HDFC Floating Interest Rates Fund vs HDFC Medium Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Floating Interest Rates Fund is a Floater fund and HDFC Medium Term Fund is a Medium Duration fund. In the 3 years to 30-10-2026, HDFC Floating Interest Rates Fund (Direct) returned 7.3% a year and HDFC Medium Term Fund (Direct) returned 7.7% a year. HDFC Floating Interest Rates Fund charges 0.27% a year and HDFC Medium Term Fund 0.70% (Direct plans). Their portfolios overlap 18.6%: they hold 23 of the same securities.
HDFC Floating Interest Rates Fund
Floater
- 3 year return
- 7.3%
- Expense ratio
- 0.27%
- NAV
- ₹54.90
HDFC Medium Term Fund
Medium Duration
- 3 year return
- 7.7%
- Expense ratio
- 0.70%
- NAV
- ₹65.92
Which is better, HDFC Floating Interest Rates or HDFC Medium Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Floating Interest Rates returned more over 5 years: 6.8% a year against 6.7%.
- HDFC Medium Term returned more over 3 years: 7.7% a year against 7.3%.
- HDFC Floating Interest Rates costs less: 0.27% a year against 0.70% (Direct plans).
- HDFC Floating Interest Rates swung less over 3 years: a standard deviation of 0.7% a year against 1.2%.
- HDFC Floating Interest Rates fell less in its worst fall since 01-01-2013: −1.3% against −3.5%.
- HDFC Floating Interest Rates is the larger fund: ₹15,659 Cr against ₹3,499 Cr.
- Their portfolios overlap 18.6%: 23 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 Floating Interest Rates Fund | HDFC Medium Term Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Floater | Medium Duration |
| AUM | ₹15,659 Cr (30-09-2026) | ₹3,499 Cr (30-09-2026) |
| NAV | ₹54.90 (Direct) | ₹65.92 (Direct) |
| Expense ratio (Direct) | 0.27% | 0.70% |
| Expense ratio (Regular) | 0.50% | 1.30% |
| Riskometer | Moderate | Moderately High |
| Benchmark | CRISIL Short Duration Debt A-II Index | NIFTY Medium Duration Debt Index A-III |
| Launch date | 16-01-2003 | 06-02-2002 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Anil Bamboli, Gopal Agrawal | Bhavyesh Divecha, Praveen Jain, Anil Bamboli, Gopal Agrawal |
| Exit load | NIL | NIL |
HDFC Floating Interest Rates vs HDFC Medium Term: 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 Floating Interest Rates Fund (Direct) | 0.00% | +0.53% | +2.57% | +5.17% | +7.35% | +6.78% | +7.16% |
| HDFC Medium Term Fund (Direct) | −0.13% | +0.40% | +3.01% | +5.43% | +7.71% | +6.68% | +7.36% |
| Floater average | −0.01% | +0.56% | +2.76% | +5.43% | +7.47% | +6.73% | +7.16% |
| Medium Duration average | −0.34% | −0.09% | +2.51% | +4.72% | +7.66% | +6.88% | +6.78% |
Category average: the average of the 12 Floater funds and the 13 Medium Duration funds, same plan type.
HDFC Floating Interest Rates vs HDFC Medium Term: Year-wise Returns
| Year | Floating Interest RatesHDFC Floating Interest Rates | Medium TermHDFC Medium Term |
|---|---|---|
| 2026to date | +4.17% | +4.40% |
| 2025 | +8.13% | +8.38% |
| 2024 | +8.54% | +8.79% |
| 2023 | +7.87% | +7.50% |
| 2022 | +4.83% | +3.60% |
| 2021 | +4.36% | +5.85% |
HDFC Floating Interest Rates vs HDFC Medium Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,621 of them, one for each trading day from 01-01-2016 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 Floating Interest Rates Fund (Direct)
HDFC Medium Term Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Floating Interest Rates | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.9% | 5.7% | 9.6% |
| HDFC Medium Term | 0.0 | 0.0 | 92.9 | 7.1 | 0.0 | 0.0 | 0.0 | 8.1% | 8.1% | 5.5% | 11.3% |
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. Every fund is measured over the days all of them have, from 01-01-2013. Past returns do not promise future returns.
HDFC Floating Interest Rates vs HDFC Medium Term: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Floating Interest RatesHDFC Floating Interest Rates Fund (Direct) | ₹16,60,000 | ₹28,17,225 | ₹11,57,225 | 7.3% |
| HDFC Medium TermHDFC Medium Term Fund (Direct) | ₹16,60,000 | ₹28,84,886 | ₹12,24,886 | 7.6% |
HDFC Floating Interest RatesHDFC Floating Interest Rates Fund (Direct)
HDFC Medium TermHDFC Medium Term 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 Floating Interest Rates vs HDFC Medium Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Floating Interest Rates Fund (Direct) | HDFC Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.17% | +5.43% |
| Standard deviation | 0.97% | 1.39% |
| Sharpe ratio | -0.07 | 0.13 |
| Sortino ratio | -0.10 | 0.19 |
| Maximum drawdown | −0.4% (23-10-2026) | −0.6% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Floating Interest Rates Fund (Direct) | HDFC Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.35% | +7.71% |
| Standard deviation | 0.72% | 1.16% |
| Sharpe ratio | 1.83 | 1.45 |
| Sortino ratio | 2.72 | 2.14 |
| Maximum drawdown | −0.4% (23-10-2026) | −0.6% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Floating Interest Rates Fund (Direct) | HDFC Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.78% | +6.68% |
| Standard deviation | 0.70% | 1.27% |
| Sharpe ratio | 1.39 | 0.69 |
| Sortino ratio | 1.97 | 0.92 |
| Maximum drawdown | −0.5% (06-05-2022) | −1.9% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Floating Interest Rates Fund (Direct) | HDFC Medium Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.72% | +8.02% |
| Standard deviation | 0.78% | 1.71% |
| Sharpe ratio | 2.15 | 1.15 |
| Sortino ratio | 3.46 | 1.62 |
| Maximum drawdown | −1.3% (24-03-2020) | −3.5% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Floating Interest Rates Fund (Direct)
HDFC Medium Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Floating Interest Rates Fund (Direct) | −1.3% | 06-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | −0.1% |
| HDFC Medium Term Fund (Direct) | −3.5% | 19-06-2013 | 19-08-2013 | 07-10-2013 | 49 days | −0.3% |
From daily values since 01-01-2013, 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 Floating Interest Rates Fund (Direct)
HDFC Medium Term Fund (Direct)
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 Floating Interest Rates Fund (Direct)
HDFC Medium Term Fund (Direct)
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 Floating Interest Rates Fund (Direct)
HDFC Medium Term Fund (Direct)
HDFC Floating Interest Rates vs HDFC Medium Term: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Floating Interest Rates Fund, September 2026; HDFC Medium Term Fund, September 2026
Holdings in common
- Overlap
- 18.6%
- Held by both
- 23
- Only in HDFC Floating Interest Rates
- 117
- Only in HDFC Medium Term
- 42
| Security | % of HDFC Floating Interest Rates | % of HDFC Medium Term |
|---|---|---|
| Jubilant Beverages Limited | 3.12% | 3.43% |
| Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 4.24% | 2.73% |
| National Bank for Agri & Rural Dev. | 2.54% | 3.55% |
| Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 2.44% | 4.78% |
| JTPM Metal Traders Limited | 0.79% | 2.31% |
| National Bank for Agri & Rural Dev. | 0.79% | 1.42% |
| Pipeline Infrastructure Pvt. Ltd. | 0.77% | 1.72% |
| Tata Power Renewable Energy Limited | 0.64% | 1.43% |
| Power Finance Corporation Ltd. | 0.63% | 2.12% |
| Truhome Finance Limited | 0.48% | 2.15% |
| Bajaj Housing Finance Ltd. | 0.43% | 1.94% |
| REC Limited. | 0.32% | 0.71% |
| Godrej Industries Ltd. | 0.32% | 1.43% |
| Small Industries Development Bank | 0.32% | 2.86% |
| Corporate Debt Market Development Fund | 0.32% | 0.36% |
| 6.94% GOI MAT 110536 | 0.31% | 2.11% |
| REC Limited. | 0.31% | 1.38% |
| Bajaj Housing Finance Ltd. | 0.31% | 0.83% |
| Power Finance Corporation Ltd. | 0.31% | 0.28% |
| NTPC Limited | 0.39% | 0.27% |
| JM FINANCIAL HOME LOANS LIMITED | 0.16% | 1.43% |
| Power Finance Corporation Ltd. | 0.16% | 0.70% |
| Jubilant Bevco Limited | 0.14% | 0.64% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.6% means 18.6% 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 Floating Interest Rates Fund
| Security | % of fund |
|---|---|
| 6.64% GOI MAT 071231 | 6.97% |
| Floating Rate GOI 2034 | 3.28% |
| National Bank for Agri & Rural Dev. | 2.35% |
| National Bank for Agri & Rural Dev. | 2.23% |
| Aadhar Housing Finance Limited | 1.92% |
Largest holdings only in HDFC Medium Term Fund
| Security | % of fund |
|---|---|
| GMR Airports Limited | 4.55% |
| 182 Days TBILL MAT 180327 | 3.48% |
| SK FINANCE LIMITED | 2.86% |
| Kalpataru Projects International Ltd | 2.85% |
| SBFC Finance Limited | 2.84% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Floating Interest Rates | HDFC Medium Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 96.3% | 93.1% |
| Cash and others | 3.7% | 6.9% |
HDFC Floating Interest Rates vs HDFC Medium Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Floating Interest Rates Fund | HDFC Medium Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.27% | 0.70% |
| Base expense ratio (Direct) | 0.23% | 0.59% |
| Total expense ratio (Regular) | 0.50% | 1.30% |
| Base expense ratio (Regular) | 0.43% | 1.11% |
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 Floating Interest Rates with
- HDFC Floating Interest Rates vs Axis Floating Interest Rates
- HDFC Floating Interest Rates vs Franklin India Floating Interest Rates
- HDFC Floating Interest Rates vs Bandhan Floating Interest Rates
- HDFC Floating Interest Rates vs ICICI Prudential Floating Interest Rates
- HDFC Floating Interest Rates vs Kotak Floating Interest Rates
HDFC Floating Interest Rates Fund vs HDFC Medium Term Fund: Frequently Asked Questions
What is the difference between HDFC Floating Interest Rates Fund and HDFC Medium Term Fund?
HDFC Floating Interest Rates Fund is a Floater fund, HDFC Medium Term Fund is a Medium Duration fund, run by HDFC Mutual Fund. Their portfolios overlap 18.6%. HDFC Floating Interest Rates Fund charges 0.27% a year and HDFC Medium Term Fund 0.70%.
Which has given higher returns, HDFC Floating Interest Rates Fund or HDFC Medium Term Fund?
Over 1 year: HDFC Floating Interest Rates Fund +5.17%, HDFC Medium Term Fund +5.43%. Over 3 years: HDFC Floating Interest Rates Fund +7.35% a year, HDFC Medium Term Fund +7.71% a year. Over 5 years: HDFC Floating Interest Rates Fund +6.78% a year, HDFC Medium Term Fund +6.68% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Floating Interest Rates Fund or HDFC Medium Term Fund?
HDFC Floating Interest Rates Fund charges less: 0.27% a year against 0.70%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Floating Interest Rates Fund and HDFC Medium Term Fund overlap?
18.6%. They hold 23 of the same securities, the largest shared ones being Jubilant Beverages Limited, Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited), National Bank for Agri & Rural Dev.. From each fund's latest monthly portfolio.
Which is riskier, HDFC Floating Interest Rates Fund or HDFC Medium Term Fund?
On SEBI's riskometer, HDFC Floating Interest Rates Fund is rated Moderate and HDFC Medium Term Fund Moderately High. Over 3 years, the standard deviation of daily returns was 0.72% and 1.16% a year.
Which is better for SIP, HDFC Floating Interest Rates Fund or HDFC Medium Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,30,459 in HDFC Floating Interest Rates Fund (XIRR 7.0% a year) and ₹7,31,997 in HDFC Medium Term Fund (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Floating Interest Rates Fund and HDFC Medium Term Fund?
Yes. 18.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Floating Interest Rates Fund and HDFC Medium Term Fund?
HDFC Floating Interest Rates Fund: Anil Bamboli, Gopal Agrawal. HDFC Medium Term Fund: Bhavyesh Divecha, Praveen Jain, Anil Bamboli, 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.