Axis Multicap Fund vs HSBC Aggressive Hybrid Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Multicap Fund is a Multi Cap fund and HSBC Aggressive Hybrid Fund is an Aggressive Hybrid fund. In the 3 years to 30-10-2026, Axis Multicap Fund (Direct) returned 18.7% a year and HSBC Aggressive Hybrid Fund (Direct) returned 12.8% a year. Axis Multicap Fund charges 0.93% a year and HSBC Aggressive Hybrid Fund 0.98% (Direct plans). Their portfolios overlap 34.2%: they hold 34 of the same securities.
HSBC Aggressive Hybrid Fund
Aggressive Hybrid
- 3 year return
- 12.8%
- Expense ratio
- 0.98%
- NAV
- ₹65.67
Which is better, Axis Multicap or HSBC Aggressive Hybrid? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Multicap returned more over 3 years: 18.7% a year against 12.8%.
- Axis Multicap returned more over 1 year: 3.8% against 0.1%.
- Axis Multicap costs less: 0.93% a year against 0.98% (Direct plans).
- HSBC Aggressive Hybrid swung less over 3 years: a standard deviation of 13.5% a year against 14.9%.
- Axis Multicap fell less in its worst fall since 28-11-2022: −18.1% against −19.6%.
- Axis Multicap is the larger fund: ₹11,972 Cr against ₹5,652 Cr.
- Their portfolios overlap 34.2%: 34 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 Multicap Fund | HSBC Aggressive Hybrid Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | HSBC Mutual Fund |
| Category | Multi Cap | Aggressive Hybrid |
| AUM | ₹11,972 Cr (30-09-2026) | ₹5,652 Cr (30-09-2026) |
| NAV | ₹20.12 (Direct) | ₹65.67 (Direct) |
| Expense ratio (Direct) | 0.93% | 0.98% |
| Expense ratio (Regular) | 1.99% | 1.99% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | NIFTY 50 Hybrid Composite Debt 65:35 Index |
| Launch date | 17-12-2021 | 07-02-2011 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Shreyash Devalkar, Hitesh Das | Gautam Bhupal, Shriram Ramanathan, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days | Exit load of 1% if units in excess of 10% are redeemed or switched-out within 1 year |
Axis Multicap vs HSBC Aggressive Hybrid: 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 Multicap Fund (Direct) | −1.18% | +0.20% | +7.65% | +3.76% | +18.70% | -- | -- |
| HSBC Aggressive Hybrid Fund (Direct) | −2.00% | −1.75% | +3.01% | +0.09% | +12.82% | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
| Aggressive Hybrid average | −0.88% | −3.67% | −0.27% | −3.33% | +10.77% | -- | -- |
Category average: the average of the 33 Multi Cap funds and the 29 Aggressive Hybrid funds, same plan type.
Axis Multicap vs HSBC Aggressive Hybrid: Year-wise Returns
| Year | Axis MulticapAxis Multicap | HSBC Aggressive HybridHSBC Aggressive Hybrid |
|---|---|---|
| 2026to date | +5.62% | +1.78% |
| 2025 | +2.42% | +2.49% |
| 2024 | +33.81% | +23.98% |
| 2023 | +38.31% | +25.59% |
| 2022 | −0.20% | -- |
Axis Multicap vs HSBC Aggressive Hybrid: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Axis Multicap Fund
Rolling returns
Every 3-year holding period, 230 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 Multicap Fund (Direct)
HSBC Aggressive Hybrid Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Multicap | 0.0 | 0.0 | 0.0 | 0.0 | 17.8 | 81.7 | 0.4 | 21.7% | 21.8% | 17.0% | 25.1% | 100% |
| HSBC Aggressive Hybrid | 0.0 | 0.0 | 0.0 | 49.6 | 50.4 | 0.0 | 0.0 | 15.1% | 15.0% | 11.5% | 17.8% | 23% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 31.7 | 66.1 | 2.2 | 0.0 | 16.1% | 16.8% | 10.1% | 20.3% | -- |
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 Nifty500 Multicap 50:25:25 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 28-11-2022. Past returns do not promise future returns.
Axis Multicap vs HSBC Aggressive Hybrid: 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 MulticapAxis Multicap Fund (Direct) | ₹4,80,000 | ₹6,45,534 | ₹1,65,534 | 14.9% |
| HSBC Aggressive HybridHSBC Aggressive Hybrid Fund (Direct) | ₹4,80,000 | ₹5,81,587 | ₹1,01,587 | 9.6% |
Axis MulticapAxis Multicap Fund (Direct)
HSBC Aggressive HybridHSBC Aggressive Hybrid 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 Multicap vs HSBC Aggressive Hybrid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Multicap Fund (Direct) | HSBC Aggressive Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.76% | +0.09% |
| Standard deviation | 15.43% | 12.48% |
| Sharpe ratio | -0.10 | -0.41 |
| Sortino ratio | -0.13 | -0.56 |
| Maximum drawdown | −13.2% (23-03-2026) | −10.7% (23-03-2026) |
| Beta | 1.00 | -- |
| Alpha | +9.82% | -- |
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 Multicap Fund (Direct) | HSBC Aggressive Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.70% | +12.82% |
| Standard deviation | 14.93% | 13.55% |
| Sharpe ratio | 0.85 | 0.50 |
| Sortino ratio | 1.16 | 0.67 |
| Maximum drawdown | −18.1% (28-02-2025) | −19.6% (28-02-2025) |
| Beta | 0.96 | -- |
| Alpha | +7.66% | -- |
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 Multicap Fund (Direct) | HSBC Aggressive Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.48% | +12.67% |
| Standard deviation | 13.92% | 12.44% |
| Sharpe ratio | 0.69 | 0.52 |
| Sortino ratio | 0.94 | 0.70 |
| Maximum drawdown | −18.1% (28-02-2025) | −19.6% (28-02-2025) |
| Beta | 0.89 | -- |
| Alpha | +4.98% | -- |
From daily NAVs, 23-12-2021 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.
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 Multicap Fund (Direct)
HSBC Aggressive Hybrid Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Multicap Fund (Direct) | −18.1% | 26-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −5.7% |
| HSBC Aggressive Hybrid Fund (Direct) | −19.6% | 16-12-2024 | 28-02-2025 | 17-09-2025 | 7 months | −5.6% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
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 Multicap Fund (Direct)
HSBC Aggressive Hybrid Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
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 Multicap Fund (Direct)
HSBC Aggressive Hybrid Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Multicap Fund (Direct) | 113% | 84% | 4.39% |
| HSBC Aggressive Hybrid Fund (Direct) | 85% | 71% | 5.72% |
From month-end values since 28-11-2022. 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.
Axis Multicap vs HSBC Aggressive Hybrid: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Multicap Fund, September 2026; HSBC Aggressive Hybrid Fund, September 2026
Holdings in common
- Overlap
- 34.2%
- Held by both
- 34
- Only in Axis Multicap
- 74
- Only in HSBC Aggressive Hybrid
- 63
| Security | % of Axis Multicap | % of HSBC Aggressive Hybrid |
|---|---|---|
| ICICI Bank Limited | 3.25% | 4.40% |
| HDFC Bank Limited | 2.72% | 3.16% |
| Eternal Limited | 2.41% | 2.69% |
| TD Power Systems Limited | 1.92% | 1.48% |
| GE Vernova T&D India Limited | 1.43% | 3.49% |
| Bharti Airtel Limited | 1.40% | 1.44% |
| Multi Commodity Exchange of India Limited | 1.97% | 1.29% |
| RBL Bank Limited | 1.76% | 1.29% |
| Axis Bank Limited | 1.45% | 1.24% |
| Mahindra & Mahindra Limited | 1.37% | 1.24% |
| Radico Khaitan Limited | 1.22% | 2.55% |
| Karur Vysya Bank Limited | 1.07% | 2.73% |
| Divi's Laboratories Limited | 1.12% | 1.01% |
| Sai Life Sciences Limited | 1.31% | 0.99% |
| Bajaj Finance Limited | 1.25% | 0.96% |
| InterGlobe Aviation Limited | 0.96% | 2.16% |
| FSN E-Commerce Ventures Limited | 0.87% | 1.30% |
| Cholamandalam Investment and Finance Company Ltd | 0.77% | 1.46% |
| Lenskart Solutions Limited | 0.77% | 1.43% |
| Dhoot Transmission Ltd | 0.75% | 1.43% |
| Sun Pharmaceutical Industries Limited | 0.72% | 0.77% |
| Bharat Electronics Limited | 0.66% | 1.93% |
| CG Power and Industrial Solutions Limited | 0.65% | 2.67% |
| PB Fintech Limited | 0.76% | 0.63% |
| Larsen & Toubro Limited | 1.36% | 0.55% |
| Global Health Limited | 0.63% | 0.52% |
| Vijaya Diagnostic Centre Limited | 0.51% | 0.57% |
| MTAR Technologies Limited | 0.68% | 0.48% |
| Billionbrains Garage Ventures Ltd | 0.46% | 1.68% |
| Blue Star Limited | 0.44% | 1.04% |
| Apar Industries Limited | 2.03% | 0.39% |
| Meesho Ltd | 0.39% | 0.60% |
| Swiggy Limited | 0.56% | 0.36% |
| CCL Products (India) Limited | 0.40% | 0.29% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.2% means 34.2% 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 Axis Multicap Fund
| Security | % of fund |
|---|---|
| Sona BLW Precision Forgings Limited | 2.53% |
| Welspun Corp Limited | 2.35% |
| Shriram Finance Limited | 1.91% |
| Ather Energy Limited | 1.78% |
| Sansera Engineering Limited | 1.77% |
Largest holdings only in HSBC Aggressive Hybrid Fund
| Security | % of fund |
|---|---|
| ICICI Prudential AMC Ltd | 1.80% |
| PTC INDUSTRIES LIMITED | 1.55% |
| Maruti Suzuki India Limited | 1.51% |
| KEI Industries Limited | 1.48% |
| Motilal Oswal Financial Services Limited | 1.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Multicap | HSBC Aggressive Hybrid |
|---|---|---|
| Equity | 95.4% | 74.6% |
| Debt | 0.0% | 20.3% |
| Cash and others | 4.6% | 5.1% |
Market cap of stocks
| Market cap | Axis Multicap | HSBC Aggressive Hybrid |
|---|---|---|
| Large Cap | 39.1% | 32.5% |
| Mid Cap | 23.8% | 19.9% |
| Small Cap | 28.5% | 18.4% |
| Not on AMFI's list | 3.9% | 3.8% |
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 | Axis Multicap | HSBC Aggressive Hybrid |
|---|---|---|
| Banks | 15.2% | 12.8% |
| Auto Components | 10.0% | 1.9% |
| Capital Markets | 3.8% | 10.0% |
| Electrical Equipment | 9.8% | 9.2% |
| Pharmaceuticals & Biotechnology | 7.8% | 4.0% |
| Retailing | 5.3% | 6.4% |
| Automobiles | 5.0% | 3.3% |
| Industrial Products | 3.8% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Multicap vs HSBC Aggressive Hybrid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Multicap Fund | HSBC Aggressive Hybrid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 0.98% |
| Base expense ratio (Direct) | 0.59% | 0.73% |
| Total expense ratio (Regular) | 1.99% | 1.99% |
| Base expense ratio (Regular) | 1.48% | 1.59% |
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 Multicap with
Axis Multicap Fund vs HSBC Aggressive Hybrid Fund: Frequently Asked Questions
What is the difference between Axis Multicap Fund and HSBC Aggressive Hybrid Fund?
Axis Multicap Fund is a Multi Cap fund, HSBC Aggressive Hybrid Fund is an Aggressive Hybrid fund, run by Axis Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 34.2%. Axis Multicap Fund charges 0.93% a year and HSBC Aggressive Hybrid Fund 0.98%.
Which has given higher returns, Axis Multicap Fund or HSBC Aggressive Hybrid Fund?
Over 1 year: Axis Multicap Fund +3.76%, HSBC Aggressive Hybrid Fund +0.09%. Over 3 years: Axis Multicap Fund +18.70% a year, HSBC Aggressive Hybrid Fund +12.82% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Multicap Fund or HSBC Aggressive Hybrid Fund?
Axis Multicap Fund charges less: 0.93% a year against 0.98%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Multicap Fund and HSBC Aggressive Hybrid Fund overlap?
34.2%. They hold 34 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, Axis Multicap Fund or HSBC Aggressive Hybrid Fund?
On SEBI's riskometer, Axis Multicap Fund is rated Very High and HSBC Aggressive Hybrid Fund Very High. Over 3 years, the standard deviation of daily returns was 14.93% and 13.55% a year.
Which is better for SIP, Axis Multicap Fund or HSBC Aggressive Hybrid Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,34,373 in Axis Multicap Fund (XIRR 10.4% a year) and ₹4,09,880 in HSBC Aggressive Hybrid Fund (XIRR 6.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Multicap Fund and HSBC Aggressive Hybrid Fund?
Yes. 34.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Multicap Fund and HSBC Aggressive Hybrid Fund?
Axis Multicap Fund: Nitin Arora, Shreyash Devalkar, Hitesh Das. HSBC Aggressive Hybrid Fund: Gautam Bhupal, Shriram Ramanathan, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh.
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.