SBI NIFTY Index Fund vs UTI - Equity Savings Fund
Direct Plan, Growth option · Data as on 30-10-2026
SBI NIFTY Index Fund is an Index fund and UTI - Equity Savings Fund is an Equity Savings fund. In the 3 years to 30-10-2026, SBI NIFTY Index Fund (Direct) returned 7.3% a year and UTI - Equity Savings Fund (Direct) returned 8.1% a year. SBI NIFTY Index Fund charges 0.24% a year and UTI - Equity Savings Fund 1.04% (Direct plans). Their portfolios overlap 48.6%: they hold 30 of the same securities.
UTI - Equity Savings Fund
Equity Savings
- 3 year return
- 8.1%
- Expense ratio
- 1.04%
- NAV
- ₹20.08
Which is better, SBI NIFTY Index or UTI - Equity Savings? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI - Equity Savings returned more over 5 years: 8.3% a year against 6.4%.
- UTI - Equity Savings returned more over 3 years: 8.1% a year against 7.3%.
- SBI NIFTY Index costs less: 0.24% a year against 1.04% (Direct plans).
- UTI - Equity Savings swung less over 3 years: a standard deviation of 4.4% a year against 13.2%.
- UTI - Equity Savings fell less in its worst fall since 31-08-2018: −13.8% against −38.4%.
- SBI NIFTY Index holds more in large companies: 98.8% of the fund in large caps against 62.0%.
- SBI NIFTY Index is the larger fund: ₹13,190 Cr against ₹804 Cr.
- Their portfolios overlap 48.6%: 30 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 | UTI - Equity Savings Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | UTI Mutual Fund |
| Category | Index | Equity Savings |
| AUM | ₹13,190 Cr (30-09-2026) | ₹804 Cr (30-09-2026) |
| NAV | ₹215.76 (Direct) | ₹20.08 (Direct) |
| Expense ratio (Direct) | 0.24% | 1.04% |
| Expense ratio (Regular) | 0.44% | 2.06% |
| Riskometer | Very High | Moderately High |
| Benchmark | Nifty 50 TRI | CRISIL Equity Savings Index |
| Launch date | 17-01-2002 | 30-08-2018 |
| Minimum investment | ₹5,000 | Regular Plan-Quarterly Reinvestment of IDCW- Rs.5000, Regular Plan-Quarterly Payout of IDCW- Rs.5000, Direct Plan-Quarterly Reinvestment of IDCW- Rs.5000, Direct Plan-Quarterly Payout of IDCW- Rs.5000, Regular Plan-Monthly Reinvestment of IDCW- Rs.5000, R |
| Lock in | None | None |
| Fund managers | Raviprakash Sharma | Anurag Mittal FM 1, V Srivatsa FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Exit load of 0.25% if redeemed within 30 days | Exit load of 1%, if redeemed within 30 days. |
SBI NIFTY Index vs UTI - Equity Savings: 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% |
| UTI - Equity Savings Fund (Direct) | +0.33% | −1.35% | +0.15% | +0.72% | +8.11% | +8.28% | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
Category average: the average of the 23 Equity Savings funds, same plan type.
SBI NIFTY Index vs UTI - Equity Savings: Year-wise Returns
| Year | SBI NIFTY IndexSBI NIFTY Index | UTI - Equity SavingsUTI - Equity Savings |
|---|---|---|
| 2026to date | −11.09% | −1.18% |
| 2025 | +11.58% | +9.55% |
| 2024 | +9.80% | +10.14% |
| 2023 | +21.04% | +16.68% |
| 2022 | +5.43% | +7.21% |
| 2021 | +25.10% | +14.98% |
SBI NIFTY Index vs UTI - Equity Savings: 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, 1,281 of them, one for each trading day from 31-08-2021 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)
UTI - Equity Savings Fund (Direct)
Nifty 50 TRI
to
Jan 2022Dec 2019
to
Dec 2022Nov 2020
to
Nov 2023Sept 2021
to
Sept 2024Aug 2022
to
Aug 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 NIFTY Index | 0.0 | 0.0 | 9.8 | 40.5 | 37.0 | 9.2 | 3.4 | 15.3% | 15.0% | 5.1% | 31.8% | 0% |
| UTI - Equity Savings | 0.0 | 0.0 | 15.5 | 82.9 | 1.7 | 0.0 | 0.0 | 11.5% | 11.4% | 7.5% | 16.2% | 9% |
| Nifty 50 TRI | 0.0 | 0.0 | 9.0 | 35.9 | 41.2 | 10.1 | 3.8 | 15.7% | 15.4% | 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 31-08-2018. Past returns do not promise future returns.
SBI NIFTY Index vs UTI - Equity Savings: 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 01-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI NIFTY IndexSBI NIFTY Index Fund (Direct) | ₹9,90,000 | ₹14,76,695 | ₹4,86,695 | 9.5% |
| UTI - Equity SavingsUTI - Equity Savings Fund (Direct) | ₹9,90,000 | ₹14,51,351 | ₹4,61,351 | 9.1% |
SBI NIFTY IndexSBI NIFTY Index Fund (Direct)
UTI - Equity SavingsUTI - Equity Savings 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 UTI - Equity Savings: 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) | UTI - Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.22% | +0.72% |
| Standard deviation | 13.62% | 5.20% |
| Sharpe ratio | -1.14 | -0.87 |
| Sortino ratio | -1.52 | -1.16 |
| Maximum drawdown | −15.1% (31-03-2026) | −4.9% (30-03-2026) |
| 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 | SBI NIFTY Index Fund (Direct) | UTI - Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.34% | +8.11% |
| Standard deviation | 13.21% | 4.43% |
| Sharpe ratio | 0.10 | 0.47 |
| Sortino ratio | 0.14 | 0.67 |
| Maximum drawdown | −15.5% (04-03-2025) | −4.9% (30-03-2026) |
| 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 | SBI NIFTY Index Fund (Direct) | UTI - Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.43% | +8.28% |
| Standard deviation | 13.69% | 4.78% |
| Sharpe ratio | 0.05 | 0.52 |
| Sortino ratio | 0.06 | 0.73 |
| Maximum drawdown | −15.9% (17-06-2022) | −5.1% (20-06-2022) |
| 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 | SBI NIFTY Index Fund (Direct) | UTI - Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.95% | +8.90% |
| Standard deviation | 15.84% | 5.72% |
| Sharpe ratio | 0.31 | 0.64 |
| Sortino ratio | 0.42 | 0.87 |
| Maximum drawdown | −38.4% (23-03-2020) | −13.8% (23-03-2020) |
| Beta | 1.00 | -- |
| Alpha | −0.62% | -- |
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)
UTI - Equity Savings 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% |
| UTI - Equity Savings Fund (Direct) | −13.8% | 24-01-2020 | 23-03-2020 | 10-08-2020 | 5 months | −2.4% |
| Nifty 50 TRI | −38.3% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −11.6% |
From daily values since 31-08-2018, 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)
UTI - Equity Savings 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)
UTI - Equity Savings 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)
UTI - Equity Savings Fund (Direct)
Nifty 50 TRI
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| SBI NIFTY Index Fund (Direct) | 99% | 101% | 0.15% |
| UTI - Equity Savings Fund (Direct) | 44% | 21% | 11.31% |
From month-end values since 31-08-2018. 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 UTI - Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: SBI NIFTY Index Fund, September 2026; UTI - Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 48.6%
- Held by both
- 30
- Only in SBI NIFTY Index
- 20
- Only in UTI - Equity Savings
- 23
| Security | % of SBI NIFTY Index | % of UTI - Equity Savings |
|---|---|---|
| HDFC Bank Ltd. | 10.40% | 4.65% |
| Axis Bank Ltd. | 3.37% | 5.13% |
| Bharti Airtel Ltd. | 5.12% | 3.33% |
| State Bank of India | 3.80% | 3.27% |
| ICICI Bank Ltd. | 9.07% | 3.17% |
| Kotak Mahindra Bank Ltd. | 2.94% | 3.65% |
| Reliance Industries Ltd. | 7.60% | 2.83% |
| Mahindra & Mahindra Ltd. | 2.52% | 3.81% |
| Larsen & Toubro Ltd. | 4.21% | 2.35% |
| Bajaj Finance Ltd. | 2.51% | 2.28% |
| Maruti Suzuki India Ltd. | 1.49% | 2.17% |
| ITC Ltd. | 2.43% | 1.38% |
| JSW Steel Ltd. | 1.16% | 1.54% |
| Grasim Industries Ltd. | 1.11% | 3.43% |
| Infosys Ltd. | 3.36% | 1.04% |
| Shriram Finance Ltd. | 1.32% | 1.03% |
| Tata Consultancy Services Ltd. | 2.00% | 1.02% |
| Interglobe Aviation Ltd. | 1.08% | 1.02% |
| Coal India Ltd. | 0.97% | 0.90% |
| Adani Ports and Special Economic Zone Ltd. | 1.35% | 0.87% |
| Oil & Natural Gas Corporation Ltd. | 0.84% | 0.85% |
| Power Grid Corporation of India Ltd. | 1.13% | 0.83% |
| HCL Technologies Ltd. | 1.24% | 0.79% |
| Bajaj Auto Ltd. | 1.14% | 0.75% |
| SBI Life Insurance Co. Ltd. | 0.73% | 1.10% |
| NTPC Ltd. | 1.47% | 0.68% |
| Cipla Ltd. | 0.73% | 0.68% |
| Bajaj Finserv Ltd. | 0.96% | 0.65% |
| Dr. Reddy's Laboratories Ltd. | 0.72% | 0.54% |
| Hindalco Industries Ltd. | 1.31% | 0.39% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.6% means 48.6% 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 |
|---|---|
| Eternal Ltd. | 2.22% |
| Sun Pharmaceutical Industries Ltd. | 1.84% |
| Titan Company Ltd. | 1.81% |
| Hindustan Unilever Ltd. | 1.60% |
| Tata Steel Ltd. | 1.46% |
Largest holdings only in UTI - Equity Savings Fund
| Security | % of fund |
|---|---|
| 07.32% GSEC MAT -13/11/2030 | 8.21% |
| 7.04% GSEC MAT- 03/06/2029 | 5.85% |
| INVIT - IRB INVIT FUND | 2.73% |
| 7.06% GS MAT - 10/04/2028 | 2.51% |
| INVIT - INDUS INFRA TRUST | 1.75% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI NIFTY Index | UTI - Equity Savings |
|---|---|---|
| Equity | 100.2% | 66.0% |
| Debt | 0.0% | 16.6% |
| Cash and others | -0.2% | 17.4% |
Market cap of stocks
| Market cap | SBI NIFTY Index | UTI - Equity Savings |
|---|---|---|
| Large Cap | 98.8% | 62.0% |
| Mid Cap | 1.4% | 3.7% |
| Small Cap | 0.0% | 0.0% |
| Not on AMFI's list | 0.0% | 0.3% |
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 | UTI - Equity Savings |
|---|---|---|
| Banks | 29.6% | 20.9% |
| Petroleum Products | 7.6% | 2.8% |
| Automobiles | 6.7% | 7.5% |
| IT - Software | 7.5% | 3.4% |
| Finance | 5.5% | 4.2% |
| Telecom - Services | 5.1% | 4.6% |
| Cement & Cement Products | 2.4% | 3.4% |
The six largest sectors of each fund's stocks, % of the fund.
SBI NIFTY Index vs UTI - Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI NIFTY Index Fund | UTI - Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.24% | 1.04% |
| Base expense ratio (Direct) | 0.16% | 0.62% |
| Total expense ratio (Regular) | 0.44% | 2.06% |
| Base expense ratio (Regular) | 0.33% | 1.52% |
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 UTI - Equity Savings Fund: Frequently Asked Questions
What is the difference between SBI NIFTY Index Fund and UTI - Equity Savings Fund?
SBI NIFTY Index Fund is an Index fund, UTI - Equity Savings Fund is an Equity Savings fund, run by SBI Mutual Fund and UTI Mutual Fund. Their portfolios overlap 48.6%. SBI NIFTY Index Fund charges 0.24% a year and UTI - Equity Savings Fund 1.04%.
Which has given higher returns, SBI NIFTY Index Fund or UTI - Equity Savings Fund?
Over 1 year: SBI NIFTY Index Fund −10.22%, UTI - Equity Savings Fund +0.72%. Over 3 years: SBI NIFTY Index Fund +7.34% a year, UTI - Equity Savings Fund +8.11% a year. Over 5 years: SBI NIFTY Index Fund +6.43% a year, UTI - Equity Savings Fund +8.28% 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 UTI - Equity Savings Fund?
SBI NIFTY Index Fund charges less: 0.24% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI NIFTY Index Fund and UTI - Equity Savings Fund overlap?
48.6%. They hold 30 of the same securities, the largest shared ones being HDFCBANK, AXISBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, SBI NIFTY Index Fund or UTI - Equity Savings Fund?
On SEBI's riskometer, SBI NIFTY Index Fund is rated Very High and UTI - Equity Savings Fund Moderately High. Over 3 years, the standard deviation of daily returns was 13.21% and 4.43% a year.
Which is better for SIP, SBI NIFTY Index Fund or UTI - Equity Savings 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 ₹7,37,975 in UTI - Equity Savings Fund (XIRR 7.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both SBI NIFTY Index Fund and UTI - Equity Savings Fund?
Yes. 48.6% 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 UTI - Equity Savings Fund?
SBI NIFTY Index Fund: Raviprakash Sharma. UTI - Equity Savings Fund: Anurag Mittal FM 1, V Srivatsa FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.