ETFEquity ETFVery High

DSP BSE MidSmall Private Banks ETF

Q: What is the NAV of DSP BSE MidSmall Private Banks ETF?

As of 05 Oct 2026, the NAV of DSP BSE MidSmall Private Banks ETF is ₹16.58 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP BSE MidSmall Private Banks ETF delivered?

DSP BSE MidSmall Private Banks ETF has returned -4.45% 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 BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF charges an expense ratio of 1.68% 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 BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF's largest holdings are Federal Bank Limited (18.0%), IndusInd Bank Limited (13.7%), AU Small Finance Bank Limited (12.7%), IDFC First Bank Limited (11.8%) and Yes Bank Limited (8.3%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.0% and its worst peak-to-trough fall in our sample was -7.2%. 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 BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF is benchmarked against the BSE MidSmall Private Banks Index (TRI). Its alpha and beta on this page are measured against that index.

Q: Who manages DSP BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF is managed by Anil Ghelani, Diipesh Shah and Neha Rathi at DSP.

Q: How is DSP BSE MidSmall Private Banks ETF taxed?

DSP BSE MidSmall Private Banks ETF 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 Equity ETFs

NAV

₹16.58

+1.67% 1D

as of 05 Oct 2026

Compare SIP calculator

Performance

-4.45%absolute

52-week rangePrev NAV ₹16.31

Latest ₹16.58

Low ₹16.3122nd percentile of its 52-week rangeHigh ₹17.57

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 Equity ETF peers to rank yet

RiskLow

Volatility 15.0% vs 16.8% category avg

CostHigh

1.7% expense vs 0.7% 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

Less volatile than its Equity ETF peers (15.0% vs 16.8%)

Concerns

High expense ratio (1.68%) vs the Equity ETF average of 0.71%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.68%

Category 0.71%▲0.97%

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

20.56

Category 20.83▼0.27

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

—

Category 0.26

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

BSE MidSmall Private Banks 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.

04 Aug 2026

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

Definitions

Absolute return over the last 1 month (not annualized)

-5.03%

Absolute return over the last 3 months (not annualized)

—

Absolute return over the last 6 months (not annualized)

—

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

-4.45%

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.

-4.45%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.97%

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

-7.17%

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 (Equity ETF)

Period	Fund	Category avg.	Diff
1M abs	-5.03%	-5.22%	+0.19%
3M abs	—	-3.87%	—
6M abs	—	+5.97%	—
1Y CAGR	—	-0.61%	—
3Y CAGR	—	+11.60%	—
5Y CAGR	—	+9.62%	—

Category average across peers in Equity ETF (72 of 73 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.

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

₹20.00K

Current value

₹19.50K

Absolute

-2.51%

XIRR

-45.55%

Value vs. invested

ValueInvested

2 monthly installments of ₹10,000 into DSP BSE MidSmall Private Banks ETF, valued at the latest NAV. XIRR annualizes for each installment’s timing.

History points

Expense ratio

1.68%

Exit load

Nil

P/E ratio

20.6

P/B ratio

1.8

Avg market cap

₹56,803Cr

P/E & P/B are portfolio-weighted harmonic means across 8 of 18 equity holdings (63% 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 · Equity ETF

Compare all


DSP BSE MidSmall Private Banks ETFThis fund DSP	—	—	—	—	20.56	1.68%	—
Aditya Birla Sun Life Silver ETF Aditya Birla Sun Life	★★★★☆	+52.36%	+47.61%	—	—	0.35%	₹3,026Cr
Aditya Birla Sun Life Gold ETF Aditya Birla Sun Life	★★★☆☆	+25.55%	+36.41%	+24.84%	—	0.44%	₹2,838Cr
Mirae Asset S&P 500 Top 50 ETF Mirae Asset	★★★★★	+19.24%	+29.33%	+19.90%	—	0.65%	—
Aditya Birla Sun Life Nifty Healthcare ETF Aditya Birla Sun Life	★★★★★	+11.80%	+19.57%	—	41.11	0.20%	₹76.55Cr
Axis NIFTY Healthcare ETF Axis	★★★★★	+11.61%	+19.17%	+12.21%	41.12	0.45%	₹21.69Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap0.0%
Mid cap69.6%
Small cap30.4%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity99.55%
Cash & Equivalents0.45%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Motilal Oswal Nifty Bank Index Fund Motilal Oswal · Index Funds	25.4%	★★★☆☆	0.32%	+7.90%
ICICI Prudential Nifty Bank Index Fund ICICI Prudential · Index Funds	25.4%	★★★☆☆	0.22%	+7.93%
Nippon India Nifty Bank Index Fund Nippon India · Index Funds	25.4%	★★★☆☆	0.31%	—
Axis Nifty Bank Index Fund Axis · Index Funds	25.4%	★★★☆☆	0.24%	—
Bandhan Nifty Bank Index Fund Bandhan · Index Funds	25.4%	★★★☆☆	0.31%	—
Invesco India Nifty Bank Index Fund Invesco · Index Funds	25.4%	—	0.66%	—
Nippon India ETF Nifty Bank BeES Nippon India · Other ETFs	25.4%	—	0.20%	+7.95%
UTI Nifty Bank ETF UTI · Equity ETF	25.4%	★★☆☆☆	—	+8.03%

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.

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.

-7.2%21 Aug 2026 → 01 Oct 2026
Still below that high — 41 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

AGAnil GhelaniManaging since 03 Aug 2026

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 →

DSDiipesh ShahManaging since 03 Aug 2026

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 (26)

All schemes Diipesh Shah runs →

NRNeha RathiManaging since 03 Aug 2026

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 (32)

All schemes Neha Rathi runs →

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

Fund managers

Anil Ghelani Diipesh Shah Neha Rathi

Top holdings

Federal Bank Limited IndusInd Bank Limited AU Small Finance Bank Limited IDFC First Bank Limited Yes Bank Limited Karur Vysya Bank Limited RBL Bank Limited City Union Bank Limited Bandhan Bank Limited Ujjivan Small Finance Bank Limited Karnataka Bank Limited The South Indian 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 Equity ETFs

Equity ETFs track an equity index and trade on the exchange through the day, so you buy at a market price that can sit slightly above or below the fund's NAV. That is the trade-off against an index fund, which always transacts at NAV but only once a day.

Frequently asked questions

What is the NAV of DSP BSE MidSmall Private Banks ETF?

As of 05 Oct 2026, the NAV of DSP BSE MidSmall Private Banks ETF is ₹16.58 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP BSE MidSmall Private Banks ETF delivered?

DSP BSE MidSmall Private Banks ETF has returned -4.45% 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 BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF charges an expense ratio of 1.68% 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 BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF's largest holdings are Federal Bank Limited (18.0%), IndusInd Bank Limited (13.7%), AU Small Finance Bank Limited (12.7%), IDFC First Bank Limited (11.8%) and Yes Bank Limited (8.3%). Holdings are disclosed monthly and change over time.

How risky is DSP BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.0% and its worst peak-to-trough fall in our sample was -7.2%. 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 BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF is benchmarked against the BSE MidSmall Private Banks Index (TRI). Its alpha and beta on this page are measured against that index.

Who manages DSP BSE MidSmall Private Banks ETF?

DSP BSE MidSmall Private Banks ETF is managed by Anil Ghelani, Diipesh Shah and Neha Rathi at DSP.

How is DSP BSE MidSmall Private Banks ETF taxed?

DSP BSE MidSmall Private Banks ETF 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.