Mirae Asset Banking and Financial Services Fund vs Tata NIFTY Financial Services Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Banking and Financial Services Fund is a Thematic fund and Tata NIFTY Financial Services Index Fund is an Index fund. In the year to 30-10-2026, Mirae Asset Banking and Financial Services Fund (Direct) returned −5.2% and Tata NIFTY Financial Services Index Fund (Direct) returned −9.5%. Mirae Asset Banking and Financial Services Fund charges 0.80% a year and Tata NIFTY Financial Services Index Fund 0.58% (Direct plans). Their portfolios overlap 59.0%: they hold 9 of the same securities.
Mirae Asset Banking and Financial Services Fund
Thematic
- 1 year return
- −5.2%
- Expense ratio
- 0.80%
- NAV
- ₹21.94
Tata NIFTY Financial Services Index Fund
Index
- 1 year return
- −9.5%
- Expense ratio
- 0.58%
- NAV
- ₹11.64
Which is better, Mirae Asset Banking and Financial Services or Tata NIFTY Financial Services Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Banking and Financial Services returned more over 1 year: −5.2% against −9.5%.
- Tata NIFTY Financial Services Index costs less: 0.58% a year against 0.80% (Direct plans).
- Mirae Asset Banking and Financial Services fell less in its worst fall since 30-04-2024: −15.8% against −17.4%.
- Tata NIFTY Financial Services Index holds more in large companies: 95.2% of the fund in large caps against 61.0%.
- Mirae Asset Banking and Financial Services is the larger fund: ₹2,196 Cr against ₹77 Cr.
- Their portfolios overlap 59.0%: 9 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 | Mirae Asset Banking and Financial Services Fund | Tata NIFTY Financial Services Index Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Tata Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹2,196 Cr (30-09-2026) | ₹77 Cr (30-09-2026) |
| NAV | ₹21.94 (Direct) | ₹11.64 (Direct) |
| Expense ratio (Direct) | 0.80% | 0.58% |
| Expense ratio (Regular) | 2.15% | 1.13% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Financial Services TRI | Nifty Financial Services TRI |
| Launch date | 11-12-2020 | 26-04-2024 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Abhijith Vara | Nitin Sharma, Rakesh Prajapati |
| Exit load | Exit load of 1% if redeemed within 1 Month. | Exit Load: 0.25% of the applicable NAV, if redeemed on or before 15 days from the date of allotment. |
Mirae Asset Banking and Financial Services vs Tata NIFTY Financial Services Index: 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Banking and Financial Services Fund (Direct) | −1.35% | −5.99% | −2.61% | −5.17% | +11.77% | +10.56% | -- |
| Tata NIFTY Financial Services Index Fund (Direct) | +0.27% | −5.76% | −3.15% | −9.46% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Mirae Asset Banking and Financial Services vs Tata NIFTY Financial Services Index: Year-wise Returns
| Year | Mirae Asset Banking and Financial ServicesMirae Asset Banking and Financial Services | Tata NIFTY Financial Services IndexTata NIFTY Financial Services Index | Nifty Financial Services TRI |
|---|---|---|---|
| 2026to date | −7.81% | −10.13% | −9.69% |
| 2025 | +20.99% | +17.50% | +18.60% |
| 2024 | +13.29% | -- | +10.52% |
| 2023 | +22.79% | -- | +14.31% |
| 2022 | +14.78% | -- | +10.47% |
| 2021 | +19.26% | -- | +14.55% |
Mirae Asset Banking and Financial Services vs Tata NIFTY Financial Services Index: Rolling Returns
Every holding period of both funds, against Nifty Financial Services TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 371 of them, one for each trading day from 30-04-2025 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.
Mirae Asset Banking and Financial Services Fund (Direct)
Tata NIFTY Financial Services Index Fund (Direct)
Nifty Financial Services TRI
to
Jun 2025Sept 2024
to
Sept 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Banking and Financial Services | 4.6 | 13.2 | 24.5 | 25.1 | 16.4 | 8.1 | 8.1 | 12.4% | 12.0% | −6.4% | 32.6% | 67% |
| Tata NIFTY Financial Services Index | 26.4 | 13.7 | 6.5 | 20.5 | 21.0 | 11.3 | 0.5 | 8.7% | 11.1% | −11.5% | 25.7% | 0% |
| Nifty Financial Services TRI | 23.5 | 16.2 | 5.7 | 15.4 | 22.4 | 16.2 | 0.8 | 9.6% | 12.1% | −10.9% | 26.9% | -- |
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 Nifty Financial Services 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 30-04-2024. Past returns do not promise future returns.
Mirae Asset Banking and Financial Services vs Tata NIFTY Financial Services Index: 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 01-04-2024 to 30-10-2026: 31 instalments, ₹3,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Banking and Financial ServicesMirae Asset Banking and Financial Services Fund (Direct) | ₹3,10,000 | ₹3,22,113 | ₹12,113 | 2.9% |
| Tata NIFTY Financial Services IndexTata NIFTY Financial Services Index Fund (Direct) | ₹3,10,000 | ₹3,08,128 | −₹1,872 | −0.5% |
Mirae Asset Banking and Financial ServicesMirae Asset Banking and Financial Services Fund (Direct)
Tata NIFTY Financial Services IndexTata NIFTY Financial Services Index 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.
Mirae Asset Banking and Financial Services vs Tata NIFTY Financial Services Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Banking and Financial Services Fund (Direct) | Tata NIFTY Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.17% | −9.46% |
| Standard deviation | 16.28% | 17.58% |
| Sharpe ratio | -0.64 | -0.84 |
| Sortino ratio | -0.88 | -1.16 |
| Maximum drawdown | −15.8% (30-03-2026) | −17.4% (31-03-2026) |
| Beta | 0.90 | 1.00 |
| Alpha | +2.35% | −0.58% |
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 | Mirae Asset Banking and Financial Services Fund (Direct) | Tata NIFTY Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.24% | +5.44% |
| Standard deviation | 16.69% | 16.69% |
| Sharpe ratio | 0.53 | -0.02 |
| Sortino ratio | 0.74 | -0.03 |
| Maximum drawdown | −21.0% (16-06-2022) | −17.4% (31-03-2026) |
| Beta | 0.92 | 1.00 |
| Alpha | +4.22% | −0.81% |
From daily NAVs, 14-12-2020 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.
Mirae Asset Banking and Financial Services Fund (Direct)
Tata NIFTY Financial Services Index Fund (Direct)
Nifty Financial Services TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Banking and Financial Services Fund (Direct) | −15.8% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.6% |
| Tata NIFTY Financial Services Index Fund (Direct) | −17.4% | 18-02-2026 | 31-03-2026 | Not yet | -- | −12.7% |
| Nifty Financial Services TRI | −17.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −12.4% |
From daily values since 30-04-2024, 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.
Mirae Asset Banking and Financial Services Fund (Direct)
Tata NIFTY Financial Services Index Fund (Direct)
Nifty Financial Services TRI
Against Nifty Financial Services TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Banking and Financial Services Fund (Direct) | 105% | 100% | 4.33% |
| Tata NIFTY Financial Services Index Fund (Direct) | 98% | 102% | 0.20% |
From month-end values since 30-04-2024. 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.
Mirae Asset Banking and Financial Services vs Tata NIFTY Financial Services Index: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Banking and Financial Services Fund, September 2026; Tata NIFTY Financial Services Index Fund, September 2026
Holdings in common
- Overlap
- 59.0%
- Held by both
- 9
- Only in Mirae Asset Banking and Financial Services
- 21
- Only in Tata NIFTY Financial Services Index
- 11
| Security | % of Mirae Asset Banking and Financial Services | % of Tata NIFTY Financial Services Index |
|---|---|---|
| HDFC Bank Ltd. | 14.44% | 18.64% |
| ICICI Bank Ltd. | 13.63% | 14.20% |
| State Bank of India | 8.62% | 9.94% |
| Axis Bank Ltd. | 7.96% | 10.18% |
| Kotak Mahindra Bank Ltd. | 4.49% | 10.11% |
| Bajaj Finance Ltd. | 3.87% | 8.62% |
| SBI Life Insurance Co. Ltd. | 3.45% | 2.51% |
| Shriram Finance Ltd. | 2.10% | 4.53% |
| BSE Ltd. | 1.41% | 4.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 59.0% means 59.0% 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 Mirae Asset Banking and Financial Services Fund
| Security | % of fund |
|---|---|
| Multi Commodity Exchange of India Ltd. | 2.97% |
| Kfin Technologies Ltd. | 2.93% |
| HDB Financial Services Ltd. | 2.74% |
| L&T Finance Ltd. | 2.69% |
| Karur Vysya Bank Ltd. | 2.63% |
Largest holdings only in Tata NIFTY Financial Services Index Fund
| Security | % of fund |
|---|---|
| BAJAJ FINSERV LTD | 3.31% |
| JIO FINANCIAL SERVICES LTD | 2.34% |
| CHOLAMANDALAM INVESTMENT & FINANCE CO LTD | 2.31% |
| HDFC LIFE INSURANCE CO. LTD | 1.85% |
| POWER FINANCE CORPORATION LTD | 1.56% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Banking and Financial Services | Tata NIFTY Financial Services Index |
|---|---|---|
| Equity | 97.9% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.1% | -0.0% |
Market cap of stocks
| Market cap | Mirae Asset Banking and Financial Services | Tata NIFTY Financial Services Index |
|---|---|---|
| Large Cap | 61.0% | 95.2% |
| Mid Cap | 15.7% | 4.2% |
| Small Cap | 21.2% | 0.5% |
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 | Mirae Asset Banking and Financial Services | Tata NIFTY Financial Services Index |
|---|---|---|
| Banks | 58.4% | 63.1% |
| Finance | 17.9% | 26.0% |
| Capital Markets | 11.3% | 4.2% |
| Insurance | 7.7% | 6.8% |
| Financial Technology (Fintech) | 2.6% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Banking and Financial Services vs Tata NIFTY Financial Services Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Banking and Financial Services Fund | Tata NIFTY Financial Services Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 0.58% |
| Base expense ratio (Direct) | 0.59% | 0.39% |
| Total expense ratio (Regular) | 2.15% | 1.13% |
| Base expense ratio (Regular) | 1.74% | 0.90% |
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 Mirae Asset Banking and Financial Services with
- Mirae Asset Banking and Financial Services vs Nippon India Taiwan Equity
- Mirae Asset Banking and Financial Services vs HDFC Defence
- Mirae Asset Banking and Financial Services vs HDFC Pharma and Healthcare
- Mirae Asset Banking and Financial Services vs SBI Healthcare Opportunities
- Mirae Asset Banking and Financial Services vs Aditya Birla Sun Life International Equity
Mirae Asset Banking and Financial Services Fund vs Tata NIFTY Financial Services Index Fund: Frequently Asked Questions
What is the difference between Mirae Asset Banking and Financial Services Fund and Tata NIFTY Financial Services Index Fund?
Mirae Asset Banking and Financial Services Fund is a Thematic fund, Tata NIFTY Financial Services Index Fund is an Index fund, run by Mirae Asset Mutual Fund and Tata Mutual Fund. Their portfolios overlap 59.0%. Mirae Asset Banking and Financial Services Fund charges 0.80% a year and Tata NIFTY Financial Services Index Fund 0.58%.
Which has given higher returns, Mirae Asset Banking and Financial Services Fund or Tata NIFTY Financial Services Index Fund?
Over 1 year: Mirae Asset Banking and Financial Services Fund −5.17%, Tata NIFTY Financial Services Index Fund −9.46%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Banking and Financial Services Fund or Tata NIFTY Financial Services Index Fund?
Tata NIFTY Financial Services Index Fund charges less: 0.58% a year against 0.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Banking and Financial Services Fund and Tata NIFTY Financial Services Index Fund overlap?
59.0%. They hold 9 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, SBIN. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Banking and Financial Services Fund or Tata NIFTY Financial Services Index Fund?
On SEBI's riskometer, Mirae Asset Banking and Financial Services Fund is rated Very High and Tata NIFTY Financial Services Index Fund Very High. Over 1 years, the standard deviation of daily returns was 16.28% and 17.58% a year.
Can I invest in both Mirae Asset Banking and Financial Services Fund and Tata NIFTY Financial Services Index Fund?
Yes. 59.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Mirae Asset Banking and Financial Services Fund and Tata NIFTY Financial Services Index Fund?
Mirae Asset Banking and Financial Services Fund: Abhijith Vara. Tata NIFTY Financial Services Index Fund: Nitin Sharma, Rakesh Prajapati.
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.