Edelweiss Recently Listed IPO Fund vs HDFC Innovation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Edelweiss Recently Listed IPO Fund is a Thematic fund and HDFC Innovation Fund is a Thematic fund. In the year to 30-10-2026, Edelweiss Recently Listed IPO Fund (Direct) returned 14.8% and HDFC Innovation Fund (Direct) returned 10.0%. Edelweiss Recently Listed IPO Fund charges 1.32% a year and HDFC Innovation Fund 1.02% (Direct plans). Their portfolios overlap 16.3%: they hold 22 of the same securities.
Edelweiss Recently Listed IPO Fund
Thematic
- 1 year return
- 14.8%
- Expense ratio
- 1.32%
- NAV
- ₹34.14
Which is better, Edelweiss Recently Listed IPO or HDFC Innovation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Edelweiss Recently Listed IPO returned more over 1 year: 14.8% against 10.0%.
- HDFC Innovation costs less: 1.02% a year against 1.32% (Direct plans).
- HDFC Innovation fell less in its worst fall since 17-07-2025: −12.3% against −16.1%.
- HDFC Innovation holds more in large companies: 44.3% of the fund in large caps against 8.2%.
- HDFC Innovation is the larger fund: ₹3,152 Cr against ₹1,276 Cr.
- Their portfolios overlap 16.3%: 22 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 | Edelweiss Recently Listed IPO Fund | HDFC Innovation Fund |
|---|---|---|
| Fund house | Edelweiss Mutual Fund | HDFC Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹1,276 Cr (30-09-2026) | ₹3,152 Cr (30-09-2026) |
| NAV | ₹34.14 (Direct) | ₹11.52 (Direct) |
| Expense ratio (Direct) | 1.32% | 1.02% |
| Expense ratio (Regular) | 2.58% | 2.09% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty IPO TRI | Nifty 500 TRI |
| Launch date | 22-02-2018 | 17-07-2025 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Bharat Lahoti, Bhavesh Jain | Amit Sinha, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Exit load of 2% if redeemed within 6 months. | • In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 1 month from the date of allotment. • No Exit Load is payable if Units are redeemed / switched-out after 1 month from the date of allotment. |
Edelweiss Recently Listed IPO vs HDFC Innovation: 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 |
|---|---|---|---|---|---|---|---|
| Edelweiss Recently Listed IPO Fund (Direct) | −3.79% | +3.64% | +10.59% | +14.82% | +16.50% | +10.65% | -- |
| HDFC Innovation Fund (Direct) | −1.16% | +0.14% | +11.94% | +9.99% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Edelweiss Recently Listed IPO vs HDFC Innovation: Year-wise Returns
| Year | Edelweiss Recently Listed IPOEdelweiss Recently Listed IPO | HDFC InnovationHDFC Innovation |
|---|---|---|
| 2026to date | +17.22% | +12.17% |
| 2025 | −4.38% | -- |
| 2024 | +30.50% | -- |
| 2023 | +36.04% | -- |
| 2022 | −19.29% | -- |
| 2021 | +58.01% | -- |
Edelweiss Recently Listed IPO vs HDFC Innovation: Rolling Returns
Every holding period of both funds, against Nifty IPO TRI, the benchmark of Edelweiss Recently Listed IPO Fund
Rolling returns
Every 1-year holding period, 71 of them, one for each trading day from 17-07-2026 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.
Edelweiss Recently Listed IPO Fund (Direct)
HDFC Innovation Fund (Direct)
Nifty IPO TRI
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Edelweiss Recently Listed IPO | 0.0 | 0.0 | 1.4 | 7.0 | 31.0 | 57.7 | 2.8 | 20.0% | 21.1% | 8.9% | 25.6% | 100% |
| HDFC Innovation | 0.0 | 0.0 | 9.9 | 33.8 | 38.0 | 18.3 | 0.0 | 15.8% | 16.2% | 5.6% | 22.8% | 96% |
| Nifty IPO TRI | 0.0 | 7.0 | 23.9 | 67.6 | 1.4 | 0.0 | 0.0 | 10.4% | 10.9% | 1.2% | 15.3% | -- |
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 IPO 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 17-07-2025. Past returns do not promise future returns.
Edelweiss Recently Listed IPO vs HDFC Innovation: 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 01-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Edelweiss Recently Listed IPOEdelweiss Recently Listed IPO Fund (Direct) | ₹1,60,000 | ₹1,82,427 | ₹22,427 | 20.1% |
| HDFC InnovationHDFC Innovation Fund (Direct) | ₹1,60,000 | ₹1,76,732 | ₹16,732 | 15.0% |
Edelweiss Recently Listed IPOEdelweiss Recently Listed IPO Fund (Direct)
HDFC InnovationHDFC Innovation 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.
Edelweiss Recently Listed IPO vs HDFC Innovation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Edelweiss Recently Listed IPO Fund (Direct) | HDFC Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.82% | +9.99% |
| Standard deviation | 17.85% | 15.01% |
| Sharpe ratio | 0.54 | 0.32 |
| Sortino ratio | 0.77 | 0.44 |
| Maximum drawdown | −13.7% (31-03-2026) | −12.3% (31-03-2026) |
| Beta | 0.96 | 0.95 |
| Alpha | +10.53% | +16.66% |
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 | Edelweiss Recently Listed IPO Fund (Direct) | HDFC Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.19% | +11.54% |
| Standard deviation | 18.62% | 14.15% |
| Sharpe ratio | 0.53 | 0.44 |
| Sortino ratio | 0.72 | 0.61 |
| Maximum drawdown | −32.3% (24-03-2020) | −12.3% (31-03-2026) |
| Beta | -- | 0.96 |
| Alpha | -- | +15.30% |
From daily NAVs, 27-02-2018 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.
Edelweiss Recently Listed IPO Fund (Direct)
HDFC Innovation Fund (Direct)
Nifty IPO TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Edelweiss Recently Listed IPO Fund (Direct) | −16.1% | 19-09-2025 | 31-03-2026 | 23-04-2026 | 23 days | −7.4% |
| HDFC Innovation Fund (Direct) | −12.3% | 17-11-2025 | 31-03-2026 | 06-05-2026 | 36 days | −5.5% |
| Nifty IPO TRI | −21.1% | 19-09-2025 | 30-03-2026 | 19-06-2026 | 3 months | −8.7% |
From daily values since 17-07-2025, 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.
Edelweiss Recently Listed IPO Fund (Direct)
HDFC Innovation Fund (Direct)
Nifty IPO TRI
Against Nifty IPO TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Edelweiss Recently Listed IPO Fund (Direct) | 102% | 70% | 6.87% |
| HDFC Innovation Fund (Direct) | 49% | 13% | 14.86% |
From month-end values since 17-07-2025. 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.
Edelweiss Recently Listed IPO vs HDFC Innovation: Portfolio Overlap
From each fund's latest monthly portfolio: Edelweiss Recently Listed IPO Fund, September 2026; HDFC Innovation Fund, September 2026
Holdings in common
- Overlap
- 16.3%
- Held by both
- 22
- Only in Edelweiss Recently Listed IPO
- 32
- Only in HDFC Innovation
- 56
| Security | % of Edelweiss Recently Listed IPO | % of HDFC Innovation |
|---|---|---|
| Lenskart Solutions Ltd. | 2.25% | 2.52% |
| Emmvee Photovoltaic Power Ltd. | 2.90% | 1.44% |
| ICICI Prudential Asset Mgmt Co Ltd. | 5.78% | 1.30% |
| Billionbrains Garage Ventures Ltd. | 2.39% | 1.06% |
| Ather Energy Ltd. | 3.29% | 1.00% |
| Sai Life Sciences Ltd | 0.96% | 1.13% |
| INDO-MIM Ltd. | 2.04% | 0.95% |
| Sedemac Mechatronics Ltd. | 3.97% | 0.93% |
| Rubicon Research Ltd. | 0.89% | 3.21% |
| Amagi Media Labs Ltd. | 0.77% | 1.08% |
| Aequs Ltd. | 2.19% | 0.63% |
| Tenneco Clean Air India Ltd. | 1.61% | 0.58% |
| Dhoot Transmission Ltd. | 1.75% | 0.52% |
| Urban Company Ltd. | 1.77% | 0.51% |
| Sudeep Pharma Ltd. | 3.63% | 0.46% |
| Molbio Diagnostics Ltd. | 1.95% | 0.45% |
| Tempsens Instruments (India) Ltd. | 1.86% | 0.35% |
| Rentomojo Ltd. | 3.20% | 0.32% |
| Atlanta Electricals Ltd. | 2.52% | 0.29% |
| Shiprocket Ltd. | 1.98% | 0.24% |
| Lumino Industries Ltd. | 0.37% | 0.21% |
| SBI Funds Management Ltd. | 2.59% | 0.17% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.3% means 16.3% 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 Edelweiss Recently Listed IPO Fund
| Security | % of fund |
|---|---|
| NSE India Ltd. | 5.32% |
| Meesho Ltd. | 5.12% |
| Shadowfax Technologies Ltd. | 4.00% |
| Prasol Chemicals Ltd. | 2.50% |
| Corona Remedies Ltd. | 2.21% |
Largest holdings only in HDFC Innovation Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 9.19% |
| Bajaj Finance Ltd. | 4.02% |
| Divis Laboratories Ltd. | 3.32% |
| Bharat Electronics Ltd. | 3.12% |
| Mahindra & Mahindra Ltd. | 3.10% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Edelweiss Recently Listed IPO | HDFC Innovation |
|---|---|---|
| Equity | 97.0% | 93.2% |
| Debt | 0.2% | 0.0% |
| Cash and others | 2.8% | 6.8% |
Market cap of stocks
| Market cap | Edelweiss Recently Listed IPO | HDFC Innovation |
|---|---|---|
| Large Cap | 8.2% | 44.3% |
| Mid Cap | 7.6% | 21.0% |
| Small Cap | 42.8% | 22.6% |
| Not on AMFI's list | 38.5% | 5.3% |
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 | Edelweiss Recently Listed IPO | HDFC Innovation |
|---|---|---|
| Pharmaceuticals & Biotechnology | 4.6% | 16.5% |
| Capital Markets | 16.1% | 2.5% |
| Retailing | 10.6% | 14.8% |
| Auto Components | 9.4% | 5.4% |
| Electrical Equipment | 7.3% | 8.3% |
| Aerospace & Defense | 2.2% | 7.2% |
| Chemicals & Petrochemicals | 6.1% | 4.1% |
| Industrial Manufacturing | 6.0% | 1.7% |
| Finance | 0.0% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
Edelweiss Recently Listed IPO vs HDFC Innovation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Edelweiss Recently Listed IPO Fund | HDFC Innovation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.32% | 1.02% |
| Base expense ratio (Direct) | 0.80% | 0.76% |
| Total expense ratio (Regular) | 2.58% | 2.09% |
| Base expense ratio (Regular) | 1.87% | 1.67% |
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 Edelweiss Recently Listed IPO with
Edelweiss Recently Listed IPO Fund vs HDFC Innovation Fund: Frequently Asked Questions
What is the difference between Edelweiss Recently Listed IPO Fund and HDFC Innovation Fund?
Edelweiss Recently Listed IPO Fund is a Thematic fund, HDFC Innovation Fund is a Thematic fund, run by Edelweiss Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 16.3%. Edelweiss Recently Listed IPO Fund charges 1.32% a year and HDFC Innovation Fund 1.02%.
Which has given higher returns, Edelweiss Recently Listed IPO Fund or HDFC Innovation Fund?
Over 1 year: Edelweiss Recently Listed IPO Fund +14.82%, HDFC Innovation Fund +9.99%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Edelweiss Recently Listed IPO Fund or HDFC Innovation Fund?
HDFC Innovation Fund charges less: 1.02% a year against 1.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Edelweiss Recently Listed IPO Fund and HDFC Innovation Fund overlap?
16.3%. They hold 22 of the same securities, the largest shared ones being LENSKART, EMMVEE, ICICIAMC. From each fund's latest monthly portfolio.
Which is riskier, Edelweiss Recently Listed IPO Fund or HDFC Innovation Fund?
On SEBI's riskometer, Edelweiss Recently Listed IPO Fund is rated Very High and HDFC Innovation Fund Very High. Over 1 years, the standard deviation of daily returns was 17.85% and 15.01% a year.
Can I invest in both Edelweiss Recently Listed IPO Fund and HDFC Innovation Fund?
Yes. 16.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Edelweiss Recently Listed IPO Fund and HDFC Innovation Fund?
Edelweiss Recently Listed IPO Fund: Bharat Lahoti, Bhavesh Jain. HDFC Innovation Fund: Amit Sinha, 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.