PGIM India Gilt Fund vs SBI Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
PGIM India Gilt Fund and SBI Gilt Fund are both Gilt funds. In the 3 years to 30-10-2026, PGIM India Gilt Fund (Direct) returned 5.9% a year and SBI Gilt Fund (Direct) returned 6.5% a year. PGIM India Gilt Fund charges 0.53% a year and SBI Gilt Fund 0.49% (Direct plans). Their portfolios overlap 36.0%: they hold 4 of the same securities.
Which is better, PGIM India Gilt or SBI Gilt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Gilt returned more over 5 years: 6.2% a year against 5.3%.
- SBI Gilt returned more over 3 years: 6.5% a year against 5.9%.
- SBI Gilt costs less: 0.49% a year against 0.53% (Direct plans).
- SBI Gilt swung less over 3 years: a standard deviation of 2.6% a year against 2.9%.
- PGIM India Gilt fell less in its worst fall since 08-03-2016: −3.2% against −3.5%.
- SBI Gilt is the larger fund: ₹8,067 Cr against ₹85 Cr.
- Their portfolios overlap 36.0%: 4 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 Gilt Fund | SBI Gilt Fund |
|---|---|---|
| Fund house | PGIM India Mutual Fund | SBI Mutual Fund |
| Category | Gilt | Gilt |
| AUM | ₹85 Cr (30-09-2026) | ₹8,067 Cr (30-09-2026) |
| NAV | ₹33.17 (Direct) | ₹72.58 (Direct) |
| Expense ratio (Direct) | 0.53% | 0.49% |
| Expense ratio (Regular) | 1.42% | 0.99% |
| Riskometer | Moderate | Not available |
| Benchmark | CRISIL Dynamic Gilt Index | Not available |
| Launch date | 27-10-2008 | Not available |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Puneet Pal, and Mr. Akhil Dhar | Not available |
| Exit load | NIL | Not available |
PGIM India Gilt vs SBI Gilt: 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 Gilt Fund (Direct) | −0.51% | −1.39% | +1.49% | +1.14% | +5.93% | +5.32% | +6.31% |
| SBI Gilt Fund (Direct) | −0.21% | −0.39% | +2.08% | +3.28% | +6.50% | +6.20% | +7.32% |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 28 Gilt funds, same plan type.
PGIM India Gilt vs SBI Gilt: Year-wise Returns
| Year | PGIM IndiaPGIM India Gilt | SBISBI Gilt |
|---|---|---|
| 2026to date | +0.70% | +2.97% |
| 2025 | +5.04% | +5.05% |
| 2024 | +10.03% | +9.45% |
| 2023 | +7.73% | +8.13% |
| 2022 | +2.84% | +4.73% |
| 2021 | +4.07% | +3.48% |
PGIM India Gilt vs SBI Gilt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,852 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 Gilt Fund (Direct)
SBI Gilt Fund (Direct)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PGIM India Gilt | 0.0 | 7.6 | 92.4 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.2% | 4.3% | 9.9% |
| SBI Gilt | 0.0 | 0.1 | 85.5 | 14.4 | 0.0 | 0.0 | 0.0 | 8.0% | 7.7% | 4.9% | 11.3% |
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 08-03-2016. Past returns do not promise future returns.
PGIM India Gilt vs SBI Gilt: 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 GiltPGIM India Gilt Fund (Direct) | ₹12,80,000 | ₹17,81,247 | ₹5,01,247 | 6.0% |
| SBI GiltSBI Gilt Fund (Direct) | ₹12,80,000 | ₹18,71,780 | ₹5,91,780 | 6.9% |
PGIM India GiltPGIM India Gilt Fund (Direct)
SBI GiltSBI Gilt 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 Gilt vs SBI Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | PGIM India Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.14% | +3.28% |
| Standard deviation | 3.20% | 2.38% |
| Sharpe ratio | -1.28 | -0.82 |
| Sortino ratio | -1.71 | -1.13 |
| Maximum drawdown | −2.6% (02-04-2026) | −1.9% (02-04-2026) |
| 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 | PGIM India Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.93% | +6.50% |
| Standard deviation | 2.93% | 2.63% |
| Sharpe ratio | -0.03 | 0.18 |
| Sortino ratio | -0.04 | 0.25 |
| Maximum drawdown | −3.2% (02-04-2026) | −3.2% (26-08-2025) |
| 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 | PGIM India Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.32% | +6.20% |
| Standard deviation | 2.49% | 2.37% |
| Sharpe ratio | -0.19 | 0.17 |
| Sortino ratio | -0.27 | 0.24 |
| Maximum drawdown | −3.2% (02-04-2026) | −3.2% (26-08-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Gilt Fund (Direct) | SBI Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.95% | +8.60% |
| Standard deviation | 2.76% | 3.93% |
| Sharpe ratio | 0.54 | 0.65 |
| Sortino ratio | 0.78 | 0.95 |
| Maximum drawdown | −3.2% (02-04-2026) | −9.5% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Gilt Fund (Direct)
SBI Gilt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| PGIM India Gilt Fund (Direct) | −3.2% | 28-05-2025 | 02-04-2026 | 18-06-2026 | 3 months | −2.1% |
| SBI Gilt Fund (Direct) | −3.5% | 06-09-2017 | 22-02-2018 | 05-04-2018 | 42 days | −0.8% |
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 Gilt Fund (Direct)
SBI Gilt 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.
PGIM India Gilt Fund (Direct)
SBI Gilt 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.
PGIM India Gilt Fund (Direct)
SBI Gilt Fund (Direct)
PGIM India Gilt vs SBI Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: PGIM India Gilt Fund, September 2026; SBI Gilt Fund, September 2026
Holdings in common
- Overlap
- 36.0%
- Held by both
- 4
- Only in PGIM India Gilt
- 13
- Only in SBI Gilt
- 8
| Security | % of PGIM India Gilt | % of SBI Gilt |
|---|---|---|
| 6.94% Government of India | 31.24% | 44.20% |
| 91 DAYS TBILL RED 19-11-2026 | 2.92% | 6.15% |
| 91 DAYS TBILL RED 01-10-2026 | 4.20% | 1.24% |
| 91 DAYS TBILL RED 08-10-2026 | 5.88% | 0.62% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 36.0% means 36.0% 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 Gilt Fund
| Security | % of fund |
|---|---|
| 6.1% Government of India | 11.39% |
| 6.48% Government of India | 8.42% |
| 6.79% Government of India | 3.69% |
| 6.36% Government of India | 3.54% |
| 7.34% Government of India | 2.43% |
Largest holdings only in SBI Gilt Fund
| Security | % of fund |
|---|---|
| 7.71% CGL 2066 | 21.50% |
| 7.28% State Government of Andhra Pradesh 2032 | 6.61% |
| 7.43% CGL 2076 | 3.22% |
| 91 DAY T-BILL 15.10.26 | 3.09% |
| 6.90% CGL 2065 | 0.56% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | PGIM India Gilt | SBI Gilt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 79.3% | 87.5% |
| Cash and others | 20.7% | 12.5% |
PGIM India Gilt vs SBI Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | PGIM India Gilt Fund | SBI Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.53% | 0.49% |
| Base expense ratio (Direct) | 0.44% | 0.40% |
| Total expense ratio (Regular) | 1.42% | 0.99% |
| Base expense ratio (Regular) | 1.19% | 0.82% |
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 PGIM India Gilt with
PGIM India Gilt Fund vs SBI Gilt Fund: Frequently Asked Questions
What is the difference between PGIM India Gilt Fund and SBI Gilt Fund?
Both are Gilt funds, run by PGIM India Mutual Fund and SBI Mutual Fund. Their portfolios overlap 36.0%. PGIM India Gilt Fund charges 0.53% a year and SBI Gilt Fund 0.49%.
Which has given higher returns, PGIM India Gilt Fund or SBI Gilt Fund?
Over 1 year: PGIM India Gilt Fund +1.14%, SBI Gilt Fund +3.28%. Over 3 years: PGIM India Gilt Fund +5.93% a year, SBI Gilt Fund +6.50% a year. Over 5 years: PGIM India Gilt Fund +5.32% a year, SBI Gilt Fund +6.20% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, PGIM India Gilt Fund or SBI Gilt Fund?
SBI Gilt Fund charges less: 0.49% a year against 0.53%. These are the Direct plans' total expense ratios reported to AMFI.
How much do PGIM India Gilt Fund and SBI Gilt Fund overlap?
36.0%. They hold 4 of the same securities, the largest shared ones being 6.94% Government of India, 91 DAYS TBILL RED 19-11-2026, 91 DAYS TBILL RED 01-10-2026. From each fund's latest monthly portfolio.
Which is better for SIP, PGIM India Gilt Fund or SBI Gilt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,94,071 in PGIM India Gilt Fund (XIRR 5.0% a year) and ₹7,09,976 in SBI Gilt Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both PGIM India Gilt Fund and SBI Gilt Fund?
Yes. 36.0% 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.