PGIM India Equity Savings Fund vs SBI NIFTY Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
PGIM India Equity Savings Fund is an Equity Savings fund and SBI NIFTY Index Fund is an Index fund. In the 3 years to 30-10-2026, PGIM India Equity Savings Fund (Direct) returned 6.3% a year and SBI NIFTY Index Fund (Direct) returned 7.3% a year. PGIM India Equity Savings Fund charges 1.12% a year and SBI NIFTY Index Fund 0.24% (Direct plans). Their portfolios overlap 37.0%: they hold 37 of the same securities.
PGIM India Equity Savings Fund
Equity Savings
- 3 year return
- 6.3%
- Expense ratio
- 1.12%
- NAV
- ₹57.75
Which is better, PGIM India Equity Savings or SBI NIFTY Index? 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 Index returned more over 5 years: 6.4% a year against 5.8%.
- SBI NIFTY Index returned more over 3 years: 7.3% a year against 6.3%.
- SBI NIFTY Index costs less: 0.24% a year against 1.12% (Direct plans).
- PGIM India Equity Savings swung less over 3 years: a standard deviation of 2.8% a year against 13.2%.
- PGIM India Equity Savings fell less in its worst fall since 08-03-2016: −16.2% against −38.4%.
- SBI NIFTY Index holds more in large companies: 98.8% of the fund in large caps against 59.1%.
- SBI NIFTY Index is the larger fund: ₹13,190 Cr against ₹57 Cr.
- Their portfolios overlap 37.0%: 37 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 | PGIM India Equity Savings Fund | SBI NIFTY Index Fund |
|---|---|---|
| Fund house | PGIM India Mutual Fund | SBI Mutual Fund |
| Category | Equity Savings | Index |
| AUM | ₹57 Cr (30-09-2026) | ₹13,190 Cr (30-09-2026) |
| NAV | ₹57.75 (Direct) | ₹215.76 (Direct) |
| Expense ratio (Direct) | 1.12% | 0.24% |
| Expense ratio (Regular) | 1.76% | 0.44% |
| Riskometer | Moderate | Very High |
| Benchmark | Nifty Equity Savings Index | Nifty 50 TRI |
| Launch date | 05-02-2004 | 17-01-2002 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Anandha Padmanabhan Anjeneyan, Vivek Sharma, Vinay Paharia, and Mr. Puneet Pal | Raviprakash Sharma |
| Exit load | NIL | Exit load of 0.25% if redeemed within 30 days |
PGIM India Equity Savings vs SBI NIFTY Index: 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 |
|---|---|---|---|---|---|---|---|
| PGIM India Equity Savings Fund (Direct) | +0.09% | −1.08% | +1.54% | +1.77% | +6.34% | +5.84% | +7.46% |
| SBI NIFTY Index Fund (Direct) | +1.94% | −5.06% | −3.24% | −10.22% | +7.34% | +6.43% | +11.22% |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | +8.43% |
Category average: the average of the 23 Equity Savings funds, same plan type.
PGIM India Equity Savings vs SBI NIFTY Index: Year-wise Returns
| Year | PGIM India Equity SavingsPGIM India Equity Savings | SBI NIFTY IndexSBI NIFTY Index |
|---|---|---|
| 2026to date | +0.93% | −11.09% |
| 2025 | +6.88% | +11.58% |
| 2024 | +8.15% | +9.80% |
| 2023 | +8.96% | +21.04% |
| 2022 | +4.05% | +5.43% |
| 2021 | +13.78% | +25.10% |
PGIM India Equity Savings vs SBI NIFTY Index: Rolling Returns
Every holding period of both funds, against Nifty 50 TRI, the benchmark of SBI NIFTY Index Fund
Rolling returns
Every 3-year holding period, 1,884 of them, one for each trading day from 08-03-2019 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.
PGIM India Equity Savings Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 50 TRI
to
Oct 2019Feb 2018
to
Feb 2021May 2019
to
May 2022Sept 2020
to
Sept 2023Dec 2021
to
Dec 2024Mar 2023
to
Mar 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PGIM India Equity Savings | 0.0 | 5.1 | 80.6 | 14.2 | 0.0 | 0.0 | 0.0 | 8.1% | 8.1% | 1.4% | 14.5% | 6% |
| SBI NIFTY Index | 1.3 | 4.6 | 13.3 | 43.7 | 28.5 | 6.2 | 2.3 | 13.6% | 14.0% | −4.9% | 31.8% | 0% |
| Nifty 50 TRI | 1.0 | 4.0 | 12.8 | 39.1 | 33.7 | 6.8 | 2.6 | 14.0% | 14.5% | −4.5% | 32.4% | -- |
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 50 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 08-03-2016. Past returns do not promise future returns.
PGIM India Equity Savings vs SBI NIFTY Index: 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 08-03-2016 to 30-10-2026: 128 instalments, ₹12,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| PGIM India Equity SavingsPGIM India Equity Savings Fund (Direct) | ₹12,80,000 | ₹19,00,354 | ₹6,20,354 | 7.2% |
| SBI NIFTY IndexSBI NIFTY Index Fund (Direct) | ₹12,80,000 | ₹22,62,683 | ₹9,82,683 | 10.3% |
PGIM India Equity SavingsPGIM India Equity Savings Fund (Direct)
SBI NIFTY IndexSBI NIFTY Index 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.
PGIM India Equity Savings vs SBI NIFTY Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | PGIM India Equity Savings Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.77% | −10.22% |
| Standard deviation | 3.54% | 13.62% |
| Sharpe ratio | -0.98 | -1.14 |
| Sortino ratio | -1.30 | -1.52 |
| Maximum drawdown | −3.1% (30-03-2026) | −15.1% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.23% |
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 | PGIM India Equity Savings Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.34% | +7.34% |
| Standard deviation | 2.77% | 13.21% |
| Sharpe ratio | 0.11 | 0.10 |
| Sortino ratio | 0.15 | 0.14 |
| Maximum drawdown | −3.1% (30-03-2026) | −15.5% (04-03-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.29% |
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 | PGIM India Equity Savings Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.84% | +6.43% |
| Standard deviation | 2.64% | 13.69% |
| Sharpe ratio | 0.02 | 0.05 |
| Sortino ratio | 0.02 | 0.06 |
| Maximum drawdown | −3.1% (30-03-2026) | −15.9% (17-06-2022) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.27% |
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 | PGIM India Equity Savings Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.76% | +10.95% |
| Standard deviation | 4.79% | 15.84% |
| Sharpe ratio | 0.48 | 0.31 |
| Sortino ratio | 0.64 | 0.42 |
| Maximum drawdown | −16.2% (23-03-2020) | −38.4% (23-03-2020) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.62% |
From daily NAVs, 08-03-2016 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.
PGIM India Equity Savings Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| PGIM India Equity Savings Fund (Direct) | −16.2% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −1.9% |
| SBI NIFTY Index Fund (Direct) | −38.4% | 14-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −11.8% |
| Nifty 50 TRI | −38.3% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −11.6% |
From daily values since 08-03-2016, 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.
PGIM India Equity Savings Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 50 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.
PGIM India Equity Savings Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 50 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.
PGIM India Equity Savings Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 50 TRI
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| PGIM India Equity Savings Fund (Direct) | 37% | 17% | 11.29% |
| SBI NIFTY Index Fund (Direct) | 99% | 101% | 0.15% |
From month-end values since 08-03-2016. 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.
PGIM India Equity Savings vs SBI NIFTY Index: Portfolio Overlap
From each fund's latest monthly portfolio: PGIM India Equity Savings Fund, September 2026; SBI NIFTY Index Fund, September 2026
Holdings in common
- Overlap
- 37.0%
- Held by both
- 37
- Only in PGIM India Equity Savings
- 22
- Only in SBI NIFTY Index
- 13
| Security | % of PGIM India Equity Savings | % of SBI NIFTY Index |
|---|---|---|
| Reliance Industries Ltd. | 6.15% | 7.60% |
| HDFC Bank Ltd. | 6.09% | 10.40% |
| Kotak Mahindra Bank Ltd. | 3.11% | 2.94% |
| Bajaj Finance Ltd. | 5.56% | 2.51% |
| Axis Bank Ltd. | 2.43% | 3.37% |
| ICICI Bank Ltd. | 1.90% | 9.07% |
| Titan Company Ltd. | 5.79% | 1.81% |
| Tata Steel Ltd. | 7.83% | 1.46% |
| Adani Ports & Special Economic Zone Ltd. | 6.35% | 1.35% |
| Bharti Airtel Ltd. | 1.14% | 5.12% |
| State Bank of India | 0.93% | 3.80% |
| Larsen & Toubro Ltd. | 0.83% | 4.21% |
| Infosys Ltd. | 0.68% | 3.36% |
| Hindustan Unilever Ltd. | 0.60% | 1.60% |
| Mahindra & Mahindra Ltd. | 0.48% | 2.52% |
| Tata Consultancy Services Ltd. | 0.46% | 2.00% |
| Eternal Ltd. | 0.43% | 2.22% |
| Max Healthcare Institute Ltd. | 0.40% | 0.66% |
| Sun Pharmaceutical Industries Ltd. | 0.39% | 1.84% |
| NTPC Ltd. | 0.31% | 1.47% |
| Bharat Electronics Ltd. | 0.30% | 1.33% |
| InterGlobe Aviation Ltd. | 0.27% | 1.08% |
| Nestle India Ltd. | 0.27% | 0.90% |
| ITC Ltd. | 0.27% | 2.43% |
| JSW Steel Ltd. | 0.27% | 1.16% |
| Shriram Finance Ltd. | 0.26% | 1.32% |
| Ultratech Cement Ltd. | 0.24% | 1.24% |
| Maruti Suzuki India Ltd. | 0.24% | 1.49% |
| Tata Consumer Products Ltd. | 0.23% | 0.59% |
| Tech Mahindra Ltd. | 0.23% | 0.93% |
| Power Grid Corporation of India Ltd. | 0.21% | 1.13% |
| Eicher Motors Ltd. | 0.19% | 0.94% |
| Hindalco Industries Ltd. | 0.19% | 1.31% |
| Asian Paints Ltd. | 0.19% | 1.04% |
| HDFC Life Insurance Company Ltd. | 0.14% | 0.54% |
| SBI Life Insurance Company Ltd. | 0.12% | 0.73% |
| Cipla Ltd. | 0.06% | 0.73% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.0% means 37.0% 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 PGIM India Equity Savings Fund
| Security | % of fund |
|---|---|
| 7.1% Government of India | 8.83% |
| Brookfield India Real Estate Trust | 4.97% |
| IndiGrid Infrastructure Trust | 4.83% |
| NMDC Ltd. | 4.39% |
| 8.87% Export Import Bank of India | 3.65% |
Largest holdings only in SBI NIFTY Index Fund
| Security | % of fund |
|---|---|
| HCL Technologies Ltd. | 1.24% |
| BSE Ltd. | 1.21% |
| Bajaj Auto Ltd. | 1.14% |
| Grasim Industries Ltd. | 1.11% |
| Coal India Ltd. | 0.97% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | PGIM India Equity Savings | SBI NIFTY Index |
|---|---|---|
| Equity | 64.8% | 100.2% |
| Debt | 16.0% | 0.0% |
| Cash and others | 19.2% | -0.2% |
Market cap of stocks
| Market cap | PGIM India Equity Savings | SBI NIFTY Index |
|---|---|---|
| Large Cap | 59.1% | 98.8% |
| Mid Cap | 5.4% | 1.4% |
| Small Cap | 0.0% | 0.0% |
| Not on AMFI's list | 0.2% | 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 | PGIM India Equity Savings | SBI NIFTY Index |
|---|---|---|
| Banks | 14.5% | 29.6% |
| Ferrous Metals | 8.1% | 2.6% |
| Petroleum Products | 6.2% | 7.6% |
| IT - Software | 1.5% | 7.5% |
| Automobiles | 1.2% | 6.7% |
| Transport Infrastructure | 6.3% | 1.4% |
| Consumer Durables | 6.1% | 2.9% |
| Finance | 6.0% | 5.5% |
| Telecom - Services | 1.1% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
PGIM India Equity Savings vs SBI NIFTY Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | PGIM India Equity Savings Fund | SBI NIFTY Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.12% | 0.24% |
| Base expense ratio (Direct) | 0.57% | 0.16% |
| Total expense ratio (Regular) | 1.76% | 0.44% |
| Base expense ratio (Regular) | 1.11% | 0.33% |
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
PGIM India Equity Savings Fund vs SBI NIFTY Index Fund: Frequently Asked Questions
What is the difference between PGIM India Equity Savings Fund and SBI NIFTY Index Fund?
PGIM India Equity Savings Fund is an Equity Savings fund, SBI NIFTY Index Fund is an Index fund, run by PGIM India Mutual Fund and SBI Mutual Fund. Their portfolios overlap 37.0%. PGIM India Equity Savings Fund charges 1.12% a year and SBI NIFTY Index Fund 0.24%.
Which has given higher returns, PGIM India Equity Savings Fund or SBI NIFTY Index Fund?
Over 1 year: PGIM India Equity Savings Fund +1.77%, SBI NIFTY Index Fund −10.22%. Over 3 years: PGIM India Equity Savings Fund +6.34% a year, SBI NIFTY Index Fund +7.34% a year. Over 5 years: PGIM India Equity Savings Fund +5.84% a year, SBI NIFTY Index Fund +6.43% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, PGIM India Equity Savings Fund or SBI NIFTY Index Fund?
SBI NIFTY Index Fund charges less: 0.24% a year against 1.12%. These are the Direct plans' total expense ratios reported to AMFI.
How much do PGIM India Equity Savings Fund and SBI NIFTY Index Fund overlap?
37.0%. They hold 37 of the same securities, the largest shared ones being RELIANCE, HDFCBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, PGIM India Equity Savings Fund or SBI NIFTY Index Fund?
On SEBI's riskometer, PGIM India Equity Savings Fund is rated Moderate and SBI NIFTY Index Fund Very High. Over 3 years, the standard deviation of daily returns was 2.77% and 13.21% a year.
Which is better for SIP, PGIM India Equity Savings Fund or SBI NIFTY Index Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,05,128 in PGIM India Equity Savings Fund (XIRR 5.7% a year) and ₹6,92,459 in SBI NIFTY Index Fund (XIRR 4.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both PGIM India Equity Savings Fund and SBI NIFTY Index Fund?
Yes. 37.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages PGIM India Equity Savings Fund and SBI NIFTY Index Fund?
PGIM India Equity Savings Fund: Anandha Padmanabhan Anjeneyan, Vivek Sharma, Vinay Paharia, and Mr. Puneet Pal. SBI NIFTY Index Fund: Raviprakash Sharma.
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.