Nifty PSU Bank index funds and ETFs

7 index funds and ETFs track the Nifty PSU Bank, as each fund house reported for Sep 2026. Closest to the index over the year: DSP Nifty PSU 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.

ETFs on the Nifty PSU 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.

  • DSP Mutual Fund logoDSP Nifty PSU Bank ETFDSP Mutual FundTracking difference−0.14%After fee+0.34%Tracking error0.06%Expense ratio0.16%Fund size, ₹ Cr1,434Premium or discount+0.03%
  • Mirae Asset Mutual Fund logoMirae Asset Nifty PSU Bank ETFMirae Asset Mutual FundTracking difference−0.26%After fee−0.02%Tracking error0.08%Expense ratio0.31%Fund size, ₹ Cr45Premium or discount+0.05%
  • HDFC Mutual Fund logoHDFC Nifty PSU Bank ETFHDFC Mutual FundTracking difference−0.41%After fee−0.08%Tracking error0.07%Expense ratio0.28%Fund size, ₹ Cr55Premium or discount−0.22%
  • ICICI Prudential Mutual Fund logoICICI Prudential Nifty PSU Bank ETFICICI Prudential Mutual FundTracking difference−0.47%After fee−0.07%Tracking error0.08%Expense ratio0.41%Fund size, ₹ Cr119Premium or discount−0.15%
  • Nippon India Mutual Fund logoNippon India ETF Nifty PSU Bank BeESNippon India Mutual FundTracking difference−0.56%After fee−0.06%Tracking error0.08%Expense ratio0.51%Fund size, ₹ Cr3,932Premium or discount−0.01%
  • Kotak Mahindra Mutual Fund logoKotak Nifty PSU Bank ETFKotak Mahindra Mutual FundTracking difference−0.58%After fee−0.08%Tracking error0.08%Expense ratio0.51%Fund size, ₹ Cr2,477Premium or discount−0.07%
  • Groww Mutual Fund logoGroww Nifty PSU Bank ETFGroww Mutual FundTracking difference–After fee–Tracking error0.31%Expense ratio0.49%Fund size, ₹ Cr6Premium or discount+0.22%

About Nifty PSU Bank index funds and ETFs

Nifty PSU Bank index funds and ETFs are funds that hold the public sector banks of the Nifty PSU Bank index in the index's own weights, so their return follows the index less costs. This page shows each fund's tracking difference, tracking error, expense ratio and fund size.

The index they track

NSE Indices maintains the Nifty PSU Bank. A public sector bank here is one in which the central or state governments hold at least 51% of the shares. The index held 12 banks at 30 Sep 2026. Weights follow free float market capitalization, which leaves out shares held by the government, so a bank counts only by the value of the shares that trade. One bank is capped at 33% and the top three together at 62%. Reviews are twice a year, with cut-off dates of 31 Jan and 31 Jul. Its base is 1000 on 1 Jan 2004, and it launched on 30 Aug 2007.

Concentration in a few banks

A fund on this index is far less spread out than one on a broad index. Every fund here holds the same banks, so cost and closeness to the index separate them.

ETFs

An ETF is listed on the exchange and trades through a broker at a market price that can sit above or below NAV, the value of one unit. The premium or discount column shows the median, across the month's trading days, of each day's close divided by that day's NAV, less one.

Tracking difference and tracking error

Tracking difference is the fund's one-year return less the index's. Costs make it negative, so the figure nearest nought is the closest to the index. The after fee figure adds the year's average expense ratio back. Tracking error is how much the fund's daily returns differed from the index's, stated as a yearly figure.

Expense ratio, fund size and order

The expense ratio is the yearly charge as a share of money invested. It is taken out of NAV daily. Fund size is assets under management across all plans at month-end. The table puts the fund closest to the index first, then the lowest expense ratio.