HDFC Conservative Hybrid Fund vs HDFC Medium to Long Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Conservative Hybrid Fund is a Conservative Hybrid fund and HDFC Medium to Long Term Fund is a Medium to Long Duration fund. In the 3 years to 30-10-2026, HDFC Conservative Hybrid Fund (Direct) returned 7.2% a year and HDFC Medium to Long Term Fund (Direct) returned 6.5% a year. HDFC Conservative Hybrid Fund charges 1.18% a year and HDFC Medium to Long Term Fund 0.80% (Direct plans). Their portfolios overlap 20.3%: they hold 19 of the same securities.
HDFC Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 7.2%
- Expense ratio
- 1.18%
- NAV
- ₹88.45
HDFC Medium to Long Term Fund
Medium to Long Duration
- 3 year return
- 6.5%
- Expense ratio
- 0.80%
- NAV
- ₹66.61
Which is better, HDFC Conservative Hybrid or HDFC Medium to Long 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 Conservative Hybrid returned more over 5 years: 7.4% a year against 5.6%.
- HDFC Conservative Hybrid returned more over 3 years: 7.2% a year against 6.5%.
- HDFC Medium to Long Term costs less: 0.80% a year against 1.18% (Direct plans).
- HDFC Medium to Long Term swung less over 3 years: a standard deviation of 2.3% a year against 3.7%.
- HDFC Medium to Long Term fell less in its worst fall since 01-01-2013: −10.6% against −12.1%.
- HDFC Conservative Hybrid is the larger fund: ₹3,108 Cr against ₹813 Cr.
- Their portfolios overlap 20.3%: 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 | HDFC Conservative Hybrid Fund | HDFC Medium to Long Term Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Conservative Hybrid | Medium to Long Duration |
| AUM | ₹3,108 Cr (30-09-2026) | ₹813 Cr (30-09-2026) |
| NAV | ₹88.45 (Direct) | ₹66.61 (Direct) |
| Expense ratio (Direct) | 1.18% | 0.80% |
| Expense ratio (Regular) | 1.70% | 1.36% |
| Riskometer | Moderately High | Moderate |
| Benchmark | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index | CRISIL Medium to Long Duration Debt A-III Index |
| Launch date | 26-12-2003 | 11-09-2000 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Anupam Joshi, Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar | Anupam Joshi, Gopal Agrawal |
| Exit load | Exit load for units in excess of 15% of the investment, 1% will be charged for redemption within 1 year | NIL |
HDFC Conservative Hybrid vs HDFC Medium to Long 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 Conservative Hybrid Fund (Direct) | −0.03% | −1.71% | +0.42% | −0.09% | +7.18% | +7.38% | +8.01% |
| HDFC Medium to Long Term Fund (Direct) | −0.76% | −1.26% | +1.76% | +2.78% | +6.53% | +5.56% | +5.65% |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
| Medium to Long Duration average | −0.59% | −0.88% | +1.83% | +2.86% | +6.52% | +5.71% | +6.19% |
Category average: the average of the 18 Conservative Hybrid funds and the 13 Medium to Long Duration funds, same plan type.
HDFC Conservative Hybrid vs HDFC Medium to Long Term: Year-wise Returns
| Year | Conservative HybridHDFC Conservative Hybrid | Medium to Long TermHDFC Medium to Long Term |
|---|---|---|
| 2026to date | −0.75% | +1.99% |
| 2025 | +6.15% | +6.14% |
| 2024 | +11.07% | +9.33% |
| 2023 | +14.48% | +7.37% |
| 2022 | +6.49% | +2.46% |
| 2021 | +13.84% | +3.22% |
HDFC Conservative Hybrid vs HDFC Medium to Long Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,620 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 Conservative Hybrid Fund (Direct)
HDFC Medium to Long Term 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 Conservative Hybrid | 0.0 | 6.6 | 36.8 | 53.0 | 3.7 | 0.0 | 0.0 | 9.9% | 10.3% | 1.7% | 17.2% |
| HDFC Medium to Long Term | 0.0 | 11.5 | 76.7 | 11.8 | 0.0 | 0.0 | 0.0 | 7.2% | 6.8% | 3.5% | 14.6% |
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. Every fund is measured over the days all of them have, from 01-01-2013. Past returns do not promise future returns.
HDFC Conservative Hybrid vs HDFC Medium to Long 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Conservative HybridHDFC Conservative Hybrid Fund (Direct) | ₹16,60,000 | ₹31,12,712 | ₹14,52,712 | 8.6% |
| HDFC Medium to Long TermHDFC Medium to Long Term Fund (Direct) | ₹16,60,000 | ₹26,20,807 | ₹9,60,807 | 6.3% |
HDFC Conservative HybridHDFC Conservative Hybrid Fund (Direct)
HDFC Medium to Long TermHDFC Medium to Long 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 Conservative Hybrid vs HDFC Medium to Long Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Conservative Hybrid Fund (Direct) | HDFC Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.09% | +2.78% |
| Standard deviation | 3.79% | 2.64% |
| Sharpe ratio | -1.41 | -0.94 |
| Sortino ratio | -1.87 | -1.28 |
| Maximum drawdown | −3.6% (30-03-2026) | −2.3% (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 Conservative Hybrid Fund (Direct) | HDFC Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.18% | +6.53% |
| Standard deviation | 3.67% | 2.27% |
| Sharpe ratio | 0.32 | 0.22 |
| Sortino ratio | 0.43 | 0.32 |
| Maximum drawdown | −3.6% (30-03-2026) | −2.3% (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 Conservative Hybrid Fund (Direct) | HDFC Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.38% | +5.56% |
| Standard deviation | 3.66% | 2.28% |
| Sharpe ratio | 0.43 | -0.10 |
| Sortino ratio | 0.58 | -0.14 |
| Maximum drawdown | −4.1% (20-06-2022) | −2.6% (17-06-2022) |
| 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 Conservative Hybrid Fund (Direct) | HDFC Medium to Long Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.12% | +6.90% |
| Standard deviation | 5.04% | 3.38% |
| Sharpe ratio | 0.61 | 0.25 |
| Sortino ratio | 0.83 | 0.35 |
| Maximum drawdown | −12.1% (23-03-2020) | −10.6% (19-08-2013) |
| 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 Conservative Hybrid Fund (Direct)
HDFC Medium to Long Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Conservative Hybrid Fund (Direct) | −12.1% | 11-02-2020 | 23-03-2020 | 13-08-2020 | 5 months | −2.2% |
| HDFC Medium to Long Term Fund (Direct) | −10.6% | 27-05-2013 | 19-08-2013 | 23-05-2014 | 9 months | −2.1% |
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 Conservative Hybrid Fund (Direct)
HDFC Medium to Long 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 Conservative Hybrid Fund (Direct)
HDFC Medium to Long 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 Conservative Hybrid Fund (Direct)
HDFC Medium to Long Term Fund (Direct)
HDFC Conservative Hybrid vs HDFC Medium to Long Term: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Conservative Hybrid Fund, September 2026; HDFC Medium to Long Term Fund, September 2026
Holdings in common
- Overlap
- 20.3%
- Held by both
- 19
- Only in HDFC Conservative Hybrid
- 90
- Only in HDFC Medium to Long Term
- 15
| Security | % of HDFC Conservative Hybrid | % of HDFC Medium to Long Term |
|---|---|---|
| 7.23% GOI MAT 150439 | 3.21% | 4.91% |
| 7.09% GOI MAT 050854 | 3.01% | 2.88% |
| 6.9% GOI MAT 150465 | 2.16% | 4.97% |
| 7.24% GOI MAT 180855 | 1.53% | 11.68% |
| Altius Telecom Infrastructure Trust | 1.72% | 1.19% |
| 7.1% GOI MAT 080434 | 1.12% | 1.08% |
| Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 1.08% | 2.94% |
| REC Limited. | 0.80% | 6.11% |
| National Bank for Agri & Rural Dev. | 0.80% | 3.05% |
| 7.62% Uttarakhand SDL ISD 170626 Mat 170635 | 0.79% | 3.03% |
| Small Industries Development Bank | 0.79% | 6.02% |
| NTPC Limited | 0.77% | 1.18% |
| NTPC Limited | 0.76% | 1.74% |
| 6.79% GOI MAT 071034 | 0.94% | 0.60% |
| Embassy Office Parks REIT | 0.70% | 0.56% |
| 7.71% GOI MAT 180566 | 0.48% | 1.85% |
| Small Industries Development Bank | 0.48% | 0.61% |
| Corporate Debt Market Development Fund | 0.33% | 0.34% |
| 6.19% GOI MAT 160934 | 0.38% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.3% means 20.3% 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 HDFC Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| 7.34% GOI MAT 220464 | 2.91% |
| Indian Railways Finance Corp. Ltd. | 2.61% |
| Floating Rate GOI 2034 | 2.48% |
| Torrent Power Ltd. | 2.40% |
| 7.3% GOI MAT 190653 | 2.32% |
Largest holdings only in HDFC Medium to Long Term Fund
| Security | % of fund |
|---|---|
| HDB Financial Services Ltd. | 4.30% |
| Indian Railways Finance Corp. Ltd. | 4.28% |
| SMFG India Credit Company Ltd | 4.27% |
| 6.64% GOI MAT 071231 | 3.17% |
| NTPC Limited | 3.13% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Conservative Hybrid | HDFC Medium to Long Term |
|---|---|---|
| Equity | 18.8% | 0.0% |
| Debt | 76.1% | 94.3% |
| Cash and others | 5.1% | 5.7% |
Market cap of stocks
| Market cap | HDFC Conservative Hybrid | HDFC Medium to Long Term |
|---|---|---|
| Large Cap | 16.3% | -- |
| Mid Cap | 1.6% | -- |
| Small Cap | 0.9% | -- |
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 Conservative Hybrid | HDFC Medium to Long Term |
|---|---|---|
| Banks | 7.5% | 0.0% |
| IT - Software | 1.6% | 0.0% |
| Pharmaceuticals & Biotechnology | 1.5% | 0.0% |
| Petroleum Products | 1.4% | 0.0% |
| Power | 1.4% | 0.0% |
| Telecom - Services | 0.9% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Conservative Hybrid vs HDFC Medium to Long Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Conservative Hybrid Fund | HDFC Medium to Long Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.18% | 0.80% |
| Base expense ratio (Direct) | 1.00% | 0.68% |
| Total expense ratio (Regular) | 1.70% | 1.36% |
| Base expense ratio (Regular) | 1.44% | 1.17% |
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 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 Conservative Hybrid Fund vs HDFC Medium to Long Term Fund: Frequently Asked Questions
What is the difference between HDFC Conservative Hybrid Fund and HDFC Medium to Long Term Fund?
HDFC Conservative Hybrid Fund is a Conservative Hybrid fund, HDFC Medium to Long Term Fund is a Medium to Long Duration fund, run by HDFC Mutual Fund. Their portfolios overlap 20.3%. HDFC Conservative Hybrid Fund charges 1.18% a year and HDFC Medium to Long Term Fund 0.80%.
Which has given higher returns, HDFC Conservative Hybrid Fund or HDFC Medium to Long Term Fund?
Over 1 year: HDFC Conservative Hybrid Fund −0.09%, HDFC Medium to Long Term Fund +2.78%. Over 3 years: HDFC Conservative Hybrid Fund +7.18% a year, HDFC Medium to Long Term Fund +6.53% a year. Over 5 years: HDFC Conservative Hybrid Fund +7.38% a year, HDFC Medium to Long Term Fund +5.56% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Conservative Hybrid Fund or HDFC Medium to Long Term Fund?
HDFC Medium to Long Term Fund charges less: 0.80% a year against 1.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Conservative Hybrid Fund and HDFC Medium to Long Term Fund overlap?
20.3%. They hold 19 of the same securities, the largest shared ones being 7.23% GOI MAT 150439, 7.09% GOI MAT 050854, 6.9% GOI MAT 150465. From each fund's latest monthly portfolio.
Which is riskier, HDFC Conservative Hybrid Fund or HDFC Medium to Long Term Fund?
On SEBI's riskometer, HDFC Conservative Hybrid Fund is rated Moderately High and HDFC Medium to Long Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 3.67% and 2.27% a year.
Which is better for SIP, HDFC Conservative Hybrid Fund or HDFC Medium to Long Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,18,270 in HDFC Conservative Hybrid Fund (XIRR 6.4% a year) and ₹7,04,505 in HDFC Medium to Long Term Fund (XIRR 5.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Conservative Hybrid Fund and HDFC Medium to Long Term Fund?
Yes. 20.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Conservative Hybrid Fund and HDFC Medium to Long Term Fund?
HDFC Conservative Hybrid Fund: Anupam Joshi, Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar. HDFC Medium to Long Term Fund: Anupam Joshi, 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.