EquitySectoral/ ThematicRegularGrowthVery High

DSP Banking & Financial Services Fund

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

As of 01 Oct 2026, the NAV of DSP Banking & Financial Services Fund is ₹13.89 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

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

DSP Banking & Financial Services Fund has returned +4.29% over 1 year and +12.23% 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 & Financial Services Fund?

DSP Banking & Financial Services Fund charges an expense ratio of 2.19% 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 & Financial Services Fund?

DSP Banking & Financial Services Fund's largest holdings are ICICI Bank Limited (9.9%), Axis Bank Limited (7.1%), Cholamandalam Investment and Finance Co Limited (5.5%), PB Fintech Limited (5.0%) and State Bank of India (4.8%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Banking & Financial Services Fund?

DSP Banking & Financial Services Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.9% and its worst peak-to-trough fall in our sample was -14.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of DSP Banking & Financial Services Fund?

DSP Banking & Financial Services Fund is benchmarked against the Nifty Financial Services TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Banking & Financial Services Fund?

DSP Banking & Financial Services Fund is managed by Preethi R S at DSP.

Q: How is DSP Banking & Financial Services Fund taxed?

DSP 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.

DSP Mutual Fund · Best Sectoral & Thematic Mutual Funds

NAV

₹13.89

-0.91% 1D

as of 01 Oct 2026

This is the Regular plan of DSP Banking & Financial Services Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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Performance

+5.22%CAGR

52-week rangePrev NAV ₹14.02

Latest ₹13.89

Low ₹12.5249th percentile of its 52-week rangeHigh ₹15.33

Scorecard

★★★☆☆3/5 vs 229 of 255 Sectoral/ Thematic peers1Y

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). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 229 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

RiskModerate

Volatility 16.9% vs 15.6% category avg

CostLow

2.2% expense vs 2.5% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

1-year return (+4.29%) beats the Sectoral/ Thematic average (+2.25%)
Low expense ratio (2.19%) vs the Sectoral/ Thematic average of 2.47%

Concerns

Trails the Sectoral/ Thematic average on 1M/3M/6M

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.19%

Category 2.47%▼0.28%

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

17.30

Category —

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

—

Category 0.34

Scheme Info

Definitions

Plan

Regular · Growth

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

None

(as a % of Applicable NAV): Holding period from the date of allotment: <= 1 month – 0.50% > 1 month – Nil Note: No exit load shall be levied in case of switch of investment from Regular Plan to Direct Plan and vice versa. In respect of Systematic Transactions such as SIP, STPs etc., Exit Load, if any, prevailing on the date of registration / enrolment shall be levied.

Up to 0.50%

tiered — see the full terms

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 Financial Services TRI

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.

11 Dec 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-7.97%

Absolute return over the last 3 months (not annualized)

-6.63%

Absolute return over the last 6 months (not annualized)

+8.37%

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

-2.34%

Annualized returns (≥1Y — CAGR)

Definitions

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

+4.29%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

+12.23%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

16.88%

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

—

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

—

Largest peak-to-trough decline over full history

-14.79%

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

6.54%

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

0.89

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

81.3%

Excess return per unit of beta (market risk)

6.94

Active return over the benchmark per unit of tracking error

0.96

Annualized std dev of fund-minus-benchmark returns

7.38%

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

104.1%

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

69.7%

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	-7.97%	-5.13%	-2.84%
3M abs	-6.63%	-2.33%	-4.30%
6M abs	+8.37%	+10.82%	-2.45%
1Y CAGR	+4.29%	+2.25%	+2.04%
3Y CAGR	—	+12.15%	—
5Y CAGR	—	+11.03%	—

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

1Y return

+4.29%

Beats 66.2% · rank #78

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.20L

Current value

₹1.18L

Absolute

-1.76%

XIRR

-3.81%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into DSP 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	-2.34%	-7.52%	+5.18%
2025	+21.79%	+18.31%	+3.48%
2024	+15.64%	+6.24%	+9.40%
2023part	+0.50%	—	—

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.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Fund manager change — now managed by Preethi R S; Shantanu Godambe, Sandeep Yadav stepped away
25 Sep 2026

History points

693

Expense ratio

2.19%

AUM

₹1,660Cr

Portfolio turnover

48%

Exit load

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

P/E ratio

17.3

P/B ratio

3.3

Avg market cap

₹3,06,313Cr

P/E & P/B are portfolio-weighted harmonic means across 25 of 32 equity holdings (79% 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


DSP Banking & Financial Services FundThis fund DSP · Regular · Growth	★★★☆☆ 1Y	+4.29%	—	—	—	2.19%	—
Nippon India Taiwan Equity Fund Nippon India · Regular · Growth	★★★★☆	+118.60%	+60.45%	—	—	2.34%	₹1,110Cr
HDFC Defence Fund HDFC · Regular · Growth	★★★★☆	+21.45%	+34.62%	—	—	1.79%	₹9,371Cr
HDFC Pharma and Healthcare Fund HDFC · Regular · Growth	★★★★★	+25.19%	+28.72%	—	—	2.11%	₹2,282Cr
Franklin Asian Equity Fund Franklin Templeton · Regular · Growth	★★★☆☆	+32.21%	+22.88%	+8.49%	—	2.47%	₹720.84Cr
Aditya Birla Sun Life International Equity Fund Aditya Birla Sun Life · Regular · Growth	★★★★☆	+17.38%	+21.97%	+12.58%	—	2.54%	₹320.62Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 99% of the equity sleeve priced.

Large cap52.7%
Mid cap21.5%
Small cap25.8%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.83%
Cash & Equivalents1.17%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

ICICI Bank Limited

9.94%

Axis Bank Limited

7.14%

Cholamandalam Investment and Finance Co Limited

5.51%

PB Fintech Limited

4.95%

State Bank of India

4.77%

Shriram Finance Limited

4.70%

Bajaj Finance Limited

4.44%

Kotak Mahindra Bank Limited

4.34%

Max Financial Services Limited

4.26%

Ujjivan Small Finance Bank Limited

4.20%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Baroda BNP Paribas Banking and Financial Services Fund Baroda BNP Paribas · Sectoral/ Thematic	67.8%	★★☆☆☆	1.09%	+12.83%
MahindraManulife Banking & Financial Services Fund Mahindra Manulife · Sectoral/ Thematic	67.3%	★★★☆☆	1.13%	—
Canara Robeco Banking and Financial Services Fund Canara Robeco · Sectoral/ Thematic	63.7%	—	1.05%	—
Edelweiss Financial Services Fund Edelweiss · Sectoral/ Thematic	62.8%	—	0.98%	—
Tata Banking & Financial Services Fund Tata · Sectoral/ Thematic	61.9%	★★★☆☆	0.93%	+10.02%
UTI - Banking and Financial Services Fund UTI · Sectoral/ Thematic	56.9%	★★☆☆☆	1.44%	+11.62%
Aditya Birla Sun Life Banking and Financial Services Fund Aditya Birla Sun Life · Sectoral/ Thematic	56.9%	★★☆☆☆	1.15%	+8.24%
LIC MF Banking and Financial Services Fund LIC · Sectoral/ Thematic	56.6%	★☆☆☆☆	1.57%	+5.82%

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 — 4.95% 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 I4.95%

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.

-14.8%26 Feb 2026 → 30 Mar 2026
Fell over 32 days, back to the old high on 01 Jul 2026 — 3 months under water after the low.
-11.9%23 Sep 2024 → 27 Jan 2025
Fell over 4 months, back to the old high on 21 Apr 2025 — 3 months under water after the low.
-9.4%31 Aug 2026 → 01 Oct 2026
Still below that high — 31 days 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

PSPreethi R SManaging since 01 Oct 2025

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Top holdings

ICICI Bank Limited Axis Bank Limited Cholamandalam Investment and Finance Co Limited PB Fintech Limited State Bank of India Shriram Finance Limited Bajaj Finance Limited Kotak Mahindra Bank Limited Max Financial Services Limited Ujjivan Small Finance Bank Limited Canara HSBC Life Insurance Co Limited HDFC Bank Limited

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 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 DSP Banking & Financial Services Fund?

As of 01 Oct 2026, the NAV of DSP Banking & Financial Services Fund is ₹13.89 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Banking & Financial Services Fund delivered?

DSP Banking & Financial Services Fund has returned +4.29% over 1 year and +12.23% 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 & Financial Services Fund?

DSP Banking & Financial Services Fund charges an expense ratio of 2.19% 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 DSP Banking & Financial Services Fund?

DSP Banking & Financial Services Fund's largest holdings are ICICI Bank Limited (9.9%), Axis Bank Limited (7.1%), Cholamandalam Investment and Finance Co Limited (5.5%), PB Fintech Limited (5.0%) and State Bank of India (4.8%). Holdings are disclosed monthly and change over time.

How risky is DSP Banking & Financial Services Fund?

DSP Banking & Financial Services Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.9% and its worst peak-to-trough fall in our sample was -14.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of DSP Banking & Financial Services Fund?

DSP Banking & Financial Services Fund is benchmarked against the Nifty Financial Services TRI. Its alpha and beta on this page are measured against that index.

Who manages DSP Banking & Financial Services Fund?

DSP Banking & Financial Services Fund is managed by Preethi R S at DSP.

How is DSP Banking & Financial Services Fund taxed?

DSP 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.