The Axis Banking ETF, managed by Axis Asset Management Company Limited, aims to replicate the NIFTY Bank TRI, focusing on sector-specific investments within the financial services domain.

The fund employs a tracking strategy to closely mirror the total returns of the NIFTY Bank TRI, maintaining a low tracking error of 0.04%, ensuring efficient performance alignment with its benchmark.

Portfolio concentration is notable, with top holdings including HDFC Bank (28.5%) and ICICI Bank (24.4%), indicating significant exposure to the financial services sector and potential concentration risks.

In terms of performance, the ETF has shown a robust 1-year return of 16.0% and a 3-year CAGR of 11.7%, reflecting consistent growth in line with its investment objective.

With an expense ratio of 0.2% and a fund size of ₹360.15 Cr, the ETF is positioned for efficient cost management, guided by experienced fund manager Mr. Karthik Kumar since August 2023.