Mahindra Manulife Innovation Opportunities Fund vs SBI Healthcare Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Innovation Opportunities Fund is a Thematic fund and SBI Healthcare Opportunities Fund is a Thematic fund. Mahindra Manulife Innovation Opportunities Fund charges 0.98% a year and SBI Healthcare Opportunities Fund 1.01% (Direct plans). Their portfolios overlap 13.5%: they hold 7 of the same securities.
Mahindra Manulife Innovation Opportunities Fund
Thematic
- Expense ratio
- 0.98%
- NAV
- ₹10.45
SBI Healthcare Opportunities Fund
Thematic
- Expense ratio
- 1.01%
- NAV
- ₹588.16
Which is better, Mahindra Manulife Innovation Opportunities or SBI Healthcare Opportunities? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mahindra Manulife Innovation Opportunities costs less: 0.98% a year against 1.01% (Direct plans).
- SBI Healthcare Opportunities fell less in its worst fall since 02-02-2026: −10.3% against −11.4%.
- SBI Healthcare Opportunities is the larger fund: ₹5,870 Cr against ₹257 Cr.
- Their portfolios overlap 13.5%: 7 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 | Mahindra Manulife Innovation Opportunities Fund | SBI Healthcare Opportunities Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | SBI Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹257 Cr (30-09-2026) | ₹5,870 Cr (30-09-2026) |
| NAV | ₹10.45 (Direct) | ₹588.16 (Direct) |
| Expense ratio (Direct) | 0.98% | 1.01% |
| Expense ratio (Regular) | 2.57% | 1.99% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 500 TRI | Not available |
| Launch date | 30-01-2026 | Not available |
| Minimum investment | ₹1,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Kirti Dalvi, Renjith Sivaram Radhakrishnan | Not available |
| Exit load | Exit Load (as % of NAV) #: -An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; -Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). # Applicable for normal subscriptions / redemptions including transactions under special products such as SIP, SWP, switches, etc. offered by the AMC. For detailed load structure disclosure, please refer SID. | Not available |
Mahindra Manulife Innovation Opportunities vs SBI Healthcare Opportunities: 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 |
|---|---|---|---|---|---|---|---|
| Mahindra Manulife Innovation Opportunities Fund (Direct) | −1.59% | −5.20% | +2.61% | -- | -- | -- | -- |
| SBI Healthcare Opportunities Fund (Direct) | +0.31% | −0.59% | +16.00% | +17.12% | +24.60% | +19.22% | +14.72% |
| 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.
Mahindra Manulife Innovation Opportunities vs SBI Healthcare Opportunities: Year-wise Returns
| Year | Mahindra Manulife InnovationMahindra Manulife Innovation Opportunities | SBI HealthcareSBI Healthcare Opportunities |
|---|---|---|
| 2026to date | -- | +21.31% |
| 2025 | -- | −2.50% |
| 2024 | -- | +43.75% |
| 2023 | -- | +39.72% |
| 2022 | -- | −5.01% |
| 2021 | -- | +21.48% |
Mahindra Manulife Innovation Opportunities vs SBI Healthcare Opportunities: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Mahindra Manulife Innovation Opportunities Fund
Mahindra Manulife Innovation Opportunities vs SBI Healthcare Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Innovation Opportunities Fund (Direct) | SBI Healthcare Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.88% | +17.93% |
| Standard deviation | 16.12% | 15.96% |
| Sharpe ratio | 0.04 | 0.74 |
| Sortino ratio | 0.06 | 1.05 |
| Maximum drawdown | −11.4% (23-10-2026) | −30.5% (23-03-2020) |
| Beta | 0.96 | 0.91 |
| Alpha | +10.05% | +3.97% |
From daily NAVs, 02-02-2026 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.
Mahindra Manulife Innovation Opportunities Fund (Direct)
SBI Healthcare Opportunities Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Innovation Opportunities Fund (Direct) | −11.4% | 27-08-2026 | 23-10-2026 | Not yet | -- | −8.0% |
| SBI Healthcare Opportunities Fund (Direct) | −10.3% | 21-09-2026 | 23-10-2026 | Not yet | -- | −3.8% |
| Nifty 500 TRI | −13.6% | 11-02-2026 | 30-03-2026 | 03-08-2026 | 4 months | −7.9% |
From daily values since 02-02-2026, the first day every fund has.
Mahindra Manulife Innovation Opportunities vs SBI Healthcare Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Innovation Opportunities Fund, September 2026; SBI Healthcare Opportunities Fund, September 2026
Holdings in common
- Overlap
- 13.5%
- Held by both
- 7
- Only in Mahindra Manulife Innovation Opportunities
- 47
- Only in SBI Healthcare Opportunities
- 29
| Security | % of Mahindra Manulife Innovation Opportunities | % of SBI Healthcare Opportunities |
|---|---|---|
| Acutaas Chemicals Limited | 2.59% | 5.03% |
| Torrent Pharmaceuticals Limited | 2.57% | 4.42% |
| Aster DM Quality Care Limited | 2.29% | 3.21% |
| Divi's Laboratories Limited | 2.26% | 7.91% |
| Dr. Lal Path Labs Limited | 2.23% | 1.62% |
| Biocon Limited | 1.21% | 2.37% |
| Anthem Biosciences Limited | 0.94% | 2.75% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.5% means 13.5% 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 Mahindra Manulife Innovation Opportunities Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 3.79% |
| Bajaj Finance Ltd | 2.73% |
| One 97 Communications Limited | 2.64% |
| ICICI Bank Limited | 2.61% |
| Aditya Birla Capital Limited | 2.60% |
Largest holdings only in SBI Healthcare Opportunities Fund
| Security | % of fund |
|---|---|
| Sun Pharmaceutical Industries Ltd. | 11.14% |
| Apollo Hospitals Enterprise Ltd. | 4.45% |
| Cipla Ltd. | 4.40% |
| Laurus Labs Ltd. | 4.05% |
| Max Healthcare Institute Ltd. | 3.80% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Innovation Opportunities | SBI Healthcare Opportunities |
|---|---|---|
| Equity | 97.5% | 95.5% |
| Debt | 0.0% | 0.1% |
| Cash and others | 2.5% | 4.4% |
Market cap of stocks
| Market cap | Mahindra Manulife Innovation Opportunities | SBI Healthcare Opportunities |
|---|---|---|
| Large Cap | 39.1% | 32.3% |
| Mid Cap | 34.1% | 25.7% |
| Small Cap | 24.3% | 35.4% |
| Not on AMFI's list | 0.0% | 2.2% |
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 | Mahindra Manulife Innovation Opportunities | SBI Healthcare Opportunities |
|---|---|---|
| Pharmaceuticals & Biotechnology | 13.1% | 63.1% |
| Healthcare Services | 4.5% | 25.6% |
| Banks | 8.3% | 0.0% |
| Finance | 6.7% | 0.0% |
| Transport Services | 5.9% | 0.0% |
| Retailing | 5.0% | 0.0% |
| Chemicals & Petrochemicals | 3.2% | 5.0% |
| Auto Components | 4.9% | 0.0% |
| Healthcare Equipment & Supplies | 0.0% | 1.8% |
The six largest sectors of each fund's stocks, % of the fund.
Mahindra Manulife Innovation Opportunities vs SBI Healthcare Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Innovation Opportunities Fund | SBI Healthcare Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.98% | 1.01% |
| Base expense ratio (Direct) | 0.70% | 0.74% |
| Total expense ratio (Regular) | 2.57% | 1.99% |
| Base expense ratio (Regular) | 2.10% | 1.58% |
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 Mahindra Manulife Innovation Opportunities with
Mahindra Manulife Innovation Opportunities Fund vs SBI Healthcare Opportunities Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Innovation Opportunities Fund and SBI Healthcare Opportunities Fund?
Mahindra Manulife Innovation Opportunities Fund is a Thematic fund, SBI Healthcare Opportunities Fund is a Thematic fund, run by Mahindra Manulife Mutual Fund and SBI Mutual Fund. Their portfolios overlap 13.5%. Mahindra Manulife Innovation Opportunities Fund charges 0.98% a year and SBI Healthcare Opportunities Fund 1.01%.
Which has the lower expense ratio, Mahindra Manulife Innovation Opportunities Fund or SBI Healthcare Opportunities Fund?
Mahindra Manulife Innovation Opportunities Fund charges less: 0.98% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Innovation Opportunities Fund and SBI Healthcare Opportunities Fund overlap?
13.5%. They hold 7 of the same securities, the largest shared ones being ACUTAAS, TORNTPHARM, ASTERDM. From each fund's latest monthly portfolio.
Can I invest in both Mahindra Manulife Innovation Opportunities Fund and SBI Healthcare Opportunities Fund?
Yes. 13.5% of each fund's money sits in the same holdings, so some 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.