EquitySectoral/ ThematicRegularIDCWVery High

SBI Banking & Financial Services Fund

Q: What is the NAV of SBI Banking & Financial Services Fund?

As of 05 Oct 2026, the NAV of SBI Banking & Financial Services Fund is ₹37.13 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has SBI Banking & Financial Services Fund delivered?

SBI Banking & Financial Services Fund has returned -4.05% over 1 year, +13.37% per year over 3 years, +10.12% per year over 5 years and +11.76% 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 SBI Banking & Financial Services Fund?

SBI Banking & Financial Services Fund charges an expense ratio of 2.17% 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 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.

Q: 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.

Q: What does the Sharpe ratio of 0.44 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 0.44 means it has rewarded its volatility with excess return. Higher is better.

Q: Who manages SBI Banking & Financial Services Fund?

SBI Banking & Financial Services Fund is managed by Pradeep Kesavan and Milind Agrawal at SBI.

Q: 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.

SBI Mutual Fund · Best Sectoral & Thematic Mutual Funds

NAV

₹37.13

+0.18% 1D

as of 05 Oct 2026

This is the Regular plan of SBI Banking & Financial Services Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

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Performance

-4.88%absolute

52-week rangePrev NAV ₹37.07

Latest ₹37.13

Low ₹35.3826th percentile of its 52-week rangeHigh ₹42.21

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 Equity funds (same plan and option) to rank against yet.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

Risk—

Volatility 15.6% (no category average yet)

Cost—

2.2% expense (no category average yet)

ConsistencyHigh

93% 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

Consistent — positive in 93% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.17%

Category —

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

14.62

Category —

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

0.44

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

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

None

Exit Load

—

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

0.005%

SIP Inv.

—

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Benchmark

—

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.

05 Mar 2015

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.96%

Absolute return over the last 3 months (not annualized)

-6.93%

Absolute return over the last 6 months (not annualized)

+3.43%

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

-9.76%

Annualized returns (≥1Y — CAGR)

Definitions

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

-4.05%

3-year annualized return (CAGR)

+13.37%

5-year annualized return (CAGR)

+10.12%

10-year annualized return (CAGR)

+11.90%

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.

+11.76%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.63%

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

0.44

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

0.61

Largest peak-to-trough decline over full history

-43.85%

Benchmark ratios (vs Nifty Bank TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty Bank TRI

4.83%

Sensitivity to Nifty Bank TRI moves; 1 = moves with the index

0.81

How much of the fund's movement Nifty Bank TRI explains

87.3%

Excess return per unit of beta (market risk)

8.10

Active return over the benchmark per unit of tracking error

0.83

Annualized std dev of fund-minus-benchmark returns

6.16%

Fund's share of benchmark gains in up months (100 = matches index)

90.9%

Fund's share of benchmark losses in down months (lower is better)

61.8%

Computed vs the Nifty Bank TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Sectoral/ Thematic)

Period	Fund	Category avg.	Diff
1M abs	-4.96%	—	—
3M abs	-6.93%	—	—
6M abs	+3.43%	—	—
1Y CAGR	-4.05%	—	—
3Y CAGR	+13.37%	—	—
5Y CAGR	+10.12%	—	—

Category average across peers in Sectoral/ Thematic, 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

₹7.73L

Absolute

+28.90%

XIRR

+10.41%

Value vs. invested

ValueInvested

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	-9.76%	-6.82%	-2.94%
2025	+20.42%	+18.31%	+2.11%
2024	+19.57%	+6.24%	+13.33%
2023	+18.60%	+13.20%	+5.40%
2022	+13.52%	+21.83%	-8.31%
2021	+12.07%	+13.86%	-1.79%
2020	+4.86%	-2.33%	+7.19%
2019	+20.73%	+18.87%	+1.86%
2018	-1.66%	+6.83%	-8.49%
2017	+40.70%	+41.12%	-0.42%

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.

History points

2,862

Expense ratio

2.17%

AUM

₹10,818Cr

Portfolio turnover

162%

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

14.6

P/B ratio

2.8

Avg market cap

₹4,63,264Cr

P/E & P/B are portfolio-weighted harmonic means across 29 of 35 equity holdings (84% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This 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.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

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.

Peer comparison · Sectoral/ Thematic

Compare all


SBI Banking & Financial Services FundThis fund SBI · Regular · IDCW	—	-4.05%	+13.37%	+10.12%	—	2.17%	₹10,818Cr
Nippon India Taiwan Equity Fund Nippon India · Regular · IDCW	—	+125.07%	+61.55%	—	—	2.34%	₹1,100Cr
HDFC Defence Fund HDFC · Regular · IDCW	—	+19.02%	+34.59%	—	—	1.79%	₹11,128Cr
HDFC Pharma and Healthcare Fund HDFC · Regular · IDCW	—	+24.17%	+28.28%	—	—	2.11%	₹3,128Cr
Nippon India Japan Equity Fund Nippon India · Regular · IDCW	—	+28.99%	+22.97%	+10.76%	—	2.50%	₹347.48Cr
Franklin Asian Equity Fund Franklin Templeton · Regular · IDCW	—	+31.28%	+22.70%	+6.52%	—	2.47%	₹978.69Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap73.2%
Mid cap9.2%
Small cap17.6%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity90.41%
Cash & Equivalents9.54%
Debt0.05%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Tata Nifty Financial Services Index Fund Tata · Index Funds	55.5%	★☆☆☆☆	0.58%	—
UTI - Banking and Financial Services Fund UTI · Sectoral/ Thematic	54.9%	★★☆☆☆	1.44%	+11.96%
ICICI Prudential Banking & Financial Services Fund ICICI Prudential · Sectoral/ Thematic	53.5%	★★★☆☆	1.25%	+9.05%
Bandhan Financial Services Fund Bandhan · Sectoral/ Thematic	51.5%	★★★☆☆	0.98%	+13.98%
HDFC Banking & Financial Services Fund HDFC · Sectoral/ Thematic	50.3%	★★★☆☆	0.98%	+11.33%
Nippon India Banking & Financial Services Fund Nippon India · Sectoral/ Thematic	49.1%	★★★☆☆	1.07%	+10.48%
Canara Robeco Banking and Financial Services Fund Canara Robeco · Sectoral/ Thematic	48.7%	—	1.05%	—
Taurus Banking & Financial Services Fund Taurus · Sectoral/ Thematic	48.4%	★★☆☆☆	1.84%	+7.08%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.72% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I0.72%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

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.

-43.9%20 Feb 2020 → 23 Mar 2020
Fell over 32 days, back to the old high on 17 Dec 2020 — 9 months under water after the low.
-23.1%05 Mar 2015 → 25 Feb 2016
Fell over 12 months, back to the old high on 30 May 2016 — 3 months under water after the low.
-22.0%26 Oct 2021 → 07 Mar 2022
Fell over 4 months, back to the old high on 13 Dec 2022 — 9 months under water after the low.

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.

Fund size over time

Quarterly average AUM · AMFI

₹10,818Cr

July - September 2026

+5%

since January - March 2026

At or near its largest, ₹10,818Cr in July - September 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

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.

Launched

28 Jun 1987

Total AUM

₹13,09,607Cr+4.2% QoQ

Avg AUM · July - September 2026

Website

sbimf.com

Fund Managers

PKPradeep KesavanManaging since 01 Dec 2023

Education

B.com, MBA (Finance), CFA (USA)

Experience

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

Funds managed (6)

All schemes Pradeep Kesavan runs →

MAMilind AgrawalManaging since 01 Aug 2019

Role

Fund Manager

Experience

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)

Funds managed (1)

SBI CONSERVATIVE HYBRID FUND

All schemes Milind Agrawal 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

Pradeep Kesavan Milind Agrawal

Top holdings

HDFC Bank Ltd.ICICI Bank Ltd.Kotak Mahindra Bank Ltd.Bajaj Finance Ltd.State Bank of India HDFC Life Insurance Company Ltd.Muthoot Finance Ltd.One 97 Communications Ltd.Bank of Baroda Cholamandalam Investment & Finance Co. Ltd.ICICI Prudential Life Insurance Company Ltd.Cholamandalam Financial Holdings Ltd.

SBI 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 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.

Frequently asked questions

What is the NAV of SBI Banking & Financial Services Fund?

As of 05 Oct 2026, the NAV of SBI Banking & Financial Services Fund is ₹37.13 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 -4.05% over 1 year, +13.37% per year over 3 years, +10.12% per year over 5 years and +11.76% 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 2.17% 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 0.44 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 0.44 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.