Kotak BSE PSU Index Fund vs SBI PSU Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak BSE PSU Index Fund is an Index fund and SBI PSU Fund is a Thematic fund. In the year to 30-10-2026, Kotak BSE PSU Index Fund (Direct) returned −5.8% and SBI PSU Fund (Direct) returned −4.9%. Kotak BSE PSU Index Fund charges 0.47% a year and SBI PSU Fund 0.97% (Direct plans). Their portfolios overlap 60.9%: they hold 20 of the same securities.
Kotak BSE PSU Index Fund
Index
- 1 year return
- −5.8%
- Expense ratio
- 0.47%
- NAV
- ₹8.70
Which is better, Kotak BSE PSU Index or SBI PSU? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI PSU returned more over 1 year: −4.9% against −5.8%.
- Kotak BSE PSU Index costs less: 0.47% a year against 0.97% (Direct plans).
- SBI PSU fell less in its worst fall since 05-08-2024: −22.3% against −26.8%.
- SBI PSU is the larger fund: ₹6,354 Cr against ₹76 Cr.
- Their portfolios overlap 60.9%: 20 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 | Kotak BSE PSU Index Fund | SBI PSU Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | SBI Mutual Fund |
| Category | Index | Thematic |
| AUM | ₹76 Cr (30-09-2026) | ₹6,354 Cr (30-09-2026) |
| NAV | ₹8.70 (Direct) | ₹35.37 (Direct) |
| Expense ratio (Direct) | 0.47% | 0.97% |
| Expense ratio (Regular) | 1.12% | 1.94% |
| Riskometer | Very High | Not available |
| Benchmark | BSE PSU TRI | Not available |
| Launch date | 31-07-2024 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar | Not available |
| Exit load | Nil | Not available |
Kotak BSE PSU Index vs SBI PSU: 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 |
|---|---|---|---|---|---|---|---|
| Kotak BSE PSU Index Fund (Direct) | −2.59% | −7.11% | −12.45% | −5.83% | -- | -- | -- |
| SBI PSU Fund (Direct) | −2.71% | −6.65% | −11.22% | −4.87% | +19.35% | +20.84% | +12.69% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
Kotak BSE PSU Index vs SBI PSU: Year-wise Returns
| Year | Kotak BSE PSU IndexKotak BSE PSU Index | SBI PSUSBI PSU | BSE PSU TRI |
|---|---|---|---|
| 2026to date | −6.53% | −5.68% | −6.20% |
| 2025 | +11.59% | +12.43% | +12.09% |
| 2024 | -- | +24.87% | +24.34% |
| 2023 | -- | +55.74% | +61.48% |
| 2022 | -- | +30.41% | +28.30% |
| 2021 | -- | +33.77% | +47.95% |
Kotak BSE PSU Index vs SBI PSU: Rolling Returns
Every holding period of both funds, against BSE PSU TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 303 of them, one for each trading day from 05-08-2025 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.
Kotak BSE PSU Index Fund (Direct)
SBI PSU Fund (Direct)
BSE PSU TRI
to
Sept 2025Nov 2024
to
Nov 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak BSE PSU Index | 24.4 | 10.2 | 20.8 | 20.5 | 7.3 | 7.3 | 9.6 | 8.9% | 8.4% | −14.4% | 42.0% | 0% |
| SBI PSU | 17.9 | 11.4 | 22.1 | 24.7 | 8.4 | 7.1 | 8.4 | 9.7% | 9.3% | −10.7% | 41.4% | 62% |
| BSE PSU TRI | 23.4 | 10.2 | 20.1 | 21.5 | 5.9 | 8.9 | 9.9 | 9.4% | 8.9% | −14.0% | 42.6% | -- |
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 BSE PSU 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 05-08-2024. Past returns do not promise future returns.
Kotak BSE PSU Index vs SBI PSU: 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 05-08-2024 to 30-10-2026: 27 instalments, ₹2,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak BSE PSU IndexKotak BSE PSU Index Fund (Direct) | ₹2,70,000 | ₹2,63,507 | −₹6,493 | −2.1% |
| SBI PSUSBI PSU Fund (Direct) | ₹2,70,000 | ₹2,66,007 | −₹3,993 | −1.3% |
Kotak BSE PSU IndexKotak BSE PSU Index Fund (Direct)
SBI PSUSBI PSU 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.
Kotak BSE PSU Index vs SBI PSU: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak BSE PSU Index Fund (Direct) | SBI PSU Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.83% | −4.87% |
| Standard deviation | 16.20% | 15.11% |
| Sharpe ratio | -0.68 | -0.67 |
| Sortino ratio | -0.89 | -0.88 |
| Maximum drawdown | −16.4% (23-10-2026) | −16.2% (23-10-2026) |
| Beta | 1.00 | 0.91 |
| Alpha | −0.44% | −0.42% |
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 | Kotak BSE PSU Index Fund (Direct) | SBI PSU Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.44% | +10.91% |
| Standard deviation | 18.50% | 19.60% |
| Sharpe ratio | -0.50 | 0.25 |
| Sortino ratio | -0.66 | 0.33 |
| Maximum drawdown | −26.8% (28-02-2025) | −47.1% (24-03-2020) |
| Beta | 1.00 | 0.89 |
| Alpha | −0.47% | +1.06% |
From daily NAVs, 05-08-2024 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.
Kotak BSE PSU Index Fund (Direct)
SBI PSU Fund (Direct)
BSE PSU TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak BSE PSU Index Fund (Direct) | −26.8% | 30-08-2024 | 28-02-2025 | 28-01-2026 | 11 months | −15.0% |
| SBI PSU Fund (Direct) | −22.3% | 30-08-2024 | 28-02-2025 | 03-11-2025 | 8 months | −14.4% |
| BSE PSU TRI | −26.7% | 30-08-2024 | 28-02-2025 | 28-01-2026 | 11 months | −14.8% |
From daily values since 05-08-2024, 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.
Kotak BSE PSU Index Fund (Direct)
SBI PSU Fund (Direct)
BSE PSU TRI
Against BSE PSU TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak BSE PSU Index Fund (Direct) | 99% | 101% | 0.06% |
| SBI PSU Fund (Direct) | 92% | 88% | 3.74% |
From month-end values since 05-08-2024. 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.
Kotak BSE PSU Index vs SBI PSU: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak BSE PSU Index Fund, September 2026; SBI PSU Fund, September 2026
Holdings in common
- Overlap
- 60.9%
- Held by both
- 20
- Only in Kotak BSE PSU Index
- 41
- Only in SBI PSU
- 6
| Security | % of Kotak BSE PSU Index | % of SBI PSU |
|---|---|---|
| STATE BANK OF INDIA. | 19.12% | 15.66% |
| NTPC LTD | 7.33% | 8.61% |
| Bharat Electronics Ltd. | 6.69% | 7.87% |
| Power Grid Corporation of India Ltd. | 5.69% | 7.41% |
| Oil And Natural Gas Corporation Ltd. | 4.20% | 3.66% |
| Bharat Heavy Electricals Ltd. | 2.91% | 4.25% |
| BHARAT PETROLEUM CORPORATION LTD. | 2.83% | 4.63% |
| GAIL (India) Ltd. | 2.20% | 6.87% |
| Life Insurance Corporation Of India | 2.63% | 2.13% |
| BANK OF BARODA | 2.06% | 5.21% |
| Hindustan Aeronautics Ltd. | 4.18% | 2.02% |
| National Aluminium Company Ltd. | 1.48% | 2.44% |
| INDIAN BANK | 1.35% | 3.59% |
| NHPC Ltd. | 1.30% | 1.49% |
| NMDC Ltd. | 1.26% | 2.40% |
| Container Corporation of India Ltd. | 0.74% | 3.66% |
| General Insurance Corporation of India | 0.64% | 2.16% |
| GUJARAT ENERGY LIMITED | 0.48% | 1.31% |
| Engineers India Ltd | 0.41% | 2.87% |
| GSPL TRANSMISSION LIMITED | 0.10% | 0.27% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 60.9% means 60.9% 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 Kotak BSE PSU Index Fund
| Security | % of fund |
|---|---|
| Coal India Limited | 4.89% |
| INDIAN OIL CORPORATION LTD. | 2.36% |
| Power Finance Corporation Ltd. | 2.27% |
| CANARA BANK | 1.92% |
| PUNJAB NATIONAL BANK | 1.87% |
Largest holdings only in SBI PSU Fund
| Security | % of fund |
|---|---|
| PNB Housing Finance Ltd. | 3.13% |
| SBI Cards & Payment Services Ltd. | 2.31% |
| Petronet LNG Ltd. | 1.84% |
| Indraprastha Gas Ltd. | 1.63% |
| Canara Robeco Asset Management Company Ltd. | 1.26% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak BSE PSU Index | SBI PSU |
|---|---|---|
| Equity | 100.0% | 98.7% |
| Debt | 0.0% | 0.1% |
| Cash and others | 0.0% | 1.2% |
Market cap of stocks
| Market cap | Kotak BSE PSU Index | SBI PSU |
|---|---|---|
| Large Cap | 76.9% | 71.9% |
| Mid Cap | 18.5% | 16.3% |
| Small Cap | 4.5% | 10.2% |
| Not on AMFI's list | 0.1% | 0.3% |
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 | Kotak BSE PSU Index | SBI PSU |
|---|---|---|
| Banks | 30.3% | 24.5% |
| Power | 15.4% | 17.5% |
| Gas | 2.8% | 11.9% |
| Aerospace and Defense | 11.7% | 0.0% |
| Aerospace & Defense | 0.0% | 9.9% |
| Petroleum Products | 7.3% | 4.6% |
| Finance | 5.9% | 5.4% |
| Oil | 5.3% | 3.7% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak BSE PSU Index vs SBI PSU: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak BSE PSU Index Fund | SBI PSU Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.47% | 0.97% |
| Base expense ratio (Direct) | 0.33% | 0.73% |
| Total expense ratio (Regular) | 1.12% | 1.94% |
| Base expense ratio (Regular) | 0.88% | 1.56% |
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
Kotak BSE PSU Index Fund vs SBI PSU Fund: Frequently Asked Questions
What is the difference between Kotak BSE PSU Index Fund and SBI PSU Fund?
Kotak BSE PSU Index Fund is an Index fund, SBI PSU Fund is a Thematic fund, run by Kotak Mahindra Mutual Fund and SBI Mutual Fund. Their portfolios overlap 60.9%. Kotak BSE PSU Index Fund charges 0.47% a year and SBI PSU Fund 0.97%.
Which has given higher returns, Kotak BSE PSU Index Fund or SBI PSU Fund?
Over 1 year: Kotak BSE PSU Index Fund −5.83%, SBI PSU Fund −4.87%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak BSE PSU Index Fund or SBI PSU Fund?
Kotak BSE PSU Index Fund charges less: 0.47% a year against 0.97%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak BSE PSU Index Fund and SBI PSU Fund overlap?
60.9%. They hold 20 of the same securities, the largest shared ones being SBIN, NTPC, BEL. From each fund's latest monthly portfolio.
Can I invest in both Kotak BSE PSU Index Fund and SBI PSU Fund?
Yes. 60.9% 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.