HDFC Corporate Bond Fund vs HDFC Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Corporate Bond Fund is a Corporate Bond fund and HDFC Short Term Fund is a Short Duration fund. In the 3 years to 30-10-2026, HDFC Corporate Bond Fund (Direct) returned 6.6% a year and HDFC Short Term Fund (Direct) returned 7.2% a year. HDFC Corporate Bond Fund charges 0.38% a year and HDFC Short Term Fund 0.39% (Direct plans). Their portfolios overlap 23.3%: they hold 60 of the same securities.
HDFC Corporate Bond Fund
Corporate Bond
- 3 year return
- 6.6%
- Expense ratio
- 0.38%
- NAV
- ₹34.93
HDFC Short Term Fund
Short Duration
- 3 year return
- 7.2%
- Expense ratio
- 0.39%
- NAV
- ₹35.30
Which is better, HDFC Corporate Bond 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 6.0%.
- HDFC Short Term returned more over 3 years: 7.2% a year against 6.6%.
- HDFC Corporate Bond costs less: 0.38% a year against 0.39% (Direct plans).
- HDFC Short Term swung less over 3 years: a standard deviation of 0.9% a year against 1.3%.
- HDFC Short Term fell less in its worst fall since 01-01-2013: −2.7% against −4.0%.
- HDFC Corporate Bond is the larger fund: ₹29,479 Cr against ₹14,219 Cr.
- Their portfolios overlap 23.3%: 60 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 Short Term Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Corporate Bond | Short Duration |
| AUM | ₹29,479 Cr (30-09-2026) | ₹14,219 Cr (30-09-2026) |
| NAV | ₹34.93 (Direct) | ₹35.30 (Direct) |
| Expense ratio (Direct) | 0.38% | 0.39% |
| Expense ratio (Regular) | 0.63% | 0.67% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Corporate Bond Index A-II | CRISIL Short Duration Debt A-II Index |
| Launch date | 29-06-2010 | 25-06-2010 |
| 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 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 Corporate Bond Fund (Direct) | −0.60% | −0.87% | +1.72% | +2.83% | +6.60% | +6.02% | +7.06% |
| HDFC Short Term Fund (Direct) | −0.26% | +0.03% | +2.26% | +4.26% | +7.22% | +6.46% | +7.24% |
| Corporate Bond average | −0.24% | +0.05% | +2.31% | +4.00% | +7.02% | +6.20% | +6.98% |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
Category average: the average of the 21 Corporate Bond funds and the 25 Short Duration funds, same plan type.
HDFC Corporate Bond vs HDFC Short Term: Year-wise Returns
| Year | Corporate BondHDFC Corporate Bond | Short TermHDFC Short Term |
|---|---|---|
| 2026to date | +2.14% | +3.43% |
| 2025 | +7.60% | +8.19% |
| 2024 | +8.82% | +8.51% |
| 2023 | +7.49% | +7.59% |
| 2022 | +3.56% | +3.98% |
| 2021 | +4.22% | +4.40% |
HDFC Corporate Bond vs HDFC Short 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 Corporate Bond Fund (Direct)
HDFC Short 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 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 Short Term | 0.0 | 0.0 | 98.4 | 1.6 | 0.0 | 0.0 | 0.0 | 7.9% | 7.9% | 5.2% | 10.6% |
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 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 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 Short TermHDFC Short Term Fund (Direct) | ₹16,60,000 | ₹28,28,048 | ₹11,68,048 | 7.3% |
HDFC Corporate BondHDFC Corporate Bond 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 Corporate Bond 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 Corporate Bond Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.83% | +4.26% |
| Standard deviation | 1.73% | 1.16% |
| Sharpe ratio | -1.40 | -0.85 |
| Sortino ratio | -1.83 | -1.13 |
| Maximum drawdown | −1.5% (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 Corporate Bond Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.60% | +7.22% |
| Standard deviation | 1.28% | 0.92% |
| Sharpe ratio | 0.45 | 1.29 |
| Sortino ratio | 0.62 | 1.91 |
| Maximum drawdown | −1.5% (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 Corporate Bond Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.02% | +6.46% |
| Standard deviation | 1.25% | 0.92% |
| Sharpe ratio | 0.18 | 0.72 |
| Sortino ratio | 0.23 | 0.99 |
| Maximum drawdown | −1.5% (07-06-2022) | −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 Corporate Bond Fund (Direct) | HDFC Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.75% | +7.83% |
| Standard deviation | 1.74% | 1.31% |
| Sharpe ratio | 0.97 | 1.36 |
| Sortino ratio | 1.39 | 2.08 |
| Maximum drawdown | −4.0% (19-08-2013) | −2.7% (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 Short Term 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 Short Term Fund (Direct) | −2.7% | 06-03-2020 | 24-03-2020 | 31-03-2020 | 7 days | −0.5% |
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 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 Corporate Bond 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 Corporate Bond Fund (Direct)
HDFC Short Term Fund (Direct)
HDFC Corporate Bond vs HDFC Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Corporate Bond Fund, September 2026; HDFC Short Term Fund, September 2026
Holdings in common
- Overlap
- 23.3%
- Held by both
- 60
- Only in HDFC Corporate Bond
- 174
- Only in HDFC Short Term
- 81
| Security | % of HDFC Corporate Bond | % of HDFC Short Term |
|---|---|---|
| Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 1.38% | 1.51% |
| Small Industries Development Bank | 1.36% | 1.41% |
| Pipeline Infrastructure Pvt. Ltd. | 1.33% | 1.73% |
| REC Limited. | 1.02% | 1.37% |
| Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 0.89% | 2.35% |
| National Bank for Agri & Rural Dev. | 0.92% | 0.87% |
| 6.64% GOI MAT 071231 | 0.77% | 1.09% |
| Small Industries Development Bank | 1.69% | 0.70% |
| LIC Housing Finance Ltd. | 0.85% | 0.70% |
| Bajaj Housing Finance Ltd. | 0.84% | 0.70% |
| Small Industries Development Bank | 0.67% | 1.04% |
| ASCENDAS IT PARK PUNE PRIVATE LIMITED | 0.66% | 1.38% |
| India Universal Trust AL2 (Originator - HDFC Bank Limited) | 0.85% | 0.64% |
| National Bank for Agri & Rural Dev. | 0.59% | 1.05% |
| Pipeline Infrastructure Pvt. Ltd. | 0.70% | 0.56% |
| Kotak Mahindra Investments Ltd. | 0.80% | 0.53% |
| Small Industries Development Bank | 0.92% | 0.52% |
| Power Finance Corporation Ltd. | 0.50% | 0.86% |
| REC Limited. | 0.48% | 0.93% |
| Indian Railways Finance Corp. Ltd. | 0.45% | 0.56% |
| National Bank for Agri & Rural Dev. | 0.42% | 1.05% |
| SMFG India Credit Company Ltd | 0.42% | 0.70% |
| Corporate Debt Market Development Fund | 0.36% | 0.37% |
| HDFC Bank Ltd. | 1.68% | 0.35% |
| National Bank for Agri & Rural Dev. | 1.10% | 0.35% |
| Power Finance Corporation Ltd. | 0.68% | 0.35% |
| REC Limited. | 0.35% | 0.54% |
| Small Industries Development Bank | 0.41% | 0.34% |
| Power Finance Corporation Ltd. | 0.33% | 0.35% |
| Power Finance Corporation Ltd. | 0.33% | 0.68% |
| Bajaj Housing Finance Ltd. | 0.32% | 0.50% |
| India Universal Trust AL2 (Originator - HDFC Bank Limited) | 0.30% | 0.36% |
| TATA Capital Housing Finance Ltd. | 0.75% | 0.29% |
| 7.64% Gujarat SDL ISD 170124 MAT 170133 | 0.29% | 0.56% |
| Small Industries Development Bank | 0.25% | 0.59% |
| 7.64% % Gujarat SDL ISD 170124 Mat 170134 | 0.24% | 0.38% |
| REC Limited. | 1.55% | 0.21% |
| Bajaj Finance Ltd. | 3.55% | 0.17% |
| 7.24% GOI MAT 180855 | 0.48% | 0.17% |
| National Bank for Agri & Rural Dev. | 0.33% | 0.17% |
| 7.63% Andhra Pradesh SDL ISD 030925 MAT 030937 | 0.17% | 0.17% |
| 7.72% Bihar SDL - MAT 250241 | 0.17% | 0.35% |
| 7.63% Gujarat SDL ISD 240124 Mat 240134 | 0.17% | 0.24% |
| Tata Communications Limited | 0.17% | 1.73% |
| National Bank for Agri & Rural Dev. | 0.17% | 2.22% |
| Nomura Capital India Pvt. Ltd. | 0.14% | 0.28% |
| 7.67% Haryana SDL MAT 250241 | 0.13% | 0.14% |
| 7.62% Andhra Pradesh SDL ISD 030925 MAT 030936 | 0.11% | 0.12% |
| Reliance Industries Ltd. | 0.09% | 0.18% |
| LIC Housing Finance Ltd. | 0.09% | 0.71% |
| LIC Housing Finance Ltd. | 0.09% | 0.36% |
| Power Finance Corporation Ltd. | 0.09% | 0.18% |
| Jamnagar Utilities & Power Pvt. Limited | 0.08% | 2.46% |
| 7.48% Andhra Pradesh SDL ISD 030925 MAT 030933 | 0.07% | 0.14% |
| 7.63% Gujarat SDL - MAT 100637 | 0.06% | 0.25% |
| 7.48% Andhra Pradesh SDL ISD 030925 MAT 030934 | 0.05% | 0.10% |
| REC Limited. | 0.05% | 0.72% |
| Nomura Capital India Pvt. Ltd. | 0.05% | 0.11% |
| 7.27% Andhra Pradesh SDL ISD 081025 MAT 081036 | 0.03% | 0.07% |
| 7.63% Gujarat SDL ISD 240124 Mat 240133 | 0.03% | 0.32% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.3% means 23.3% 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 Corporate Bond Fund
| Security | % of fund |
|---|---|
| 6.9% GOI MAT 150465 | 3.90% |
| State Bank of India (Tier 2 - Basel III) | 2.54% |
| LIC Housing Finance Ltd. | 1.69% |
| Bajaj Housing Finance Ltd. | 1.55% |
| Floating Rate GOI 2033 | 1.50% |
Largest holdings only in HDFC Short Term Fund
| Security | % of fund |
|---|---|
| Jubilant Beverages Limited | 3.03% |
| JTPM Metal Traders Limited | 2.73% |
| ADITYA BIRLA RENEWABLES LIMITED | 2.18% |
| National Bank for Agri & Rural Dev. | 1.93% |
| UltraTech Cement Limited | 1.67% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Corporate Bond | HDFC Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.5% | 94.2% |
| Cash and others | 4.5% | 5.8% |
HDFC Corporate Bond vs HDFC Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Corporate Bond Fund | HDFC Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.38% | 0.39% |
| Base expense ratio (Direct) | 0.32% | 0.33% |
| Total expense ratio (Regular) | 0.63% | 0.67% |
| Base expense ratio (Regular) | 0.53% | 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 Corporate Bond with
HDFC Corporate Bond Fund vs HDFC Short Term Fund: Frequently Asked Questions
What is the difference between HDFC Corporate Bond Fund and HDFC Short Term Fund?
HDFC Corporate Bond Fund is a Corporate Bond fund, HDFC Short Term Fund is a Short Duration fund, run by HDFC Mutual Fund. Their portfolios overlap 23.3%. HDFC Corporate Bond Fund charges 0.38% a year and HDFC Short Term Fund 0.39%.
Which has given higher returns, HDFC Corporate Bond Fund or HDFC Short Term Fund?
Over 1 year: HDFC Corporate Bond Fund +2.83%, HDFC Short Term Fund +4.26%. Over 3 years: HDFC Corporate Bond Fund +6.60% a year, HDFC Short Term Fund +7.22% a year. Over 5 years: HDFC Corporate Bond Fund +6.02% 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 Corporate Bond Fund or HDFC Short Term Fund?
HDFC Corporate Bond Fund charges less: 0.38% a year against 0.39%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Corporate Bond Fund and HDFC Short Term Fund overlap?
23.3%. They hold 60 of the same securities, the largest shared ones being Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited), Small Industries Development Bank, Pipeline Infrastructure Pvt. Ltd.. From each fund's latest monthly portfolio.
Which is riskier, HDFC Corporate Bond Fund or HDFC Short Term Fund?
On SEBI's riskometer, HDFC Corporate Bond Fund is rated Moderate and HDFC Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.28% and 0.92% a year.
Which is better for SIP, HDFC Corporate Bond 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 ₹7,12,822 in HDFC Corporate Bond Fund (XIRR 6.1% 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 Corporate Bond Fund and HDFC Short Term Fund?
Yes. 23.3% 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 Short Term Fund?
HDFC Corporate Bond Fund: Anupam Joshi, 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.