SBI Banking & Financial Services Fund
This is the Direct plan of SBI Banking & Financial Services Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★☆☆3/5 vs 142 of 255 Sectoral/ Thematic peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Sectoral/ Thematic (same plan and option). 142 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +14.19% · ranks 61 of 142 Sectoral/ Thematic funds
Volatility 15.6% vs 15.7% category avg
1.2% expense vs 1.3% category avg
100% 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
- 3-year return (+14.19%) beats the Sectoral/ Thematic average (+13.44%)
- Stronger risk-adjusted returns — Sharpe 0.49 vs 0.42 Sectoral/ Thematic average
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- Trails the Sectoral/ Thematic average on 3M/6M/1Y — 1Y by 6.43pp
- 5-year return (+11.59%) trails the Sectoral/ Thematic average (+12.27%)
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Sectoral/ Thematic)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -4.69% | -5.04% | +0.35% |
| 3M abs | -6.44% | -2.04% | -4.40% |
| 6M abs | +3.54% | +11.50% | -7.96% |
| 1Y CAGR | -2.89% | +3.54% | -6.43% |
| 3Y CAGR | +14.19% | +13.44% | +0.75% |
| 5Y CAGR | +11.59% | +12.27% | -0.68% |
Category average across peers in Sectoral/ Thematic (254 of 255 carry a figure for at least one period), 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.
Category rank
Vs 255 peers in Sectoral/ Thematic
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into SBI Banking & Financial Services 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 | Nifty Bank TRI | Diff | |
|---|---|---|---|---|
| 2026part | -9.24% | -7.52% | -1.72% | |
| 2025 | +21.66% | +18.31% | +3.35% | |
| 2024 | +20.90% | +6.24% | +14.66% | |
| 2023 | +19.95% | +13.20% | +6.75% | |
| 2022 | +14.87% | +21.83% | -6.96% | |
| 2021 | +13.46% | +13.86% | -0.40% | |
| 2020 | +6.05% | -2.33% | +8.38% | |
| 2019 | +21.95% | +18.87% | +3.08% | |
| 2018 | +11.06% | +6.83% | +4.23% | |
| 2017 | +42.32% | +41.12% | +1.20% |
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; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
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.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity90.41%
- Cash & Equivalents9.54%
- Debt0.05%
AMC Profile
SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.
Fund Managers
PKPradeep KesavanManaging since 01 Dec 2023
B.com, MBA (Finance), CFA (USA)
Mr. Pradeep Kesavan joined SBIFML in July 2021. He has over 18 years of experience in financial services sector. Prior to joining SBIFML, he was associated with following entities-: Elara Securities Private Limited (from September 2017 to April 2021) –Primarily involved in top down equity strategy Accenture Solutions Private Limited (from October 2013 to August 2017) – Responsible for Strategy Consulting. Morgan Stanley India Private Limited (from March 2005 to September 2013) – Primarily responsible for corporate finance strategy. He is the dedicated Fund Manager for managing overseas investments of the Schemes of SBI Mutual Fund which have a mandate to invest in overseas securities and also managing
MAMilind AgrawalManaging since 01 Aug 2019
Fund Manager
Milind joined SBI Funds Management Limited in May 2018 as an Equity Research Analyst. He has an experience of over 9 years in the Financial services industry. Before joining SBIFMPL, he had worked with Goldman Sachs Services Pvt. Ltd. as an Equity Research Analyst for 6 years. Prior to that, he was a Foreign Exchange Research Analyst at Vadilal Enterprises Ltd. He is currently managing SBI Banking & Financial Services Fund SBI Conservative Hybrid Fund (Equity portion)
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.
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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 Sectoral & Thematic funds
Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.
From the blog
Frequently asked questions
What is the NAV of SBI Banking & Financial Services Fund?
As of 01 Oct 2026, the NAV of SBI Banking & Financial Services Fund is ₹46.65 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has SBI Banking & Financial Services Fund delivered?
SBI Banking & Financial Services Fund has returned -2.89% over 1 year, +14.19% per year over 3 years, +11.59% per year over 5 years and +14.00% 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 SBI Banking & Financial Services Fund?
SBI Banking & Financial Services Fund charges an expense ratio of 1.19% 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 SBI Banking & Financial Services Fund?
SBI Banking & Financial Services Fund's largest holdings are HDFC Bank Ltd. (13.5%), ICICI Bank Ltd. (10.8%), Kotak Mahindra Bank Ltd. (9.8%), Bajaj Finance Ltd. (7.5%) and State Bank of India (4.9%). Holdings are disclosed monthly and change over time.
How risky is SBI Banking & Financial Services Fund?
SBI Banking & Financial Services Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.6% and its worst peak-to-trough fall in our sample was -43.8%. 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 0.49 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Banking & Financial Services Fund's 0.49 means it has rewarded its volatility with excess return. Higher is better.
Who manages SBI Banking & Financial Services Fund?
SBI Banking & Financial Services Fund is managed by Pradeep Kesavan and Milind Agrawal at SBI.
How is SBI Banking & Financial Services Fund taxed?
SBI Banking & Financial Services Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.