DebtBanking and PSU FundDirectIDCWLow to Moderate

DSP Banking and PSU Debt Fund

Q: What is the NAV of DSP Banking and PSU Debt Fund?

As of 05 Oct 2026, the NAV of DSP Banking and PSU Debt Fund is ₹10.13 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Banking and PSU Debt Fund delivered?

DSP Banking and PSU Debt Fund has returned -0.54% over 1 year, -0.10% per year over 3 years, -0.02% per year over 5 years and +0.09% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund charges an expense ratio of 0.34% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund's largest holdings are 6.94% GOI 11052036 (6.2%), Punjab National Bank (5.9%), HDFC Bank Limited (3.9%), Bharti Telecom Limited (3.2%) and GAIL (India) Limited (3.2%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.9% and its worst peak-to-trough fall in our sample was -6.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -3.49 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Banking and PSU Debt Fund's -3.49 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund is benchmarked against the Nifty Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund is managed by Shantanu Godambe and Sandeep Yadav at DSP.

Q: How is DSP Banking and PSU Debt Fund taxed?

DSP Banking and PSU Debt Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

DSP Mutual Fund · Best Banking & PSU Mutual Funds

NAV

₹10.13

+0.09% 1D

as of 05 Oct 2026

This is the Direct plan of DSP Banking and PSU Debt Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed weekly, which is why this NAV sits below the growth plan of the same fund.

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This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+6.79% 3Y CAGR)

NAV history

-0.67%absolute

52-week rangePrev NAV ₹10.12

Latest ₹10.13

Low ₹10.0827th percentile of its 52-week rangeHigh ₹10.26

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Banking and PSU Fund peers to rank yet

Risk—

Volatility 1.9% (no category average yet)

Cost—

0.3% expense (no category average yet)

ConsistencyLow

47% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

No standout strengths identified.

Concerns

Positive in only 47% of rolling 3-year windows

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.34%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

-3.49

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

Nifty Banking & PSU Debt Index A-II

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

16 Sep 2013

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-0.21%

Absolute return over the last 3 months (not annualized)

-0.53%

Absolute return over the last 6 months (not annualized)

+0.48%

Absolute return since 1 Jan of this year (not annualized)

-0.64%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-0.54%

3-year annualized return (CAGR)

-0.10%

5-year annualized return (CAGR)

-0.02%

10-year annualized return (CAGR)

-0.31%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+0.09%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.89%

Excess return per unit of total volatility (rf = 6.5%)

-3.49

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

-3.89

Largest peak-to-trough decline over full history

-6.11%

Benchmark ratios

Not shown for Banking and PSU Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Banking and PSU Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.21%	—	—
3M abs	-0.53%	—	—
6M abs	+0.48%	—	—
1Y CAGR	-0.54%	—	—
3Y CAGR	-0.10%	—	—
5Y CAGR	-0.02%	—	—

Category average across peers in Banking and PSU Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹5.98L

Absolute

-0.33%

XIRR

-0.13%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into DSP Banking and PSU Debt Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	-0.64%
2025	+0.20%
2024	0.00%
2023	+0.08%
2022	+0.06%
2021	0.00%
2020	+0.04%
2019	-1.07%
2018	+0.43%
2017	-0.91%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

3,159

Expense ratio

0.34%

AUM

₹3,691Cr

YTM

7.26%

Modified duration

3.16 years

Macaulay duration

3.37 years

Average maturity

5.48 years

Exit load

Nil

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Banking and PSU Fund

Compare all


DSP Banking and PSU Debt FundThis fund DSP · Direct · Weekly IDCW	—	-0.54%	-0.10%	-0.02%	—	0.34%	—
UTI Banking & PSU Debt Fund UTI · Direct · Discontinued · Flexi IDCW	—	+6.00%	+7.43%	+7.77%	—	—	—
UTI Banking & PSU Debt Fund UTI · Direct · Discontinued · Quarterly IDCW	—	+6.00%	+7.43%	+7.56%	—	0.24%	—
UTI Banking & PSU Debt Fund UTI · Direct · Half-Yearly IDCW	—	+6.00%	+7.43%	+7.77%	—	0.24%	—
LIC MF Banking & PSU Debt Fund LIC · Direct · Monthly IDCW	—	+5.00%	+7.24%	+6.30%	—	0.28%	—
SBI Banking & PSU Debt Fund SBI · Direct · IDCW	—	+4.92%	+7.11%	+6.15%	—	0.41%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt99.77%
Cash & Equivalents0.23%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Punjab National Bank

5.91%

HDFC Bank Limited

3.91%

Bharti Telecom Limited

3.23%

GAIL (India) Limited

3.21%

Bharti Telecom Limited

3.17%

Export-Import Bank Of India

3.13%

Small Industries Development Bank Of India

3.10%

Small Industries Development Bank Of India

3.06%

Bank of Baroda

2.97%

HDFC Bank Limited

2.46%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-6.1%23 Nov 2016 → 23 Mar 2020
Still below that high — 3.3 years down, and no recovery yet.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

DSP Mutual Fund is run by DSP Asset Managers, part of the DSP Group, a Mumbai financial firm whose broking lineage runs back to 1860. The house operated as a joint venture with BlackRock — and Merrill Lynch before it — until the DSP family bought out the foreign stake in 2018.

Launched

15 Dec 1996

Total AUM

₹2,29,802Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

dspim.com

Fund Managers

SGShantanu GodambeStart date not disclosed

Education

CFA, MS(Finance), B.Com

Experience

Over 17 years of experience From March 2023 Onwards: Vice President (Investments - Fixed Income) - DSP Asset Managers Private Limited From January 2016-February 2023: Group Executive Vice President – Financial Markets - Plus SDL – April 2033 Index Yes Bank Ltd From November 2008-January 2016: Head – SLR Desk - Prebon Yamane India Ltd

Funds managed (14)

All schemes Shantanu Godambe runs →

SYSandeep YadavStart date not disclosed

Experience

Over 22 years of Experience: From April 01, 2023 onwards- Head Fixed Income- DSP Asset Managers Private Limited From September 02, 2021 to March 31, 2023- Head Fixed Income- DSP Investment Managers Private Limited From Jan 2006- Aug 2021 – Yes Bank Ltd- Head Primary Dealership and Fixed Income Trading. From Apr 2004- Sep 2005- Cognizant Technology Solutions- Senior Business Analyst From Jan 2001- Apr 2002- Hughes Software Solutions- Software Engineer From Aug 2000 – Jan 2001- Mahindra British Telecom- Trainee Software Engineer

Funds managed (1)

DSP Gilt Fund

All schemes Sandeep Yadav runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Shantanu Godambe Sandeep Yadav

DSP in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Banking & PSU funds

Banking and PSU funds must keep at least 80% in the debt of banks, public sector undertakings, public financial institutions and municipal bonds. That issuer restriction is the category: it targets high-rated, quasi-sovereign borrowers, so credit risk is low and the main risk left is interest rates.

Frequently asked questions

What is the NAV of DSP Banking and PSU Debt Fund?

As of 05 Oct 2026, the NAV of DSP Banking and PSU Debt Fund is ₹10.13 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Banking and PSU Debt Fund delivered?

DSP Banking and PSU Debt Fund has returned -0.54% over 1 year, -0.10% per year over 3 years, -0.02% per year over 5 years and +0.09% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund charges an expense ratio of 0.34% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund's largest holdings are 6.94% GOI 11052036 (6.2%), Punjab National Bank (5.9%), HDFC Bank Limited (3.9%), Bharti Telecom Limited (3.2%) and GAIL (India) Limited (3.2%). Holdings are disclosed monthly and change over time.

How risky is DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.9% and its worst peak-to-trough fall in our sample was -6.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of -3.49 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Banking and PSU Debt Fund's -3.49 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund is benchmarked against the Nifty Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Who manages DSP Banking and PSU Debt Fund?

DSP Banking and PSU Debt Fund is managed by Shantanu Godambe and Sandeep Yadav at DSP.

How is DSP Banking and PSU Debt Fund taxed?

DSP Banking and PSU Debt Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.