Axis Dynamic Term Fund vs HSBC Banking and PSU Debt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Dynamic Term Fund is a Dynamic Bond fund and HSBC Banking and PSU Debt Fund is a Banking & PSU fund. In the 3 years to 30-10-2026, Axis Dynamic Term Fund (Direct) returned 7.3% a year and HSBC Banking and PSU Debt Fund (Direct) returned 6.7% a year. Axis Dynamic Term Fund charges 0.34% a year and HSBC Banking and PSU Debt Fund 0.28% (Direct plans). Their portfolios overlap 10.9%: they hold 8 of the same securities.
Axis Dynamic Term Fund
Dynamic Bond
- 3 year return
- 7.3%
- Expense ratio
- 0.34%
- NAV
- ₹34.66
HSBC Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 6.7%
- Expense ratio
- 0.28%
- NAV
- ₹27.14
Which is better, Axis Dynamic Term or HSBC Banking and PSU Debt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Dynamic Term returned more over 3 years: 7.3% a year against 6.7%.
- Axis Dynamic Term returned more over 1 year: 4.8% against 3.8%.
- HSBC Banking and PSU Debt costs less: 0.28% a year against 0.34% (Direct plans).
- HSBC Banking and PSU Debt swung less over 3 years: a standard deviation of 1.0% a year against 1.9%.
- HSBC Banking and PSU Debt fell less in its worst fall since 28-11-2022: −0.7% against −1.3%.
- HSBC Banking and PSU Debt is the larger fund: ₹3,722 Cr against ₹969 Cr.
- Their portfolios overlap 10.9%: 8 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 | Axis Dynamic Term Fund | HSBC Banking and PSU Debt Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | HSBC Mutual Fund |
| Category | Dynamic Bond | Banking & PSU |
| AUM | ₹969 Cr (30-09-2026) | ₹3,722 Cr (30-09-2026) |
| NAV | ₹34.66 (Direct) | ₹27.14 (Direct) |
| Expense ratio (Direct) | 0.34% | 0.28% |
| Expense ratio (Regular) | 0.65% | 0.61% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Composite Debt Index A-III | NIFTY Banking & PSU Debt Index A-II |
| Launch date | 27-04-2011 | 20-09-2007 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Devang Shah, Hardik Shah | Mahesh Chhabria, Mohd. Asif Rizwi |
| Exit load | Nil | Nil |
Axis Dynamic Term vs HSBC Banking and PSU Debt: 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 |
|---|---|---|---|---|---|---|---|
| Axis Dynamic Term Fund (Direct) | −0.32% | −0.16% | +2.80% | +4.84% | +7.30% | +6.14% | +7.25% |
| HSBC Banking and PSU Debt Fund (Direct) | −0.24% | −0.04% | +2.24% | +3.81% | +6.70% | -- | -- |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | +5.98% | +6.68% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | -- | -- |
Category average: the average of the 22 Dynamic Bond funds and the 19 Banking & PSU funds, same plan type.
Axis Dynamic Term vs HSBC Banking and PSU Debt: Year-wise Returns
| Year | Axis Dynamic TermAxis Dynamic Term | HSBC Banking and PSU DebtHSBC Banking and PSU Debt |
|---|---|---|
| 2026to date | +4.03% | +3.10% |
| 2025 | +7.41% | +7.90% |
| 2024 | +8.85% | +7.68% |
| 2023 | +6.98% | +6.90% |
| 2022 | +2.51% | -- |
| 2021 | +4.32% | -- |
Axis Dynamic Term vs HSBC Banking and PSU Debt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 226 of them, one for each trading day from 28-11-2025 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.
Axis Dynamic Term Fund (Direct)
HSBC Banking and PSU Debt Fund (Direct)
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Dynamic Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.5% | 6.7% | 7.9% |
| HSBC Banking and PSU Debt | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.1% | 7.1% | 6.6% | 7.6% |
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. Every fund is measured over the days all of them have, from 28-11-2022. Past returns do not promise future returns.
Axis Dynamic Term vs HSBC Banking and PSU Debt: 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 01-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Dynamic TermAxis Dynamic Term Fund (Direct) | ₹4,80,000 | ₹5,48,105 | ₹68,105 | 6.6% |
| HSBC Banking and PSU DebtHSBC Banking and PSU Debt Fund (Direct) | ₹4,80,000 | ₹5,43,226 | ₹63,226 | 6.1% |
Axis Dynamic TermAxis Dynamic Term Fund (Direct)
HSBC Banking and PSU DebtHSBC Banking and PSU Debt 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.
Axis Dynamic Term vs HSBC Banking and PSU Debt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Dynamic Term Fund (Direct) | HSBC Banking and PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.84% | +3.81% |
| Standard deviation | 1.92% | 1.32% |
| Sharpe ratio | -0.21 | -1.08 |
| Sortino ratio | -0.31 | -1.48 |
| Maximum drawdown | −1.2% (02-04-2026) | −0.7% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Axis Dynamic Term Fund (Direct) | HSBC Banking and PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.30% | +6.70% |
| Standard deviation | 1.87% | 1.00% |
| Sharpe ratio | 0.68 | 0.67 |
| Sortino ratio | 0.99 | 1.00 |
| Maximum drawdown | −1.3% (26-08-2025) | −0.7% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 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 | Axis Dynamic Term Fund (Direct) | HSBC Banking and PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.19% | +6.62% |
| Standard deviation | 3.21% | 0.97% |
| Sharpe ratio | 0.67 | 0.45 |
| Sortino ratio | 0.95 | 0.67 |
| Maximum drawdown | −7.1% (19-08-2013) | −0.7% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-01-2013 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.
Axis Dynamic Term Fund (Direct)
HSBC Banking and PSU Debt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Dynamic Term Fund (Direct) | −1.3% | 22-07-2025 | 26-08-2025 | 03-10-2025 | 38 days | −0.8% |
| HSBC Banking and PSU Debt Fund (Direct) | −0.7% | 14-08-2026 | 23-10-2026 | Not yet | -- | −0.5% |
From daily values since 28-11-2022, 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.
Axis Dynamic Term Fund (Direct)
HSBC Banking and PSU Debt Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Dynamic Term Fund (Direct)
HSBC Banking and PSU Debt Fund (Direct)
Axis Dynamic Term vs HSBC Banking and PSU Debt: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Dynamic Term Fund, September 2026; HSBC Banking and PSU Debt Fund, September 2026
Holdings in common
- Overlap
- 10.9%
- Held by both
- 8
- Only in Axis Dynamic Term
- 46
- Only in HSBC Banking and PSU Debt
- 64
| Security | % of Axis Dynamic Term | % of HSBC Banking and PSU Debt |
|---|---|---|
| 7.48% National Bank For Agriculture and Rural Development (15/09/2028) | 2.56% | 3.08% |
| 6.94% Government of India (11/05/2036) | 2.54% | 3.39% |
| Bank of Baroda (03/02/2027) | 2.52% | 1.31% |
| Canara Bank (12/03/2027) | 10.01% | 1.30% |
| Shivshakti Securitisation Trust (28/09/2029) | 1.08% | 2.18% |
| Siddhivinayak Securitisation Trust (28/09/2030) | 1.08% | 1.03% |
| 8.49% National Highways Authority Of India (05/02/2029) | 0.93% | 0.72% |
| SBI - Corporate Debt Market Development Fund (CDMDF) - Class A2 | 0.54% | 0.38% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 10.9% means 10.9% 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 Axis Dynamic Term Fund
| Security | % of fund |
|---|---|
| 7.3% Government of India (19/06/2053) | 7.43% |
| Kotak Mahindra Bank Limited (29/01/2027) | 5.05% |
| Small Industries Dev Bank of India (04/02/2027) | 5.04% |
| 7.52% Power Grid Corporation of India Limited (23/03/2033) | 3.49% |
| 7.09% Government of India (05/08/2054) | 3.37% |
Largest holdings only in HSBC Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| EXIM Bank | 3.51% |
| Indian Railway Finance Corporation Ltd | 2.94% |
| EXIM Bank | 2.80% |
| Bharti Telecom Limited | 2.76% |
| Housing and Urban Development Corp. Ltd. | 2.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Dynamic Term | HSBC Banking and PSU Debt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 70.3% | 95.3% |
| Cash and others | 29.7% | 4.7% |
Axis Dynamic Term vs HSBC Banking and PSU Debt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Dynamic Term Fund | HSBC Banking and PSU Debt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.34% | 0.28% |
| Base expense ratio (Direct) | 0.27% | 0.23% |
| Total expense ratio (Regular) | 0.65% | 0.61% |
| Base expense ratio (Regular) | 0.53% | 0.51% |
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
Compare Axis Dynamic Term with
Compare HSBC Banking and PSU Debt with
Axis Dynamic Term Fund vs HSBC Banking and PSU Debt Fund: Frequently Asked Questions
What is the difference between Axis Dynamic Term Fund and HSBC Banking and PSU Debt Fund?
Axis Dynamic Term Fund is a Dynamic Bond fund, HSBC Banking and PSU Debt Fund is a Banking & PSU fund, run by Axis Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 10.9%. Axis Dynamic Term Fund charges 0.34% a year and HSBC Banking and PSU Debt Fund 0.28%.
Which has given higher returns, Axis Dynamic Term Fund or HSBC Banking and PSU Debt Fund?
Over 1 year: Axis Dynamic Term Fund +4.84%, HSBC Banking and PSU Debt Fund +3.81%. Over 3 years: Axis Dynamic Term Fund +7.30% a year, HSBC Banking and PSU Debt Fund +6.70% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Dynamic Term Fund or HSBC Banking and PSU Debt Fund?
HSBC Banking and PSU Debt Fund charges less: 0.28% a year against 0.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Dynamic Term Fund and HSBC Banking and PSU Debt Fund overlap?
10.9%. They hold 8 of the same securities, the largest shared ones being 7.48% National Bank For Agriculture and Rural Development (15/09/2028), 6.94% Government of India (11/05/2036), Bank of Baroda (03/02/2027). From each fund's latest monthly portfolio.
Which is riskier, Axis Dynamic Term Fund or HSBC Banking and PSU Debt Fund?
On SEBI's riskometer, Axis Dynamic Term Fund is rated Moderate and HSBC Banking and PSU Debt Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.87% and 1.00% a year.
Which is better for SIP, Axis Dynamic Term Fund or HSBC Banking and PSU Debt Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,07,678 in Axis Dynamic Term Fund (XIRR 6.2% a year) and ₹4,04,931 in HSBC Banking and PSU Debt Fund (XIRR 5.8% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Dynamic Term Fund and HSBC Banking and PSU Debt Fund?
Yes. 10.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Dynamic Term Fund and HSBC Banking and PSU Debt Fund?
Axis Dynamic Term Fund: Devang Shah, Hardik Shah. HSBC Banking and PSU Debt Fund: Mahesh Chhabria, Mohd. Asif Rizwi.
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.