SBI Equity Minimum Variance Fund vs SBI Healthcare Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
SBI Equity Minimum Variance Fund is a Thematic fund and SBI Healthcare Opportunities Fund is a Thematic fund. In the 3 years to 30-10-2026, SBI Equity Minimum Variance Fund (Direct) returned 6.9% a year and SBI Healthcare Opportunities Fund (Direct) returned 24.6% a year. SBI Equity Minimum Variance Fund charges 0.51% a year and SBI Healthcare Opportunities Fund 1.01% (Direct plans). Their portfolios overlap 18.0%: they hold 4 of the same securities.
SBI Equity Minimum Variance Fund
Thematic
- 3 year return
- 6.9%
- Expense ratio
- 0.51%
- NAV
- ₹23.31
SBI Healthcare Opportunities Fund
Thematic
- 3 year return
- 24.6%
- Expense ratio
- 1.01%
- NAV
- ₹588.16
Which is better, SBI Equity Minimum Variance or SBI Healthcare Opportunities? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Healthcare Opportunities returned more over 5 years: 19.2% a year against 8.1%.
- SBI Healthcare Opportunities returned more over 3 years: 24.6% a year against 6.9%.
- 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 13.1%.
- SBI Healthcare Opportunities fell less in its worst fall since 27-03-2019: −22.7% against −33.0%.
- SBI Equity Minimum Variance holds more in large companies: 94.8% of the fund in large caps against 32.3%.
- SBI Healthcare Opportunities is the larger fund: ₹5,870 Cr against ₹194 Cr.
- Their portfolios overlap 18.0%: 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 | SBI Equity Minimum Variance Fund | SBI Healthcare Opportunities Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | SBI Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹194 Cr (30-09-2026) | ₹5,870 Cr (30-09-2026) |
| NAV | ₹23.31 (Direct) | ₹588.16 (Direct) |
| Expense ratio (Direct) | 0.51% | 1.01% |
| Expense ratio (Regular) | 0.85% | 1.99% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 50 TRI | Not available |
| Launch date | 19-03-2019 | Not available |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Raviprakash Sharma | Not available |
| Exit load | Exit load of 0.5% if redeemed within 15 days. | Not available |
SBI Equity Minimum Variance vs SBI Healthcare Opportunities: 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 |
|---|---|---|---|---|---|---|---|
| SBI Equity Minimum Variance Fund (Direct) | +0.96% | −6.84% | −3.97% | −7.93% | +6.88% | +8.10% | -- |
| SBI Healthcare Opportunities Fund (Direct) | +0.31% | −0.59% | +16.00% | +17.12% | +24.60% | +19.22% | +14.72% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
SBI Equity Minimum Variance vs SBI Healthcare Opportunities: Year-wise Returns
| Year | Equity Minimum VarianceSBI Equity Minimum Variance | Healthcare OpportunitiesSBI Healthcare Opportunities |
|---|---|---|
| 2026to date | −8.13% | +21.31% |
| 2025 | +7.43% | −2.50% |
| 2024 | +8.40% | +43.75% |
| 2023 | +28.44% | +39.72% |
| 2022 | +6.52% | −5.01% |
| 2021 | +24.35% | +21.48% |
SBI Equity Minimum Variance vs SBI Healthcare Opportunities: Rolling Returns
Every holding period of both funds, against Nifty 50 TRI, the benchmark of SBI Equity Minimum Variance Fund
Rolling returns
Every 3-year holding period, 1,140 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.
SBI Equity Minimum Variance Fund (Direct)
SBI Healthcare Opportunities Fund (Direct)
Nifty 50 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% | 78% |
| SBI Healthcare Opportunities | 0.0 | 0.0 | 0.0 | 0.0 | 22.1 | 39.6 | 38.2 | 23.4% | 24.2% | 15.2% | 31.1% | 85% |
| Nifty 50 TRI | 0.0 | 0.0 | 10.1 | 39.9 | 37.6 | 8.1 | 4.3 | 15.3% | 15.0% | 5.4% | 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 27-03-2019. Past returns do not promise future returns.
SBI Equity Minimum Variance vs SBI Healthcare Opportunities: 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 27-03-2019 to 30-10-2026: 92 instalments, ₹9,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI Equity Minimum VarianceSBI Equity Minimum Variance Fund (Direct) | ₹9,20,000 | ₹13,71,147 | ₹4,51,147 | 10.2% |
| SBI Healthcare OpportunitiesSBI Healthcare Opportunities Fund (Direct) | ₹9,20,000 | ₹22,10,526 | ₹12,90,526 | 22.3% |
SBI Equity Minimum VarianceSBI Equity Minimum Variance Fund (Direct)
SBI Healthcare OpportunitiesSBI Healthcare Opportunities 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.
SBI Equity Minimum Variance vs SBI Healthcare Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI Equity Minimum Variance Fund (Direct) | SBI Healthcare Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.93% | +17.12% |
| Standard deviation | 11.73% | 13.36% |
| Sharpe ratio | -1.12 | 0.89 |
| Sortino ratio | -1.44 | 1.33 |
| Maximum drawdown | −12.9% (31-03-2026) | −10.3% (23-10-2026) |
| Beta | 0.78 | 0.93 |
| Alpha | −1.24% | +5.25% |
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 | SBI Equity Minimum Variance Fund (Direct) | SBI Healthcare Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.88% | +24.60% |
| Standard deviation | 11.60% | 13.07% |
| Sharpe ratio | 0.07 | 1.42 |
| Sortino ratio | 0.10 | 2.03 |
| Maximum drawdown | −20.3% (04-03-2025) | −13.5% (28-02-2025) |
| Beta | 0.79 | 0.88 |
| Alpha | −0.41% | +3.61% |
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 | SBI Equity Minimum Variance Fund (Direct) | SBI Healthcare Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.10% | +19.22% |
| Standard deviation | 11.79% | 12.96% |
| Sharpe ratio | 0.20 | 1.04 |
| Sortino ratio | 0.27 | 1.48 |
| Maximum drawdown | −20.3% (04-03-2025) | −17.4% (17-06-2022) |
| Beta | 0.77 | 0.88 |
| Alpha | +1.61% | +4.81% |
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 | SBI Equity Minimum Variance Fund (Direct) | SBI Healthcare Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.86% | +17.93% |
| Standard deviation | 14.87% | 15.96% |
| Sharpe ratio | 0.45 | 0.74 |
| Sortino ratio | 0.62 | 1.05 |
| Maximum drawdown | −33.0% (23-03-2020) | −30.5% (23-03-2020) |
| Beta | 0.79 | 0.91 |
| Alpha | +2.13% | +3.97% |
From daily NAVs, 27-03-2019 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.
SBI Equity Minimum Variance Fund (Direct)
SBI Healthcare Opportunities Fund (Direct)
Nifty 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| SBI Equity Minimum Variance Fund (Direct) | −33.0% | 13-02-2020 | 23-03-2020 | 06-08-2020 | 4 months | −14.4% |
| SBI Healthcare Opportunities Fund (Direct) | −22.7% | 20-02-2020 | 23-03-2020 | 09-04-2020 | 17 days | −3.8% |
| Nifty 50 TRI | −38.3% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −11.6% |
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.
SBI Equity Minimum Variance Fund (Direct)
SBI Healthcare Opportunities 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.
SBI Equity Minimum Variance Fund (Direct)
SBI Healthcare Opportunities 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.
SBI Equity Minimum Variance Fund (Direct)
SBI Healthcare Opportunities Fund (Direct)
Nifty 50 TRI
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| SBI Equity Minimum Variance Fund (Direct) | 90% | 78% | 5.81% |
| SBI Healthcare Opportunities Fund (Direct) | 89% | 19% | 14.99% |
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.
SBI Equity Minimum Variance vs SBI Healthcare Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Equity Minimum Variance Fund, September 2026; SBI Healthcare Opportunities Fund, September 2026
Holdings in common
- Overlap
- 18.0%
- Held by both
- 4
- Only in SBI Equity Minimum Variance
- 46
- Only in SBI Healthcare Opportunities
- 32
| Security | % of SBI Equity Minimum Variance | % of SBI Healthcare Opportunities |
|---|---|---|
| Sun Pharmaceutical Industries Ltd. | 8.25% | 11.14% |
| Apollo Hospitals Enterprise Ltd. | 7.98% | 4.45% |
| Cipla Ltd. | 4.82% | 4.40% |
| Max Healthcare Institute Ltd. | 0.88% | 3.80% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.0% means 18.0% 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 SBI Equity Minimum Variance Fund
| Security | % of fund |
|---|---|
| Nestle India Ltd. | 7.70% |
| Hindustan Unilever Ltd. | 5.80% |
| ITC Ltd. | 5.36% |
| Coal India Ltd. | 4.89% |
| Tata Consumer Products Ltd. | 4.77% |
Largest holdings only in SBI Healthcare Opportunities Fund
| Security | % of fund |
|---|---|
| Divi's Laboratories Ltd. | 7.91% |
| Acutaas Chemicals Ltd. | 5.03% |
| Torrent Pharmaceuticals Ltd. | 4.42% |
| Laurus Labs Ltd. | 4.05% |
| Aurobindo Pharma Ltd. | 3.42% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI Equity Minimum Variance | SBI Healthcare Opportunities |
|---|---|---|
| Equity | 99.2% | 95.5% |
| Debt | 0.0% | 0.1% |
| Cash and others | 0.8% | 4.4% |
Market cap of stocks
| Market cap | SBI Equity Minimum Variance | SBI Healthcare Opportunities |
|---|---|---|
| Large Cap | 94.8% | 32.3% |
| Mid Cap | 4.4% | 25.7% |
| Small Cap | 0.0% | 35.4% |
| Not on AMFI's list | 0.0% | 2.2% |
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 | SBI Equity Minimum Variance | SBI Healthcare Opportunities |
|---|---|---|
| Pharmaceuticals & Biotechnology | 16.6% | 63.1% |
| Healthcare Services | 8.9% | 25.6% |
| Diversified FMCG | 11.2% | 0.0% |
| IT - Software | 8.8% | 0.0% |
| Food Products | 7.7% | 0.0% |
| Banks | 5.0% | 0.0% |
| Chemicals & Petrochemicals | 0.0% | 5.0% |
| Healthcare Equipment & Supplies | 0.0% | 1.8% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Equity Minimum Variance vs SBI Healthcare Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Equity Minimum Variance Fund | SBI Healthcare Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.51% | 1.01% |
| Base expense ratio (Direct) | 0.36% | 0.74% |
| Total expense ratio (Regular) | 0.85% | 1.99% |
| Base expense ratio (Regular) | 0.65% | 1.58% |
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
SBI Equity Minimum Variance Fund vs SBI Healthcare Opportunities Fund: Frequently Asked Questions
What is the difference between SBI Equity Minimum Variance Fund and SBI Healthcare Opportunities Fund?
SBI Equity Minimum Variance Fund is a Thematic fund, SBI Healthcare Opportunities Fund is a Thematic fund, run by SBI Mutual Fund. Their portfolios overlap 18.0%. SBI Equity Minimum Variance Fund charges 0.51% a year and SBI Healthcare Opportunities Fund 1.01%.
Which has given higher returns, SBI Equity Minimum Variance Fund or SBI Healthcare Opportunities Fund?
Over 1 year: SBI Equity Minimum Variance Fund −7.93%, SBI Healthcare Opportunities Fund +17.12%. Over 3 years: SBI Equity Minimum Variance Fund +6.88% a year, SBI Healthcare Opportunities Fund +24.60% a year. Over 5 years: SBI Equity Minimum Variance Fund +8.10% a year, SBI Healthcare Opportunities Fund +19.22% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, SBI Equity Minimum Variance Fund or SBI Healthcare Opportunities 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 SBI Equity Minimum Variance Fund and SBI Healthcare Opportunities Fund overlap?
18.0%. They hold 4 of the same securities, the largest shared ones being SUNPHARMA, APOLLOHOSP, CIPLA. From each fund's latest monthly portfolio.
Which is better for SIP, SBI Equity Minimum Variance Fund or SBI Healthcare Opportunities Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,04,709 in SBI Equity Minimum Variance Fund (XIRR 5.6% a year) and ₹10,49,448 in SBI Healthcare Opportunities Fund (XIRR 21.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both SBI Equity Minimum Variance Fund and SBI Healthcare Opportunities Fund?
Yes. 18.0% 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.