DSP Conservative Hybrid Fund vs DSP Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Conservative Hybrid Fund is a Conservative Hybrid fund and DSP Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, DSP Conservative Hybrid Fund (Direct) returned 8.2% a year and DSP Value Fund (Direct) returned 16.3% a year. DSP Conservative Hybrid Fund charges 0.64% a year and DSP Value Fund 1.53% (Direct plans). Their portfolios overlap 18.6%: they hold 28 of the same securities.
DSP Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 8.2%
- Expense ratio
- 0.64%
- NAV
- ₹68.34
Which is better, DSP Conservative Hybrid or DSP Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Value returned more over 5 years: 12.3% a year against 7.4%.
- DSP Value returned more over 3 years: 16.3% a year against 8.2%.
- DSP Conservative Hybrid costs less: 0.64% a year against 1.53% (Direct plans).
- DSP Conservative Hybrid swung less over 3 years: a standard deviation of 3.2% a year against 10.4%.
- DSP Conservative Hybrid fell less in its worst fall since 11-12-2020: −4.5% against −16.4%.
- DSP Value holds 12.8% of the fund in foreign stocks; DSP Conservative Hybrid 0.0%.
- DSP Value holds more in large companies: 62.0% of the fund in large caps against 15.4%.
- DSP Value is the larger fund: ₹2,225 Cr against ₹175 Cr.
- Their portfolios overlap 18.6%: 28 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 | DSP Conservative Hybrid Fund | DSP Value Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | Conservative Hybrid | Value and Contra |
| AUM | ₹175 Cr (30-09-2026) | ₹2,225 Cr (30-09-2026) |
| NAV | ₹68.34 (Direct) | ₹23.73 (Direct) |
| Expense ratio (Direct) | 0.64% | 1.53% |
| Expense ratio (Regular) | 1.25% | 2.40% |
| Riskometer | Moderately High | Very High |
| Benchmark | CRISIL Hybrid 85+15 - Conservative Index | Nifty 500 TRI |
| Launch date | 11-06-2004 | 10-12-2020 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Abhishek Singh, Shantanu Godambe | Abhishek Singh, Kaivalya Nadkarni |
| Exit load | Nil | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. |
DSP Conservative Hybrid vs DSP Value: 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 |
|---|---|---|---|---|---|---|---|
| DSP Conservative Hybrid Fund (Direct) | −0.26% | −1.26% | +1.06% | +1.82% | +8.24% | +7.41% | +7.09% |
| DSP Value Fund (Direct) | −0.43% | −4.38% | −1.65% | +0.33% | +16.31% | +12.31% | -- |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
Category average: the average of the 18 Conservative Hybrid funds and the 30 Value and Contra funds, same plan type.
DSP Conservative Hybrid vs DSP Value: Year-wise Returns
| Year | Conservative HybridDSP Conservative Hybrid | ValueDSP Value |
|---|---|---|
| 2026to date | +0.64% | −0.94% |
| 2025 | +7.95% | +12.40% |
| 2024 | +11.66% | +21.81% |
| 2023 | +12.69% | +30.91% |
| 2022 | +4.21% | −1.80% |
| 2021 | +9.53% | +31.97% |
DSP Conservative Hybrid vs DSP Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of DSP Value Fund
Rolling returns
Every 3-year holding period, 698 of them, one for each trading day from 11-12-2023 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.
DSP Conservative Hybrid Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
to
Mar 2024Aug 2021
to
Aug 2024Feb 2022
to
Feb 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Conservative Hybrid | 0.0 | 0.0 | 66.3 | 33.7 | 0.0 | 0.0 | 0.0 | 9.7% | 9.3% | 8.0% | 12.1% | 0% |
| DSP Value | 0.0 | 0.0 | 0.0 | 1.3 | 70.0 | 28.8 | 0.0 | 18.7% | 18.6% | 13.2% | 23.8% | 78% |
| Nifty 500 TRI | 0.0 | 0.0 | 2.7 | 26.4 | 59.0 | 11.9 | 0.0 | 16.4% | 16.5% | 8.8% | 22.3% | -- |
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 11-12-2020. Past returns do not promise future returns.
DSP Conservative Hybrid vs DSP Value: 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 01-12-2020 to 30-10-2026: 71 instalments, ₹7,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Conservative HybridDSP Conservative Hybrid Fund (Direct) | ₹7,10,000 | ₹8,83,289 | ₹1,73,289 | 7.3% |
| DSP ValueDSP Value Fund (Direct) | ₹7,10,000 | ₹10,50,424 | ₹3,40,424 | 13.2% |
DSP Conservative HybridDSP Conservative Hybrid Fund (Direct)
DSP ValueDSP Value 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.
DSP Conservative Hybrid vs DSP Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Conservative Hybrid Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.82% | +0.33% |
| Standard deviation | 3.37% | 10.12% |
| Sharpe ratio | -1.02 | -0.48 |
| Sortino ratio | -1.38 | -0.66 |
| Maximum drawdown | −3.2% (30-03-2026) | −8.3% (23-03-2026) |
| Beta | -- | 0.66 |
| Alpha | -- | +3.56% |
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 | DSP Conservative Hybrid Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.24% | +16.31% |
| Standard deviation | 3.21% | 10.42% |
| Sharpe ratio | 0.69 | 0.99 |
| Sortino ratio | 0.97 | 1.36 |
| Maximum drawdown | −3.2% (30-03-2026) | −13.7% (07-04-2025) |
| Beta | -- | 0.68 |
| Alpha | -- | +7.28% |
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 | DSP Conservative Hybrid Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.41% | +12.31% |
| Standard deviation | 3.27% | 10.48% |
| Sharpe ratio | 0.49 | 0.62 |
| Sortino ratio | 0.69 | 0.85 |
| Maximum drawdown | −4.5% (16-06-2022) | −16.4% (20-06-2022) |
| Beta | -- | 0.66 |
| Alpha | -- | +4.49% |
From daily NAVs, 29-10-2021 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 | DSP Conservative Hybrid Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.20% | +15.82% |
| Standard deviation | 4.26% | 10.33% |
| Sharpe ratio | 0.51 | 1.01 |
| Sortino ratio | 0.67 | 1.40 |
| Maximum drawdown | −12.0% (23-03-2020) | −16.4% (20-06-2022) |
| Beta | -- | 0.63 |
| Alpha | -- | +5.42% |
From daily NAVs, 03-01-2013 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.
DSP Conservative Hybrid Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Conservative Hybrid Fund (Direct) | −4.5% | 05-04-2022 | 16-06-2022 | 17-08-2022 | 2 months | −1.6% |
| DSP Value Fund (Direct) | −16.4% | 17-01-2022 | 20-06-2022 | 02-12-2022 | 5 months | −6.0% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 11-12-2020, 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.
DSP Conservative Hybrid Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 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.
DSP Conservative Hybrid Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 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.
DSP Conservative Hybrid Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Conservative Hybrid Fund (Direct) | 35% | 12% | 11.23% |
| DSP Value Fund (Direct) | 84% | 56% | 7.41% |
From month-end values since 11-12-2020. 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.
DSP Conservative Hybrid vs DSP Value: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Conservative Hybrid Fund, September 2026; DSP Value Fund, September 2026
Holdings in common
- Overlap
- 18.6%
- Held by both
- 28
- Only in DSP Conservative Hybrid
- 22
- Only in DSP Value
- 19
| Security | % of DSP Conservative Hybrid | % of DSP Value |
|---|---|---|
| HDFC Bank Limited | 2.71% | 9.45% |
| ICICI Bank Limited | 1.82% | 8.22% |
| ITC Limited | 1.12% | 2.56% |
| Mahindra & Mahindra Limited | 1.08% | 3.29% |
| NTPC Limited | 0.99% | 2.65% |
| Alkem Laboratories Limited | 0.83% | 2.43% |
| Indus Towers Limited | 0.82% | 1.90% |
| Kotak Mahindra Bank Limited | 0.81% | 2.15% |
| Cipla Limited | 0.78% | 2.29% |
| Axis Bank Limited | 0.76% | 2.48% |
| Oil & Natural Gas Corporation Limited | 0.75% | 1.40% |
| SBI Life Insurance Co Limited | 0.72% | 2.13% |
| HDFC Life Insurance Co Limited | 0.70% | 1.99% |
| HDFC Asset Management Co Limited | 0.69% | 2.57% |
| Hero MotoCorp Limited | 0.65% | 2.30% |
| Maruti Suzuki India Limited | 0.63% | 2.59% |
| Infosys Limited | 0.45% | 1.61% |
| ICICI Lombard General Insurance Co Limited | 0.44% | 1.02% |
| Knowledge Realty Trust | 0.31% | 1.02% |
| Life Insurance Corporation Of India | 0.26% | 0.73% |
| Coromandel International Limited | 0.24% | 0.90% |
| Alembic Pharmaceuticals Limited | 0.23% | 0.23% |
| Syngene International Limited | 0.33% | 0.18% |
| Cyient Limited | 0.17% | 0.19% |
| Oberoi Realty Limited | 0.17% | 1.43% |
| Bharat Petroleum Corporation Limited | 0.14% | 0.84% |
| Hindustan Petroleum Corporation Limited | 0.14% | 0.59% |
| IPCA Laboratories Limited | 0.04% | 0.25% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.6% means 18.6% 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 DSP Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| 7.32% GOI 13112030 | 11.91% |
| 6.87% GOI FRB 22092033 | 8.94% |
| 7.03% Maharashtra SDL 25062038 | 8.17% |
| 7.06% GOI 10042028 | 5.95% |
| 6.48% GOI 06102035 | 5.63% |
Largest holdings only in DSP Value Fund
| Security | % of fund |
|---|---|
| Bharti Airtel Limited | 2.47% |
| State Bank of India | 2.02% |
| Power Grid Corporation of India Limited | 1.55% |
| Larsen & Toubro Limited | 1.34% |
| Emami Limited | 1.25% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Conservative Hybrid | DSP Value |
|---|---|---|
| Equity | 21.2% | 89.3% |
| Debt | 76.5% | 0.0% |
| Cash and others | 2.3% | 10.7% |
Market cap of stocks
| Market cap | DSP Conservative Hybrid | DSP Value |
|---|---|---|
| Large Cap | 15.4% | 62.0% |
| Mid Cap | 3.0% | 10.7% |
| Small Cap | 2.8% | 3.8% |
| Foreign stocks | 0.0% | 12.8% |
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 | DSP Conservative Hybrid | DSP Value |
|---|---|---|
| Banks | 6.1% | 24.3% |
| Automobiles | 2.4% | 8.8% |
| Insurance | 2.7% | 6.9% |
| Pharmaceuticals & Biotechnology | 2.3% | 6.7% |
| Telecom - Services | 0.8% | 4.4% |
| Power | 1.0% | 4.2% |
| Diversified FMCG | 1.1% | 2.6% |
| Consumer Durables | 1.1% | 1.8% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Conservative Hybrid vs DSP Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Conservative Hybrid Fund | DSP Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.64% | 1.53% |
| Base expense ratio (Direct) | 0.51% | 0.98% |
| Total expense ratio (Regular) | 1.25% | 2.40% |
| Base expense ratio (Regular) | 1.04% | 1.72% |
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 DSP Conservative Hybrid with
- DSP Conservative Hybrid vs Parag Parikh Conservative Hybrid
- DSP Conservative Hybrid vs HSBC Conservative Hybrid
- DSP Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- DSP Conservative Hybrid vs Nippon India Conservative Hybrid
- DSP Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
DSP Conservative Hybrid Fund vs DSP Value Fund: Frequently Asked Questions
What is the difference between DSP Conservative Hybrid Fund and DSP Value Fund?
DSP Conservative Hybrid Fund is a Conservative Hybrid fund, DSP Value Fund is a Value and Contra fund, run by DSP Mutual Fund. Their portfolios overlap 18.6%. DSP Conservative Hybrid Fund charges 0.64% a year and DSP Value Fund 1.53%.
Which has given higher returns, DSP Conservative Hybrid Fund or DSP Value Fund?
Over 1 year: DSP Conservative Hybrid Fund +1.82%, DSP Value Fund +0.33%. Over 3 years: DSP Conservative Hybrid Fund +8.24% a year, DSP Value Fund +16.31% a year. Over 5 years: DSP Conservative Hybrid Fund +7.41% a year, DSP Value Fund +12.31% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Conservative Hybrid Fund or DSP Value Fund?
DSP Conservative Hybrid Fund charges less: 0.64% a year against 1.53%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Conservative Hybrid Fund and DSP Value Fund overlap?
18.6%. They hold 28 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, ITC. From each fund's latest monthly portfolio.
Which is riskier, DSP Conservative Hybrid Fund or DSP Value Fund?
On SEBI's riskometer, DSP Conservative Hybrid Fund is rated Moderately High and DSP Value Fund Very High. Over 3 years, the standard deviation of daily returns was 3.21% and 10.42% a year.
Which is better for SIP, DSP Conservative Hybrid Fund or DSP Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,32,394 in DSP Conservative Hybrid Fund (XIRR 7.1% a year) and ₹8,42,999 in DSP Value Fund (XIRR 12.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Conservative Hybrid Fund and DSP Value Fund?
Yes. 18.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Conservative Hybrid Fund and DSP Value Fund?
DSP Conservative Hybrid Fund: Abhishek Singh, Shantanu Godambe. DSP Value Fund: Abhishek Singh, Kaivalya Nadkarni.
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.