Nifty Bank index funds and ETFs
24 index funds and ETFs track the Nifty Bank, as each fund house reported for Sep 2026. Closest to the index over the year: Bajaj Finserv Nifty Bank ETF. Tracking difference is the fund's return less the index's over the year; its costs make it negative, so the figure nearest nought is the closest.
Index funds on the Nifty Bank
Closest to the index first, then the lowest expense ratio. Over the year to the month's end.The Nifty Bank
SBI Nifty Bank Index FundSBI Mutual FundTracking difference−0.17%After fee+0.11%Tracking error0.12%Expense ratio0.33%Fund size, ₹ Cr199
ICICI Prudential Nifty Bank Index FundICICI Prudential Mutual FundTracking difference−0.23%After fee−0.04%Tracking error0.05%Expense ratio0.22%Fund size, ₹ Cr733
Axis Nifty Bank Index FundAxis Mutual FundTracking difference−0.27%After fee−0.06%Tracking error0.06%Expense ratio0.24%Fund size, ₹ Cr174
Navi Nifty Bank Index FundNavi Mutual FundTracking difference−0.28%After fee−0.09%Tracking error0.05%Expense ratio0.23%Fund size, ₹ Cr613
DSP Nifty Bank Index FundDSP Mutual FundTracking difference−0.29%After fee−0.05%Tracking error0.06%Expense ratio0.27%Fund size, ₹ Cr61
Motilal Oswal Nifty Bank Index FundMotilal Oswal Mutual FundTracking difference−0.33%After fee−0.07%Tracking error0.04%Expense ratio0.31%Fund size, ₹ Cr619
Nippon India Nifty Bank Index FundNippon India Mutual FundTracking difference−0.33%After fee−0.09%Tracking error0.06%Expense ratio0.31%Fund size, ₹ Cr219
Bandhan Nifty Bank Index FundBandhan Mutual FundTracking difference−0.38%After fee−0.13%Tracking error0.04%Expense ratio0.32%Fund size, ₹ Cr19
Invesco India Nifty Bank Index FundInvesco Mutual FundTracking difference–After fee–Tracking error0.14%Expense ratio0.68%Fund size, ₹ Cr25
Kotak Nifty Bank Index FundKotak Mahindra Mutual FundTracking difference–After fee–Tracking error0.43%Expense ratio4.58%Fund size, ₹ Cr7
ETFs on the Nifty Bank
Closest to the index first, then the lowest expense ratio. The premium is the median over the month's trading days of each day's close against its NAV.
Bajaj Finserv Nifty Bank ETFBajaj Finserv Mutual FundTracking difference−0.16%After fee−0.02%Tracking error0.05%Expense ratio0.15%Fund size, ₹ Cr384Premium or discount+0.06%
Mirae Asset Nifty Bank ETFMirae Asset Mutual FundTracking difference−0.16%After fee−0.03%Tracking error0.03%Expense ratio0.16%Fund size, ₹ Cr317Premium or discount+0.01%- DSP Nifty Bank ETFDSP Mutual FundTracking difference−0.18%After fee+0.04%Tracking error0.05%Expense ratio0.16%Fund size, ₹ Cr421Premium or discount+0.09%
Aditya Birla Sun Life Nifty Bank ETFAditya Birla Sun Life Mutual FundTracking difference−0.21%After fee−0.07%Tracking error0.03%Expense ratio0.15%Fund size, ₹ Cr2,356Premium or discount+0.03%- Kotak Nifty Bank ETFKotak Mahindra Mutual FundTracking difference−0.21%After fee−0.05%Tracking error0.04%Expense ratio0.17%Fund size, ₹ Cr4,097Premium or discount−0.04%
- ICICI Prudential Nifty Bank ETFICICI Prudential Mutual FundTracking difference−0.22%After fee−0.06%Tracking error0.03%Expense ratio0.17%Fund size, ₹ Cr2,438Premium or discount+0.07%
Baroda BNP Paribas Nifty Bank ETFBaroda BNP Paribas Mutual FundTracking difference−0.22%After fee+0.10%Tracking error0.10%Expense ratio0.54%Fund size, ₹ Cr4Premium or discount−0.16%
HDFC Nifty Bank ETFHDFC Mutual FundTracking difference−0.23%After fee−0.06%Tracking error0.03%Expense ratio0.17%Fund size, ₹ Cr2,031Premium or discount+0.03%
UTI Nifty Bank ETFUTI Mutual FundTracking difference−0.23%After fee−0.05%Tracking error0.04%Expense ratio0.19%Fund size, ₹ Cr2,877Premium or discount+0.01%- SBI Nifty Bank ETFSBI Mutual FundTracking difference−0.26%After fee−0.06%Tracking error0.03%Expense ratio0.21%Fund size, ₹ Cr3,515Premium or discount0.00%
- Nippon India ETF Nifty Bank BeESNippon India Mutual FundTracking difference−0.27%After fee−0.08%Tracking error0.03%Expense ratio0.20%Fund size, ₹ Cr7,917Premium or discount+0.07%
- Axis Nifty Bank ETFAxis Mutual FundTracking difference−0.30%After fee−0.09%Tracking error0.04%Expense ratio0.25%Fund size, ₹ Cr291Premium or discount0.00%
Edelweiss Nifty Bank ETFEdelweiss Mutual FundTracking difference−0.30%After fee–Tracking error0.06%Expense ratio0.90%Fund size, ₹ Cr3Premium or discount+0.24%- Invesco India Nifty Bank ETFInvesco Mutual FundTracking difference–After fee–Tracking error0.09%Expense ratio3.28%Fund size, ₹ Cr6Premium or discount−0.05%
About Nifty Bank index funds and ETFs
Nifty Bank index funds and ETFs are funds that hold the banks in the Nifty Bank index, in the same weights, so that their return follows the index. The index covers at most 14 listed Indian banks and is maintained by NSE Indices.
What the index holds
The Nifty Bank is built from large, liquid private and public sector banks that trade on NSE. A bank must be in the Nifty 500 and have traded on at least 90% of days in the last six months. The final 14 are chosen by free-float market capitalisation (the value of the shares that can trade, after promoter holdings are taken out).
The largest bank is capped at 19%, the second at 14% and the third at 10%. Banks outside the futures and options segment share a cap of 10% and are held to 4.5% each.
Review dates
The index is rebalanced twice a year, on six months of data to 31 Jan and 31 Jul, with four weeks of notice. The index began on 15 Sep 2003, with a base date of 1 Jan 2000 and a base value of 1,000.
Index funds and ETFs
An index fund is bought from the fund house at the day's NAV (net asset value, the price of one unit). An ETF trades on the exchange at a market price that can differ from NAV. This page lists the two in separate tables and shows a premium or discount for ETFs only: the median, across the month's trading days, of each day's close divided by that day's NAV, less one.
Tracking difference and error
Tracking difference compares a year of the fund's return with the index's: the fund's less the index's, usually below zero because of costs. The after-fee figure adds back the year's average expense ratio, leaving the part of the gap the fee does not explain. Tracking error is the yearly spread of the daily differences.
How the page orders funds
Each table puts the tracking difference nearest zero first, and the lower expense ratio first where two are level. Fund size is assets under management in ₹ crore across all plans. A dash marks a figure that is not available for that fund.