HDFC Floating Interest Rates Fund vs Nippon India Corporate Bond Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Floating Interest Rates Fund is a Floater fund and Nippon India Corporate Bond Fund is a Corporate Bond fund. In the 3 years to 30-10-2026, HDFC Floating Interest Rates Fund (Direct) returned 7.3% a year and Nippon India Corporate Bond Fund (Direct) returned 7.3% a year. HDFC Floating Interest Rates Fund charges 0.27% a year and Nippon India Corporate Bond Fund 0.37% (Direct plans). Their portfolios overlap 14.1%: they hold 20 of the same securities.
HDFC Floating Interest Rates Fund
Floater
- 3 year return
- 7.3%
- Expense ratio
- 0.27%
- NAV
- ₹54.90
Nippon India Corporate Bond Fund
Corporate Bond
- 3 year return
- 7.3%
- Expense ratio
- 0.37%
- NAV
- ₹67.03
Which is better, HDFC Floating Interest Rates or Nippon India Corporate Bond? 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 Floating Interest Rates returned more over 3 years: 7.3% a year against 7.3%.
- HDFC Floating Interest Rates costs less: 0.27% a year against 0.37% (Direct plans).
- HDFC Floating Interest Rates swung less over 3 years: a standard deviation of 0.7% a year against 1.1%.
- HDFC Floating Interest Rates fell less in its worst fall since 02-01-2013: −1.3% against −1.7%.
- HDFC Floating Interest Rates is the larger fund: ₹15,659 Cr against ₹8,907 Cr.
- Their portfolios overlap 14.1%: 20 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 | Nippon India Corporate Bond Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Nippon India Mutual Fund |
| Category | Floater | Corporate Bond |
| AUM | ₹15,659 Cr (30-09-2026) | ₹8,907 Cr (30-09-2026) |
| NAV | ₹54.90 (Direct) | ₹67.03 (Direct) |
| Expense ratio (Direct) | 0.27% | 0.37% |
| Expense ratio (Regular) | 0.50% | 0.75% |
| Riskometer | Moderate | Moderate |
| Benchmark | CRISIL Short Duration Debt A-II Index | NIFTY Corporate Bond Index A-II |
| Launch date | 16-01-2003 | 14-09-2000 |
| Minimum investment | ₹100 | 5000, 1000 |
| Lock in | None | None |
| Fund managers | Anil Bamboli, Gopal Agrawal | Vivek Sharma |
| Exit load | NIL | Nil |
HDFC Floating Interest Rates vs Nippon India Corporate Bond: 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% |
| Nippon India Corporate Bond Fund (Direct) | −0.29% | −0.02% | +2.36% | +4.02% | +7.28% | +6.65% | +7.16% |
| Floater average | −0.01% | +0.56% | +2.76% | +5.43% | +7.47% | +6.73% | +7.16% |
| Corporate Bond average | −0.24% | +0.05% | +2.31% | +4.00% | +7.02% | +6.20% | +6.98% |
Category average: the average of the 12 Floater funds and the 21 Corporate Bond funds, same plan type.
HDFC Floating Interest Rates vs Nippon India Corporate Bond: Year-wise Returns
| Year | HDFC Floating Interest RatesHDFC Floating Interest Rates | Nippon India Corporate BondNippon India Corporate Bond |
|---|---|---|
| 2026to date | +4.17% | +3.32% |
| 2025 | +8.13% | +8.18% |
| 2024 | +8.54% | +8.83% |
| 2023 | +7.87% | +7.51% |
| 2022 | +4.83% | +4.70% |
| 2021 | +4.36% | +5.13% |
HDFC Floating Interest Rates vs Nippon India Corporate Bond: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,620 of them, one for each trading day from 04-01-2016 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)
Nippon India Corporate Bond 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% |
| Nippon India Corporate Bond | 0.0 | 0.0 | 99.9 | 0.1 | 0.0 | 0.0 | 0.0 | 7.8% | 8.0% | 5.6% | 10.0% |
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 02-01-2013. Past returns do not promise future returns.
HDFC Floating Interest Rates vs Nippon India Corporate Bond: 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% |
| Nippon India Corporate BondNippon India Corporate Bond Fund (Direct) | ₹16,60,000 | ₹28,15,281 | ₹11,55,281 | 7.3% |
HDFC Floating Interest RatesHDFC Floating Interest Rates Fund (Direct)
Nippon India Corporate BondNippon India Corporate Bond 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 Nippon India Corporate Bond: 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) | Nippon India Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.17% | +4.02% |
| Standard deviation | 0.97% | 1.36% |
| Sharpe ratio | -0.07 | -0.91 |
| Sortino ratio | -0.10 | -1.24 |
| Maximum drawdown | −0.4% (23-10-2026) | −0.7% (23-10-2026) |
| 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) | Nippon India Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.35% | +7.28% |
| Standard deviation | 0.72% | 1.14% |
| Sharpe ratio | 1.83 | 1.10 |
| Sortino ratio | 2.72 | 1.64 |
| Maximum drawdown | −0.4% (23-10-2026) | −0.7% (23-10-2026) |
| 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) | Nippon India Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.78% | +6.65% |
| Standard deviation | 0.70% | 1.05% |
| Sharpe ratio | 1.39 | 0.81 |
| Sortino ratio | 1.97 | 1.14 |
| Maximum drawdown | −0.5% (06-05-2022) | −0.9% (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) | Nippon India Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.72% | +7.75% |
| Standard deviation | 0.78% | 1.09% |
| Sharpe ratio | 2.15 | 1.57 |
| Sortino ratio | 3.46 | 2.27 |
| Maximum drawdown | −1.3% (24-03-2020) | −1.7% (24-03-2020) |
| 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)
Nippon India Corporate Bond 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% |
| Nippon India Corporate Bond Fund (Direct) | −1.7% | 05-03-2020 | 24-03-2020 | 30-03-2020 | 6 days | −0.5% |
From daily values since 02-01-2013, 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)
Nippon India Corporate Bond 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)
Nippon India Corporate Bond 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)
Nippon India Corporate Bond Fund (Direct)
HDFC Floating Interest Rates vs Nippon India Corporate Bond: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Floating Interest Rates Fund, September 2026; Nippon India Corporate Bond Fund, September 2026
Holdings in common
- Overlap
- 14.1%
- Held by both
- 20
- Only in HDFC Floating Interest Rates
- 120
- Only in Nippon India Corporate Bond
- 96
| Security | % of HDFC Floating Interest Rates | % of Nippon India Corporate Bond |
|---|---|---|
| National Bank for Agri & Rural Dev. | 2.54% | 5.02% |
| Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 4.24% | 2.14% |
| Small Industries Development Bank | 1.76% | 1.69% |
| Small Industries Development Bank | 1.26% | 1.44% |
| Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 2.44% | 1.07% |
| Export - Import Bank of India | 0.95% | 0.78% |
| Tata Capital Ltd. | 0.64% | 0.84% |
| Power Finance Corporation Ltd. | 0.63% | 1.11% |
| Bajaj Housing Finance Ltd. | 0.63% | 0.83% |
| Power Finance Corporation Ltd. | 0.61% | 1.08% |
| Indian Railways Finance Corp. Ltd. | 0.32% | 0.46% |
| Small Industries Development Bank | 0.32% | 0.56% |
| Corporate Debt Market Development Fund | 0.32% | 0.33% |
| Bank of Baroda | 0.31% | 1.10% |
| REC Limited. | 0.32% | 0.22% |
| Poonawalla Fincorp Ltd | 0.96% | 0.17% |
| REC Limited. | 0.16% | 1.95% |
| Power Finance Corporation Ltd. | 0.16% | 0.29% |
| Power Finance Corporation Ltd. | 0.16% | 0.90% |
| National Bank for Agri & Rural Dev. | 2.23% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 14.1% means 14.1% 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% |
| Jubilant Beverages Limited | 3.12% |
| National Bank for Agri & Rural Dev. | 2.35% |
| Aadhar Housing Finance Limited | 1.92% |
Largest holdings only in Nippon India Corporate Bond Fund
| Security | % of fund |
|---|---|
| 8.45% Indian Railway Finance Corporation Limited | 2.46% |
| 7.79% Bajaj Finance Limited | 2.16% |
| 7.49% Small Industries Dev Bank of India | 1.95% |
| 7.54% Knowledge Realty Trust | 1.78% |
| 8.25% Bajaj Housing Finance Limited | 1.68% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Floating Interest Rates | Nippon India Corporate Bond |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 96.3% | 89.4% |
| Cash and others | 3.7% | 10.6% |
HDFC Floating Interest Rates vs Nippon India Corporate Bond: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Floating Interest Rates Fund | Nippon India Corporate Bond Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.27% | 0.37% |
| Base expense ratio (Direct) | 0.23% | 0.31% |
| Total expense ratio (Regular) | 0.50% | 0.75% |
| Base expense ratio (Regular) | 0.43% | 0.63% |
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 Nippon India Corporate Bond Fund: Frequently Asked Questions
What is the difference between HDFC Floating Interest Rates Fund and Nippon India Corporate Bond Fund?
HDFC Floating Interest Rates Fund is a Floater fund, Nippon India Corporate Bond Fund is a Corporate Bond fund, run by HDFC Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 14.1%. HDFC Floating Interest Rates Fund charges 0.27% a year and Nippon India Corporate Bond Fund 0.37%.
Which has given higher returns, HDFC Floating Interest Rates Fund or Nippon India Corporate Bond Fund?
Over 1 year: HDFC Floating Interest Rates Fund +5.17%, Nippon India Corporate Bond Fund +4.02%. Over 3 years: HDFC Floating Interest Rates Fund +7.35% a year, Nippon India Corporate Bond Fund +7.28% a year. Over 5 years: HDFC Floating Interest Rates Fund +6.78% a year, Nippon India Corporate Bond Fund +6.65% 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 Nippon India Corporate Bond Fund?
HDFC Floating Interest Rates Fund charges less: 0.27% a year against 0.37%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Floating Interest Rates Fund and Nippon India Corporate Bond Fund overlap?
14.1%. They hold 20 of the same securities, the largest shared ones being National Bank for Agri & Rural Dev., Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited), Small Industries Development Bank. From each fund's latest monthly portfolio.
Which is riskier, HDFC Floating Interest Rates Fund or Nippon India Corporate Bond Fund?
On SEBI's riskometer, HDFC Floating Interest Rates Fund is rated Moderate and Nippon India Corporate Bond Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.72% and 1.14% a year.
Which is better for SIP, HDFC Floating Interest Rates Fund or Nippon India Corporate Bond 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 ₹7,24,850 in Nippon India Corporate Bond Fund (XIRR 6.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Floating Interest Rates Fund and Nippon India Corporate Bond Fund?
Yes. 14.1% 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 Nippon India Corporate Bond Fund?
HDFC Floating Interest Rates Fund: Anil Bamboli, Gopal Agrawal. Nippon India Corporate Bond Fund: Vivek Sharma.
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.