DSP Credit Risk Fund vs HSBC Medium Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Credit Risk Fund is a Credit Risk fund and HSBC Medium Term Fund is a Medium Duration fund. In the 3 years to 30-10-2026, DSP Credit Risk Fund (Direct) returned 13.7% a year and HSBC Medium Term Fund (Direct) returned 7.5% a year. DSP Credit Risk Fund charges 0.42% a year and HSBC Medium Term Fund 0.41% (Direct plans). Their portfolios overlap 19.0%: they hold 4 of the same securities.
DSP Credit Risk Fund
Credit Risk
- 3 year return
- 13.7%
- Expense ratio
- 0.42%
- NAV
- ₹60.87
HSBC Medium Term Fund
Medium Duration
- 3 year return
- 7.5%
- Expense ratio
- 0.41%
- NAV
- ₹23.78
Which is better, DSP Credit Risk or HSBC Medium Term? 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 3 years: 13.7% a year against 7.5%.
- DSP Credit Risk returned more over 1 year: 10.3% against 4.3%.
- HSBC Medium Term costs less: 0.41% a year against 0.42% (Direct plans).
- HSBC Medium Term swung less over 3 years: a standard deviation of 1.2% a year against 6.1%.
- HSBC Medium Term fell less in its worst fall since 28-11-2022: −1.0% against −1.8%.
- HSBC Medium Term is the larger fund: ₹684 Cr against ₹326 Cr.
- Their portfolios overlap 19.0%: 4 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 | HSBC Medium Term Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | HSBC Mutual Fund |
| Category | Credit Risk | Medium Duration |
| AUM | ₹326 Cr (30-09-2026) | ₹684 Cr (31-08-2026) |
| NAV | ₹60.87 (Direct) | ₹23.78 (Direct) |
| Expense ratio (Direct) | 0.42% | 0.41% |
| Expense ratio (Regular) | 1.19% | 1.12% |
| Riskometer | Moderately High | Moderately High |
| Benchmark | CRISIL Credit Risk Debt B-II Index | NIFTY Medium Duration Debt Index A-III |
| Launch date | 13-05-2003 | 02-02-2015 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Vivek Ramakrishnan, Shalini Vasanta, Kunal Khudania | Shriram Ramanathan |
| 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. | Nil |
DSP Credit Risk vs HSBC Medium Term: 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% |
| HSBC Medium Term Fund (Direct) | −0.30% | −0.25% | +2.20% | +4.26% | +7.50% | -- | -- |
| Credit Risk average | −0.04% | +0.78% | +3.31% | +7.84% | +9.41% | +9.83% | +6.82% |
| Medium Duration average | −0.34% | −0.09% | +2.51% | +4.72% | +7.66% | -- | -- |
Category average: the average of the 13 Credit Risk funds and the 13 Medium Duration funds, same plan type.
DSP Credit Risk vs HSBC Medium Term: Year-wise Returns
| Year | DSP Credit RiskDSP Credit Risk | HSBC Medium TermHSBC Medium Term |
|---|---|---|
| 2026to date | +9.31% | +3.33% |
| 2025 | +21.99% | +8.57% |
| 2024 | +8.62% | +8.99% |
| 2023 | +16.57% | +7.72% |
| 2022 | +10.12% | -- |
| 2021 | +3.74% | -- |
DSP Credit Risk vs HSBC Medium Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 222 of them, one for each trading day from 28-11-2025 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.
DSP Credit Risk Fund (Direct)
HSBC Medium Term Fund (Direct)
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Credit Risk | 0.0 | 0.0 | 0.0 | 11.7 | 88.3 | 0.0 | 0.0 | 16.1% | 16.5% | 13.7% | 17.1% |
| HSBC Medium Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.0% | 8.0% | 7.5% | 8.5% |
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. Every fund is measured over the days all of them have, from 28-11-2022. Past returns do not promise future returns.
DSP Credit Risk vs HSBC Medium Term: 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 01-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Credit RiskDSP Credit Risk Fund (Direct) | ₹4,80,000 | ₹6,38,975 | ₹1,58,975 | 14.4% |
| HSBC Medium TermHSBC Medium Term Fund (Direct) | ₹4,80,000 | ₹5,49,938 | ₹69,938 | 6.8% |
DSP Credit RiskDSP Credit Risk Fund (Direct)
HSBC Medium TermHSBC Medium Term 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 HSBC Medium Term: 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) | HSBC Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.33% | +4.26% |
| Standard deviation | 6.10% | 1.39% |
| Sharpe ratio | 0.83 | -0.71 |
| Sortino ratio | 2.95 | -0.94 |
| Maximum drawdown | −1.8% (06-02-2026) | −1.0% (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) | HSBC Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.69% | +7.50% |
| Standard deviation | 6.13% | 1.23% |
| Sharpe ratio | 1.25 | 1.20 |
| Sortino ratio | 7.29 | 1.76 |
| Maximum drawdown | −1.8% (06-02-2026) | −1.0% (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) | HSBC Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.12% | +7.40% |
| Standard deviation | 4.36% | 1.19% |
| Sharpe ratio | 0.70 | 1.04 |
| Sortino ratio | 1.77 | 1.52 |
| Maximum drawdown | −6.0% (18-12-2018) | −1.0% (23-10-2026) |
| 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)
HSBC Medium Term 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) | −1.8% | 12-01-2026 | 06-02-2026 | 15-04-2026 | 2 months | −0.1% |
| HSBC Medium Term Fund (Direct) | −1.0% | 14-08-2026 | 23-10-2026 | Not yet | -- | −0.8% |
From daily values since 28-11-2022, 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)
HSBC Medium Term 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)
HSBC Medium Term Fund (Direct)
DSP Credit Risk vs HSBC Medium Term: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Credit Risk Fund, September 2026; HSBC Medium Term Fund, August 2026
Holdings in common
- Overlap
- 19.0%
- Held by both
- 4
- Only in DSP Credit Risk
- 21
- Only in HSBC Medium Term
- 26
| Security | % of DSP Credit Risk | % of HSBC Medium Term |
|---|---|---|
| 6.94% GOI 11052036 | 10.85% | 17.90% |
| Aditya Birla Renewables Limited | 4.61% | 3.96% |
| JTPM Metal Traders Limited | 4.97% | 3.94% |
| SBI Funds Management Pvt Limited/Fund Parent | 0.25% | 0.35% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.0% means 19.0% 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 DSP Credit Risk Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Limited | 7.50% |
| Aditya Birla Digital Fashion Ventures Limited | 6.18% |
| Nuvoco Vistas Corporation Limited | 6.09% |
| Adani Airport Holdings Limited | 6.08% |
| GMR Airports Limited | 5.05% |
Largest holdings only in HSBC Medium Term Fund
| Security | % of fund |
|---|---|
| Delhi International Airport Limited | 4.53% |
| SIDBI | 3.90% |
| JSW Kalinga Steel Ltd | 3.78% |
| Indian Railway Finance Corporation Ltd | 3.76% |
| Indian Railway Finance Corporation Ltd | 3.76% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Credit Risk | HSBC Medium Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 93.5% | 98.5% |
| Cash and others | 6.5% | 1.5% |
DSP Credit Risk vs HSBC Medium Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Credit Risk Fund | HSBC Medium Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.42% | 0.41% |
| Base expense ratio (Direct) | 0.34% | 0.34% |
| Total expense ratio (Regular) | 1.19% | 1.12% |
| Base expense ratio (Regular) | 1.00% | 0.94% |
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 HSBC Medium Term Fund: Frequently Asked Questions
What is the difference between DSP Credit Risk Fund and HSBC Medium Term Fund?
DSP Credit Risk Fund is a Credit Risk fund, HSBC Medium Term Fund is a Medium Duration fund, run by DSP Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 19.0%. DSP Credit Risk Fund charges 0.42% a year and HSBC Medium Term Fund 0.41%.
Which has given higher returns, DSP Credit Risk Fund or HSBC Medium Term Fund?
Over 1 year: DSP Credit Risk Fund +10.33%, HSBC Medium Term Fund +4.26%. Over 3 years: DSP Credit Risk Fund +13.69% a year, HSBC Medium Term Fund +7.50% 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 HSBC Medium Term Fund?
HSBC Medium Term Fund charges less: 0.41% a year against 0.42%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Credit Risk Fund and HSBC Medium Term Fund overlap?
19.0%. They hold 4 of the same securities, the largest shared ones being 6.94% GOI 11052036, Aditya Birla Renewables Limited, JTPM Metal Traders Limited. From each fund's latest monthly portfolio.
Which is riskier, DSP Credit Risk Fund or HSBC Medium Term Fund?
On SEBI's riskometer, DSP Credit Risk Fund is rated Moderately High and HSBC Medium Term Fund Moderately High. Over 3 years, the standard deviation of daily returns was 6.13% and 1.23% a year.
Which is better for SIP, DSP Credit Risk Fund or HSBC Medium Term Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,57,174 in DSP Credit Risk Fund (XIRR 13.9% a year) and ₹4,08,142 in HSBC Medium Term Fund (XIRR 6.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both DSP Credit Risk Fund and HSBC Medium Term Fund?
Yes. 19.0% 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 HSBC Medium Term Fund?
DSP Credit Risk Fund: Vivek Ramakrishnan, Shalini Vasanta, Kunal Khudania. HSBC Medium Term Fund: Shriram Ramanathan.
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.