LIC MF BSE Sensex Index Fund vs Nippon India ETF BSE Sensex
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF BSE Sensex Index Fund is an Index fund and Nippon India ETF BSE Sensex is a mutual fund. In the 3 years to 30-10-2026, LIC MF BSE Sensex Index Fund (Direct) returned 5.8% a year and Nippon India ETF BSE Sensex (Direct) returned 6.3% a year. LIC MF BSE Sensex Index Fund charges 0.66% a year and Nippon India ETF BSE Sensex 0.04% (Direct plans). Their portfolios overlap 99.3%: they hold 30 of the same securities.
LIC MF BSE Sensex Index Fund
Index
- 3 year return
- 5.8%
- Expense ratio
- 0.66%
- NAV
- ₹150.23
Nippon India ETF BSE Sensex
- 3 year return
- 6.3%
- Expense ratio
- 0.04%
- NAV
- ₹857.24
Which is better, LIC MF BSE Sensex Index or Nippon India ETF BSE Sensex? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India ETF BSE Sensex returned more over 5 years: 5.9% a year against 5.4%.
- Nippon India ETF BSE Sensex returned more over 3 years: 6.3% a year against 5.8%.
- Nippon India ETF BSE Sensex costs less: 0.04% a year against 0.66% (Direct plans).
- LIC MF BSE Sensex Index swung less over 3 years: a standard deviation of 13.2% a year against 13.3%.
- LIC MF BSE Sensex Index fell less in its worst fall since 25-09-2014: −37.5% against −37.8%.
- Nippon India ETF BSE Sensex is the larger fund: ₹27,771 Cr against ₹87 Cr.
- Their portfolios overlap 99.3%: 30 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 | LIC MF BSE Sensex Index Fund | Nippon India ETF BSE Sensex |
|---|---|---|
| Fund house | LIC Mutual Fund | Nippon India Mutual Fund |
| Category | Index | Not available |
| AUM | ₹87 Cr (30-09-2026) | ₹27,771 Cr (30-09-2026) |
| NAV | ₹150.23 (Direct) | ₹857.24 (Direct) |
| Expense ratio (Direct) | 0.66% | 0.04% |
| Expense ratio (Regular) | 1.06% | Not available |
| Riskometer | Very High | Not available |
| Benchmark | BSE Sensex TRI Disclaimer: NSE Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or pro | Not available |
| Launch date | 05-12-2002 | Not available |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Nikhil Kapoor, Sasikant Aravamuthan | Not available |
| Exit load | Exit load of 0.25%, if redeemed within 7 days. | Not available |
LIC MF BSE Sensex Index vs Nippon India ETF BSE Sensex: 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 |
|---|---|---|---|---|---|---|---|
| LIC MF BSE Sensex Index Fund (Direct) | +2.72% | −4.39% | −2.68% | −11.41% | +5.77% | +5.44% | +10.92% |
| Nippon India ETF BSE Sensex (Direct) | +2.77% | −4.29% | −2.42% | −10.97% | +6.26% | +5.87% | +11.53% |
LIC MF BSE Sensex Index vs Nippon India ETF BSE Sensex: Year-wise Returns
| Year | LIC MF BSE Sensex IndexLIC MF BSE Sensex Index | Nippon India ETF BSE SensexNippon India ETF BSE Sensex | BSE SENSEX TRI |
|---|---|---|---|
| 2026to date | −12.19% | −11.85% | −11.81% |
| 2025 | +9.70% | +10.33% | +10.38% |
| 2024 | +9.00% | +9.39% | +9.49% |
| 2023 | +19.85% | +20.36% | +20.33% |
| 2022 | +5.38% | +5.73% | +5.80% |
| 2021 | +22.62% | +23.06% | +23.23% |
LIC MF BSE Sensex Index vs Nippon India ETF BSE Sensex: Rolling Returns
Every holding period of both funds, against BSE SENSEX TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,240 of them, one for each trading day from 25-09-2017 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.
LIC MF BSE Sensex Index Fund (Direct)
Nippon India ETF BSE Sensex (Direct)
BSE SENSEX TRI
to
Jun 2018Jan 2017
to
Jan 2020Jul 2018
to
Jul 2021Feb 2020
to
Feb 2023Aug 2021
to
Aug 2024Feb 2023
to
Feb 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LIC MF BSE Sensex Index | 0.4 | 4.6 | 21.6 | 43.6 | 22.8 | 5.4 | 1.7 | 12.8% | 13.1% | −3.4% | 31.2% | 0% |
| Nippon India ETF BSE Sensex | 0.3 | 3.5 | 18.9 | 40.0 | 29.4 | 5.8 | 2.0 | 13.4% | 13.7% | −2.8% | 31.9% | 1% |
| BSE SENSEX TRI | 0.3 | 3.4 | 18.9 | 38.6 | 30.8 | 6.0 | 2.1 | 13.5% | 13.8% | −2.8% | 32.1% | -- |
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 BSE SENSEX 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 25-09-2014. Past returns do not promise future returns.
LIC MF BSE Sensex Index vs Nippon India ETF BSE Sensex: 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 01-09-2014 to 30-10-2026: 146 instalments, ₹14,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF BSE Sensex IndexLIC MF BSE Sensex Index Fund (Direct) | ₹14,60,000 | ₹27,02,868 | ₹12,42,868 | 9.7% |
| Nippon India ETF BSE SensexNippon India ETF BSE Sensex (Direct) | ₹14,60,000 | ₹28,11,813 | ₹13,51,813 | 10.3% |
LIC MF BSE Sensex IndexLIC MF BSE Sensex Index Fund (Direct)
Nippon India ETF BSE SensexNippon India ETF BSE Sensex (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.
LIC MF BSE Sensex Index vs Nippon India ETF BSE Sensex: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF BSE Sensex Index Fund (Direct) | Nippon India ETF BSE Sensex (Direct) |
|---|---|---|
| Return (CAGR) | −11.41% | −10.97% |
| Standard deviation | 13.78% | 13.99% |
| Sharpe ratio | -1.21 | -1.16 |
| Sortino ratio | -1.62 | -1.55 |
| Maximum drawdown | −16.1% (08-10-2026) | −16.1% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.58% | −0.07% |
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 | LIC MF BSE Sensex Index Fund (Direct) | Nippon India ETF BSE Sensex (Direct) |
|---|---|---|
| Return (CAGR) | +5.77% | +6.26% |
| Standard deviation | 13.18% | 13.26% |
| Sharpe ratio | -0.02 | 0.02 |
| Sortino ratio | -0.03 | 0.02 |
| Maximum drawdown | −16.1% (08-10-2026) | −16.1% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.55% | −0.06% |
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 | LIC MF BSE Sensex Index Fund (Direct) | Nippon India ETF BSE Sensex (Direct) |
|---|---|---|
| Return (CAGR) | +5.44% | +5.87% |
| Standard deviation | 13.69% | 13.76% |
| Sharpe ratio | -0.03 | 0.00 |
| Sortino ratio | -0.04 | 0.01 |
| Maximum drawdown | −16.1% (08-10-2026) | −16.1% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.47% | −0.05% |
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 | LIC MF BSE Sensex Index Fund (Direct) | Nippon India ETF BSE Sensex (Direct) |
|---|---|---|
| Return (CAGR) | +10.65% | +10.19% |
| Standard deviation | 15.77% | 15.93% |
| Sharpe ratio | 0.29 | 0.28 |
| Sortino ratio | 0.40 | 0.38 |
| Maximum drawdown | −37.5% (23-03-2020) | −37.8% (23-03-2020) |
| Beta | 0.99 | 1.00 |
| Alpha | −0.82% | −0.07% |
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.
LIC MF BSE Sensex Index Fund (Direct)
Nippon India ETF BSE Sensex (Direct)
BSE SENSEX TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF BSE Sensex Index Fund (Direct) | −37.5% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −12.8% |
| Nippon India ETF BSE Sensex (Direct) | −37.8% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −12.4% |
| BSE SENSEX TRI | −37.9% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −12.4% |
From daily values since 25-09-2014, 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.
LIC MF BSE Sensex Index Fund (Direct)
Nippon India ETF BSE Sensex (Direct)
BSE SENSEX 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.
LIC MF BSE Sensex Index Fund (Direct)
Nippon India ETF BSE Sensex (Direct)
BSE SENSEX TRI
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.
LIC MF BSE Sensex Index Fund (Direct)
Nippon India ETF BSE Sensex (Direct)
BSE SENSEX TRI
Against BSE SENSEX TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF BSE Sensex Index Fund (Direct) | 98% | 101% | 0.30% |
| Nippon India ETF BSE Sensex (Direct) | 99% | 100% | 0.23% |
From month-end values since 25-09-2014. 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.
LIC MF BSE Sensex Index vs Nippon India ETF BSE Sensex: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF BSE Sensex Index Fund, September 2026; Nippon India ETF BSE Sensex, September 2026
Holdings in common
- Overlap
- 99.3%
- Held by both
- 30
- Only in LIC MF BSE Sensex Index
- 0
- Only in Nippon India ETF BSE Sensex
- 0
| Security | % of LIC MF BSE Sensex Index | % of Nippon India ETF BSE Sensex |
|---|---|---|
| HDFC Bank Ltd. | 12.52% | 12.59% |
| ICICI Bank Ltd. | 10.96% | 11.03% |
| Reliance Industries Ltd. | 9.09% | 9.15% |
| Bharti Airtel Ltd. | 6.31% | 6.38% |
| Larsen & Toubro Ltd. | 5.08% | 5.11% |
| State Bank of India | 4.61% | 4.64% |
| Infosys Ltd. | 4.05% | 4.08% |
| Axis Bank Ltd. | 4.05% | 4.08% |
| Kotak Mahindra Bank Ltd. | 3.55% | 3.57% |
| Mahindra & Mahindra Ltd. | 3.07% | 3.07% |
| Bajaj Finance Ltd. | 2.98% | 2.99% |
| ITC Ltd. | 2.94% | 2.96% |
| Eternal Ltd. | 2.67% | 2.69% |
| Tata Consultancy Services Ltd. | 2.40% | 2.41% |
| Sun Pharmaceutical Industries Ltd. | 2.28% | 2.28% |
| Titan Company Ltd. | 2.17% | 2.18% |
| Hindustan Unilever Ltd. | 1.94% | 1.95% |
| Maruti Suzuki India Ltd. | 1.77% | 1.79% |
| NTPC Ltd. | 1.76% | 1.78% |
| Tata Steel Ltd. | 1.75% | 1.77% |
| Bharat Electronics Ltd. | 1.61% | 1.62% |
| Adani Ports & Special Economic Zone Ltd. | 1.61% | 1.63% |
| HCL Technologies Ltd. | 1.51% | 1.51% |
| Ultratech Cement Ltd. | 1.48% | 1.50% |
| Power Grid Corporation of India Ltd. | 1.37% | 1.38% |
| InterGlobe Aviation Ltd. | 1.29% | 1.30% |
| Asian Paints Ltd. | 1.26% | 1.26% |
| Tech Mahindra Ltd. | 1.13% | 1.14% |
| Bajaj Finserv Ltd. | 1.11% | 1.13% |
| Trent Ltd. | 1.00% | 1.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.3% means 99.3% 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 LIC MF BSE Sensex Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in Nippon India ETF BSE Sensex
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 | LIC MF BSE Sensex Index | Nippon India ETF BSE Sensex |
|---|---|---|
| Equity | 99.3% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.7% | 0.0% |
Market cap of stocks
| Market cap | LIC MF BSE Sensex Index | Nippon India ETF BSE Sensex |
|---|---|---|
| Large Cap | 99.3% | 100.0% |
| Mid Cap | 0.0% | 0.0% |
| 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 | LIC MF BSE Sensex Index | Nippon India ETF BSE Sensex |
|---|---|---|
| Banks | 35.7% | 35.9% |
| Petroleum Products | 9.1% | 9.2% |
| IT - Software | 9.1% | 9.1% |
| Telecom - Services | 6.3% | 6.4% |
| Construction | 5.1% | 5.1% |
| Diversified FMCG | 4.9% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF BSE Sensex Index vs Nippon India ETF BSE Sensex: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF BSE Sensex Index Fund | Nippon India ETF BSE Sensex |
|---|---|---|
| Total expense ratio (Direct) | 0.66% | 0.04% |
| Base expense ratio (Direct) | 0.55% | 0.03% |
| Total expense ratio (Regular) | 1.06% | Not available |
| Base expense ratio (Regular) | 0.90% | 0.00% |
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.
LIC MF BSE Sensex Index Fund vs Nippon India ETF BSE Sensex: Frequently Asked Questions
What is the difference between LIC MF BSE Sensex Index Fund and Nippon India ETF BSE Sensex?
LIC MF BSE Sensex Index Fund is an Index fund, Nippon India ETF BSE Sensex is a mutual fund, run by LIC Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 99.3%. LIC MF BSE Sensex Index Fund charges 0.66% a year and Nippon India ETF BSE Sensex 0.04%.
Which has given higher returns, LIC MF BSE Sensex Index Fund or Nippon India ETF BSE Sensex?
Over 1 year: LIC MF BSE Sensex Index Fund −11.41%, Nippon India ETF BSE Sensex −10.97%. Over 3 years: LIC MF BSE Sensex Index Fund +5.77% a year, Nippon India ETF BSE Sensex +6.26% a year. Over 5 years: LIC MF BSE Sensex Index Fund +5.44% a year, Nippon India ETF BSE Sensex +5.87% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF BSE Sensex Index Fund or Nippon India ETF BSE Sensex?
Nippon India ETF BSE Sensex charges less: 0.04% a year against 0.66%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF BSE Sensex Index Fund and Nippon India ETF BSE Sensex overlap?
99.3%. They hold 30 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is better for SIP, LIC MF BSE Sensex Index Fund or Nippon India ETF BSE Sensex?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,70,548 in LIC MF BSE Sensex Index Fund (XIRR 3.7% a year) and ₹6,79,092 in Nippon India ETF BSE Sensex (XIRR 4.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF BSE Sensex Index Fund and Nippon India ETF BSE Sensex?
Yes. 99.3% 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.