DSP Equity Savings Fund
This is the Direct plan of DSP Equity Savings 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.
NAV history
Scorecard
★★★☆☆3/5 vs 20 of 22 Equity Savings 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 Equity Savings (same plan and option). 20 of the 22 Equity Savings funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +8.25% · ranks 10 of 20 Equity Savings funds
Volatility 3.5% vs 4.6% category avg
1.1% 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
- Stronger risk-adjusted returns — Sharpe 0.51 vs 0.37 Equity Savings average
- Less volatile than its Equity Savings peers (3.5% vs 4.6%)
- Low expense ratio (1.11%) vs the Equity Savings average of 1.32%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- Trails the Equity Savings average on 3M/6M/1Y — 1Y by 1.98pp
- Ranks #20 of 23 on 1-year return in its Equity Savings cohort
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Equity Savings)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -0.89% | -1.29% | +0.40% |
| 3M abs | -1.44% | -0.28% | -1.16% |
| 6M abs | +1.94% | +4.39% | -2.45% |
| 1Y CAGR | +1.41% | +3.39% | -1.98% |
| 3Y CAGR | +8.25% | +8.39% | -0.14% |
| 5Y CAGR | +7.25% | +7.56% | -0.31% |
Category average across peers in Equity Savings (up to 22 funds with data), 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 22 peers in Equity Savings
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 DSP Equity Savings 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 | -0.51% | |
| 2025 | +7.13% | |
| 2024 | +13.04% | |
| 2023 | +13.17% | |
| 2022 | +5.42% | |
| 2021 | +14.50% | |
| 2020 | +9.43% | |
| 2019 | +8.89% | |
| 2018 | +0.15% | |
| 2017 | +17.17% |
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.
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- Equity70.51%
- Debt26.04%
- Cash & Equivalents1.68%
Fund size over time
Quarterly average AUM · AMFIDown +7% from its peak of ₹3,788Cr in January - March 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.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
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.
Fund Managers
SGShantanu GodambeStart date not disclosed
CFA, MS(Finance), B.Com
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
- DSP Aggressive Hybrid Fund
- DSP Banking and PSU Debt Fund
- DSP Corporate Bond Fund
- DSP CRISIL-IBX 50:50 Gilt Plus SDL - April 2033 Index Fund
- DSP Dynamic Asset Allocation Fund
- DSP Floating Interest Rates Fund
- DSP Gilt Fund
- DSP Multi Asset Allocation Fund
- DSP Nifty SDL Plus G-Sec Jun 2028 30:70 Index Fund
- DSP Nifty SDL Plus G-Sec Sep 2027 50:50 Index Fund
- DSP Short Term Fund
- DSP Conservative Hybrid Fund - Direct Plan - Growth
- DSP Dynamic Term Fund - Direct Plan - Growth
- DSP Overnight Fund - Direct Plan - Growth
KNKaivalya NadkarniManaging since 01 Oct 2024
Charted Accountant (CA), B.Com.
Over 6 years of experience as detailed under: From Sept 2024 to Present - Equity Dealing - DSP Asset Managers Private Limited From Sept 2018 to August 2024 - Equity Dealing, Fund Management & Fund Accounting - ICICI Prudential AMC
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- DSP Income Plus Arbitrage Omni FoF - Direct Plan - Growth
- DSP US Specific Debt Passive FoF - Direct Plan - Growth
- DSP US Specific Equity Omni FoF - Direct Plan - Growth
- DSP World Gold Mining Overseas Equity Omni FoF - Direct Plan - Growth
- DSP World Mining Overseas Equity Omni FoF - Direct Plan - Growth
ASAbhishek SinghStart date not disclosed
B-Tech, IIT Kanpur PGDM, IIM Lucknow
Over 18 years of experience as under: From April 1, 2023 onwards- Fund manager- DSP Asset Managers Private Limited From May 1, 2021 to March 31, 2023- Fund manager- DSP Investment Managers Private Limited From Jan 2021 to April 30, 2021 - DSP Investment Managers Private Limited – Investments – Equities From April 2018 to December 2020- EdelCap Securities Limited, Systematic Trading Division. From October 2015 – February 2018 – Kotak Securities Limited, Proprietary Trading and Structured Products Division. From April 2010 to October 2015 – Kotak Mahindra Investments Limited, Structured Products Division
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 Equity Savings funds
Equity savings funds split money across equity, arbitrage and debt. The hedged portion lowers risk, so they sit between hybrid and debt funds on the risk ladder while keeping equity taxation.
From the blog
Frequently asked questions
What is the NAV of DSP Equity Savings Fund?
As of 05 Oct 2026, the NAV of DSP Equity Savings Fund is ₹24.95 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has DSP Equity Savings Fund delivered?
DSP Equity Savings Fund has returned +1.41% over 1 year, +8.25% per year over 3 years, +7.25% per year over 5 years and +9.03% 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 Equity Savings Fund?
DSP Equity Savings Fund charges an expense ratio of 1.11% 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 Equity Savings Fund?
DSP Equity Savings Fund's largest holdings are HDFC Bank Limited (4.7%), Axis Bank Limited (3.4%), Reliance Industries Limited (3.1%), 6.75% GOI FRB 22092033 (2.8%) and ICICI Bank Limited (2.4%). Holdings are disclosed monthly and change over time.
How risky is DSP Equity Savings Fund?
DSP Equity Savings Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 3.5% and its worst peak-to-trough fall in our sample was -18.9%. 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 0.51 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Equity Savings Fund's 0.51 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of DSP Equity Savings Fund?
DSP Equity Savings Fund is benchmarked against the Nifty Equity Savings Index. Its alpha and beta on this page are measured against that index.
Who manages DSP Equity Savings Fund?
DSP Equity Savings Fund is managed by Shantanu Godambe, Kaivalya Nadkarni and Abhishek Singh at DSP.
How is DSP Equity Savings Fund taxed?
DSP Equity Savings 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.