HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private Bank Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
HDFC NIFTY Private Bank ETF is an ETF fund and ICICI Prudential Nifty Private Bank Index Fund is an Index fund. In the year to 30-10-2026, HDFC NIFTY Private Bank ETF returned −3.9% and ICICI Prudential Nifty Private Bank Index Fund (Direct) returned −4.2%. HDFC NIFTY Private Bank ETF charges 0.17% a year and ICICI Prudential Nifty Private Bank Index Fund 0.65%. Their portfolios overlap 99.8%: they hold 10 of the same securities.
HDFC NIFTY Private Bank ETF
ETF
- 1 year return
- −3.9%
- Expense ratio
- 0.17%
- NAV
- ₹27.61
ICICI Prudential Nifty Private Bank Index Fund
Index
- 1 year return
- −4.2%
- Expense ratio
- 0.65%
- NAV
- ₹9.72
Which is better, HDFC NIFTY Private Bank ETF or ICICI Prudential Nifty Private 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.
- HDFC NIFTY Private Bank ETF returned more over 1 year: −3.9% against −4.2%.
- HDFC NIFTY Private Bank ETF costs less: 0.17% a year against 0.65%.
- ICICI Prudential Nifty Private Bank Index fell less in its worst fall since 18-07-2025: −17.1% against −17.3%.
- HDFC NIFTY Private Bank ETF is the larger fund: ₹481 Cr against ₹57 Cr.
- Their portfolios overlap 99.8%: 10 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 NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank Index Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | ETF | Index |
| AUM | ₹481 Cr (30-09-2026) | ₹57 Cr (30-09-2026) |
| NAV | ₹27.61 | ₹9.72 (Direct) |
| Expense ratio (Direct) | Not available | 0.65% |
| Expense ratio (Regular) | Not available | 1.20% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty Private Bank TRI | Nifty Private Bank TRI |
| Launch date | 16-11-2022 | 17-07-2025 |
| Minimum investment | On an On-going Basis: A. On the Stock Exchange: Investors (including Market Makers and Large Investors) can subscribe (buy) Units on a continuous basis on the Stock Exchanges, in minimum lot of 1 (one) unit and in multiples thereof. B. Directly with the F | ₹1,000 |
| Lock in | None | None |
| Fund managers | Abhishek Mor, Arun Agarwal | Nishit Patel, Ashwini Shinde |
| Exit load | Not available | Nil |
HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private 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 |
|---|---|---|---|---|---|---|---|
| HDFC NIFTY Private Bank ETF | +1.33% | −1.50% | +3.47% | −3.87% | +7.08% | -- | -- |
| ICICI Prudential Nifty Private Bank Index Fund (Direct) | +1.26% | −1.56% | +3.27% | −4.16% | -- | -- | -- |
HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private Bank Index: Year-wise Returns
| Year | HDFC NIFTY Private Bank ETFHDFC NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank IndexICICI Prudential Nifty Private Bank Index | Nifty Private Bank TRI |
|---|---|---|---|
| 2026to date | −5.37% | −5.58% | −5.24% |
| 2025 | +16.37% | -- | +16.55% |
| 2024 | +0.17% | -- | +0.41% |
| 2023 | +14.46% | -- | +14.63% |
HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private Bank Index: Rolling Returns
Every holding period of both funds, against Nifty Private Bank TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 70 of them, one for each trading day from 20-07-2026 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 NIFTY Private Bank ETF
ICICI Prudential Nifty Private Bank Index Fund (Direct)
Nifty Private Bank TRI
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 NIFTY Private Bank ETF | 30.0 | 57.1 | 12.9 | 0.0 | 0.0 | 0.0 | 0.0 | 1.4% | 1.7% | −6.3% | 7.9% | 0% |
| ICICI Prudential Nifty Private Bank Index | 34.3 | 52.9 | 12.9 | 0.0 | 0.0 | 0.0 | 0.0 | 1.0% | 1.3% | −6.6% | 7.5% | 0% |
| Nifty Private Bank TRI | 30.0 | 57.1 | 12.9 | 0.0 | 0.0 | 0.0 | 0.0 | 1.6% | 1.9% | −6.1% | 8.1% | -- |
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 Private 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 18-07-2025. Past returns do not promise future returns.
HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private 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 01-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC NIFTY Private Bank ETFHDFC NIFTY Private Bank ETF | ₹1,60,000 | ₹1,58,919 | −₹1,081 | −1.0% |
| ICICI Prudential Nifty Private Bank IndexICICI Prudential Nifty Private Bank Index Fund (Direct) | ₹1,60,000 | ₹1,58,670 | −₹1,330 | −1.2% |
HDFC NIFTY Private Bank ETFHDFC NIFTY Private Bank ETF
ICICI Prudential Nifty Private Bank IndexICICI Prudential Nifty Private 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.
HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private Bank Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.87% | −4.16% |
| Standard deviation | 16.81% | 16.69% |
| Sharpe ratio | -0.54 | -0.56 |
| Sortino ratio | -0.76 | -0.79 |
| Maximum drawdown | −17.3% (31-03-2026) | −17.1% (31-03-2026) |
| Beta | 1.00 | 0.99 |
| Alpha | −0.17% | −0.52% |
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 NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.34% | −2.23% |
| Standard deviation | 15.19% | 15.49% |
| Sharpe ratio | 0.01 | -0.49 |
| Sortino ratio | 0.01 | -0.68 |
| Maximum drawdown | −17.3% (31-03-2026) | −17.1% (31-03-2026) |
| Beta | 1.00 | 0.99 |
| Alpha | −0.19% | −1.62% |
From daily NAVs, 16-11-2022 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 NIFTY Private Bank ETF
ICICI Prudential Nifty Private Bank Index Fund (Direct)
Nifty Private Bank TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC NIFTY Private Bank ETF | −17.3% | 18-02-2026 | 31-03-2026 | Not yet | -- | −6.9% |
| ICICI Prudential Nifty Private Bank Index Fund (Direct) | −17.1% | 18-02-2026 | 31-03-2026 | Not yet | -- | −7.0% |
| Nifty Private Bank TRI | −17.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −6.8% |
From daily values since 18-07-2025, 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 NIFTY Private Bank ETF
ICICI Prudential Nifty Private Bank Index Fund (Direct)
Nifty Private Bank TRI
Against Nifty Private Bank TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC NIFTY Private Bank ETF | 100% | 100% | 0.01% |
| ICICI Prudential Nifty Private Bank Index Fund (Direct) | 97% | 100% | 0.24% |
From month-end values since 18-07-2025. 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 NIFTY Private Bank ETF vs ICICI Prudential Nifty Private Bank Index: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC NIFTY Private Bank ETF, September 2026; ICICI Prudential Nifty Private Bank Index Fund, September 2026
Holdings in common
- Overlap
- 99.8%
- Held by both
- 10
- Only in HDFC NIFTY Private Bank ETF
- 0
- Only in ICICI Prudential Nifty Private Bank Index
- 0
| Security | % of HDFC NIFTY Private Bank ETF | % of ICICI Prudential Nifty Private Bank Index |
|---|---|---|
| ICICI Bank Ltd. | 21.53% | 21.49% |
| HDFC Bank Ltd. | 20.83% | 20.79% |
| Kotak Mahindra Bank Limited | 19.84% | 19.80% |
| Axis Bank Ltd. | 19.28% | 19.24% |
| The Federal Bank Ltd. | 5.35% | 5.35% |
| Indusind Bank Ltd. | 4.06% | 4.05% |
| IDFC First Bank Limited | 3.69% | 3.69% |
| Yes Bank Ltd. | 2.51% | 2.51% |
| RBL Bank Ltd. | 1.71% | 1.70% |
| Bandhan Bank Ltd. | 1.20% | 1.20% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.8% means 99.8% 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 NIFTY Private Bank ETF
Every holding of this fund is also held by the other.
Largest holdings only in ICICI Prudential Nifty Private 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 | HDFC NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank Index |
|---|---|---|
| Equity | 100.0% | 99.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 0.2% |
Market cap of stocks
| Market cap | HDFC NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank Index |
|---|---|---|
| Large Cap | 81.5% | 81.3% |
| Mid Cap | 15.6% | 15.6% |
| Small Cap | 2.9% | 2.9% |
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 NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank Index |
|---|---|---|
| Banks | 100.0% | 99.8% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private Bank Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC NIFTY Private Bank ETF | ICICI Prudential Nifty Private Bank Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.65% |
| Base expense ratio (Direct) | 0.00% | 0.30% |
| Total expense ratio (Regular) | Not available | 1.20% |
| Base expense ratio (Regular) | 0.13% | 0.77% |
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.
HDFC NIFTY Private Bank ETF vs ICICI Prudential Nifty Private Bank Index Fund: Frequently Asked Questions
What is the difference between HDFC NIFTY Private Bank ETF and ICICI Prudential Nifty Private Bank Index Fund?
HDFC NIFTY Private Bank ETF is an ETF fund, ICICI Prudential Nifty Private Bank Index Fund is an Index fund, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 99.8%. HDFC NIFTY Private Bank ETF charges 0.17% a year and ICICI Prudential Nifty Private Bank Index Fund 0.65%.
Which has given higher returns, HDFC NIFTY Private Bank ETF or ICICI Prudential Nifty Private Bank Index Fund?
Over 1 year: HDFC NIFTY Private Bank ETF −3.87%, ICICI Prudential Nifty Private Bank Index Fund −4.16%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC NIFTY Private Bank ETF or ICICI Prudential Nifty Private Bank Index Fund?
HDFC NIFTY Private Bank ETF charges less: 0.17% a year against 0.65%. These are the total expense ratios reported to AMFI.
How much do HDFC NIFTY Private Bank ETF and ICICI Prudential Nifty Private Bank Index Fund overlap?
99.8%. They hold 10 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Can I invest in both HDFC NIFTY Private Bank ETF and ICICI Prudential Nifty Private Bank Index Fund?
Yes. 99.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC NIFTY Private Bank ETF and ICICI Prudential Nifty Private Bank Index Fund?
HDFC NIFTY Private Bank ETF: Abhishek Mor, Arun Agarwal. ICICI Prudential Nifty Private Bank Index Fund: Nishit Patel, Ashwini Shinde.
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.