DSP Short Term Fund vs ICICI Prudential Retirement Fund Hybrid Conservative Plan
Direct Plan, Growth option · Data as on 30-10-2026
DSP Short Term Fund is a Short Duration fund and ICICI Prudential Retirement Fund Hybrid Conservative Plan is a Solution fund. In the 3 years to 30-10-2026, DSP Short Term Fund (Direct) returned 7.0% a year and ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) returned 9.1% a year. DSP Short Term Fund charges 0.37% a year and ICICI Prudential Retirement Fund Hybrid Conservative Plan 1.03% (Direct plans). Their portfolios overlap 15.1%: they hold 2 of the same securities.
DSP Short Term Fund
Short Duration
- 3 year return
- 7.0%
- Expense ratio
- 0.37%
- NAV
- ₹53.88
ICICI Prudential Retirement Fund Hybrid Conservative Plan
Solution
- 3 year return
- 9.1%
- Expense ratio
- 1.03%
- NAV
- ₹19.71
Which is better, DSP Short Term or ICICI Prudential Retirement Fund Hybrid Conservative Plan? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Retirement Fund Hybrid Conservative Plan returned more over 5 years: 8.2% a year against 6.2%.
- ICICI Prudential Retirement Fund Hybrid Conservative Plan returned more over 3 years: 9.1% a year against 7.0%.
- DSP Short Term costs less: 0.37% a year against 1.03% (Direct plans).
- DSP Short Term swung less over 3 years: a standard deviation of 1.0% a year against 4.6%.
- DSP Short Term fell less in its worst fall since 28-02-2019: −2.8% against −10.2%.
- DSP Short Term is the larger fund: ₹3,416 Cr against ₹95 Cr.
- Their portfolios overlap 15.1%: 2 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 Short Term Fund | ICICI Prudential Retirement Fund Hybrid Conservative Plan |
|---|---|---|
| Fund house | DSP Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Short Duration | Solution |
| AUM | ₹3,416 Cr (30-09-2026) | ₹95 Cr (30-09-2026) |
| NAV | ₹53.88 (Direct) | ₹19.71 (Direct) |
| Expense ratio (Direct) | 0.37% | 1.03% |
| Expense ratio (Regular) | 0.96% | 2.24% |
| Riskometer | Moderate | Not available |
| Benchmark | CRISIL Short Duration Debt A-II Index | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index |
| Launch date | 09-09-2002 | 27-02-2019 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | 5 years, or until retirement if earlier |
| Fund managers | Karan Mundhra, Shantanu Godambe | Darshil Dedhia, Rohit Lakhotia, Manasvi Shah |
| Exit load | Nil | Nil |
DSP Short Term vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: 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 Short Term Fund (Direct) | −0.18% | +0.06% | +2.41% | +4.10% | +7.00% | +6.19% | +6.82% |
| ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) | −1.39% | −2.41% | +0.44% | +2.02% | +9.12% | +8.17% | -- |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
Category average: the average of the 25 Short Duration funds, same plan type.
DSP Short Term vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: Year-wise Returns
| Year | DSP Short TermDSP Short Term | ICICI Prudential Retirement Fund Hybrid Conservative PlanICICI Prudential Retirement Fund Hybrid Conservative Plan |
|---|---|---|
| 2026to date | +3.34% | +0.28% |
| 2025 | +7.88% | +10.28% |
| 2024 | +8.29% | +10.96% |
| 2023 | +7.31% | +16.28% |
| 2022 | +3.64% | +2.70% |
| 2021 | +3.47% | +8.85% |
DSP Short Term vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,134 of them, one for each trading day from 28-02-2022 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 Short Term Fund (Direct)
ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct)
to
Jul 2022Apr 2020
to
Apr 2023Feb 2021
to
Feb 2024Nov 2021
to
Nov 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 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 Short Term | 0.0 | 10.2 | 89.8 | 0.0 | 0.0 | 0.0 | 0.0 | 6.4% | 6.3% | 4.6% | 8.1% |
| ICICI Prudential Retirement Fund Hybrid Conservative Plan | 0.0 | 0.0 | 57.2 | 42.8 | 0.0 | 0.0 | 0.0 | 10.1% | 9.8% | 7.1% | 13.4% |
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 28-02-2019. Past returns do not promise future returns.
DSP Short Term vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: 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 01-02-2019 to 30-10-2026: 93 instalments, ₹9,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Short TermDSP Short Term Fund (Direct) | ₹9,30,000 | ₹11,94,724 | ₹2,64,724 | 6.4% |
| ICICI Prudential Retirement Fund Hybrid Conservative PlanICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) | ₹9,30,000 | ₹13,09,779 | ₹3,79,779 | 8.7% |
DSP Short TermDSP Short Term Fund (Direct)
ICICI Prudential Retirement Fund Hybrid Conservative PlanICICI Prudential Retirement Fund Hybrid Conservative Plan (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 Short Term vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Short Term Fund (Direct) | ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) |
|---|---|---|
| Return (CAGR) | +4.10% | +2.02% |
| Standard deviation | 1.30% | 4.56% |
| Sharpe ratio | -0.88 | -0.71 |
| Sortino ratio | -1.23 | -0.92 |
| Maximum drawdown | −0.7% (02-04-2026) | −4.3% (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 Short Term Fund (Direct) | ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) |
|---|---|---|
| Return (CAGR) | +7.00% | +9.12% |
| Standard deviation | 1.00% | 4.57% |
| Sharpe ratio | 0.98 | 0.68 |
| Sortino ratio | 1.46 | 0.92 |
| Maximum drawdown | −0.7% (02-04-2026) | −4.3% (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 Short Term Fund (Direct) | ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) |
|---|---|---|
| Return (CAGR) | +6.19% | +8.17% |
| Standard deviation | 0.95% | 4.17% |
| Sharpe ratio | 0.41 | 0.57 |
| Sortino ratio | 0.58 | 0.77 |
| Maximum drawdown | −0.9% (06-05-2022) | −4.7% (17-06-2022) |
| 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 Short Term Fund (Direct) | ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) |
|---|---|---|
| Return (CAGR) | +7.60% | +9.24% |
| Standard deviation | 1.33% | 4.53% |
| Sharpe ratio | 1.17 | 0.90 |
| Sortino ratio | 1.70 | 1.21 |
| Maximum drawdown | −2.8% (23-03-2020) | −10.2% (23-03-2020) |
| 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 Short Term Fund (Direct)
ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Short Term Fund (Direct) | −2.8% | 06-03-2020 | 23-03-2020 | 17-04-2020 | 25 days | −0.4% |
| ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct) | −10.2% | 14-02-2020 | 23-03-2020 | 22-06-2020 | 3 months | −3.6% |
From daily values since 28-02-2019, 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 Short Term Fund (Direct)
ICICI Prudential Retirement Fund Hybrid Conservative Plan (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 Short Term Fund (Direct)
ICICI Prudential Retirement Fund Hybrid Conservative Plan (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 Short Term Fund (Direct)
ICICI Prudential Retirement Fund Hybrid Conservative Plan (Direct)
DSP Short Term vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Short Term Fund, September 2026; ICICI Prudential Retirement Fund Hybrid Conservative Plan, September 2026
Holdings in common
- Overlap
- 15.1%
- Held by both
- 2
- Only in DSP Short Term
- 61
- Only in ICICI Prudential Retirement Fund Hybrid Conservative Plan
- 32
| Security | % of DSP Short Term | % of ICICI Prudential Retirement Fund Hybrid Conservative Plan |
|---|---|---|
| 6.94% GOI 11052036 | 13.31% | 32.70% |
| India Universal Trust | 3.81% | 1.76% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.1% means 15.1% 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 Short Term Fund
| Security | % of fund |
|---|---|
| 6.87% GOI FRB 22092033 | 4.59% |
| Bharti Telecom Limited | 4.04% |
| Small Industries Development Bank Of India | 2.93% |
| Knowledge Realty Trust | 2.90% |
| Canara Bank | 2.88% |
Largest holdings only in ICICI Prudential Retirement Fund Hybrid Conservative Plan
| Security | % of fund |
|---|---|
| Government Securities | 5.99% |
| Housing and Urban Development Corporation Ltd. | 5.35% |
| NABARD | 5.24% |
| Rural Electrification Corporation Ltd. | 4.26% |
| Government Securities | 3.77% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Short Term | ICICI Prudential Retirement Fund Hybrid Conservative Plan |
|---|---|---|
| Equity | 0.0% | 22.6% |
| Debt | 99.3% | 71.5% |
| Cash and others | 0.7% | 5.9% |
Market cap of stocks
| Market cap | DSP Short Term | ICICI Prudential Retirement Fund Hybrid Conservative Plan |
|---|---|---|
| Large Cap | -- | 15.9% |
| Mid Cap | -- | 3.6% |
| Small Cap | -- | 3.1% |
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 Short Term | ICICI Prudential Retirement Fund Hybrid Conservative Plan |
|---|---|---|
| Banks | 0.0% | 2.6% |
| Ferrous Metals | 0.0% | 2.6% |
| Auto Components | 0.0% | 2.5% |
| Retailing | 0.0% | 2.4% |
| Insurance | 0.0% | 2.1% |
| Consumer Durables | 0.0% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Short Term vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Short Term Fund | ICICI Prudential Retirement Fund Hybrid Conservative Plan |
|---|---|---|
| Total expense ratio (Direct) | 0.37% | 1.03% |
| Base expense ratio (Direct) | 0.30% | 0.79% |
| Total expense ratio (Regular) | 0.96% | 2.24% |
| Base expense ratio (Regular) | 0.80% | 1.84% |
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 Short Term Fund vs ICICI Prudential Retirement Fund Hybrid Conservative Plan: Frequently Asked Questions
What is the difference between DSP Short Term Fund and ICICI Prudential Retirement Fund Hybrid Conservative Plan?
DSP Short Term Fund is a Short Duration fund, ICICI Prudential Retirement Fund Hybrid Conservative Plan is a Solution fund, run by DSP Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 15.1%. DSP Short Term Fund charges 0.37% a year and ICICI Prudential Retirement Fund Hybrid Conservative Plan 1.03%.
Which has given higher returns, DSP Short Term Fund or ICICI Prudential Retirement Fund Hybrid Conservative Plan?
Over 1 year: DSP Short Term Fund +4.10%, ICICI Prudential Retirement Fund Hybrid Conservative Plan +2.02%. Over 3 years: DSP Short Term Fund +7.00% a year, ICICI Prudential Retirement Fund Hybrid Conservative Plan +9.12% a year. Over 5 years: DSP Short Term Fund +6.19% a year, ICICI Prudential Retirement Fund Hybrid Conservative Plan +8.17% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Short Term Fund or ICICI Prudential Retirement Fund Hybrid Conservative Plan?
DSP Short Term Fund charges less: 0.37% a year against 1.03%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Short Term Fund and ICICI Prudential Retirement Fund Hybrid Conservative Plan overlap?
15.1%. They hold 2 of the same securities, the largest shared ones being 6.94% GOI 11052036, India Universal Trust. From each fund's latest monthly portfolio.
Which is better for SIP, DSP Short Term Fund or ICICI Prudential Retirement Fund Hybrid Conservative Plan?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,19,654 in DSP Short Term Fund (XIRR 6.5% a year) and ₹7,49,660 in ICICI Prudential Retirement Fund Hybrid Conservative Plan (XIRR 8.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Short Term Fund and ICICI Prudential Retirement Fund Hybrid Conservative Plan?
Yes. 15.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Short Term Fund and ICICI Prudential Retirement Fund Hybrid Conservative Plan?
DSP Short Term Fund: Karan Mundhra, Shantanu Godambe. ICICI Prudential Retirement Fund Hybrid Conservative Plan: Darshil Dedhia, Rohit Lakhotia, Manasvi Shah.
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.