Navi Nifty Bank Index Fund vs SBI Nifty Bank ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Navi Nifty Bank Index Fund is an Index fund and SBI Nifty Bank ETF is a mutual fund. In the 3 years to 30-10-2026, Navi Nifty Bank Index Fund (Direct) returned 8.9% a year and SBI Nifty Bank ETF (Regular) returned 8.9% a year. Navi Nifty Bank Index Fund charges 0.23% a year and SBI Nifty Bank ETF 0.22%. Their portfolios overlap 100.0%: they hold 14 of the same securities.
Navi Nifty Bank Index Fund
Index
- 3 year return
- 8.9%
- Expense ratio
- 0.23%
- NAV
- ₹14.43
Which is better, Navi Nifty Bank Index or SBI Nifty Bank ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Nifty Bank ETF returned more over 3 years: 8.9% a year against 8.9%.
- SBI Nifty Bank ETF returned more over 1 year: −5.4% against −5.4%.
- SBI Nifty Bank ETF costs less: 0.22% a year against 0.23%.
- Navi Nifty Bank Index swung less over 3 years: a standard deviation of 15.9% a year against 16.0%.
- SBI Nifty Bank ETF fell less in its worst fall since 04-02-2022: −18.4% against −18.4%.
- SBI Nifty Bank ETF is the larger fund: ₹3,515 Cr against ₹613 Cr.
- Their portfolios overlap 100.0%: 14 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 | Navi Nifty Bank Index Fund | SBI Nifty Bank ETF |
|---|---|---|
| Fund house | Navi Mutual Fund | SBI Mutual Fund |
| Category | Index | Not available |
| AUM | ₹613 Cr (30-09-2026) | ₹3,515 Cr (30-09-2026) |
| NAV | ₹14.43 (Direct) | ₹562.34 (Regular) |
| Expense ratio (Direct) | 0.23% | Not available |
| Expense ratio (Regular) | 1.11% | 0.22% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty Bank TRI | Not available |
| Launch date | 04-02-2022 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Ashutosh Shirwaikar | Not available |
| Exit load | NIL | Not available |
Navi Nifty Bank Index vs SBI Nifty Bank ETF: 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 |
|---|---|---|---|---|---|---|---|
| Navi Nifty Bank Index Fund (Direct) | +0.08% | −4.18% | +0.23% | −5.42% | +8.90% | -- | -- |
| SBI Nifty Bank ETF (Regular) | +0.08% | −4.20% | +0.21% | −5.39% | +8.92% | +7.56% | +10.98% |
Navi Nifty Bank Index vs SBI Nifty Bank ETF: Year-wise Returns
| Year | Navi Nifty Bank IndexNavi Nifty Bank Index | SBI Nifty Bank ETFSBI Nifty Bank ETF | Nifty Bank TRI |
|---|---|---|---|
| 2026to date | −7.82% | −7.81% | −7.61% |
| 2025 | +17.79% | +17.88% | +18.08% |
| 2024 | +6.01% | +6.02% | +6.26% |
| 2023 | +12.78% | +13.12% | +13.29% |
| 2022 | -- | +21.84% | +22.14% |
| 2021 | -- | +13.68% | +13.90% |
Navi Nifty Bank Index vs SBI Nifty Bank ETF: Rolling Returns
Every holding period of both funds, against Nifty Bank TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 427 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.
Navi Nifty Bank Index Fund (Direct)
SBI Nifty Bank ETF (Regular)
Nifty Bank 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% |
| SBI Nifty Bank ETF | 0.0 | 0.0 | 29.3 | 51.8 | 17.1 | 1.8 | 0.0 | 12.3% | 12.0% | 7.1% | 20.5% | 0% |
| Nifty Bank TRI | 0.0 | 0.0 | 26.5 | 54.3 | 16.4 | 2.8 | 0.0 | 12.5% | 12.2% | 7.3% | 20.7% | -- |
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 Bank 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.
Navi Nifty Bank Index vs SBI Nifty Bank ETF: 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 04-02-2022 to 30-10-2026: 57 instalments, ₹5,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Navi Nifty Bank IndexNavi Nifty Bank Index Fund (Direct) | ₹5,70,000 | ₹6,70,389 | ₹1,00,389 | 6.8% |
| SBI Nifty Bank ETFSBI Nifty Bank ETF (Regular) | ₹5,70,000 | ₹6,71,716 | ₹1,01,716 | 6.9% |
Navi Nifty Bank IndexNavi Nifty Bank Index Fund (Direct)
SBI Nifty Bank ETFSBI Nifty Bank ETF (Regular)
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.
Navi Nifty Bank Index vs SBI Nifty Bank ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Navi Nifty Bank Index Fund (Direct) | SBI Nifty Bank ETF (Regular) |
|---|---|---|
| Return (CAGR) | −5.42% | −5.39% |
| Standard deviation | 17.01% | 17.02% |
| Sharpe ratio | -0.63 | -0.62 |
| Sortino ratio | -0.87 | -0.87 |
| Maximum drawdown | −18.4% (30-03-2026) | −18.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.27% | −0.25% |
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 | Navi Nifty Bank Index Fund (Direct) | SBI Nifty Bank ETF (Regular) |
|---|---|---|
| Return (CAGR) | +8.90% | +8.92% |
| Standard deviation | 15.93% | 15.95% |
| Sharpe ratio | 0.18 | 0.18 |
| Sortino ratio | 0.25 | 0.26 |
| Maximum drawdown | −18.4% (30-03-2026) | −18.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.26% | −0.23% |
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 | Navi Nifty Bank Index Fund (Direct) | SBI Nifty Bank ETF (Regular) |
|---|---|---|
| Return (CAGR) | +8.09% | +10.16% |
| Standard deviation | 16.50% | 21.25% |
| Sharpe ratio | 0.13 | 0.21 |
| Sortino ratio | 0.18 | 0.30 |
| Maximum drawdown | −18.4% (30-03-2026) | −48.5% (23-03-2020) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.34% | −0.46% |
From daily NAVs, 04-02-2022 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.
Navi Nifty Bank Index Fund (Direct)
SBI Nifty Bank ETF (Regular)
Nifty Bank TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Navi Nifty Bank Index Fund (Direct) | −18.4% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.7% |
| SBI Nifty Bank ETF (Regular) | −18.4% | 18-02-2026 | 31-03-2026 | Not yet | -- | −10.7% |
| Nifty Bank TRI | −18.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.6% |
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.
Navi Nifty Bank Index Fund (Direct)
SBI Nifty Bank ETF (Regular)
Nifty Bank 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.
Navi Nifty Bank Index Fund (Direct)
SBI Nifty Bank ETF (Regular)
Nifty Bank TRI
Against Nifty Bank TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Navi Nifty Bank Index Fund (Direct) | 99% | 101% | 0.08% |
| SBI Nifty Bank ETF (Regular) | 99% | 100% | 0.03% |
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.
Navi Nifty Bank Index vs SBI Nifty Bank ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Navi Nifty Bank Index Fund, September 2026; SBI Nifty Bank ETF, September 2026
Holdings in common
- Overlap
- 100.0%
- Held by both
- 14
- Only in Navi Nifty Bank Index
- 0
- Only in SBI Nifty Bank ETF
- 0
| Security | % of Navi Nifty Bank Index | % of SBI Nifty Bank ETF |
|---|---|---|
| HDFC BANK LIMITED | 18.63% | 18.61% |
| ICICI BANK LIMITED | 14.19% | 14.18% |
| KOTAK MAHINDRA BANK LIMITED | 10.21% | 10.20% |
| AXIS BANK LIMITED | 10.06% | 10.06% |
| STATE BANK OF INDIA | 9.93% | 9.93% |
| THE FEDERAL BANK LIMITED | 6.57% | 6.56% |
| INDUSIND BANK LIMITED | 4.97% | 4.97% |
| AU SMALL FINANCE BANK LIMITED | 4.85% | 4.85% |
| IDFC FIRST BANK LIMITED | 4.54% | 4.54% |
| BANK OF BARODA | 3.59% | 3.59% |
| CANARA BANK | 3.37% | 3.37% |
| PUNJAB NATIONAL BANK | 3.27% | 3.27% |
| YES BANK LTD | 3.01% | 3.01% |
| UNION BANK OF INDIA | 2.86% | 2.86% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 100.0% means 100.0% 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 Navi Nifty Bank Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in SBI Nifty Bank ETF
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Navi Nifty Bank Index | SBI Nifty Bank ETF |
|---|---|---|
| Equity | 100.1% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.1% | 0.0% |
Market cap of stocks
| Market cap | Navi Nifty Bank Index | SBI Nifty Bank ETF |
|---|---|---|
| Large Cap | 76.1% | 76.1% |
| Mid Cap | 23.9% | 23.9% |
| Small Cap | 0.0% | 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 | Navi Nifty Bank Index | SBI Nifty Bank ETF |
|---|---|---|
| BANKS | 100.0% | 0.0% |
| Banks | 0.0% | 100.0% |
The six largest sectors of each fund's stocks, % of the fund.
Navi Nifty Bank Index vs SBI Nifty Bank ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Navi Nifty Bank Index Fund | SBI Nifty Bank ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.23% | Not available |
| Base expense ratio (Direct) | 0.15% | 0.00% |
| Total expense ratio (Regular) | 1.11% | 0.22% |
| Base expense ratio (Regular) | 0.90% | 0.17% |
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.
Navi Nifty Bank Index Fund vs SBI Nifty Bank ETF: Frequently Asked Questions
What is the difference between Navi Nifty Bank Index Fund and SBI Nifty Bank ETF?
Navi Nifty Bank Index Fund is an Index fund, SBI Nifty Bank ETF is a mutual fund, run by Navi Mutual Fund and SBI Mutual Fund. Their portfolios overlap 100.0%. Navi Nifty Bank Index Fund charges 0.23% a year and SBI Nifty Bank ETF 0.22%.
Which has given higher returns, Navi Nifty Bank Index Fund or SBI Nifty Bank ETF?
Over 1 year: Navi Nifty Bank Index Fund −5.42%, SBI Nifty Bank ETF −5.39%. Over 3 years: Navi Nifty Bank Index Fund +8.90% a year, SBI Nifty Bank ETF +8.92% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Navi Nifty Bank Index Fund or SBI Nifty Bank ETF?
SBI Nifty Bank ETF charges less: 0.22% a year against 0.23%. These are the total expense ratios reported to AMFI.
How much do Navi Nifty Bank Index Fund and SBI Nifty Bank ETF overlap?
100.0%. They hold 14 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Navi Nifty Bank Index Fund or SBI Nifty Bank ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,90,445 in Navi Nifty Bank Index Fund (XIRR 3.4% a year) and ₹3,90,594 in SBI Nifty Bank ETF (XIRR 3.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Navi Nifty Bank Index Fund and SBI Nifty Bank ETF?
Yes. 100.0% 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.