Aditya Birla Sun Life Manufacturing Equity Fund vs HDFC Manufacturing Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Manufacturing Equity Fund is a Thematic fund and HDFC Manufacturing Fund is a Thematic fund. In the year to 30-10-2026, Aditya Birla Sun Life Manufacturing Equity Fund (Direct) returned 10.6% and HDFC Manufacturing Fund (Direct) returned −0.9%. Aditya Birla Sun Life Manufacturing Equity Fund charges 1.40% a year and HDFC Manufacturing Fund 0.95% (Direct plans). Their portfolios overlap 30.2%: they hold 26 of the same securities.
Aditya Birla Sun Life Manufacturing Equity Fund
Thematic
- 1 year return
- 10.6%
- Expense ratio
- 1.40%
- NAV
- ₹41.21
HDFC Manufacturing Fund
Thematic
- 1 year return
- −0.9%
- Expense ratio
- 0.95%
- NAV
- ₹11.33
Which is better, Aditya Birla Sun Life Manufacturing Equity or HDFC Manufacturing? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Aditya Birla Sun Life Manufacturing Equity returned more over 1 year: 10.6% against −0.9%.
- HDFC Manufacturing costs less: 0.95% a year against 1.40% (Direct plans).
- HDFC Manufacturing fell less in its worst fall since 16-05-2024: −21.5% against −22.9%.
- HDFC Manufacturing holds more in large companies: 49.8% of the fund in large caps against 33.3%.
- HDFC Manufacturing is the larger fund: ₹10,280 Cr against ₹1,386 Cr.
- Their portfolios overlap 30.2%: 26 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Aditya Birla Sun Life Manufacturing Equity Fund | HDFC Manufacturing Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | HDFC Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹1,386 Cr (30-09-2026) | ₹10,280 Cr (30-09-2026) |
| NAV | ₹41.21 (Direct) | ₹11.33 (Direct) |
| Expense ratio (Direct) | 1.40% | 0.95% |
| Expense ratio (Regular) | 2.33% | 1.85% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Manufacturing TRI | Nifty India Manufacturing TRI |
| Launch date | 31-01-2015 | 16-05-2024 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Dhaval Joshi | Rakesh Sethia, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Exit load of 1%, if redeemed within 90 days. | In respect of each purchase/switch-in of units, an Exit load of 1% is payable if units are redeemed/switched-out within 1 month from the date of allotment. No Exit Load is payable if units are redeemed / switched-out after 1 month from the date of allotment. In respect of Systematic Transactions such as SIP, Flex SIP, STP, Flex STP, Swing STP, Exit Load, if any, prevailing on the date of registration / enrolment shall be levied. |
Aditya Birla Sun Life Manufacturing Equity vs HDFC Manufacturing: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Manufacturing Equity Fund (Direct) | −5.26% | −2.71% | +5.32% | +10.63% | +19.85% | +14.26% | +13.07% |
| HDFC Manufacturing Fund (Direct) | −4.85% | −4.99% | −0.72% | −0.95% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Aditya Birla Sun Life Manufacturing Equity vs HDFC Manufacturing: Year-wise Returns
| Year | Aditya Birla Sun Life Manufacturing EquityAditya Birla Sun Life Manufacturing Equity | HDFC ManufacturingHDFC Manufacturing | Nifty India Manufacturing TRI |
|---|---|---|---|
| 2026to date | +11.68% | +0.20% | −2.54% |
| 2025 | +4.47% | +8.17% | +12.28% |
| 2024 | +26.23% | -- | +25.99% |
| 2023 | +33.68% | -- | +34.87% |
| 2022 | −0.43% | -- | +5.28% |
| 2021 | +23.07% | -- | -- |
Aditya Birla Sun Life Manufacturing Equity vs HDFC Manufacturing: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 361 of them, one for each trading day from 16-05-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Aditya Birla Sun Life Manufacturing Equity Fund (Direct)
HDFC Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
to
Jun 2025Sept 2024
to
Sept 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Manufacturing Equity | 19.7 | 19.9 | 11.4 | 6.6 | 19.9 | 14.4 | 8.0 | 10.6% | 9.4% | −7.6% | 31.9% | 58% |
| HDFC Manufacturing | 14.7 | 26.1 | 30.6 | 16.9 | 10.0 | 1.7 | 0.0 | 6.8% | 6.9% | −4.2% | 23.5% | 36% |
| Nifty India Manufacturing TRI | 21.6 | 15.0 | 15.2 | 27.1 | 13.0 | 6.1 | 1.9 | 8.5% | 9.3% | −6.6% | 29.7% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty India Manufacturing TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 16-05-2024. Past returns do not promise future returns.
Aditya Birla Sun Life Manufacturing Equity vs HDFC Manufacturing: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 02-05-2024 to 30-10-2026: 30 instalments, ₹3,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Aditya Birla Sun Life Manufacturing EquityAditya Birla Sun Life Manufacturing Equity Fund (Direct) | ₹3,00,000 | ₹3,43,957 | ₹43,957 | 11.0% |
| HDFC ManufacturingHDFC Manufacturing Fund (Direct) | ₹3,00,000 | ₹3,12,897 | ₹12,897 | 3.3% |
Aditya Birla Sun Life Manufacturing EquityAditya Birla Sun Life Manufacturing Equity Fund (Direct)
HDFC ManufacturingHDFC Manufacturing Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Aditya Birla Sun Life Manufacturing Equity vs HDFC Manufacturing: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Aditya Birla Sun Life Manufacturing Equity Fund (Direct) | HDFC Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.63% | −0.95% |
| Standard deviation | 16.04% | 16.40% |
| Sharpe ratio | 0.34 | -0.38 |
| Sortino ratio | 0.46 | -0.51 |
| Maximum drawdown | −12.1% (23-10-2026) | −12.0% (30-03-2026) |
| Beta | 0.96 | 1.00 |
| Alpha | +12.09% | +0.78% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Aditya Birla Sun Life Manufacturing Equity Fund (Direct) | HDFC Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.82% | +4.75% |
| Standard deviation | 15.53% | 15.83% |
| Sharpe ratio | 0.46 | -0.07 |
| Sortino ratio | 0.62 | -0.09 |
| Maximum drawdown | −39.2% (23-03-2020) | −21.5% (28-02-2025) |
| Beta | -- | 0.93 |
| Alpha | -- | −0.59% |
From daily NAVs, 03-02-2015 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Aditya Birla Sun Life Manufacturing Equity Fund (Direct)
HDFC Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Manufacturing Equity Fund (Direct) | −22.9% | 27-09-2024 | 07-04-2025 | 17-04-2026 | 12 months | −9.1% |
| HDFC Manufacturing Fund (Direct) | −21.5% | 27-09-2024 | 28-02-2025 | 06-05-2026 | 14 months | −8.6% |
| Nifty India Manufacturing TRI | −23.0% | 27-09-2024 | 07-04-2025 | 05-01-2026 | 9 months | −10.5% |
From daily values since 16-05-2024, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Manufacturing Equity Fund (Direct)
HDFC Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Aditya Birla Sun Life Manufacturing Equity Fund (Direct) | 120% | 96% | 6.43% |
| HDFC Manufacturing Fund (Direct) | 93% | 91% | 4.44% |
From month-end values since 16-05-2024. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Aditya Birla Sun Life Manufacturing Equity vs HDFC Manufacturing: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Manufacturing Equity Fund, September 2026; HDFC Manufacturing Fund, September 2026
Holdings in common
- Overlap
- 30.2%
- Held by both
- 26
- Only in Aditya Birla Sun Life Manufacturing Equity
- 44
- Only in HDFC Manufacturing
- 63
| Security | % of Aditya Birla Sun Life Manufacturing Equity | % of HDFC Manufacturing |
|---|---|---|
| Reliance Industries Ltd. | 3.14% | 4.50% |
| Mahindra & Mahindra Ltd. | 2.44% | 3.50% |
| Cummins India Ltd. | 2.94% | 2.06% |
| Cyient DLM Ltd. | 2.12% | 2.02% |
| Bharat Electronics Ltd. | 1.90% | 2.42% |
| Dixon Technologies (India) Ltd. | 1.70% | 1.85% |
| Hyundai Motor India Ltd. | 1.67% | 1.66% |
| Vedanta Aluminium Metal Ltd. | 1.80% | 1.65% |
| Bajaj Auto Ltd. | 1.58% | 2.22% |
| Bharat Forge Ltd. | 1.94% | 1.57% |
| Sun Pharmaceutical Industries Ltd. | 1.20% | 1.90% |
| Hindalco Industries Ltd. | 2.22% | 1.19% |
| Bharat Petroleum Corporation Ltd. | 1.07% | 1.68% |
| Gland Pharma Ltd. | 1.05% | 1.44% |
| Craftsman Automation Ltd. | 1.41% | 0.91% |
| Ambuja Cements Ltd. | 0.74% | 1.78% |
| Siemens Ltd. | 0.81% | 0.72% |
| Carborundum Universal Ltd. | 1.88% | 0.65% |
| ABB India Ltd. | 0.98% | 0.61% |
| Sona Blw Precision Forgings Ltd. | 2.26% | 0.60% |
| Piramal Pharma Ltd. | 1.06% | 0.48% |
| Biocon Ltd. | 0.64% | 0.39% |
| Samvardhana Motherson International Ltd. | 1.92% | 0.38% |
| Ather Energy Ltd. | 1.75% | 0.31% |
| PI Industries Ltd. | 0.47% | 0.11% |
| INDO-MIM Ltd. | 0.05% | 0.26% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.2% means 30.2% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Aditya Birla Sun Life Manufacturing Equity Fund
| Security | % of fund |
|---|---|
| Sansera Engineering Ltd. | 3.27% |
| Shilpa Medicare Ltd. | 2.38% |
| TD Power Systems Ltd. | 2.22% |
| Happy Forgings Ltd. | 2.12% |
| Jindal Steel Ltd. | 2.10% |
Largest holdings only in HDFC Manufacturing Fund
| Security | % of fund |
|---|---|
| Divis Laboratories Ltd. | 6.01% |
| Maruti Suzuki India Limited | 3.33% |
| JSW Steel Ltd. | 3.29% |
| Tata Motors Limited | 2.87% |
| Hindustan Aeronautics Limited | 2.38% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Manufacturing Equity | HDFC Manufacturing |
|---|---|---|
| Equity | 95.9% | 97.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.1% | 2.8% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Manufacturing Equity | HDFC Manufacturing |
|---|---|---|
| Large Cap | 33.3% | 49.8% |
| Mid Cap | 24.3% | 14.7% |
| Small Cap | 35.3% | 31.7% |
| Not on AMFI's list | 3.0% | 1.1% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Aditya Birla Sun Life Manufacturing Equity | HDFC Manufacturing |
|---|---|---|
| Industrial Products | 15.9% | 8.0% |
| Pharmaceuticals & Biotechnology | 13.3% | 15.7% |
| Auto Components | 13.4% | 8.6% |
| Automobiles | 9.1% | 13.0% |
| Aerospace & Defense | 4.0% | 8.4% |
| Petroleum Products | 4.2% | 8.0% |
| Consumer Durables | 7.3% | 4.6% |
| Electrical Equipment | 5.1% | 6.0% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Manufacturing Equity vs HDFC Manufacturing: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Manufacturing Equity Fund | HDFC Manufacturing Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.40% | 0.95% |
| Base expense ratio (Direct) | 1.05% | 0.73% |
| Total expense ratio (Regular) | 2.33% | 1.85% |
| Base expense ratio (Regular) | 1.85% | 1.50% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
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Aditya Birla Sun Life Manufacturing Equity Fund vs HDFC Manufacturing Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Manufacturing Equity Fund and HDFC Manufacturing Fund?
Aditya Birla Sun Life Manufacturing Equity Fund is a Thematic fund, HDFC Manufacturing Fund is a Thematic fund, run by Aditya Birla Sun Life Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 30.2%. Aditya Birla Sun Life Manufacturing Equity Fund charges 1.40% a year and HDFC Manufacturing Fund 0.95%.
Which has given higher returns, Aditya Birla Sun Life Manufacturing Equity Fund or HDFC Manufacturing Fund?
Over 1 year: Aditya Birla Sun Life Manufacturing Equity Fund +10.63%, HDFC Manufacturing Fund −0.95%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Aditya Birla Sun Life Manufacturing Equity Fund or HDFC Manufacturing Fund?
HDFC Manufacturing Fund charges less: 0.95% a year against 1.40%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Manufacturing Equity Fund and HDFC Manufacturing Fund overlap?
30.2%. They hold 26 of the same securities, the largest shared ones being RELIANCE, M&M, CUMMINSIND. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Manufacturing Equity Fund or HDFC Manufacturing Fund?
On SEBI's riskometer, Aditya Birla Sun Life Manufacturing Equity Fund is rated Very High and HDFC Manufacturing Fund Very High. Over 1 years, the standard deviation of daily returns was 16.04% and 16.40% a year.
Can I invest in both Aditya Birla Sun Life Manufacturing Equity Fund and HDFC Manufacturing Fund?
Yes. 30.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Aditya Birla Sun Life Manufacturing Equity Fund and HDFC Manufacturing Fund?
Aditya Birla Sun Life Manufacturing Equity Fund: Dhaval Joshi. HDFC Manufacturing Fund: Rakesh Sethia, Gopal Agrawal, Bhagyesh Kagalkar.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.