Bank of India Overnight Fund vs HSBC Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bank of India Overnight Fund and HSBC Overnight Fund are both Overnight funds. In the 3 years to 30-10-2026, Bank of India Overnight Fund (Direct) returned 6.2% a year and HSBC Overnight Fund (Direct) returned 6.0% a year. Bank of India Overnight Fund charges 0.09% a year and HSBC Overnight Fund 0.07% (Direct plans). Their portfolios overlap 1.0%: they hold 1 of the same security.
Bank of India Overnight Fund
Overnight
- 3 year return
- 6.2%
- Expense ratio
- 0.09%
- NAV
- ₹1,411.86
Which is better, Bank of India Overnight or HSBC Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bank of India Overnight returned more over 5 years: 5.9% a year against 5.8%.
- Bank of India Overnight returned more over 3 years: 6.2% a year against 6.0%.
- HSBC Overnight costs less: 0.07% a year against 0.09% (Direct plans).
- HSBC Overnight swung less over 3 years: a standard deviation of 0.0% a year against 0.1%.
- HSBC Overnight is the larger fund: ₹4,805 Cr against ₹88 Cr.
- Their portfolios overlap 1.0%: 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 | Bank of India Overnight Fund | HSBC Overnight Fund |
|---|---|---|
| Fund house | Bank of India Mutual Fund | HSBC Mutual Fund |
| Category | Overnight | Overnight |
| AUM | ₹88 Cr (30-09-2026) | ₹4,805 Cr (30-09-2026) |
| NAV | ₹1,411.86 (Direct) | ₹1,452.07 (Direct) |
| Expense ratio (Direct) | 0.09% | 0.07% |
| Expense ratio (Regular) | 0.14% | 0.14% |
| Riskometer | Low | Low |
| Benchmark | CRISIL Liquid Overnight Index (AI) | Nifty 1D Rate Index |
| Launch date | 28-01-2020 | 22-05-2019 |
| Minimum investment | ₹5,000 | For Growth Option : Rs. 5000; For Daily & Weekly IDCW Payout & Reinvestment Plan: Rs. 100000 |
| Lock in | None | None |
| Fund managers | Mithraem Bharucha | Abhishek Iyer, Rahul Totla |
| Exit load | NIL | Nil |
Bank of India Overnight vs HSBC Overnight: 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 |
|---|---|---|---|---|---|---|---|
| Bank of India Overnight Fund (Direct) | +0.45% | +1.30% | +2.79% | +5.48% | +6.16% | +5.89% | -- |
| HSBC Overnight Fund (Direct) | +0.45% | +1.29% | +2.60% | +5.26% | +6.02% | +5.78% | -- |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | +5.99% | +5.75% | -- |
Category average: the average of the 40 Overnight funds, same plan type.
Bank of India Overnight vs HSBC Overnight: Year-wise Returns
| Year | Bank of IndiaBank of India Overnight | HSBCHSBC Overnight |
|---|---|---|
| 2026to date | +4.53% | +4.32% |
| 2025 | +5.92% | +5.82% |
| 2024 | +6.81% | +6.73% |
| 2023 | +6.77% | +6.73% |
| 2022 | +4.82% | +4.72% |
| 2021 | +3.27% | +3.26% |
Bank of India Overnight vs HSBC Overnight: Rolling Returns
Every holding period of both funds, against Nifty 1D Rate Index TRI, the benchmark of HSBC Overnight Fund
Rolling returns
Every 3-year holding period, 1,367 of them, one for each trading day from 28-01-2023 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.
Bank of India Overnight Fund (Direct)
HSBC Overnight Fund (Direct)
Nifty 1D Rate Index TRI
to
May 2023Jan 2021
to
Jan 2024Aug 2021
to
Aug 2024Apr 2022
to
Apr 2025Dec 2022
to
Dec 2025Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bank of India Overnight | 0.0 | 25.8 | 74.2 | 0.0 | 0.0 | 0.0 | 0.0 | 5.7% | 6.1% | 4.0% | 6.6% | 100% |
| HSBC Overnight | 0.0 | 24.8 | 75.2 | 0.0 | 0.0 | 0.0 | 0.0 | 5.6% | 6.0% | 3.9% | 6.5% | 4% |
| Nifty 1D Rate Index TRI | 0.0 | 26.3 | 73.7 | 0.0 | 0.0 | 0.0 | 0.0 | 5.6% | 6.0% | 3.8% | 6.5% | -- |
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 Nifty 1D Rate Index 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 28-01-2020. Past returns do not promise future returns.
Bank of India Overnight vs HSBC Overnight: 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 28-01-2020 to 30-10-2026: 82 instalments, ₹8,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bank of India OvernightBank of India Overnight Fund (Direct) | ₹8,20,000 | ₹10,00,987 | ₹1,80,987 | 5.8% |
| HSBC OvernightHSBC Overnight Fund (Direct) | ₹8,20,000 | ₹9,96,971 | ₹1,76,971 | 5.6% |
Bank of India OvernightBank of India Overnight Fund (Direct)
HSBC OvernightHSBC Overnight 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.
Bank of India Overnight vs HSBC Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bank of India Overnight Fund (Direct) | HSBC Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.48% | +5.26% |
| Standard deviation | 0.11% | 0.04% |
| Sharpe ratio | 2.23 | 0.35 |
| Sortino ratio | 21.15 | 1.18 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | -- | 1.02 |
| Alpha | -- | +0.01% |
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 | Bank of India Overnight Fund (Direct) | HSBC Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.16% | +6.02% |
| Standard deviation | 0.07% | 0.04% |
| Sharpe ratio | 1.92 | -0.07 |
| Sortino ratio | 5.24 | -0.11 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | -- | 1.01 |
| Alpha | -- | −0.00% |
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 | Bank of India Overnight Fund (Direct) | HSBC Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.89% | +5.78% |
| Standard deviation | 0.07% | 0.09% |
| Sharpe ratio | 1.29 | -0.19 |
| Sortino ratio | 2.22 | -0.37 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | -- | 1.00 |
| Alpha | -- | −0.02% |
From daily NAVs, 30-10-2021 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.
| Measure | Bank of India Overnight Fund (Direct) | HSBC Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.24% | +5.14% |
| Standard deviation | 0.08% | 0.10% |
| Sharpe ratio | 1.21 | -0.14 |
| Sortino ratio | 1.91 | -0.25 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | -- | 1.00 |
| Alpha | -- | −0.01% |
From daily NAVs, 28-01-2020 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.
Bank of India Overnight Fund (Direct)
HSBC Overnight Fund (Direct)
Nifty 1D Rate Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bank of India Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| HSBC Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From daily values since 28-01-2020, 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.
Bank of India Overnight Fund (Direct)
HSBC Overnight Fund (Direct)
Nifty 1D Rate Index 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.
Bank of India Overnight Fund (Direct)
HSBC Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bank of India Overnight Fund (Direct)
HSBC Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Against Nifty 1D Rate Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bank of India Overnight Fund (Direct) | 102% | NaN% | 0.11% |
| HSBC Overnight Fund (Direct) | 100% | NaN% | 0.07% |
From month-end values since 28-01-2020. 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.
Bank of India Overnight vs HSBC Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: Bank of India Overnight Fund, September 2026; HSBC Overnight Fund, September 2026
Holdings in common
- Overlap
- 1.0%
- Held by both
- 1
- Only in Bank of India Overnight
- 1
- Only in HSBC Overnight
- 5
| Security | % of Bank of India Overnight | % of HSBC Overnight |
|---|---|---|
| 364 Days Tbill (MD 15/10/2026) | 2.83% | 1.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 1.0% means 1.0% 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 Bank of India Overnight Fund
| Security | % of fund |
|---|---|
| 91 Days Tbill (MD 01/10/2026) | 1.13% |
Largest holdings only in HSBC Overnight Fund
| Security | % of fund |
|---|---|
| 182 Days Treasury Bill 22-Oct-2026 | 3.01% |
| 91 Days Treasury Bill 29-Oct-2026 | 0.83% |
| 182Days TBILL 15-Oct-2026 | 0.73% |
| 91 Days Treasury Bill 08-Oct-2026 | 0.62% |
| 91 Days Treasury Bill 15-Oct-2026 | 0.21% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bank of India Overnight | HSBC Overnight |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 4.0% | 6.4% |
| Cash and others | 96.0% | 93.6% |
Bank of India Overnight vs HSBC Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bank of India Overnight Fund | HSBC Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.09% | 0.07% |
| Base expense ratio (Direct) | 0.08% | 0.05% |
| Total expense ratio (Regular) | 0.14% | 0.14% |
| Base expense ratio (Regular) | 0.12% | 0.11% |
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 Bank of India Overnight with
Bank of India Overnight Fund vs HSBC Overnight Fund: Frequently Asked Questions
What is the difference between Bank of India Overnight Fund and HSBC Overnight Fund?
Both are Overnight funds, run by Bank of India Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 1.0%. Bank of India Overnight Fund charges 0.09% a year and HSBC Overnight Fund 0.07%.
Which has given higher returns, Bank of India Overnight Fund or HSBC Overnight Fund?
Over 1 year: Bank of India Overnight Fund +5.48%, HSBC Overnight Fund +5.26%. Over 3 years: Bank of India Overnight Fund +6.16% a year, HSBC Overnight Fund +6.02% a year. Over 5 years: Bank of India Overnight Fund +5.89% a year, HSBC Overnight Fund +5.78% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bank of India Overnight Fund or HSBC Overnight Fund?
HSBC Overnight Fund charges less: 0.07% a year against 0.09%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bank of India Overnight Fund and HSBC Overnight Fund overlap?
1.0%. They hold 1 of the same securities, the largest shared ones being 364 Days Tbill (MD 15/10/2026). From each fund's latest monthly portfolio.
Which is riskier, Bank of India Overnight Fund or HSBC Overnight Fund?
On SEBI's riskometer, Bank of India Overnight Fund is rated Low and HSBC Overnight Fund Low. Over 3 years, the standard deviation of daily returns was 0.07% and 0.04% a year.
Which is better for SIP, Bank of India Overnight Fund or HSBC Overnight Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,12,334 in Bank of India Overnight Fund (XIRR 6.0% a year) and ₹7,09,905 in HSBC Overnight Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bank of India Overnight Fund and HSBC Overnight Fund?
Yes. 1.0% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Bank of India Overnight Fund and HSBC Overnight Fund?
Bank of India Overnight Fund: Mithraem Bharucha. HSBC Overnight Fund: Abhishek Iyer, Rahul Totla.
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.