HDFC Dividend Yield Fund vs HDFC Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Dividend Yield Fund is a Dividend Yield fund and HDFC Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, HDFC Dividend Yield Fund (Direct) returned 10.7% a year and HDFC Value Fund (Direct) returned 15.1% a year. HDFC Dividend Yield Fund charges 0.88% a year and HDFC Value Fund 1.11% (Direct plans). Their portfolios overlap 48.7%: they hold 37 of the same securities.
HDFC Dividend Yield Fund
Dividend Yield
- 3 year return
- 10.7%
- Expense ratio
- 0.88%
- NAV
- ₹25.55
Which is better, HDFC Dividend Yield or HDFC Value? 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 12.3%.
- HDFC Value returned more over 3 years: 15.1% a year against 10.7%.
- HDFC Dividend Yield costs less: 0.88% a year against 1.11% (Direct plans).
- HDFC Value swung less over 3 years: a standard deviation of 13.7% a year against 14.0%.
- HDFC Value fell less in its worst fall since 18-12-2020: −18.4% against −20.0%.
- HDFC Value is the larger fund: ₹8,039 Cr against ₹5,274 Cr.
- Their portfolios overlap 48.7%: 37 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 Value Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Dividend Yield | Value and Contra |
| AUM | ₹5,274 Cr (30-09-2026) | ₹8,039 Cr (30-09-2026) |
| NAV | ₹25.55 (Direct) | ₹848.85 (Direct) |
| Expense ratio (Direct) | 0.88% | 1.11% |
| Expense ratio (Regular) | 1.92% | 1.88% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 18-12-2020 | 01-02-1994 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar | Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar |
| 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. | In respect of each purchase / switch-in of units, an Exit Load of 0.25% is payable if Units are redeemed/ switched-out within 1 month from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 1 month from the date of allotment. |
HDFC Dividend Yield vs HDFC Value: 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 Value Fund (Direct) | −1.58% | −4.12% | +1.58% | −1.48% | +15.13% | +12.33% | +13.72% |
| Dividend Yield average | −1.57% | −5.69% | −3.24% | −5.57% | +12.14% | +12.06% | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
Category average: the average of the 12 Dividend Yield funds and the 30 Value and Contra funds, same plan type.
HDFC Dividend Yield vs HDFC Value: Year-wise Returns
| Year | Dividend YieldHDFC Dividend Yield | ValueHDFC Value | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −5.77% | −1.84% | −7.51% |
| 2025 | +4.43% | +9.51% | +7.76% |
| 2024 | +17.62% | +21.73% | +16.24% |
| 2023 | +39.88% | +30.73% | +26.91% |
| 2022 | +8.58% | +4.58% | +4.25% |
| 2021 | +44.24% | +36.87% | +31.60% |
HDFC Dividend Yield vs HDFC Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
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 Value Fund (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 Value | 0.0 | 0.0 | 0.0 | 3.0 | 42.9 | 52.0 | 2.1 | 20.1% | 20.2% | 14.0% | 26.8% | 100% |
| 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 Value: 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 ValueHDFC Value Fund (Direct) | ₹7,10,000 | ₹10,53,214 | ₹3,43,214 | 13.2% |
HDFC Dividend YieldHDFC Dividend Yield Fund (Direct)
HDFC ValueHDFC Value 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 Dividend Yield vs HDFC Value: 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 Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.99% | −1.48% |
| Standard deviation | 13.25% | 14.15% |
| Sharpe ratio | -0.92 | -0.48 |
| Sortino ratio | -1.22 | -0.65 |
| Maximum drawdown | −14.1% (30-03-2026) | −13.8% (31-03-2026) |
| Beta | 0.91 | 0.97 |
| Alpha | −0.77% | +5.47% |
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 Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.67% | +15.13% |
| Standard deviation | 14.05% | 13.73% |
| Sharpe ratio | 0.33 | 0.66 |
| Sortino ratio | 0.44 | 0.91 |
| Maximum drawdown | −20.0% (03-03-2025) | −18.2% (28-02-2025) |
| Beta | 0.97 | 0.95 |
| Alpha | +0.59% | +5.13% |
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 Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.37% | +12.33% |
| Standard deviation | 13.90% | 13.81% |
| Sharpe ratio | 0.47 | 0.47 |
| Sortino ratio | 0.64 | 0.64 |
| Maximum drawdown | −20.0% (03-03-2025) | −18.4% (20-06-2022) |
| Beta | 0.95 | 0.94 |
| Alpha | +3.72% | +3.68% |
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 Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.34% | +15.36% |
| Standard deviation | 13.73% | 15.62% |
| Sharpe ratio | 0.87 | 0.60 |
| Sortino ratio | 1.18 | 0.80 |
| Maximum drawdown | −20.0% (03-03-2025) | −43.9% (23-03-2020) |
| Beta | 0.91 | 0.96 |
| Alpha | +5.00% | +2.76% |
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 Value Fund (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 Value Fund (Direct) | −18.4% | 17-01-2022 | 20-06-2022 | 01-11-2022 | 4 months | −6.2% |
| 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 Value Fund (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 Value Fund (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 Value Fund (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 Value Fund (Direct) | 108% | 92% | 3.10% |
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 Value: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Dividend Yield Fund, September 2026; HDFC Value Fund, September 2026
Holdings in common
- Overlap
- 48.7%
- Held by both
- 37
- Only in HDFC Dividend Yield
- 92
- Only in HDFC Value
- 43
| Security | % of HDFC Dividend Yield | % of HDFC Value |
|---|---|---|
| ICICI Bank Ltd. | 5.38% | 6.17% |
| HDFC Bank Ltd. | 4.97% | 4.56% |
| Axis Bank Ltd. | 3.72% | 3.20% |
| Bharti Airtel Ltd. | 2.62% | 2.84% |
| Larsen and Toubro Ltd. | 2.64% | 2.46% |
| Sun Pharmaceutical Industries Ltd. | 2.14% | 2.20% |
| State Bank of India | 2.00% | 3.16% |
| Reliance Industries Ltd. | 2.25% | 1.85% |
| SBI Life Insurance Company Ltd. | 1.93% | 1.85% |
| NTPC Limited | 1.71% | 2.01% |
| Tech Mahindra Ltd. | 2.24% | 1.61% |
| Maruti Suzuki India Limited | 2.20% | 1.61% |
| STERLITE TECHNOLOGIES LIMITED | 1.81% | 1.58% |
| Infosys Limited | 1.42% | 1.98% |
| HCL Technologies Ltd. | 1.68% | 1.38% |
| Eicher Motors Ltd. | 1.57% | 1.33% |
| Bajaj Auto Limited | 1.96% | 1.15% |
| Hindustan Unilever Ltd. | 1.02% | 0.94% |
| INFO EDGE (INDIA) LIMITED | 1.67% | 0.87% |
| Ambuja Cements Ltd. | 0.92% | 0.79% |
| Bosch Limited | 0.71% | 1.70% |
| Indusind Bank Ltd. | 1.45% | 0.70% |
| Divis Laboratories Ltd. | 0.70% | 1.62% |
| PNB Housing Finance Ltd. | 0.68% | 1.33% |
| Hindustan Petroleum Corp. Ltd. | 0.96% | 0.64% |
| Tata Communications Limited | 0.63% | 0.94% |
| Bharat Electronics Ltd. | 0.63% | 1.93% |
| HDFC Life Insurance Company Limited | 0.58% | 0.97% |
| CESC Ltd. | 0.76% | 0.52% |
| Godrej Consumer Products Ltd. | 0.48% | 0.97% |
| InterGlobe Aviation Ltd. | 0.45% | 0.93% |
| Lupin Ltd. | 0.35% | 1.20% |
| Electronics Mart India Ltd | 0.33% | 0.88% |
| Cummins India Ltd. | 0.72% | 0.30% |
| Rubicon Research Limited | 0.25% | 0.45% |
| Techno Electric & Engin. Co. Ltd. | 0.14% | 0.50% |
| Popular Vehicles and Services Limited | 0.15% | 0.11% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.7% means 48.7% 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 |
|---|---|
| Kotak Mahindra Bank Limited | 2.45% |
| Tata Steel Ltd. | 1.40% |
| Tata Consultancy Services Ltd. | 1.29% |
| Aster DM Quality Care Limited | 1.23% |
| Coal India Ltd. | 1.17% |
Largest holdings only in HDFC Value Fund
| Security | % of fund |
|---|---|
| Au Small Finance Bank Ltd. | 2.19% |
| Eternal Limited | 1.75% |
| ACME Solar Holdings Limited | 1.64% |
| The Phoenix Mills Limited | 1.56% |
| Prestige Estates Projects Ltd. | 1.46% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Dividend Yield | HDFC Value |
|---|---|---|
| Equity | 98.9% | 98.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.1% | 1.5% |
Market cap of stocks
| Market cap | HDFC Dividend Yield | HDFC Value |
|---|---|---|
| Large Cap | 62.6% | 56.6% |
| Mid Cap | 12.3% | 22.7% |
| Small Cap | 23.2% | 18.2% |
| Not on AMFI's list | 0.8% | 1.0% |
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 Dividend Yield | HDFC Value |
|---|---|---|
| Banks | 21.0% | 21.9% |
| Pharmaceuticals & Biotechnology | 6.6% | 6.9% |
| IT - Software | 6.8% | 6.0% |
| Automobiles | 6.6% | 5.0% |
| Finance | 4.5% | 5.7% |
| Auto Components | 1.8% | 4.7% |
| Telecom - Services | 4.2% | 3.8% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Dividend Yield vs HDFC Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Dividend Yield Fund | HDFC Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.88% | 1.11% |
| Base expense ratio (Direct) | 0.72% | 0.87% |
| Total expense ratio (Regular) | 1.92% | 1.88% |
| Base expense ratio (Regular) | 1.60% | 1.53% |
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 Dividend Yield with
HDFC Dividend Yield Fund vs HDFC Value Fund: Frequently Asked Questions
What is the difference between HDFC Dividend Yield Fund and HDFC Value Fund?
HDFC Dividend Yield Fund is a Dividend Yield fund, HDFC Value Fund is a Value and Contra fund, run by HDFC Mutual Fund. Their portfolios overlap 48.7%. HDFC Dividend Yield Fund charges 0.88% a year and HDFC Value Fund 1.11%.
Which has given higher returns, HDFC Dividend Yield Fund or HDFC Value Fund?
Over 1 year: HDFC Dividend Yield Fund −6.99%, HDFC Value Fund −1.48%. Over 3 years: HDFC Dividend Yield Fund +10.67% a year, HDFC Value Fund +15.13% a year. Over 5 years: HDFC Dividend Yield Fund +12.37% a year, HDFC Value Fund +12.33% 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 Value Fund?
HDFC Dividend Yield Fund charges less: 0.88% a year against 1.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Dividend Yield Fund and HDFC Value Fund overlap?
48.7%. They hold 37 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 Value Fund?
On SEBI's riskometer, HDFC Dividend Yield Fund is rated Very High and HDFC Value Fund Very High. Over 3 years, the standard deviation of daily returns was 14.05% and 13.73% a year.
Which is better for SIP, HDFC Dividend Yield Fund or HDFC Value Fund?
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 ₹8,31,781 in HDFC Value Fund (XIRR 12.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Dividend Yield Fund and HDFC Value Fund?
Yes. 48.7% 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 Value Fund?
HDFC Dividend Yield Fund: Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar. HDFC Value Fund: Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar.
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.