Axis Quant Fund vs HDFC Defence Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Quant Fund is a Thematic fund and HDFC Defence Fund is a Thematic fund. In the 3 years to 30-10-2026, Axis Quant Fund (Direct) returned 7.2% a year and HDFC Defence Fund (Direct) returned 34.8% a year. Axis Quant Fund charges 2.72% a year and HDFC Defence Fund 0.90% (Direct plans). Their portfolios overlap 4.1%: they hold 1 of the same security.
Which is better, Axis Quant or HDFC Defence? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Defence returned more over 3 years: 34.8% a year against 7.2%.
- HDFC Defence returned more over 1 year: 13.8% against −6.6%.
- HDFC Defence costs less: 0.90% a year against 2.72% (Direct plans).
- Axis Quant swung less over 3 years: a standard deviation of 14.5% a year against 25.6%.
- Axis Quant fell less in its worst fall since 02-06-2023: −23.0% against −34.5%.
- Axis Quant holds more in large companies: 76.0% of the fund in large caps against 43.5%.
- HDFC Defence is the larger fund: ₹11,493 Cr against ₹768 Cr.
- Their portfolios overlap 4.1%: 1 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 Quant Fund | HDFC Defence Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | HDFC Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹768 Cr (30-09-2026) | ₹11,493 Cr (30-09-2026) |
| NAV | ₹15.87 (Direct) | ₹28.86 (Direct) |
| Expense ratio (Direct) | 2.72% | 0.90% |
| Expense ratio (Regular) | 4.11% | 1.80% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 200 TRI | Nifty India Defence TRI |
| Launch date | 01-07-2021 | 02-06-2023 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Krishnaa N | Rahul Baijal, Priya Ranjan, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 3 months. | In respect of each purchase/switch-in of units, an Exit load of 1% is payable if units are redeemed/switched-out within 1 yearfrom the date of allotment. No Exit Load is payable if units are redeemed / switched-out after 1 year 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. |
Axis Quant vs HDFC Defence: 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 Quant Fund (Direct) | −3.17% | −10.03% | −3.82% | −6.59% | +7.21% | +7.35% | -- |
| HDFC Defence Fund (Direct) | −6.07% | −3.22% | +4.84% | +13.79% | +34.76% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Axis Quant vs HDFC Defence: Year-wise Returns
| Year | Axis QuantAxis Quant | HDFC DefenceHDFC Defence |
|---|---|---|
| 2026to date | −9.37% | +19.90% |
| 2025 | +2.46% | +10.75% |
| 2024 | +15.32% | +41.88% |
| 2023 | +32.80% | -- |
| 2022 | −1.06% | -- |
Axis Quant vs HDFC Defence: Rolling Returns
Every holding period of both funds, against BSE 200 TRI, the benchmark of Axis Quant Fund
Rolling returns
Every 3-year holding period, 103 of them, one for each trading day from 02-06-2026 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 Quant Fund (Direct)
HDFC Defence Fund (Direct)
BSE 200 TRI
to
Jun 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 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 Quant | 0.0 | 0.0 | 34.0 | 66.0 | 0.0 | 0.0 | 0.0 | 10.0% | 10.6% | 6.5% | 12.1% | 0% |
| HDFC Defence | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 | 39.8% | 40.7% | 33.3% | 45.2% | 100% |
| BSE 200 TRI | 0.0 | 0.0 | 33.0 | 67.0 | 0.0 | 0.0 | 0.0 | 10.9% | 11.5% | 7.9% | 13.0% | -- |
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 BSE 200 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 02-06-2023. Past returns do not promise future returns.
Axis Quant vs HDFC Defence: 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 01-06-2023 to 30-10-2026: 41 instalments, ₹4,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis QuantAxis Quant Fund (Direct) | ₹4,10,000 | ₹4,10,112 | ₹112 | 0.0% |
| HDFC DefenceHDFC Defence Fund (Direct) | ₹4,10,000 | ₹6,13,432 | ₹2,03,432 | 24.3% |
Axis QuantAxis Quant Fund (Direct)
HDFC DefenceHDFC Defence 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 Quant vs HDFC Defence: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Quant Fund (Direct) | HDFC Defence Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.59% | +13.79% |
| Standard deviation | 15.73% | 22.90% |
| Sharpe ratio | -0.75 | 0.37 |
| Sortino ratio | -1.03 | 0.52 |
| Maximum drawdown | −14.9% (30-03-2026) | −14.3% (31-03-2026) |
| Beta | 1.06 | 0.92 |
| Alpha | +2.50% | +5.40% |
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 Quant Fund (Direct) | HDFC Defence Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.21% | +34.76% |
| Standard deviation | 14.51% | 25.64% |
| Sharpe ratio | 0.08 | 1.12 |
| Sortino ratio | 0.11 | 1.54 |
| Maximum drawdown | −23.0% (04-03-2025) | −34.5% (28-02-2025) |
| Beta | 0.98 | 0.83 |
| Alpha | −2.36% | −0.18% |
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 Quant Fund (Direct) | HDFC Defence Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.88% | +36.39% |
| Standard deviation | 14.06% | 24.68% |
| Sharpe ratio | 0.23 | 1.23 |
| Sortino ratio | 0.31 | 1.69 |
| Maximum drawdown | −23.0% (04-03-2025) | −34.5% (28-02-2025) |
| Beta | 0.95 | 0.81 |
| Alpha | −0.81% | −1.99% |
From daily NAVs, 07-07-2021 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 Quant Fund (Direct)
HDFC Defence Fund (Direct)
BSE 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Quant Fund (Direct) | −23.0% | 27-09-2024 | 04-03-2025 | Not yet | -- | −15.6% |
| HDFC Defence Fund (Direct) | −34.5% | 08-07-2024 | 28-02-2025 | 27-05-2025 | 3 months | −11.4% |
| BSE 200 TRI | −17.7% | 26-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −9.9% |
From daily values since 02-06-2023, 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 Quant Fund (Direct)
HDFC Defence Fund (Direct)
BSE 200 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 Quant Fund (Direct)
HDFC Defence Fund (Direct)
BSE 200 TRI
Against BSE 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Quant Fund (Direct) | 97% | 108% | 5.10% |
| HDFC Defence Fund (Direct) | 200% | 86% | 21.90% |
From month-end values since 02-06-2023. 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 Quant vs HDFC Defence: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Quant Fund, September 2026; HDFC Defence Fund, September 2026
Holdings in common
- Overlap
- 4.1%
- Held by both
- 1
- Only in Axis Quant
- 27
- Only in HDFC Defence
- 23
| Security | % of Axis Quant | % of HDFC Defence |
|---|---|---|
| Eicher Motors Limited | 4.12% | 4.67% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 4.1% means 4.1% 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 Quant Fund
| Security | % of fund |
|---|---|
| Adani Enterprises Limited | 5.04% |
| Lodha Developers Limited | 4.40% |
| DLF Limited | 4.06% |
| The Indian Hotels Company Limited | 3.79% |
| Bajaj Holdings & Investment Limited | 3.79% |
Largest holdings only in HDFC Defence Fund
| Security | % of fund |
|---|---|
| Bharat Electronics Ltd. | 14.87% |
| Bharat Forge Ltd. | 12.91% |
| Hindustan Aeronautics Limited | 12.61% |
| Solar Industries India Ltd. | 10.28% |
| Astra Microwave Products Ltd. | 6.44% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Quant | HDFC Defence |
|---|---|---|
| Equity | 87.4% | 98.3% |
| Debt | 9.1% | 0.0% |
| Cash and others | 3.5% | 1.7% |
Market cap of stocks
| Market cap | Axis Quant | HDFC Defence |
|---|---|---|
| Large Cap | 76.0% | 43.5% |
| Mid Cap | 11.4% | 23.7% |
| Small Cap | 0.0% | 30.7% |
| Not on AMFI's list | 0.0% | 0.4% |
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 Quant | HDFC Defence |
|---|---|---|
| Aerospace & Defense | 0.0% | 46.1% |
| Finance | 20.2% | 0.0% |
| Auto Components | 0.0% | 18.2% |
| Chemicals & Petrochemicals | 0.0% | 13.1% |
| Petroleum Products | 10.5% | 0.0% |
| Automobiles | 10.3% | 4.7% |
| IT - Software | 9.4% | 0.0% |
| Realty | 8.5% | 0.0% |
| Banks | 6.4% | 0.0% |
| Agricultural, Commercial & Construction Vehicles | 0.0% | 6.2% |
| Electrical Equipment | 0.0% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Quant vs HDFC Defence: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Quant Fund | HDFC Defence Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.72% | 0.90% |
| Base expense ratio (Direct) | 0.84% | 0.72% |
| Total expense ratio (Regular) | 4.11% | 1.80% |
| Base expense ratio (Regular) | 2.03% | 1.49% |
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 Quant with
Axis Quant Fund vs HDFC Defence Fund: Frequently Asked Questions
What is the difference between Axis Quant Fund and HDFC Defence Fund?
Axis Quant Fund is a Thematic fund, HDFC Defence Fund is a Thematic fund, run by Axis Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 4.1%. Axis Quant Fund charges 2.72% a year and HDFC Defence Fund 0.90%.
Which has given higher returns, Axis Quant Fund or HDFC Defence Fund?
Over 1 year: Axis Quant Fund −6.59%, HDFC Defence Fund +13.79%. Over 3 years: Axis Quant Fund +7.21% a year, HDFC Defence Fund +34.76% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Quant Fund or HDFC Defence Fund?
HDFC Defence Fund charges less: 0.90% a year against 2.72%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Quant Fund and HDFC Defence Fund overlap?
4.1%. They hold 1 of the same securities, the largest shared ones being EICHERMOT. From each fund's latest monthly portfolio.
Which is riskier, Axis Quant Fund or HDFC Defence Fund?
On SEBI's riskometer, Axis Quant Fund is rated Very High and HDFC Defence Fund Very High. Over 3 years, the standard deviation of daily returns was 14.51% and 25.64% a year.
Which is better for SIP, Axis Quant Fund or HDFC Defence Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,59,930 in Axis Quant Fund (XIRR -1.7% a year) and ₹5,06,556 in HDFC Defence Fund (XIRR 20.9% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Quant Fund and HDFC Defence Fund?
Yes. 4.1% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Axis Quant Fund and HDFC Defence Fund?
Axis Quant Fund: Nandik Malik, Krishnaa N. HDFC Defence Fund: Rahul Baijal, Priya Ranjan, 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.