Invesco India Gilt Fund vs SBI Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Gilt Fund and SBI Gilt Fund are both Gilt funds. In the 3 years to 30-10-2026, Invesco India Gilt Fund (Direct) returned 6.1% a year and SBI Gilt Fund (Direct) returned 6.5% a year. Invesco India Gilt Fund charges 0.48% a year and SBI Gilt Fund 0.49% (Direct plans). Their portfolios overlap 51.8%: they hold 2 of the same securities.
Invesco India Gilt Fund
Gilt
- 3 year return
- 6.1%
- Expense ratio
- 0.48%
- NAV
- ₹3,173.25
Which is better, Invesco India Gilt or SBI Gilt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Gilt returned more over 5 years: 6.2% a year against 5.4%.
- SBI Gilt returned more over 3 years: 6.5% a year against 6.1%.
- Invesco India Gilt costs less: 0.48% a year against 0.49% (Direct plans).
- SBI Gilt swung less over 3 years: a standard deviation of 2.6% a year against 3.6%.
- Invesco India Gilt fell less in its worst fall since 03-01-2013: −9.2% against −9.5%.
- SBI Gilt is the larger fund: ₹8,067 Cr against ₹105 Cr.
- Their portfolios overlap 51.8%: 2 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 Gilt Fund | SBI Gilt Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | SBI Mutual Fund |
| Category | Gilt | Gilt |
| AUM | ₹105 Cr (30-09-2026) | ₹8,067 Cr (30-09-2026) |
| NAV | ₹3,173.25 (Direct) | ₹72.58 (Direct) |
| Expense ratio (Direct) | 0.48% | 0.49% |
| Expense ratio (Regular) | 1.25% | 0.99% |
| Riskometer | Moderate | Not available |
| Benchmark | Nifty All Duration G-Sec Index | Not available |
| Launch date | 09-02-2008 | Not available |
| Minimum investment | Not available | Not available |
| Lock in | None | Not available |
| Fund managers | Krishna Cheemalapati, Vikas Garg | Not available |
| Exit load | Nil | Not available |
Invesco India Gilt vs SBI Gilt: 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 Gilt Fund (Direct) | −1.04% | −2.34% | +1.14% | +1.24% | +6.10% | +5.44% | +5.96% |
| SBI Gilt Fund (Direct) | −0.21% | −0.39% | +2.08% | +3.28% | +6.50% | +6.20% | +7.32% |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 28 Gilt funds, same plan type.
Invesco India Gilt vs SBI Gilt: Year-wise Returns
| Year | Invesco IndiaInvesco India Gilt | SBISBI Gilt |
|---|---|---|
| 2026to date | +0.26% | +2.97% |
| 2025 | +5.01% | +5.05% |
| 2024 | +10.79% | +9.45% |
| 2023 | +7.40% | +8.13% |
| 2022 | +3.14% | +4.73% |
| 2021 | +1.45% | +3.48% |
Invesco India Gilt vs SBI Gilt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,618 of them, one for each trading day from 04-01-2016 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 Gilt Fund (Direct)
SBI Gilt Fund (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 Gilt | 0.0 | 15.1 | 72.8 | 12.1 | 0.0 | 0.0 | 0.0 | 7.5% | 7.4% | 3.3% | 14.6% |
| SBI Gilt | 0.0 | 0.1 | 73.1 | 25.8 | 1.0 | 0.0 | 0.0 | 8.9% | 8.6% | 4.9% | 16.1% |
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. Every fund is measured over the days all of them have, from 03-01-2013. Past returns do not promise future returns.
Invesco India Gilt vs SBI Gilt: 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 GiltInvesco India Gilt Fund (Direct) | ₹16,60,000 | ₹26,14,062 | ₹9,54,062 | 6.3% |
| SBI GiltSBI Gilt Fund (Direct) | ₹16,60,000 | ₹28,93,896 | ₹12,33,896 | 7.7% |
Invesco India GiltInvesco India Gilt Fund (Direct)
SBI GiltSBI Gilt 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.
Invesco India Gilt vs SBI Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.24% | +3.28% |
| Standard deviation | 4.38% | 2.38% |
| Sharpe ratio | -0.91 | -0.82 |
| Sortino ratio | -1.24 | -1.13 |
| Maximum drawdown | −3.9% (23-10-2026) | −1.9% (02-04-2026) |
| 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 Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.10% | +6.50% |
| Standard deviation | 3.61% | 2.63% |
| Sharpe ratio | 0.02 | 0.18 |
| Sortino ratio | 0.03 | 0.25 |
| Maximum drawdown | −4.2% (02-04-2026) | −3.2% (26-08-2025) |
| 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 Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.44% | +6.20% |
| Standard deviation | 3.02% | 2.37% |
| Sharpe ratio | -0.12 | 0.17 |
| Sortino ratio | -0.17 | 0.24 |
| Maximum drawdown | −4.2% (02-04-2026) | −3.2% (26-08-2025) |
| 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 Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.00% | +8.60% |
| Standard deviation | 4.09% | 3.93% |
| Sharpe ratio | 0.23 | 0.65 |
| Sortino ratio | 0.33 | 0.95 |
| Maximum drawdown | −9.2% (19-08-2013) | −9.5% (19-08-2013) |
| 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 Gilt Fund (Direct)
SBI Gilt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Gilt Fund (Direct) | −9.2% | 27-05-2013 | 19-08-2013 | 21-05-2014 | 9 months | −3.5% |
| SBI Gilt Fund (Direct) | −9.5% | 27-05-2013 | 19-08-2013 | 05-05-2014 | 9 months | −0.8% |
From daily values since 03-01-2013, 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 Gilt Fund (Direct)
SBI Gilt Fund (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 Gilt Fund (Direct)
SBI Gilt Fund (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 Gilt Fund (Direct)
SBI Gilt Fund (Direct)
Invesco India Gilt vs SBI Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Gilt Fund, September 2026; SBI Gilt Fund, September 2026
Holdings in common
- Overlap
- 51.8%
- Held by both
- 2
- Only in Invesco India Gilt
- 2
- Only in SBI Gilt
- 10
| Security | % of Invesco India Gilt | % of SBI Gilt |
|---|---|---|
| 6.94% Government of India 2036 | 32.78% | 44.20% |
| 7.71% Government of India 2066 | 19.04% | 21.50% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.8% means 51.8% 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 Invesco India Gilt Fund
| Security | % of fund |
|---|---|
| 7.24% Government of India 2055 | 27.11% |
| 7.63% Government of India 2056 | 9.49% |
Largest holdings only in SBI Gilt Fund
| Security | % of fund |
|---|---|
| 7.28% State Government of Andhra Pradesh 2032 | 6.61% |
| 91 DAY T-BILL 19.11.26 | 6.15% |
| 7.43% CGL 2076 | 3.22% |
| 91 DAY T-BILL 15.10.26 | 3.09% |
| 91 DAY T-BILL 01.10.26 | 1.24% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Gilt | SBI Gilt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 88.4% | 87.5% |
| Cash and others | 11.6% | 12.5% |
Invesco India Gilt vs SBI Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Gilt Fund | SBI Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.48% | 0.49% |
| Base expense ratio (Direct) | 0.39% | 0.40% |
| Total expense ratio (Regular) | 1.25% | 0.99% |
| Base expense ratio (Regular) | 1.06% | 0.82% |
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 Gilt with
Invesco India Gilt Fund vs SBI Gilt Fund: Frequently Asked Questions
What is the difference between Invesco India Gilt Fund and SBI Gilt Fund?
Both are Gilt funds, run by Invesco Mutual Fund and SBI Mutual Fund. Their portfolios overlap 51.8%. Invesco India Gilt Fund charges 0.48% a year and SBI Gilt Fund 0.49%.
Which has given higher returns, Invesco India Gilt Fund or SBI Gilt Fund?
Over 1 year: Invesco India Gilt Fund +1.24%, SBI Gilt Fund +3.28%. Over 3 years: Invesco India Gilt Fund +6.10% a year, SBI Gilt Fund +6.50% a year. Over 5 years: Invesco India Gilt Fund +5.44% a year, SBI Gilt Fund +6.20% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Gilt Fund or SBI Gilt Fund?
Invesco India Gilt Fund charges less: 0.48% a year against 0.49%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Gilt Fund and SBI Gilt Fund overlap?
51.8%. They hold 2 of the same securities, the largest shared ones being 6.94% Government of India 2036, 7.71% Government of India 2066. From each fund's latest monthly portfolio.
Which is better for SIP, Invesco India Gilt Fund or SBI Gilt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,93,276 in Invesco India Gilt Fund (XIRR 5.0% a year) and ₹7,09,976 in SBI Gilt Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Gilt Fund and SBI Gilt Fund?
Yes. 51.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
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.