Axis Medium Term Fund vs HDFC Credit Risk Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Medium Term Fund is a Medium Duration fund and HDFC Credit Risk Fund is a Credit Risk fund. In the 3 years to 30-10-2026, Axis Medium Term Fund (Direct) returned 8.2% a year and HDFC Credit Risk Fund (Direct) returned 8.0% a year. Axis Medium Term Fund charges 0.71% a year and HDFC Credit Risk Fund 1.01% (Direct plans). Their portfolios overlap 20.0%: they hold 19 of the same securities.
Axis Medium Term Fund
Medium Duration
- 3 year return
- 8.2%
- Expense ratio
- 0.71%
- NAV
- ₹33.27
HDFC Credit Risk Fund
Credit Risk
- 3 year return
- 8.0%
- Expense ratio
- 1.01%
- NAV
- ₹28.34
Which is better, Axis Medium Term or HDFC Credit Risk? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Medium Term returned more over 5 years: 7.2% a year against 7.0%.
- Axis Medium Term returned more over 3 years: 8.2% a year against 8.0%.
- Axis Medium Term costs less: 0.71% a year against 1.01% (Direct plans).
- HDFC Credit Risk swung less over 3 years: a standard deviation of 1.0% a year against 1.2%.
- Axis Medium Term fell less in its worst fall since 25-03-2014: −2.5% against −2.6%.
- HDFC Credit Risk is the larger fund: ₹7,631 Cr against ₹1,972 Cr.
- Their portfolios overlap 20.0%: 19 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 Medium Term Fund | HDFC Credit Risk Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | HDFC Mutual Fund |
| Category | Medium Duration | Credit Risk |
| AUM | ₹1,972 Cr (30-09-2026) | ₹7,631 Cr (30-09-2026) |
| NAV | ₹33.27 (Direct) | ₹28.34 (Direct) |
| Expense ratio (Direct) | 0.71% | 1.01% |
| Expense ratio (Regular) | 1.32% | 1.51% |
| Riskometer | Moderately High | High |
| Benchmark | NIFTY Medium Duration Debt Index A-III | NIFTY Credit Risk Bond Index B-II |
| Launch date | 28-03-2012 | 25-03-2014 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Devang Shah, Akhil Thakker, Sachin Jain | Praveen Jain, Bhavyesh Divecha, Gopal Agrawal |
| Exit load | NIL | Exit load for units in excess of 15% of the investment, 1% will be charged for redemption within 12 months and 0.50% if redeemed after 12 months but within 18 months. |
Axis Medium Term vs HDFC Credit Risk: 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 Medium Term Fund (Direct) | −0.24% | +0.15% | +2.91% | +5.40% | +8.16% | +7.20% | +7.69% |
| HDFC Credit Risk Fund (Direct) | −0.06% | +0.83% | +3.29% | +6.18% | +8.02% | +7.04% | +7.76% |
| Medium Duration average | −0.34% | −0.09% | +2.51% | +4.72% | +7.66% | +6.88% | +6.78% |
| Credit Risk average | −0.04% | +0.78% | +3.31% | +7.84% | +9.41% | +9.83% | +6.82% |
Category average: the average of the 13 Medium Duration funds and the 13 Credit Risk funds, same plan type.
Axis Medium Term vs HDFC Credit Risk: Year-wise Returns
| Year | Axis Medium TermAxis Medium Term | HDFC Credit RiskHDFC Credit Risk |
|---|---|---|
| 2026to date | +4.31% | +5.19% |
| 2025 | +8.91% | +8.61% |
| 2024 | +9.39% | +8.86% |
| 2023 | +8.04% | +7.27% |
| 2022 | +4.52% | +4.37% |
| 2021 | +5.95% | +7.58% |
Axis Medium Term vs HDFC Credit Risk: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,330 of them, one for each trading day from 27-03-2017 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 Medium Term Fund (Direct)
HDFC Credit Risk Fund (Direct)
to
Jan 2018Aug 2016
to
Aug 2019Apr 2018
to
Apr 2021Nov 2019
to
Nov 2022Jul 2021
to
Jul 2024Jan 2023
to
Jan 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 Medium Term | 0.0 | 0.0 | 92.8 | 7.2 | 0.0 | 0.0 | 0.0 | 8.3% | 8.3% | 6.0% | 12.0% |
| HDFC Credit Risk | 0.0 | 0.0 | 92.2 | 7.8 | 0.0 | 0.0 | 0.0 | 8.3% | 8.2% | 6.3% | 11.6% |
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 25-03-2014. Past returns do not promise future returns.
Axis Medium Term vs HDFC Credit Risk: 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 03-03-2014 to 30-10-2026: 152 instalments, ₹15,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Medium TermAxis Medium Term Fund (Direct) | ₹15,20,000 | ₹25,56,397 | ₹10,36,397 | 7.9% |
| HDFC Credit RiskHDFC Credit Risk Fund (Direct) | ₹15,20,000 | ₹25,70,959 | ₹10,50,959 | 7.9% |
Axis Medium TermAxis Medium Term Fund (Direct)
HDFC Credit RiskHDFC Credit Risk 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 Medium Term vs HDFC Credit Risk: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Medium Term Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.40% | +6.18% |
| Standard deviation | 1.40% | 1.23% |
| Sharpe ratio | 0.11 | 0.76 |
| Sortino ratio | 0.15 | 1.07 |
| Maximum drawdown | −0.7% (02-04-2026) | −0.5% (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 Medium Term Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.16% | +8.02% |
| Standard deviation | 1.18% | 0.99% |
| Sharpe ratio | 1.81 | 2.01 |
| Sortino ratio | 2.72 | 3.00 |
| Maximum drawdown | −0.7% (02-04-2026) | −0.5% (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 Medium Term Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.20% | +7.04% |
| Standard deviation | 1.25% | 1.04% |
| Sharpe ratio | 1.12 | 1.20 |
| Sortino ratio | 1.58 | 1.58 |
| Maximum drawdown | −1.2% (06-05-2022) | −1.5% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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 Medium Term Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.44% | +8.61% |
| Standard deviation | 2.44% | 1.44% |
| Sharpe ratio | 0.98 | 1.93 |
| Sortino ratio | 1.36 | 2.99 |
| Maximum drawdown | −7.3% (19-08-2013) | −2.6% (26-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 08-01-2013 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 Medium Term Fund (Direct)
HDFC Credit Risk Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Medium Term Fund (Direct) | −2.5% | 09-03-2020 | 23-03-2020 | 20-04-2020 | 28 days | −0.4% |
| HDFC Credit Risk Fund (Direct) | −2.6% | 06-03-2020 | 26-03-2020 | 17-06-2020 | 3 months | −0.2% |
From daily values since 25-03-2014, 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 Medium Term Fund (Direct)
HDFC Credit Risk 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 Medium Term Fund (Direct)
HDFC Credit Risk Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Medium Term Fund (Direct)
HDFC Credit Risk Fund (Direct)
Axis Medium Term vs HDFC Credit Risk: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Medium Term Fund, September 2026; HDFC Credit Risk Fund, September 2026
Holdings in common
- Overlap
- 20.0%
- Held by both
- 19
- Only in Axis Medium Term
- 58
- Only in HDFC Credit Risk
- 74
| Security | % of Axis Medium Term | % of HDFC Credit Risk |
|---|---|---|
| Jubilant Beverages Limited (31/05/2028) (ZCB) | 3.69% | 2.82% |
| Jubilant Bevco Limited (31/05/2028) (ZCB) | 3.14% | 2.62% |
| 5% GMR Airports Limited (13/02/2027) | 2.15% | 4.87% |
| Bamboo Hotel And Global Centre (Delhi) Private limited (31/01/2028) | 2.03% | 2.63% |
| 6.94% Government of India (11/05/2036) | 8.85% | 2.00% |
| 8.60% Aditya Birla Renewables Limited (24/09/2027) | 1.77% | 2.75% |
| Aadhar Housing Fin FRN 3MTBIL+2.5% Aadhar Housing Finance Limited (03/08/2029) (FRN) | 2.54% | 1.51% |
| JTPM Metal Traders Limited (29/09/2028) (ZCB) | 1.37% | 2.12% |
| Raajmarg Infra Investment Trust | 1.08% | 1.29% |
| Siddhivinayak Securitisation Trust (28/09/2030) | 0.92% | 2.19% |
| 9% Aditya Birla Digital Fashion Ventures Limited (20/07/2029) | 0.50% | 0.97% |
| SBI - Corporate Debt Market Development Fund (CDMDF) - Class A2 | 0.32% | 0.33% |
| Shivshakti Securitisation Trust (28/09/2029) | 0.92% | 0.31% |
| Capital Infra Trust | 1.03% | 0.27% |
| 7.34% Government of India (22/04/2064) | 0.14% | 0.62% |
| Embassy Office Parks REIT | 0.06% | 0.97% |
| 7.23% Government of India (15/04/2039) | 0.05% | 0.78% |
| Cube Highways Trust-InvIT Fund | 0.04% | 1.38% |
| Indus Infra Trust | 0.02% | 3.23% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.0% means 20.0% 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 Medium Term Fund
| Security | % of fund |
|---|---|
| 8.58% GMR Hyderabad International Airport Limited (28/03/2034) | 3.29% |
| 7.18% Tamilnadu State Development Loans (03/12/2033) | 3.14% |
| 8% Adani Power Limited (27/01/2028) | 3.03% |
| 9.5% Delhi International Airport Limited (22/03/2034) | 2.84% |
| 8.8% Aditya Birla Digital Fashion Ventures Limited (26/08/2027) | 2.78% |
Largest holdings only in HDFC Credit Risk Fund
| Security | % of fund |
|---|---|
| Nirma Ltd. | 3.94% |
| Triumph Composites Private Limited | 3.12% |
| Kalpataru Projects International Ltd | 2.62% |
| 8.28% Tamilnadu SDL MAT 210228 | 2.33% |
| JSW Energy Ltd. | 2.30% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Medium Term | HDFC Credit Risk |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.0% | 88.8% |
| Cash and others | 5.0% | 11.2% |
Axis Medium Term vs HDFC Credit Risk: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Medium Term Fund | HDFC Credit Risk Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.71% | 1.01% |
| Base expense ratio (Direct) | 0.60% | 0.86% |
| Total expense ratio (Regular) | 1.32% | 1.51% |
| Base expense ratio (Regular) | 1.12% | 1.29% |
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 Medium Term with
Axis Medium Term Fund vs HDFC Credit Risk Fund: Frequently Asked Questions
What is the difference between Axis Medium Term Fund and HDFC Credit Risk Fund?
Axis Medium Term Fund is a Medium Duration fund, HDFC Credit Risk Fund is a Credit Risk fund, run by Axis Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 20.0%. Axis Medium Term Fund charges 0.71% a year and HDFC Credit Risk Fund 1.01%.
Which has given higher returns, Axis Medium Term Fund or HDFC Credit Risk Fund?
Over 1 year: Axis Medium Term Fund +5.40%, HDFC Credit Risk Fund +6.18%. Over 3 years: Axis Medium Term Fund +8.16% a year, HDFC Credit Risk Fund +8.02% a year. Over 5 years: Axis Medium Term Fund +7.20% a year, HDFC Credit Risk Fund +7.04% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Medium Term Fund or HDFC Credit Risk Fund?
Axis Medium Term Fund charges less: 0.71% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Medium Term Fund and HDFC Credit Risk Fund overlap?
20.0%. They hold 19 of the same securities, the largest shared ones being Jubilant Beverages Limited (31/05/2028) (ZCB), Jubilant Bevco Limited (31/05/2028) (ZCB), 5% GMR Airports Limited (13/02/2027). From each fund's latest monthly portfolio.
Which is riskier, Axis Medium Term Fund or HDFC Credit Risk Fund?
On SEBI's riskometer, Axis Medium Term Fund is rated Moderately High and HDFC Credit Risk Fund High. Over 3 years, the standard deviation of daily returns was 1.18% and 0.99% a year.
Which is better for SIP, Axis Medium Term Fund or HDFC Credit Risk Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,38,914 in Axis Medium Term Fund (XIRR 7.5% a year) and ₹7,38,849 in HDFC Credit Risk Fund (XIRR 7.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Medium Term Fund and HDFC Credit Risk Fund?
Yes. 20.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Medium Term Fund and HDFC Credit Risk Fund?
Axis Medium Term Fund: Devang Shah, Akhil Thakker, Sachin Jain. HDFC Credit Risk Fund: Praveen Jain, Bhavyesh Divecha, Gopal Agrawal.
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.