HDFC Dividend Yield Fund vs HDFC Retirement Fund - Hybrid-Equity Plan
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Dividend Yield Fund is a Dividend Yield fund and HDFC Retirement Fund - Hybrid-Equity Plan is a Solution fund. In the 3 years to 30-10-2026, HDFC Dividend Yield Fund (Direct) returned 10.7% a year and HDFC Retirement Fund - Hybrid-Equity Plan (Direct) returned 7.3% a year. HDFC Dividend Yield Fund charges 0.88% a year and HDFC Retirement Fund - Hybrid-Equity Plan 1.12% (Direct plans). Their portfolios overlap 41.8%: they hold 31 of the same securities.
HDFC Dividend Yield Fund
Dividend Yield
- 3 year return
- 10.7%
- Expense ratio
- 0.88%
- NAV
- ₹25.55
HDFC Retirement Fund - Hybrid-Equity Plan
Solution
- 3 year return
- 7.3%
- Expense ratio
- 1.12%
- NAV
- ₹41.17
Which is better, HDFC Dividend Yield or HDFC Retirement Fund - Hybrid-Equity Plan? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Dividend Yield returned more over 5 years: 12.4% a year against 8.6%.
- HDFC Dividend Yield returned more over 3 years: 10.7% a year against 7.3%.
- HDFC Dividend Yield costs less: 0.88% a year against 1.12% (Direct plans).
- HDFC Retirement Fund - Hybrid-Equity Plan swung less over 3 years: a standard deviation of 9.5% a year against 14.0%.
- HDFC Retirement Fund - Hybrid-Equity Plan fell less in its worst fall since 18-12-2020: −12.3% against −20.0%.
- HDFC Dividend Yield holds more in large companies: 62.6% of the fund in large caps against 44.8%.
- HDFC Dividend Yield is the larger fund: ₹5,274 Cr against ₹1,530 Cr.
- Their portfolios overlap 41.8%: 31 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 Dividend Yield Fund | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Dividend Yield | Solution |
| AUM | ₹5,274 Cr (30-09-2026) | ₹1,530 Cr (30-09-2026) |
| NAV | ₹25.55 (Direct) | ₹41.17 (Direct) |
| Expense ratio (Direct) | 0.88% | 1.12% |
| Expense ratio (Regular) | 1.92% | 2.14% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | NIFTY 50 Hybrid Composite Debt 65:35 Index (Total Returns Index) |
| Launch date | 18-12-2020 | 25-02-2016 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | 5 years, or until retirement if earlier |
| Fund managers | Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar | Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, Gopal Agrawal |
| Exit load | • Exit load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment of units. • No Exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment. | Nil |
HDFC Dividend Yield vs HDFC Retirement Fund - Hybrid-Equity Plan: 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 Dividend Yield Fund (Direct) | −1.10% | −5.04% | −2.02% | −6.99% | +10.67% | +12.37% | -- |
| HDFC Retirement Fund - Hybrid-Equity Plan (Direct) | +0.09% | −4.73% | −2.46% | −8.32% | +7.29% | +8.64% | +12.00% |
| Dividend Yield average | −1.57% | −5.69% | −3.24% | −5.57% | +12.14% | +12.06% | -- |
Category average: the average of the 12 Dividend Yield funds, same plan type.
HDFC Dividend Yield vs HDFC Retirement Fund - Hybrid-Equity Plan: Year-wise Returns
| Year | Dividend YieldHDFC Dividend Yield | Retirement Fund - Hybrid-Equity PlanHDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| 2026to date | −5.77% | −8.74% |
| 2025 | +4.43% | +6.58% |
| 2024 | +17.62% | +15.35% |
| 2023 | +39.88% | +26.44% |
| 2022 | +8.58% | +6.09% |
| 2021 | +44.24% | +26.22% |
HDFC Dividend Yield vs HDFC Retirement Fund - Hybrid-Equity Plan: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of HDFC Dividend Yield Fund
Rolling returns
Every 3-year holding period, 706 of them, one for each trading day from 18-12-2023 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 Dividend Yield Fund (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Nifty 500 TRI
to
Mar 2024Sept 2021
to
Sept 2024Mar 2022
to
Mar 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Dividend Yield | 0.0 | 0.0 | 2.1 | 10.5 | 32.9 | 24.9 | 29.6 | 21.3% | 20.5% | 9.3% | 31.9% | 100% |
| HDFC Retirement Fund - Hybrid-Equity Plan | 0.0 | 0.0 | 13.2 | 17.8 | 67.1 | 1.8 | 0.0 | 15.3% | 16.1% | 6.4% | 20.6% | 25% |
| Nifty 500 TRI | 0.0 | 0.0 | 2.7 | 26.8 | 59.3 | 11.2 | 0.0 | 16.4% | 16.5% | 8.8% | 22.3% | -- |
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. The benchmark is Nifty 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 18-12-2020. Past returns do not promise future returns.
HDFC Dividend Yield vs HDFC Retirement Fund - Hybrid-Equity Plan: 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 18-12-2020 to 30-10-2026: 71 instalments, ₹7,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Dividend YieldHDFC Dividend Yield Fund (Direct) | ₹7,10,000 | ₹10,03,681 | ₹2,93,681 | 11.6% |
| HDFC Retirement Fund - Hybrid-Equity PlanHDFC Retirement Fund - Hybrid-Equity Plan (Direct) | ₹7,10,000 | ₹8,92,615 | ₹1,82,615 | 7.7% |
HDFC Dividend YieldHDFC Dividend Yield Fund (Direct)
HDFC Retirement Fund - Hybrid-Equity PlanHDFC Retirement Fund - Hybrid-Equity Plan (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 Dividend Yield vs HDFC Retirement Fund - Hybrid-Equity Plan: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Dividend Yield Fund (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | −6.99% | −8.32% |
| Standard deviation | 13.25% | 10.08% |
| Sharpe ratio | -0.92 | -1.35 |
| Sortino ratio | -1.22 | -1.76 |
| Maximum drawdown | −14.1% (30-03-2026) | −12.1% (30-03-2026) |
| Beta | 0.91 | -- |
| Alpha | −0.77% | -- |
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 Dividend Yield Fund (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | +10.67% | +7.29% |
| Standard deviation | 14.05% | 9.45% |
| Sharpe ratio | 0.33 | 0.13 |
| Sortino ratio | 0.44 | 0.18 |
| Maximum drawdown | −20.0% (03-03-2025) | −12.3% (03-03-2025) |
| Beta | 0.97 | -- |
| Alpha | +0.59% | -- |
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 Dividend Yield Fund (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | +12.37% | +8.64% |
| Standard deviation | 13.90% | 9.47% |
| Sharpe ratio | 0.47 | 0.30 |
| Sortino ratio | 0.64 | 0.40 |
| Maximum drawdown | −20.0% (03-03-2025) | −12.3% (03-03-2025) |
| Beta | 0.95 | -- |
| Alpha | +3.72% | -- |
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 Dividend Yield Fund (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | +17.34% | +14.17% |
| Standard deviation | 13.73% | 10.66% |
| Sharpe ratio | 0.87 | 0.82 |
| Sortino ratio | 1.18 | 1.10 |
| Maximum drawdown | −20.0% (03-03-2025) | −27.5% (23-03-2020) |
| Beta | 0.91 | -- |
| Alpha | +5.00% | -- |
From daily NAVs, 18-12-2020 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 Dividend Yield Fund (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Dividend Yield Fund (Direct) | −20.0% | 27-09-2024 | 03-03-2025 | Not yet | -- | −10.2% |
| HDFC Retirement Fund - Hybrid-Equity Plan (Direct) | −12.3% | 26-09-2024 | 03-03-2025 | 20-10-2025 | 8 months | −9.3% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 18-12-2020, 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 Dividend Yield Fund (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Nifty 500 TRI
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 Dividend Yield Fund (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Nifty 500 TRI
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 Dividend Yield Fund (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Dividend Yield Fund (Direct) | 106% | 83% | 3.26% |
| HDFC Retirement Fund - Hybrid-Equity Plan (Direct) | 72% | 57% | 5.85% |
From month-end values since 18-12-2020. 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 Dividend Yield vs HDFC Retirement Fund - Hybrid-Equity Plan: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Dividend Yield Fund, September 2026; HDFC Retirement Fund - Hybrid-Equity Plan, September 2026
Holdings in common
- Overlap
- 41.8%
- Held by both
- 31
- Only in HDFC Dividend Yield
- 98
- Only in HDFC Retirement Fund - Hybrid-Equity Plan
- 42
| Security | % of HDFC Dividend Yield | % of HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| ICICI Bank Ltd. | 5.38% | 6.05% |
| HDFC Bank Ltd. | 4.97% | 5.56% |
| Axis Bank Ltd. | 3.72% | 3.21% |
| Kotak Mahindra Bank Limited | 2.45% | 3.54% |
| Bharti Airtel Ltd. | 2.62% | 2.30% |
| Reliance Industries Ltd. | 2.25% | 3.49% |
| Maruti Suzuki India Limited | 2.20% | 2.35% |
| State Bank of India | 2.00% | 3.14% |
| Larsen and Toubro Ltd. | 2.64% | 1.84% |
| HCL Technologies Ltd. | 1.68% | 1.61% |
| Infosys Limited | 1.42% | 1.95% |
| Sun Pharmaceutical Industries Ltd. | 2.14% | 1.19% |
| SBI Life Insurance Company Ltd. | 1.93% | 1.11% |
| ITC LIMITED | 1.07% | 1.20% |
| Cipla Ltd. | 1.11% | 0.88% |
| Bajaj Auto Limited | 1.96% | 0.85% |
| Tata Steel Ltd. | 1.40% | 0.84% |
| Embassy Office Parks REIT | 0.83% | 0.99% |
| NTPC Limited | 1.71% | 0.74% |
| HDFC Life Insurance Company Limited | 0.58% | 0.68% |
| Hindustan Petroleum Corp. Ltd. | 0.96% | 0.57% |
| PVR LIMITED | 0.57% | 0.71% |
| Blue Dart Express Ltd. | 0.57% | 0.61% |
| Godrej Consumer Products Ltd. | 0.48% | 0.56% |
| UTI Asset Management Company Ltd | 0.55% | 0.46% |
| SKF India (Industrial) Limited | 0.49% | 0.40% |
| Gland Pharma Ltd. | 0.28% | 0.95% |
| WEST COAST PAPER MILLS LIMITED | 0.28% | 0.44% |
| SKF India Ltd. | 0.27% | 0.69% |
| Voltamp Transformers Ltd. | 0.19% | 0.55% |
| Sonata Software Ltd. | 0.04% | 0.38% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.8% means 41.8% 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 Dividend Yield Fund
| Security | % of fund |
|---|---|
| Tech Mahindra Ltd. | 2.24% |
| STERLITE TECHNOLOGIES LIMITED | 1.81% |
| INFO EDGE (INDIA) LIMITED | 1.67% |
| Eicher Motors Ltd. | 1.57% |
| Indusind Bank Ltd. | 1.45% |
Largest holdings only in HDFC Retirement Fund - Hybrid-Equity Plan
| Security | % of fund |
|---|---|
| Bajaj Finance Ltd. | 4.46% |
| 7.26% GOI MAT 220832 | 1.98% |
| 6.1% GOI MAT 120731 | 1.96% |
| Power Grid Corporation of India Ltd. | 1.70% |
| Dr. Lal Path Labs Ltd | 1.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Dividend Yield | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Equity | 98.9% | 70.0% |
| Debt | 0.0% | 17.6% |
| Cash and others | 1.1% | 12.5% |
Market cap of stocks
| Market cap | HDFC Dividend Yield | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Large Cap | 62.6% | 44.8% |
| Mid Cap | 12.3% | 6.4% |
| Small Cap | 23.2% | 18.7% |
| Not on AMFI's list | 0.8% | 0.1% |
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 Dividend Yield | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Banks | 21.0% | 23.4% |
| IT - Software | 6.8% | 4.3% |
| Automobiles | 6.6% | 3.2% |
| Pharmaceuticals & Biotechnology | 6.6% | 4.6% |
| Finance | 4.5% | 0.8% |
| Telecom - Services | 4.2% | 2.3% |
| Petroleum Products | 3.4% | 4.1% |
| Insurance | 3.1% | 3.9% |
| Auto Components | 1.8% | 3.8% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Dividend Yield vs HDFC Retirement Fund - Hybrid-Equity Plan: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Dividend Yield Fund | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Total expense ratio (Direct) | 0.88% | 1.12% |
| Base expense ratio (Direct) | 0.72% | 0.92% |
| Total expense ratio (Regular) | 1.92% | 2.14% |
| Base expense ratio (Regular) | 1.60% | 1.81% |
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
HDFC Dividend Yield Fund vs HDFC Retirement Fund - Hybrid-Equity Plan: Frequently Asked Questions
What is the difference between HDFC Dividend Yield Fund and HDFC Retirement Fund - Hybrid-Equity Plan?
HDFC Dividend Yield Fund is a Dividend Yield fund, HDFC Retirement Fund - Hybrid-Equity Plan is a Solution fund, run by HDFC Mutual Fund. Their portfolios overlap 41.8%. HDFC Dividend Yield Fund charges 0.88% a year and HDFC Retirement Fund - Hybrid-Equity Plan 1.12%.
Which has given higher returns, HDFC Dividend Yield Fund or HDFC Retirement Fund - Hybrid-Equity Plan?
Over 1 year: HDFC Dividend Yield Fund −6.99%, HDFC Retirement Fund - Hybrid-Equity Plan −8.32%. Over 3 years: HDFC Dividend Yield Fund +10.67% a year, HDFC Retirement Fund - Hybrid-Equity Plan +7.29% a year. Over 5 years: HDFC Dividend Yield Fund +12.37% a year, HDFC Retirement Fund - Hybrid-Equity Plan +8.64% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Dividend Yield Fund or HDFC Retirement Fund - Hybrid-Equity Plan?
HDFC Dividend Yield Fund charges less: 0.88% a year against 1.12%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Dividend Yield Fund and HDFC Retirement Fund - Hybrid-Equity Plan overlap?
41.8%. They hold 31 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Dividend Yield Fund or HDFC Retirement Fund - Hybrid-Equity Plan?
On SEBI's riskometer, HDFC Dividend Yield Fund is rated Very High and HDFC Retirement Fund - Hybrid-Equity Plan Very High. Over 3 years, the standard deviation of daily returns was 14.05% and 9.45% a year.
Which is better for SIP, HDFC Dividend Yield Fund or HDFC Retirement Fund - Hybrid-Equity Plan?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,77,509 in HDFC Dividend Yield Fund (XIRR 9.5% a year) and ₹7,17,725 in HDFC Retirement Fund - Hybrid-Equity Plan (XIRR 6.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Dividend Yield Fund and HDFC Retirement Fund - Hybrid-Equity Plan?
Yes. 41.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Dividend Yield Fund and HDFC Retirement Fund - Hybrid-Equity Plan?
HDFC Dividend Yield Fund: Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar. HDFC Retirement Fund - Hybrid-Equity Plan: Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, 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.