SBI Equity Minimum Variance Fund
This is the Direct plan of SBI Equity Minimum Variance 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 +6.06% · ranks 130 of 142 Sectoral/ Thematic funds
Volatility 11.6% vs 15.7% category avg
0.5% 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
- Less volatile than its Sectoral/ Thematic peers (11.6% vs 15.7%)
- Low expense ratio (0.53%) vs the Sectoral/ Thematic average of 1.27%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- Trails the Sectoral/ Thematic average on 1M/3M/6M/1Y — 1Y by 9.66pp
- 3-year return (+6.06%) trails the Sectoral/ Thematic average (+13.85%)
- 5-year return (+6.95%) trails the Sectoral/ Thematic average (+12.09%)
- Ranks #193 of 229 on 1-year return in its Sectoral/ Thematic cohort
- Weaker risk-adjusted returns — Sharpe -0.04 below the Sectoral/ Thematic average of 0.45
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 | -5.08% | -4.47% | -0.61% |
| 3M abs | -7.62% | -2.30% | -5.32% |
| 6M abs | +2.18% | +12.10% | -9.92% |
| 1Y CAGR | -6.23% | +3.43% | -9.66% |
| 3Y CAGR | +6.06% | +13.85% | -7.79% |
| 5Y CAGR | +6.95% | +12.09% | -5.14% |
Category average across peers in Sectoral/ Thematic (up to 255 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 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 Equity Minimum Variance 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 500 TRI | Diff | |
|---|---|---|---|---|
| 2026part | -9.67% | -7.18% | -2.49% | |
| 2025 | +7.43% | +7.94% | -0.51% | |
| 2024 | +8.40% | +16.43% | -8.03% | |
| 2023 | +28.44% | +27.43% | +1.01% | |
| 2022 | +6.52% | +4.34% | +2.18% | |
| 2021 | +24.35% | +31.59% | -7.24% | |
| 2020 | +24.75% | +18.33% | +6.42% | |
| 2019part | +3.19% | — | — |
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- Equity99.12%
- Cash & Equivalents0.88%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹212.09Cr 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
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
RSRaviprakash SharmaStart date not disclosed
Chief Dealer (Equity) Fund Manager
B.Com, C.A., CFA Charter Holder (CFA Institute, USA)
Mr. Sharma has over 26 years experience in Indian capital markets in various capacities including Portfolio Management and Dealing in equity shares on behalf of clients. He joined SBI Funds Management Limited in January • From April 2007 to Jan 2011- as Sr. Manager - Portfolio Management Services with HDFC Asset Management Co. Ltd. • From July 2006 to April 2007 - as financial advisor with Citigroup Wealth Advisors India Pvt. Ltd. • From Dec 2004 – July 2006 – as AVP - Non-Discretionary PMS with Kotak Securities Ltd. • From Nov 2003 to Nov 2004- as AVP - Fixed Income Group with Times Investors Services Pvt. Ltd., Mumbai. • From Nov 1999 to Nov 2003 as Manager - Fixed Income Group with Birla Sun Life Securities Ltd. Presently, he is Chief Equity dealer & managing SBI Nifty Index Fund, SBI BSE Sensex ETF, SBI Gold Fund, SBI Nifty Bank ETF, SBI BSE 100 ETF, SBI Nifty Next 50 ETF, SBI Nifty 50 ETF, SBI BSE Sensex Next 50 ETF, SBI NIFTY 200 Quality 30 ETF, SBI Equity Minimum Variance Fund, SBI Nifty Next 50 Index Fund and
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 Equity Minimum Variance Fund?
As of 05 Oct 2026, the NAV of SBI Equity Minimum Variance Fund is ₹22.91 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has SBI Equity Minimum Variance Fund delivered?
SBI Equity Minimum Variance Fund has returned -6.23% over 1 year, +6.06% per year over 3 years, +6.95% per year over 5 years and +11.73% 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 Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund charges an expense ratio of 0.53% 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 Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund's largest holdings are Sun Pharmaceutical Industries Ltd. (8.5%), Nestle India Ltd. (8.3%), Apollo Hospitals Enterprise Ltd. (8.2%), Hindustan Unilever Ltd. (5.7%) and Tata Consumer Products Ltd. (4.9%). Holdings are disclosed monthly and change over time.
How risky is SBI Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.6% and its worst peak-to-trough fall in our sample was -33.0%. 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 -0.04 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Equity Minimum Variance Fund's -0.04 means it has not compensated investors for its volatility over the window. Higher is better.
What is the benchmark of SBI Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund is benchmarked against the Nifty 50 TRI. Its alpha and beta on this page are measured against that index.
Who manages SBI Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund is managed by Raviprakash Sharma at SBI.
How is SBI Equity Minimum Variance Fund taxed?
SBI Equity Minimum Variance 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.