Mirae Asset Nifty Financial Services ETF vs Navi Nifty Bank Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Mirae Asset Nifty Financial Services ETF is an ETF fund and Navi Nifty Bank Index Fund is an Index fund. In the 3 years to 30-10-2026, Mirae Asset Nifty Financial Services ETF returned 9.6% a year and Navi Nifty Bank Index Fund (Direct) returned 8.9% a year. Mirae Asset Nifty Financial Services ETF charges 0.20% a year and Navi Nifty Bank Index Fund 0.23%. Their portfolios overlap 62.9%: they hold 5 of the same securities.
Mirae Asset Nifty Financial Services ETF
ETF
- 3 year return
- 9.6%
- Expense ratio
- 0.20%
- NAV
- ₹25.73
Navi Nifty Bank Index Fund
Index
- 3 year return
- 8.9%
- Expense ratio
- 0.23%
- NAV
- ₹14.43
Which is better, Mirae Asset Nifty Financial Services ETF or Navi Nifty Bank 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 Nifty Financial Services ETF returned more over 3 years: 9.6% a year against 8.9%.
- Navi Nifty Bank Index returned more over 1 year: −5.4% against −9.1%.
- Mirae Asset Nifty Financial Services ETF costs less: 0.20% a year against 0.23%.
- Navi Nifty Bank Index swung less over 3 years: a standard deviation of 15.9% a year against 16.2%.
- Mirae Asset Nifty Financial Services ETF fell less in its worst fall since 04-02-2022: −17.4% against −18.4%.
- Mirae Asset Nifty Financial Services ETF holds more in large companies: 95.2% of the fund in large caps against 76.1%.
- Navi Nifty Bank Index is the larger fund: ₹613 Cr against ₹369 Cr.
- Their portfolios overlap 62.9%: 5 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 Nifty Financial Services ETF | Navi Nifty Bank Index Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Navi Mutual Fund |
| Category | ETF | Index |
| AUM | ₹369 Cr (30-09-2026) | ₹613 Cr (30-09-2026) |
| NAV | ₹25.73 | ₹14.43 (Direct) |
| Expense ratio (Direct) | Not available | 0.23% |
| Expense ratio (Regular) | Not available | 1.11% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Financial Services TRI | Nifty Bank TRI |
| Launch date | 30-07-2021 | 04-02-2022 |
| Minimum investment | On exchange ( in multiple of 1 units), Directly with AMC (in multiple of 3,00,000 units) | ₹100 |
| Lock in | None | None |
| Fund managers | Ekta Gala, amp, Ritesh Patel | Ashutosh Shirwaikar |
| Exit load | NIL | NIL |
Mirae Asset Nifty Financial Services ETF vs Navi Nifty Bank 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 Nifty Financial Services ETF | +0.29% | −5.67% | −2.95% | −9.05% | +9.59% | +6.50% | -- |
| Navi Nifty Bank Index Fund (Direct) | +0.08% | −4.18% | +0.23% | −5.42% | +8.90% | -- | -- |
Mirae Asset Nifty Financial Services ETF vs Navi Nifty Bank Index: Year-wise Returns
| Year | Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF | Navi Nifty Bank IndexNavi Nifty Bank Index |
|---|---|---|
| 2026to date | −9.79% | −7.82% |
| 2025 | +18.40% | +17.79% |
| 2024 | +10.31% | +6.01% |
| 2023 | +14.26% | +12.78% |
| 2022 | +10.34% | -- |
Mirae Asset Nifty Financial Services ETF vs Navi Nifty Bank Index: Rolling Returns
Every holding period of both funds, against Nifty Financial Services TRI, the benchmark of Mirae Asset Nifty Financial Services ETF
Rolling returns
Every 3-year holding period, 428 of them, one for each trading day from 04-02-2025 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 Nifty Financial Services ETF
Navi Nifty Bank Index Fund (Direct)
Nifty Financial Services TRI
to
Mar 2025Jul 2022
to
Jul 2025Oct 2022
to
Oct 2025Feb 2023
to
Feb 2026May 2023
to
May 2026Sept 2023
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 Nifty Financial Services ETF | 0.0 | 0.0 | 14.0 | 53.3 | 27.3 | 5.4 | 0.0 | 13.8% | 13.7% | 7.8% | 21.8% | 0% |
| Navi Nifty Bank Index | 0.0 | 0.0 | 30.7 | 51.1 | 17.3 | 0.9 | 0.0 | 12.1% | 11.8% | 7.0% | 20.3% | 0% |
| Nifty Financial Services TRI | 0.0 | 0.0 | 11.7 | 54.2 | 28.5 | 5.6 | 0.0 | 13.9% | 13.9% | 7.9% | 21.9% | -- |
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 04-02-2022. Past returns do not promise future returns.
Mirae Asset Nifty Financial Services ETF vs Navi Nifty Bank 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 01-02-2022 to 30-10-2026: 57 instalments, ₹5,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF | ₹5,70,000 | ₹6,67,933 | ₹97,933 | 6.6% |
| Navi Nifty Bank IndexNavi Nifty Bank Index Fund (Direct) | ₹5,70,000 | ₹6,70,389 | ₹1,00,389 | 6.8% |
Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF
Navi Nifty Bank IndexNavi Nifty Bank 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 Nifty Financial Services ETF vs Navi Nifty Bank Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Nifty Financial Services ETF | Navi Nifty Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.05% | −5.42% |
| Standard deviation | 17.61% | 17.01% |
| Sharpe ratio | -0.81 | -0.63 |
| Sortino ratio | -1.12 | -0.87 |
| Maximum drawdown | −17.3% (30-03-2026) | −18.4% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.18% | −0.27% |
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 Nifty Financial Services ETF | Navi Nifty Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.59% | +8.90% |
| Standard deviation | 16.22% | 15.93% |
| Sharpe ratio | 0.22 | 0.18 |
| Sortino ratio | 0.31 | 0.25 |
| Maximum drawdown | −17.3% (30-03-2026) | −18.4% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.17% | −0.26% |
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 | Mirae Asset Nifty Financial Services ETF | Navi Nifty Bank Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.81% | +8.09% |
| Standard deviation | 16.60% | 16.50% |
| Sharpe ratio | 0.19 | 0.13 |
| Sortino ratio | 0.26 | 0.18 |
| Maximum drawdown | −23.2% (16-06-2022) | −18.4% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.13% | −0.34% |
From daily NAVs, 02-08-2021 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.
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 Nifty Financial Services ETF
Navi Nifty Bank 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 Nifty Financial Services ETF | −17.4% | 04-04-2022 | 16-06-2022 | 16-08-2022 | 2 months | −12.5% |
| Navi Nifty Bank Index Fund (Direct) | −18.4% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.7% |
| Nifty Financial Services TRI | −17.4% | 04-04-2022 | 16-06-2022 | 16-08-2022 | 2 months | −12.4% |
From daily values since 04-02-2022, 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 Nifty Financial Services ETF
Navi Nifty Bank Index Fund (Direct)
Nifty Financial Services 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.
Mirae Asset Nifty Financial Services ETF
Navi Nifty Bank Index Fund (Direct)
Nifty Financial Services TRI
Against Nifty Financial Services TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Nifty Financial Services ETF | 100% | 100% | 0.06% |
| Navi Nifty Bank Index Fund (Direct) | 100% | 97% | 3.62% |
From month-end values since 04-02-2022. 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 Nifty Financial Services ETF vs Navi Nifty Bank Index: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Nifty Financial Services ETF, September 2026; Navi Nifty Bank Index Fund, September 2026
Holdings in common
- Overlap
- 62.9%
- Held by both
- 5
- Only in Mirae Asset Nifty Financial Services ETF
- 15
- Only in Navi Nifty Bank Index
- 9
| Security | % of Mirae Asset Nifty Financial Services ETF | % of Navi Nifty Bank Index |
|---|---|---|
| HDFC Bank Ltd. | 18.64% | 18.63% |
| ICICI Bank Ltd. | 14.20% | 14.19% |
| Kotak Mahindra Bank Ltd. | 10.11% | 10.21% |
| Axis Bank Ltd. | 10.18% | 10.06% |
| State Bank of India | 9.94% | 9.93% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 62.9% means 62.9% 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 Mirae Asset Nifty Financial Services ETF
| Security | % of fund |
|---|---|
| Bajaj Finance Ltd. | 8.62% |
| Shriram Finance Ltd. | 4.53% |
| BSE Ltd. | 4.16% |
| Bajaj Finserv Ltd. | 3.31% |
| SBI Life Insurance Co. Ltd. | 2.51% |
Largest holdings only in Navi Nifty Bank Index Fund
| Security | % of fund |
|---|---|
| THE FEDERAL BANK LIMITED | 6.57% |
| INDUSIND BANK LIMITED | 4.97% |
| AU SMALL FINANCE BANK LIMITED | 4.85% |
| IDFC FIRST BANK LIMITED | 4.54% |
| BANK OF BARODA | 3.59% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Nifty Financial Services ETF | Navi Nifty Bank Index |
|---|---|---|
| Equity | 100.0% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | -0.1% |
Market cap of stocks
| Market cap | Mirae Asset Nifty Financial Services ETF | Navi Nifty Bank Index |
|---|---|---|
| Large Cap | 95.2% | 76.1% |
| Mid Cap | 4.2% | 23.9% |
| Small Cap | 0.5% | 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 | Mirae Asset Nifty Financial Services ETF | Navi Nifty Bank Index |
|---|---|---|
| BANKS | 0.0% | 100.0% |
| Banks | 63.1% | 0.0% |
| Finance | 26.0% | 0.0% |
| Insurance | 6.8% | 0.0% |
| Capital Markets | 4.2% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Nifty Financial Services ETF vs Navi Nifty Bank Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Nifty Financial Services ETF | Navi Nifty Bank Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.23% |
| Base expense ratio (Direct) | 0.00% | 0.15% |
| Total expense ratio (Regular) | Not available | 1.11% |
| Base expense ratio (Regular) | 0.11% | 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.
Mirae Asset Nifty Financial Services ETF vs Navi Nifty Bank Index Fund: Frequently Asked Questions
What is the difference between Mirae Asset Nifty Financial Services ETF and Navi Nifty Bank Index Fund?
Mirae Asset Nifty Financial Services ETF is an ETF fund, Navi Nifty Bank Index Fund is an Index fund, run by Mirae Asset Mutual Fund and Navi Mutual Fund. Their portfolios overlap 62.9%. Mirae Asset Nifty Financial Services ETF charges 0.20% a year and Navi Nifty Bank Index Fund 0.23%.
Which has given higher returns, Mirae Asset Nifty Financial Services ETF or Navi Nifty Bank Index Fund?
Over 1 year: Mirae Asset Nifty Financial Services ETF −9.05%, Navi Nifty Bank Index Fund −5.42%. Over 3 years: Mirae Asset Nifty Financial Services ETF +9.59% a year, Navi Nifty Bank Index Fund +8.90% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Nifty Financial Services ETF or Navi Nifty Bank Index Fund?
Mirae Asset Nifty Financial Services ETF charges less: 0.20% a year against 0.23%. These are the total expense ratios reported to AMFI.
How much do Mirae Asset Nifty Financial Services ETF and Navi Nifty Bank Index Fund overlap?
62.9%. They hold 5 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Nifty Financial Services ETF or Navi Nifty Bank Index Fund?
On SEBI's riskometer, Mirae Asset Nifty Financial Services ETF is rated Very High and Navi Nifty Bank Index Fund Very High. Over 3 years, the standard deviation of daily returns was 16.22% and 15.93% a year.
Which is better for SIP, Mirae Asset Nifty Financial Services ETF or Navi Nifty Bank Index Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,85,658 in Mirae Asset Nifty Financial Services ETF (XIRR 2.6% a year) and ₹3,90,445 in Navi Nifty Bank Index Fund (XIRR 3.4% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Nifty Financial Services ETF and Navi Nifty Bank Index Fund?
Yes. 62.9% 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 Nifty Financial Services ETF and Navi Nifty Bank Index Fund?
Mirae Asset Nifty Financial Services ETF: Ekta Gala, amp, Ritesh Patel. Navi Nifty Bank Index Fund: Ashutosh Shirwaikar.
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.