DSP Nifty 500 Index Fund vs HDFC Balanced Advantage Fund

Direct Plan, Growth option · Data as on 30-10-2026

DSP Nifty 500 Index Fund is an Index fund and HDFC Balanced Advantage Fund is a Balanced Advantage fund. DSP Nifty 500 Index Fund charges 0.33% a year and HDFC Balanced Advantage Fund 0.77% (Direct plans). Their portfolios overlap 48.7%: they hold 136 of the same securities.

DSP Nifty 500 Index Fund

Index

Expense ratio: 0.33%
NAV: ₹9.15

See DSP Nifty 500 Index Fund

HDFC Balanced Advantage Fund

Balanced Advantage

Expense ratio: 0.77%
NAV: ₹546.24

See HDFC Balanced Advantage Fund

Which is better, DSP Nifty 500 Index or HDFC Balanced Advantage? Key differences

It depends on what you want from the fund. These are the differences in numbers, from the data on this page.

DSP Nifty 500 Index costs less: 0.33% a year against 0.77% (Direct plans).
HDFC Balanced Advantage fell less in its worst fall since 05-01-2026: −10.0% against −14.6%.
DSP Nifty 500 Index holds more in large companies: 66.8% of the fund in large caps against 54.4%.
HDFC Balanced Advantage is the larger fund: ₹1,02,534 Cr against ₹17 Cr.
Their portfolios overlap 48.7%: 136 of the same holdings.

Past returns do not promise future returns. This page is information, not investment advice.

NAV comparison

How each fund's NAV moved over the same days, as % change since the first day of the range

DSP Nifty 500 Index Fund (Direct)
−8.5%
HDFC Balanced Advantage Fund (Direct)
−6.3%

Change in NAV from 05-01-2026 to 30-10-2026

−15%−10%−5%0%+5%

Key facts

From each fund's scheme summary document and AMFI

Fact	DSP Nifty 500 Index Fund	HDFC Balanced Advantage Fund
Fund house	DSP Mutual Fund	HDFC Mutual Fund
Category	Index	Balanced Advantage
AUM	₹17 Cr (30-09-2026)	₹1,02,534 Cr (30-09-2026)
NAV	₹9.15 (Direct)	₹546.24 (Direct)
Expense ratio (Direct)	0.33%	0.77%
Expense ratio (Regular)	1.06%	1.30%
Riskometer	Very High	Very High
Benchmark	Nifty 500 TRI	NIFTY 50 Hybrid Composite Debt 50:50 Index
Launch date	05-01-2026	01-02-1994
Minimum investment	₹100	₹100
Lock in	None	None
Fund managers	Anil Ghelani, Diipesh Shah, Neha Rathi	Gopal Agrawal, Ihab Dalwai, Nandita Menezes, – Mr. Arun Agarwal, Anil Bamboli
Exit load	Nil	Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 1 year.

DSP Nifty 500 Index vs HDFC Balanced Advantage: 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 Nifty 500 Index Fund (Direct)	−0.79%	−6.11%	−2.97%	--	--	--	--
HDFC Balanced Advantage Fund (Direct)	−0.67%	−4.30%	−2.27%	−5.25%	+10.53%	+13.03%	+13.61%
Balanced Advantage average	−0.55%	−2.88%	+0.08%	−2.08%	+9.14%	+8.35%	+9.91%

Category average: the average of the 38 Balanced Advantage funds, same plan type.

DSP Nifty 500 Index vs HDFC Balanced Advantage: Year-wise Returns

Year	DSP Nifty 500 IndexDSP Nifty 500 Index	HDFC Balanced AdvantageHDFC Balanced Advantage
2026to date	--	−5.77%
2025	--	+7.87%
2024	--	+17.44%
2023	--	+32.13%
2022	--	+19.56%
2021	--	+27.11%

DSP Nifty 500 Index vs HDFC Balanced Advantage: Rolling Returns

Every holding period of both funds, against Nifty 500 TRI, the benchmark of DSP Nifty 500 Index Fund

DSP Nifty 500 Index vs HDFC Balanced Advantage: Risk and Drawdowns

How much each fund swings, and the worst fall over the same days

Risk and return

Measure	DSP Nifty 500 Index Fund (Direct)	HDFC Balanced Advantage Fund (Direct)
Return (CAGR)	−10.31%	+13.51%
Standard deviation	15.37%	14.22%
Sharpe ratio	-1.01	0.52
Sortino ratio	-1.34	0.71
Maximum drawdown	−14.6% (30-03-2026)	−34.2% (23-03-2020)
Beta	0.99	--
Alpha	−0.40%	--

From daily NAVs, 05-01-2026 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.

−15%−10%−5%0%

DSP Nifty 500 Index Fund (Direct)HDFC Balanced Advantage 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 Nifty 500 Index Fund (Direct)	−14.6%	05-01-2026	30-03-2026	Not yet	--	−8.5%
HDFC Balanced Advantage Fund (Direct)	−10.0%	05-01-2026	30-03-2026	Not yet	--	−6.3%
Nifty 500 TRI	−14.6%	05-01-2026	30-03-2026	Not yet	--	−8.2%

From daily values since 05-01-2026, the first day every fund has.

DSP Nifty 500 Index vs HDFC Balanced Advantage: Portfolio Overlap

From each fund's latest monthly portfolio: DSP Nifty 500 Index Fund, September 2026; HDFC Balanced Advantage Fund, September 2026

Holdings in common

Overlap: 48.7%
Held by both: 136
Only in DSP Nifty 500 Index: 362
Only in HDFC Balanced Advantage: 175

Security	% of DSP Nifty 500 Index	% of HDFC Balanced Advantage
ICICI Bank Limited	4.92%	5.06%
HDFC Bank Limited	5.64%	4.32%
Reliance Industries Limited	4.12%	3.64%
Bharti Airtel Limited	2.77%	3.05%
Larsen & Toubro Limited	2.28%	2.52%
State Bank of India	2.06%	3.28%
Axis Bank Limited	1.83%	2.65%
Kotak Mahindra Bank Limited	1.59%	1.58%
Infosys Limited	1.82%	1.45%
Eternal Limited	1.20%	1.68%
ITC Limited	1.31%	1.10%
Tata Consultancy Services Limited	1.09%	1.08%
Sun Pharmaceutical Industries Limited	1.00%	1.55%
Mahindra & Mahindra Limited	1.37%	0.82%
Maruti Suzuki India Limited	0.81%	1.42%
NTPC Limited	0.80%	2.00%
Tata Steel Limited	0.79%	0.68%
HCL Technologies Limited	0.67%	1.21%
Divi's Laboratories Limited	0.61%	0.81%
Interglobe Aviation Limited	0.59%	1.18%
Ultratech Cement Limited	0.67%	0.56%
Coal India Limited	0.53%	1.77%
Hindustan Aeronautics Limited	0.46%	0.45%
Bajaj Auto Limited	0.62%	0.40%
SBI Life Insurance Co Limited	0.40%	0.88%
Embassy Office Parks REIT	0.39%	0.83%
Cholamandalam Investment and Finance Co Limited	0.36%	0.43%
Bajaj Finserv Limited	0.52%	0.34%
Bharat Petroleum Corporation Limited	0.32%	0.61%
Hindustan Unilever Limited	0.87%	0.31%
IndusInd Bank Limited	0.31%	0.57%
Britannia Industries Limited	0.30%	0.38%
AU Small Finance Bank Limited	0.30%	0.48%
Oil & Natural Gas Corporation Limited	0.46%	0.29%
Bharat Forge Limited	0.28%	0.35%
Life Insurance Corporation Of India	0.26%	1.17%
Lupin Limited	0.26%	1.13%
Power Finance Corporation Limited	0.25%	0.59%
GAIL (India) Limited	0.24%	0.82%
Aurobindo Pharma Limited	0.24%	0.44%
Brookfield India Real Estate Trust	0.23%	0.51%
Bank of Baroda	0.22%	0.67%
Jindal Steel Limited	0.22%	0.47%
United Spirits Limited	0.21%	0.28%
Trent Limited	0.45%	0.20%
Bosch Limited	0.20%	0.30%
REC Limited	0.19%	0.50%
Tech Mahindra Limited	0.50%	0.18%
Glenmark Pharmaceuticals Limited	0.18%	0.20%
Hindustan Petroleum Corporation Limited	0.17%	0.60%
Apar Industries Limited	0.17%	0.64%
Tata Motors Limited	0.46%	0.16%
Ashok Leyland Limited	0.23%	0.16%
Alkem Laboratories Limited	0.16%	0.28%
Asian Paints Limited	0.56%	0.15%
Vishal Mega Mart Limited	0.15%	0.37%
Hyundai Motor India Limited	0.15%	0.79%
Mphasis Limited	0.15%	0.27%
Cipla Limited	0.39%	0.14%
CG Power and Industrial Solutions Limited	0.30%	0.14%
HDFC Life Insurance Co Limited	0.29%	0.14%
Billionbrains Garage Ventures Limited	0.14%	0.20%
IPCA Laboratories Limited	0.14%	0.47%
NHPC Limited	0.14%	0.21%
Shriram Finance Limited	0.71%	0.13%
DLF Limited	0.22%	0.13%
Dr. Reddy's Laboratories Limited	0.39%	0.12%
Ambuja Cements Limited	0.12%	0.30%
Jio Financial Services Limited	0.37%	0.11%
Avenue Supermarts Limited	0.32%	0.11%
Tata Motors Passenger Vehicles Limited	0.31%	0.11%
Info Edge (India) Limited	0.25%	0.11%
Godrej Properties Limited	0.11%	0.20%
JSW Infrastructure Limited	0.11%	0.59%
Swiggy Limited	0.19%	0.10%
JSW Energy Limited	0.16%	0.10%
SBI Cards and Payment Services Limited	0.09%	0.11%
LG Electronics India Limited	0.09%	0.11%
Bandhan Bank Limited	0.09%	0.13%
Jubilant Foodworks Limited	0.09%	0.09%
Kalpataru Projects International Limited	0.08%	0.26%
ITC Hotels Limited	0.10%	0.07%
Crompton Greaves Consumer Electricals Limited	0.07%	0.15%
Apollo Tyres Limited	0.07%	0.36%
Vodafone Idea Limited	0.19%	0.06%
Torrent Power Limited	0.12%	0.06%
Home First Finance Co India Limited	0.06%	0.07%
Kaynes Technology India Limited	0.06%	0.39%
Persistent Systems Limited	0.30%	0.05%
360 One Wam Limited	0.14%	0.05%
Bharti Hexacom Limited	0.06%	0.05%
Five-Star Business Finance Limited	0.05%	0.34%
Bharat Dynamics Limited	0.05%	0.23%
Indraprastha Gas Limited	0.05%	0.09%
Adani Ports and Special Economic Zone Limited	0.73%	0.04%
PB Fintech Limited	0.20%	0.04%
Voltas Limited	0.13%	0.04%
ICICI Prudential Asset Management Co Limited	0.09%	0.04%
Housing & Urban Development Corporation Limited	0.04%	0.05%
Cohance Lifesciences Limited	0.04%	0.18%
Hexaware Technologies Limited	0.04%	0.26%
Zee Entertainment Enterprises Limited	0.04%	0.06%
BEML Limited	0.04%	0.42%
Aditya Birla Sun Life AMC Limited	0.04%	0.12%
CESC Limited	0.04%	0.17%
Whirlpool Of India Limited	0.04%	0.12%
Colgate Palmolive (India) Limited	0.12%	0.03%
Canara HSBC Life Insurance Co Limited	0.03%	0.43%
Tenneco Clean Air India Limited	0.03%	0.08%
Techno Electric & Engineering Co Limited	0.03%	0.42%
Garden Reach Shipbuilders & Engineers Limited	0.03%	0.14%
Rubicon Research Limited	0.03%	0.28%
PCBL Chemical Limited	0.03%	0.20%
Titagarh Rail Systems Limited	0.03%	0.34%
Devyani International Limited	0.03%	0.04%
Varun Beverages Limited	0.31%	0.02%
L&T Finance Limited	0.12%	0.02%
Coromandel International Limited	0.11%	0.02%
Bajaj Housing Finance Limited	0.05%	0.02%
Aditya Infotech Limited	0.05%	0.02%
Emcure Pharmaceuticals Limited	0.04%	0.02%
Chambal Fertilizers & Chemicals Limited	0.03%	0.02%
Tega Industries Limited	0.02%	0.25%
UTI Asset Management Co Limited	0.02%	0.09%
Aegis Vopak Terminals Limited	0.02%	0.08%
Nuvoco Vistas Corporation Limited	0.02%	0.07%
Aavas Financiers Limited	0.02%	0.24%
Union Bank Of India	0.17%	0.01%
UPL Limited	0.16%	0.01%
Aster DM Quality Care Limited	0.10%	0.01%
Star Health And Allied Insurance Co Limited	0.07%	0.01%
Tata Chemicals Limited	0.05%	0.01%
Paradeep Phosphates Limited	0.03%	0.01%
Rites Limited	0.01%	0.01%
Heg Advanced Materials Limited	0.01%	0.02%
Rhi Magnesita India Limited	0.01%	0.04%

Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.7% means 48.7% 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 Nifty 500 Index Fund

Security	% of fund
Bajaj Finance Limited	1.36%
Titan Co Limited	0.98%
Bharat Electronics Limited	0.72%
Hindalco Industries Limited	0.71%
BSE Limited	0.66%

Largest holdings only in HDFC Balanced Advantage Fund

Security	% of fund
7.18% GOI MAT 140833	2.04%
7.34% GOI MAT 220464	0.74%
LIC Housing Finance Ltd.	0.63%
State Bank of India (Tier 2 - Basel III)	0.58%
6.9% GOI MAT 150465	0.55%

Asset and sector split

Share of each fund, from its latest monthly portfolio

Asset allocation

Asset	DSP Nifty 500 Index	HDFC Balanced Advantage
Equity	99.1%	73.4%
Debt	0.0%	23.6%
Cash and others	0.9%	2.9%

Market cap of stocks

Market cap	DSP Nifty 500 Index	HDFC Balanced Advantage
Large Cap	66.8%	54.4%
Mid Cap	20.8%	9.4%
Small Cap	11.3%	9.4%
Not on AMFI's list	0.1%	0.2%

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 Nifty 500 Index	HDFC Balanced Advantage
Banks	19.2%	18.8%
Finance	6.4%	3.0%
Pharmaceuticals & Biotechnology	5.7%	5.6%
IT - Software	5.6%	4.5%
Petroleum Products	5.0%	5.2%
Automobiles	4.9%	3.5%
Construction	2.7%	3.7%

The six largest sectors of each fund's stocks, % of the fund.

DSP Nifty 500 Index vs HDFC Balanced Advantage: Expense Ratio

What each plan charges a year, from AMFI's expense ratio file

Charge	DSP Nifty 500 Index Fund	HDFC Balanced Advantage Fund
Total expense ratio (Direct)	0.33%	0.77%
Base expense ratio (Direct)	0.17%	0.64%
Total expense ratio (Regular)	1.06%	1.30%
Base expense ratio (Regular)	0.80%	1.09%

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 HDFC Balanced Advantage with

DSP Nifty 500 Index Fund vs HDFC Balanced Advantage Fund: Frequently Asked Questions

What is the difference between DSP Nifty 500 Index Fund and HDFC Balanced Advantage Fund?

DSP Nifty 500 Index Fund is an Index fund, HDFC Balanced Advantage Fund is a Balanced Advantage fund, run by DSP Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 48.7%. DSP Nifty 500 Index Fund charges 0.33% a year and HDFC Balanced Advantage Fund 0.77%.

Which has the lower expense ratio, DSP Nifty 500 Index Fund or HDFC Balanced Advantage Fund?

DSP Nifty 500 Index Fund charges less: 0.33% a year against 0.77%. These are the Direct plans' total expense ratios reported to AMFI.

How much do DSP Nifty 500 Index Fund and HDFC Balanced Advantage Fund overlap?

48.7%. They hold 136 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.

Which is riskier, DSP Nifty 500 Index Fund or HDFC Balanced Advantage Fund?

On SEBI's riskometer, DSP Nifty 500 Index Fund is rated Very High and HDFC Balanced Advantage Fund Very High. Over their common history, the standard deviation of daily returns was 15.37% and 14.22% a year.

Can I invest in both DSP Nifty 500 Index Fund and HDFC Balanced Advantage Fund?

Yes. 48.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

Who manages DSP Nifty 500 Index Fund and HDFC Balanced Advantage Fund?

DSP Nifty 500 Index Fund: Anil Ghelani, Diipesh Shah, Neha Rathi. HDFC Balanced Advantage Fund: Gopal Agrawal, Ihab Dalwai, Nandita Menezes, – Mr. Arun Agarwal, Anil Bamboli.

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.