Which Nifty Private Bank index fund or ETF has the lowest tracking error?

Based on the latest monthly AMC factsheets, HDFC NIFTY Private Bank ETF has the lowest annualized tracking error at 0.02%, compared to the Nifty Private Bank category average tracking error of 0.09%.

Which Nifty Private Bank passive fund has the lowest expense ratio (TER)?

HDFC NIFTY Private Bank ETF currently offers the lowest direct Total Expense Ratio (TER) at 0.16%, versus the Nifty Private Bank category average TER of 0.56%.

How many passive mutual funds and ETFs track Nifty Private Bank in India?

There are 11 passive schemes tracking Nifty Private Bank with a combined category AUM of ₹7,087 Crores. The largest scheme by assets is ICICI Prudential Nifty Private Bank ETF with an AUM of ₹4,120 Crores.

What is Tracking Error in passive mutual funds and ETFs?

Tracking Error (TE) is the annualized standard deviation of daily excess returns between a passive index fund or ETF and its benchmark index (such as Nifty 50 or Sensex). It measures how consistently the fund replicates the index day-to-day. Lower tracking error signifies tighter replication and disciplined cash drag management.

What is the difference between Tracking Error and Tracking Difference?

Tracking Difference is the actual percentage of returns you lose compared to the index over a time period (Index Return minus Fund Return). It already includes the expense ratio and cash drag. Tracking Error, on the other hand, measures the day-to-day volatility or bumpiness of that return gap.

How does Total Expense Ratio (TER) affect index fund performance?

The Total Expense Ratio (TER) is the recurring annual fee charged by the AMC, deducted daily from the fund's NAV. A higher TER creates a continuous drag on compounding returns, directly widening the fund's tracking difference over long investment horizons.

What metrics can I track historically on this screener?

You can track historical timelines of Tracking Error (%), Total Expense Ratio (TER %), Assets Under Management (AUM in ₹ Crores), Yield to Maturity (YTM %), Average Maturity, and Modified Duration across 6-month, 1-year, 2-year, and 3-year time horizons.

How often are passive fund metrics updated on ProFinPlanner?

All scheme metrics are sourced directly from monthly AMC factsheets and updated once a month as soon as factsheets are released by asset management companies.

EQUITY BENCHMARK • 11 PASSIVE SCHEMES

Nifty Private Bank Index Funds & ETFs — Key Metrics

Compare all passive mutual funds and ETFs tracking Nifty Private Bank by live tracking error, direct expense ratio (TER), and AUM.

Data sourced from AMC Factsheets • Updated monthly for 300+ Indian Index Funds & ETFs

Select Asset Class165 Equity indices

📈 Equity ⚖️ Hybrid 🏦 Debt / Fixed Income 🪙 Commodities

Popular Benchmarks:

Nifty 50 Nifty Next 50 BSE Sensex Nifty Midcap 150 Domestic Gold 5-Yr G-Sec Debt

Select Equity Benchmark Index

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Mutual FundsETFs

Data Freshness2026-09-30

All FundsAll past dates included

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Active Index Funds / ETFs

Tracking Nifty Private Bank

Category Avg. Expense Ratio

0.56%

Avg Direct Plan TER

Lowest Expense Ratio

0.16%

HDFC NIFTY Private Bank ETF

Highest AUM

₹4,120.13 Cr

ICICI Prudential Nifty Private Bank ETF

Lowest Tracking Error

0.0200%

3 Funds Tied:

• HDFC NIFTY Private Bank ETF

• ICICI Prudential Nifty Private Bank ETF

• SBI Nifty Private Bank ETF

Nifty Private Bank — Key Insights & Category Highlights

Auto-Generated from AMC Factsheets

Category Leaders & Highlights

Lowest Tracking Error: HDFC NIFTY Private Bank ETF & ICICI Prudential Nifty Private Bank ETF (+1 more) leads with 0.02% annualized tracking error (category average is 0.09%).
Lowest Cost Leader: HDFC NIFTY Private Bank ETF charges the lowest direct expense ratio (TER) at 0.16% vs category average of 0.56%.
Category Scale: ₹7,087 Cr combined AUM across 11 schemes (4 Index Funds, 7 ETFs), led by ICICI Prudential Nifty Private Bank ETF (₹4,120 Cr).

Selection Checklist & Watchouts

Expense Ratio Spread: Direct TER ranges from 0.16% to 1.40% (a 1.24% annual fee gap that compounds into tracking difference).
Tracking Error Variance: Replication error varies from 0.02% to 0.22%. Compare multi-year consistency on the historical chart below.
Liquidity Watchout: 4 schemes tracking Nifty Private Bank report AUM under ₹50 Cr; ETF buyers should verify exchange order-book depth and impact cost.

Nifty Private Bank — Fund Directory & Metrics Breakdown

Comprehensive snapshot of Tracking Error (%), TER (%), AUM, and debt indicators for Nifty Private Bank. Click headers to sort.


HDFC NIFTY Private Bank ETF	ETF	Very High	0.0200%	0.16%	₹480.51 Cr	2026-09-30
ICICI Prudential Nifty Private Bank ETF	ETF	Very High	0.0200%	0.17%	₹4,120.13 Cr	2026-09-30
SBI Nifty Private Bank ETF	ETF	Very High	0.0200%	0.18%	₹1,428.93 Cr	2026-09-30
DSP Nifty Private Bank ETF	ETF	Very High	0.0300%	0.17%	₹748.00 Cr	2026-09-30
Kotak Nifty Private Bank ETF	ETF	Very High	0.0300%	1.40%	₹15.96 Cr	2026-09-30
UTI Nifty Private Bank Index Fund	Mutual Fund	Very High	0.0400%	0.56%	₹100.01 Cr	2026-09-30
DSP Nifty Private Bank Index Fund	Mutual Fund	Very High	0.0800%	0.52%	₹106.00 Cr	2026-09-30
Tata Nifty Private Bank ETF	ETF	Very High	0.1600%	0.39%	₹20.41 Cr	2026-09-30
Groww Nifty Private Bank Index Fund	Mutual Fund	N/A	0.1700%	1.26%	₹5.68 Cr	2026-09-30
Groww Nifty Private Bank ETF	ETF	N/A	0.2200%	0.71%	₹6.62 Cr	2026-09-30
ICICI Prudential Nifty Private Bank Index Fund	Mutual Fund	Very High	0.2200%	0.66%	₹54.61 Cr	2026-09-30

Note: Data is sourced from AMC Factsheets and updated monthly. Past date funds reflect previous reporting cycles.

Use the Data Freshness toggle at the top to display only funds with the latest data.

Peer Equity Benchmark Indices

All Passive FundsEquity BenchmarksNifty Private Bank

165 Equity Benchmarks

NIFTY 50(48)NIFTY NEXT 50(31)NIFTY BANK(21)S&P BSE SENSEX(28)NIFTY MIDCAP 150(24)NIFTY IT(17)BSE SENSEX(24)NIFTY SMALLCAP 250(17)NIFTY 200 - MOMENTUM 30(12)NIFTY 50 EQUAL WEIGHT(12)NIFTY 100(9)NIFTY INDIA CONSUMPTION(7)NIFTY PRIVATE BANK(10)NIFTY 100 Low Volatility 30(7)NIFTY 50 Value 20(6)NIFTY 200 QUALITY 30(9)NIFTY PSU BANK(9)NIFTY Large Midcap 250(7)NIFTY Healthcare(5)NIFTY Auto(5)NIFTY Midcap 150 Quality 50(4)NIFTY 500(6)NIFTY Alpha Low Volatility 30(6)Nifty India Manufacturing(6)

Evaluation Methodology: Tracking Error, Expense Ratio & Debt Metrics

Tracking Error (SEBI Formula)

Calculated as the annualized standard deviation of daily excess returns: TE = √250 × σ(R_fund − R_index). Lower tracking error signifies tighter replication discipline and minimal cash drag.

Total Expense Ratio (TER) & AUM

A lower TER directly mitigates return drag over compounding horizons. Higher AUM funds generally feature tighter bid-ask spreads on exchange order books and robust secondary market liquidity.

YTM & Modified Duration (Debt)

Yield to Maturity (YTM) indicates gross portfolio yield if securities are held to maturity. Modified duration gauges sensitivity to RBI repo rate changes—shorter duration reduces capital volatility.

Data Sourcing & Update Schedule: All scheme metrics are sourced directly from AMC Factsheets and updated once a month based on the availability and release schedules of factsheets from various AMCs.

Missing Data: Metrics where — is displayed indicate data missing in the AMC's factsheet or that the factsheet itself has not yet been published for the recent month.

Frequently Asked Questions

Nifty Private Bank Category Summary & Statistics