HDFC BSE 500 Index Fund vs Unifi Dynamic Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC BSE 500 Index Fund is an Index fund and Unifi Dynamic Asset Allocation Fund is a Balanced Advantage fund. In the year to 30-10-2026, HDFC BSE 500 Index Fund (Direct) returned −8.0% and Unifi Dynamic Asset Allocation Fund (Direct) returned 8.4%. HDFC BSE 500 Index Fund charges 0.35% a year and Unifi Dynamic Asset Allocation Fund 1.40% (Direct plans). Their portfolios overlap 28.2%: they hold 102 of the same securities.
HDFC BSE 500 Index Fund
Index
- 1 year return
- −8.0%
- Expense ratio
- 0.35%
- NAV
- ₹14.81
Unifi Dynamic Asset Allocation Fund
Balanced Advantage
- 1 year return
- 8.4%
- Expense ratio
- 1.40%
- NAV
- ₹11.39
Which is better, HDFC BSE 500 Index or Unifi Dynamic Asset Allocation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Unifi Dynamic Asset Allocation returned more over 1 year: 8.4% against −8.0%.
- HDFC BSE 500 Index costs less: 0.35% a year against 1.40% (Direct plans).
- Unifi Dynamic Asset Allocation fell less in its worst fall since 17-03-2025: −0.2% against −14.8%.
- HDFC BSE 500 Index holds more in large companies: 67.0% of the fund in large caps against 28.6%.
- Unifi Dynamic Asset Allocation is the larger fund: ₹1,478 Cr against ₹313 Cr.
- Their portfolios overlap 28.2%: 102 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 BSE 500 Index Fund | Unifi Dynamic Asset Allocation Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Unifi Mutual Fund |
| Category | Index | Balanced Advantage |
| AUM | ₹313 Cr (30-09-2026) | ₹1,478 Cr (30-09-2026) |
| NAV | ₹14.81 (Direct) | ₹11.39 (Direct) |
| Expense ratio (Direct) | 0.35% | 1.40% |
| Expense ratio (Regular) | 0.84% | 1.99% |
| Riskometer | Very High | Moderately High |
| Benchmark | BSE 500 TRI | CRISIL Hybrid 50+50 - Moderate Index |
| Launch date | 21-04-2023 | 11-07-2025 |
| Minimum investment | ₹100 | Not available |
| Lock in | None | None |
| Fund managers | Nandita Menezes, Arun Agarwal | Saravanan VN, Ramanathan P, Karthik Srinivas |
| Exit load | NIL | Exit Load for units in excess of 20% of the investment,1.5% will be charged for redemption within 12 months. |
HDFC BSE 500 Index vs Unifi Dynamic Asset Allocation: 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 BSE 500 Index Fund (Direct) | −0.90% | −6.15% | −3.10% | −7.96% | +9.29% | -- | -- |
| Unifi Dynamic Asset Allocation Fund (Direct) | +0.51% | +1.98% | +4.46% | +8.40% | -- | -- | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | -- | -- | -- |
Category average: the average of the 38 Balanced Advantage funds, same plan type.
HDFC BSE 500 Index vs Unifi Dynamic Asset Allocation: Year-wise Returns
| Year | HDFC BSE 500 IndexHDFC BSE 500 Index | Unifi Dynamic Asset AllocationUnifi Dynamic Asset Allocation |
|---|---|---|
| 2026to date | −8.06% | +6.90% |
| 2025 | +7.17% | -- |
| 2024 | +14.95% | -- |
HDFC BSE 500 Index vs Unifi Dynamic Asset Allocation: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of HDFC BSE 500 Index Fund
Rolling returns
Every 1-year holding period, 153 of them, one for each trading day from 17-03-2026 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.
HDFC BSE 500 Index Fund (Direct)
Unifi Dynamic Asset Allocation Fund (Direct)
BSE 500 TRI
to
Apr 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC BSE 500 Index | 48.4 | 40.5 | 11.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.3% | 0.1% | −9.5% | 10.0% | 0% |
| Unifi Dynamic Asset Allocation | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.0% | 8.0% | 7.1% | 8.8% | 98% |
| BSE 500 TRI | 43.8 | 41.8 | 13.7 | 0.7 | 0.0 | 0.0 | 0.0 | 0.7% | 0.5% | −9.2% | 10.4% | -- |
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. The benchmark is BSE 500 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 17-03-2025. Past returns do not promise future returns.
HDFC BSE 500 Index vs Unifi Dynamic Asset Allocation: 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 03-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC BSE 500 IndexHDFC BSE 500 Index Fund (Direct) | ₹2,00,000 | ₹1,94,287 | −₹5,713 | −3.3% |
| Unifi Dynamic Asset AllocationUnifi Dynamic Asset Allocation Fund (Direct) | ₹2,00,000 | ₹2,14,464 | ₹14,464 | 8.3% |
HDFC BSE 500 IndexHDFC BSE 500 Index Fund (Direct)
Unifi Dynamic Asset AllocationUnifi Dynamic Asset Allocation 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 BSE 500 Index vs Unifi Dynamic Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC BSE 500 Index Fund (Direct) | Unifi Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.96% | +8.40% |
| Standard deviation | 14.18% | 0.91% |
| Sharpe ratio | -0.93 | 3.45 |
| Sortino ratio | -1.23 | 6.05 |
| Maximum drawdown | −14.8% (31-03-2026) | −0.2% (15-09-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.34% | -- |
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 BSE 500 Index Fund (Direct) | Unifi Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.82% | +8.36% |
| Standard deviation | 13.39% | 0.83% |
| Sharpe ratio | 0.42 | 3.53 |
| Sortino ratio | 0.57 | 6.35 |
| Maximum drawdown | −18.8% (28-02-2025) | −0.2% (15-09-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.58% | -- |
From daily NAVs, 21-04-2023 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.
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 BSE 500 Index Fund (Direct)
Unifi Dynamic Asset Allocation Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC BSE 500 Index Fund (Direct) | −14.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −8.9% |
| Unifi Dynamic Asset Allocation Fund (Direct) | −0.2% | 10-09-2026 | 15-09-2026 | 18-09-2026 | 3 days | 0.0% |
| BSE 500 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.7% |
From daily values since 17-03-2025, 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.
HDFC BSE 500 Index Fund (Direct)
Unifi Dynamic Asset Allocation Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC BSE 500 Index Fund (Direct) | 99% | 101% | 0.04% |
| Unifi Dynamic Asset Allocation Fund (Direct) | 24% | -19% | 15.10% |
From month-end values since 17-03-2025. 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.
HDFC BSE 500 Index vs Unifi Dynamic Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC BSE 500 Index Fund, September 2026; Unifi Dynamic Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 28.2%
- Held by both
- 102
- Only in HDFC BSE 500 Index
- 398
- Only in Unifi Dynamic Asset Allocation
- 41
| Security | % of HDFC BSE 500 Index | % of Unifi Dynamic Asset Allocation |
|---|---|---|
| HDFC Bank Ltd. | 5.72% | 3.22% |
| State Bank of India | 2.11% | 1.85% |
| Axis Bank Ltd. | 1.86% | 1.73% |
| Bajaj Finance Ltd. | 1.36% | 1.22% |
| Bharti Airtel Ltd. | 2.90% | 1.19% |
| ITC LIMITED | 1.34% | 1.14% |
| Tata Consultancy Services Ltd. | 1.10% | 1.24% |
| Reliance Industries Ltd. | 4.16% | 1.05% |
| ICICI Bank Ltd. | 5.02% | 0.96% |
| Tata Steel Ltd. | 0.80% | 1.02% |
| Hindustan Unilever Ltd. | 0.89% | 0.78% |
| Hindalco Industries Ltd. | 0.72% | 0.97% |
| Mahindra & Mahindra Ltd. | 1.39% | 0.64% |
| ADANI ENTERPRISES LIMTIED | 0.52% | 1.04% |
| Kotak Mahindra Bank Limited | 1.62% | 0.51% |
| JSW Steel Ltd. | 0.63% | 0.42% |
| Jio Financial Services Limited | 0.38% | 1.04% |
| Maruti Suzuki India Limited | 0.81% | 0.36% |
| Titan Company Ltd. | 0.99% | 0.36% |
| Cummins India Ltd. | 0.34% | 0.52% |
| SBI Life Insurance Company Ltd. | 0.40% | 0.32% |
| Tata Motors Passenger Vehicles Limited | 0.32% | 0.39% |
| Tata Consumer Products Limited | 0.32% | 0.45% |
| Torrent Pharmaceuticals Ltd. | 0.30% | 0.30% |
| HDFC Life Insurance Company Limited | 0.29% | 0.70% |
| Indus Towers Limited | 0.26% | 0.55% |
| The Tata Power Company Ltd. | 0.32% | 0.25% |
| Coal India Ltd. | 0.54% | 0.24% |
| HDFC Asset Management Company Ltd. | 0.24% | 0.51% |
| Cipla Ltd. | 0.40% | 0.24% |
| Bank of Baroda | 0.23% | 0.37% |
| Ashok Leyland Ltd | 0.23% | 0.42% |
| Power Finance Corporation Ltd. | 0.25% | 0.23% |
| The Federal Bank Ltd. | 0.42% | 0.23% |
| Aurobindo Pharma Ltd. | 0.24% | 0.22% |
| InterGlobe Aviation Ltd. | 0.59% | 0.22% |
| Divis Laboratories Ltd. | 0.63% | 0.22% |
| Yes Bank Ltd. | 0.19% | 0.64% |
| Indian Hotels Company Ltd. | 0.34% | 0.19% |
| Hindustan Aeronautics Limited | 0.46% | 0.18% |
| Glenmark Pharmaceuticals Ltd. | 0.18% | 0.37% |
| Au Small Finance Bank Ltd. | 0.30% | 0.18% |
| Adani Energy Solutions Limited | 0.21% | 0.17% |
| UltraTech Cement Limited | 0.68% | 0.16% |
| Tech Mahindra Ltd. | 0.52% | 0.16% |
| IDFC First Bank Limited | 0.29% | 0.16% |
| Adani Ports & Special Economic Zone | 0.74% | 0.16% |
| NTPC Limited | 0.81% | 0.14% |
| Steel Authority Of India Ltd. | 0.14% | 0.28% |
| Larsen and Toubro Ltd. | 2.32% | 0.14% |
| Varun Beverages Ltd | 0.31% | 0.12% |
| Ambuja Cements Ltd. | 0.12% | 0.19% |
| Bharat Forge Ltd. | 0.27% | 0.12% |
| GE Vernova T&D India Limited | 0.27% | 0.11% |
| Lupin Ltd. | 0.26% | 0.11% |
| Multi Commodity Exchange of India L | 0.44% | 0.10% |
| Bandhan Bank Ltd. | 0.09% | 0.22% |
| Life Insurance Corporation of India | 0.29% | 0.09% |
| Apollo Hospitals Enterprise Ltd. | 0.44% | 0.09% |
| DLF LIMITED | 0.23% | 0.09% |
| Bharat Electronics Ltd. | 0.74% | 0.08% |
| LIC Housing Finance Ltd. | 0.08% | 0.39% |
| National Aluminium Co. Ltd. | 0.16% | 0.08% |
| Muthoot Finance Ltd. | 0.16% | 0.08% |
| Crompton Greaves Consumer Elec. Ltd. | 0.07% | 0.32% |
| Godrej Properties Ltd. | 0.11% | 0.07% |
| Jindal Steel Limited. | 0.22% | 0.07% |
| Eicher Motors Ltd. | 0.52% | 0.06% |
| Hindustan Zinc Ltd. | 0.14% | 0.06% |
| Bharat Heavy Electricals Ltd. | 0.32% | 0.05% |
| Astral Limited | 0.09% | 0.05% |
| Suzlon Energy Ltd | 0.25% | 0.05% |
| Canara Bank | 0.21% | 0.05% |
| Bajaj Finserv Ltd. | 0.51% | 0.05% |
| United Spirits Limited | 0.21% | 0.04% |
| INOX Wind Limited | 0.04% | 0.08% |
| Colgate-Palmolive ( I ) Ltd. | 0.12% | 0.04% |
| UPL Ltd. | 0.16% | 0.03% |
| NMDC Limited | 0.14% | 0.03% |
| GMR Airports Limited | 0.18% | 0.03% |
| Max Financial Services Ltd. | 0.19% | 0.03% |
| Indian Oil Corporation Ltd. | 0.26% | 0.03% |
| Solar Industries India Ltd. | 0.25% | 0.03% |
| Nestle India Ltd. | 0.49% | 0.02% |
| APL Apollo Tubes Ltd. | 0.23% | 0.02% |
| JSW Energy Ltd. | 0.16% | 0.02% |
| Tube Investments of India Ltd. | 0.13% | 0.02% |
| NBCC (India) Limited | 0.04% | 0.01% |
| Power Grid Corporation of India Ltd. | 0.63% | 0.01% |
| Shriram Finance Ltd. | 0.72% | 0.01% |
| Hindustan Petroleum Corp. Ltd. | 0.18% | 0.01% |
| PG Electroplast Limited | 0.04% | 0.01% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.37% | 0.01% |
| Punjab National Bank | 0.21% | 0.01% |
| Adani Green Energy Limited | 0.22% | 0.01% |
| INFO EDGE (INDIA) LIMITED | 0.25% | 0.00% |
| Britannia Industries Ltd. | 0.30% | 0.00% |
| Bank of Maharashtra | 0.08% | 0.00% |
| SRF Ltd. | 0.19% | 0.00% |
| Dabur India Ltd. | 0.12% | 0.00% |
| Voltas Ltd. | 0.13% | 0.00% |
| Patanjali Foods Limited | 0.07% | 0.00% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.2% means 28.2% 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 BSE 500 Index Fund
| Security | % of fund |
|---|---|
| Infosys Limited | 1.86% |
| Eternal Limited | 1.22% |
| Sun Pharmaceutical Industries Ltd. | 1.04% |
| HCL Technologies Ltd. | 0.69% |
| Grasim Industries Ltd. | 0.61% |
Largest holdings only in Unifi Dynamic Asset Allocation Fund
| Security | % of fund |
|---|---|
| 9.45% Vedanta Limited 05-JUN-2028 | 4.11% |
| 9.75% Shrem Infra Invest Pvt Limited 15-MAY-2028 | 3.79% |
| 7.06% GOI - 10-Apr-2028 | 3.76% |
| 5.00% GMR Airports Limited 13-AUG-2028 | 3.26% |
| JSW Kalinga Steel Limited 23-MAR-2029 | 2.82% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC BSE 500 Index | Unifi Dynamic Asset Allocation |
|---|---|---|
| Equity | 99.8% | 36.1% |
| Debt | 0.0% | 52.0% |
| Cash and others | 0.2% | 11.9% |
Market cap of stocks
| Market cap | HDFC BSE 500 Index | Unifi Dynamic Asset Allocation |
|---|---|---|
| Large Cap | 67.0% | 28.6% |
| Mid Cap | 21.5% | 3.6% |
| Small Cap | 11.3% | 3.7% |
| Not on AMFI's list | 0.0% | 0.2% |
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 | HDFC BSE 500 Index | Unifi Dynamic Asset Allocation |
|---|---|---|
| Banks | 19.4% | 10.1% |
| Finance | 6.4% | 3.0% |
| Pharmaceuticals & Biotechnology | 5.8% | 1.5% |
| IT - Software | 5.8% | 1.4% |
| Petroleum Products | 5.0% | 1.1% |
| Automobiles | 4.9% | 1.4% |
| Telecom - Services | 3.6% | 1.7% |
| Diversified FMCG | 2.2% | 1.9% |
| Ferrous Metals | 1.9% | 1.8% |
| Chemicals & Petrochemicals | 1.5% | 1.6% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC BSE 500 Index vs Unifi Dynamic Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC BSE 500 Index Fund | Unifi Dynamic Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.35% | 1.40% |
| Base expense ratio (Direct) | 0.24% | 0.79% |
| Total expense ratio (Regular) | 0.84% | 1.99% |
| Base expense ratio (Regular) | 0.65% | 1.29% |
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.
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HDFC BSE 500 Index Fund vs Unifi Dynamic Asset Allocation Fund: Frequently Asked Questions
What is the difference between HDFC BSE 500 Index Fund and Unifi Dynamic Asset Allocation Fund?
HDFC BSE 500 Index Fund is an Index fund, Unifi Dynamic Asset Allocation Fund is a Balanced Advantage fund, run by HDFC Mutual Fund and Unifi Mutual Fund. Their portfolios overlap 28.2%. HDFC BSE 500 Index Fund charges 0.35% a year and Unifi Dynamic Asset Allocation Fund 1.40%.
Which has given higher returns, HDFC BSE 500 Index Fund or Unifi Dynamic Asset Allocation Fund?
Over 1 year: HDFC BSE 500 Index Fund −7.96%, Unifi Dynamic Asset Allocation Fund +8.40%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC BSE 500 Index Fund or Unifi Dynamic Asset Allocation Fund?
HDFC BSE 500 Index Fund charges less: 0.35% a year against 1.40%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC BSE 500 Index Fund and Unifi Dynamic Asset Allocation Fund overlap?
28.2%. They hold 102 of the same securities, the largest shared ones being HDFCBANK, SBIN, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC BSE 500 Index Fund or Unifi Dynamic Asset Allocation Fund?
On SEBI's riskometer, HDFC BSE 500 Index Fund is rated Very High and Unifi Dynamic Asset Allocation Fund Moderately High. Over 1 years, the standard deviation of daily returns was 14.18% and 0.91% a year.
Can I invest in both HDFC BSE 500 Index Fund and Unifi Dynamic Asset Allocation Fund?
Yes. 28.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC BSE 500 Index Fund and Unifi Dynamic Asset Allocation Fund?
HDFC BSE 500 Index Fund: Nandita Menezes, Arun Agarwal. Unifi Dynamic Asset Allocation Fund: Saravanan VN, Ramanathan P, Karthik Srinivas.
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.