HDFC Balanced Advantage Fund vs HDFC Conservative Hybrid Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Balanced Advantage Fund is a Balanced Advantage fund and HDFC Conservative Hybrid Fund is a Conservative Hybrid fund. In the 3 years to 30-10-2026, HDFC Balanced Advantage Fund (Direct) returned 10.5% a year and HDFC Conservative Hybrid Fund (Direct) returned 7.2% a year. HDFC Balanced Advantage Fund charges 0.77% a year and HDFC Conservative Hybrid Fund 1.18% (Direct plans). Their portfolios overlap 21.2%: they hold 46 of the same securities.
HDFC Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 10.5%
- Expense ratio
- 0.77%
- NAV
- ₹546.24
HDFC Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 7.2%
- Expense ratio
- 1.18%
- NAV
- ₹88.45
Which is better, HDFC Balanced Advantage or HDFC Conservative Hybrid? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Balanced Advantage returned more over 5 years: 13.0% a year against 7.4%.
- HDFC Balanced Advantage returned more over 3 years: 10.5% a year against 7.2%.
- HDFC Balanced Advantage costs less: 0.77% a year against 1.18% (Direct plans).
- HDFC Conservative Hybrid swung less over 3 years: a standard deviation of 3.7% a year against 9.8%.
- HDFC Conservative Hybrid fell less in its worst fall since 01-01-2013: −12.1% against −34.2%.
- HDFC Balanced Advantage holds more in large companies: 54.4% of the fund in large caps against 16.3%.
- HDFC Balanced Advantage is the larger fund: ₹1,02,534 Cr against ₹3,108 Cr.
- Their portfolios overlap 21.2%: 46 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 | HDFC Balanced Advantage Fund | HDFC Conservative Hybrid Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Balanced Advantage | Conservative Hybrid |
| AUM | ₹1,02,534 Cr (30-09-2026) | ₹3,108 Cr (30-09-2026) |
| NAV | ₹546.24 (Direct) | ₹88.45 (Direct) |
| Expense ratio (Direct) | 0.77% | 1.18% |
| Expense ratio (Regular) | 1.30% | 1.70% |
| Riskometer | Very High | Moderately High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index |
| Launch date | 01-02-1994 | 26-12-2003 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Gopal Agrawal, Ihab Dalwai, Nandita Menezes, – Mr. Arun Agarwal, Anil Bamboli | Anupam Joshi, Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 1 year. | Exit load for units in excess of 15% of the investment, 1% will be charged for redemption within 1 year |
HDFC Balanced Advantage vs HDFC Conservative Hybrid: 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 |
|---|---|---|---|---|---|---|---|
| HDFC Balanced Advantage Fund (Direct) | −0.67% | −4.30% | −2.27% | −5.25% | +10.53% | +13.03% | +13.61% |
| HDFC Conservative Hybrid Fund (Direct) | −0.03% | −1.71% | +0.42% | −0.09% | +7.18% | +7.38% | +8.01% |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | +9.91% |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
Category average: the average of the 38 Balanced Advantage funds and the 18 Conservative Hybrid funds, same plan type.
HDFC Balanced Advantage vs HDFC Conservative Hybrid: Year-wise Returns
| Year | Balanced AdvantageHDFC Balanced Advantage | Conservative HybridHDFC Conservative Hybrid |
|---|---|---|
| 2026to date | −5.77% | −0.75% |
| 2025 | +7.87% | +6.15% |
| 2024 | +17.44% | +11.07% |
| 2023 | +32.13% | +14.48% |
| 2022 | +19.56% | +6.49% |
| 2021 | +27.11% | +13.84% |
HDFC Balanced Advantage vs HDFC Conservative Hybrid: Rolling Returns
Every holding period of both funds
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.
HDFC Balanced Advantage Fund (Direct)
HDFC Conservative Hybrid Fund (Direct)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Balanced Advantage | 1.8 | 5.4 | 6.4 | 33.6 | 27.9 | 14.4 | 10.5 | 15.9% | 15.5% | −3.7% | 33.8% |
| HDFC Conservative Hybrid | 0.0 | 6.6 | 36.8 | 53.0 | 3.7 | 0.0 | 0.0 | 9.9% | 10.3% | 1.7% | 17.2% |
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 01-01-2013. Past returns do not promise future returns.
HDFC Balanced Advantage vs HDFC Conservative Hybrid: 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 |
|---|---|---|---|---|
| HDFC Balanced AdvantageHDFC Balanced Advantage Fund (Direct) | ₹16,60,000 | ₹46,90,351 | ₹30,30,351 | 13.9% |
| HDFC Conservative HybridHDFC Conservative Hybrid Fund (Direct) | ₹16,60,000 | ₹31,12,712 | ₹14,52,712 | 8.6% |
HDFC Balanced AdvantageHDFC Balanced Advantage Fund (Direct)
HDFC Conservative HybridHDFC Conservative Hybrid 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.
HDFC Balanced Advantage vs HDFC Conservative Hybrid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Balanced Advantage Fund (Direct) | HDFC Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.25% | −0.09% |
| Standard deviation | 9.95% | 3.79% |
| Sharpe ratio | -1.05 | -1.41 |
| Sortino ratio | -1.39 | -1.87 |
| Maximum drawdown | −10.2% (30-03-2026) | −3.6% (30-03-2026) |
| 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 | HDFC Balanced Advantage Fund (Direct) | HDFC Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.53% | +7.18% |
| Standard deviation | 9.77% | 3.67% |
| Sharpe ratio | 0.46 | 0.32 |
| Sortino ratio | 0.61 | 0.43 |
| Maximum drawdown | −10.2% (30-03-2026) | −3.6% (30-03-2026) |
| 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 | HDFC Balanced Advantage Fund (Direct) | HDFC Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.03% | +7.38% |
| Standard deviation | 9.68% | 3.66% |
| Sharpe ratio | 0.75 | 0.43 |
| Sortino ratio | 1.01 | 0.58 |
| Maximum drawdown | −10.2% (30-03-2026) | −4.1% (20-06-2022) |
| 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 | HDFC Balanced Advantage Fund (Direct) | HDFC Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.51% | +9.12% |
| Standard deviation | 14.22% | 5.04% |
| Sharpe ratio | 0.52 | 0.61 |
| Sortino ratio | 0.71 | 0.83 |
| Maximum drawdown | −34.2% (23-03-2020) | −12.1% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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.
HDFC Balanced Advantage Fund (Direct)
HDFC Conservative Hybrid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Balanced Advantage Fund (Direct) | −34.2% | 04-07-2019 | 23-03-2020 | 03-12-2020 | 8 months | −6.5% |
| HDFC Conservative Hybrid Fund (Direct) | −12.1% | 11-02-2020 | 23-03-2020 | 13-08-2020 | 5 months | −2.2% |
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.
HDFC Balanced Advantage Fund (Direct)
HDFC Conservative Hybrid Fund (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.
HDFC Balanced Advantage Fund (Direct)
HDFC Conservative Hybrid Fund (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.
HDFC Balanced Advantage Fund (Direct)
HDFC Conservative Hybrid Fund (Direct)
HDFC Balanced Advantage vs HDFC Conservative Hybrid: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Balanced Advantage Fund, September 2026; HDFC Conservative Hybrid Fund, September 2026
Holdings in common
- Overlap
- 21.2%
- Held by both
- 46
- Only in HDFC Balanced Advantage
- 265
- Only in HDFC Conservative Hybrid
- 63
| Security | % of HDFC Balanced Advantage | % of HDFC Conservative Hybrid |
|---|---|---|
| ICICI Bank Ltd. | 5.06% | 2.13% |
| HDFC Bank Ltd. | 4.32% | 1.60% |
| State Bank of India | 3.28% | 1.39% |
| Axis Bank Ltd. | 2.65% | 1.29% |
| Reliance Industries Ltd. | 3.64% | 0.95% |
| Larsen and Toubro Ltd. | 2.52% | 0.85% |
| Kotak Mahindra Bank Limited | 1.58% | 0.81% |
| 7.34% GOI MAT 220464 | 0.74% | 2.91% |
| Sun Pharmaceutical Industries Ltd. | 1.55% | 0.73% |
| Embassy Office Parks REIT | 0.83% | 0.70% |
| Bharti Airtel Ltd. | 3.05% | 0.68% |
| NTPC Limited | 2.00% | 0.62% |
| Tata Consultancy Services Ltd. | 1.08% | 0.56% |
| 6.9% GOI MAT 150465 | 0.55% | 2.16% |
| Infosys Limited | 1.45% | 0.52% |
| Pipeline Infrastructure Pvt. Ltd. | 0.50% | 1.62% |
| 7.18% GOI MAT 140833 | 2.04% | 0.48% |
| 7.1% GOI MAT 080434 | 0.48% | 1.12% |
| HCL Technologies Ltd. | 1.21% | 0.47% |
| SBI Life Insurance Company Ltd. | 0.88% | 0.41% |
| Lupin Ltd. | 1.13% | 0.39% |
| REC Limited. | 0.38% | 1.55% |
| Indian Railways Finance Corp. Ltd. | 0.33% | 0.79% |
| Hindustan Unilever Ltd. | 0.31% | 0.42% |
| Oil & Natural Gas Corporation Ltd. | 0.29% | 0.44% |
| Muthoot Finance Ltd. | 0.29% | 0.80% |
| Bajaj Auto Limited | 0.40% | 0.28% |
| Coal India Ltd. | 1.77% | 0.27% |
| Bharat Petroleum Corporation Ltd. | 0.61% | 0.24% |
| Hindustan Petroleum Corp. Ltd. | 0.60% | 0.23% |
| Power Finance Corporation Ltd. | 0.59% | 0.23% |
| NHPC Ltd. | 0.21% | 0.28% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.20% | 0.81% |
| Muthoot Finance Ltd. | 0.15% | 1.61% |
| REC Limited. | 0.50% | 0.14% |
| Cipla Ltd. | 0.14% | 0.35% |
| 7.09% GOI MAT 050854 | 0.12% | 3.01% |
| Housing and Urban Development Corporation Ltd. | 0.12% | 1.56% |
| National Bank for Agri & Rural Dev. | 0.10% | 0.80% |
| Small Industries Development Bank | 0.10% | 0.48% |
| HDFC Bank Ltd. | 0.06% | 0.77% |
| 7.3% GOI MAT 190653 | 0.05% | 2.32% |
| Grasim Industries Ltd. | 0.05% | 0.80% |
| 6.79% GOI MAT 071034 | 0.03% | 0.94% |
| 7.23% GOI MAT 150439 | 0.02% | 3.21% |
| Union Bank of India | 0.01% | 0.28% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.2% means 21.2% 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 HDFC Balanced Advantage Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 1.68% |
| Maruti Suzuki India Limited | 1.42% |
| InterGlobe Aviation Ltd. | 1.18% |
| Life Insurance Corporation of India | 1.17% |
| ITC LIMITED | 1.10% |
Largest holdings only in HDFC Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| Indian Railways Finance Corp. Ltd. | 2.61% |
| Floating Rate GOI 2034 | 2.48% |
| Torrent Power Ltd. | 2.40% |
| Altius Telecom Infrastructure Trust | 1.72% |
| National Highways Authority of India | 1.64% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Balanced Advantage | HDFC Conservative Hybrid |
|---|---|---|
| Equity | 73.4% | 18.8% |
| Debt | 23.6% | 76.1% |
| Cash and others | 2.9% | 5.1% |
Market cap of stocks
| Market cap | HDFC Balanced Advantage | HDFC Conservative Hybrid |
|---|---|---|
| Large Cap | 54.4% | 16.3% |
| Mid Cap | 9.4% | 1.6% |
| Small Cap | 9.4% | 0.9% |
| Not on AMFI's list | 0.2% | 0.0% |
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 | HDFC Balanced Advantage | HDFC Conservative Hybrid |
|---|---|---|
| Banks | 18.8% | 7.5% |
| Pharmaceuticals & Biotechnology | 5.6% | 1.5% |
| Petroleum Products | 5.2% | 1.4% |
| IT - Software | 4.5% | 1.6% |
| Construction | 3.7% | 0.8% |
| Automobiles | 3.5% | 0.7% |
| Telecom - Services | 3.2% | 0.9% |
| Power | 2.6% | 1.4% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Balanced Advantage vs HDFC Conservative Hybrid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Balanced Advantage Fund | HDFC Conservative Hybrid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.77% | 1.18% |
| Base expense ratio (Direct) | 0.64% | 1.00% |
| Total expense ratio (Regular) | 1.30% | 1.70% |
| Base expense ratio (Regular) | 1.09% | 1.44% |
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
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Compare HDFC Conservative Hybrid with
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- HDFC Conservative Hybrid vs Nippon India Conservative Hybrid
- HDFC Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
HDFC Balanced Advantage Fund vs HDFC Conservative Hybrid Fund: Frequently Asked Questions
What is the difference between HDFC Balanced Advantage Fund and HDFC Conservative Hybrid Fund?
HDFC Balanced Advantage Fund is a Balanced Advantage fund, HDFC Conservative Hybrid Fund is a Conservative Hybrid fund, run by HDFC Mutual Fund. Their portfolios overlap 21.2%. HDFC Balanced Advantage Fund charges 0.77% a year and HDFC Conservative Hybrid Fund 1.18%.
Which has given higher returns, HDFC Balanced Advantage Fund or HDFC Conservative Hybrid Fund?
Over 1 year: HDFC Balanced Advantage Fund −5.25%, HDFC Conservative Hybrid Fund −0.09%. Over 3 years: HDFC Balanced Advantage Fund +10.53% a year, HDFC Conservative Hybrid Fund +7.18% a year. Over 5 years: HDFC Balanced Advantage Fund +13.03% a year, HDFC Conservative Hybrid Fund +7.38% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Balanced Advantage Fund or HDFC Conservative Hybrid Fund?
HDFC Balanced Advantage Fund charges less: 0.77% a year against 1.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Balanced Advantage Fund and HDFC Conservative Hybrid Fund overlap?
21.2%. They hold 46 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, SBIN. From each fund's latest monthly portfolio.
Which is riskier, HDFC Balanced Advantage Fund or HDFC Conservative Hybrid Fund?
On SEBI's riskometer, HDFC Balanced Advantage Fund is rated Very High and HDFC Conservative Hybrid Fund Moderately High. Over 3 years, the standard deviation of daily returns was 9.77% and 3.67% a year.
Which is better for SIP, HDFC Balanced Advantage Fund or HDFC Conservative Hybrid Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,84,851 in HDFC Balanced Advantage Fund (XIRR 9.9% a year) and ₹7,18,270 in HDFC Conservative Hybrid Fund (XIRR 6.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Balanced Advantage Fund and HDFC Conservative Hybrid Fund?
Yes. 21.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Balanced Advantage Fund and HDFC Conservative Hybrid Fund?
HDFC Balanced Advantage Fund: Gopal Agrawal, Ihab Dalwai, Nandita Menezes, – Mr. Arun Agarwal, Anil Bamboli. HDFC Conservative Hybrid Fund: Anupam Joshi, Anand Laddha, 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.