +11.03% a year, Mirae Asset Nifty Financial Services ETF +9.59% a year. Over 5 years: HDFC Banking & Financial Services Fund +10.01% a year, Mirae Asset Nifty Financial Services ETF +6.50% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Banking & Financial Services Fund or Mirae Asset Nifty Financial Services ETF?
Mirae Asset Nifty Financial Services ETF charges less: 0.20% a year against 0.96%. These are the total expense ratios reported to AMFI.
How much do HDFC Banking & Financial Services Fund and Mirae Asset Nifty Financial Services ETF overlap?
63.6%. They hold 12 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Banking & Financial Services Fund or Mirae Asset Nifty Financial Services ETF?
On SEBI's riskometer, HDFC Banking & Financial Services Fund is rated Very High and Mirae Asset Nifty Financial Services ETF Very High. Over 3 years, the standard deviation of daily returns was 15.81% and 16.22% a year.
Which is better for SIP, HDFC Banking & Financial Services Fund or Mirae Asset Nifty Financial Services ETF?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,83,015 in HDFC Banking & Financial Services Fund (XIRR 9.8% a year) and ₹7,24,663 in Mirae Asset Nifty Financial Services ETF (XIRR 6.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Banking & Financial Services Fund and Mirae Asset Nifty Financial Services ETF?
Yes. 63.6% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Banking & Financial Services Fund and Mirae Asset Nifty Financial Services ETF?
HDFC Banking & Financial Services Fund: Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar. Mirae Asset Nifty Financial Services ETF: Ekta Gala, amp, Ritesh Patel.
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.