ICICI Prudential Nifty Bank ETF vs Navi Nifty Bank Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
ICICI Prudential Nifty Bank ETF is an ETF fund and Navi Nifty Bank Index Fund is an Index fund. In the 3 years to 30-10-2026, ICICI Prudential Nifty Bank ETF returned 9.0% a year and Navi Nifty Bank Index Fund (Direct) returned 8.9% a year. ICICI Prudential Nifty Bank ETF charges 0.17% a year and Navi Nifty Bank Index Fund 0.23%. Their portfolios overlap 100.0%: they hold 14 of the same securities.
ICICI Prudential Nifty Bank ETF
ETF
- 3 year return
- 9.0%
- Expense ratio
- 0.17%
- NAV
- ₹56.22
Navi Nifty Bank Index Fund
Index
- 3 year return
- 8.9%
- Expense ratio
- 0.23%
- NAV
- ₹14.43
Which is better, ICICI Prudential Nifty Bank ETF or Navi 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.
- ICICI Prudential Nifty Bank ETF returned more over 3 years: 9.0% a year against 8.9%.
- ICICI Prudential Nifty Bank ETF returned more over 1 year: −5.3% against −5.4%.
- ICICI Prudential Nifty Bank ETF costs less: 0.17% a year against 0.23%.
- Navi Nifty Bank Index swung less over 3 years: a standard deviation of 15.9% a year against 16.0%.
- ICICI Prudential Nifty Bank ETF fell less in its worst fall since 04-02-2022: −18.4% against −18.4%.
- ICICI Prudential Nifty Bank ETF is the larger fund: ₹2,438 Cr against ₹613 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 | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Navi Mutual Fund |
| Category | ETF | Index |
| AUM | ₹2,438 Cr (30-09-2026) | ₹613 Cr (30-09-2026) |
| NAV | ₹56.22 | ₹14.43 (Direct) |
| Expense ratio (Direct) | Not available | 0.23% |
| Expense ratio (Regular) | Not available | 1.11% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty Bank TRI | Nifty Bank TRI |
| Launch date | 10-07-2019 | 04-02-2022 |
| Minimum investment | During Ongoing/Continuous Offer: On Stock Exchanges: Investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy or sell units of the scheme in creation unit size and its mul | ₹100 |
| Lock in | None | None |
| Fund managers | Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja | Ashutosh Shirwaikar |
| Exit load | Not available | NIL |
ICICI Prudential Nifty Bank ETF vs Navi 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Nifty Bank ETF | +0.09% | −4.19% | +0.23% | −5.35% | +8.97% | +7.60% | -- |
| Navi Nifty Bank Index Fund (Direct) | +0.08% | −4.18% | +0.23% | −5.42% | +8.90% | -- | -- |
ICICI Prudential Nifty Bank ETF vs Navi Nifty Bank Index: Year-wise Returns
| Year | ICICI Prudential Nifty Bank ETFICICI Prudential Nifty Bank ETF | Navi Nifty Bank IndexNavi Nifty Bank Index | Nifty Bank TRI |
|---|---|---|---|
| 2026to date | −7.78% | −7.82% | −7.61% |
| 2025 | +17.91% | +17.79% | +18.08% |
| 2024 | +6.07% | +6.01% | +6.26% |
| 2023 | +13.15% | +12.78% | +13.29% |
| 2022 | +21.90% | -- | +22.14% |
| 2021 | +13.76% | -- | +13.90% |
ICICI Prudential Nifty Bank ETF vs Navi Nifty Bank Index: Rolling Returns
Every holding period of both funds, against Nifty Bank TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 428 of them, one for each trading day from 04-02-2025 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.
ICICI Prudential Nifty Bank ETF
Navi Nifty Bank Index Fund (Direct)
Nifty Bank TRI
to
Mar 2025Jul 2022
to
Jul 2025Oct 2022
to
Oct 2025Feb 2023
to
Feb 2026May 2023
to
May 2026Sept 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Nifty Bank ETF | 0.0 | 0.0 | 29.2 | 52.1 | 16.6 | 2.1 | 0.0 | 12.3% | 12.0% | 7.1% | 20.5% | 0% |
| Navi Nifty Bank Index | 0.0 | 0.0 | 30.7 | 51.1 | 17.3 | 0.9 | 0.0 | 12.1% | 11.8% | 7.0% | 20.3% | 0% |
| Nifty Bank TRI | 0.0 | 0.0 | 26.4 | 54.4 | 16.4 | 2.8 | 0.0 | 12.5% | 12.2% | 7.3% | 20.7% | -- |
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 04-02-2022. Past returns do not promise future returns.
ICICI Prudential Nifty Bank ETF vs Navi 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 01-02-2022 to 30-10-2026: 57 instalments, ₹5,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Nifty Bank ETFICICI Prudential Nifty Bank ETF | ₹5,70,000 | ₹6,72,388 | ₹1,02,388 | 6.9% |
| Navi Nifty Bank IndexNavi Nifty Bank Index Fund (Direct) | ₹5,70,000 | ₹6,70,389 | ₹1,00,389 | 6.8% |
ICICI Prudential Nifty Bank ETFICICI Prudential Nifty Bank ETF
Navi Nifty Bank IndexNavi 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.
ICICI Prudential Nifty Bank ETF vs Navi Nifty Bank Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.35% | −5.42% |
| Standard deviation | 17.03% | 17.01% |
| Sharpe ratio | -0.62 | -0.63 |
| Sortino ratio | -0.86 | -0.87 |
| Maximum drawdown | −18.4% (31-03-2026) | −18.4% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.21% | −0.27% |
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 | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.97% | +8.90% |
| Standard deviation | 15.95% | 15.93% |
| Sharpe ratio | 0.18 | 0.18 |
| Sortino ratio | 0.26 | 0.25 |
| Maximum drawdown | −18.4% (31-03-2026) | −18.4% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.19% | −0.26% |
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 | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.63% | +8.09% |
| Standard deviation | 23.21% | 16.50% |
| Sharpe ratio | 0.15 | 0.13 |
| Sortino ratio | 0.21 | 0.18 |
| Maximum drawdown | −48.1% (23-03-2020) | −18.4% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.25% | −0.34% |
From daily NAVs, 11-07-2019 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.
ICICI Prudential Nifty Bank ETF
Navi 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 |
|---|---|---|---|---|---|---|
| ICICI Prudential Nifty Bank ETF | −18.4% | 18-02-2026 | 31-03-2026 | Not yet | -- | −10.7% |
| Navi Nifty Bank Index Fund (Direct) | −18.4% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.7% |
| Nifty Bank TRI | −18.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.6% |
From daily values since 04-02-2022, 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.
ICICI Prudential Nifty Bank ETF
Navi Nifty Bank Index Fund (Direct)
Nifty Bank 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.
ICICI Prudential Nifty Bank ETF
Navi Nifty Bank Index Fund (Direct)
Nifty Bank TRI
Against Nifty Bank TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Nifty Bank ETF | 100% | 100% | 0.03% |
| Navi Nifty Bank Index Fund (Direct) | 99% | 101% | 0.08% |
From month-end values since 04-02-2022. 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.
ICICI Prudential Nifty Bank ETF vs Navi Nifty Bank Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Nifty Bank ETF, September 2026; Navi Nifty Bank Index Fund, September 2026
Holdings in common
- Overlap
- 100.0%
- Held by both
- 14
- Only in ICICI Prudential Nifty Bank ETF
- 0
- Only in Navi Nifty Bank Index
- 0
| Security | % of ICICI Prudential Nifty Bank ETF | % of Navi Nifty Bank Index |
|---|---|---|
| HDFC Bank Ltd. | 18.61% | 18.63% |
| ICICI Bank Ltd. | 14.18% | 14.19% |
| Kotak Mahindra Bank Ltd. | 10.20% | 10.21% |
| Axis Bank Ltd. | 10.06% | 10.06% |
| State Bank Of India | 9.93% | 9.93% |
| The Federal Bank Ltd. | 6.56% | 6.57% |
| IndusInd Bank Ltd. | 4.97% | 4.97% |
| AU Small Finance Bank Ltd. | 4.85% | 4.85% |
| IDFC First Bank Ltd. | 4.54% | 4.54% |
| Bank Of Baroda | 3.59% | 3.59% |
| Canara Bank | 3.37% | 3.37% |
| Punjab National Bank | 3.27% | 3.27% |
| Yes Bank Ltd. | 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 ICICI Prudential Nifty Bank ETF
Every holding of this fund is also held by the other.
Largest holdings only in Navi 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 | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index |
|---|---|---|
| Equity | 100.0% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | -0.1% |
Market cap of stocks
| Market cap | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index |
|---|---|---|
| Large Cap | 76.1% | 76.1% |
| 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 | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index |
|---|---|---|
| BANKS | 0.0% | 100.0% |
| Banks | 100.0% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Nifty Bank ETF vs Navi Nifty Bank Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Nifty Bank ETF | Navi Nifty Bank Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.23% |
| Base expense ratio (Direct) | 0.00% | 0.15% |
| Total expense ratio (Regular) | Not available | 1.11% |
| Base expense ratio (Regular) | 0.13% | 0.90% |
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.
ICICI Prudential Nifty Bank ETF vs Navi Nifty Bank Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Nifty Bank ETF and Navi Nifty Bank Index Fund?
ICICI Prudential Nifty Bank ETF is an ETF fund, Navi Nifty Bank Index Fund is an Index fund, run by ICICI Prudential Mutual Fund and Navi Mutual Fund. Their portfolios overlap 100.0%. ICICI Prudential Nifty Bank ETF charges 0.17% a year and Navi Nifty Bank Index Fund 0.23%.
Which has given higher returns, ICICI Prudential Nifty Bank ETF or Navi Nifty Bank Index Fund?
Over 1 year: ICICI Prudential Nifty Bank ETF −5.35%, Navi Nifty Bank Index Fund −5.42%. Over 3 years: ICICI Prudential Nifty Bank ETF +8.97% a year, Navi Nifty Bank Index Fund +8.90% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Nifty Bank ETF or Navi Nifty Bank Index Fund?
ICICI Prudential Nifty Bank ETF charges less: 0.17% a year against 0.23%. These are the total expense ratios reported to AMFI.
How much do ICICI Prudential Nifty Bank ETF and Navi 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 better for SIP, ICICI Prudential Nifty Bank ETF or Navi Nifty Bank Index Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,90,849 in ICICI Prudential Nifty Bank ETF (XIRR 3.5% a year) and ₹3,90,445 in Navi Nifty Bank Index Fund (XIRR 3.4% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Nifty Bank ETF and Navi 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 ICICI Prudential Nifty Bank ETF and Navi Nifty Bank Index Fund?
ICICI Prudential Nifty Bank ETF: Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja. Navi Nifty Bank Index Fund: Ashutosh Shirwaikar.
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.