HDFC Defence Fund vs The Wealth Company Ethical Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Defence Fund is a Thematic fund and The Wealth Company Ethical Fund is a Thematic fund. In the year to 30-10-2026, HDFC Defence Fund (Direct) returned 13.8% and The Wealth Company Ethical Fund (Direct) returned −9.4%. HDFC Defence Fund charges 0.90% a year and The Wealth Company Ethical Fund 1.15% (Direct plans). Their portfolios overlap 0.0%: they hold 0 of the same securities.
The Wealth Company Ethical Fund
Thematic
- 1 year return
- −9.4%
- Expense ratio
- 1.15%
- NAV
- ₹9.08
Which is better, HDFC Defence or The Wealth Company Ethical? 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 returned more over 1 year: 13.8% against −9.4%.
- HDFC Defence costs less: 0.90% a year against 1.15% (Direct plans).
- HDFC Defence fell less in its worst fall since 17-10-2025: −14.3% against −14.7%.
- HDFC Defence holds more in large companies: 43.5% of the fund in large caps against 24.3%.
- HDFC Defence is the larger fund: ₹11,493 Cr against ₹39 Cr.
- Their portfolios overlap 0.0%: 0 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 | The Wealth Company Ethical Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | The Wealth Company Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹11,493 Cr (30-09-2026) | ₹39 Cr (30-09-2026) |
| NAV | ₹28.86 (Direct) | ₹9.08 (Direct) |
| Expense ratio (Direct) | 0.90% | 1.15% |
| Expense ratio (Regular) | 1.80% | 2.76% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Defence TRI | Nifty 500 Shariah TRI |
| Launch date | 02-06-2023 | 14-10-2025 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Rahul Baijal, Priya Ranjan, Gopal Agrawal, Bhagyesh Kagalkar | Aparna Shanker, Saloni Kapadia |
| 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. | 1% - If redeemed/switched out within 30 days from the date of allotment and Nil - if redeemed/switched out after 30 days from the date of allotment. |
HDFC Defence vs The Wealth Company Ethical: 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% | -- | -- |
| The Wealth Company Ethical Fund (Direct) | −3.99% | −7.72% | −4.58% | −9.45% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Defence vs The Wealth Company Ethical: Year-wise Returns
| Year | HDFC DefenceHDFC Defence | The Wealth Company EthicalThe Wealth Company Ethical |
|---|---|---|
| 2026to date | +19.90% | −8.29% |
| 2025 | +10.75% | -- |
| 2024 | +41.88% | -- |
HDFC Defence vs The Wealth Company Ethical: Rolling Returns
Every holding period of both funds, against Nifty India Defence TRI, the benchmark of HDFC Defence Fund
HDFC Defence vs The Wealth Company Ethical: 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 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC DefenceHDFC Defence Fund (Direct) | ₹1,30,000 | ₹1,40,487 | ₹10,487 | 14.2% |
| The Wealth Company EthicalThe Wealth Company Ethical Fund (Direct) | ₹1,30,000 | ₹1,21,795 | −₹8,205 | −10.8% |
HDFC DefenceHDFC Defence Fund (Direct)
The Wealth Company EthicalThe Wealth Company Ethical 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 Defence vs The Wealth Company Ethical: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Defence Fund (Direct) | The Wealth Company Ethical Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.79% | −9.45% |
| Standard deviation | 22.90% | 14.84% |
| Sharpe ratio | 0.37 | -0.99 |
| Sortino ratio | 0.52 | -1.29 |
| Maximum drawdown | −14.3% (31-03-2026) | −14.5% (23-03-2026) |
| Beta | 0.92 | 1.03 |
| Alpha | +5.40% | −2.12% |
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 Defence Fund (Direct) | The Wealth Company Ethical Fund (Direct) |
|---|---|---|
| Return (CAGR) | +36.39% | −8.97% |
| Standard deviation | 24.68% | 14.60% |
| Sharpe ratio | 1.23 | -0.98 |
| Sortino ratio | 1.69 | -1.27 |
| Maximum drawdown | −34.5% (28-02-2025) | −14.7% (23-03-2026) |
| Beta | 0.81 | 1.02 |
| Alpha | −1.99% | −3.17% |
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)
The Wealth Company Ethical 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% |
| The Wealth Company Ethical Fund (Direct) | −14.7% | 29-10-2025 | 23-03-2026 | 04-08-2026 | 4 months | −10.4% |
| Nifty India Defence TRI | −15.4% | 06-03-2026 | 30-03-2026 | 15-04-2026 | 16 days | −12.9% |
From daily values since 17-10-2025, 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 Defence Fund (Direct)
The Wealth Company Ethical Fund (Direct)
Nifty India Defence TRI
Against Nifty India Defence TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Defence Fund (Direct) | 102% | 87% | 6.27% |
| The Wealth Company Ethical Fund (Direct) | 32% | 73% | 17.51% |
From month-end values since 17-10-2025. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
HDFC Defence vs The Wealth Company Ethical: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Defence Fund, September 2026; The Wealth Company Ethical Fund, September 2026
Holdings in common
- Overlap
- 0.0%
- Held by both
- 0
- Only in HDFC Defence
- 24
- Only in The Wealth Company Ethical
- 52
Overlap: for each holding both funds own, the smaller of its two weights, added up. 0.0% means 0.0% 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 Defence Fund
| Security | % of fund |
|---|---|
| Bharat Electronics Ltd. | 14.87% |
| Bharat Forge Ltd. | 12.91% |
| Hindustan Aeronautics Limited | 12.61% |
| Solar Industries India Ltd. | 10.28% |
| Astra Microwave Products Ltd. | 6.44% |
Largest holdings only in The Wealth Company Ethical Fund
| Security | % of fund |
|---|---|
| Jyoti Cnc Automation Ltd | 3.96% |
| Netweb Technologies India Limited | 3.49% |
| GE Vernova T&D India Limited | 2.99% |
| Marico Limited | 2.90% |
| Redington Limited | 2.90% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Defence | The Wealth Company Ethical |
|---|---|---|
| Equity | 98.3% | 93.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.7% | 6.4% |
Market cap of stocks
| Market cap | HDFC Defence | The Wealth Company Ethical |
|---|---|---|
| Large Cap | 43.5% | 24.3% |
| Mid Cap | 23.7% | 32.9% |
| Small Cap | 30.7% | 35.1% |
| Not on AMFI's list | 0.4% | 1.2% |
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 Defence | The Wealth Company Ethical |
|---|---|---|
| Aerospace & Defense | 46.1% | 0.0% |
| Auto Components | 18.2% | 11.6% |
| IT - Software | 0.0% | 14.5% |
| Chemicals & Petrochemicals | 13.1% | 0.0% |
| Electrical Equipment | 5.1% | 7.9% |
| Consumer Durables | 0.0% | 7.4% |
| Agricultural, Commercial & Construction Vehicles | 6.2% | 0.0% |
| Industrial Manufacturing | 4.1% | 6.1% |
| Industrial Products | 0.2% | 5.7% |
| Automobiles | 4.7% | 1.8% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Defence vs The Wealth Company Ethical: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Defence Fund | The Wealth Company Ethical Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.90% | 1.15% |
| Base expense ratio (Direct) | 0.72% | 0.61% |
| Total expense ratio (Regular) | 1.80% | 2.76% |
| Base expense ratio (Regular) | 1.49% | 2.01% |
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 The Wealth Company Ethical Fund: Frequently Asked Questions
What is the difference between HDFC Defence Fund and The Wealth Company Ethical Fund?
HDFC Defence Fund is a Thematic fund, The Wealth Company Ethical Fund is a Thematic fund, run by HDFC Mutual Fund and The Wealth Company Mutual Fund. Their portfolios overlap 0.0%. HDFC Defence Fund charges 0.90% a year and The Wealth Company Ethical Fund 1.15%.
Which has given higher returns, HDFC Defence Fund or The Wealth Company Ethical Fund?
Over 1 year: HDFC Defence Fund +13.79%, The Wealth Company Ethical Fund −9.45%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Defence Fund or The Wealth Company Ethical Fund?
HDFC Defence Fund charges less: 0.90% a year against 1.15%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Defence Fund and The Wealth Company Ethical Fund overlap?
0.0%. They hold 0 of the same securities. From each fund's latest monthly portfolio.
Which is riskier, HDFC Defence Fund or The Wealth Company Ethical Fund?
On SEBI's riskometer, HDFC Defence Fund is rated Very High and The Wealth Company Ethical Fund Very High. Over 1 years, the standard deviation of daily returns was 22.90% and 14.84% a year.
Can I invest in both HDFC Defence Fund and The Wealth Company Ethical Fund?
Yes. 0.0% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages HDFC Defence Fund and The Wealth Company Ethical Fund?
HDFC Defence Fund: Rahul Baijal, Priya Ranjan, Gopal Agrawal, Bhagyesh Kagalkar. The Wealth Company Ethical Fund: Aparna Shanker, Saloni Kapadia.
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.