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DSP Msci India ETF

Q: What is the NAV of DSP Msci India ETF?

As of 05 Oct 2026, the NAV of DSP Msci India ETF is ₹27.75 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Msci India ETF delivered?

DSP Msci India ETF has returned -8.58% 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 Msci India ETF?

DSP Msci India ETF charges an expense ratio of 0.42% 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 Msci India ETF?

DSP Msci India ETF's largest holdings are HDFC Bank Limited (6.0%), ICICI Bank Limited (5.8%), Reliance Industries Limited (5.5%), Bharti Airtel Limited (3.8%) and Infosys Limited (2.6%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Msci India ETF?

DSP Msci India ETF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.7% and its worst peak-to-trough fall in our sample was -14.6%. 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 Msci India ETF?

DSP Msci India ETF is benchmarked against the MSCI India Index (TRI). Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Msci India ETF?

DSP Msci India ETF is managed by Anil Ghelani, Neha Rathi and Diipesh Shah at DSP.

Q: How is DSP Msci India ETF taxed?

DSP Msci India ETF is a non-equity fund (a fund-of-funds, gold, international or balanced-hybrid scheme). Since FY 2025-26 it's no longer taxed like a pure-debt fund: gains on units held more than 1 year are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 1 year or less are taxed at your income-tax slab rate.

DSP Mutual Fund

NAV

₹27.75

+0.50% 1D

as of 05 Oct 2026

Compare SIP calculator

Performance

-8.58%absolute

52-week rangePrev NAV ₹27.61

Latest ₹27.75

Low ₹26.5527th percentile of its 52-week rangeHigh ₹31.09

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 — this fund has no full year of NAV history yet. A rating needs at least a 1-year return to rank its performance against peers.

Performance—

Not enough Other ETFs peers to rank yet

RiskModerate

Volatility 14.7% vs 16.4% category avg

CostAverage

0.4% expense vs 0.4% 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

No standout strengths identified.

Concerns

Trails the Other ETFs average on 1M/3M/6M

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.42%

Category 0.39%▲0.03%

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

20.00

Category 22.34▼2.34

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

—

Category 0.21

Scheme Info

Definitions

Plan

—

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

—

Exit Load

None

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

0.005%

SIP Inv.

Not allowed

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

MSCI India Index (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.

25 Nov 2025

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

Definitions

Absolute return over the last 1 month (not annualized)

-5.67%

Absolute return over the last 3 months (not annualized)

-6.17%

Absolute return over the last 6 months (not annualized)

+2.72%

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

-9.65%

Annualized returns (≥1Y — CAGR)

Definitions

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

—

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.

-8.58%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.73%

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

-14.61%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

—

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

—

How much of the fund's movement Nifty 500 TRI explains

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

Computed vs the Nifty 500 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 (Other ETFs)

Period	Fund	Category avg.	Diff
1M abs	-5.67%	-4.76%	-0.91%
3M abs	-6.17%	-4.28%	-1.89%
6M abs	+2.72%	+4.99%	-2.27%
1Y CAGR	—	+1.06%	—
3Y CAGR	—	+10.63%	—
5Y CAGR	—	+7.81%	—

Category average across peers in Other ETFs (up to 214 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.

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

₹1.00L

Current value

₹95.10K

Absolute

-4.90%

XIRR

-12.60%

Value vs. invested

ValueInvested

10 monthly installments of ₹10,000 into DSP Msci India ETF, 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	-9.65%	-7.18%	-2.47%
2025part	+1.18%	—	—

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

213

Expense ratio

0.42%

AUM

₹2.84Cr

Exit load

Nil

P/E ratio

20.0

P/B ratio

4.3

Avg market cap

₹4,51,380Cr

P/E & P/B are portfolio-weighted harmonic means across 152 of 165 equity holdings (95% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as non-equity

This is a non-equity fund — a fund-of-funds, gold/silver, international or balanced-hybrid scheme. It isn't equity-oriented, but since FY 2025-26 it's no longer taxed like a pure-debt fund either: gains held over 1 year get the 12.5% long-term rate; shorter holdings are taxed at your income-tax slab rate.

Short-term

30%

Held under 1 year

Added to your income at your slab rate

Long-term (LTCG)

12.5%

Held 1 year or more

No indexation, no ₹1.25 L exemption

Your income-tax slab

Sets the short-term (slab-rate) figure above.

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 · Other ETFs

Compare all


DSP Msci India ETFThis fund DSP	—	—	—	—	20.00	0.42%	₹2.84Cr
HDFC Silver ETF HDFC · Growth	—	+51.56%	+47.81%	—	—	0.50%	₹7,926Cr
ICICI Prudential Silver ETF ICICI Prudential	—	+52.40%	+47.61%	—	—	0.40%	₹14,507Cr
Kotak Silver ETF Kotak Mahindra	—	+52.29%	+47.52%	—	—	0.35%	₹3,681Cr
Nippon India Silver ETF Nippon India · Direct · Growth	—	+51.91%	+47.19%	—	—	0.58%	₹31,194Cr
Motilal Oswal Nasdaq 100 ETF Motilal Oswal	—	+35.94%	+34.66%	+22.73%	—	0.60%	—

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap80.6%
Mid cap19.2%
Small cap0.1%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity99.65%
Cash & Equivalents0.35%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
360 ONE MSCI India ETF 360 One · Other ETFs	97.2%	—	—	—
Parag Parikh Large Cap Fund PPFAS · Large Cap Fund	80.3%	—	0.32%	—
Axis Nifty 100 Index Fund Axis · Index Funds	80.3%	★★★★☆	0.26%	+7.57%
HDFC NIFTY 100 Index Fund HDFC · Index Funds	80.3%	★★★☆☆	0.35%	+7.44%
Bandhan Nifty 100 Index Fund Bandhan · Index Funds	80.3%	★★★★☆	0.18%	+7.65%
Nippon India ETF Nifty 100 Nippon India · Other ETFs	80.3%	—	0.51%	+7.29%
Zerodha Nifty 100 ETF Zerodha · Other ETFs	80.3%	—	0.28%	—
HDFC BSE 500 Index Fund HDFC · Index Funds	79.2%	★★★☆☆	0.35%	+8.64%

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 — 0.48% 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 I0.48%

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.

-14.6%02 Jan 2026 → 31 Mar 2026
Still below that high — 3 months 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.

Fund size over time

Quarterly average AUM · AMFI

₹2.84Cr

July - September 2026

-51%

since January - March 2026

−₹56.11L

est. net flow, last quarter

Down +51% from its peak of ₹5.80Cr 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.

Launched

15 Dec 1996

Total AUM

₹2,44,022Cr+6.2% QoQ

Avg AUM · July - September 2026

Website

dspim.com

Fund Managers

AGAnil GhelaniStart date not disclosed

Education

Chartered Financial Analyst (CFA Institute USA) Chartered Accountant (ICAI India) B. Com. (H. R. College University of Mumbai)

Experience

Over 27 years of experience as under: From April 01, 2023 till date - DSP BSE Sensex Next 30 DSPAM – Head of Passive Investments & Products. From April 16, 2018 to March 31, 2023 - DSPIM – Head of Passive Investments Products. From January 2013 to April Liquid ETF 2018, DSP Pension Fund Managers Pvt. Ltd. - Business Head & Chief Investment Officer From December 2014 to April 15, 2018 - DSPIM – Senior Vice President, Products & Passive Investments From January 2006 December 2012 - DSPIM – Head of Risk & Quantitative Analysis ETF (RQA) From July 2003 to December 2005 - DSPIM - AVP - Fund Administration From February 2003 to July 2003 - IL&FS Asset Management Company - Asst. Manager – Fund Operations From February 2000 to January 2003 - S. R. Batliboi (member firm of Ernst & Young) – CA articleship till Jan DSP Nifty Smallcap250 2002 Executive from Feb 2002 From August 1998 to June 2000 - V. C. Shah & Co., Chartered Accountants - CA articleship

Funds managed (37)

All schemes Anil Ghelani runs →

NRNeha RathiStart date not disclosed

Education

Chartered Accountant, Bcom

Experience

Over 08 years of experience DSP Asset Managers Private Limited- From January 2024 onwards Aditya Birla Sun Life AMC Limited – Investment Equity – Sept 2021- to Dec 2023 Deloitte Touche Tohmatsu India – in Risk Advisory – May DSP 2021 to Aug 2021 ICICI Prudential Asset Management Company Ltd – in Weight ETF Investment Compliance – Nov 2018 to April 2021

Funds managed (31)

All schemes Neha Rathi runs →

DSDiipesh ShahStart date not disclosed

Education

Candidate of the CFA Program, CFA Institute DSPAM USA, Level I Cleared

Experience

Over 22 years of experience as under: From April 2023 till date - DSP – ETF Weight Index Fund, I and Passive Investments. From November 1, 2020 to March 31, 2023- DSPIM – Fund Manager – ETF and Passive Investments. From September 2019 October 2020 - DSPIM – Dealer – ETF and Passive Investments. From August 2018 to September, 2019 - JM Financial Institutional DSP Broking Limited as Institutional Equity Sales Trading. From June 2014 to July 2018 - Centrum Boking Limited as Institutional Fund, Equity Sales Trading. From September 2013 to June 2014 - JM Financial Institutional Broking Limited as Institutional ETF, Equity Sales Trading. From January 2011 to August 2013 - IDFC Securities Limited as Institutional Equity Sales Trading From July 2010 to September 2010 - Kotak Securities Limited as Institutional Equity Sales Trading

Funds managed (25)

All schemes Diipesh Shah runs →

We don't hold this scheme's own Scheme Information Document. The managers shown are those named on it in this fund house's filings for its other schemes, so the list may be incomplete. Total AUM via AMFI.

Explore from here

Fund managers

Anil Ghelani Neha Rathi Diipesh Shah

Top holdings

HDFC Bank Limited ICICI Bank Limited Reliance Industries Limited Bharti Airtel Limited Infosys Limited Axis Bank Limited Mahindra & Mahindra Limited Larsen & Toubro Limited Bajaj Finance Limited Kotak Mahindra Bank Limited Tata Consultancy Services Limited State Bank of India

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.

Run SIP calculator Add to compare

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 Index funds & ETFs

Index funds and ETFs must keep at least 95% in the securities of the index they track, rather than trying to beat it. They charge far lower fees than active funds, and their return is the index's return minus that small cost and any tracking difference.

Frequently asked questions

What is the NAV of DSP Msci India ETF?

As of 05 Oct 2026, the NAV of DSP Msci India ETF is ₹27.75 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Msci India ETF delivered?

DSP Msci India ETF has returned -8.58% 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 Msci India ETF?

DSP Msci India ETF charges an expense ratio of 0.42% 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 Msci India ETF?

DSP Msci India ETF's largest holdings are HDFC Bank Limited (6.0%), ICICI Bank Limited (5.8%), Reliance Industries Limited (5.5%), Bharti Airtel Limited (3.8%) and Infosys Limited (2.6%). Holdings are disclosed monthly and change over time.

How risky is DSP Msci India ETF?

DSP Msci India ETF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.7% and its worst peak-to-trough fall in our sample was -14.6%. 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 Msci India ETF?

DSP Msci India ETF is benchmarked against the MSCI India Index (TRI). Its alpha and beta on this page are measured against that index.

Who manages DSP Msci India ETF?

DSP Msci India ETF is managed by Anil Ghelani, Neha Rathi and Diipesh Shah at DSP.

How is DSP Msci India ETF taxed?

DSP Msci India ETF is a non-equity fund (a fund-of-funds, gold, international or balanced-hybrid scheme). Since FY 2025-26 it's no longer taxed like a pure-debt fund: gains on units held more than 1 year are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 1 year or less are taxed at your income-tax slab rate.