Bajaj Finserv Healthcare Fund vs HDFC Defence Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bajaj Finserv Healthcare Fund is a Thematic fund and HDFC Defence Fund is a Thematic fund. In the year to 30-10-2026, Bajaj Finserv Healthcare Fund (Direct) returned 19.0% and HDFC Defence Fund (Direct) returned 13.8%. Bajaj Finserv Healthcare Fund charges 0.90% a year and HDFC Defence Fund 0.90% (Direct plans). Their portfolios overlap 0.0%: they hold 0 of the same securities.
Bajaj Finserv Healthcare Fund
Thematic
- 1 year return
- 19.0%
- Expense ratio
- 0.90%
- NAV
- ₹11.88
Which is better, Bajaj Finserv Healthcare 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.
- Bajaj Finserv Healthcare returned more over 1 year: 19.0% against 13.8%.
- Bajaj Finserv Healthcare fell less in its worst fall since 30-12-2024: −15.7% against −25.3%.
- HDFC Defence holds more in large companies: 43.5% of the fund in large caps against 30.3%.
- HDFC Defence is the larger fund: ₹11,493 Cr against ₹405 Cr.
- Their portfolios overlap 0.0%: 0 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 | Bajaj Finserv Healthcare Fund | HDFC Defence Fund |
|---|---|---|
| Fund house | Bajaj Finserv Mutual Fund | HDFC Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹405 Cr (30-09-2026) | ₹11,493 Cr (30-09-2026) |
| NAV | ₹11.88 (Direct) | ₹28.86 (Direct) |
| Expense ratio (Direct) | 0.90% | 0.90% |
| Expense ratio (Regular) | 2.59% | 1.80% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Healthcare TRI | Nifty India Defence TRI |
| Launch date | 27-12-2024 | 02-06-2023 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | None | None |
| Fund managers | Bharat Hegde, Sorbh Gupta, Siddharth Chaudhary | Rahul Baijal, Priya Ranjan, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | 1% 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. |
Bajaj Finserv Healthcare 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 |
|---|---|---|---|---|---|---|---|
| Bajaj Finserv Healthcare Fund (Direct) | +0.73% | +1.91% | +18.19% | +19.00% | -- | -- | -- |
| 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.
Bajaj Finserv Healthcare vs HDFC Defence: Year-wise Returns
| Year | Bajaj Finserv HealthcareBajaj Finserv Healthcare | HDFC DefenceHDFC Defence |
|---|---|---|
| 2026to date | +21.23% | +19.90% |
| 2025 | −2.94% | +10.75% |
| 2024 | -- | +41.88% |
Bajaj Finserv Healthcare vs HDFC Defence: Rolling Returns
Every holding period of both funds, against BSE Healthcare TRI, the benchmark of Bajaj Finserv Healthcare Fund
Rolling returns
Every 1-year holding period, 205 of them, one for each trading day from 30-12-2025 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.
Bajaj Finserv Healthcare Fund (Direct)
HDFC Defence Fund (Direct)
BSE Healthcare TRI
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Oct 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bajaj Finserv Healthcare | 11.2 | 8.8 | 18.0 | 27.8 | 14.1 | 16.1 | 3.9 | 11.8% | 12.6% | −4.2% | 27.1% | 80% |
| HDFC Defence | 0.0 | 0.0 | 2.9 | 11.2 | 25.4 | 14.6 | 45.9 | 25.0% | 24.0% | 7.7% | 54.2% | 99% |
| BSE Healthcare TRI | 11.2 | 12.7 | 22.0 | 38.5 | 15.6 | 0.0 | 0.0 | 9.3% | 10.7% | −3.7% | 19.5% | -- |
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 Healthcare 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 30-12-2024. Past returns do not promise future returns.
Bajaj Finserv Healthcare 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 30-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bajaj Finserv HealthcareBajaj Finserv Healthcare Fund (Direct) | ₹2,30,000 | ₹2,74,498 | ₹44,498 | 19.0% |
| HDFC DefenceHDFC Defence Fund (Direct) | ₹2,30,000 | ₹2,73,677 | ₹43,677 | 18.6% |
Bajaj Finserv HealthcareBajaj Finserv Healthcare 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.
Bajaj Finserv Healthcare vs HDFC Defence: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bajaj Finserv Healthcare Fund (Direct) | HDFC Defence Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.00% | +13.79% |
| Standard deviation | 13.24% | 22.90% |
| Sharpe ratio | 1.04 | 0.37 |
| Sortino ratio | 1.53 | 0.52 |
| Maximum drawdown | −10.9% (23-10-2026) | −14.3% (31-03-2026) |
| Beta | 0.91 | 0.92 |
| Alpha | +7.28% | +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 | Bajaj Finserv Healthcare Fund (Direct) | HDFC Defence Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.39% | +36.39% |
| Standard deviation | 13.58% | 24.68% |
| Sharpe ratio | 0.28 | 1.23 |
| Sortino ratio | 0.39 | 1.69 |
| Maximum drawdown | −15.7% (28-02-2025) | −34.5% (28-02-2025) |
| Beta | 0.87 | 0.81 |
| Alpha | +3.02% | −1.99% |
From daily NAVs, 30-12-2024 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.
Bajaj Finserv Healthcare Fund (Direct)
HDFC Defence Fund (Direct)
BSE Healthcare TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bajaj Finserv Healthcare Fund (Direct) | −15.7% | 02-01-2025 | 28-02-2025 | 17-11-2025 | 9 months | −4.4% |
| HDFC Defence Fund (Direct) | −25.3% | 02-01-2025 | 28-02-2025 | 13-05-2025 | 2 months | −11.4% |
| BSE Healthcare TRI | −16.2% | 02-01-2025 | 28-02-2025 | 29-07-2025 | 5 months | −3.8% |
From daily values since 30-12-2024, 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.
Bajaj Finserv Healthcare Fund (Direct)
HDFC Defence Fund (Direct)
BSE Healthcare TRI
Against BSE Healthcare TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bajaj Finserv Healthcare Fund (Direct) | 110% | 100% | 4.97% |
| HDFC Defence Fund (Direct) | 147% | 95% | 27.03% |
From month-end values since 30-12-2024. 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.
Bajaj Finserv Healthcare vs HDFC Defence: Portfolio Overlap
From each fund's latest monthly portfolio: Bajaj Finserv Healthcare Fund, September 2026; HDFC Defence Fund, September 2026
Holdings in common
- Overlap
- 0.0%
- Held by both
- 0
- Only in Bajaj Finserv Healthcare
- 34
- Only in HDFC Defence
- 24
Overlap: for each holding both funds own, the smaller of its two weights, added up. 0.0% means 0.0% 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 Bajaj Finserv Healthcare Fund
| Security | % of fund |
|---|---|
| Divi's Laboratories Limited | 9.75% |
| Sun Pharmaceutical Industries Limited | 8.96% |
| Piramal Pharma Limited | 6.36% |
| Rubicon Research Limited | 6.08% |
| Aurobindo Pharma Limited | 6.03% |
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 | Bajaj Finserv Healthcare | HDFC Defence |
|---|---|---|
| Equity | 95.6% | 98.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.4% | 1.7% |
Market cap of stocks
| Market cap | Bajaj Finserv Healthcare | HDFC Defence |
|---|---|---|
| Large Cap | 30.3% | 43.5% |
| Mid Cap | 28.8% | 23.7% |
| Small Cap | 36.4% | 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 | Bajaj Finserv Healthcare | HDFC Defence |
|---|---|---|
| Pharmaceuticals & Biotechnology | 73.7% | 0.0% |
| Aerospace & Defense | 0.0% | 46.1% |
| Auto Components | 0.0% | 18.2% |
| Healthcare Services | 15.6% | 0.0% |
| Chemicals & Petrochemicals | 1.2% | 13.1% |
| Agricultural, Commercial & Construction Vehicles | 0.0% | 6.2% |
| Electrical Equipment | 0.0% | 5.1% |
| Automobiles | 0.0% | 4.7% |
| Food Products | 2.2% | 0.0% |
| Consumer Durables | 1.9% | 0.0% |
| Insurance | 0.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Bajaj Finserv Healthcare vs HDFC Defence: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bajaj Finserv Healthcare Fund | HDFC Defence Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.90% | 0.90% |
| Base expense ratio (Direct) | 0.66% | 0.72% |
| Total expense ratio (Regular) | 2.59% | 1.80% |
| Base expense ratio (Regular) | 2.09% | 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 Bajaj Finserv Healthcare with
Bajaj Finserv Healthcare Fund vs HDFC Defence Fund: Frequently Asked Questions
What is the difference between Bajaj Finserv Healthcare Fund and HDFC Defence Fund?
Bajaj Finserv Healthcare Fund is a Thematic fund, HDFC Defence Fund is a Thematic fund, run by Bajaj Finserv Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 0.0%. Bajaj Finserv Healthcare Fund charges 0.90% a year and HDFC Defence Fund 0.90%.
Which has given higher returns, Bajaj Finserv Healthcare Fund or HDFC Defence Fund?
Over 1 year: Bajaj Finserv Healthcare Fund +19.00%, HDFC Defence Fund +13.79%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bajaj Finserv Healthcare Fund or HDFC Defence Fund?
Both charge 0.90% a year.
How much do Bajaj Finserv Healthcare Fund and HDFC Defence Fund overlap?
0.0%. They hold 0 of the same securities. From each fund's latest monthly portfolio.
Which is riskier, Bajaj Finserv Healthcare Fund or HDFC Defence Fund?
On SEBI's riskometer, Bajaj Finserv Healthcare Fund is rated Very High and HDFC Defence Fund Very High. Over 1 years, the standard deviation of daily returns was 13.24% and 22.90% a year.
Can I invest in both Bajaj Finserv Healthcare Fund and HDFC Defence Fund?
Yes. 0.0% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Bajaj Finserv Healthcare Fund and HDFC Defence Fund?
Bajaj Finserv Healthcare Fund: Bharat Hegde, Sorbh Gupta, Siddharth Chaudhary. 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.