Bandhan Innovation Fund vs HDFC Pharma and Healthcare Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Innovation Fund is a Thematic fund and HDFC Pharma and Healthcare Fund is a Thematic fund. In the year to 30-10-2026, Bandhan Innovation Fund (Direct) returned 9.9% and HDFC Pharma and Healthcare Fund (Direct) returned 23.1%. Bandhan Innovation Fund charges 0.90% a year and HDFC Pharma and Healthcare Fund 1.05% (Direct plans). Their portfolios overlap 6.4%: they hold 7 of the same securities.
Bandhan Innovation Fund
Thematic
- 1 year return
- 9.9%
- Expense ratio
- 0.90%
- NAV
- ₹15.39
HDFC Pharma and Healthcare Fund
Thematic
- 1 year return
- 23.1%
- Expense ratio
- 1.05%
- NAV
- ₹21.95
Which is better, Bandhan Innovation or HDFC Pharma and Healthcare? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Pharma and Healthcare returned more over 1 year: 23.1% against 9.9%.
- Bandhan Innovation costs less: 0.90% a year against 1.05% (Direct plans).
- HDFC Pharma and Healthcare fell less in its worst fall since 02-05-2024: −14.9% against −19.7%.
- HDFC Pharma and Healthcare is the larger fund: ₹3,501 Cr against ₹2,957 Cr.
- Their portfolios overlap 6.4%: 7 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 Innovation Fund | HDFC Pharma and Healthcare Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | HDFC Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹2,957 Cr (31-08-2026) | ₹3,501 Cr (30-09-2026) |
| NAV | ₹15.39 (Direct) | ₹21.95 (Direct) |
| Expense ratio (Direct) | 0.90% | 1.05% |
| Expense ratio (Regular) | 2.26% | 2.13% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE Healthcare TRI |
| Launch date | 30-04-2024 | 04-10-2023 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Manish Gunwani, Brijesh Shah, Prateek Poddar | Nikhil Mathur, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Exit load of 0.50%, 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 Innovation vs HDFC Pharma and Healthcare: 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 Innovation Fund (Direct) | −2.35% | +0.59% | +12.58% | +9.94% | -- | -- | -- |
| HDFC Pharma and Healthcare Fund (Direct) | +0.04% | +0.83% | +16.68% | +23.12% | +30.53% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Bandhan Innovation vs HDFC Pharma and Healthcare: Year-wise Returns
| Year | Bandhan InnovationBandhan Innovation | HDFC Pharma and HealthcareHDFC Pharma and Healthcare |
|---|---|---|
| 2026to date | +12.81% | +23.99% |
| 2025 | +4.81% | +2.42% |
| 2024 | -- | +52.22% |
Bandhan Innovation vs HDFC Pharma and Healthcare: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Bandhan Innovation Fund
Rolling returns
Every 1-year holding period, 376 of them, one for each trading day from 02-05-2025 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.
Bandhan Innovation Fund (Direct)
HDFC Pharma and Healthcare Fund (Direct)
Nifty 500 TRI
to
Jun 2025Sept 2024
to
Sept 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 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 Innovation | 0.0 | 7.7 | 21.5 | 27.1 | 26.9 | 15.4 | 1.3 | 13.7% | 13.9% | 1.3% | 30.2% | 94% |
| HDFC Pharma and Healthcare | 0.0 | 5.9 | 21.6 | 12.7 | 13.5 | 19.5 | 26.8 | 17.6% | 18.8% | 1.7% | 33.9% | 89% |
| Nifty 500 TRI | 27.9 | 32.2 | 30.9 | 7.2 | 1.9 | 0.0 | 0.0 | 3.4% | 3.1% | −9.0% | 17.6% | -- |
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 500 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 02-05-2024. Past returns do not promise future returns.
Bandhan Innovation vs HDFC Pharma and Healthcare: 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 02-05-2024 to 30-10-2026: 30 instalments, ₹3,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan InnovationBandhan Innovation Fund (Direct) | ₹3,00,000 | ₹3,61,895 | ₹61,895 | 15.2% |
| HDFC Pharma and HealthcareHDFC Pharma and Healthcare Fund (Direct) | ₹3,00,000 | ₹3,88,884 | ₹88,884 | 21.4% |
Bandhan InnovationBandhan Innovation Fund (Direct)
HDFC Pharma and HealthcareHDFC Pharma and Healthcare 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 Innovation vs HDFC Pharma and Healthcare: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Innovation Fund (Direct) | HDFC Pharma and Healthcare Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.94% | +23.12% |
| Standard deviation | 16.51% | 13.67% |
| Sharpe ratio | 0.28 | 1.31 |
| Sortino ratio | 0.39 | 1.93 |
| Maximum drawdown | −14.3% (30-03-2026) | −9.8% (23-10-2026) |
| Beta | 1.07 | 0.95 |
| Alpha | +18.10% | +11.09% |
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 Innovation Fund (Direct) | HDFC Pharma and Healthcare Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.56% | +29.32% |
| Standard deviation | 16.99% | 13.98% |
| Sharpe ratio | 0.75 | 1.66 |
| Sortino ratio | 1.02 | 2.38 |
| Maximum drawdown | −19.7% (28-02-2025) | −14.9% (28-02-2025) |
| Beta | 1.06 | 0.95 |
| Alpha | +16.17% | +8.51% |
From daily NAVs, 02-05-2024 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.
Bandhan Innovation Fund (Direct)
HDFC Pharma and Healthcare Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Innovation Fund (Direct) | −19.7% | 02-01-2025 | 28-02-2025 | 22-07-2025 | 5 months | −5.9% |
| HDFC Pharma and Healthcare Fund (Direct) | −14.9% | 02-01-2025 | 28-02-2025 | 04-07-2025 | 4 months | −4.1% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 02-05-2024, 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.
Bandhan Innovation Fund (Direct)
HDFC Pharma and Healthcare Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Innovation Fund (Direct) | 157% | 85% | 8.59% |
| HDFC Pharma and Healthcare Fund (Direct) | 139% | 35% | 12.91% |
From month-end values since 02-05-2024. 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.
Bandhan Innovation vs HDFC Pharma and Healthcare: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Innovation Fund, August 2026; HDFC Pharma and Healthcare Fund, September 2026
Holdings in common
- Overlap
- 6.4%
- Held by both
- 7
- Only in Bandhan Innovation
- 76
- Only in HDFC Pharma and Healthcare
- 31
| Security | % of Bandhan Innovation | % of HDFC Pharma and Healthcare |
|---|---|---|
| Divi's Laboratories Limited | 1.79% | 9.39% |
| Glenmark Pharmaceuticals Limited | 1.03% | 2.09% |
| Torrent Pharmaceuticals Limited | 0.90% | 3.65% |
| Biocon Limited | 0.79% | 1.47% |
| Jubilant Pharmova Limited | 0.79% | 0.93% |
| Sai Life Sciences Limited | 0.78% | 1.58% |
| Cohance Lifesciences Limited | 0.55% | 0.32% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 6.4% means 6.4% 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 Innovation Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 6.43% |
| One 97 Communications Limited | 5.02% |
| Bajaj Finserv Limited | 3.72% |
| ICICI Bank Limited | 3.16% |
| Meesho Ltd | 2.80% |
Largest holdings only in HDFC Pharma and Healthcare Fund
| Security | % of fund |
|---|---|
| Sun Pharmaceutical Industries Ltd. | 8.28% |
| Alkem Laboratories Ltd. | 4.64% |
| Cipla Ltd. | 4.15% |
| Apollo Hospitals Enterprise Ltd. | 3.69% |
| Max Healthcare Institute Limited | 3.61% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Innovation | HDFC Pharma and Healthcare |
|---|---|---|
| Equity | 99.0% | 96.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 3.2% |
Market cap of stocks
| Market cap | Bandhan Innovation | HDFC Pharma and Healthcare |
|---|---|---|
| Large Cap | 34.6% | 29.2% |
| Mid Cap | 23.6% | 30.1% |
| Small Cap | 37.4% | 32.5% |
| Not on AMFI's list | 3.4% | 5.0% |
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 Innovation | HDFC Pharma and Healthcare |
|---|---|---|
| Pharmaceuticals & Biotechnology | 9.3% | 71.3% |
| Healthcare Services | 3.7% | 22.1% |
| Retailing | 12.2% | 1.0% |
| Finance | 6.8% | 0.0% |
| Financial Technology (Fintech) | 5.0% | 0.0% |
| Consumer Durables | 4.9% | 0.0% |
| Automobiles | 4.9% | 0.0% |
| Healthcare Equipment & Supplies | 0.0% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Innovation vs HDFC Pharma and Healthcare: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Innovation Fund | HDFC Pharma and Healthcare Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.90% | 1.05% |
| Base expense ratio (Direct) | 0.49% | 0.71% |
| Total expense ratio (Regular) | 2.26% | 2.13% |
| Base expense ratio (Regular) | 1.67% | 1.65% |
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 Bandhan Innovation with
Bandhan Innovation Fund vs HDFC Pharma and Healthcare Fund: Frequently Asked Questions
What is the difference between Bandhan Innovation Fund and HDFC Pharma and Healthcare Fund?
Bandhan Innovation Fund is a Thematic fund, HDFC Pharma and Healthcare Fund is a Thematic fund, run by Bandhan Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 6.4%. Bandhan Innovation Fund charges 0.90% a year and HDFC Pharma and Healthcare Fund 1.05%.
Which has given higher returns, Bandhan Innovation Fund or HDFC Pharma and Healthcare Fund?
Over 1 year: Bandhan Innovation Fund +9.94%, HDFC Pharma and Healthcare Fund +23.12%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Innovation Fund or HDFC Pharma and Healthcare Fund?
Bandhan Innovation Fund charges less: 0.90% a year against 1.05%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Innovation Fund and HDFC Pharma and Healthcare Fund overlap?
6.4%. They hold 7 of the same securities, the largest shared ones being DIVISLAB, GLENMARK, TORNTPHARM. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Innovation Fund or HDFC Pharma and Healthcare Fund?
On SEBI's riskometer, Bandhan Innovation Fund is rated Very High and HDFC Pharma and Healthcare Fund Very High. Over 1 years, the standard deviation of daily returns was 16.51% and 13.67% a year.
Can I invest in both Bandhan Innovation Fund and HDFC Pharma and Healthcare Fund?
Yes. 6.4% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Bandhan Innovation Fund and HDFC Pharma and Healthcare Fund?
Bandhan Innovation Fund: Manish Gunwani, Brijesh Shah, Prateek Poddar. HDFC Pharma and Healthcare Fund: Nikhil Mathur, 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.