HDFC Flexi Cap Fund vs Parag Parikh Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Flexi Cap Fund and Parag Parikh Flexi Cap Fund are both Flexi Cap funds. In the 3 years to 30-10-2026, HDFC Flexi Cap Fund (Direct) returned 15.8% a year and Parag Parikh Flexi Cap Fund (Direct) returned 12.6% a year. HDFC Flexi Cap Fund charges 0.75% a year and Parag Parikh Flexi Cap Fund 0.69% (Direct plans). Their portfolios overlap 29.6%: they hold 12 of the same securities.
Parag Parikh Flexi Cap Fund
Flexi Cap
- 3 year return
- 12.6%
- Expense ratio
- 0.69%
- NAV
- ₹88.96
Which is better, HDFC Flexi Cap or Parag Parikh Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Flexi Cap returned more over 5 years: 15.5% a year against 10.8%.
- HDFC Flexi Cap returned more over 3 years: 15.8% a year against 12.6%.
- Parag Parikh Flexi Cap costs less: 0.69% a year against 0.75% (Direct plans).
- Parag Parikh Flexi Cap swung less over 3 years: a standard deviation of 9.7% a year against 12.0%.
- Parag Parikh Flexi Cap fell less in its worst fall since 28-05-2013: −31.2% against −41.8%.
- Parag Parikh Flexi Cap holds 11.9% of the fund in foreign stocks; HDFC Flexi Cap 0.0%.
- Parag Parikh Flexi Cap is the larger fund: ₹1,45,071 Cr against ₹1,08,547 Cr.
- Their portfolios overlap 29.6%: 12 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 Flexi Cap Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | PPFAS Mutual Fund |
| Category | Flexi Cap | Flexi Cap |
| AUM | ₹1,08,547 Cr (30-09-2026) | ₹1,45,071 Cr (30-09-2026) |
| NAV | ₹2,187.57 (Direct) | ₹88.96 (Direct) |
| Expense ratio (Direct) | 0.75% | 0.69% |
| Expense ratio (Regular) | 1.36% | 1.30% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 01-01-1995 | 24-05-2013 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Amit Ganatra, Gopal Agrawal, Bhagyesh Kagalkar | Rajeev Thakkar, Rukun Tarachandani, Raj Mehta, Raunak Onkar, Tejas Soman, Mansi Kariya, Aishwarya Dhar |
| Exit load | In respect of each purchase/switch-in of units, an Exit Load of 1.00% is payable if Units are edeemed/switched-out within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed/ switched-out after 1 year from the date of allotment. | For units above 10% of the investment, exit load of 2% if redeemed within 365 days and 1% if redeemed after 365 days but on or before 730 days. |
HDFC Flexi Cap vs Parag Parikh Flexi Cap: 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 Flexi Cap Fund (Direct) | +0.85% | −3.44% | +2.37% | −4.02% | +15.76% | +15.53% | +15.31% |
| Parag Parikh Flexi Cap Fund (Direct) | +0.27% | −2.25% | −2.67% | −6.97% | +12.57% | +10.85% | +16.65% |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
Category average: the average of the 46 Flexi Cap funds, same plan type.
HDFC Flexi Cap vs Parag Parikh Flexi Cap: Year-wise Returns
| Year | HDFCHDFC Flexi Cap | Parag ParikhParag Parikh Flexi Cap | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −3.74% | −6.52% | −7.51% |
| 2025 | +12.16% | +8.55% | +7.76% |
| 2024 | +24.33% | +24.81% | +16.24% |
| 2023 | +31.45% | +37.64% | +26.91% |
| 2022 | +19.09% | −6.29% | +4.25% |
| 2021 | +37.00% | +46.97% | +31.60% |
HDFC Flexi Cap vs Parag Parikh Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,568 of them, one for each trading day from 30-05-2016 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 Flexi Cap Fund (Direct)
Parag Parikh Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Mar 2017Jan 2016
to
Jan 2019Oct 2017
to
Oct 2020Jul 2019
to
Jul 2022Apr 2021
to
Apr 2024Dec 2022
to
Dec 2025
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 Flexi Cap | 5.3 | 3.3 | 7.4 | 23.2 | 20.6 | 20.4 | 19.8 | 17.4% | 17.9% | −7.7% | 40.2% | 62% |
| Parag Parikh Flexi Cap | 0.0 | 0.6 | 2.2 | 29.2 | 21.4 | 34.1 | 12.5 | 19.0% | 19.0% | 0.7% | 37.6% | 95% |
| Nifty 500 TRI | 2.0 | 4.5 | 7.5 | 35.3 | 36.0 | 11.8 | 3.0 | 14.8% | 15.1% | −6.3% | 33.5% | -- |
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 28-05-2013. Past returns do not promise future returns.
HDFC Flexi Cap vs Parag Parikh Flexi Cap: 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 02-05-2013 to 30-10-2026: 162 instalments, ₹16,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Flexi CapHDFC Flexi Cap Fund (Direct) | ₹16,20,000 | ₹52,15,867 | ₹35,95,867 | 16.0% |
| Parag Parikh Flexi CapParag Parikh Flexi Cap Fund (Direct) | ₹16,20,000 | ₹54,77,858 | ₹38,57,858 | 16.6% |
HDFC Flexi CapHDFC Flexi Cap Fund (Direct)
Parag Parikh Flexi CapParag Parikh Flexi Cap 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 Flexi Cap vs Parag Parikh Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Flexi Cap Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.02% | −6.97% |
| Standard deviation | 13.04% | 9.20% |
| Sharpe ratio | -0.71 | -1.33 |
| Sortino ratio | -0.95 | -1.78 |
| Maximum drawdown | −13.3% (31-03-2026) | −10.8% (30-03-2026) |
| Beta | 0.87 | 0.56 |
| Alpha | +1.73% | −4.97% |
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 Flexi Cap Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.76% | +12.57% |
| Standard deviation | 11.98% | 9.75% |
| Sharpe ratio | 0.81 | 0.67 |
| Sortino ratio | 1.14 | 0.95 |
| Maximum drawdown | −13.3% (31-03-2026) | −11.0% (30-03-2026) |
| Beta | 0.80 | 0.60 |
| Alpha | +6.37% | +3.89% |
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 Flexi Cap Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.53% | +10.85% |
| Standard deviation | 12.67% | 11.35% |
| Sharpe ratio | 0.77 | 0.45 |
| Sortino ratio | 1.07 | 0.62 |
| Maximum drawdown | −13.3% (31-03-2026) | −17.8% (17-06-2022) |
| Beta | 0.84 | 0.67 |
| Alpha | +7.19% | +3.00% |
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 Flexi Cap Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.54% | +17.69% |
| Standard deviation | 16.85% | 11.74% |
| Sharpe ratio | 0.56 | 1.00 |
| Sortino ratio | 0.77 | 1.39 |
| Maximum drawdown | −41.8% (23-03-2020) | −31.2% (24-03-2020) |
| Beta | 1.00 | 0.59 |
| Alpha | +2.65% | +7.39% |
From daily NAVs, 01-01-2013 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 Flexi Cap Fund (Direct)
Parag Parikh Flexi Cap 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 Flexi Cap Fund (Direct) | −41.8% | 04-07-2019 | 23-03-2020 | 09-12-2020 | 9 months | −5.1% |
| Parag Parikh Flexi Cap Fund (Direct) | −31.2% | 13-02-2020 | 24-03-2020 | 07-07-2020 | 3 months | −7.1% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 28-05-2013, 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 Flexi Cap Fund (Direct)
Parag Parikh Flexi Cap 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 Flexi Cap Fund (Direct)
Parag Parikh Flexi Cap 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 Flexi Cap Fund (Direct)
Parag Parikh Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Flexi Cap Fund (Direct) | 108% | 97% | 5.95% |
| Parag Parikh Flexi Cap Fund (Direct) | 82% | 44% | 8.48% |
From month-end values since 28-05-2013. 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 Flexi Cap vs Parag Parikh Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Flexi Cap Fund, September 2026; Parag Parikh Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 29.6%
- Held by both
- 12
- Only in HDFC Flexi Cap
- 72
- Only in Parag Parikh Flexi Cap
- 61
| Security | % of HDFC Flexi Cap | % of Parag Parikh Flexi Cap |
|---|---|---|
| HDFC Bank Ltd. | 6.03% | 7.75% |
| ICICI Bank Ltd. | 8.80% | 5.24% |
| Kotak Mahindra Bank Limited | 3.40% | 4.44% |
| Axis Bank Ltd. | 6.11% | 2.85% |
| Bharti Airtel Ltd. | 2.62% | 2.91% |
| HCL Technologies Ltd. | 2.44% | 3.96% |
| Maruti Suzuki India Limited | 2.57% | 2.40% |
| Power Grid Corporation of India Ltd. | 2.11% | 5.60% |
| Cipla Ltd. | 2.47% | 1.33% |
| Embassy Office Parks REIT | 0.59% | 2.49% |
| Infosys Limited | 0.46% | 2.93% |
| CIE Automotive India Ltd | 0.36% | 0.17% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.6% means 29.6% 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 Flexi Cap Fund
| Security | % of fund |
|---|---|
| State Bank of India | 3.94% |
| Eternal Limited | 3.46% |
| SBI Life Insurance Company Ltd. | 3.25% |
| Larsen and Toubro Ltd. | 3.08% |
| InterGlobe Aviation Ltd. | 2.99% |
Largest holdings only in Parag Parikh Flexi Cap Fund
| Security | % of fund |
|---|---|
| ITC Limited | 5.49% |
| Coal India Limited | 5.39% |
| Bajaj Holdings & Investment Limited | 4.96% |
| Mahindra & Mahindra Limited | 3.89% |
| Tata Consultancy Services Limited | 2.50% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Flexi Cap | Parag Parikh Flexi Cap |
|---|---|---|
| Equity | 95.0% | 84.0% |
| Debt | 0.5% | 3.9% |
| Cash and others | 4.6% | 12.2% |
Market cap of stocks
| Market cap | HDFC Flexi Cap | Parag Parikh Flexi Cap |
|---|---|---|
| Large Cap | 69.9% | 64.3% |
| Mid Cap | 14.5% | 3.6% |
| Small Cap | 9.8% | 4.2% |
| Foreign stocks | 0.0% | 11.9% |
| Not on AMFI's list | 0.7% | 0.0% |
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 Flexi Cap | Parag Parikh Flexi Cap |
|---|---|---|
| Banks | 28.3% | 20.3% |
| IT - Software | 4.9% | 9.4% |
| Pharmaceuticals & Biotechnology | 8.4% | 4.1% |
| Automobiles | 8.2% | 6.3% |
| Computer Software: Programming, Data Processing | 0.0% | 7.1% |
| Retailing | 5.8% | 0.0% |
| Power | 2.8% | 5.6% |
| Diversified FMCG | 0.0% | 5.5% |
| Healthcare Services | 4.1% | 0.3% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Flexi Cap vs Parag Parikh Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Flexi Cap Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.75% | 0.69% |
| Base expense ratio (Direct) | 0.57% | 0.53% |
| Total expense ratio (Regular) | 1.36% | 1.30% |
| Base expense ratio (Regular) | 1.08% | 1.05% |
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 Flexi Cap with
HDFC Flexi Cap Fund vs Parag Parikh Flexi Cap Fund: Frequently Asked Questions
What is the difference between HDFC Flexi Cap Fund and Parag Parikh Flexi Cap Fund?
Both are Flexi Cap funds, run by HDFC Mutual Fund and PPFAS Mutual Fund. Their portfolios overlap 29.6%. HDFC Flexi Cap Fund charges 0.75% a year and Parag Parikh Flexi Cap Fund 0.69%.
Which has given higher returns, HDFC Flexi Cap Fund or Parag Parikh Flexi Cap Fund?
Over 1 year: HDFC Flexi Cap Fund −4.02%, Parag Parikh Flexi Cap Fund −6.97%. Over 3 years: HDFC Flexi Cap Fund +15.76% a year, Parag Parikh Flexi Cap Fund +12.57% a year. Over 5 years: HDFC Flexi Cap Fund +15.53% a year, Parag Parikh Flexi Cap Fund +10.85% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Flexi Cap Fund or Parag Parikh Flexi Cap Fund?
Parag Parikh Flexi Cap Fund charges less: 0.69% a year against 0.75%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Flexi Cap Fund and Parag Parikh Flexi Cap Fund overlap?
29.6%. They hold 12 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Flexi Cap Fund or Parag Parikh Flexi Cap Fund?
On SEBI's riskometer, HDFC Flexi Cap Fund is rated Very High and Parag Parikh Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 11.98% and 9.75% a year.
Which is better for SIP, HDFC Flexi Cap Fund or Parag Parikh Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,59,985 in HDFC Flexi Cap Fund (XIRR 13.5% a year) and ₹7,94,331 in Parag Parikh Flexi Cap Fund (XIRR 10.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Flexi Cap Fund and Parag Parikh Flexi Cap Fund?
Yes. 29.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Flexi Cap Fund and Parag Parikh Flexi Cap Fund?
HDFC Flexi Cap Fund: Amit Ganatra, Gopal Agrawal, Bhagyesh Kagalkar. Parag Parikh Flexi Cap Fund: Rajeev Thakkar, Rukun Tarachandani, Raj Mehta, Raunak Onkar, Tejas Soman, Mansi Kariya, Aishwarya Dhar.
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.