HDFC Conservative Hybrid Fund vs ICICI Prudential Balanced Advantage Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Conservative Hybrid Fund is a Conservative Hybrid fund and ICICI Prudential Balanced Advantage Fund is a Balanced Advantage fund. In the 3 years to 30-10-2026, HDFC Conservative Hybrid Fund (Direct) returned 7.2% a year and ICICI Prudential Balanced Advantage Fund (Direct) returned 10.6% a year. HDFC Conservative Hybrid Fund charges 1.18% a year and ICICI Prudential Balanced Advantage Fund 1.03% (Direct plans). Their portfolios overlap 18.7%: they hold 29 of the same securities.
HDFC Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 7.2%
- Expense ratio
- 1.18%
- NAV
- ₹88.45
ICICI Prudential Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 10.6%
- Expense ratio
- 1.03%
- NAV
- ₹85.81
Which is better, HDFC Conservative Hybrid or ICICI Prudential Balanced Advantage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Balanced Advantage returned more over 5 years: 9.9% a year against 7.4%.
- ICICI Prudential Balanced Advantage returned more over 3 years: 10.6% a year against 7.2%.
- ICICI Prudential Balanced Advantage costs less: 1.03% a year against 1.18% (Direct plans).
- HDFC Conservative Hybrid swung less over 3 years: a standard deviation of 3.7% a year against 7.1%.
- HDFC Conservative Hybrid fell less in its worst fall since 02-01-2013: −12.1% against −27.0%.
- ICICI Prudential Balanced Advantage holds more in large companies: 60.8% of the fund in large caps against 16.3%.
- ICICI Prudential Balanced Advantage is the larger fund: ₹71,913 Cr against ₹3,108 Cr.
- Their portfolios overlap 18.7%: 29 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 | ICICI Prudential Balanced Advantage Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Conservative Hybrid | Balanced Advantage |
| AUM | ₹3,108 Cr (30-09-2026) | ₹71,913 Cr (30-09-2026) |
| NAV | ₹88.45 (Direct) | ₹85.81 (Direct) |
| Expense ratio (Direct) | 1.18% | 1.03% |
| Expense ratio (Regular) | 1.70% | 1.56% |
| Riskometer | Moderately High | Not available |
| Benchmark | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index | CRISIL Hybrid 50+50 - Moderate Index |
| Launch date | 26-12-2003 | 30-12-2006 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Anupam Joshi, Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar | Rajat Chandak, Manish Banthia, Akhil Kakkar, Sri Sharma, Sharmila D'silva |
| Exit load | Exit load for units in excess of 15% of the investment, 1% will be charged for redemption within 1 year | • NIL - If units purchased or switched in from another scheme of the Fund are redeemed or switched out upto 30% of the units (the limit) purchased or switched within 1 year from the date of allotment. • 1% of the applicable NAV - If units purchased or switched in from another scheme of the Fund are redeemed or switched out in excess of the limit within 1 year from the date of allotment. • NIL - If units purchased or switched in from another scheme of the Fund are redeemed or switched out after 1 year from the date of allotment. |
HDFC Conservative Hybrid vs ICICI Prudential Balanced Advantage: 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% |
| ICICI Prudential Balanced Advantage Fund (Direct) | +0.15% | −3.08% | +1.18% | +0.30% | +10.55% | +9.90% | +10.97% |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | +9.91% |
Category average: the average of the 18 Conservative Hybrid funds and the 38 Balanced Advantage funds, same plan type.
HDFC Conservative Hybrid vs ICICI Prudential Balanced Advantage: Year-wise Returns
| Year | HDFC Conservative HybridHDFC Conservative Hybrid | ICICI Prudential Balanced AdvantageICICI Prudential Balanced Advantage |
|---|---|---|
| 2026to date | −0.75% | −1.16% |
| 2025 | +6.15% | +12.87% |
| 2024 | +11.07% | +12.98% |
| 2023 | +14.48% | +17.24% |
| 2022 | +6.49% | +8.62% |
| 2021 | +13.84% | +15.86% |
HDFC Conservative Hybrid vs ICICI Prudential Balanced Advantage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,619 of them, one for each trading day from 04-01-2016 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)
ICICI Prudential Balanced Advantage 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% |
| ICICI Prudential Balanced Advantage | 0.1 | 2.3 | 10.4 | 69.3 | 16.3 | 1.7 | 0.0 | 12.8% | 12.8% | −1.2% | 23.6% |
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 02-01-2013. Past returns do not promise future returns.
HDFC Conservative Hybrid vs ICICI Prudential Balanced Advantage: 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% |
| ICICI Prudential Balanced AdvantageICICI Prudential Balanced Advantage Fund (Direct) | ₹16,60,000 | ₹38,96,154 | ₹22,36,154 | 11.5% |
HDFC Conservative HybridHDFC Conservative Hybrid Fund (Direct)
ICICI Prudential Balanced AdvantageICICI Prudential Balanced Advantage 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 ICICI Prudential Balanced Advantage: 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) | ICICI Prudential Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.09% | +0.30% |
| Standard deviation | 3.79% | 9.21% |
| Sharpe ratio | -1.41 | -0.54 |
| Sortino ratio | -1.87 | -0.74 |
| Maximum drawdown | −3.6% (30-03-2026) | −8.2% (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 Conservative Hybrid Fund (Direct) | ICICI Prudential Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.18% | +10.55% |
| Standard deviation | 3.67% | 7.14% |
| Sharpe ratio | 0.32 | 0.63 |
| Sortino ratio | 0.43 | 0.90 |
| Maximum drawdown | −3.6% (30-03-2026) | −8.2% (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 Conservative Hybrid Fund (Direct) | ICICI Prudential Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.38% | +9.90% |
| Standard deviation | 3.66% | 6.46% |
| Sharpe ratio | 0.43 | 0.63 |
| Sortino ratio | 0.58 | 0.89 |
| Maximum drawdown | −4.1% (20-06-2022) | −8.2% (30-03-2026) |
| 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) | ICICI Prudential Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.12% | +12.24% |
| Standard deviation | 5.04% | 8.87% |
| Sharpe ratio | 0.61 | 0.70 |
| Sortino ratio | 0.83 | 0.95 |
| Maximum drawdown | −12.1% (23-03-2020) | −27.0% (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 Conservative Hybrid Fund (Direct)
ICICI Prudential Balanced Advantage 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% |
| ICICI Prudential Balanced Advantage Fund (Direct) | −27.0% | 12-02-2020 | 23-03-2020 | 26-08-2020 | 5 months | −4.9% |
From daily values since 02-01-2013, 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)
ICICI Prudential Balanced Advantage 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)
ICICI Prudential Balanced Advantage 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)
ICICI Prudential Balanced Advantage Fund (Direct)
HDFC Conservative Hybrid vs ICICI Prudential Balanced Advantage: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Conservative Hybrid Fund, September 2026; ICICI Prudential Balanced Advantage Fund, September 2026
Holdings in common
- Overlap
- 18.7%
- Held by both
- 29
- Only in HDFC Conservative Hybrid
- 80
- Only in ICICI Prudential Balanced Advantage
- 179
| Security | % of HDFC Conservative Hybrid | % of ICICI Prudential Balanced Advantage |
|---|---|---|
| ICICI Bank Ltd. | 2.13% | 4.15% |
| HDFC Bank Ltd. | 1.60% | 3.41% |
| State Bank of India | 1.39% | 1.97% |
| Axis Bank Ltd. | 1.29% | 2.04% |
| 6.9% GOI MAT 150465 | 2.16% | 1.09% |
| Reliance Industries Ltd. | 0.95% | 2.54% |
| Larsen and Toubro Ltd. | 0.85% | 1.86% |
| Floating Rate GOI 2034 | 2.48% | 0.81% |
| Kotak Mahindra Bank Limited | 0.81% | 1.57% |
| 7.24% GOI MAT 180855 | 1.53% | 0.77% |
| Sun Pharmaceutical Industries Ltd. | 0.73% | 0.77% |
| Embassy Office Parks REIT | 0.70% | 2.80% |
| Muthoot Finance Ltd. | 0.80% | 0.70% |
| Bharti Airtel Ltd. | 0.68% | 1.91% |
| NTPC Limited | 0.62% | 0.92% |
| Infosys Limited | 0.52% | 2.27% |
| HCL Technologies Ltd. | 0.47% | 1.08% |
| Tata Consultancy Services Ltd. | 0.56% | 0.43% |
| SBI Life Insurance Company Ltd. | 0.41% | 0.71% |
| Cipla Ltd. | 0.35% | 0.38% |
| Bharat Petroleum Corporation Ltd. | 0.24% | 0.32% |
| Hindustan Unilever Ltd. | 0.42% | 0.24% |
| Indus Towers Limited | 0.24% | 0.23% |
| Hindustan Petroleum Corp. Ltd. | 0.23% | 0.29% |
| National Bank for Agri & Rural Dev. | 0.80% | 0.14% |
| NHPC Ltd. | 0.28% | 0.08% |
| Indus Infra Trust | 0.11% | 0.07% |
| Power Finance Corporation Ltd. | 1.59% | 0.07% |
| Torrent Power Ltd. | 2.40% | 0.06% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.7% means 18.7% 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 |
|---|---|
| 7.23% GOI MAT 150439 | 3.21% |
| 7.09% GOI MAT 050854 | 3.01% |
| 7.34% GOI MAT 220464 | 2.91% |
| Indian Railways Finance Corp. Ltd. | 2.61% |
| 7.3% GOI MAT 190653 | 2.32% |
Largest holdings only in ICICI Prudential Balanced Advantage Fund
| Security | % of fund |
|---|---|
| TVS Motor Company Ltd. | 6.31% |
| Government Securities | 2.71% |
| Eternal Ltd. | 2.18% |
| Maruti Suzuki India Ltd. | 1.79% |
| Avenue Supermarts Ltd. | 1.58% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Conservative Hybrid | ICICI Prudential Balanced Advantage |
|---|---|---|
| Equity | 18.8% | 71.0% |
| Debt | 76.1% | 21.2% |
| Cash and others | 5.1% | 7.8% |
Market cap of stocks
| Market cap | HDFC Conservative Hybrid | ICICI Prudential Balanced Advantage |
|---|---|---|
| Large Cap | 16.3% | 60.8% |
| Mid Cap | 1.6% | 6.8% |
| Small Cap | 0.9% | 3.1% |
| 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 Conservative Hybrid | ICICI Prudential Balanced Advantage |
|---|---|---|
| Banks | 7.5% | 13.4% |
| Automobiles | 0.7% | 9.5% |
| Retailing | 0.0% | 5.9% |
| It - Software | 0.0% | 4.6% |
| Finance | 0.4% | 3.2% |
| Petroleum Products | 1.4% | 3.1% |
| Pharmaceuticals & Biotechnology | 1.5% | 2.3% |
| Telecom - Services | 0.9% | 2.1% |
| IT - Software | 1.6% | 0.0% |
| Power | 1.4% | 1.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Conservative Hybrid vs ICICI Prudential Balanced Advantage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Conservative Hybrid Fund | ICICI Prudential Balanced Advantage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.18% | 1.03% |
| Base expense ratio (Direct) | 1.00% | 0.71% |
| Total expense ratio (Regular) | 1.70% | 1.56% |
| Base expense ratio (Regular) | 1.44% | 1.15% |
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
- HDFC Conservative Hybrid vs Parag Parikh Conservative Hybrid
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- HDFC Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- HDFC Conservative Hybrid vs Nippon India Conservative Hybrid
- HDFC Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
Compare ICICI Prudential Balanced Advantage with
- ICICI Prudential Balanced Advantage vs quant Dynamic Asset Allocation
- ICICI Prudential Balanced Advantage vs Aditya Birla Sun Life Balanced Advantage
- ICICI Prudential Balanced Advantage vs Baroda BNP Paribas Balanced Advantage
- ICICI Prudential Balanced Advantage vs Axis Balanced Advantage
- ICICI Prudential Balanced Advantage vs WhiteOak Capital Balanced Advantage
HDFC Conservative Hybrid Fund vs ICICI Prudential Balanced Advantage Fund: Frequently Asked Questions
What is the difference between HDFC Conservative Hybrid Fund and ICICI Prudential Balanced Advantage Fund?
HDFC Conservative Hybrid Fund is a Conservative Hybrid fund, ICICI Prudential Balanced Advantage Fund is a Balanced Advantage fund, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 18.7%. HDFC Conservative Hybrid Fund charges 1.18% a year and ICICI Prudential Balanced Advantage Fund 1.03%.
Which has given higher returns, HDFC Conservative Hybrid Fund or ICICI Prudential Balanced Advantage Fund?
Over 1 year: HDFC Conservative Hybrid Fund −0.09%, ICICI Prudential Balanced Advantage Fund +0.30%. Over 3 years: HDFC Conservative Hybrid Fund +7.18% a year, ICICI Prudential Balanced Advantage Fund +10.55% a year. Over 5 years: HDFC Conservative Hybrid Fund +7.38% a year, ICICI Prudential Balanced Advantage Fund +9.90% 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 ICICI Prudential Balanced Advantage Fund?
ICICI Prudential Balanced Advantage Fund charges less: 1.03% a year against 1.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Conservative Hybrid Fund and ICICI Prudential Balanced Advantage Fund overlap?
18.7%. They hold 29 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, SBIN. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC Conservative Hybrid Fund or ICICI Prudential Balanced Advantage 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 ₹7,71,458 in ICICI Prudential Balanced Advantage Fund (XIRR 9.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Conservative Hybrid Fund and ICICI Prudential Balanced Advantage Fund?
Yes. 18.7% 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 ICICI Prudential Balanced Advantage Fund?
HDFC Conservative Hybrid Fund: Anupam Joshi, Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar. ICICI Prudential Balanced Advantage Fund: Rajat Chandak, Manish Banthia, Akhil Kakkar, Sri Sharma, Sharmila D'silva.
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.