Mirae Asset BSE Select IPO ETF vs SBI Innovative Opportunities Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Mirae Asset BSE Select IPO ETF is an ETF fund and SBI Innovative Opportunities Fund is a Thematic fund. In the year to 30-10-2026, Mirae Asset BSE Select IPO ETF returned −10.7% and SBI Innovative Opportunities Fund (Direct) returned 4.7%. Mirae Asset BSE Select IPO ETF charges 0.59% a year and SBI Innovative Opportunities Fund 1.04%. Their portfolios overlap 28.8%: they hold 15 of the same securities.
Mirae Asset BSE Select IPO ETF
ETF
- 1 year return
- −10.7%
- Expense ratio
- 0.59%
- NAV
- ₹44.53
SBI Innovative Opportunities Fund
Thematic
- 1 year return
- 4.7%
- Expense ratio
- 1.04%
- NAV
- ₹10.63
Which is better, Mirae Asset BSE Select IPO ETF or SBI Innovative Opportunities? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Innovative Opportunities returned more over 1 year: 4.7% against −10.7%.
- Mirae Asset BSE Select IPO ETF costs less: 0.59% a year against 1.04%.
- SBI Innovative Opportunities fell less in its worst fall since 11-03-2025: −18.8% against −24.6%.
- SBI Innovative Opportunities is the larger fund: ₹5,125 Cr against ₹23 Cr.
- Their portfolios overlap 28.8%: 15 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 BSE Select IPO ETF | SBI Innovative Opportunities Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | SBI Mutual Fund |
| Category | ETF | Thematic |
| AUM | ₹23 Cr (30-09-2026) | ₹5,125 Cr (30-09-2026) |
| NAV | ₹44.53 | ₹10.63 (Direct) |
| Expense ratio (Direct) | Not available | 1.04% |
| Expense ratio (Regular) | Not available | 2.02% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Select IPO TRI (Total Return Index) | Nifty 500 TRI |
| Launch date | 10-03-2025 | 20-08-2024 |
| Minimum investment | On exchange in multiple of 1 unit. With AMC: In multiples of 1,00,000 units | ₹5,000 |
| Lock in | None | None |
| Fund managers | Ekta Gala, amp, Vishal Singh | Vivek Gedda |
| Exit load | NIL | Exit load of 1%, if redeemed within 30 days. |
Mirae Asset BSE Select IPO ETF vs SBI Innovative 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset BSE Select IPO ETF | −3.54% | −4.82% | +2.96% | −10.67% | -- | -- | -- |
| SBI Innovative Opportunities Fund (Direct) | +0.51% | +2.07% | +15.00% | +4.65% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Mirae Asset BSE Select IPO ETF vs SBI Innovative Opportunities: Year-wise Returns
| Year | Mirae Asset BSE Select IPO ETFMirae Asset BSE Select IPO ETF | SBI Innovative OpportunitiesSBI Innovative Opportunities |
|---|---|---|
| 2026to date | −3.55% | +5.62% |
| 2025 | -- | −1.08% |
Mirae Asset BSE Select IPO ETF vs SBI Innovative Opportunities: Rolling Returns
Every holding period of both funds, against BSE SELECT IPO TRI, the benchmark of Mirae Asset BSE Select IPO ETF
Rolling returns
Every 1-year holding period, 157 of them, one for each trading day from 11-03-2026 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 BSE Select IPO ETF
SBI Innovative Opportunities Fund (Direct)
BSE SELECT IPO TRI
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 BSE Select IPO ETF | 86.6 | 13.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −4.7% | −4.9% | −14.1% | 3.1% | 0% |
| SBI Innovative Opportunities | 26.6 | 23.4 | 36.1 | 13.9 | 0.0 | 0.0 | 0.0 | 4.2% | 4.9% | −7.1% | 14.6% | 96% |
| BSE SELECT IPO TRI | 84.1 | 15.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −4.3% | −4.5% | −13.8% | 3.6% | -- |
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 SELECT IPO 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 11-03-2025. Past returns do not promise future returns.
Mirae Asset BSE Select IPO ETF vs SBI Innovative Opportunities: 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 11-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset BSE Select IPO ETFMirae Asset BSE Select IPO ETF | ₹2,00,000 | ₹1,97,318 | −₹2,682 | −1.5% |
| SBI Innovative OpportunitiesSBI Innovative Opportunities Fund (Direct) | ₹2,00,000 | ₹2,22,610 | ₹22,610 | 12.9% |
Mirae Asset BSE Select IPO ETFMirae Asset BSE Select IPO ETF
SBI Innovative OpportunitiesSBI Innovative Opportunities 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 BSE Select IPO ETF vs SBI Innovative Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset BSE Select IPO ETF | SBI Innovative Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.67% | +4.65% |
| Standard deviation | 18.10% | 16.39% |
| Sharpe ratio | -0.88 | -0.04 |
| Sortino ratio | -1.17 | -0.05 |
| Maximum drawdown | −23.5% (31-03-2026) | −18.5% (31-03-2026) |
| Beta | 1.00 | 0.96 |
| Alpha | −0.38% | +11.48% |
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 BSE Select IPO ETF | SBI Innovative Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.16% | +2.53% |
| Standard deviation | 17.83% | 15.31% |
| Sharpe ratio | 0.10 | -0.21 |
| Sortino ratio | 0.14 | -0.29 |
| Maximum drawdown | −24.6% (31-03-2026) | −20.8% (07-04-2025) |
| Beta | 1.00 | 0.93 |
| Alpha | −0.47% | +4.48% |
From daily NAVs, 11-03-2025 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.
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 BSE Select IPO ETF
SBI Innovative Opportunities Fund (Direct)
BSE SELECT IPO TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset BSE Select IPO ETF | −24.6% | 19-09-2025 | 31-03-2026 | Not yet | -- | −11.9% |
| SBI Innovative Opportunities Fund (Direct) | −18.8% | 19-09-2025 | 31-03-2026 | 10-07-2026 | 3 months | −4.8% |
| BSE SELECT IPO TRI | −24.4% | 19-09-2025 | 30-03-2026 | Not yet | -- | −11.5% |
From daily values since 11-03-2025, 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 BSE Select IPO ETF
SBI Innovative Opportunities Fund (Direct)
BSE SELECT IPO TRI
Against BSE SELECT IPO TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset BSE Select IPO ETF | 99% | 101% | 0.04% |
| SBI Innovative Opportunities Fund (Direct) | 97% | 64% | 7.81% |
From month-end values since 11-03-2025. 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 BSE Select IPO ETF vs SBI Innovative Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset BSE Select IPO ETF, September 2026; SBI Innovative Opportunities Fund, September 2026
Holdings in common
- Overlap
- 28.8%
- Held by both
- 15
- Only in Mirae Asset BSE Select IPO ETF
- 55
- Only in SBI Innovative Opportunities
- 24
| Security | % of Mirae Asset BSE Select IPO ETF | % of SBI Innovative Opportunities |
|---|---|---|
| Meesho Ltd. | 5.51% | 5.29% |
| Eternal Ltd. | 5.24% | 9.05% |
| FSN E-Commerce Ventures Ltd. | 3.21% | 5.00% |
| Swiggy Ltd. | 2.72% | 3.42% |
| One 97 Communications Ltd. | 5.02% | 2.66% |
| Ather Energy Ltd. | 1.97% | 4.59% |
| Sona Blw Precision Forgings Ltd. | 2.72% | 1.62% |
| Pine Labs Ltd. | 1.40% | 1.68% |
| PB Fintech Ltd. | 2.77% | 0.99% |
| Billionbrains Garage Ventures Ltd. | 1.94% | 0.85% |
| Lenskart Solutions Ltd. | 5.19% | 0.83% |
| Sedemac Mechatronics Ltd. | 0.54% | 3.10% |
| Hexaware Technologies Ltd. | 0.53% | 1.45% |
| Physicswallah Ltd. | 0.52% | 1.64% |
| Urban Company Ltd. | 0.39% | 3.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.8% means 28.8% 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 Mirae Asset BSE Select IPO ETF
| Security | % of fund |
|---|---|
| Tata Motors Ltd. | 4.98% |
| Jio Financial Services Ltd. | 4.92% |
| Life Insurance Corporation of India | 4.00% |
| Siemens Energy India Ltd. | 2.08% |
| Vishal Mega Mart Ltd. | 2.07% |
Largest holdings only in SBI Innovative Opportunities Fund
| Security | % of fund |
|---|---|
| TBO Tek Ltd. | 6.63% |
| Divi's Laboratories Ltd. | 5.44% |
| BlackBuck Ltd. | 4.74% |
| Bajaj Finance Ltd. | 4.68% |
| Sun Pharmaceutical Industries Ltd. | 3.54% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset BSE Select IPO ETF | SBI Innovative Opportunities |
|---|---|---|
| Equity | 100.0% | 97.2% |
| Debt | 0.0% | 0.1% |
| Cash and others | 0.0% | 2.7% |
Market cap of stocks
| Market cap | Mirae Asset BSE Select IPO ETF | SBI Innovative Opportunities |
|---|---|---|
| Large Cap | 25.8% | 28.4% |
| Mid Cap | 46.4% | 25.4% |
| Small Cap | 27.9% | 42.6% |
| Not on AMFI's list | 0.0% | 0.8% |
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 BSE Select IPO ETF | SBI Innovative Opportunities |
|---|---|---|
| Retailing | 24.3% | 30.0% |
| Finance | 11.5% | 6.9% |
| Pharmaceuticals & Biotechnology | 6.8% | 9.9% |
| Financial Technology (Fintech) | 9.2% | 5.3% |
| Leisure Services | 1.7% | 6.6% |
| Automobiles | 4.6% | 6.3% |
| Transport Services | 2.2% | 5.6% |
| Electrical Equipment | 5.1% | 0.0% |
| Capital Markets | 5.0% | 1.8% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset BSE Select IPO ETF vs SBI Innovative Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset BSE Select IPO ETF | SBI Innovative Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.04% |
| Base expense ratio (Direct) | 0.00% | 0.76% |
| Total expense ratio (Regular) | Not available | 2.02% |
| Base expense ratio (Regular) | 0.32% | 1.60% |
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 SBI Innovative Opportunities with
Mirae Asset BSE Select IPO ETF vs SBI Innovative Opportunities Fund: Frequently Asked Questions
What is the difference between Mirae Asset BSE Select IPO ETF and SBI Innovative Opportunities Fund?
Mirae Asset BSE Select IPO ETF is an ETF fund, SBI Innovative Opportunities Fund is a Thematic fund, run by Mirae Asset Mutual Fund and SBI Mutual Fund. Their portfolios overlap 28.8%. Mirae Asset BSE Select IPO ETF charges 0.59% a year and SBI Innovative Opportunities Fund 1.04%.
Which has given higher returns, Mirae Asset BSE Select IPO ETF or SBI Innovative Opportunities Fund?
Over 1 year: Mirae Asset BSE Select IPO ETF −10.67%, SBI Innovative Opportunities Fund +4.65%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset BSE Select IPO ETF or SBI Innovative Opportunities Fund?
Mirae Asset BSE Select IPO ETF charges less: 0.59% a year against 1.04%. These are the total expense ratios reported to AMFI.
How much do Mirae Asset BSE Select IPO ETF and SBI Innovative Opportunities Fund overlap?
28.8%. They hold 15 of the same securities, the largest shared ones being MEESHO, ETERNAL, NYKAA. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset BSE Select IPO ETF or SBI Innovative Opportunities Fund?
On SEBI's riskometer, Mirae Asset BSE Select IPO ETF is rated Very High and SBI Innovative Opportunities Fund Very High. Over 1 years, the standard deviation of daily returns was 18.10% and 16.39% a year.
Can I invest in both Mirae Asset BSE Select IPO ETF and SBI Innovative Opportunities Fund?
Yes. 28.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Mirae Asset BSE Select IPO ETF and SBI Innovative Opportunities Fund?
Mirae Asset BSE Select IPO ETF: Ekta Gala, amp, Vishal Singh. SBI Innovative Opportunities Fund: Vivek Gedda.
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.