Nippon India Liquid Fund vs SBI Liquid Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Liquid Fund and SBI Liquid Fund are both Liquid funds. In the 3 years to 30-10-2026, Nippon India Liquid Fund (Direct) returned 6.9% a year and SBI Liquid Fund (Direct) returned 6.9% a year. Nippon India Liquid Fund charges 0.20% a year and SBI Liquid Fund 0.20% (Direct plans). Their portfolios overlap 10.6%: they hold 19 of the same securities.
Nippon India Liquid Fund
Liquid
- 3 year return
- 6.9%
- Expense ratio
- 0.20%
- NAV
- ₹7,007.02
Which is better, Nippon India Liquid or SBI Liquid? 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 Liquid returned more over 5 years: 6.4% a year against 6.4%.
- Nippon India Liquid returned more over 3 years: 6.9% a year against 6.9%.
- SBI Liquid swung less over 3 years: a standard deviation of 0.1% a year against 0.1%.
- SBI Liquid fell less in its worst fall since 01-01-2013: −0.2% against −0.2%.
- SBI Liquid is the larger fund: ₹77,481 Cr against ₹40,490 Cr.
- Their portfolios overlap 10.6%: 19 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 Liquid Fund | SBI Liquid Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | SBI Mutual Fund |
| Category | Liquid | Liquid |
| AUM | ₹40,490 Cr (30-09-2026) | ₹77,481 Cr (30-09-2026) |
| NAV | ₹7,007.02 (Direct) | ₹4,473.16 (Direct) |
| Expense ratio (Direct) | 0.20% | 0.20% |
| Expense ratio (Regular) | 0.38% | 0.32% |
| Riskometer | Moderate | Not available |
| Benchmark | NIFTY Liquid Index A-I | Not available |
| Launch date | 09-12-2003 | Not available |
| Minimum investment | Daily IDCW Plan - ?10000 & in multiples of ?1 thereafter Weekly IDCW Plan - ?5000 & in multiples of ?1 thereafter Other Plans and Plans - ?1000 and in multiples of ?1 thereafter | Not available |
| Lock in | None | Not available |
| Fund managers | Vikash Agarwal | Not available |
| Exit load | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. | Not available |
Nippon India Liquid vs SBI Liquid: 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 Liquid Fund (Direct) | +0.45% | +1.52% | +3.20% | +6.50% | +6.93% | +6.44% | +6.15% |
| SBI Liquid Fund (Direct) | +0.46% | +1.51% | +3.19% | +6.45% | +6.86% | +6.38% | +6.06% |
| Liquid average | +0.44% | +1.46% | +3.06% | +6.23% | +6.66% | +6.18% | +5.85% |
Category average: the average of the 44 Liquid funds, same plan type.
Nippon India Liquid vs SBI Liquid: Year-wise Returns
| Year | Nippon IndiaNippon India Liquid | SBISBI Liquid |
|---|---|---|
| 2026to date | +5.44% | +5.40% |
| 2025 | +6.63% | +6.53% |
| 2024 | +7.46% | +7.38% |
| 2023 | +7.11% | +7.07% |
| 2022 | +4.92% | +4.87% |
| 2021 | +3.37% | +3.37% |
Nippon India Liquid vs SBI Liquid: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 3,859 of them, one for each trading day from 01-01-2016 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 Liquid Fund (Direct)
SBI Liquid Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nippon India Liquid | 0.0 | 19.3 | 80.7 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 7.0% | 4.1% | 9.0% |
| SBI Liquid | 0.0 | 19.7 | 80.3 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.9% | 4.1% | 8.9% |
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. Every fund is measured over the days all of them have, from 01-01-2013. Past returns do not promise future returns.
Nippon India Liquid vs SBI Liquid: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India LiquidNippon India Liquid Fund (Direct) | ₹16,60,000 | ₹26,27,615 | ₹9,67,615 | 6.4% |
| SBI LiquidSBI Liquid Fund (Direct) | ₹16,60,000 | ₹26,11,892 | ₹9,51,892 | 6.3% |
Nippon India LiquidNippon India Liquid Fund (Direct)
SBI LiquidSBI Liquid 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 Liquid vs SBI Liquid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India Liquid Fund (Direct) | SBI Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.50% | +6.45% |
| Standard deviation | 0.20% | 0.19% |
| Sharpe ratio | 6.44 | 6.21 |
| Sortino ratio | 18.44 | 19.91 |
| Maximum drawdown | −0.0% (22-10-2026) | −0.0% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Liquid Fund (Direct) | SBI Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.93% | +6.86% |
| Standard deviation | 0.15% | 0.14% |
| Sharpe ratio | 6.13 | 5.80 |
| Sortino ratio | 17.64 | 17.65 |
| Maximum drawdown | −0.0% (22-10-2026) | −0.0% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Liquid Fund (Direct) | SBI Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.44% | +6.38% |
| Standard deviation | 0.14% | 0.14% |
| Sharpe ratio | 4.49 | 4.21 |
| Sortino ratio | 9.55 | 9.14 |
| Maximum drawdown | −0.1% (05-05-2022) | −0.0% (05-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2021 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 Liquid Fund (Direct) | SBI Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.86% | +6.78% |
| Standard deviation | 0.23% | 0.16% |
| Sharpe ratio | 3.62 | 4.63 |
| Sortino ratio | 6.94 | 8.15 |
| Maximum drawdown | −0.2% (16-07-2013) | −0.2% (16-07-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-01-2013 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 Liquid Fund (Direct)
SBI Liquid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Nippon India Liquid Fund (Direct) | −0.2% | 15-07-2013 | 16-07-2013 | 29-07-2013 | 13 days | 0.0% |
| SBI Liquid Fund (Direct) | −0.2% | 15-07-2013 | 16-07-2013 | 22-07-2013 | 6 days | 0.0% |
From daily values since 01-01-2013, 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 Liquid Fund (Direct)
SBI Liquid Fund (Direct)
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 Liquid Fund (Direct)
SBI Liquid Fund (Direct)
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 Liquid Fund (Direct)
SBI Liquid Fund (Direct)
Nippon India Liquid vs SBI Liquid: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Liquid Fund, September 2026; SBI Liquid Fund, September 2026
Holdings in common
- Overlap
- 10.6%
- Held by both
- 19
- Only in Nippon India Liquid
- 148
- Only in SBI Liquid
- 102
| Security | % of Nippon India Liquid | % of SBI Liquid |
|---|---|---|
| Union Bank of India | 2.03% | 2.57% |
| HDFC Bank Limited | 2.09% | 1.80% |
| Bank of India | 1.22% | 1.91% |
| National Bank For Agriculture and Rural Development | 1.23% | 0.64% |
| Reliance Industries Limited | 0.61% | 1.27% |
| Central Bank of India | 0.61% | 1.27% |
| Reliance Retail Ventures Limited | 0.61% | 1.28% |
| Titan Company Limited | 1.22% | 0.57% |
| Small Industries Dev Bank of India | 1.22% | 0.51% |
| 91 Days Tbill | 0.49% | 2.25% |
| LIC Housing Finance Limited | 0.30% | 0.64% |
| Reliance Industries Limited | 0.61% | 0.25% |
| Motilal Oswal Financial Services Limited | 0.25% | 0.64% |
| Corporate Debt Market Development Fund Class A2 | 0.25% | 0.26% |
| Small Industries Dev Bank of India | 0.18% | 0.64% |
| 91 Days Tbill | 0.12% | 3.47% |
| Axis Bank Limited | 1.22% | 0.10% |
| National Bank For Agriculture and Rural Development | 1.23% | 0.06% |
| Bank of Baroda | 0.12% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 10.6% means 10.6% 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 Liquid Fund
| Security | % of fund |
|---|---|
| Canara Bank | 3.68% |
| HDFC Bank Limited | 3.05% |
| 91 Days Tbill | 2.88% |
| Small Industries Dev Bank of India | 2.44% |
| National Bank For Agriculture and Rural Development | 1.85% |
Largest holdings only in SBI Liquid Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 3.20% |
| Punjab National Bank | 3.20% |
| National Bank for Agriculture and Rural Development | 3.14% |
| Canara Bank | 2.83% |
| 364 DAY T-BILL 12.11.26 | 2.66% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Liquid | SBI Liquid |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 103.4% | 99.0% |
| Cash and others | -3.4% | 1.0% |
Nippon India Liquid vs SBI Liquid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Liquid Fund | SBI Liquid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.20% | 0.20% |
| Base expense ratio (Direct) | 0.17% | 0.17% |
| Total expense ratio (Regular) | 0.38% | 0.32% |
| Base expense ratio (Regular) | 0.32% | 0.27% |
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 Nippon India Liquid with
Nippon India Liquid Fund vs SBI Liquid Fund: Frequently Asked Questions
What is the difference between Nippon India Liquid Fund and SBI Liquid Fund?
Both are Liquid funds, run by Nippon India Mutual Fund and SBI Mutual Fund. Their portfolios overlap 10.6%. Nippon India Liquid Fund charges 0.20% a year and SBI Liquid Fund 0.20%.
Which has given higher returns, Nippon India Liquid Fund or SBI Liquid Fund?
Over 1 year: Nippon India Liquid Fund +6.50%, SBI Liquid Fund +6.45%. Over 3 years: Nippon India Liquid Fund +6.93% a year, SBI Liquid Fund +6.86% a year. Over 5 years: Nippon India Liquid Fund +6.44% a year, SBI Liquid Fund +6.38% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India Liquid Fund or SBI Liquid Fund?
Both charge 0.20% a year.
How much do Nippon India Liquid Fund and SBI Liquid Fund overlap?
10.6%. They hold 19 of the same securities, the largest shared ones being Union Bank of India, HDFC Bank Limited, Bank of India. From each fund's latest monthly portfolio.
Which is better for SIP, Nippon India Liquid Fund or SBI Liquid Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,25,307 in Nippon India Liquid Fund (XIRR 6.8% a year) and ₹7,24,101 in SBI Liquid Fund (XIRR 6.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India Liquid Fund and SBI Liquid Fund?
Yes. 10.6% of each fund's money sits in the same holdings, so some 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.