Nippon India Banking & Financial Services Fund vs SBI Banking & Financial Services Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Banking & Financial Services Fund is a Sectoral fund and SBI Banking & Financial Services Fund is a Thematic fund. In the 3 years to 30-10-2026, Nippon India Banking & Financial Services Fund (Direct) returned 9.9% a year and SBI Banking & Financial Services Fund (Direct) returned 14.6% a year. Nippon India Banking & Financial Services Fund charges 1.11% a year and SBI Banking & Financial Services Fund 1.18% (Direct plans). Their portfolios overlap 47.6%: they hold 16 of the same securities.
Nippon India Banking & Financial Services Fund
Sectoral
- 3 year return
- 9.9%
- Expense ratio
- 1.11%
- NAV
- ₹653.74
SBI Banking & Financial Services Fund
Thematic
- 3 year return
- 14.6%
- Expense ratio
- 1.18%
- NAV
- ₹46.56
Which is better, Nippon India Banking & Financial Services 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.
- Nippon India Banking & Financial Services returned more over 5 years: 10.8% a year against 10.7%.
- SBI Banking & Financial Services returned more over 3 years: 14.6% a year against 9.9%.
- Nippon India Banking & Financial Services costs less: 1.11% a year against 1.18% (Direct plans).
- Nippon India Banking & Financial Services swung less over 3 years: a standard deviation of 15.3% a year against 15.6%.
- SBI Banking & Financial Services fell less in its worst fall since 05-03-2015: −43.8% against −50.6%.
- SBI Banking & Financial Services is the larger fund: ₹10,420 Cr against ₹7,367 Cr.
- Their portfolios overlap 47.6%: 16 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 | Nippon India Banking & Financial Services Fund | SBI Banking & Financial Services Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | SBI Mutual Fund |
| Category | Sectoral | Thematic |
| AUM | ₹7,367 Cr (30-09-2026) | ₹10,420 Cr (30-09-2026) |
| NAV | ₹653.74 (Direct) | ₹46.56 (Direct) |
| Expense ratio (Direct) | 1.11% | 1.18% |
| Expense ratio (Regular) | 1.93% | 2.16% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty Financial Services TRI | Not available |
| Launch date | 26-05-2003 | Not available |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Vinay Sharma, Bhavik Dave | Not available |
| Exit load | Exit load of 1%, if redeemed within 1 month. | Not available |
Nippon India Banking & Financial Services 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Banking & Financial Services Fund (Direct) | −2.63% | −7.11% | −4.51% | −8.11% | +9.87% | +10.82% | +12.21% |
| SBI Banking & Financial Services Fund (Direct) | −0.37% | −5.33% | −3.20% | −6.73% | +14.59% | +10.68% | +14.28% |
| Sectoral average | −1.70% | −4.49% | +2.30% | −0.58% | +15.61% | +14.51% | +14.77% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 20 Sectoral funds and the 235 Thematic funds, same plan type.
Nippon India Banking & Financial Services vs SBI Banking & Financial Services: Year-wise Returns
| Year | Nippon IndiaNippon India Banking & Financial Services | SBISBI Banking & Financial Services | Nifty Financial Services TRI |
|---|---|---|---|
| 2026to date | −9.76% | −9.41% | −9.69% |
| 2025 | +18.39% | +21.66% | +18.60% |
| 2024 | +11.25% | +20.90% | +10.52% |
| 2023 | +25.11% | +19.95% | +14.31% |
| 2022 | +21.75% | +14.87% | +10.47% |
| 2021 | +30.66% | +13.46% | +14.55% |
Nippon India Banking & Financial Services 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, 2,132 of them, one for each trading day from 05-03-2018 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.
Nippon India Banking & Financial Services Fund (Direct)
SBI Banking & Financial Services Fund (Direct)
Nifty Financial Services TRI
to
Nov 2018May 2017
to
May 2020Oct 2018
to
Oct 2021Apr 2020
to
Apr 2023Oct 2021
to
Oct 2024Feb 2023
to
Feb 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nippon India Banking & Financial Services | 9.0 | 4.2 | 11.4 | 22.1 | 29.9 | 13.1 | 10.2 | 14.6% | 15.5% | −14.2% | 42.6% | 54% |
| SBI Banking & Financial Services | 0.5 | 5.9 | 5.1 | 20.4 | 35.0 | 26.0 | 7.1 | 16.9% | 17.2% | −1.8% | 31.0% | 70% |
| Nifty Financial Services TRI | 0.5 | 5.5 | 13.1 | 39.1 | 22.1 | 15.1 | 4.6 | 14.6% | 14.1% | −2.1% | 31.8% | -- |
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 05-03-2015. Past returns do not promise future returns.
Nippon India Banking & Financial Services 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 02-03-2015 to 30-10-2026: 140 instalments, ₹14,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Banking & Financial ServicesNippon India Banking & Financial Services Fund (Direct) | ₹14,00,000 | ₹30,06,099 | ₹16,06,099 | 12.4% |
| SBI Banking & Financial ServicesSBI Banking & Financial Services Fund (Direct) | ₹14,00,000 | ₹33,96,713 | ₹19,96,713 | 14.3% |
Nippon India Banking & Financial ServicesNippon India Banking & Financial Services Fund (Direct)
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.
Nippon India Banking & Financial Services 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 | Nippon India Banking & Financial Services Fund (Direct) | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.11% | −6.73% |
| Standard deviation | 16.74% | 16.66% |
| Sharpe ratio | -0.80 | -0.72 |
| Sortino ratio | -1.09 | -0.98 |
| Maximum drawdown | −16.7% (31-03-2026) | −16.1% (31-03-2026) |
| Beta | 0.92 | 0.92 |
| Alpha | −0.32% | +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 | Nippon India Banking & Financial Services Fund (Direct) | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.87% | +14.59% |
| Standard deviation | 15.26% | 15.62% |
| Sharpe ratio | 0.25 | 0.55 |
| Sortino ratio | 0.35 | 0.76 |
| Maximum drawdown | −16.7% (31-03-2026) | −16.1% (31-03-2026) |
| Beta | 0.90 | 0.92 |
| Alpha | +0.46% | +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 | Nippon India Banking & Financial Services Fund (Direct) | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.82% | +10.68% |
| Standard deviation | 16.09% | 16.05% |
| Sharpe ratio | 0.31 | 0.30 |
| Sortino ratio | 0.43 | 0.42 |
| Maximum drawdown | −17.4% (20-06-2022) | −19.9% (07-03-2022) |
| Beta | 0.91 | 0.91 |
| Alpha | +4.26% | +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 | Nippon India Banking & Financial Services Fund (Direct) | SBI Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.85% | +13.88% |
| Standard deviation | 20.73% | 19.33% |
| Sharpe ratio | 0.33 | 0.43 |
| Sortino ratio | 0.45 | 0.58 |
| Maximum drawdown | −50.6% (22-05-2020) | −43.8% (23-03-2020) |
| Beta | 0.93 | 0.90 |
| Alpha | +0.47% | +3.51% |
From daily NAVs, 02-01-2013 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.
Nippon India Banking & Financial Services Fund (Direct)
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 |
|---|---|---|---|---|---|---|
| Nippon India Banking & Financial Services Fund (Direct) | −50.6% | 27-05-2019 | 22-05-2020 | 08-02-2021 | 9 months | −12.1% |
| SBI Banking & Financial Services Fund (Direct) | −43.8% | 20-02-2020 | 23-03-2020 | 09-12-2020 | 9 months | −11.8% |
| Nifty Financial Services TRI | −43.5% | 02-01-2020 | 23-03-2020 | 15-12-2020 | 9 months | −12.4% |
From daily values since 05-03-2015, 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.
Nippon India Banking & Financial Services Fund (Direct)
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.
Nippon India Banking & Financial Services Fund (Direct)
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.
Nippon India Banking & Financial Services Fund (Direct)
SBI Banking & Financial Services Fund (Direct)
Nifty Financial Services TRI
Against Nifty Financial Services TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India Banking & Financial Services Fund (Direct) | 104% | 103% | 7.51% |
| SBI Banking & Financial Services Fund (Direct) | 101% | 89% | 5.82% |
From month-end values since 05-03-2015. 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.
Nippon India Banking & Financial Services vs SBI Banking & Financial Services: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Banking & Financial Services Fund, September 2026; SBI Banking & Financial Services Fund, September 2026
Holdings in common
- Overlap
- 47.6%
- Held by both
- 16
- Only in Nippon India Banking & Financial Services
- 17
- Only in SBI Banking & Financial Services
- 23
| Security | % of Nippon India Banking & Financial Services | % of SBI Banking & Financial Services |
|---|---|---|
| HDFC Bank Limited | 15.76% | 13.04% |
| ICICI Bank Limited | 13.26% | 12.77% |
| Kotak Mahindra Bank Limited | 4.06% | 10.19% |
| Axis Bank Limited | 9.00% | 2.82% |
| HDFC Life Insurance Company Limited | 2.15% | 4.66% |
| Cholamandalam Financial Holdings Limited | 2.53% | 1.97% |
| ICICI Prudential Life Insurance Company Limited | 2.49% | 1.93% |
| Star Health And Allied Insurance Company Limited | 2.04% | 1.71% |
| One 97 Communications Limited | 1.67% | 3.46% |
| Aptus Value Housing Finance India Limited | 1.08% | 1.66% |
| PNB Housing Finance Limited | 2.27% | 1.07% |
| Life Insurance Corporation Of India | 2.25% | 1.06% |
| SBI Cards and Payment Services Limited | 3.36% | 0.86% |
| Aavas Financiers Limited | 0.66% | 1.01% |
| Sundaram Finance Limited | 1.22% | 0.47% |
| Multi Commodity Exchange of India Limited | 2.47% | 0.32% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.6% means 47.6% 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 Nippon India Banking & Financial Services Fund
| Security | % of fund |
|---|---|
| State Bank of India | 4.97% |
| HDFC Asset Management Company Limited | 2.99% |
| IndusInd Bank Limited | 2.65% |
| Bajaj Finserv Limited | 2.35% |
| Aye Finance Limited | 2.30% |
Largest holdings only in SBI Banking & Financial Services Fund
| Security | % of fund |
|---|---|
| Bajaj Finance Ltd. | 6.85% |
| Bank of Baroda | 2.96% |
| Muthoot Finance Ltd. | 2.87% |
| Manappuram Finance Ltd. | 2.48% |
| The South Indian Bank Ltd. | 2.22% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Banking & Financial Services | SBI Banking & Financial Services |
|---|---|---|
| Equity | 99.2% | 92.6% |
| Debt | 0.0% | 0.1% |
| Cash and others | 0.8% | 7.3% |
Market cap of stocks
| Market cap | Nippon India Banking & Financial Services | SBI Banking & Financial Services |
|---|---|---|
| Large Cap | 58.5% | 62.0% |
| Mid Cap | 22.0% | 12.5% |
| Small Cap | 18.4% | 16.6% |
| Not on AMFI's list | 0.4% | 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 | Nippon India Banking & Financial Services | SBI Banking & Financial Services |
|---|---|---|
| Banks | 55.2% | 49.3% |
| Finance | 19.9% | 25.0% |
| Insurance | 11.2% | 10.0% |
| Capital Markets | 8.9% | 4.9% |
| Financial Technology (Fintech) | 4.0% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Banking & Financial Services vs SBI Banking & Financial Services: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Banking & Financial Services Fund | SBI Banking & Financial Services Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.11% | 1.18% |
| Base expense ratio (Direct) | 0.83% | 0.65% |
| Total expense ratio (Regular) | 1.93% | 2.16% |
| Base expense ratio (Regular) | 1.54% | 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.
More comparisons
Each fund against the others of its category
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Compare SBI Banking & Financial Services with
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- SBI Banking & Financial Services vs Aditya Birla Sun Life International Equity
Nippon India Banking & Financial Services Fund vs SBI Banking & Financial Services Fund: Frequently Asked Questions
What is the difference between Nippon India Banking & Financial Services Fund and SBI Banking & Financial Services Fund?
Nippon India Banking & Financial Services Fund is a Sectoral fund, SBI Banking & Financial Services Fund is a Thematic fund, run by Nippon India Mutual Fund and SBI Mutual Fund. Their portfolios overlap 47.6%. Nippon India Banking & Financial Services Fund charges 1.11% a year and SBI Banking & Financial Services Fund 1.18%.
Which has given higher returns, Nippon India Banking & Financial Services Fund or SBI Banking & Financial Services Fund?
Over 1 year: Nippon India Banking & Financial Services Fund −8.11%, SBI Banking & Financial Services Fund −6.73%. Over 3 years: Nippon India Banking & Financial Services Fund +9.87% a year, SBI Banking & Financial Services Fund +14.59% a year. Over 5 years: Nippon India Banking & Financial Services Fund +10.82% 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, Nippon India Banking & Financial Services Fund or SBI Banking & Financial Services Fund?
Nippon India Banking & Financial Services Fund charges less: 1.11% a year against 1.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Banking & Financial Services Fund and SBI Banking & Financial Services Fund overlap?
47.6%. They hold 16 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Nippon India Banking & Financial Services Fund 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 ₹7,70,859 in Nippon India Banking & Financial Services Fund (XIRR 9.2% 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 Nippon India Banking & Financial Services Fund and SBI Banking & Financial Services Fund?
Yes. 47.6% 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.