HDFC Corporate Bond Fund vs HDFC Floating Interest Rates Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Corporate Bond Fund is a Corporate Bond fund and HDFC Floating Interest Rates Fund is a Floater fund. In the 3 years to 30-10-2026, HDFC Corporate Bond Fund (Direct) returned 6.6% a year and HDFC Floating Interest Rates Fund (Direct) returned 7.3% a year. HDFC Corporate Bond Fund charges 0.38% a year and HDFC Floating Interest Rates Fund 0.27% (Direct plans). Their portfolios overlap 16.0%: they hold 40 of the same securities.
HDFC Corporate Bond Fund
Corporate Bond
- 3 year return
- 6.6%
- Expense ratio
- 0.38%
- NAV
- ₹34.93
HDFC Floating Interest Rates Fund
Floater
- 3 year return
- 7.3%
- Expense ratio
- 0.27%
- NAV
- ₹54.90
Which is better, HDFC Corporate Bond or HDFC Floating Interest Rates? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Floating Interest Rates returned more over 5 years: 6.8% a year against 6.0%.
- HDFC Floating Interest Rates returned more over 3 years: 7.3% a year against 6.6%.
- HDFC Floating Interest Rates costs less: 0.27% a year against 0.38% (Direct plans).
- HDFC Floating Interest Rates swung less over 3 years: a standard deviation of 0.7% a year against 1.3%.
- HDFC Floating Interest Rates fell less in its worst fall since 01-01-2013: −1.3% against −4.0%.
- HDFC Corporate Bond is the larger fund: ₹29,479 Cr against ₹15,659 Cr.
- Their portfolios overlap 16.0%: 40 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 Corporate Bond Fund | HDFC Floating Interest Rates Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Corporate Bond | Floater |
| AUM | ₹29,479 Cr (30-09-2026) | ₹15,659 Cr (30-09-2026) |
| NAV | ₹34.93 (Direct) | ₹54.90 (Direct) |
| Expense ratio (Direct) | 0.38% | 0.27% |
| Expense ratio (Regular) | 0.63% | 0.50% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Corporate Bond Index A-II | CRISIL Short Duration Debt A-II Index |
| Launch date | 29-06-2010 | 16-01-2003 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Anupam Joshi, Gopal Agrawal | Anil Bamboli, Gopal Agrawal |
| Exit load | NIL | NIL |
HDFC Corporate Bond vs HDFC Floating Interest Rates: 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 Corporate Bond Fund (Direct) | −0.60% | −0.87% | +1.72% | +2.83% | +6.60% | +6.02% | +7.06% |
| HDFC Floating Interest Rates Fund (Direct) | 0.00% | +0.53% | +2.57% | +5.17% | +7.35% | +6.78% | +7.16% |
| Corporate Bond average | −0.24% | +0.05% | +2.31% | +4.00% | +7.02% | +6.20% | +6.98% |
| Floater average | −0.01% | +0.56% | +2.76% | +5.43% | +7.47% | +6.73% | +7.16% |
Category average: the average of the 21 Corporate Bond funds and the 12 Floater funds, same plan type.
HDFC Corporate Bond vs HDFC Floating Interest Rates: Year-wise Returns
| Year | Corporate BondHDFC Corporate Bond | Floating Interest RatesHDFC Floating Interest Rates |
|---|---|---|
| 2026to date | +2.14% | +4.17% |
| 2025 | +7.60% | +8.13% |
| 2024 | +8.82% | +8.54% |
| 2023 | +7.49% | +7.87% |
| 2022 | +3.56% | +4.83% |
| 2021 | +4.22% | +4.36% |
HDFC Corporate Bond vs HDFC Floating Interest Rates: 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 Corporate Bond Fund (Direct)
HDFC Floating Interest Rates 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 Corporate Bond | 0.0 | 0.0 | 94.3 | 5.7 | 0.0 | 0.0 | 0.0 | 8.0% | 8.1% | 5.0% | 11.2% |
| HDFC Floating Interest Rates | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.9% | 5.7% | 9.6% |
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 Corporate Bond vs HDFC Floating Interest Rates: 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 Corporate BondHDFC Corporate Bond Fund (Direct) | ₹16,60,000 | ₹27,92,888 | ₹11,32,888 | 7.2% |
| HDFC Floating Interest RatesHDFC Floating Interest Rates Fund (Direct) | ₹16,60,000 | ₹28,17,225 | ₹11,57,225 | 7.3% |
HDFC Corporate BondHDFC Corporate Bond Fund (Direct)
HDFC Floating Interest RatesHDFC Floating Interest Rates 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 Corporate Bond vs HDFC Floating Interest Rates: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Corporate Bond Fund (Direct) | HDFC Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.83% | +5.17% |
| Standard deviation | 1.73% | 0.97% |
| Sharpe ratio | -1.40 | -0.07 |
| Sortino ratio | -1.83 | -0.10 |
| Maximum drawdown | −1.5% (23-10-2026) | −0.4% (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 Corporate Bond Fund (Direct) | HDFC Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.60% | +7.35% |
| Standard deviation | 1.28% | 0.72% |
| Sharpe ratio | 0.45 | 1.83 |
| Sortino ratio | 0.62 | 2.72 |
| Maximum drawdown | −1.5% (23-10-2026) | −0.4% (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 Corporate Bond Fund (Direct) | HDFC Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.02% | +6.78% |
| Standard deviation | 1.25% | 0.70% |
| Sharpe ratio | 0.18 | 1.39 |
| Sortino ratio | 0.23 | 1.97 |
| Maximum drawdown | −1.5% (07-06-2022) | −0.5% (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 Corporate Bond Fund (Direct) | HDFC Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.75% | +7.72% |
| Standard deviation | 1.74% | 0.78% |
| Sharpe ratio | 0.97 | 2.15 |
| Sortino ratio | 1.39 | 3.46 |
| Maximum drawdown | −4.0% (19-08-2013) | −1.3% (24-03-2020) |
| 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 Corporate Bond Fund (Direct)
HDFC Floating Interest Rates Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Corporate Bond Fund (Direct) | −4.0% | 19-06-2013 | 19-08-2013 | 08-10-2013 | 50 days | −1.3% |
| HDFC Floating Interest Rates Fund (Direct) | −1.3% | 06-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | −0.1% |
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 Corporate Bond Fund (Direct)
HDFC Floating Interest Rates 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 Corporate Bond Fund (Direct)
HDFC Floating Interest Rates 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 Corporate Bond Fund (Direct)
HDFC Floating Interest Rates Fund (Direct)
HDFC Corporate Bond vs HDFC Floating Interest Rates: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Corporate Bond Fund, September 2026; HDFC Floating Interest Rates Fund, September 2026
Holdings in common
- Overlap
- 16.0%
- Held by both
- 40
- Only in HDFC Corporate Bond
- 194
- Only in HDFC Floating Interest Rates
- 100
| Security | % of HDFC Corporate Bond | % of HDFC Floating Interest Rates |
|---|---|---|
| Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 1.38% | 2.44% |
| Small Industries Development Bank | 0.92% | 1.26% |
| National Housing Bank | 1.05% | 0.91% |
| Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 0.89% | 4.24% |
| 6.64% GOI MAT 071231 | 0.77% | 6.97% |
| HDB Financial Services Ltd. | 0.74% | 0.95% |
| Pipeline Infrastructure Pvt. Ltd. | 0.70% | 0.77% |
| ASCENDAS IT PARK PUNE PRIVATE LIMITED | 0.66% | 1.66% |
| National Bank for Agri & Rural Dev. | 0.92% | 0.63% |
| National Bank for Agri & Rural Dev. | 0.59% | 2.23% |
| Power Finance Corporation Ltd. | 0.50% | 0.62% |
| Bajaj Housing Finance Ltd. | 0.58% | 0.43% |
| Power Finance Corporation Ltd. | 0.42% | 0.63% |
| National Bank for Agri & Rural Dev. | 0.42% | 2.35% |
| Power Finance Corporation Ltd. | 0.68% | 0.38% |
| Power Finance Corporation Ltd. | 0.33% | 0.61% |
| Small Industries Development Bank | 1.36% | 0.32% |
| LIC Housing Finance Ltd. | 0.85% | 0.32% |
| Small Industries Development Bank | 0.67% | 0.32% |
| Corporate Debt Market Development Fund | 0.36% | 0.32% |
| Bajaj Housing Finance Ltd. | 0.32% | 0.60% |
| National Housing Bank | 1.00% | 0.31% |
| Housing and Urban Development Corporation Ltd. | 0.81% | 0.31% |
| Pipeline Infrastructure Pvt. Ltd. | 0.31% | 0.48% |
| India Universal Trust AL2 (Originator - HDFC Bank Limited) | 0.30% | 0.49% |
| National Bank for Agri & Rural Dev. | 0.25% | 2.54% |
| Bajaj Finance Ltd. | 0.25% | 1.42% |
| Bajaj Housing Finance Ltd. | 0.25% | 0.32% |
| HDB Financial Services Ltd. | 0.25% | 0.70% |
| National Bank for Agri & Rural Dev. | 0.17% | 0.79% |
| Export - Import Bank of India | 0.17% | 0.95% |
| Small Industries Development Bank | 0.17% | 1.57% |
| REC Limited. | 1.02% | 0.16% |
| Hindustan Petroleum Corp. Ltd. | 0.34% | 0.16% |
| National Housing Bank | 0.17% | 0.16% |
| REC Limited. | 0.16% | 0.77% |
| Indian Railways Finance Corp. Ltd. | 0.16% | 0.15% |
| LIC Housing Finance Ltd. | 0.09% | 0.45% |
| Jamnagar Utilities & Power Pvt. Limited | 0.08% | 0.16% |
| Indian Railways Finance Corp. Ltd. | 0.02% | 0.32% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.0% means 16.0% 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 Corporate Bond Fund
| Security | % of fund |
|---|---|
| 6.9% GOI MAT 150465 | 3.90% |
| Bajaj Finance Ltd. | 3.55% |
| State Bank of India (Tier 2 - Basel III) | 2.54% |
| LIC Housing Finance Ltd. | 1.69% |
| Small Industries Development Bank | 1.69% |
Largest holdings only in HDFC Floating Interest Rates Fund
| Security | % of fund |
|---|---|
| Floating Rate GOI 2034 | 3.28% |
| Jubilant Beverages Limited | 3.12% |
| Aadhar Housing Finance Limited | 1.92% |
| Small Industries Development Bank | 1.76% |
| Torrent Power Ltd. | 1.46% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Corporate Bond | HDFC Floating Interest Rates |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.5% | 96.3% |
| Cash and others | 4.5% | 3.7% |
HDFC Corporate Bond vs HDFC Floating Interest Rates: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Corporate Bond Fund | HDFC Floating Interest Rates Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.38% | 0.27% |
| Base expense ratio (Direct) | 0.32% | 0.23% |
| Total expense ratio (Regular) | 0.63% | 0.50% |
| Base expense ratio (Regular) | 0.53% | 0.43% |
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 Corporate Bond with
Compare HDFC Floating Interest Rates with
- HDFC Floating Interest Rates vs Axis Floating Interest Rates
- HDFC Floating Interest Rates vs Franklin India Floating Interest Rates
- HDFC Floating Interest Rates vs Bandhan Floating Interest Rates
- HDFC Floating Interest Rates vs ICICI Prudential Floating Interest Rates
- HDFC Floating Interest Rates vs Kotak Floating Interest Rates
HDFC Corporate Bond Fund vs HDFC Floating Interest Rates Fund: Frequently Asked Questions
What is the difference between HDFC Corporate Bond Fund and HDFC Floating Interest Rates Fund?
HDFC Corporate Bond Fund is a Corporate Bond fund, HDFC Floating Interest Rates Fund is a Floater fund, run by HDFC Mutual Fund. Their portfolios overlap 16.0%. HDFC Corporate Bond Fund charges 0.38% a year and HDFC Floating Interest Rates Fund 0.27%.
Which has given higher returns, HDFC Corporate Bond Fund or HDFC Floating Interest Rates Fund?
Over 1 year: HDFC Corporate Bond Fund +2.83%, HDFC Floating Interest Rates Fund +5.17%. Over 3 years: HDFC Corporate Bond Fund +6.60% a year, HDFC Floating Interest Rates Fund +7.35% a year. Over 5 years: HDFC Corporate Bond Fund +6.02% a year, HDFC Floating Interest Rates Fund +6.78% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Corporate Bond Fund or HDFC Floating Interest Rates Fund?
HDFC Floating Interest Rates Fund charges less: 0.27% a year against 0.38%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Corporate Bond Fund and HDFC Floating Interest Rates Fund overlap?
16.0%. They hold 40 of the same securities, the largest shared ones being Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited), Small Industries Development Bank, National Housing Bank. From each fund's latest monthly portfolio.
Which is riskier, HDFC Corporate Bond Fund or HDFC Floating Interest Rates Fund?
On SEBI's riskometer, HDFC Corporate Bond Fund is rated Moderate and HDFC Floating Interest Rates Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.28% and 0.72% a year.
Which is better for SIP, HDFC Corporate Bond Fund or HDFC Floating Interest Rates Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,12,822 in HDFC Corporate Bond Fund (XIRR 6.1% a year) and ₹7,30,459 in HDFC Floating Interest Rates Fund (XIRR 7.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Corporate Bond Fund and HDFC Floating Interest Rates Fund?
Yes. 16.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Corporate Bond Fund and HDFC Floating Interest Rates Fund?
HDFC Corporate Bond Fund: Anupam Joshi, Gopal Agrawal. HDFC Floating Interest Rates 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.