SBI NIFTY Index Fund vs Sundaram Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
SBI NIFTY Index Fund is an Index fund and Sundaram Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, SBI NIFTY Index Fund (Direct) returned 7.3% a year and Sundaram Value Fund (Direct) returned 6.2% a year. SBI NIFTY Index Fund charges 0.24% a year and Sundaram Value Fund 1.77% (Direct plans). Their portfolios overlap 45.8%: they hold 18 of the same securities.
Sundaram Value Fund
Value and Contra
- 3 year return
- 6.2%
- Expense ratio
- 1.77%
- NAV
- ₹211.75
Which is better, SBI NIFTY Index or Sundaram Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Sundaram Value returned more over 5 years: 6.7% a year against 6.4%.
- SBI NIFTY Index returned more over 3 years: 7.3% a year against 6.2%.
- SBI NIFTY Index costs less: 0.24% a year against 1.77% (Direct plans).
- Sundaram Value swung less over 3 years: a standard deviation of 12.9% a year against 13.2%.
- SBI NIFTY Index fell less in its worst fall since 02-01-2013: −38.4% against −41.3%.
- SBI NIFTY Index holds more in large companies: 98.8% of the fund in large caps against 59.8%.
- SBI NIFTY Index is the larger fund: ₹13,190 Cr against ₹1,217 Cr.
- Their portfolios overlap 45.8%: 18 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 Index Fund | Sundaram Value Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | Sundaram Mutual Fund |
| Category | Index | Value and Contra |
| AUM | ₹13,190 Cr (30-09-2026) | ₹1,217 Cr (30-09-2026) |
| NAV | ₹215.76 (Direct) | ₹211.75 (Direct) |
| Expense ratio (Direct) | 0.24% | 1.77% |
| Expense ratio (Regular) | 0.44% | 2.29% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 50 TRI | Nifty 500 TRI |
| Launch date | 17-01-2002 | 01-11-1999 |
| Minimum investment | ₹5,000 | Regular Plan & Direct Plan Options: For first investment – Rs. 100/- |
| Lock in | None | None |
| Fund managers | Raviprakash Sharma | Bharath S, Siddarth Mohta, Sandeep Agarwal, Shalav Saket |
| Exit load | Exit load of 0.25% if redeemed within 30 days | Any redemptions, switch or withdrawals by way of SWP/STP would be subject to an exit load of 1 %, if the units are redeemed within 365 days from the date of allotment of units Further, exit load will be waived on Intra-scheme Switch-outs/STP. |
SBI NIFTY Index vs Sundaram Value: 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 Index Fund (Direct) | +1.94% | −5.06% | −3.24% | −10.22% | +7.34% | +6.43% | +11.22% |
| Sundaram Value Fund (Direct) | −1.53% | −6.43% | −6.51% | −11.71% | +6.15% | +6.66% | +9.33% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
Category average: the average of the 30 Value and Contra funds, same plan type.
SBI NIFTY Index vs Sundaram Value: Year-wise Returns
| Year | SBI NIFTY IndexSBI NIFTY Index | Sundaram ValueSundaram Value |
|---|---|---|
| 2026to date | −11.09% | −12.63% |
| 2025 | +11.58% | +7.67% |
| 2024 | +9.80% | +12.66% |
| 2023 | +21.04% | +23.99% |
| 2022 | +5.43% | +4.71% |
| 2021 | +25.10% | +32.22% |
SBI NIFTY Index vs Sundaram Value: 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, 2,675 of them, one for each trading day from 04-01-2016 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.
SBI NIFTY Index Fund (Direct)
Sundaram Value Fund (Direct)
Nifty 50 TRI
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SBI NIFTY Index | 0.9 | 3.3 | 22.7 | 45.2 | 21.8 | 4.4 | 1.6 | 12.7% | 12.9% | −4.9% | 31.8% | 0% |
| Sundaram Value | 6.3 | 3.9 | 14.3 | 34.3 | 28.1 | 9.2 | 4.0 | 13.3% | 13.9% | −9.6% | 32.2% | 51% |
| Nifty 50 TRI | 0.7 | 2.8 | 19.6 | 43.3 | 27.0 | 4.8 | 1.8 | 13.3% | 13.4% | −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 02-01-2013. Past returns do not promise future returns.
SBI NIFTY Index vs Sundaram Value: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI NIFTY IndexSBI NIFTY Index Fund (Direct) | ₹16,60,000 | ₹36,28,395 | ₹19,68,395 | 10.6% |
| Sundaram ValueSundaram Value Fund (Direct) | ₹16,60,000 | ₹35,42,331 | ₹18,82,331 | 10.3% |
SBI NIFTY IndexSBI NIFTY Index Fund (Direct)
Sundaram ValueSundaram Value 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 NIFTY Index vs Sundaram Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI NIFTY Index Fund (Direct) | Sundaram Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.22% | −11.71% |
| Standard deviation | 13.62% | 13.97% |
| Sharpe ratio | -1.14 | -1.21 |
| Sortino ratio | -1.52 | -1.59 |
| Maximum drawdown | −15.1% (31-03-2026) | −15.4% (31-03-2026) |
| Beta | 1.00 | 0.94 |
| Alpha | −0.23% | −5.08% |
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 Index Fund (Direct) | Sundaram Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.34% | +6.15% |
| Standard deviation | 13.21% | 12.87% |
| Sharpe ratio | 0.10 | 0.01 |
| Sortino ratio | 0.14 | 0.01 |
| Maximum drawdown | −15.5% (04-03-2025) | −15.9% (28-02-2025) |
| Beta | 1.00 | 0.88 |
| Alpha | −0.29% | −3.55% |
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 NIFTY Index Fund (Direct) | Sundaram Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.43% | +6.66% |
| Standard deviation | 13.69% | 13.38% |
| Sharpe ratio | 0.05 | 0.06 |
| Sortino ratio | 0.06 | 0.09 |
| Maximum drawdown | −15.9% (17-06-2022) | −16.3% (20-06-2022) |
| Beta | 1.00 | 0.91 |
| Alpha | −0.27% | −1.88% |
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 NIFTY Index Fund (Direct) | Sundaram Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.95% | +11.22% |
| Standard deviation | 15.84% | 15.58% |
| Sharpe ratio | 0.31 | 0.33 |
| Sortino ratio | 0.42 | 0.44 |
| Maximum drawdown | −38.4% (23-03-2020) | −41.3% (23-03-2020) |
| Beta | 1.00 | 0.96 |
| Alpha | −0.62% | −1.30% |
From daily NAVs, 02-01-2013 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.
SBI NIFTY Index Fund (Direct)
Sundaram Value 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 NIFTY Index Fund (Direct) | −38.4% | 14-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −11.8% |
| Sundaram Value Fund (Direct) | −41.3% | 23-01-2018 | 23-03-2020 | 09-12-2020 | 9 months | −13.3% |
| Nifty 50 TRI | −38.3% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −11.6% |
From daily values since 02-01-2013, 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.
SBI NIFTY Index Fund (Direct)
Sundaram Value 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 NIFTY Index Fund (Direct)
Sundaram Value 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 NIFTY Index Fund (Direct)
Sundaram Value Fund (Direct)
Nifty 50 TRI
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| SBI NIFTY Index Fund (Direct) | 99% | 101% | 0.34% |
| Sundaram Value Fund (Direct) | 98% | 97% | 5.61% |
From month-end values since 02-01-2013. 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 Index vs Sundaram Value: Portfolio Overlap
From each fund's latest monthly portfolio: SBI NIFTY Index Fund, September 2026; Sundaram Value Fund, September 2026
Holdings in common
- Overlap
- 45.8%
- Held by both
- 18
- Only in SBI NIFTY Index
- 32
- Only in Sundaram Value
- 30
| Security | % of SBI NIFTY Index | % of Sundaram Value |
|---|---|---|
| HDFC Bank Ltd. | 10.40% | 6.70% |
| ICICI Bank Ltd. | 9.07% | 5.75% |
| Reliance Industries Ltd. | 7.60% | 5.17% |
| State Bank of India | 3.80% | 4.10% |
| Axis Bank Ltd. | 3.37% | 5.04% |
| Infosys Ltd. | 3.36% | 3.27% |
| Larsen & Toubro Ltd. | 4.21% | 3.09% |
| Bharti Airtel Ltd. | 5.12% | 2.89% |
| ITC Ltd. | 2.43% | 2.61% |
| NTPC Ltd. | 1.47% | 3.23% |
| Tata Consultancy Services Ltd. | 2.00% | 1.26% |
| HCL Technologies Ltd. | 1.24% | 1.26% |
| Power Grid Corporation of India Ltd. | 1.13% | 1.64% |
| Grasim Industries Ltd. | 1.11% | 1.33% |
| Coal India Ltd. | 0.97% | 1.80% |
| Tech Mahindra Ltd. | 0.93% | 1.13% |
| Cipla Ltd. | 0.73% | 1.26% |
| HDFC Life Insurance Company Ltd. | 0.54% | 0.75% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.8% means 45.8% 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 Index Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Ltd. | 2.94% |
| Mahindra & Mahindra Ltd. | 2.52% |
| Bajaj Finance Ltd. | 2.51% |
| Eternal Ltd. | 2.22% |
| Sun Pharmaceutical Industries Ltd. | 1.84% |
Largest holdings only in Sundaram Value Fund
| Security | % of fund |
|---|---|
| Kirloskar Oil Engines Ltd | 4.39% |
| Force Motors Ltd | 2.77% |
| Kirloskar Ferrous Ind Ltd | 2.77% |
| GAIL (India) Ltd | 2.52% |
| Alkem Laboratories Ltd | 2.31% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI NIFTY Index | Sundaram Value |
|---|---|---|
| Equity | 100.2% | 98.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.2% | 1.1% |
Market cap of stocks
| Market cap | SBI NIFTY Index | Sundaram Value |
|---|---|---|
| Large Cap | 98.8% | 59.8% |
| Mid Cap | 1.4% | 13.6% |
| Small Cap | 0.0% | 25.6% |
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 Index | Sundaram Value |
|---|---|---|
| Banks | 29.6% | 26.9% |
| Petroleum Products | 7.6% | 6.3% |
| IT - Software | 7.5% | 0.0% |
| It - Software | 0.0% | 6.9% |
| Automobiles | 6.7% | 2.8% |
| Finance | 5.5% | 2.0% |
| Telecom - Services | 5.1% | 2.9% |
| Power | 2.6% | 4.9% |
| Pharmaceuticals & Biotechnology | 3.3% | 4.7% |
| Auto Components | 0.0% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
SBI NIFTY Index vs Sundaram Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI NIFTY Index Fund | Sundaram Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.24% | 1.77% |
| Base expense ratio (Direct) | 0.16% | 1.42% |
| Total expense ratio (Regular) | 0.44% | 2.29% |
| Base expense ratio (Regular) | 0.33% | 1.87% |
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
SBI NIFTY Index Fund vs Sundaram Value Fund: Frequently Asked Questions
What is the difference between SBI NIFTY Index Fund and Sundaram Value Fund?
SBI NIFTY Index Fund is an Index fund, Sundaram Value Fund is a Value and Contra fund, run by SBI Mutual Fund and Sundaram Mutual Fund. Their portfolios overlap 45.8%. SBI NIFTY Index Fund charges 0.24% a year and Sundaram Value Fund 1.77%.
Which has given higher returns, SBI NIFTY Index Fund or Sundaram Value Fund?
Over 1 year: SBI NIFTY Index Fund −10.22%, Sundaram Value Fund −11.71%. Over 3 years: SBI NIFTY Index Fund +7.34% a year, Sundaram Value Fund +6.15% a year. Over 5 years: SBI NIFTY Index Fund +6.43% a year, Sundaram Value Fund +6.66% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, SBI NIFTY Index Fund or Sundaram Value Fund?
SBI NIFTY Index Fund charges less: 0.24% a year against 1.77%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI NIFTY Index Fund and Sundaram Value Fund overlap?
45.8%. They hold 18 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, SBI NIFTY Index Fund or Sundaram Value Fund?
On SEBI's riskometer, SBI NIFTY Index Fund is rated Very High and Sundaram Value Fund Very High. Over 3 years, the standard deviation of daily returns was 13.21% and 12.87% a year.
Which is better for SIP, SBI NIFTY Index Fund or Sundaram Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,92,459 in SBI NIFTY Index Fund (XIRR 4.9% a year) and ₹6,79,731 in Sundaram Value Fund (XIRR 4.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both SBI NIFTY Index Fund and Sundaram Value Fund?
Yes. 45.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages SBI NIFTY Index Fund and Sundaram Value Fund?
SBI NIFTY Index Fund: Raviprakash Sharma. Sundaram Value Fund: Bharath S, Siddarth Mohta, Sandeep Agarwal, Shalav Saket.
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.