HDFC Credit Risk Fund vs HSBC Credit Risk Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Credit Risk Fund and HSBC Credit Risk Fund are both Credit Risk funds. In the 3 years to 30-10-2026, HDFC Credit Risk Fund (Direct) returned 8.0% a year and HSBC Credit Risk Fund (Direct) returned 11.5% a year. HDFC Credit Risk Fund charges 1.01% a year and HSBC Credit Risk Fund 0.84% (Direct plans). Their portfolios overlap 16.2%: they hold 8 of the same securities.
HDFC Credit Risk Fund
Credit Risk
- 3 year return
- 8.0%
- Expense ratio
- 1.01%
- NAV
- ₹28.34
HSBC Credit Risk Fund
Credit Risk
- 3 year return
- 11.5%
- Expense ratio
- 0.84%
- NAV
- ₹37.80
Which is better, HDFC Credit Risk or HSBC Credit Risk? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Credit Risk returned more over 3 years: 11.5% a year against 8.0%.
- HDFC Credit Risk returned more over 1 year: 6.2% against 5.7%.
- HSBC Credit Risk costs less: 0.84% a year against 1.01% (Direct plans).
- HDFC Credit Risk swung less over 3 years: a standard deviation of 1.0% a year against 6.4%.
- HSBC Credit Risk fell less in its worst fall since 28-11-2022: −0.4% against −0.5%.
- HDFC Credit Risk is the larger fund: ₹7,631 Cr against ₹441 Cr.
- Their portfolios overlap 16.2%: 8 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 Credit Risk Fund | HSBC Credit Risk Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HSBC Mutual Fund |
| Category | Credit Risk | Credit Risk |
| AUM | ₹7,631 Cr (30-09-2026) | ₹441 Cr (30-09-2026) |
| NAV | ₹28.34 (Direct) | ₹37.80 (Direct) |
| Expense ratio (Direct) | 1.01% | 0.84% |
| Expense ratio (Regular) | 1.51% | 1.66% |
| Riskometer | High | Moderately High |
| Benchmark | NIFTY Credit Risk Bond Index B-II | NIFTY Credit Risk Bond Index B-II |
| Launch date | 25-03-2014 | 08-10-2009 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Praveen Jain, Bhavyesh Divecha, Gopal Agrawal | Shriram Ramanathan |
| Exit load | Exit load for units in excess of 15% of the investment, 1% will be charged for redemption within 12 months and 0.50% if redeemed after 12 months but within 18 months. | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 Year. |
HDFC Credit Risk vs HSBC Credit Risk: 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 Credit Risk Fund (Direct) | −0.06% | +0.83% | +3.29% | +6.18% | +8.02% | +7.04% | +7.76% |
| HSBC Credit Risk Fund (Direct) | −0.12% | +0.77% | +2.99% | +5.68% | +11.54% | -- | -- |
| Credit Risk average | −0.04% | +0.78% | +3.31% | +7.84% | +9.41% | -- | -- |
Category average: the average of the 13 Credit Risk funds, same plan type.
HDFC Credit Risk vs HSBC Credit Risk: Year-wise Returns
| Year | HDFCHDFC Credit Risk | HSBCHSBC Credit Risk |
|---|---|---|
| 2026to date | +5.19% | +4.65% |
| 2025 | +8.61% | +21.22% |
| 2024 | +8.86% | +8.02% |
| 2023 | +7.27% | +7.34% |
| 2022 | +4.37% | -- |
| 2021 | +7.58% | -- |
HDFC Credit Risk vs HSBC Credit Risk: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 222 of them, one for each trading day from 28-11-2025 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 Credit Risk Fund (Direct)
HSBC Credit Risk Fund (Direct)
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Credit Risk | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.2% | 8.2% | 7.7% | 8.4% |
| HSBC Credit Risk | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 11.8% | 11.8% | 11.5% | 12.1% |
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 28-11-2022. Past returns do not promise future returns.
HDFC Credit Risk vs HSBC Credit Risk: 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 01-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Credit RiskHDFC Credit Risk Fund (Direct) | ₹4,80,000 | ₹5,59,097 | ₹79,097 | 7.6% |
| HSBC Credit RiskHSBC Credit Risk Fund (Direct) | ₹4,80,000 | ₹5,96,979 | ₹1,16,979 | 10.9% |
HDFC Credit RiskHDFC Credit Risk Fund (Direct)
HSBC Credit RiskHSBC Credit Risk 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 Credit Risk vs HSBC Credit Risk: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Credit Risk Fund (Direct) | HSBC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.18% | +5.68% |
| Standard deviation | 1.23% | 0.92% |
| Sharpe ratio | 0.76 | 0.47 |
| Sortino ratio | 1.07 | 0.67 |
| Maximum drawdown | −0.5% (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 Credit Risk Fund (Direct) | HSBC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.02% | +11.54% |
| Standard deviation | 0.99% | 6.43% |
| Sharpe ratio | 2.01 | 0.86 |
| Sortino ratio | 3.00 | 11.11 |
| Maximum drawdown | −0.5% (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 Credit Risk Fund (Direct) | HSBC Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.61% | +10.49% |
| Standard deviation | 1.44% | 5.63% |
| Sharpe ratio | 1.93 | 0.77 |
| Sortino ratio | 2.99 | 9.21 |
| Maximum drawdown | −2.6% (26-03-2020) | −0.4% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 25-03-2014 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 Credit Risk Fund (Direct)
HSBC Credit Risk Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Credit Risk Fund (Direct) | −0.5% | 23-09-2026 | 23-10-2026 | Not yet | -- | −0.2% |
| HSBC Credit Risk Fund (Direct) | −0.4% | 06-10-2026 | 23-10-2026 | Not yet | -- | −0.2% |
From daily values since 28-11-2022, 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 Credit Risk Fund (Direct)
HSBC Credit Risk 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 Credit Risk Fund (Direct)
HSBC Credit Risk Fund (Direct)
HDFC Credit Risk vs HSBC Credit Risk: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Credit Risk Fund, September 2026; HSBC Credit Risk Fund, September 2026
Holdings in common
- Overlap
- 16.2%
- Held by both
- 8
- Only in HDFC Credit Risk
- 85
- Only in HSBC Credit Risk
- 22
| Security | % of HDFC Credit Risk | % of HSBC Credit Risk |
|---|---|---|
| Nirma Ltd. | 3.94% | 5.97% |
| GMR Airports Limited | 4.87% | 3.70% |
| ADITYA BIRLA RENEWABLES LIMITED | 2.75% | 5.68% |
| JTPM Metal Traders Limited | 2.12% | 6.12% |
| Cube Highways Trust | 1.38% | 1.94% |
| RAAJMARG INFRA INVESTMENT TRUST | 1.29% | 1.23% |
| MAS Financial Services Ltd. | 0.72% | 3.47% |
| Corporate Debt Market Development Fund | 0.33% | 0.43% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.2% means 16.2% 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 Credit Risk Fund
| Security | % of fund |
|---|---|
| Indus Infra Trust | 3.23% |
| Triumph Composites Private Limited | 3.12% |
| Jubilant Beverages Limited | 2.82% |
| Bamboo Hotel and Global Centre (Delhi) Private Limited | 2.63% |
| Jubilant Bevco Limited | 2.62% |
Largest holdings only in HSBC Credit Risk Fund
| Security | % of fund |
|---|---|
| Nuvoco Vistas Corporation Limited | 7.88% |
| 6.01% GOI 21Jul2030 | 6.69% |
| Power Finance Corporation Limited | 5.84% |
| Power Grid Corporation of India Limited | 5.71% |
| Godrej Seeds & Genetics Limited | 5.67% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Credit Risk | HSBC Credit Risk |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 88.8% | 92.6% |
| Cash and others | 11.2% | 7.4% |
HDFC Credit Risk vs HSBC Credit Risk: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Credit Risk Fund | HSBC Credit Risk Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.01% | 0.84% |
| Base expense ratio (Direct) | 0.86% | 0.70% |
| Total expense ratio (Regular) | 1.51% | 1.66% |
| Base expense ratio (Regular) | 1.29% | 1.39% |
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 Credit Risk with
HDFC Credit Risk Fund vs HSBC Credit Risk Fund: Frequently Asked Questions
What is the difference between HDFC Credit Risk Fund and HSBC Credit Risk Fund?
Both are Credit Risk funds, run by HDFC Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 16.2%. HDFC Credit Risk Fund charges 1.01% a year and HSBC Credit Risk Fund 0.84%.
Which has given higher returns, HDFC Credit Risk Fund or HSBC Credit Risk Fund?
Over 1 year: HDFC Credit Risk Fund +6.18%, HSBC Credit Risk Fund +5.68%. Over 3 years: HDFC Credit Risk Fund +8.02% a year, HSBC Credit Risk Fund +11.54% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Credit Risk Fund or HSBC Credit Risk Fund?
HSBC Credit Risk Fund charges less: 0.84% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Credit Risk Fund and HSBC Credit Risk Fund overlap?
16.2%. They hold 8 of the same securities, the largest shared ones being Nirma Ltd., GMR Airports Limited, ADITYA BIRLA RENEWABLES LIMITED. From each fund's latest monthly portfolio.
Which is riskier, HDFC Credit Risk Fund or HSBC Credit Risk Fund?
On SEBI's riskometer, HDFC Credit Risk Fund is rated High and HSBC Credit Risk Fund Moderately High. Over 3 years, the standard deviation of daily returns was 0.99% and 6.43% a year.
Which is better for SIP, HDFC Credit Risk Fund or HSBC Credit Risk Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,15,043 in HDFC Credit Risk Fund (XIRR 7.4% a year) and ₹4,38,265 in HSBC Credit Risk Fund (XIRR 11.0% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Credit Risk Fund and HSBC Credit Risk Fund?
Yes. 16.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Credit Risk Fund and HSBC Credit Risk Fund?
HDFC Credit Risk Fund: Praveen Jain, Bhavyesh Divecha, Gopal Agrawal. HSBC Credit Risk Fund: Shriram Ramanathan.
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.