Bandhan Financial Services Fund vs HDFC Banking & Financial Services Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Financial Services Fund is a Sectoral fund and HDFC Banking & Financial Services Fund is a Thematic fund. In the 3 years to 30-10-2026, Bandhan Financial Services Fund (Direct) returned 12.7% a year and HDFC Banking & Financial Services Fund (Direct) returned 11.0% a year. Bandhan Financial Services Fund charges 1.04% a year and HDFC Banking & Financial Services Fund 0.96% (Direct plans). Their portfolios overlap 60.7%: they hold 26 of the same securities.
Bandhan Financial Services Fund
Sectoral
- 3 year return
- 12.7%
- Expense ratio
- 1.04%
- NAV
- ₹14.56
HDFC Banking & Financial Services Fund
Thematic
- 3 year return
- 11.0%
- Expense ratio
- 0.96%
- NAV
- ₹17.86
Which is better, Bandhan Financial Services or HDFC Banking & 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.
- Bandhan Financial Services returned more over 3 years: 12.7% a year against 11.0%.
- HDFC Banking & Financial Services returned more over 1 year: −5.1% against −7.5%.
- HDFC Banking & Financial Services costs less: 0.96% a year against 1.04% (Direct plans).
- Bandhan Financial Services swung less over 3 years: a standard deviation of 15.5% a year against 15.8%.
- HDFC Banking & Financial Services fell less in its worst fall since 31-07-2023: −17.1% against −17.3%.
- HDFC Banking & Financial Services holds more in large companies: 68.8% of the fund in large caps against 57.4%.
- HDFC Banking & Financial Services is the larger fund: ₹4,425 Cr against ₹1,122 Cr.
- Their portfolios overlap 60.7%: 26 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 | Bandhan Financial Services Fund | HDFC Banking & Financial Services Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | HDFC Mutual Fund |
| Category | Sectoral | Thematic |
| AUM | ₹1,122 Cr (31-08-2026) | ₹4,425 Cr (30-09-2026) |
| NAV | ₹14.56 (Direct) | ₹17.86 (Direct) |
| Expense ratio (Direct) | 1.04% | 0.96% |
| Expense ratio (Regular) | 2.50% | 1.99% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Financial Services TRI | Nifty Financial Services TRI |
| Launch date | 28-07-2023 | 01-07-2021 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Ritu Modi, Harshvardhan Agrawal, Harshal Joshi, Ritika Behera, Gaurav Satra | Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Exit load of 0.5%, if redeemed within 30 days. | In respect of each purchase/switch in of units- an Exit load of 1% is payable if units are redeemed/switched out within 30 days from the date of allotment. No Exit Load is payable if units are redeemed/switched-out after 30 days from the date of allotment. |
Bandhan Financial Services vs HDFC Banking & 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Financial Services Fund (Direct) | −2.92% | −7.06% | −2.09% | −7.55% | +12.68% | -- | -- |
| HDFC Banking & Financial Services Fund (Direct) | −2.25% | −7.01% | −3.14% | −5.10% | +11.03% | +10.01% | -- |
| Sectoral average | −1.70% | −4.49% | +2.30% | −0.58% | +15.61% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 20 Sectoral funds and the 235 Thematic funds, same plan type.
Bandhan Financial Services vs HDFC Banking & Financial Services: Year-wise Returns
| Year | BandhanBandhan Financial Services | HDFC Banking &HDFC Banking & Financial Services | Nifty Financial Services TRI |
|---|---|---|---|
| 2026to date | −9.00% | −7.43% | −9.69% |
| 2025 | +13.50% | +18.13% | +18.60% |
| 2024 | +20.58% | +11.28% | +10.52% |
| 2023 | -- | +23.24% | +14.31% |
| 2022 | -- | +16.99% | +10.47% |
Bandhan Financial Services vs HDFC Banking & Financial Services: Rolling Returns
Every holding period of both funds, against Nifty Financial Services TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 61 of them, one for each trading day from 31-07-2026 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.
Bandhan Financial Services Fund (Direct)
HDFC Banking & Financial Services Fund (Direct)
Nifty Financial Services TRI
to
Aug 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Financial Services | 0.0 | 0.0 | 0.0 | 45.9 | 54.1 | 0.0 | 0.0 | 15.4% | 15.4% | 12.4% | 17.9% | 100% |
| HDFC Banking & Financial Services | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 12.6% | 12.3% | 10.8% | 14.9% | 100% |
| Nifty Financial Services TRI | 0.0 | 0.0 | 54.1 | 45.9 | 0.0 | 0.0 | 0.0 | 10.0% | 9.9% | 7.9% | 11.9% | -- |
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 Nifty Financial Services 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 31-07-2023. Past returns do not promise future returns.
Bandhan Financial Services vs HDFC Banking & Financial Services: 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 31-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Financial ServicesBandhan Financial Services Fund (Direct) | ₹4,00,000 | ₹4,34,079 | ₹34,079 | 4.9% |
| HDFC Banking & Financial ServicesHDFC Banking & Financial Services Fund (Direct) | ₹4,00,000 | ₹4,36,217 | ₹36,217 | 5.2% |
Bandhan Financial ServicesBandhan Financial Services Fund (Direct)
HDFC Banking & Financial ServicesHDFC Banking & Financial Services 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.
Bandhan Financial Services vs HDFC Banking & Financial Services: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Financial Services Fund (Direct) | HDFC Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.55% | −5.10% |
| Standard deviation | 17.13% | 17.32% |
| Sharpe ratio | -0.75 | -0.60 |
| Sortino ratio | -1.03 | -0.83 |
| Maximum drawdown | −17.3% (30-03-2026) | −17.1% (30-03-2026) |
| Beta | 0.94 | 0.96 |
| Alpha | +0.54% | +3.27% |
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 | Bandhan Financial Services Fund (Direct) | HDFC Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.68% | +11.03% |
| Standard deviation | 15.53% | 15.81% |
| Sharpe ratio | 0.43 | 0.32 |
| Sortino ratio | 0.60 | 0.44 |
| Maximum drawdown | −17.3% (30-03-2026) | −17.1% (30-03-2026) |
| Beta | 0.89 | 0.94 |
| Alpha | +3.33% | +1.48% |
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 | Bandhan Financial Services Fund (Direct) | HDFC Banking & Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.20% | +11.68% |
| Standard deviation | 15.30% | 15.98% |
| Sharpe ratio | 0.40 | 0.38 |
| Sortino ratio | 0.56 | 0.52 |
| Maximum drawdown | −17.3% (30-03-2026) | −21.7% (16-06-2022) |
| Beta | 0.89 | 0.93 |
| Alpha | +5.13% | +2.88% |
From daily NAVs, 31-07-2023 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.
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.
Bandhan Financial Services Fund (Direct)
HDFC Banking & Financial Services Fund (Direct)
Nifty Financial Services TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Financial Services Fund (Direct) | −17.3% | 06-01-2026 | 30-03-2026 | Not yet | -- | −10.1% |
| HDFC Banking & Financial Services Fund (Direct) | −17.1% | 18-02-2026 | 30-03-2026 | Not yet | -- | −10.1% |
| Nifty Financial Services TRI | −17.3% | 18-02-2026 | 30-03-2026 | Not yet | -- | −12.4% |
From daily values since 31-07-2023, 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.
Bandhan Financial Services Fund (Direct)
HDFC Banking & Financial Services Fund (Direct)
Nifty Financial Services 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.
Bandhan Financial Services Fund (Direct)
HDFC Banking & Financial Services Fund (Direct)
Nifty Financial Services TRI
Against Nifty Financial Services TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Financial Services Fund (Direct) | 104% | 76% | 7.83% |
| HDFC Banking & Financial Services Fund (Direct) | 103% | 89% | 5.30% |
From month-end values since 31-07-2023. 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.
Bandhan Financial Services vs HDFC Banking & Financial Services: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Financial Services Fund, August 2026; HDFC Banking & Financial Services Fund, September 2026
Holdings in common
- Overlap
- 60.7%
- Held by both
- 26
- Only in Bandhan Financial Services
- 31
- Only in HDFC Banking & Financial Services
- 11
| Security | % of Bandhan Financial Services | % of HDFC Banking & Financial Services |
|---|---|---|
| ICICI Bank Limited | 14.72% | 13.85% |
| HDFC Bank Limited | 10.23% | 12.89% |
| Kotak Mahindra Bank Limited | 5.59% | 8.61% |
| Axis Bank Limited | 4.72% | 7.76% |
| Bajaj Finance Limited | 4.33% | 3.96% |
| State Bank of India | 3.91% | 6.07% |
| Shriram Finance Limited | 2.23% | 4.22% |
| Max Financial Services Limited | 2.24% | 1.40% |
| Poonawalla Fincorp Limited | 1.28% | 1.35% |
| Angel One Limited | 1.19% | 1.67% |
| ICICI Lombard General Insurance Company Limited | 1.19% | 1.89% |
| Mahindra & Mahindra Financial Services Limited | 1.91% | 1.17% |
| Can Fin Homes Limited | 1.11% | 1.40% |
| Fusion Finance Limited | 1.06% | 1.12% |
| Life Insurance Corporation Of India | 0.93% | 1.61% |
| IndusInd Bank Limited | 0.85% | 1.02% |
| ICICI Prudential Asset Management Company Limited | 0.84% | 1.16% |
| Onemi Technology Solutions Limited | 0.78% | 1.01% |
| PB Fintech Limited | 0.76% | 0.76% |
| BSE Limited | 0.90% | 0.70% |
| Billionbrains Garage Ventures Ltd | 0.69% | 1.66% |
| HDFC Life Insurance Company Limited | 1.27% | 0.59% |
| 360 One WAM Limited | 0.55% | 1.07% |
| SBI Life Insurance Company Limited | 0.53% | 3.72% |
| Five Star Business Finance Limited | 0.39% | 2.67% |
| Karur Vysya Bank Limited | 0.15% | 1.91% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 60.7% means 60.7% 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 Bandhan Financial Services Fund
| Security | % of fund |
|---|---|
| Cholamandalam Investment and Finance Company Ltd | 3.15% |
| One 97 Communications Limited | 2.39% |
| Multi Commodity Exchange of India Limited | 1.83% |
| LIC Housing Finance Limited | 1.82% |
| City Union Bank Limited | 1.81% |
Largest holdings only in HDFC Banking & Financial Services Fund
| Security | % of fund |
|---|---|
| Au Small Finance Bank Ltd. | 2.40% |
| Home First Finance Company India Ltd | 1.71% |
| Equitas Small Finance Bank Ltd | 1.63% |
| PNB Housing Finance Ltd. | 1.61% |
| Bandhan Bank Ltd. | 1.37% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Financial Services | HDFC Banking & Financial Services |
|---|---|---|
| Equity | 98.3% | 99.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.7% | 0.6% |
Market cap of stocks
| Market cap | Bandhan Financial Services | HDFC Banking & Financial Services |
|---|---|---|
| Large Cap | 57.4% | 68.8% |
| Mid Cap | 19.0% | 11.1% |
| Small Cap | 21.9% | 17.4% |
| Not on AMFI's list | 0.0% | 2.1% |
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 | Bandhan Financial Services | HDFC Banking & Financial Services |
|---|---|---|
| Banks | 50.4% | 58.3% |
| Finance | 25.5% | 22.8% |
| Capital Markets | 10.7% | 8.4% |
| Insurance | 7.8% | 9.2% |
| Financial Technology (Fintech) | 4.0% | 0.8% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Financial Services vs HDFC Banking & Financial Services: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Financial Services Fund | HDFC Banking & Financial Services Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 0.96% |
| Base expense ratio (Direct) | 0.66% | 0.74% |
| Total expense ratio (Regular) | 2.50% | 1.99% |
| Base expense ratio (Regular) | 1.92% | 1.62% |
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
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Bandhan Financial Services Fund vs HDFC Banking & Financial Services Fund: Frequently Asked Questions
What is the difference between Bandhan Financial Services Fund and HDFC Banking & Financial Services Fund?
Bandhan Financial Services Fund is a Sectoral fund, HDFC Banking & Financial Services Fund is a Thematic fund, run by Bandhan Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 60.7%. Bandhan Financial Services Fund charges 1.04% a year and HDFC Banking & Financial Services Fund 0.96%.
Which has given higher returns, Bandhan Financial Services Fund or HDFC Banking & Financial Services Fund?
Over 1 year: Bandhan Financial Services Fund −7.55%, HDFC Banking & Financial Services Fund −5.10%. Over 3 years: Bandhan Financial Services Fund +12.68% a year, HDFC Banking & Financial Services Fund +11.03% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Financial Services Fund or HDFC Banking & Financial Services Fund?
HDFC Banking & Financial Services Fund charges less: 0.96% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Financial Services Fund and HDFC Banking & Financial Services Fund overlap?
60.7%. They hold 26 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Financial Services Fund or HDFC Banking & Financial Services Fund?
On SEBI's riskometer, Bandhan Financial Services Fund is rated Very High and HDFC Banking & Financial Services Fund Very High. Over 3 years, the standard deviation of daily returns was 15.53% and 15.81% a year.
Which is better for SIP, Bandhan Financial Services Fund or HDFC Banking & Financial Services Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,90,431 in Bandhan Financial Services Fund (XIRR 3.4% a year) and ₹3,95,583 in HDFC Banking & Financial Services Fund (XIRR 4.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Financial Services Fund and HDFC Banking & Financial Services Fund?
Yes. 60.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Financial Services Fund and HDFC Banking & Financial Services Fund?
Bandhan Financial Services Fund: Ritu Modi, Harshvardhan Agrawal, Harshal Joshi, Ritika Behera, Gaurav Satra. HDFC Banking & Financial Services Fund: Anand Laddha, 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.