Invesco India Banking and PSU Debt Fund vs Tata Retirement Savings Fund Conservative
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Banking and PSU Debt Fund is a Banking & PSU fund and Tata Retirement Savings Fund Conservative is a Solution fund. In the 3 years to 30-10-2026, Invesco India Banking and PSU Debt Fund (Direct) returned 6.9% a year and Tata Retirement Savings Fund Conservative (Direct) returned 7.2% a year. Invesco India Banking and PSU Debt Fund charges 0.26% a year and Tata Retirement Savings Fund Conservative 1.04% (Direct plans). Their portfolios overlap 12.2%: they hold 1 of the same security.
Invesco India Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 6.9%
- Expense ratio
- 0.26%
- NAV
- ₹2,568.46
Tata Retirement Savings Fund Conservative
Solution
- 3 year return
- 7.2%
- Expense ratio
- 1.04%
- NAV
- ₹37.87
Which is better, Invesco India Banking and PSU Debt or Tata Retirement Savings Fund Conservative? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Tata Retirement Savings Fund Conservative returned more over 5 years: 6.2% a year against 5.6%.
- Tata Retirement Savings Fund Conservative returned more over 3 years: 7.2% a year against 6.9%.
- Invesco India Banking and PSU Debt costs less: 0.26% a year against 1.04% (Direct plans).
- Invesco India Banking and PSU Debt swung less over 3 years: a standard deviation of 1.2% a year against 4.7%.
- Invesco India Banking and PSU Debt fell less in its worst fall since 08-01-2013: −4.9% against −11.0%.
- Tata Retirement Savings Fund Conservative is the larger fund: ₹165 Cr against ₹80 Cr.
- Their portfolios overlap 12.2%: 1 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 | Invesco India Banking and PSU Debt Fund | Tata Retirement Savings Fund Conservative |
|---|---|---|
| Fund house | Invesco Mutual Fund | Tata Mutual Fund |
| Category | Banking & PSU | Solution |
| AUM | ₹80 Cr (30-09-2026) | ₹165 Cr (30-09-2026) |
| NAV | ₹2,568.46 (Direct) | ₹37.87 (Direct) |
| Expense ratio (Direct) | 0.26% | 1.04% |
| Expense ratio (Regular) | 0.63% | 2.16% |
| Riskometer | Moderate | Moderately High |
| Benchmark | NIFTY Banking & PSU Debt Index A-II | CRISIL Short Term Debt Hybrid 75+25 Index |
| Launch date | 29-12-2012 | 01-11-2011 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | None | 5 years, or until retirement if earlier |
| Fund managers | Krishna Cheemalapati, Vikas Garg | Sonam Udasi, Murthy Nagarajan, Amit Somani |
| Exit load | Nil | A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age - Nil. B) In case of Auto switch-out of units on occurrence of “Auto-switch trigger event” - Nil. C) 1% -If redeemed before 61 months from the date of allotment. |
Invesco India Banking and PSU Debt vs Tata Retirement Savings Fund Conservative: 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Banking and PSU Debt Fund (Direct) | −0.44% | −0.27% | +2.28% | +3.72% | +6.88% | +5.58% | +6.51% |
| Tata Retirement Savings Fund Conservative (Direct) | −1.16% | −2.71% | +0.51% | +0.92% | +7.22% | +6.23% | +7.90% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
Category average: the average of the 19 Banking & PSU funds, same plan type.
Invesco India Banking and PSU Debt vs Tata Retirement Savings Fund Conservative: Year-wise Returns
| Year | Invesco India Banking and PSU DebtInvesco India Banking and PSU Debt | Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative |
|---|---|---|
| 2026to date | +2.95% | +0.55% |
| 2025 | +7.63% | +4.84% |
| 2024 | +8.49% | +11.23% |
| 2023 | +6.91% | +13.37% |
| 2022 | +1.13% | +1.30% |
| 2021 | +3.86% | +8.87% |
Invesco India Banking and PSU Debt vs Tata Retirement Savings Fund Conservative: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,614 of them, one for each trading day from 08-01-2016 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.
Invesco India Banking and PSU Debt Fund (Direct)
Tata Retirement Savings Fund Conservative (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Banking and PSU Debt | 0.0 | 14.2 | 85.8 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.5% | 3.5% | 9.3% |
| Tata Retirement Savings Fund Conservative | 0.0 | 0.1 | 63.7 | 33.1 | 3.1 | 0.0 | 0.0 | 9.7% | 9.2% | 4.2% | 15.8% |
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. Every fund is measured over the days all of them have, from 08-01-2013. Past returns do not promise future returns.
Invesco India Banking and PSU Debt vs Tata Retirement Savings Fund Conservative: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India Banking and PSU DebtInvesco India Banking and PSU Debt Fund (Direct) | ₹16,60,000 | ₹26,62,423 | ₹10,02,423 | 6.5% |
| Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative (Direct) | ₹16,60,000 | ₹30,30,346 | ₹13,70,346 | 8.3% |
Invesco India Banking and PSU DebtInvesco India Banking and PSU Debt Fund (Direct)
Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative (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.
Invesco India Banking and PSU Debt vs Tata Retirement Savings Fund Conservative: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Banking and PSU Debt Fund (Direct) | Tata Retirement Savings Fund Conservative (Direct) |
|---|---|---|
| Return (CAGR) | +3.72% | +0.92% |
| Standard deviation | 1.42% | 5.09% |
| Sharpe ratio | -1.07 | -0.85 |
| Sortino ratio | -1.47 | -1.12 |
| Maximum drawdown | −0.9% (02-04-2026) | −4.7% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Invesco India Banking and PSU Debt Fund (Direct) | Tata Retirement Savings Fund Conservative (Direct) |
|---|---|---|
| Return (CAGR) | +6.88% | +7.22% |
| Standard deviation | 1.20% | 4.74% |
| Sharpe ratio | 0.71 | 0.25 |
| Sortino ratio | 1.04 | 0.34 |
| Maximum drawdown | −0.9% (02-04-2026) | −5.1% (03-03-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Invesco India Banking and PSU Debt Fund (Direct) | Tata Retirement Savings Fund Conservative (Direct) |
|---|---|---|
| Return (CAGR) | +5.58% | +6.23% |
| Standard deviation | 1.54% | 4.54% |
| Sharpe ratio | -0.15 | 0.09 |
| Sortino ratio | -0.18 | 0.13 |
| Maximum drawdown | −2.9% (06-05-2022) | −6.0% (17-06-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Invesco India Banking and PSU Debt Fund (Direct) | Tata Retirement Savings Fund Conservative (Direct) |
|---|---|---|
| Return (CAGR) | +7.03% | +9.24% |
| Standard deviation | 2.11% | 4.79% |
| Sharpe ratio | 0.47 | 0.67 |
| Sortino ratio | 0.67 | 0.92 |
| Maximum drawdown | −4.9% (23-03-2020) | −11.0% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
Invesco India Banking and PSU Debt Fund (Direct)
Tata Retirement Savings Fund Conservative (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Banking and PSU Debt Fund (Direct) | −4.9% | 09-03-2020 | 23-03-2020 | 23-04-2020 | 31 days | −0.8% |
| Tata Retirement Savings Fund Conservative (Direct) | −11.0% | 20-02-2020 | 23-03-2020 | 23-06-2020 | 3 months | −3.8% |
From daily values since 08-01-2013, 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.
Invesco India Banking and PSU Debt Fund (Direct)
Tata Retirement Savings Fund Conservative (Direct)
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.
Invesco India Banking and PSU Debt Fund (Direct)
Tata Retirement Savings Fund Conservative (Direct)
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.
Invesco India Banking and PSU Debt Fund (Direct)
Tata Retirement Savings Fund Conservative (Direct)
Invesco India Banking and PSU Debt vs Tata Retirement Savings Fund Conservative: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Banking and PSU Debt Fund, September 2026; Tata Retirement Savings Fund Conservative, September 2026
Holdings in common
- Overlap
- 12.2%
- Held by both
- 1
- Only in Invesco India Banking and PSU Debt
- 14
- Only in Tata Retirement Savings Fund Conservative
- 55
| Security | % of Invesco India Banking and PSU Debt | % of Tata Retirement Savings Fund Conservative |
|---|---|---|
| 6.79% Government of India 2034 | 12.17% | 20.67% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.2% means 12.2% 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 Invesco India Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| 7.37% Indian Railway Finance Corporation Limited 2029 | 9.88% |
| 7.85% Power Finance Corporation Limited 2028 | 6.25% |
| 7.64% Hindustan Petroleum Corporation Limited 2027 | 6.24% |
| 7.49% National Highways Authority Of India 2029 | 6.23% |
| 7.55% REC Limited 2028 | 6.21% |
Largest holdings only in Tata Retirement Savings Fund Conservative
| Security | % of fund |
|---|---|
| GOI - 7.17% (17/04/2030) | 9.15% |
| GOI - 7.38% (20/06/2027) | 9.14% |
| GOI - 6.36% (16/02/2031) | 8.89% |
| GOI - 7.36% (12/09/2052) | 5.85% |
| GOI - 6.90% (15/04/2065) | 5.42% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Banking and PSU Debt | Tata Retirement Savings Fund Conservative |
|---|---|---|
| Equity | 0.0% | 27.1% |
| Debt | 90.9% | 62.0% |
| Cash and others | 9.1% | 10.9% |
Market cap of stocks
| Market cap | Invesco India Banking and PSU Debt | Tata Retirement Savings Fund Conservative |
|---|---|---|
| Large Cap | -- | 14.8% |
| Mid Cap | -- | 5.9% |
| Small Cap | -- | 6.0% |
| Not on AMFI's list | -- | 0.4% |
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 | Invesco India Banking and PSU Debt | Tata Retirement Savings Fund Conservative |
|---|---|---|
| Capital Markets | 0.0% | 3.4% |
| Banks | 0.0% | 2.7% |
| Chemicals & Petrochemicals | 0.0% | 1.5% |
| Consumer Durables | 0.0% | 1.4% |
| Industrial Products | 0.0% | 1.4% |
| Automobiles | 0.0% | 1.3% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Banking and PSU Debt vs Tata Retirement Savings Fund Conservative: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Banking and PSU Debt Fund | Tata Retirement Savings Fund Conservative |
|---|---|---|
| Total expense ratio (Direct) | 0.26% | 1.04% |
| Base expense ratio (Direct) | 0.22% | 0.85% |
| Total expense ratio (Regular) | 0.63% | 2.16% |
| Base expense ratio (Regular) | 0.54% | 1.83% |
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.
More comparisons
Each fund against the others of its category
Compare Invesco India Banking and PSU Debt with
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Invesco India Banking and PSU Debt Fund vs Tata Retirement Savings Fund Conservative: Frequently Asked Questions
What is the difference between Invesco India Banking and PSU Debt Fund and Tata Retirement Savings Fund Conservative?
Invesco India Banking and PSU Debt Fund is a Banking & PSU fund, Tata Retirement Savings Fund Conservative is a Solution fund, run by Invesco Mutual Fund and Tata Mutual Fund. Their portfolios overlap 12.2%. Invesco India Banking and PSU Debt Fund charges 0.26% a year and Tata Retirement Savings Fund Conservative 1.04%.
Which has given higher returns, Invesco India Banking and PSU Debt Fund or Tata Retirement Savings Fund Conservative?
Over 1 year: Invesco India Banking and PSU Debt Fund +3.72%, Tata Retirement Savings Fund Conservative +0.92%. Over 3 years: Invesco India Banking and PSU Debt Fund +6.88% a year, Tata Retirement Savings Fund Conservative +7.22% a year. Over 5 years: Invesco India Banking and PSU Debt Fund +5.58% a year, Tata Retirement Savings Fund Conservative +6.23% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Banking and PSU Debt Fund or Tata Retirement Savings Fund Conservative?
Invesco India Banking and PSU Debt Fund charges less: 0.26% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Banking and PSU Debt Fund and Tata Retirement Savings Fund Conservative overlap?
12.2%. They hold 1 of the same securities, the largest shared ones being 6.79% Government of India 2034. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Banking and PSU Debt Fund or Tata Retirement Savings Fund Conservative?
On SEBI's riskometer, Invesco India Banking and PSU Debt Fund is rated Moderate and Tata Retirement Savings Fund Conservative Moderately High. Over 3 years, the standard deviation of daily returns was 1.20% and 4.74% a year.
Which is better for SIP, Invesco India Banking and PSU Debt Fund or Tata Retirement Savings Fund Conservative?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,13,436 in Invesco India Banking and PSU Debt Fund (XIRR 6.1% a year) and ₹7,13,602 in Tata Retirement Savings Fund Conservative (XIRR 6.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Banking and PSU Debt Fund and Tata Retirement Savings Fund Conservative?
Yes. 12.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Banking and PSU Debt Fund and Tata Retirement Savings Fund Conservative?
Invesco India Banking and PSU Debt Fund: Krishna Cheemalapati, Vikas Garg. Tata Retirement Savings Fund Conservative: Sonam Udasi, Murthy Nagarajan, Amit Somani.
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.