HDFC Defence Fund vs SBI Quality Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Defence Fund is a Thematic fund and SBI Quality Fund is a Thematic fund. HDFC Defence Fund charges 0.90% a year and SBI Quality Fund 1.34% (Direct plans). Their portfolios overlap 12.4%: they hold 6 of the same securities.
Which is better, HDFC Defence or SBI Quality? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Defence costs less: 0.90% a year against 1.34% (Direct plans).
- SBI Quality fell less in its worst fall since 23-02-2026: −10.4% against −14.3%.
- SBI Quality holds 3.1% of the fund in foreign stocks; HDFC Defence 0.0%.
- HDFC Defence is the larger fund: ₹11,493 Cr against ₹2,578 Cr.
- Their portfolios overlap 12.4%: 6 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 Defence Fund | SBI Quality Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | SBI Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹11,493 Cr (30-09-2026) | ₹2,578 Cr (30-09-2026) |
| NAV | ₹28.86 (Direct) | ₹10.29 (Direct) |
| Expense ratio (Direct) | 0.90% | 1.34% |
| Expense ratio (Regular) | 1.80% | 2.42% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Defence TRI | Nifty 200 Quality 30 TRI |
| Launch date | 02-06-2023 | 17-02-2026 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Rahul Baijal, Priya Ranjan, Gopal Agrawal, Bhagyesh Kagalkar | Anup Upadhyay |
| Exit load | In respect of each purchase/switch-in of units, an Exit load of 1% is payable if units are redeemed/switched-out within 1 yearfrom the date of allotment. No Exit Load is payable if units are redeemed / switched-out after 1 year from the date of allotment. In respect of Systematic Transactions such as SIP, Flex SIP,STP, Flex STP, Swing STP, Exit Load, if any, prevailing on the date of registration / enrolment shall be levied. | Exit load of 1%, if redeemed within 6 months. |
HDFC Defence vs SBI Quality: 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 Defence Fund (Direct) | −6.07% | −3.22% | +4.84% | +13.79% | +34.76% | -- | -- |
| SBI Quality Fund (Direct) | −2.44% | −3.22% | +3.73% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Defence vs SBI Quality: Year-wise Returns
| Year | HDFC DefenceHDFC Defence | SBI QualitySBI Quality |
|---|---|---|
| 2026to date | +19.90% | -- |
| 2025 | +10.75% | -- |
| 2024 | +41.88% | -- |
HDFC Defence vs SBI Quality: Rolling Returns
Every holding period of both funds, against Nifty India Defence TRI, the benchmark of HDFC Defence Fund
HDFC Defence vs SBI Quality: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Defence Fund (Direct) | SBI Quality Fund (Direct) |
|---|---|---|
| Return (CAGR) | +36.39% | +4.77% |
| Standard deviation | 24.68% | 13.57% |
| Sharpe ratio | 1.23 | -0.03 |
| Sortino ratio | 1.69 | -0.04 |
| Maximum drawdown | −34.5% (28-02-2025) | −10.4% (23-10-2026) |
| Beta | 0.81 | 0.80 |
| Alpha | −1.99% | +10.71% |
From daily NAVs, 02-06-2023 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.
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 Defence Fund (Direct)
SBI Quality Fund (Direct)
Nifty India Defence TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Defence Fund (Direct) | −14.3% | 06-03-2026 | 31-03-2026 | 15-04-2026 | 15 days | −11.4% |
| SBI Quality Fund (Direct) | −10.4% | 31-08-2026 | 23-10-2026 | Not yet | -- | −7.5% |
| Nifty India Defence TRI | −15.4% | 06-03-2026 | 30-03-2026 | 15-04-2026 | 16 days | −12.9% |
From daily values since 23-02-2026, the first day every fund has.
HDFC Defence vs SBI Quality: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Defence Fund, September 2026; SBI Quality Fund, September 2026
Holdings in common
- Overlap
- 12.4%
- Held by both
- 6
- Only in HDFC Defence
- 18
- Only in SBI Quality
- 41
| Security | % of HDFC Defence | % of SBI Quality |
|---|---|---|
| Solar Industries India Ltd. | 10.28% | 4.13% |
| Hindustan Aeronautics Limited | 12.61% | 3.75% |
| Eicher Motors Ltd. | 4.67% | 1.92% |
| Sedemac Mechatronics Limited | 1.21% | 2.02% |
| Tata Motors Limited | 1.07% | 1.88% |
| INDO-MIM Limited | 0.36% | 1.92% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.4% means 12.4% 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 Defence Fund
| Security | % of fund |
|---|---|
| Bharat Electronics Ltd. | 14.87% |
| Bharat Forge Ltd. | 12.91% |
| Astra Microwave Products Ltd. | 6.44% |
| BEML Limited | 5.11% |
| MTAR Technologies Limited | 5.09% |
Largest holdings only in SBI Quality Fund
| Security | % of fund |
|---|---|
| Bajaj Auto Ltd. | 5.59% |
| Nestle India Ltd. | 5.16% |
| Marico Ltd. | 3.93% |
| Dixon Technologies (India) Ltd. | 3.34% |
| Hindustan Zinc Ltd. | 2.99% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Defence | SBI Quality |
|---|---|---|
| Equity | 98.3% | 95.2% |
| Debt | 0.0% | 0.4% |
| Cash and others | 1.7% | 4.5% |
Market cap of stocks
| Market cap | HDFC Defence | SBI Quality |
|---|---|---|
| Large Cap | 43.5% | 52.2% |
| Mid Cap | 23.7% | 19.7% |
| Small Cap | 30.7% | 18.2% |
| Foreign stocks | 0.0% | 3.1% |
| Not on AMFI's list | 0.4% | 2.0% |
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 Defence | SBI Quality |
|---|---|---|
| Aerospace & Defense | 46.1% | 3.8% |
| Auto Components | 18.2% | 4.0% |
| Chemicals & Petrochemicals | 13.1% | 4.1% |
| Automobiles | 4.7% | 10.3% |
| Pharmaceuticals & Biotechnology | 0.0% | 8.3% |
| Banks | 0.0% | 8.1% |
| IT - Software | 0.0% | 6.8% |
| Agricultural Food & other Products | 0.0% | 6.8% |
| Agricultural, Commercial & Construction Vehicles | 6.2% | 1.9% |
| Electrical Equipment | 5.1% | 6.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Defence vs SBI Quality: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Defence Fund | SBI Quality Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.90% | 1.34% |
| Base expense ratio (Direct) | 0.72% | 0.77% |
| Total expense ratio (Regular) | 1.80% | 2.42% |
| Base expense ratio (Regular) | 1.49% | 1.70% |
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 Defence with
HDFC Defence Fund vs SBI Quality Fund: Frequently Asked Questions
What is the difference between HDFC Defence Fund and SBI Quality Fund?
HDFC Defence Fund is a Thematic fund, SBI Quality Fund is a Thematic fund, run by HDFC Mutual Fund and SBI Mutual Fund. Their portfolios overlap 12.4%. HDFC Defence Fund charges 0.90% a year and SBI Quality Fund 1.34%.
Which has the lower expense ratio, HDFC Defence Fund or SBI Quality Fund?
HDFC Defence Fund charges less: 0.90% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Defence Fund and SBI Quality Fund overlap?
12.4%. They hold 6 of the same securities, the largest shared ones being SOLARINDS, HAL, EICHERMOT. From each fund's latest monthly portfolio.
Which is riskier, HDFC Defence Fund or SBI Quality Fund?
On SEBI's riskometer, HDFC Defence Fund is rated Very High and SBI Quality Fund Very High. Over their common history, the standard deviation of daily returns was 24.68% and 13.57% a year.
Can I invest in both HDFC Defence Fund and SBI Quality Fund?
Yes. 12.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Defence Fund and SBI Quality Fund?
HDFC Defence Fund: Rahul Baijal, Priya Ranjan, Gopal Agrawal, Bhagyesh Kagalkar. SBI Quality Fund: Anup Upadhyay.
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.