DSP Nifty Healthcare Index Fund vs HDFC Pharma and Healthcare Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Nifty Healthcare Index Fund is an Index fund and HDFC Pharma and Healthcare Fund is a Thematic fund. In the year to 30-10-2026, DSP Nifty Healthcare Index Fund (Direct) returned 11.2% and HDFC Pharma and Healthcare Fund (Direct) returned 23.1%. DSP Nifty Healthcare Index Fund charges 0.40% a year and HDFC Pharma and Healthcare Fund 1.05% (Direct plans). Their portfolios overlap 53.5%: they hold 15 of the same securities.
DSP Nifty Healthcare Index Fund
Index
- 1 year return
- 11.2%
- Expense ratio
- 0.40%
- NAV
- ₹11.71
HDFC Pharma and Healthcare Fund
Thematic
- 1 year return
- 23.1%
- Expense ratio
- 1.05%
- NAV
- ₹21.95
Which is better, DSP Nifty Healthcare Index or HDFC Pharma and Healthcare? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Pharma and Healthcare returned more over 1 year: 23.1% against 11.2%.
- DSP Nifty Healthcare Index costs less: 0.40% a year against 1.05% (Direct plans).
- DSP Nifty Healthcare Index fell less in its worst fall since 20-06-2025: −9.2% against −9.8%.
- DSP Nifty Healthcare Index holds more in large companies: 47.8% of the fund in large caps against 29.2%.
- HDFC Pharma and Healthcare is the larger fund: ₹3,501 Cr against ₹25 Cr.
- Their portfolios overlap 53.5%: 15 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 Nifty Healthcare Index Fund | HDFC Pharma and Healthcare Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | HDFC Mutual Fund |
| Category | Index | Thematic |
| AUM | ₹25 Cr (30-09-2026) | ₹3,501 Cr (30-09-2026) |
| NAV | ₹11.71 (Direct) | ₹21.95 (Direct) |
| Expense ratio (Direct) | 0.40% | 1.05% |
| Expense ratio (Regular) | 1.08% | 2.13% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY Healthcare TRI | BSE Healthcare TRI |
| Launch date | 20-06-2025 | 04-10-2023 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Anil Ghelani, Diipesh Shah, Neha Rathi | Nikhil Mathur, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Nil | In respect of each purchase/switch-in of units, an Exit load of 1% is payable if units are redeemed /switched-out within 30 days from the date of allotment. No Exit Load is payable if units are redeemed / switched out after 30 days from the date of allotment. |
DSP Nifty Healthcare Index vs HDFC Pharma and Healthcare: 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 Healthcare Index Fund (Direct) | +1.91% | −1.51% | +10.50% | +11.22% | -- | -- | -- |
| HDFC Pharma and Healthcare Fund (Direct) | +0.04% | +0.83% | +16.68% | +23.12% | +30.53% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
DSP Nifty Healthcare Index vs HDFC Pharma and Healthcare: Year-wise Returns
| Year | DSP Nifty Healthcare IndexDSP Nifty Healthcare Index | HDFC Pharma and HealthcareHDFC Pharma and Healthcare |
|---|---|---|
| 2026to date | +12.66% | +23.99% |
| 2025 | -- | +2.42% |
| 2024 | -- | +52.22% |
DSP Nifty Healthcare Index vs HDFC Pharma and Healthcare: Rolling Returns
Every holding period of both funds, against Nifty Healthcare Index TRI, the benchmark of DSP Nifty Healthcare Index Fund
Rolling returns
Every 1-year holding period, 89 of them, one for each trading day from 22-06-2026 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 Nifty Healthcare Index Fund (Direct)
HDFC Pharma and Healthcare Fund (Direct)
Nifty Healthcare Index TRI
to
Jul 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Nifty Healthcare Index | 0.0 | 3.4 | 11.2 | 64.0 | 21.3 | 0.0 | 0.0 | 12.4% | 12.7% | 2.9% | 18.3% | 0% |
| HDFC Pharma and Healthcare | 0.0 | 0.0 | 0.0 | 0.0 | 13.5 | 46.1 | 40.4 | 24.1% | 24.3% | 15.9% | 30.4% | 100% |
| Nifty Healthcare Index TRI | 0.0 | 2.2 | 12.4 | 64.0 | 21.3 | 0.0 | 0.0 | 12.8% | 13.0% | 3.2% | 18.6% | -- |
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. The benchmark is Nifty Healthcare 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 20-06-2025. Past returns do not promise future returns.
DSP Nifty Healthcare Index vs HDFC Pharma and Healthcare: 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 20-06-2025 to 30-10-2026: 17 instalments, ₹1,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Nifty Healthcare IndexDSP Nifty Healthcare Index Fund (Direct) | ₹1,70,000 | ₹1,87,567 | ₹17,567 | 14.0% |
| HDFC Pharma and HealthcareHDFC Pharma and Healthcare Fund (Direct) | ₹1,70,000 | ₹2,01,056 | ₹31,056 | 24.6% |
DSP Nifty Healthcare IndexDSP Nifty Healthcare Index Fund (Direct)
HDFC Pharma and HealthcareHDFC Pharma and Healthcare 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 Nifty Healthcare Index vs HDFC Pharma and Healthcare: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Nifty Healthcare Index Fund (Direct) | HDFC Pharma and Healthcare Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.22% | +23.12% |
| Standard deviation | 13.99% | 13.67% |
| Sharpe ratio | 0.43 | 1.31 |
| Sortino ratio | 0.63 | 1.93 |
| Maximum drawdown | −9.2% (23-10-2026) | −9.8% (23-10-2026) |
| Beta | 1.00 | 0.95 |
| Alpha | −0.26% | +11.09% |
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 Nifty Healthcare Index Fund (Direct) | HDFC Pharma and Healthcare Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.26% | +29.32% |
| Standard deviation | 13.60% | 13.98% |
| Sharpe ratio | 0.51 | 1.66 |
| Sortino ratio | 0.74 | 2.38 |
| Maximum drawdown | −9.2% (23-10-2026) | −14.9% (28-02-2025) |
| Beta | 1.00 | 0.95 |
| Alpha | −0.35% | +8.51% |
From daily NAVs, 20-06-2025 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.
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 Nifty Healthcare Index Fund (Direct)
HDFC Pharma and Healthcare Fund (Direct)
Nifty Healthcare Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Nifty Healthcare Index Fund (Direct) | −9.2% | 31-08-2026 | 23-10-2026 | Not yet | -- | −3.0% |
| HDFC Pharma and Healthcare Fund (Direct) | −9.8% | 21-09-2026 | 23-10-2026 | Not yet | -- | −4.1% |
| Nifty Healthcare Index TRI | −9.2% | 31-08-2026 | 23-10-2026 | Not yet | -- | −2.9% |
From daily values since 20-06-2025, 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 Nifty Healthcare Index Fund (Direct)
HDFC Pharma and Healthcare Fund (Direct)
Nifty Healthcare Index TRI
Against Nifty Healthcare Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Nifty Healthcare Index Fund (Direct) | 99% | 100% | 0.12% |
| HDFC Pharma and Healthcare Fund (Direct) | 120% | 84% | 4.79% |
From month-end values since 20-06-2025. 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 Nifty Healthcare Index vs HDFC Pharma and Healthcare: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Nifty Healthcare Index Fund, September 2026; HDFC Pharma and Healthcare Fund, September 2026
Holdings in common
- Overlap
- 53.5%
- Held by both
- 15
- Only in DSP Nifty Healthcare Index
- 5
- Only in HDFC Pharma and Healthcare
- 23
| Security | % of DSP Nifty Healthcare Index | % of HDFC Pharma and Healthcare |
|---|---|---|
| Divi's Laboratories Limited | 10.44% | 9.39% |
| Sun Pharmaceutical Industries Limited | 17.01% | 8.28% |
| Cipla Limited | 6.70% | 4.15% |
| Apollo Hospitals Enterprise Limited | 7.43% | 3.69% |
| Torrent Pharmaceuticals Limited | 6.25% | 3.65% |
| Max Healthcare Institute Limited | 6.12% | 3.61% |
| Lupin Limited | 4.36% | 3.55% |
| Dr. Reddy's Laboratories Limited | 6.65% | 3.19% |
| Alkem Laboratories Limited | 2.75% | 4.64% |
| IPCA Laboratories Limited | 2.37% | 2.98% |
| Glenmark Pharmaceuticals Limited | 3.11% | 2.09% |
| Zydus Lifesciences Limited | 2.55% | 1.82% |
| Gland Pharma Limited | 2.04% | 1.78% |
| Krishna Institute Of Medical Sciences Limited | 1.76% | 2.10% |
| Biocon Limited | 2.28% | 1.47% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 53.5% means 53.5% 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 Healthcare Index Fund
| Security | % of fund |
|---|---|
| Laurus Labs Limited | 6.82% |
| Aurobindo Pharma Limited | 4.09% |
| Fortis Healthcare Limited | 3.55% |
| Mankind Pharma Limited | 2.51% |
| Abbott India Limited | 1.25% |
Largest holdings only in HDFC Pharma and Healthcare Fund
| Security | % of fund |
|---|---|
| Aster DM Quality Care Limited | 3.56% |
| Neuland Laboratories Limited | 3.24% |
| Shilpa Medicare Ltd | 3.23% |
| Acutaas Chemicals Limited | 3.18% |
| Anthem Biosciences Limited | 3.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Nifty Healthcare Index | HDFC Pharma and Healthcare |
|---|---|---|
| Equity | 100.0% | 96.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 3.2% |
Market cap of stocks
| Market cap | DSP Nifty Healthcare Index | HDFC Pharma and Healthcare |
|---|---|---|
| Large Cap | 47.8% | 29.2% |
| Mid Cap | 48.4% | 30.1% |
| Small Cap | 3.8% | 32.5% |
| Not on AMFI's list | 0.0% | 5.0% |
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 Healthcare Index | HDFC Pharma and Healthcare |
|---|---|---|
| Pharmaceuticals & Biotechnology | 81.2% | 71.3% |
| Healthcare Services | 18.9% | 22.1% |
| Healthcare Equipment & Supplies | 0.0% | 2.4% |
| Retailing | 0.0% | 1.0% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Nifty Healthcare Index vs HDFC Pharma and Healthcare: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Nifty Healthcare Index Fund | HDFC Pharma and Healthcare Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.40% | 1.05% |
| Base expense ratio (Direct) | 0.21% | 0.71% |
| Total expense ratio (Regular) | 1.08% | 2.13% |
| Base expense ratio (Regular) | 0.80% | 1.65% |
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
DSP Nifty Healthcare Index Fund vs HDFC Pharma and Healthcare Fund: Frequently Asked Questions
What is the difference between DSP Nifty Healthcare Index Fund and HDFC Pharma and Healthcare Fund?
DSP Nifty Healthcare Index Fund is an Index fund, HDFC Pharma and Healthcare Fund is a Thematic fund, run by DSP Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 53.5%. DSP Nifty Healthcare Index Fund charges 0.40% a year and HDFC Pharma and Healthcare Fund 1.05%.
Which has given higher returns, DSP Nifty Healthcare Index Fund or HDFC Pharma and Healthcare Fund?
Over 1 year: DSP Nifty Healthcare Index Fund +11.22%, HDFC Pharma and Healthcare Fund +23.12%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Nifty Healthcare Index Fund or HDFC Pharma and Healthcare Fund?
DSP Nifty Healthcare Index Fund charges less: 0.40% a year against 1.05%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Nifty Healthcare Index Fund and HDFC Pharma and Healthcare Fund overlap?
53.5%. They hold 15 of the same securities, the largest shared ones being DIVISLAB, SUNPHARMA, CIPLA. From each fund's latest monthly portfolio.
Which is riskier, DSP Nifty Healthcare Index Fund or HDFC Pharma and Healthcare Fund?
On SEBI's riskometer, DSP Nifty Healthcare Index Fund is rated Very High and HDFC Pharma and Healthcare Fund Very High. Over 1 years, the standard deviation of daily returns was 13.99% and 13.67% a year.
Can I invest in both DSP Nifty Healthcare Index Fund and HDFC Pharma and Healthcare Fund?
Yes. 53.5% 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 Healthcare Index Fund and HDFC Pharma and Healthcare Fund?
DSP Nifty Healthcare Index Fund: Anil Ghelani, Diipesh Shah, Neha Rathi. HDFC Pharma and Healthcare Fund: Nikhil Mathur, Gopal Agrawal, Bhagyesh Kagalkar.
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.