HDFC Banking and PSU Debt Fund vs HDFC Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Banking and PSU Debt Fund is a Banking & PSU fund and HDFC Short Term Fund is a Short Duration fund. In the 3 years to 30-10-2026, HDFC Banking and PSU Debt Fund (Direct) returned 6.8% a year and HDFC Short Term Fund (Direct) returned 7.2% a year. HDFC Banking and PSU Debt Fund charges 0.35% a year and HDFC Short Term Fund 0.39% (Direct plans). Their portfolios overlap 28.8%: they hold 55 of the same securities.
HDFC Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 6.8%
- Expense ratio
- 0.35%
- NAV
- ₹25.35
HDFC Short Term Fund
Short Duration
- 3 year return
- 7.2%
- Expense ratio
- 0.39%
- NAV
- ₹35.30
Which is better, HDFC Banking and PSU Debt or HDFC Short Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Short Term returned more over 5 years: 6.5% a year against 6.1%.
- HDFC Short Term returned more over 3 years: 7.2% a year against 6.8%.
- HDFC Banking and PSU Debt costs less: 0.35% a year against 0.39% (Direct plans).
- HDFC Short Term swung less over 3 years: a standard deviation of 0.9% a year against 1.1%.
- HDFC Short Term fell less in its worst fall since 26-03-2014: −2.7% against −3.1%.
- HDFC Short Term is the larger fund: ₹14,219 Cr against ₹5,055 Cr.
- Their portfolios overlap 28.8%: 55 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 Banking and PSU Debt Fund | HDFC Short Term Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Banking & PSU | Short Duration |
| AUM | ₹5,055 Cr (30-09-2026) | ₹14,219 Cr (30-09-2026) |
| NAV | ₹25.35 (Direct) | ₹35.30 (Direct) |
| Expense ratio (Direct) | 0.35% | 0.39% |
| Expense ratio (Regular) | 0.68% | 0.67% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Banking & PSU Debt Index A-II | CRISIL Short Duration Debt A-II Index |
| Launch date | 26-03-2014 | 25-06-2010 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Anil Bamboli, Gopal Agrawal | Anil Bamboli, Gopal Agrawal |
| Exit load | NIL | NIL |
HDFC Banking and PSU Debt vs HDFC Short Term: 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 Banking and PSU Debt Fund (Direct) | −0.44% | −0.41% | +2.03% | +3.44% | +6.75% | +6.09% | +6.99% |
| HDFC Short Term Fund (Direct) | −0.26% | +0.03% | +2.26% | +4.26% | +7.22% | +6.46% | +7.24% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
Category average: the average of the 19 Banking & PSU funds and the 25 Short Duration funds, same plan type.
HDFC Banking and PSU Debt vs HDFC Short Term: Year-wise Returns
| Year | Banking and PSU DebtHDFC Banking and PSU Debt | Short TermHDFC Short Term |
|---|---|---|
| 2026to date | +2.72% | +3.43% |
| 2025 | +7.87% | +8.19% |
| 2024 | +8.27% | +8.51% |
| 2023 | +7.28% | +7.59% |
| 2022 | +3.72% | +3.98% |
| 2021 | +4.13% | +4.40% |
HDFC Banking and PSU Debt vs HDFC Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,323 of them, one for each trading day from 27-03-2017 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 Banking and PSU Debt Fund (Direct)
HDFC Short Term Fund (Direct)
to
Jan 2018Aug 2016
to
Aug 2019Apr 2018
to
Apr 2021Nov 2019
to
Nov 2022Jul 2021
to
Jul 2024Jan 2023
to
Jan 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Banking and PSU Debt | 0.0 | 0.7 | 99.3 | 0.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.9% | 4.9% | 9.9% |
| HDFC Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.8% | 5.2% | 9.5% |
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 26-03-2014. Past returns do not promise future returns.
HDFC Banking and PSU Debt vs HDFC Short Term: 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 26-03-2014 to 30-10-2026: 152 instalments, ₹15,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Banking and PSU DebtHDFC Banking and PSU Debt Fund (Direct) | ₹15,20,000 | ₹24,14,726 | ₹8,94,726 | 7.0% |
| HDFC Short TermHDFC Short Term Fund (Direct) | ₹15,20,000 | ₹24,47,340 | ₹9,27,340 | 7.2% |
HDFC Banking and PSU DebtHDFC Banking and PSU Debt Fund (Direct)
HDFC Short TermHDFC Short Term 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 Banking and PSU Debt vs HDFC Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Banking and PSU Debt Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.44% | +4.26% |
| Standard deviation | 1.43% | 1.16% |
| Sharpe ratio | -1.26 | -0.85 |
| Sortino ratio | -1.68 | -1.13 |
| Maximum drawdown | −1.0% (23-10-2026) | −0.6% (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 | HDFC Banking and PSU Debt Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +7.22% |
| Standard deviation | 1.13% | 0.92% |
| Sharpe ratio | 0.64 | 1.29 |
| Sortino ratio | 0.92 | 1.91 |
| Maximum drawdown | −1.0% (23-10-2026) | −0.6% (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 | HDFC Banking and PSU Debt Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.09% | +6.46% |
| Standard deviation | 1.04% | 0.92% |
| Sharpe ratio | 0.28 | 0.72 |
| Sortino ratio | 0.38 | 0.99 |
| Maximum drawdown | −1.0% (23-10-2026) | −0.9% (06-05-2022) |
| 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 Banking and PSU Debt Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.66% | +7.83% |
| Standard deviation | 1.55% | 1.31% |
| Sharpe ratio | 1.18 | 1.36 |
| Sortino ratio | 1.91 | 2.08 |
| Maximum drawdown | −3.1% (24-03-2020) | −2.7% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 26-03-2014 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 Banking and PSU Debt Fund (Direct)
HDFC Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Banking and PSU Debt Fund (Direct) | −3.1% | 06-03-2020 | 24-03-2020 | 20-04-2020 | 27 days | −0.9% |
| HDFC Short Term Fund (Direct) | −2.7% | 06-03-2020 | 24-03-2020 | 31-03-2020 | 7 days | −0.5% |
From daily values since 26-03-2014, 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 Banking and PSU Debt Fund (Direct)
HDFC Short Term 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 Banking and PSU Debt Fund (Direct)
HDFC Short Term 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 Banking and PSU Debt Fund (Direct)
HDFC Short Term Fund (Direct)
HDFC Banking and PSU Debt vs HDFC Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Banking and PSU Debt Fund, September 2026; HDFC Short Term Fund, September 2026
Holdings in common
- Overlap
- 28.8%
- Held by both
- 55
- Only in HDFC Banking and PSU Debt
- 47
- Only in HDFC Short Term
- 86
| Security | % of HDFC Banking and PSU Debt | % of HDFC Short Term |
|---|---|---|
| Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 1.42% | 2.35% |
| Small Industries Development Bank | 1.98% | 1.41% |
| REC Limited. | 2.96% | 1.37% |
| National Bank for Agri & Rural Dev. | 2.47% | 1.05% |
| National Bank for Agri & Rural Dev. | 1.48% | 1.05% |
| Small Industries Development Bank | 1.47% | 1.04% |
| Pipeline Infrastructure Pvt. Ltd. | 0.99% | 1.73% |
| National Bank for Agri & Rural Dev. | 0.98% | 2.22% |
| Bajaj Housing Finance Ltd. | 0.98% | 1.57% |
| Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 0.95% | 1.51% |
| Power Finance Corporation Ltd. | 0.97% | 0.86% |
| REC Limited. | 1.01% | 0.72% |
| Bajaj Housing Finance Ltd. | 1.97% | 0.70% |
| SMFG India Credit Company Ltd | 1.49% | 0.70% |
| REC Limited. | 0.98% | 0.70% |
| Small Industries Development Bank | 0.97% | 0.69% |
| Punjab National Bank | 2.39% | 0.68% |
| Small Industries Development Bank | 0.99% | 0.67% |
| Indian Railways Finance Corp. Ltd. | 5.41% | 0.59% |
| 7.64% Gujarat SDL ISD 170124 MAT 170133 | 0.99% | 0.56% |
| REC Limited. | 1.51% | 0.54% |
| Toyota Financial Services India Ltd. | 0.54% | 0.72% |
| Small Industries Development Bank | 0.98% | 0.52% |
| Indian Railways Finance Corp. Ltd. | 0.52% | 0.56% |
| National Bank for Agri & Rural Dev. | 0.49% | 0.56% |
| National Bank for Agri & Rural Dev. | 0.49% | 0.52% |
| Small Industries Development Bank | 0.49% | 0.70% |
| UCO Bank | 1.69% | 0.40% |
| 6.94% GOI MAT 110536 | 0.39% | 0.86% |
| 7.64% % Gujarat SDL ISD 170124 Mat 170134 | 0.59% | 0.38% |
| LIC Housing Finance Ltd. | 0.50% | 0.36% |
| Corporate Debt Market Development Fund | 0.36% | 0.37% |
| Power Finance Corporation Ltd. | 2.44% | 0.35% |
| HDFC Bank Ltd. | 1.47% | 0.35% |
| National Bank for Agri & Rural Dev. | 1.18% | 0.35% |
| Poonawalla Fincorp Ltd | 0.49% | 0.35% |
| Small Industries Development Bank | 0.39% | 0.35% |
| Small Industries Development Bank | 0.97% | 0.34% |
| Union Bank of India | 0.48% | 0.34% |
| 7.63% Gujarat SDL ISD 240124 Mat 240133 | 0.49% | 0.32% |
| Mahanagar Telephone Nigam Ltd. | 0.95% | 0.31% |
| 7.39% TAMIL NADU SDL - Mat 150734 | 0.29% | 0.34% |
| 7.63% Gujarat SDL ISD 240124 Mat 240134 | 0.39% | 0.24% |
| 7.72% Bihar SDL - MAT 250241 | 0.19% | 0.35% |
| 7.20% Maharashtra SDL MAT 231036 | 0.19% | 0.30% |
| 7.63% Andhra Pradesh SDL ISD 030925 MAT 030937 | 0.19% | 0.17% |
| 7.48% Madhya Pradesh MAT 011045 | 0.19% | 0.17% |
| 7.63% Gujarat SDL - MAT 100637 | 0.17% | 0.25% |
| Housing and Urban Development Corporation Ltd. | 2.52% | 0.14% |
| 7.48% Andhra Pradesh SDL ISD 030925 MAT 030933 | 0.15% | 0.14% |
| 7.62% Andhra Pradesh SDL ISD 030925 MAT 030936 | 0.13% | 0.12% |
| 7.48% Andhra Pradesh SDL ISD 030925 MAT 030934 | 0.12% | 0.10% |
| 7.67% Haryana SDL MAT 250241 | 0.10% | 0.14% |
| Bajaj Finance Ltd. | 0.09% | 0.17% |
| 7.07% Gujarat SDL ISD 240925 MAT 240932 | 0.07% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.8% means 28.8% 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 Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| Bajaj Housing Finance Ltd. | 2.97% |
| Indian Railways Finance Corp. Ltd. | 2.96% |
| LIC Housing Finance Ltd. | 1.97% |
| Union Bank of India | 1.94% |
| Power Grid Corporation of India Ltd. | 1.58% |
Largest holdings only in HDFC Short Term Fund
| Security | % of fund |
|---|---|
| Jubilant Beverages Limited | 3.03% |
| JTPM Metal Traders Limited | 2.73% |
| Jamnagar Utilities & Power Pvt. Limited | 2.46% |
| ADITYA BIRLA RENEWABLES LIMITED | 2.18% |
| National Bank for Agri & Rural Dev. | 1.93% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Banking and PSU Debt | HDFC Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.2% | 94.2% |
| Cash and others | 4.8% | 5.8% |
HDFC Banking and PSU Debt vs HDFC Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Banking and PSU Debt Fund | HDFC Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.35% | 0.39% |
| Base expense ratio (Direct) | 0.30% | 0.33% |
| Total expense ratio (Regular) | 0.68% | 0.67% |
| Base expense ratio (Regular) | 0.58% | 0.57% |
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 HDFC Banking and PSU Debt with
HDFC Banking and PSU Debt Fund vs HDFC Short Term Fund: Frequently Asked Questions
What is the difference between HDFC Banking and PSU Debt Fund and HDFC Short Term Fund?
HDFC Banking and PSU Debt Fund is a Banking & PSU fund, HDFC Short Term Fund is a Short Duration fund, run by HDFC Mutual Fund. Their portfolios overlap 28.8%. HDFC Banking and PSU Debt Fund charges 0.35% a year and HDFC Short Term Fund 0.39%.
Which has given higher returns, HDFC Banking and PSU Debt Fund or HDFC Short Term Fund?
Over 1 year: HDFC Banking and PSU Debt Fund +3.44%, HDFC Short Term Fund +4.26%. Over 3 years: HDFC Banking and PSU Debt Fund +6.75% a year, HDFC Short Term Fund +7.22% a year. Over 5 years: HDFC Banking and PSU Debt Fund +6.09% a year, HDFC Short Term Fund +6.46% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Banking and PSU Debt Fund or HDFC Short Term Fund?
HDFC Banking and PSU Debt Fund charges less: 0.35% a year against 0.39%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Banking and PSU Debt Fund and HDFC Short Term Fund overlap?
28.8%. They hold 55 of the same securities, the largest shared ones being Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited), Small Industries Development Bank, REC Limited.. From each fund's latest monthly portfolio.
Which is riskier, HDFC Banking and PSU Debt Fund or HDFC Short Term Fund?
On SEBI's riskometer, HDFC Banking and PSU Debt Fund is rated Moderate and HDFC Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.13% and 0.92% a year.
Which is better for SIP, HDFC Banking and PSU Debt Fund or HDFC Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,15,495 in HDFC Banking and PSU Debt Fund (XIRR 6.2% a year) and ₹7,24,115 in HDFC Short Term Fund (XIRR 6.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Banking and PSU Debt Fund and HDFC Short Term Fund?
Yes. 28.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Banking and PSU Debt Fund and HDFC Short Term Fund?
HDFC Banking and PSU Debt Fund: Anil Bamboli, Gopal Agrawal. HDFC Short Term Fund: Anil Bamboli, Gopal Agrawal.
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.