Axis Nifty Capital Markets Index Fund vs HSBC Financial Services Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Nifty Capital Markets Index Fund is an Index fund and HSBC Financial Services Fund is a Thematic fund. Axis Nifty Capital Markets Index Fund charges 0.78% a year and HSBC Financial Services Fund 0.99% (Direct plans). Their portfolios overlap 23.1%: they hold 9 of the same securities.
Axis Nifty Capital Markets Index Fund
Index
- Expense ratio
- 0.78%
- NAV
- ₹9.18
Which is better, Axis Nifty Capital Markets Index or HSBC Financial Services? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Nifty Capital Markets Index costs less: 0.78% a year against 0.99% (Direct plans).
- HSBC Financial Services fell less in its worst fall since 25-05-2026: −11.7% against −12.8%.
- HSBC Financial Services holds more in large companies: 51.5% of the fund in large caps against 40.5%.
- HSBC Financial Services is the larger fund: ₹903 Cr against ₹124 Cr.
- Their portfolios overlap 23.1%: 9 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 Nifty Capital Markets Index Fund | HSBC Financial Services Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | HSBC Mutual Fund |
| Category | Index | Thematic |
| AUM | ₹124 Cr (30-09-2026) | ₹903 Cr (30-09-2026) |
| NAV | ₹9.18 (Direct) | ₹11.77 (Direct) |
| Expense ratio (Direct) | 0.78% | 0.99% |
| Expense ratio (Regular) | 1.53% | 2.44% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Capital Markets Index (TRI) | BSE Financial Services TRI |
| Launch date | 20-05-2026 | 27-02-2025 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | Exit load of 0.25%, if redeemed within 15 Days. | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 days. |
Axis Nifty Capital Markets Index vs HSBC Financial Services: 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 Nifty Capital Markets Index Fund (Direct) | +0.87% | −1.81% | -- | -- | -- | -- | -- |
| HSBC Financial Services Fund (Direct) | −2.86% | −6.79% | −4.31% | −1.91% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Axis Nifty Capital Markets Index vs HSBC Financial Services: Year-wise Returns
| Year | Axis Nifty Capital Markets IndexAxis Nifty Capital Markets Index | HSBC Financial ServicesHSBC Financial Services |
|---|---|---|
| 2026to date | -- | −4.56% |
Axis Nifty Capital Markets Index vs HSBC Financial Services: Rolling Returns
Every holding period of both funds, against Nifty Capital Markets TRI, the benchmark of Axis Nifty Capital Markets Index Fund
Axis Nifty Capital Markets Index vs HSBC Financial Services: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty Capital Markets Index Fund (Direct) | HSBC Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | −19.44% | +10.27% |
| Standard deviation | 19.59% | 16.88% |
| Sharpe ratio | -1.26 | 0.29 |
| Sortino ratio | -1.74 | 0.41 |
| Maximum drawdown | −12.8% (23-10-2026) | −14.8% (30-03-2026) |
| Beta | 1.00 | 1.01 |
| Alpha | −0.30% | +3.86% |
From daily NAVs, 25-05-2026 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 Nifty Capital Markets Index Fund (Direct)
HSBC Financial Services Fund (Direct)
Nifty Capital Markets TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty Capital Markets Index Fund (Direct) | −12.8% | 26-05-2026 | 23-10-2026 | Not yet | -- | −9.3% |
| HSBC Financial Services Fund (Direct) | −11.7% | 26-08-2026 | 23-10-2026 | Not yet | -- | −10.6% |
| Nifty Capital Markets TRI | −12.7% | 26-05-2026 | 23-10-2026 | Not yet | -- | −9.2% |
From daily values since 25-05-2026, the first day every fund has.
Axis Nifty Capital Markets Index vs HSBC Financial Services: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty Capital Markets Index Fund, September 2026; HSBC Financial Services Fund, September 2026
Holdings in common
- Overlap
- 23.1%
- Held by both
- 9
- Only in Axis Nifty Capital Markets Index
- 8
- Only in HSBC Financial Services
- 28
| Security | % of Axis Nifty Capital Markets Index | % of HSBC Financial Services |
|---|---|---|
| Nippon Life India Asset Management Limited | 4.33% | 4.91% |
| Billionbrains Garage Ventures Ltd | 5.90% | 3.84% |
| ICICI Prudential Asset Management Company Limited | 4.11% | 3.42% |
| HDFC Asset Management Company Limited | 10.44% | 3.08% |
| Motilal Oswal Financial Services Limited | 3.54% | 2.46% |
| Multi Commodity Exchange of India Limited | 18.88% | 1.89% |
| KFin Technologies Limited | 2.52% | 1.89% |
| Angel One Limited | 4.01% | 1.20% |
| 360 One WAM Limited | 6.07% | 0.97% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.1% means 23.1% 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 Nifty Capital Markets Index Fund
| Security | % of fund |
|---|---|
| BSE Limited | 20.02% |
| Central Depository Services (India) Limited | 5.05% |
| Anand Rathi Wealth Limited | 4.35% |
| Computer Age Management Services Limited | 3.62% |
| Nuvama Wealth Management Limited | 2.99% |
Largest holdings only in HSBC Financial Services Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 9.31% |
| HDFC Bank Limited | 9.30% |
| Axis Bank Limited | 5.09% |
| Shriram Finance Limited | 4.81% |
| Kotak Mahindra Bank Limited | 4.60% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty Capital Markets Index | HSBC Financial Services |
|---|---|---|
| Equity | 100.2% | 95.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.2% | 4.3% |
Market cap of stocks
| Market cap | Axis Nifty Capital Markets Index | HSBC Financial Services |
|---|---|---|
| Large Cap | 40.5% | 51.5% |
| Mid Cap | 32.8% | 21.2% |
| Small Cap | 26.9% | 22.9% |
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 Nifty Capital Markets Index | HSBC Financial Services |
|---|---|---|
| Capital Markets | 100.2% | 27.9% |
| Banks | 0.0% | 41.9% |
| Finance | 0.0% | 18.5% |
| Financial Technology (Fintech) | 0.0% | 7.0% |
| Commercial Services & Supplies | 0.0% | 0.5% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty Capital Markets Index vs HSBC Financial Services: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty Capital Markets Index Fund | HSBC Financial Services Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.78% | 0.99% |
| Base expense ratio (Direct) | 0.20% | 0.74% |
| Total expense ratio (Regular) | 1.53% | 2.44% |
| Base expense ratio (Regular) | 0.90% | 1.97% |
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 HSBC Financial Services with
Axis Nifty Capital Markets Index Fund vs HSBC Financial Services Fund: Frequently Asked Questions
What is the difference between Axis Nifty Capital Markets Index Fund and HSBC Financial Services Fund?
Axis Nifty Capital Markets Index Fund is an Index fund, HSBC Financial Services Fund is a Thematic fund, run by Axis Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 23.1%. Axis Nifty Capital Markets Index Fund charges 0.78% a year and HSBC Financial Services Fund 0.99%.
Which has the lower expense ratio, Axis Nifty Capital Markets Index Fund or HSBC Financial Services Fund?
Axis Nifty Capital Markets Index Fund charges less: 0.78% a year against 0.99%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Nifty Capital Markets Index Fund and HSBC Financial Services Fund overlap?
23.1%. They hold 9 of the same securities, the largest shared ones being NAM-INDIA, GROWW, ICICIAMC. From each fund's latest monthly portfolio.
Which is riskier, Axis Nifty Capital Markets Index Fund or HSBC Financial Services Fund?
On SEBI's riskometer, Axis Nifty Capital Markets Index Fund is rated Very High and HSBC Financial Services Fund Very High. Over their common history, the standard deviation of daily returns was 19.59% and 16.88% a year.
Can I invest in both Axis Nifty Capital Markets Index Fund and HSBC Financial Services Fund?
Yes. 23.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Nifty Capital Markets Index Fund and HSBC Financial Services Fund?
Axis Nifty Capital Markets Index Fund: Nandik Malik, Rohit Gautam. HSBC Financial Services Fund: Gautam Bhupal, 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.