SBI Nifty Bank Index Fund vs UTI Nifty Bank ETF
Direct Plan, Growth option · Data as on 30-10-2026
SBI Nifty Bank Index Fund is a mutual fund and UTI Nifty Bank ETF is an ETF fund. In the year to 30-10-2026, SBI Nifty Bank Index Fund (Direct) returned −5.3% and UTI Nifty Bank ETF (Direct) returned −5.4%. Their portfolios overlap 100.0%: they hold 14 of the same securities.
Which is better, SBI Nifty Bank Index or UTI Nifty Bank ETF? 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 Bank Index returned more over 1 year: −5.3% against −5.4%.
- SBI Nifty Bank Index fell less in its worst fall since 12-02-2025: −18.3% against −18.4%.
- UTI Nifty Bank ETF is the larger fund: ₹2,877 Cr against ₹199 Cr.
- Their portfolios overlap 100.0%: 14 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 Nifty Bank Index Fund | UTI Nifty Bank ETF |
|---|---|---|
| Fund house | SBI Mutual Fund | UTI Mutual Fund |
| Category | Not available | ETF |
| AUM | ₹199 Cr (30-09-2026) | ₹2,877 Cr (30-09-2026) |
| NAV | ₹10.98 (Direct) | ₹56.63 (Direct) |
| Expense ratio (Direct) | 0.32% | 0.00% |
| Expense ratio (Regular) | 0.75% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty Bank TRI |
| Launch date | Not available | 01-09-2020 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3 |
| Exit load | Not available | Not available |
SBI Nifty Bank Index vs UTI Nifty Bank ETF: 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 Nifty Bank Index Fund (Direct) | +0.08% | −4.22% | +0.16% | −5.31% | -- | -- | -- |
| UTI Nifty Bank ETF (Direct) | +0.08% | −4.19% | +0.23% | −5.36% | +8.99% | +7.64% | -- |
SBI Nifty Bank Index vs UTI Nifty Bank ETF: Year-wise Returns
| Year | SBI Nifty Bank IndexSBI Nifty Bank Index | UTI Nifty Bank ETFUTI Nifty Bank ETF | Nifty Bank TRI |
|---|---|---|---|
| 2026to date | −7.73% | −7.79% | −7.61% |
| 2025 | -- | +17.93% | +18.08% |
| 2024 | -- | +6.11% | +6.26% |
| 2023 | -- | +13.19% | +13.29% |
| 2022 | -- | +22.02% | +22.14% |
| 2021 | -- | +13.71% | +13.90% |
SBI Nifty Bank Index vs UTI Nifty Bank ETF: Rolling Returns
Every holding period of both funds, against Nifty Bank TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 177 of them, one for each trading day from 12-02-2026 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 Nifty Bank Index Fund (Direct)
UTI Nifty Bank ETF (Direct)
Nifty Bank TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Oct 2025
to
Oct 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 Nifty Bank Index | 26.0 | 46.3 | 12.4 | 3.4 | 2.8 | 5.6 | 3.4 | 4.7% | 2.7% | −6.7% | 26.5% | 0% |
| UTI Nifty Bank ETF | 25.7 | 47.4 | 12.0 | 3.4 | 2.9 | 5.7 | 2.9 | 4.6% | 2.6% | −6.7% | 26.7% | 0% |
| Nifty Bank TRI | 24.9 | 45.8 | 14.1 | 3.4 | 2.8 | 4.0 | 5.1 | 4.9% | 2.8% | −6.5% | 26.9% | -- |
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. The benchmark is Nifty Bank 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 12-02-2025. Past returns do not promise future returns.
SBI Nifty Bank Index vs UTI Nifty Bank ETF: 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 12-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI Nifty Bank IndexSBI Nifty Bank Index Fund (Direct) | ₹2,10,000 | ₹2,08,817 | −₹1,183 | −0.6% |
| UTI Nifty Bank ETFUTI Nifty Bank ETF (Direct) | ₹2,10,000 | ₹2,08,821 | −₹1,179 | −0.6% |
SBI Nifty Bank IndexSBI Nifty Bank Index Fund (Direct)
UTI Nifty Bank ETFUTI Nifty Bank ETF (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 Nifty Bank Index vs UTI Nifty Bank ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI Nifty Bank Index Fund (Direct) | UTI Nifty Bank ETF (Direct) |
|---|---|---|
| Return (CAGR) | −5.31% | −5.36% |
| Standard deviation | 16.97% | 17.02% |
| Sharpe ratio | -0.62 | -0.62 |
| Sortino ratio | -0.86 | -0.86 |
| Maximum drawdown | −18.3% (30-03-2026) | −18.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.18% | −0.22% |
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 Nifty Bank Index Fund (Direct) | UTI Nifty Bank ETF (Direct) |
|---|---|---|
| Return (CAGR) | +6.71% | +15.34% |
| Standard deviation | 15.29% | 18.50% |
| Sharpe ratio | 0.08 | 0.54 |
| Sortino ratio | 0.12 | 0.78 |
| Maximum drawdown | −18.3% (30-03-2026) | −20.6% (16-06-2022) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.21% | −0.15% |
From daily NAVs, 12-02-2025 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.
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 Nifty Bank Index Fund (Direct)
UTI Nifty Bank ETF (Direct)
Nifty Bank TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| SBI Nifty Bank Index Fund (Direct) | −18.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.7% |
| UTI Nifty Bank ETF (Direct) | −18.4% | 18-02-2026 | 31-03-2026 | Not yet | -- | −10.7% |
| Nifty Bank TRI | −18.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.6% |
From daily values since 12-02-2025, 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 Nifty Bank Index Fund (Direct)
UTI Nifty Bank ETF (Direct)
Nifty Bank TRI
Against Nifty Bank TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| SBI Nifty Bank Index Fund (Direct) | 99% | 100% | 0.09% |
| UTI Nifty Bank ETF (Direct) | 100% | 100% | 0.03% |
From month-end values since 12-02-2025. 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 Nifty Bank Index vs UTI Nifty Bank ETF: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Nifty Bank Index Fund, September 2026; UTI Nifty Bank ETF, September 2026
Holdings in common
- Overlap
- 100.0%
- Held by both
- 14
- Only in SBI Nifty Bank Index
- 0
- Only in UTI Nifty Bank ETF
- 0
| Security | % of SBI Nifty Bank Index | % of UTI Nifty Bank ETF |
|---|---|---|
| HDFC Bank Ltd. | 18.62% | 18.61% |
| ICICI Bank Ltd. | 14.18% | 14.18% |
| Kotak Mahindra Bank Ltd. | 10.20% | 10.20% |
| Axis Bank Ltd. | 10.06% | 10.06% |
| State Bank of India | 9.93% | 9.93% |
| The Federal Bank Ltd. | 6.56% | 6.56% |
| IndusInd Bank Ltd. | 4.97% | 4.97% |
| AU Small Finance Bank Ltd. | 4.85% | 4.85% |
| IDFC First Bank Ltd. | 4.54% | 4.54% |
| Bank of Baroda | 3.59% | 3.59% |
| Canara Bank | 3.37% | 3.37% |
| Punjab National Bank | 3.27% | 3.27% |
| Yes Bank Ltd. | 3.01% | 3.01% |
| Union Bank of India | 2.86% | 2.86% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 100.0% means 100.0% 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 Nifty Bank Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in UTI Nifty Bank ETF
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI Nifty Bank Index | UTI Nifty Bank ETF |
|---|---|---|
| Equity | 100.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 0.0% |
Market cap of stocks
| Market cap | SBI Nifty Bank Index | UTI Nifty Bank ETF |
|---|---|---|
| Large Cap | 76.1% | 76.1% |
| Mid Cap | 23.9% | 23.9% |
| 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 | SBI Nifty Bank Index | UTI Nifty Bank ETF |
|---|---|---|
| Banks | 100.0% | 100.0% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Nifty Bank Index vs UTI Nifty Bank ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Nifty Bank Index Fund | UTI Nifty Bank ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 0.00% |
| Base expense ratio (Direct) | 0.18% | 0.00% |
| Total expense ratio (Regular) | 0.75% | Not available |
| Base expense ratio (Regular) | 0.54% | 0.15% |
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.
SBI Nifty Bank Index Fund vs UTI Nifty Bank ETF: Frequently Asked Questions
What is the difference between SBI Nifty Bank Index Fund and UTI Nifty Bank ETF?
SBI Nifty Bank Index Fund is a mutual fund, UTI Nifty Bank ETF is an ETF fund, run by SBI Mutual Fund and UTI Mutual Fund. Their portfolios overlap 100.0%.
Which has given higher returns, SBI Nifty Bank Index Fund or UTI Nifty Bank ETF?
Over 1 year: SBI Nifty Bank Index Fund −5.31%, UTI Nifty Bank ETF −5.36%. As on 30-10-2026. Past returns do not promise future returns.
How much do SBI Nifty Bank Index Fund and UTI Nifty Bank ETF overlap?
100.0%. They hold 14 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Can I invest in both SBI Nifty Bank Index Fund and UTI Nifty Bank ETF?
Yes. 100.0% 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.