Nippon India ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India ETF Nifty 50 Shariah BeES is a mutual fund and SBI Equity Minimum Variance Fund is a Thematic fund. In the 3 years to 30-10-2026, Nippon India ETF Nifty 50 Shariah BeES (Direct) returned 1.7% a year and SBI Equity Minimum Variance Fund (Direct) returned 6.9% a year. Nippon India ETF Nifty 50 Shariah BeES charges 1.01% a year and SBI Equity Minimum Variance Fund 0.51% (Direct plans). Their portfolios overlap 42.5%: they hold 18 of the same securities.
Nippon India ETF Nifty 50 Shariah BeES
- 3 year return
- 1.7%
- Expense ratio
- 1.01%
- NAV
- ₹450.55
SBI Equity Minimum Variance Fund
Thematic
- 3 year return
- 6.9%
- Expense ratio
- 0.51%
- NAV
- ₹23.31
Which is better, Nippon India ETF Nifty 50 Shariah BeES or SBI Equity Minimum Variance? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Equity Minimum Variance returned more over 5 years: 8.1% a year against 0.8%.
- SBI Equity Minimum Variance returned more over 3 years: 6.9% a year against 1.7%.
- SBI Equity Minimum Variance costs less: 0.51% a year against 1.01% (Direct plans).
- SBI Equity Minimum Variance swung less over 3 years: a standard deviation of 11.6% a year against 13.5%.
- Nippon India ETF Nifty 50 Shariah BeES fell less in its worst fall since 27-03-2019: −31.0% against −33.0%.
- SBI Equity Minimum Variance is the larger fund: ₹194 Cr against ₹57 Cr.
- Their portfolios overlap 42.5%: 18 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 ETF Nifty 50 Shariah BeES | SBI Equity Minimum Variance Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | SBI Mutual Fund |
| Category | Not available | Thematic |
| AUM | ₹57 Cr (30-09-2026) | ₹194 Cr (30-09-2026) |
| NAV | ₹450.55 (Direct) | ₹23.31 (Direct) |
| Expense ratio (Direct) | 1.01% | 0.51% |
| Expense ratio (Regular) | Not available | 0.85% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty 50 TRI |
| Launch date | Not available | 19-03-2019 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Raviprakash Sharma |
| Exit load | Not available | Exit load of 0.5% if redeemed within 15 days. |
Nippon India ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance: 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 ETF Nifty 50 Shariah BeES (Direct) | +6.89% | −4.96% | −3.17% | −10.42% | +1.70% | +0.83% | -- |
| SBI Equity Minimum Variance Fund (Direct) | +0.96% | −6.84% | −3.97% | −7.93% | +6.88% | +8.10% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Nippon India ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance: Year-wise Returns
| Year | Nippon India ETF Nifty 50 Shariah BeESNippon India ETF Nifty 50 Shariah BeES | SBI Equity Minimum VarianceSBI Equity Minimum Variance |
|---|---|---|
| 2026to date | −12.54% | −8.13% |
| 2025 | −3.67% | +7.43% |
| 2024 | +9.32% | +8.40% |
| 2023 | +17.98% | +28.44% |
| 2022 | −10.01% | +6.52% |
| 2021 | +30.70% | +24.35% |
Nippon India ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance: Rolling Returns
Every holding period of both funds, against Nifty50 Shariah TRI, the benchmark of Nippon India ETF Nifty 50 Shariah BeES
Rolling returns
Every 3-year holding period, 1,135 of them, one for each trading day from 28-03-2022 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 ETF Nifty 50 Shariah BeES (Direct)
SBI Equity Minimum Variance Fund (Direct)
Nifty50 Shariah TRI
to
Aug 2022May 2020
to
May 2023Mar 2021
to
Mar 2024Dec 2021
to
Dec 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 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 ETF Nifty 50 Shariah BeES | 2.4 | 13.0 | 37.4 | 18.4 | 24.9 | 3.8 | 0.1 | 10.6% | 9.6% | −2.1% | 26.4% | 0% |
| SBI Equity Minimum Variance | 0.0 | 0.0 | 7.6 | 31.8 | 43.2 | 13.4 | 3.9 | 16.6% | 16.9% | 5.2% | 31.9% | 95% |
| Nifty50 Shariah TRI | 0.8 | 11.6 | 39.6 | 25.5 | 15.3 | 6.6 | 0.6 | 10.7% | 9.8% | −1.0% | 28.0% | -- |
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 Nifty50 Shariah 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 27-03-2019. Past returns do not promise future returns.
Nippon India ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance: 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 01-03-2019 to 30-10-2026: 92 instalments, ₹9,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India ETF Nifty 50 Shariah BeESNippon India ETF Nifty 50 Shariah BeES (Direct) | ₹9,20,000 | ₹10,86,528 | ₹1,66,528 | 4.3% |
| SBI Equity Minimum VarianceSBI Equity Minimum Variance Fund (Direct) | ₹9,20,000 | ₹13,71,147 | ₹4,51,147 | 10.2% |
Nippon India ETF Nifty 50 Shariah BeESNippon India ETF Nifty 50 Shariah BeES (Direct)
SBI Equity Minimum VarianceSBI Equity Minimum Variance 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 ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India ETF Nifty 50 Shariah BeES (Direct) | SBI Equity Minimum Variance Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.42% | −7.93% |
| Standard deviation | 14.14% | 11.73% |
| Sharpe ratio | -1.11 | -1.12 |
| Sortino ratio | -1.49 | -1.44 |
| Maximum drawdown | −20.7% (08-10-2026) | −12.9% (31-03-2026) |
| Beta | 1.00 | 0.78 |
| Alpha | −0.96% | −1.24% |
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 ETF Nifty 50 Shariah BeES (Direct) | SBI Equity Minimum Variance Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.70% | +6.88% |
| Standard deviation | 13.48% | 11.60% |
| Sharpe ratio | -0.32 | 0.07 |
| Sortino ratio | -0.46 | 0.10 |
| Maximum drawdown | −31.0% (08-10-2026) | −20.3% (04-03-2025) |
| Beta | 1.00 | 0.79 |
| Alpha | −1.16% | −0.41% |
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 ETF Nifty 50 Shariah BeES (Direct) | SBI Equity Minimum Variance Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.83% | +8.10% |
| Standard deviation | 14.15% | 11.79% |
| Sharpe ratio | -0.35 | 0.20 |
| Sortino ratio | -0.49 | 0.27 |
| Maximum drawdown | −31.0% (08-10-2026) | −20.3% (04-03-2025) |
| Beta | 1.00 | 0.77 |
| Alpha | −1.09% | +1.61% |
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 ETF Nifty 50 Shariah BeES (Direct) | SBI Equity Minimum Variance Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.80% | +11.86% |
| Standard deviation | 15.68% | 14.87% |
| Sharpe ratio | 0.22 | 0.45 |
| Sortino ratio | 0.30 | 0.62 |
| Maximum drawdown | −31.0% (08-10-2026) | −33.0% (23-03-2020) |
| Beta | -- | 0.79 |
| Alpha | -- | +2.13% |
From daily NAVs, 07-11-2016 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 ETF Nifty 50 Shariah BeES (Direct)
SBI Equity Minimum Variance Fund (Direct)
Nifty50 Shariah TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Nippon India ETF Nifty 50 Shariah BeES (Direct) | −31.0% | 27-09-2024 | 08-10-2026 | Not yet | -- | −25.1% |
| SBI Equity Minimum Variance Fund (Direct) | −33.0% | 13-02-2020 | 23-03-2020 | 06-08-2020 | 4 months | −14.4% |
| Nifty50 Shariah TRI | −29.6% | 27-09-2024 | 08-10-2026 | Not yet | -- | −23.5% |
From daily values since 27-03-2019, 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 ETF Nifty 50 Shariah BeES (Direct)
SBI Equity Minimum Variance Fund (Direct)
Nifty50 Shariah 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 ETF Nifty 50 Shariah BeES (Direct)
SBI Equity Minimum Variance Fund (Direct)
Nifty50 Shariah 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 ETF Nifty 50 Shariah BeES (Direct)
SBI Equity Minimum Variance Fund (Direct)
Nifty50 Shariah TRI
Against Nifty50 Shariah TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India ETF Nifty 50 Shariah BeES (Direct) | 98% | 102% | 0.17% |
| SBI Equity Minimum Variance Fund (Direct) | 82% | 60% | 9.81% |
From month-end values since 27-03-2019. 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 ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India ETF Nifty 50 Shariah BeES, September 2026; SBI Equity Minimum Variance Fund, September 2026
Holdings in common
- Overlap
- 42.5%
- Held by both
- 18
- Only in Nippon India ETF Nifty 50 Shariah BeES
- 0
- Only in SBI Equity Minimum Variance
- 32
| Security | % of Nippon India ETF Nifty 50 Shariah BeES | % of SBI Equity Minimum Variance |
|---|---|---|
| Sun Pharmaceutical Industries Limited | 8.12% | 8.25% |
| Hindustan Unilever Limited | 7.04% | 5.80% |
| Tech Mahindra Limited | 4.09% | 4.58% |
| Nestle India Limited | 3.97% | 7.70% |
| Cipla Limited | 3.20% | 4.82% |
| Dr. Reddy's Laboratories Limited | 3.18% | 3.55% |
| Tata Consumer Products Limited | 2.61% | 4.77% |
| Asian Paints Limited | 4.59% | 1.39% |
| Eternal Limited | 9.79% | 1.22% |
| HCL Technologies Limited | 5.47% | 1.21% |
| Tata Consultancy Services Limited | 8.84% | 1.05% |
| Hindalco Industries Limited | 5.76% | 1.05% |
| Oil & Natural Gas Corporation Limited | 3.70% | 1.02% |
| Infosys Limited | 14.83% | 1.01% |
| UltraTech Cement Limited | 5.47% | 1.01% |
| Max Healthcare Institute Limited | 2.92% | 0.88% |
| Tata Motors Passenger Vehicles Limited | 2.50% | 0.87% |
| Trent Limited | 3.68% | 0.84% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.5% means 42.5% 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 ETF Nifty 50 Shariah BeES
Every holding of this fund is also held by the other.
Largest holdings only in SBI Equity Minimum Variance Fund
| Security | % of fund |
|---|---|
| Apollo Hospitals Enterprise Ltd. | 7.98% |
| ITC Ltd. | 5.36% |
| Coal India Ltd. | 4.89% |
| Bharti Airtel Ltd. | 1.95% |
| Bajaj Auto Ltd. | 1.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India ETF Nifty 50 Shariah BeES | SBI Equity Minimum Variance |
|---|---|---|
| Equity | 99.8% | 99.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.2% | 0.8% |
Market cap of stocks
| Market cap | Nippon India ETF Nifty 50 Shariah BeES | SBI Equity Minimum Variance |
|---|---|---|
| Large Cap | 93.7% | 94.8% |
| Mid Cap | 6.1% | 4.4% |
| 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 | Nippon India ETF Nifty 50 Shariah BeES | SBI Equity Minimum Variance |
|---|---|---|
| IT - Software | 33.2% | 8.8% |
| Pharmaceuticals & Biotechnology | 14.5% | 16.6% |
| Retailing | 13.5% | 2.1% |
| Diversified FMCG | 7.0% | 11.2% |
| Healthcare Services | 2.9% | 8.9% |
| Food Products | 4.0% | 7.7% |
| Non - Ferrous Metals | 5.8% | 1.1% |
| Cement & Cement Products | 5.5% | 2.0% |
| Banks | 0.0% | 5.0% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India ETF Nifty 50 Shariah BeES | SBI Equity Minimum Variance Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.01% | 0.51% |
| Base expense ratio (Direct) | 0.82% | 0.36% |
| Total expense ratio (Regular) | Not available | 0.85% |
| Base expense ratio (Regular) | 0.00% | 0.65% |
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 Equity Minimum Variance with
Nippon India ETF Nifty 50 Shariah BeES vs SBI Equity Minimum Variance Fund: Frequently Asked Questions
What is the difference between Nippon India ETF Nifty 50 Shariah BeES and SBI Equity Minimum Variance Fund?
Nippon India ETF Nifty 50 Shariah BeES is a mutual fund, SBI Equity Minimum Variance Fund is a Thematic fund, run by Nippon India Mutual Fund and SBI Mutual Fund. Their portfolios overlap 42.5%. Nippon India ETF Nifty 50 Shariah BeES charges 1.01% a year and SBI Equity Minimum Variance Fund 0.51%.
Which has given higher returns, Nippon India ETF Nifty 50 Shariah BeES or SBI Equity Minimum Variance Fund?
Over 1 year: Nippon India ETF Nifty 50 Shariah BeES −10.42%, SBI Equity Minimum Variance Fund −7.93%. Over 3 years: Nippon India ETF Nifty 50 Shariah BeES +1.70% a year, SBI Equity Minimum Variance Fund +6.88% a year. Over 5 years: Nippon India ETF Nifty 50 Shariah BeES +0.83% a year, SBI Equity Minimum Variance Fund +8.10% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India ETF Nifty 50 Shariah BeES or SBI Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund charges less: 0.51% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India ETF Nifty 50 Shariah BeES and SBI Equity Minimum Variance Fund overlap?
42.5%. They hold 18 of the same securities, the largest shared ones being SUNPHARMA, HINDUNILVR, TECHM. From each fund's latest monthly portfolio.
Which is better for SIP, Nippon India ETF Nifty 50 Shariah BeES or SBI Equity Minimum Variance Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹5,96,220 in Nippon India ETF Nifty 50 Shariah BeES (XIRR -0.9% a year) and ₹7,04,709 in SBI Equity Minimum Variance Fund (XIRR 5.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India ETF Nifty 50 Shariah BeES and SBI Equity Minimum Variance Fund?
Yes. 42.5% 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.