Mirae Asset Nifty Financial Services ETF vs SBI Banking & Financial Services 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 SBI Banking & Financial Services Fund is a Thematic fund. In the 3 years to 30-10-2026, Mirae Asset Nifty Financial Services ETF returned 9.6% a year and SBI Banking & Financial Services Fund (Direct) returned 14.6% a year. Mirae Asset Nifty Financial Services ETF charges 0.20% a year and SBI Banking & Financial Services Fund 1.18%. Their portfolios overlap 51.8%: they hold 10 of the same securities.
Mirae Asset Nifty Financial Services ETF
ETF
- 3 year return
- 9.6%
- Expense ratio
- 0.20%
- NAV
- ₹25.73
SBI Banking & Financial Services Fund
Thematic
- 3 year return
- 14.6%
- Expense ratio
- 1.18%
- NAV
- ₹46.56
Which is better, Mirae Asset Nifty Financial Services ETF or SBI Banking & Financial Services? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Banking & Financial Services returned more over 5 years: 10.7% a year against 6.5%.
- SBI Banking & Financial Services returned more over 3 years: 14.6% a year against 9.6%.
- Mirae Asset Nifty Financial Services ETF costs less: 0.20% a year against 1.18%.
- SBI Banking & Financial Services swung less over 3 years: a standard deviation of 15.6% a year against 16.2%.
- SBI Banking & Financial Services fell less in its worst fall since 02-08-2021: −21.7% against −23.2%.
- Mirae Asset Nifty Financial Services ETF holds more in large companies: 95.2% of the fund in large caps against 62.0%.
- SBI Banking & Financial Services is the larger fund: ₹10,420 Cr against ₹369 Cr.
- Their portfolios overlap 51.8%: 10 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 | SBI Banking & Financial Services Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | SBI Mutual Fund |
| Category | ETF | Thematic |
| AUM | ₹369 Cr (30-09-2026) | ₹10,420 Cr (30-09-2026) |
| NAV | ₹25.73 | ₹46.56 (Direct) |
| Expense ratio (Direct) | Not available | 1.18% |
| Expense ratio (Regular) | Not available | 2.16% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty Financial Services TRI | Not available |
| Launch date | 30-07-2021 | Not available |
| Minimum investment | On exchange ( in multiple of 1 units), Directly with AMC (in multiple of 3,00,000 units) | Not available |
| Lock in | None | Not available |
| Fund managers | Ekta Gala, amp, Ritesh Patel | Not available |
| Exit load | NIL | Not available |
Mirae Asset Nifty Financial Services ETF vs SBI Banking & Financial Services: 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% | -- |
| SBI Banking & Financial Services Fund (Direct) | −0.37% | −5.33% | −3.20% | −6.73% | +14.59% | +10.68% | +14.28% |
| 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.
Mirae Asset Nifty Financial Services ETF vs SBI Banking & Financial Services: Year-wise Returns
| Year | Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF | SBI Banking & Financial ServicesSBI Banking & Financial Services | Nifty Financial Services TRI |
|---|---|---|---|
| 2026to date | −9.79% | −9.41% | −9.69% |
| 2025 | +18.40% | +21.66% | +18.60% |
| 2024 | +10.31% | +20.90% | +10.52% |
| 2023 | +14.26% | +19.95% | +14.31% |
| 2022 | +10.34% | +14.87% | +10.47% |
| 2021 | -- | +13.46% | +14.55% |
Mirae Asset Nifty Financial Services ETF vs SBI Banking & Financial Services: Rolling Returns
Every holding period of both funds, against Nifty Financial Services TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 555 of them, one for each trading day from 02-08-2024 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
SBI Banking & Financial Services Fund (Direct)
Nifty Financial Services TRI
to
Oct 2024Feb 2022
to
Feb 2025Jul 2022
to
Jul 2025Nov 2022
to
Nov 2025Apr 2023
to
Apr 2026Aug 2023
to
Aug 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 | 19.8 | 55.0 | 21.1 | 4.1 | 0.0 | 13.0% | 12.6% | 7.3% | 21.8% | 1% |
| SBI Banking & Financial Services | 0.0 | 0.0 | 0.0 | 9.8 | 50.3 | 36.4 | 3.6 | 19.0% | 18.8% | 12.8% | 27.1% | 100% |
| Nifty Financial Services TRI | 0.0 | 0.0 | 17.8 | 55.9 | 22.0 | 4.3 | 0.0 | 13.1% | 12.7% | 7.4% | 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 02-08-2021. Past returns do not promise future returns.
Mirae Asset Nifty Financial Services ETF vs SBI Banking & Financial Services: 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 02-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF | ₹6,30,000 | ₹7,54,506 | ₹1,24,506 | 6.8% |
| SBI Banking & Financial ServicesSBI Banking & Financial Services Fund (Direct) | ₹6,30,000 | ₹8,48,450 | ₹2,18,450 | 11.3% |
Mirae Asset Nifty Financial Services ETFMirae Asset Nifty Financial Services ETF
SBI Banking & Financial ServicesSBI Banking & Financial Services 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 SBI Banking & Financial Services: 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 | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.05% | −6.73% |
| Standard deviation | 17.61% | 16.66% |
| Sharpe ratio | -0.81 | -0.72 |
| Sortino ratio | -1.12 | -0.98 |
| Maximum drawdown | −17.3% (30-03-2026) | −16.1% (31-03-2026) |
| Beta | 1.00 | 0.92 |
| Alpha | −0.18% | +1.01% |
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 | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.59% | +14.59% |
| Standard deviation | 16.22% | 15.62% |
| Sharpe ratio | 0.22 | 0.55 |
| Sortino ratio | 0.31 | 0.76 |
| Maximum drawdown | −17.3% (30-03-2026) | −16.1% (31-03-2026) |
| Beta | 1.00 | 0.92 |
| Alpha | −0.17% | +5.13% |
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 | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.50% | +10.68% |
| Standard deviation | 16.68% | 16.05% |
| Sharpe ratio | 0.04 | 0.30 |
| Sortino ratio | 0.06 | 0.42 |
| Maximum drawdown | −21.4% (16-06-2022) | −19.9% (07-03-2022) |
| Beta | 1.00 | 0.91 |
| Alpha | −0.14% | +4.12% |
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 | Mirae Asset Nifty Financial Services ETF | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.81% | +13.88% |
| Standard deviation | 16.60% | 19.33% |
| Sharpe ratio | 0.19 | 0.43 |
| Sortino ratio | 0.26 | 0.58 |
| Maximum drawdown | −23.2% (16-06-2022) | −43.8% (23-03-2020) |
| Beta | 1.00 | 0.90 |
| Alpha | −0.13% | +3.51% |
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
SBI Banking & Financial Services 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 | −23.2% | 26-10-2021 | 16-06-2022 | 15-05-2023 | 11 months | −12.5% |
| SBI Banking & Financial Services Fund (Direct) | −21.7% | 26-10-2021 | 07-03-2022 | 05-12-2022 | 9 months | −11.8% |
| Nifty Financial Services TRI | −23.1% | 26-10-2021 | 16-06-2022 | 04-05-2023 | 11 months | −12.4% |
From daily values since 02-08-2021, 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
SBI Banking & Financial Services 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
SBI Banking & Financial Services Fund (Direct)
Nifty Financial Services 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.
Mirae Asset Nifty Financial Services ETF
SBI Banking & Financial Services 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% |
| SBI Banking & Financial Services Fund (Direct) | 104% | 83% | 5.47% |
From month-end values since 02-08-2021. 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 SBI Banking & Financial Services: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Nifty Financial Services ETF, September 2026; SBI Banking & Financial Services Fund, September 2026
Holdings in common
- Overlap
- 51.8%
- Held by both
- 10
- Only in Mirae Asset Nifty Financial Services ETF
- 10
- Only in SBI Banking & Financial Services
- 29
| Security | % of Mirae Asset Nifty Financial Services ETF | % of SBI Banking & Financial Services |
|---|---|---|
| HDFC Bank Ltd. | 18.64% | 13.04% |
| ICICI Bank Ltd. | 14.20% | 12.77% |
| Kotak Mahindra Bank Ltd. | 10.11% | 10.19% |
| Bajaj Finance Ltd. | 8.62% | 6.85% |
| Axis Bank Ltd. | 10.18% | 2.82% |
| Cholamandalam Investment & Finance Co. Ltd. | 2.31% | 2.18% |
| HDFC Life Insurance Company Ltd. | 1.85% | 4.66% |
| Muthoot Finance Ltd. | 0.98% | 2.87% |
| BSE Ltd. | 4.16% | 0.59% |
| SBI Cards & Payment Services Ltd. | 0.57% | 0.86% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.8% means 51.8% 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 Nifty Financial Services ETF
| Security | % of fund |
|---|---|
| State Bank of India | 9.94% |
| Shriram Finance Ltd. | 4.53% |
| Bajaj Finserv Ltd. | 3.31% |
| SBI Life Insurance Co. Ltd. | 2.51% |
| Jio Financial Services Ltd. | 2.34% |
Largest holdings only in SBI Banking & Financial Services Fund
| Security | % of fund |
|---|---|
| One 97 Communications Ltd. | 3.46% |
| Bank of Baroda | 2.96% |
| Manappuram Finance Ltd. | 2.48% |
| The South Indian Bank Ltd. | 2.22% |
| Cholamandalam Financial Holdings Ltd. | 1.97% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Nifty Financial Services ETF | SBI Banking & Financial Services |
|---|---|---|
| Equity | 100.0% | 92.6% |
| Debt | 0.0% | 0.1% |
| Cash and others | -0.0% | 7.3% |
Market cap of stocks
| Market cap | Mirae Asset Nifty Financial Services ETF | SBI Banking & Financial Services |
|---|---|---|
| Large Cap | 95.2% | 62.0% |
| Mid Cap | 4.2% | 12.5% |
| Small Cap | 0.5% | 16.6% |
| Not on AMFI's list | 0.0% | 1.4% |
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 | SBI Banking & Financial Services |
|---|---|---|
| Banks | 63.1% | 49.3% |
| Finance | 26.0% | 25.0% |
| Insurance | 6.8% | 10.0% |
| Capital Markets | 4.2% | 4.9% |
| Financial Technology (Fintech) | 0.0% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Nifty Financial Services ETF vs SBI Banking & Financial Services: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Nifty Financial Services ETF | SBI Banking & Financial Services Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.18% |
| Base expense ratio (Direct) | 0.00% | 0.65% |
| Total expense ratio (Regular) | Not available | 2.16% |
| Base expense ratio (Regular) | 0.11% | 1.49% |
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.
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Mirae Asset Nifty Financial Services ETF vs SBI Banking & Financial Services Fund: Frequently Asked Questions
What is the difference between Mirae Asset Nifty Financial Services ETF and SBI Banking & Financial Services Fund?
Mirae Asset Nifty Financial Services ETF is an ETF fund, SBI Banking & Financial Services Fund is a Thematic fund, run by Mirae Asset Mutual Fund and SBI Mutual Fund. Their portfolios overlap 51.8%. Mirae Asset Nifty Financial Services ETF charges 0.20% a year and SBI Banking & Financial Services Fund 1.18%.
Which has given higher returns, Mirae Asset Nifty Financial Services ETF or SBI Banking & Financial Services Fund?
Over 1 year: Mirae Asset Nifty Financial Services ETF −9.05%, SBI Banking & Financial Services Fund −6.73%. Over 3 years: Mirae Asset Nifty Financial Services ETF +9.59% a year, SBI Banking & Financial Services Fund +14.59% a year. Over 5 years: Mirae Asset Nifty Financial Services ETF +6.50% a year, SBI Banking & Financial Services Fund +10.68% 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 SBI Banking & Financial Services Fund?
Mirae Asset Nifty Financial Services ETF charges less: 0.20% a year against 1.18%. These are the total expense ratios reported to AMFI.
How much do Mirae Asset Nifty Financial Services ETF and SBI Banking & Financial Services Fund overlap?
51.8%. They hold 10 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Mirae Asset Nifty Financial Services ETF or SBI Banking & Financial Services Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,24,663 in Mirae Asset Nifty Financial Services ETF (XIRR 6.7% a year) and ₹8,12,808 in SBI Banking & Financial Services Fund (XIRR 11.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Nifty Financial Services ETF and SBI Banking & Financial Services Fund?
Yes. 51.8% 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.