DSP Credit Risk Fund vs HDFC Credit Risk Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Credit Risk Fund and HDFC Credit Risk Fund are both Credit Risk funds. In the 3 years to 30-10-2026, DSP Credit Risk Fund (Direct) returned 13.7% a year and HDFC Credit Risk Fund (Direct) returned 8.0% a year. DSP Credit Risk Fund charges 0.42% a year and HDFC Credit Risk Fund 1.01% (Direct plans). Their portfolios overlap 11.4%: they hold 6 of the same securities.
DSP Credit Risk Fund
Credit Risk
- 3 year return
- 13.7%
- Expense ratio
- 0.42%
- NAV
- ₹60.87
HDFC Credit Risk Fund
Credit Risk
- 3 year return
- 8.0%
- Expense ratio
- 1.01%
- NAV
- ₹28.34
Which is better, DSP Credit Risk or HDFC Credit Risk? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Credit Risk returned more over 5 years: 13.3% a year against 7.0%.
- DSP Credit Risk returned more over 3 years: 13.7% a year against 8.0%.
- DSP Credit Risk costs less: 0.42% a year against 1.01% (Direct plans).
- HDFC Credit Risk swung less over 3 years: a standard deviation of 1.0% a year against 6.1%.
- HDFC Credit Risk fell less in its worst fall since 25-03-2014: −2.6% against −6.0%.
- HDFC Credit Risk is the larger fund: ₹7,631 Cr against ₹326 Cr.
- Their portfolios overlap 11.4%: 6 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 Credit Risk Fund | HDFC Credit Risk Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | HDFC Mutual Fund |
| Category | Credit Risk | Credit Risk |
| AUM | ₹326 Cr (30-09-2026) | ₹7,631 Cr (30-09-2026) |
| NAV | ₹60.87 (Direct) | ₹28.34 (Direct) |
| Expense ratio (Direct) | 0.42% | 1.01% |
| Expense ratio (Regular) | 1.19% | 1.51% |
| Riskometer | Moderately High | High |
| Benchmark | CRISIL Credit Risk Debt B-II Index | NIFTY Credit Risk Bond Index B-II |
| Launch date | 13-05-2003 | 25-03-2014 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Vivek Ramakrishnan, Shalini Vasanta, Kunal Khudania | Praveen Jain, Bhavyesh Divecha, Gopal Agrawal |
| Exit load | 1. 3% - If the units are redeemed or switched out within 12 months from the date of allotment. 2. NIL - If units are redeemed or switched out on or after 12 months from the date of allotment Note: No exit load shall be levied in case of switch of investments from Direct Plan to Regular Plan and vice versa. | Exit load for units in excess of 15% of the investment, 1% will be charged for redemption within 12 months and 0.50% if redeemed after 12 months but within 18 months. |
DSP Credit Risk vs HDFC Credit Risk: 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 Credit Risk Fund (Direct) | −0.02% | +0.63% | +3.68% | +10.33% | +13.69% | +13.34% | +8.62% |
| HDFC Credit Risk Fund (Direct) | −0.06% | +0.83% | +3.29% | +6.18% | +8.02% | +7.04% | +7.76% |
| Credit Risk average | −0.04% | +0.78% | +3.31% | +7.84% | +9.41% | +9.83% | +6.82% |
Category average: the average of the 13 Credit Risk funds, same plan type.
DSP Credit Risk vs HDFC Credit Risk: Year-wise Returns
| Year | DSPDSP Credit Risk | HDFCHDFC Credit Risk |
|---|---|---|
| 2026to date | +9.31% | +5.19% |
| 2025 | +21.99% | +8.61% |
| 2024 | +8.62% | +8.86% |
| 2023 | +16.57% | +7.27% |
| 2022 | +10.12% | +4.37% |
| 2021 | +3.74% | +7.58% |
DSP Credit Risk vs HDFC Credit Risk: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,330 of them, one for each trading day from 27-03-2017 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 Credit Risk Fund (Direct)
HDFC Credit Risk Fund (Direct)
to
Jan 2018Aug 2016
to
Aug 2019Apr 2018
to
Apr 2021Nov 2019
to
Nov 2022Jul 2021
to
Jul 2024Jan 2023
to
Jan 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Credit Risk | 0.0 | 29.9 | 34.1 | 20.9 | 15.1 | 0.0 | 0.0 | 8.3% | 7.6% | 2.2% | 17.1% |
| HDFC Credit Risk | 0.0 | 0.0 | 92.2 | 7.8 | 0.0 | 0.0 | 0.0 | 8.3% | 8.2% | 6.3% | 11.6% |
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. Every fund is measured over the days all of them have, from 25-03-2014. Past returns do not promise future returns.
DSP Credit Risk vs HDFC Credit Risk: 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 03-03-2014 to 30-10-2026: 152 instalments, ₹15,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Credit RiskDSP Credit Risk Fund (Direct) | ₹15,20,000 | ₹29,34,923 | ₹14,14,923 | 9.9% |
| HDFC Credit RiskHDFC Credit Risk Fund (Direct) | ₹15,20,000 | ₹25,70,959 | ₹10,50,959 | 7.9% |
DSP Credit RiskDSP Credit Risk Fund (Direct)
HDFC Credit RiskHDFC Credit Risk 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 Credit Risk vs HDFC Credit Risk: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Credit Risk Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.33% | +6.18% |
| Standard deviation | 6.10% | 1.23% |
| Sharpe ratio | 0.83 | 0.76 |
| Sortino ratio | 2.95 | 1.07 |
| Maximum drawdown | −1.8% (06-02-2026) | −0.5% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Credit Risk Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.69% | +8.02% |
| Standard deviation | 6.13% | 0.99% |
| Sharpe ratio | 1.25 | 2.01 |
| Sortino ratio | 7.29 | 3.00 |
| Maximum drawdown | −1.8% (06-02-2026) | −0.5% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Credit Risk Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.34% | +7.04% |
| Standard deviation | 6.55% | 1.04% |
| Sharpe ratio | 1.15 | 1.20 |
| Sortino ratio | 8.23 | 1.58 |
| Maximum drawdown | −1.8% (06-02-2026) | −1.5% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Credit Risk Fund (Direct) | HDFC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.12% | +8.61% |
| Standard deviation | 4.36% | 1.44% |
| Sharpe ratio | 0.70 | 1.93 |
| Sortino ratio | 1.77 | 2.99 |
| Maximum drawdown | −6.0% (18-12-2018) | −2.6% (26-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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 Credit Risk Fund (Direct)
HDFC Credit Risk Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Credit Risk Fund (Direct) | −6.0% | 03-09-2018 | 18-12-2018 | 24-01-2020 | 13 months | −0.1% |
| HDFC Credit Risk Fund (Direct) | −2.6% | 06-03-2020 | 26-03-2020 | 17-06-2020 | 3 months | −0.2% |
From daily values since 25-03-2014, 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 Credit Risk Fund (Direct)
HDFC Credit Risk Fund (Direct)
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 Credit Risk Fund (Direct)
HDFC Credit Risk Fund (Direct)
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 Credit Risk Fund (Direct)
HDFC Credit Risk Fund (Direct)
DSP Credit Risk vs HDFC Credit Risk: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Credit Risk Fund, September 2026; HDFC Credit Risk Fund, September 2026
Holdings in common
- Overlap
- 11.4%
- Held by both
- 6
- Only in DSP Credit Risk
- 19
- Only in HDFC Credit Risk
- 87
| Security | % of DSP Credit Risk | % of HDFC Credit Risk |
|---|---|---|
| GMR Airports Limited | 3.34% | 4.87% |
| Aditya Birla Renewables Limited | 4.61% | 2.75% |
| JTPM Metal Traders Limited | 4.97% | 2.12% |
| 6.94% GOI 11052036 | 10.85% | 2.00% |
| Aditya Birla Digital Fashion Ventures Limited | 6.18% | 0.97% |
| SBI Funds Management Pvt Limited/Fund Parent | 0.25% | 0.33% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 11.4% means 11.4% 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 DSP Credit Risk Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Limited | 7.50% |
| Nuvoco Vistas Corporation Limited | 6.09% |
| Adani Airport Holdings Limited | 6.08% |
| GMR Airports Limited | 5.05% |
| Tata Housing Development Co Limited | 4.80% |
Largest holdings only in HDFC Credit Risk Fund
| Security | % of fund |
|---|---|
| Nirma Ltd. | 3.94% |
| Indus Infra Trust | 3.23% |
| Triumph Composites Private Limited | 3.12% |
| Jubilant Beverages Limited | 2.82% |
| Bamboo Hotel and Global Centre (Delhi) Private Limited | 2.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Credit Risk | HDFC Credit Risk |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 93.5% | 88.8% |
| Cash and others | 6.5% | 11.2% |
DSP Credit Risk vs HDFC Credit Risk: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Credit Risk Fund | HDFC Credit Risk Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.42% | 1.01% |
| Base expense ratio (Direct) | 0.34% | 0.86% |
| Total expense ratio (Regular) | 1.19% | 1.51% |
| Base expense ratio (Regular) | 1.00% | 1.29% |
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 Credit Risk with
DSP Credit Risk Fund vs HDFC Credit Risk Fund: Frequently Asked Questions
What is the difference between DSP Credit Risk Fund and HDFC Credit Risk Fund?
Both are Credit Risk funds, run by DSP Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 11.4%. DSP Credit Risk Fund charges 0.42% a year and HDFC Credit Risk Fund 1.01%.
Which has given higher returns, DSP Credit Risk Fund or HDFC Credit Risk Fund?
Over 1 year: DSP Credit Risk Fund +10.33%, HDFC Credit Risk Fund +6.18%. Over 3 years: DSP Credit Risk Fund +13.69% a year, HDFC Credit Risk Fund +8.02% a year. Over 5 years: DSP Credit Risk Fund +13.34% a year, HDFC Credit Risk Fund +7.04% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Credit Risk Fund or HDFC Credit Risk Fund?
DSP Credit Risk Fund charges less: 0.42% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Credit Risk Fund and HDFC Credit Risk Fund overlap?
11.4%. They hold 6 of the same securities, the largest shared ones being GMR Airports Limited, Aditya Birla Renewables Limited, JTPM Metal Traders Limited. From each fund's latest monthly portfolio.
Which is riskier, DSP Credit Risk Fund or HDFC Credit Risk Fund?
On SEBI's riskometer, DSP Credit Risk Fund is rated Moderately High and HDFC Credit Risk Fund High. Over 3 years, the standard deviation of daily returns was 6.13% and 0.99% a year.
Which is better for SIP, DSP Credit Risk Fund or HDFC Credit Risk Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,71,762 in DSP Credit Risk Fund (XIRR 14.0% a year) and ₹7,38,849 in HDFC Credit Risk Fund (XIRR 7.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Credit Risk Fund and HDFC Credit Risk Fund?
Yes. 11.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Credit Risk Fund and HDFC Credit Risk Fund?
DSP Credit Risk Fund: Vivek Ramakrishnan, Shalini Vasanta, Kunal Khudania. HDFC Credit Risk Fund: Praveen Jain, Bhavyesh Divecha, Gopal Agrawal.
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.