SBI Equity Minimum Variance Fund
QuantVery HighOPEN-ENDED
- NAV as on 25 Sep 2026
- ₹23.11+0.28%1 day
- Return since launch
- 11.9%
- 52-week range
- ₹21.71 — ₹24.96
- AUM
- ₹208 Cr
SBI Equity Minimum Variance Fund is a Quant equity fund from SBI Mutual Fund with ₹208 Cr under management, launched in 2019. Over three years it has returned 0.2% a year, against 10.9% for its category. The expense ratio is 0.89% and the SEBI riskometer reading is Very High.
Performance
SBI Equity Minimum Variance Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -2.3% against +1.6% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -6.2% | −10.9 pts | 4.7% | -1.6% |
| 2Y | -2.5% | −4.0 pts | 1.6% | -0.2% |
| 3Y | 0.2% | −10.7 pts | 10.9% | 1.5% |
| 5Y | 6.3% | −3.2 pts | 9.5% | 7.7% |
| 7Y | 10.1% | −0.7 pts | 10.8% | 11.0% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -3.0% | +0.4 pts | -3.4% | -3.4% |
| 3M | -2.7% | −2.4 pts | -0.3% | -0.5% |
| 6M | 4.4% | −5.8 pts | 10.2% | 7.4% |
| 1Y | -2.3% | −7.0 pts | 4.7% | 1.3% |
| 2Y | -6.8% | −2.6 pts | -4.2% | -5.7% |
| 3Y | 6.7% | −4.2 pts | 10.9% | 8.3% |
| 5Y | 7.5% | −2.0 pts | 9.5% | 8.1% |
| 7Y | 12.8% | −0.2 pts | 12.9% | 13.2% |
Since launch (2 Mar 2019): 11.9%
Calendar-year returns
Category average24.2%
23.8%
6.2%
28.0%
8.1%
7.1%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 7.1% | +4.4 pts | 2.7% |
| 2024 | 8.1% | −10.5 pts | 18.5% |
| 2023 | 28.0% | −4.9 pts | 32.9% |
| 2022 | 6.2% | +0.2 pts | 5.9% |
| 2021 | 23.8% | −8.8 pts | 32.6% |
| 2020 | 24.2% | +1.2 pts | 23.0% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
0.87%
Expense ratio as on 24 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.65%
- Brokerage
- 0.01%
- Transaction charges
- 0.00%
- Statutory levies
- 0.21%
- Exit load
- Exit load of 0.5% if redeemed within 15 days.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- Nifty 50 Total Return
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | -2.46 | 3.38 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.89 | 1.00 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.25 | 0.60 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.34 | 0.88 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 14.51 | 17.18 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
SBI Equity Minimum Variance Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity99.1%
- Other0.9%
Market cap split
- Large95.9%
- Mid4.1%
- P/E
- 22.91
- P/B
- 4.00
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Sun Pharmaceutical Industries Ltd. | Healthcare | 8.48% | ₹17.63 Cr | +7.78% | +7.83% | +7.27% |
| Nestle India Ltd. | Consumer Staples | 8.27% | ₹17.20 Cr | +8.74% | +8.32% | +7.85% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 8.18% | ₹17.01 Cr | +3.39% | +3.49% | +6.68% |
| Hindustan Unilever Ltd. | Consumer Staples | 5.71% | ₹11.87 Cr | +7.64% | +8.21% | +9.34% |
| Tata Consumer Products Ltd. | Consumer Staples | 4.91% | ₹10.20 Cr | +6.56% | +5.03% | +3.75% |
| ITC Ltd. | Consumer Staples | 4.90% | ₹10.19 Cr | +6.13% | +7.39% | +6.32% |
| Cipla Ltd. | Healthcare | 4.74% | ₹9.86 Cr | +5.26% | +5.04% | +3.82% |
| Tech Mahindra Ltd. | Technology | 4.60% | ₹9.56 Cr | +2.18% | +0.87% | +0.89% |
| Coal India Ltd. | Materials | 4.35% | ₹9.04 Cr | +1.95% | +1.09% | +0.98% |
| Dr. Reddy's Laboratories Ltd. | Healthcare | 3.12% | ₹6.49 Cr | +3.30% | +1.98% | +1.96% |
| Bharti Airtel Ltd. | Communication | 1.89% | ₹3.94 Cr | +1.92% | +1.94% | +2.94% |
| Asian Paints Ltd. | Materials | 1.45% | ₹3.01 Cr | +2.74% | +2.43% | +3.12% |
| Bajaj Auto Ltd. | Automobile | 1.23% | ₹2.56 Cr | +1.09% | +1.08% | +1.04% |
| HCL Technologies Ltd. | Technology | 1.22% | ₹2.53 Cr | +1.33% | +0.87% | +0.86% |
| Eternal Ltd. | Services | 1.17% | ₹2.44 Cr | +0.99% | +0.89% | +1.22% |
| Tata Consultancy Services Ltd. | Technology | 1.16% | ₹2.41 Cr | +1.73% | +2.42% | +4.38% |
| Titan Company Ltd. | Consumer Discretionary | 1.14% | ₹2.37 Cr | +0.91% | +1.10% | +0.99% |
| Eicher Motors Ltd. | Automobile | 1.10% | ₹2.28 Cr | +0.99% | +1.13% | +1.08% |
| Bajaj Finserv Ltd. | Financial | 1.09% | ₹2.26 Cr | +1.00% | +1.01% | +0.97% |
| Infosys Ltd. | Technology | 1.09% | ₹2.26 Cr | +0.82% | +0.82% | +0.92% |
| Hindalco Industries Ltd. | Metals & Mining | 1.07% | ₹2.22 Cr | +1.13% | +1.03% | +1.02% |
| JSW Steel Ltd. | Metals & Mining | 1.07% | ₹2.22 Cr | +1.03% | +1.10% | +0.98% |
| Grasim Industries Ltd. | Materials | 1.06% | ₹2.21 Cr | +1.12% | +1.01% | +0.99% |
| Wipro Ltd. | Technology | 1.06% | ₹2.20 Cr | +0.96% | +0.83% | +0.95% |
| Kotak Mahindra Bank Ltd. | Financial | 1.05% | ₹2.18 Cr | +0.98% | +0.97% | +0.92% |
| Bajaj Finance Ltd. | Financial | 1.04% | ₹2.16 Cr | +1.01% | +1.04% | +0.96% |
| ICICI Bank Ltd. | Financial | 1.04% | ₹2.16 Cr | +2.52% | +3.35% | +3.47% |
| Shriram Finance Ltd | Financial | 1.04% | ₹2.16 Cr | +0.97% | +1.10% | +0.87% |
| Mahindra & Mahindra Ltd. | Automobile | 1.03% | ₹2.15 Cr | +0.93% | +0.92% | +1.02% |
| JIO Financial Services Ltd. | Financial | 1.01% | ₹2.09 Cr | +0.95% | +0.87% | +0.97% |
| State Bank of India | Financial | 1.01% | ₹2.09 Cr | +0.87% | +1.24% | +1.00% |
| Bharat Electronics Ltd. | Capital Goods | 1.00% | ₹2.07 Cr | +0.89% | +1.14% | +0.88% |
| Larsen & Toubro Ltd. | Construction | 1.00% | ₹2.07 Cr | +1.03% | +1.06% | +1.01% |
| Ultratech Cement Ltd. | Materials | 0.99% | ₹2.06 Cr | +0.99% | +1.10% | +1.03% |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.98% | ₹2.04 Cr | +0.85% | +1.19% | +0.98% |
| Reliance Industries Ltd. | Energy | 0.98% | ₹2.04 Cr | +0.90% | +0.90% | +0.90% |
| Tata Steel Ltd. | Metals & Mining | 0.98% | ₹2.04 Cr | +0.98% | +1.20% | +0.94% |
| SBI Life Insurance Company Ltd. | Insurance | 0.97% | ₹2.03 Cr | +1.83% | +1.74% | +0.99% |
| Interglobe Aviation Ltd. | Services | 0.96% | ₹2.00 Cr | +0.96% | +0.97% | — |
| Axis Bank Ltd. | Financial | 0.95% | ₹1.98 Cr | +0.98% | +1.13% | +0.90% |
| HDFC Life Insurance Co Ltd. | Insurance | 0.95% | ₹1.98 Cr | +0.96% | +1.65% | +1.80% |
| Maruti Suzuki India Ltd. | Automobile | 0.94% | ₹1.96 Cr | +0.95% | +0.90% | +1.19% |
| Max Healthcare Institute Ltd. | Healthcare | 0.92% | ₹1.92 Cr | +0.94% | +1.06% | — |
| NTPC Ltd. | Energy | 0.91% | ₹1.90 Cr | +0.99% | +1.12% | +0.99% |
| Power Grid Corporation Of India Ltd. | Energy | 0.91% | ₹1.90 Cr | +0.92% | +1.14% | +0.95% |
| Adani Enterprises Ltd. | Services | 0.90% | ₹1.87 Cr | +1.47% | +0.98% | +0.86% |
| HDFC Bank Ltd. | Financial | 0.89% | ₹1.85 Cr | +0.91% | +3.21% | +2.13% |
| Tata Motors Passenger Vehicles Ltd. | Automobile | 0.89% | ₹1.85 Cr | +1.19% | +1.07% | +0.98% |
| Others | Others | 0.88% | ₹1.88 Cr | +0.42% | -0.86% | -0.06% |
| Trent Ltd. | Services | 0.87% | ₹1.80 Cr | +1.09% | +0.91% | +0.86% |
| Adani Ports and Special Economic Zone Ltd. | Services | 0.85% | ₹1.76 Cr | +1.20% | +1.05% | +0.92% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| ITC Ltd. | 5.26% | 4.90% | -0.36% |
| Hindustan Unilever Ltd. | 5.95% | 5.71% | -0.24% |
| Sun Pharmaceutical Industries Ltd. | 8.30% | 8.48% | +0.18% |
| Others | 0.04% | -0.13% | -0.17% |
| Apollo Hospitals Enterprise Ltd. | 8.03% | 8.18% | +0.15% |
| Nestle India Ltd. | 8.14% | 8.27% | +0.13% |
| Bharti Airtel Ltd. | 2.01% | 1.89% | -0.12% |
| Eternal Ltd. | 1.05% | 1.17% | +0.12% |
| Grasim Industries Ltd. | 0.95% | 1.06% | +0.11% |
| Kotak Mahindra Bank Ltd. | 0.95% | 1.05% | +0.10% |
| Cipla Ltd. | 4.84% | 4.74% | -0.10% |
| Dr. Reddy's Laboratories Ltd. | 3.03% | 3.12% | +0.09% |
| Bajaj Auto Ltd. | 1.14% | 1.23% | +0.09% |
| Bharat Electronics Ltd. | 0.91% | 1.00% | +0.09% |
| Tata Consumer Products Ltd. | 5.00% | 4.91% | -0.09% |
| Shriram Finance Ltd | 0.96% | 1.04% | +0.08% |
| Titan Company Ltd. | 1.06% | 1.14% | +0.08% |
| Hindalco Industries Ltd. | 1.00% | 1.07% | +0.07% |
| Axis Bank Ltd. | 0.88% | 0.95% | +0.07% |
| Tata Motors Passenger Vehicles Ltd. | 0.96% | 0.89% | -0.07% |
| JSW Steel Ltd. | 1.01% | 1.07% | +0.06% |
| SBI Life Insurance Company Ltd. | 1.03% | 0.97% | -0.06% |
| State Bank of India | 0.95% | 1.01% | +0.06% |
| Bajaj Finance Ltd. | 1.09% | 1.04% | -0.05% |
| Eicher Motors Ltd. | 1.05% | 1.10% | +0.05% |
| Larsen & Toubro Ltd. | 0.95% | 1.00% | +0.05% |
| Power Grid Corporation Of India Ltd. | 0.96% | 0.91% | -0.05% |
| Tata Consultancy Services Ltd. | 1.11% | 1.16% | +0.05% |
| Tech Mahindra Ltd. | 4.55% | 4.60% | +0.05% |
| ICICI Bank Ltd. | 1.00% | 1.04% | +0.04% |
| Adani Ports and Special Economic Zone Ltd. | 0.88% | 0.85% | -0.03% |
| HDFC Bank Ltd. | 0.92% | 0.89% | -0.03% |
| Infosys Ltd. | 1.06% | 1.09% | +0.03% |
| JIO Financial Services Ltd. | 1.04% | 1.01% | -0.03% |
| Maruti Suzuki India Ltd. | 0.97% | 0.94% | -0.03% |
| Wipro Ltd. | 1.03% | 1.06% | +0.03% |
| Interglobe Aviation Ltd. | 0.93% | 0.96% | +0.03% |
| Max Healthcare Institute Ltd. | 0.95% | 0.92% | -0.03% |
| NTPC Ltd. | 0.94% | 0.91% | -0.03% |
| Coal India Ltd. | 4.37% | 4.35% | -0.02% |
| Adani Enterprises Ltd. | 0.92% | 0.90% | -0.02% |
| Bajaj Finserv Ltd. | 1.07% | 1.09% | +0.02% |
| Oil And Natural Gas Corporation Ltd. | 1.00% | 0.98% | -0.02% |
| Ultratech Cement Ltd. | 1.01% | 0.99% | -0.02% |
| Asian Paints Ltd. | 1.46% | 1.45% | -0.01% |
| HDFC Life Insurance Co Ltd. | 0.94% | 0.95% | +0.01% |
| Mahindra & Mahindra Ltd. | 1.04% | 1.03% | -0.01% |
| Tata Steel Ltd. | 0.99% | 0.98% | -0.01% |
| Trent Ltd. | 0.88% | 0.87% | -0.01% |
| HCL Technologies Ltd. | 1.22% | 1.22% | 0.00% |
| Reliance Industries Ltd. | 0.98% | 0.98% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹769 Cr | 2.46% | 5.4% | 5.3% | 12.9% |
 Quant Quantamental Fund | ₹1,632 Cr | 2.96% | 6.2% | 6.2% | 14.4% |
 360 ONE Quant Fund | ₹846 Cr | 2.55% | -4.3% | 3.1% | — |
 Samco Active Momentum Fund | ₹752 Cr | 3.23% | 30.4% | 9.4% | — |
 Kotak Quant Fund | ₹497 Cr | 2.26% | -1.4% | 3.4% | — |
 Nippon India Quant Fund | ₹116 Cr | 1.31% | -4.0% | 4.2% | 11.4% |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to provide long term capital appreciation by investing in a diversified basket of companies in Nifty 50 Index while aiming for minimizing the portfolio volatility.
Fund managers
- Sukanya GhoshMs. Ghosh is a Commerce Graduate and holds a CA degree.Prior to this, she had worked as Asst. Manager-Product Development with ABN AMRO AMC and with Birla Sun Life AMC and in the intercompany team of ABN AMRO Central Enterprises Pvt. Ltd.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
₹
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months4.40% absolute | ₹60,000 | ₹62,640 | 4.40% | |
| 1 year−2.27% annualised | ₹1,20,000 | ₹1,18,535 | −1.22% | |
| 3 years6.69% annualised | ₹3,60,000 | ₹3,99,663 | 11.02% | |
| 5 years7.53% annualised | ₹6,00,000 | ₹7,30,391 | 21.73% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.
What is the NAV of SBI Equity Minimum Variance Fund?
The NAV of SBI Equity Minimum Variance Fund is ₹23.11 as on 25 Sep 2026.
What is the expense ratio of SBI Equity Minimum Variance Fund?
The expense ratio of SBI Equity Minimum Variance Fund is 0.89% per year.
What is the minimum SIP amount for SBI Equity Minimum Variance Fund?
You can start a SIP in SBI Equity Minimum Variance Fund with ₹3,000 a month.
What returns has SBI Equity Minimum Variance Fund given?
SBI Equity Minimum Variance Fund has returned -6.2% over 1 year, 0.2% over 3 years and 6.3% over 5 years (annualised).
Is there a lock-in or exit load on SBI Equity Minimum Variance Fund?
Lock-in: None. Exit load: Exit load of 0.5% if redeemed within 15 days..
How risky is SBI Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund is rated Very High on the SEBI riskometer and belongs to the Quant category.
Which fund house manages SBI Equity Minimum Variance Fund?
SBI Equity Minimum Variance Fund is managed by SBI Mutual Fund, which runs 80 schemes with ₹12,81,381 Cr under management.