The number
The ten Sensex index funds with a year's record returned between −9.68% and −10.24% in the year to 6 October 2026. Their median was −9.95%. The median Nifty 50 index fund lost 8.35%.
The Sensex is BSE's index of 30 large companies; the Nifty 50 is NSE's of 50. The two overlap heavily, but this year the funds tracking the narrower index did worse.
All figures are for the Direct plan, Growth option, computed from daily NAVs to 6 October 2026. Returns over a year are compounded annual rates.
Sensex funds against Nifty 50 funds
| Period | Sensex index funds | Nifty 50 index funds |
|---|---|---|
| 1 month | −4.53% | −4.70% |
| 3 months | −6.47% | −6.53% |
| 2026 so far | −13.68% | −12.14% |
| 1 year | −9.95% | −8.35% |
| 3 years (a year) | 4.36% | 6.03% |
| 5 years (a year) | 5.30% | 6.21% |
| 10 years (a year) | 10.95% | 11.03% |
| Worst 3-year fall | 16.09% | 15.51% |
Medians of Direct Growth funds: 10 Sensex funds have a one-year record, eight a three-year, five a five-year and four a ten-year; the Nifty 50 column has 24, 17, 15 and 10. Over the last three months the two moved together. Over three years the Sensex funds trailed by 1.67 points a year; over ten years by 0.08.
The 12 Sensex index funds
| Fund | TER | Assets (₹ crore) | 1 year | 3 years | 5 years | 10 years |
|---|---|---|---|---|---|---|
| Axis | 0.21% | 53.90 | −9.68% | — | — | — |
| Nippon India | 0.21% | 925.19 | −9.93% | 4.40% | 5.33% | 11.02% |
| HDFC | 0.22% | 8,484.10 | −9.97% | 4.39% | 5.31% | 11.00% |
| ICICI Prudential | 0.22% | 1,840.98 | −9.94% | 4.41% | 5.30% | — |
| UTI | 0.23% | 194.20 | −9.91% | 4.40% | — | — |
| SBI | 0.24% | 302.37 | −10.04% | 4.33% | — | — |
| Kotak | 0.29% | 23.97 | −10.01% | — | — | — |
| Tata | 0.33% | 386.12 | −10.02% | 4.29% | 5.21% | 10.89% |
| Zerodha | 0.47% | 18.86 | — | — | — | — |
| Navi | 0.50% | 19.05 | −9.91% | 4.34% | — | — |
| LIC MF | 0.66% | 91.05 | −10.24% | 4.13% | 5.12% | 10.65% |
| Invesco India | 0.77% | 18.34 | — | — | — | — |
TER is the latest Direct-plan expense ratio. Assets are AMFI's average for July–September 2026, all plans together. Zerodha's fund started in November 2025 and Invesco India's in May 2026, so neither has a year's record.
What the table says
The spread is small and cost explains the tail. Over three years the eight funds with a record sit within 0.28 points a year of each other. LIC MF, the most expensive of the long-running funds at 0.66%, is last over one, three, five and ten years. Over ten years ₹10 lakh in Nippon India's fund grew to about ₹28.44 lakh and in LIC MF's to about ₹27.51 lakh, a gap of roughly ₹93,000.
Today's TER is a snapshot. Navi charges 0.50% now, yet its one-year return (−9.91%) is second only to Axis's. A fund's current fee says little about what it charged earlier in the period.
The money sits in one fund. HDFC's fund averaged ₹8,484 crore, 69% of the ₹12,358 crore in the twelve. It is not the cheapest; Axis and Nippon India charge 0.01 point less.
The Sensex Next 30 funds
Two younger index funds track the BSE Sensex Next 30, a separate index of thirty large companies outside the Sensex. DSP's (TER 0.42%) returned 2.67% over the year and Nippon India's (0.45%) 2.62%, while the Sensex funds lost about 10%. They hold different companies, so they are not a substitute for a Sensex fund, and both are under two years old.
What this does not tell you
We have no daily Sensex series. The tracking-error figure on these funds' pages is measured against the Nifty 50 TRI, so it shows how far the Sensex sits from the Nifty 50, not how closely each fund follows the Sensex. Comparing the funds with each other, as above, is the fairer test.
ETFs are left out. They trade on the exchange at a market price. The largest Sensex fund of any kind is one: SBI BSE Sensex ETF averaged ₹1,21,079 crore in July–September.
Past returns are a record, not a forecast.
Where to go from here
The index fund list has every fund's page. For the same comparison on other indices, see Nifty Next 50 index funds compared and Nifty 50 index funds: tracking error and the cost gap. The guides to index funds and ETFs and tracking error explain what to compare.
Frequently asked questions
Which Sensex index fund has the lowest expense ratio?
Among Direct plans, Axis and Nippon India at 0.21% a year, then HDFC and ICICI Prudential at 0.22%, from the TERs disclosed at the end of September and start of October 2026. The most expensive were Invesco India at 0.77% and LIC MF at 0.66%.
How have Sensex index funds performed?
The median Sensex index fund (Direct plan, Growth option) lost 9.95% in the year to 6 October 2026 and returned 4.36% a year over three years. Over ten years the four funds with a record returned 10.65% to 11.02% a year.
Have Sensex index funds done better or worse than Nifty 50 index funds?
Worse over the last one and three years: the median Nifty 50 index fund lost 8.35% over the year and returned 6.03% a year over three, against −9.95% and 4.36% for Sensex funds. Over ten years they were almost level, 11.03% and 10.95% a year.
This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are as of the dates stated and can be revised by their source.
Keep reading
Nifty Next 50 index funds compared: returns and costs
The Nifty Next 50 rose 1.31% in a year as the Nifty 50 fell 9.72%. The 17 index funds tracking it: 3-year returns of 15.47–15.90%, costs from 0.20%.
Are smart beta funds worth it? What the data shows
Factor index funds cost up to three times a Nifty 50 fund. Over three years to October 2026 most beat it, but momentum funds fell twice as far on the way.
Direct vs regular plans: the 1.16-point equity fee gap
A regular equity plan costs a median 1.16 points a year more than its direct twin, on AMFI's September 2026 data. Over ten years, direct ended 10.2% ahead.