Franklin Build India Fund vs HDFC Infrastructure Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin Build India Fund is a Thematic fund and HDFC Infrastructure Fund is a Thematic fund. In the 3 years to 30-10-2026, Franklin Build India Fund (Direct) returned 14.5% a year and HDFC Infrastructure Fund (Direct) returned 12.1% a year. Franklin Build India Fund charges 1.15% a year and HDFC Infrastructure Fund 1.34% (Direct plans). Their portfolios overlap 38.5%: they hold 19 of the same securities.
Franklin Build India Fund
Thematic
- 3 year return
- 14.5%
- Expense ratio
- 1.15%
- NAV
- ₹154.38
HDFC Infrastructure Fund
Thematic
- 3 year return
- 12.1%
- Expense ratio
- 1.34%
- NAV
- ₹48.58
Which is better, Franklin Build India or HDFC Infrastructure? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Infrastructure returned more over 5 years: 17.3% a year against 16.5%.
- Franklin Build India returned more over 3 years: 14.5% a year against 12.1%.
- Franklin Build India costs less: 1.15% a year against 1.34% (Direct plans).
- HDFC Infrastructure swung less over 3 years: a standard deviation of 16.3% a year against 16.5%.
- Franklin Build India fell less in its worst fall since 01-01-2013: −42.8% against −63.1%.
- Franklin Build India is the larger fund: ₹3,024 Cr against ₹2,251 Cr.
- Their portfolios overlap 38.5%: 19 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 | Franklin Build India Fund | HDFC Infrastructure Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | HDFC Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹3,024 Cr (30-09-2026) | ₹2,251 Cr (30-09-2026) |
| NAV | ₹154.38 (Direct) | ₹48.58 (Direct) |
| Expense ratio (Direct) | 1.15% | 1.34% |
| Expense ratio (Regular) | 2.14% | 2.21% |
| Riskometer | Not available | Very High |
| Benchmark | BSE India Infrastructure TRI | BSE India Infrastructure TRI |
| Launch date | 04-09-2009 | 10-03-2008 |
| Minimum investment | 5000/1 | ₹100 |
| Lock in | None | None |
| Fund managers | Ajay Argal, Kiran Sebastian, Sandeep Manam | Ashish Shah, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | 1% if redeemed within 1 year of allotment | 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. |
Franklin Build India vs HDFC Infrastructure: 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 |
|---|---|---|---|---|---|---|---|
| Franklin Build India Fund (Direct) | −2.74% | −7.34% | −9.62% | −8.90% | +14.52% | +16.46% | +16.06% |
| HDFC Infrastructure Fund (Direct) | −4.33% | −6.58% | −7.77% | −10.41% | +12.12% | +17.28% | +10.72% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
Franklin Build India vs HDFC Infrastructure: Year-wise Returns
| Year | Franklin Build IndiaFranklin Build India | HDFC InfrastructureHDFC Infrastructure | BSE India Infrastructure Index TRI |
|---|---|---|---|
| 2026to date | −6.76% | −7.85% | −7.07% |
| 2025 | +4.76% | +3.18% | −2.32% |
| 2024 | +29.15% | +24.21% | +30.02% |
| 2023 | +52.74% | +56.54% | +61.08% |
| 2022 | +12.37% | +20.17% | +15.07% |
| 2021 | +47.37% | +44.15% | +51.72% |
Franklin Build India vs HDFC Infrastructure: Rolling Returns
Every holding period of both funds, against BSE India Infrastructure Index TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,667 of them, one for each trading day from 01-01-2016 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.
Franklin Build India Fund (Direct)
HDFC Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin Build India | 6.8 | 1.8 | 6.7 | 15.7 | 13.8 | 13.1 | 42.0 | 21.5% | 21.4% | −9.0% | 43.1% | 68% |
| HDFC Infrastructure | 17.9 | 9.7 | 13.3 | 12.7 | 8.1 | 6.3 | 32.0 | 14.8% | 13.2% | −21.7% | 46.6% | 28% |
| BSE India Infrastructure Index TRI | 12.0 | 5.6 | 14.0 | 19.5 | 11.2 | 7.1 | 30.6 | 17.0% | 14.5% | −18.3% | 49.6% | -- |
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 BSE India Infrastructure 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 01-01-2013. Past returns do not promise future returns.
Franklin Build India vs HDFC Infrastructure: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin Build IndiaFranklin Build India Fund (Direct) | ₹16,60,000 | ₹65,56,238 | ₹48,96,238 | 18.2% |
| HDFC InfrastructureHDFC Infrastructure Fund (Direct) | ₹16,60,000 | ₹43,88,698 | ₹27,28,698 | 13.1% |
Franklin Build IndiaFranklin Build India Fund (Direct)
HDFC InfrastructureHDFC Infrastructure 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.
Franklin Build India vs HDFC Infrastructure: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin Build India Fund (Direct) | HDFC Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.90% | −10.41% |
| Standard deviation | 14.90% | 15.10% |
| Sharpe ratio | -0.95 | -1.04 |
| Sortino ratio | -1.28 | -1.36 |
| Maximum drawdown | −13.8% (23-10-2026) | −14.3% (31-03-2026) |
| Beta | 0.81 | 0.81 |
| Alpha | −1.02% | −2.43% |
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 | Franklin Build India Fund (Direct) | HDFC Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.52% | +12.12% |
| Standard deviation | 16.53% | 16.26% |
| Sharpe ratio | 0.51 | 0.37 |
| Sortino ratio | 0.69 | 0.50 |
| Maximum drawdown | −20.3% (28-02-2025) | −21.3% (03-03-2025) |
| Beta | 0.67 | 0.65 |
| Alpha | +2.74% | +0.47% |
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 | Franklin Build India Fund (Direct) | HDFC Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.46% | +17.28% |
| Standard deviation | 15.84% | 16.50% |
| Sharpe ratio | 0.67 | 0.70 |
| Sortino ratio | 0.90 | 0.93 |
| Maximum drawdown | −20.3% (28-02-2025) | −21.3% (03-03-2025) |
| Beta | 0.67 | 0.69 |
| Alpha | +3.12% | +3.73% |
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 | Franklin Build India Fund (Direct) | HDFC Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.21% | +11.23% |
| Standard deviation | 17.19% | 20.38% |
| Sharpe ratio | 0.77 | 0.25 |
| Sortino ratio | 1.05 | 0.34 |
| Maximum drawdown | −42.8% (24-03-2020) | −63.1% (23-03-2020) |
| Beta | 0.70 | 0.83 |
| Alpha | +7.96% | −0.98% |
From daily NAVs, 01-01-2013 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.
Franklin Build India Fund (Direct)
HDFC Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Franklin Build India Fund (Direct) | −42.8% | 03-06-2019 | 24-03-2020 | 01-01-2021 | 9 months | −11.4% |
| HDFC Infrastructure Fund (Direct) | −63.1% | 08-01-2018 | 23-03-2020 | 26-08-2022 | 29 months | −11.9% |
| BSE India Infrastructure Index TRI | −55.9% | 08-01-2018 | 23-03-2020 | 04-03-2021 | 11 months | −25.7% |
From daily values since 01-01-2013, 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.
Franklin Build India Fund (Direct)
HDFC Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
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.
Franklin Build India Fund (Direct)
HDFC Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
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.
Franklin Build India Fund (Direct)
HDFC Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
Against BSE India Infrastructure Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin Build India Fund (Direct) | 85% | 58% | 11.36% |
| HDFC Infrastructure Fund (Direct) | 92% | 93% | 12.35% |
From month-end values since 01-01-2013. 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.
Franklin Build India vs HDFC Infrastructure: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin Build India Fund, September 2026; HDFC Infrastructure Fund, September 2026
Holdings in common
- Overlap
- 38.5%
- Held by both
- 19
- Only in Franklin Build India
- 24
- Only in HDFC Infrastructure
- 53
| Security | % of Franklin Build India | % of HDFC Infrastructure |
|---|---|---|
| Larsen & Toubro Ltd | 9.02% | 7.03% |
| Interglobe Aviation Ltd | 7.01% | 4.35% |
| Adani Ports and Special Economic Zone Ltd | 4.61% | 3.44% |
| NTPC Ltd | 4.48% | 3.23% |
| Power Grid Corporation of India Ltd | 2.89% | 2.12% |
| Kalpataru Projects International Ltd | 2.05% | 4.40% |
| HDFC Bank Ltd | 3.11% | 1.73% |
| Bharat Electronics Ltd | 1.99% | 1.62% |
| Reliance Industries Ltd | 3.14% | 1.58% |
| Hindustan Aeronautics Ltd | 3.12% | 1.56% |
| Delhivery Ltd | 2.85% | 1.37% |
| Oil & Natural Gas Corporation Ltd | 2.76% | 1.30% |
| NCC Ltd | 1.30% | 1.35% |
| Bharti Airtel Ltd | 4.13% | 1.20% |
| AIA Engineering Ltd | 1.28% | 1.17% |
| Tata Power Co Ltd | 3.68% | 1.16% |
| GAIL (India) Ltd | 1.52% | 1.10% |
| Ge Vernova T&D India Ltd | 1.57% | 0.84% |
| Gateway Distriparks Ltd | 0.31% | 0.66% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.5% means 38.5% 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 Franklin Build India Fund
| Security | % of fund |
|---|---|
| Axis Bank Ltd | 3.04% |
| APL Apollo Tubes Ltd | 2.43% |
| Sobha Ltd | 2.21% |
| NHPC Ltd | 2.17% |
| KEI Industries Ltd | 2.06% |
Largest holdings only in HDFC Infrastructure Fund
| Security | % of fund |
|---|---|
| ICICI Bank Ltd. | 3.49% |
| J.Kumar Infraprojects Ltd. | 2.88% |
| TD Power Systems Ltd. | 2.51% |
| G R Infraprojects Limited | 1.99% |
| Adani Power (Mundra) Limited | 1.88% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin Build India | HDFC Infrastructure |
|---|---|---|
| Equity | 94.3% | 97.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 5.7% | 2.7% |
Market cap of stocks
| Market cap | Franklin Build India | HDFC Infrastructure |
|---|---|---|
| Large Cap | 57.7% | 49.3% |
| Mid Cap | 14.5% | 9.0% |
| Small Cap | 19.0% | 34.8% |
| Not on AMFI's list | 3.1% | 4.2% |
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 | Franklin Build India | HDFC Infrastructure |
|---|---|---|
| Construction | 13.4% | 21.2% |
| Power | 14.4% | 11.6% |
| Transport Services | 11.4% | 8.7% |
| Industrial Products | 10.2% | 3.4% |
| Electrical Equipment | 2.6% | 8.3% |
| Transport Infrastructure | 4.6% | 7.0% |
| Banks | 6.2% | 6.7% |
| Aerospace & Defense | 5.1% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin Build India vs HDFC Infrastructure: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin Build India Fund | HDFC Infrastructure Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.15% | 1.34% |
| Base expense ratio (Direct) | 0.82% | 0.99% |
| Total expense ratio (Regular) | 2.14% | 2.21% |
| Base expense ratio (Regular) | 1.68% | 1.74% |
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 Franklin Build India with
Franklin Build India Fund vs HDFC Infrastructure Fund: Frequently Asked Questions
What is the difference between Franklin Build India Fund and HDFC Infrastructure Fund?
Franklin Build India Fund is a Thematic fund, HDFC Infrastructure Fund is a Thematic fund, run by Franklin Templeton Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 38.5%. Franklin Build India Fund charges 1.15% a year and HDFC Infrastructure Fund 1.34%.
Which has given higher returns, Franklin Build India Fund or HDFC Infrastructure Fund?
Over 1 year: Franklin Build India Fund −8.90%, HDFC Infrastructure Fund −10.41%. Over 3 years: Franklin Build India Fund +14.52% a year, HDFC Infrastructure Fund +12.12% a year. Over 5 years: Franklin Build India Fund +16.46% a year, HDFC Infrastructure Fund +17.28% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin Build India Fund or HDFC Infrastructure Fund?
Franklin Build India Fund charges less: 1.15% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin Build India Fund and HDFC Infrastructure Fund overlap?
38.5%. They hold 19 of the same securities, the largest shared ones being LT, INDIGO, ADANIPORTS. From each fund's latest monthly portfolio.
Which is better for SIP, Franklin Build India Fund or HDFC Infrastructure Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,60,539 in Franklin Build India Fund (XIRR 13.5% a year) and ₹8,48,467 in HDFC Infrastructure Fund (XIRR 13.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Franklin Build India Fund and HDFC Infrastructure Fund?
Yes. 38.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Franklin Build India Fund and HDFC Infrastructure Fund?
Franklin Build India Fund: Ajay Argal, Kiran Sebastian, Sandeep Manam. HDFC Infrastructure Fund: Ashish Shah, 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.