HDFC Focused Fund vs HDFC NIFTY Top 20 Equal Weight Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Focused Fund is a Focused fund and HDFC NIFTY Top 20 Equal Weight Index Fund is an Index fund. In the year to 30-10-2026, HDFC Focused Fund (Direct) returned −5.0% and HDFC NIFTY Top 20 Equal Weight Index Fund (Direct) returned −9.2%. HDFC Focused Fund charges 0.83% a year and HDFC NIFTY Top 20 Equal Weight Index Fund 0.37% (Direct plans). Their portfolios overlap 44.5%: they hold 10 of the same securities.
HDFC NIFTY Top 20 Equal Weight Index Fund
Index
- 1 year return
- −9.2%
- Expense ratio
- 0.37%
- NAV
- ₹9.92
Which is better, HDFC Focused or HDFC NIFTY Top 20 Equal Weight Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Focused returned more over 1 year: −5.0% against −9.2%.
- HDFC NIFTY Top 20 Equal Weight Index costs less: 0.37% a year against 0.83% (Direct plans).
- HDFC Focused fell less in its worst fall since 25-03-2025: −14.0% against −16.1%.
- HDFC NIFTY Top 20 Equal Weight Index holds more in large companies: 100.2% of the fund in large caps against 74.2%.
- HDFC Focused is the larger fund: ₹26,553 Cr against ₹88 Cr.
- Their portfolios overlap 44.5%: 10 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 Focused Fund | HDFC NIFTY Top 20 Equal Weight Index Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Focused | Index |
| AUM | ₹26,553 Cr (30-09-2026) | ₹88 Cr (30-09-2026) |
| NAV | ₹259.60 (Direct) | ₹9.92 (Direct) |
| Expense ratio (Direct) | 0.83% | 0.37% |
| Expense ratio (Regular) | 1.71% | 0.84% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty Top 20 Equal Weight TRI |
| Launch date | 17-09-2004 | 25-03-2025 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Amar Kalkundrikar, Gopal Agrawal, Bhagyesh Kagalkar | Nandita Menezes, Arun Agarwal |
| Exit load | In respect of each purchase/ switch-in of units, an Exit Load of 1.00% is payable if Units are redeemed/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. | NIL |
HDFC Focused vs HDFC NIFTY Top 20 Equal Weight Index: 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 Focused Fund (Direct) | +1.31% | −3.40% | +2.13% | −4.98% | +15.40% | +15.90% | +14.35% |
| HDFC NIFTY Top 20 Equal Weight Index Fund (Direct) | +3.83% | −3.77% | −0.40% | −9.19% | -- | -- | -- |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | +10.21% | +13.15% |
Category average: the average of the 28 Focused funds, same plan type.
HDFC Focused vs HDFC NIFTY Top 20 Equal Weight Index: Year-wise Returns
| Year | FocusedHDFC Focused | NIFTY Top 20 Equal Weight IndexHDFC NIFTY Top 20 Equal Weight Index |
|---|---|---|
| 2026to date | −4.54% | −10.45% |
| 2025 | +12.05% | -- |
| 2024 | +25.44% | -- |
| 2023 | +31.32% | -- |
| 2022 | +19.93% | -- |
| 2021 | +41.78% | -- |
HDFC Focused vs HDFC NIFTY Top 20 Equal Weight Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of HDFC Focused Fund
Rolling returns
Every 1-year holding period, 147 of them, one for each trading day from 25-03-2026 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 Focused Fund (Direct)
HDFC NIFTY Top 20 Equal Weight Index Fund (Direct)
Nifty 500 TRI
to
Apr 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 Focused | 39.5 | 48.3 | 11.6 | 0.7 | 0.0 | 0.0 | 0.0 | 0.9% | 1.5% | −7.4% | 10.5% | 41% |
| HDFC NIFTY Top 20 Equal Weight Index | 82.3 | 15.6 | 2.0 | 0.0 | 0.0 | 0.0 | 0.0 | −4.1% | −4.7% | −11.5% | 6.3% | 0% |
| Nifty 500 TRI | 38.8 | 43.5 | 17.0 | 0.7 | 0.0 | 0.0 | 0.0 | 0.9% | 0.9% | −9.0% | 10.8% | -- |
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 25-03-2025. Past returns do not promise future returns.
HDFC Focused vs HDFC NIFTY Top 20 Equal Weight Index: 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 03-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC FocusedHDFC Focused Fund (Direct) | ₹2,00,000 | ₹2,00,940 | ₹940 | 0.5% |
| HDFC NIFTY Top 20 Equal Weight IndexHDFC NIFTY Top 20 Equal Weight Index Fund (Direct) | ₹2,00,000 | ₹1,93,798 | −₹6,202 | −3.6% |
HDFC FocusedHDFC Focused Fund (Direct)
HDFC NIFTY Top 20 Equal Weight IndexHDFC NIFTY Top 20 Equal Weight Index 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 Focused vs HDFC NIFTY Top 20 Equal Weight Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Focused Fund (Direct) | HDFC NIFTY Top 20 Equal Weight Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.98% | −9.19% |
| Standard deviation | 13.40% | 14.10% |
| Sharpe ratio | -0.76 | -1.02 |
| Sortino ratio | -1.03 | -1.38 |
| Maximum drawdown | −14.0% (30-03-2026) | −16.1% (30-03-2026) |
| Beta | 0.89 | 1.00 |
| Alpha | +0.93% | −0.35% |
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 Focused Fund (Direct) | HDFC NIFTY Top 20 Equal Weight Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.42% | −0.46% |
| Standard deviation | 16.45% | 13.27% |
| Sharpe ratio | 0.51 | -0.44 |
| Sortino ratio | 0.69 | -0.61 |
| Maximum drawdown | −45.6% (23-03-2020) | −16.1% (30-03-2026) |
| Beta | 0.97 | 1.00 |
| Alpha | +1.77% | −0.39% |
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 Focused Fund (Direct)
HDFC NIFTY Top 20 Equal Weight Index 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 Focused Fund (Direct) | −14.0% | 18-02-2026 | 30-03-2026 | Not yet | -- | −6.2% |
| HDFC NIFTY Top 20 Equal Weight Index Fund (Direct) | −16.1% | 05-12-2025 | 30-03-2026 | Not yet | -- | −10.9% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 25-03-2025, 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 Focused Fund (Direct)
HDFC NIFTY Top 20 Equal Weight Index Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Focused Fund (Direct) | 91% | 79% | 5.42% |
| HDFC NIFTY Top 20 Equal Weight Index Fund (Direct) | 82% | 92% | 6.85% |
From month-end values since 25-03-2025. 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 Focused vs HDFC NIFTY Top 20 Equal Weight Index: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Focused Fund, September 2026; HDFC NIFTY Top 20 Equal Weight Index Fund, September 2026
Holdings in common
- Overlap
- 44.5%
- Held by both
- 10
- Only in HDFC Focused
- 21
- Only in HDFC NIFTY Top 20 Equal Weight Index
- 10
| Security | % of HDFC Focused | % of HDFC NIFTY Top 20 Equal Weight Index |
|---|---|---|
| Kotak Mahindra Bank Limited | 6.91% | 5.28% |
| Axis Bank Ltd. | 6.24% | 5.12% |
| ICICI Bank Ltd. | 9.16% | 5.10% |
| State Bank of India | 5.10% | 4.99% |
| HDFC Bank Ltd. | 7.83% | 4.93% |
| Eternal Limited | 4.87% | 4.89% |
| Sun Pharmaceutical Industries Ltd. | 4.07% | 5.02% |
| HCL Technologies Ltd. | 3.54% | 5.01% |
| Maruti Suzuki India Limited | 3.40% | 5.07% |
| Bharti Airtel Ltd. | 3.20% | 5.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 44.5% means 44.5% 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 Focused Fund
| Security | % of fund |
|---|---|
| InterGlobe Aviation Ltd. | 4.00% |
| Aster DM Quality Care Limited | 3.30% |
| Eicher Motors Ltd. | 3.22% |
| SBI Life Insurance Company Ltd. | 3.02% |
| Bosch Limited | 2.51% |
Largest holdings only in HDFC NIFTY Top 20 Equal Weight Index Fund
| Security | % of fund |
|---|---|
| Infosys Limited | 5.08% |
| NTPC Limited | 5.05% |
| Tata Consultancy Services Ltd. | 5.04% |
| ITC LIMITED | 4.99% |
| Mahindra & Mahindra Ltd. | 4.98% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Focused | HDFC NIFTY Top 20 Equal Weight Index |
|---|---|---|
| Equity | 95.2% | 100.2% |
| Debt | 0.2% | 0.0% |
| Cash and others | 4.6% | -0.2% |
Market cap of stocks
| Market cap | HDFC Focused | HDFC NIFTY Top 20 Equal Weight Index |
|---|---|---|
| Large Cap | 74.2% | 100.2% |
| Mid Cap | 13.5% | 0.0% |
| Small Cap | 7.5% | 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 Focused | HDFC NIFTY Top 20 Equal Weight Index |
|---|---|---|
| Banks | 37.6% | 25.4% |
| IT - Software | 3.5% | 15.1% |
| Automobiles | 8.6% | 10.1% |
| Diversified FMCG | 0.0% | 9.9% |
| Retailing | 7.1% | 4.9% |
| Pharmaceuticals & Biotechnology | 6.5% | 5.0% |
| Power | 2.4% | 5.0% |
| Telecom - Services | 3.2% | 5.0% |
| Healthcare Services | 4.7% | 0.0% |
| Transport Services | 4.0% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Focused vs HDFC NIFTY Top 20 Equal Weight Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Focused Fund | HDFC NIFTY Top 20 Equal Weight Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.83% | 0.37% |
| Base expense ratio (Direct) | 0.63% | 0.22% |
| Total expense ratio (Regular) | 1.71% | 0.84% |
| Base expense ratio (Regular) | 1.37% | 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
HDFC Focused Fund vs HDFC NIFTY Top 20 Equal Weight Index Fund: Frequently Asked Questions
What is the difference between HDFC Focused Fund and HDFC NIFTY Top 20 Equal Weight Index Fund?
HDFC Focused Fund is a Focused fund, HDFC NIFTY Top 20 Equal Weight Index Fund is an Index fund, run by HDFC Mutual Fund. Their portfolios overlap 44.5%. HDFC Focused Fund charges 0.83% a year and HDFC NIFTY Top 20 Equal Weight Index Fund 0.37%.
Which has given higher returns, HDFC Focused Fund or HDFC NIFTY Top 20 Equal Weight Index Fund?
Over 1 year: HDFC Focused Fund −4.98%, HDFC NIFTY Top 20 Equal Weight Index Fund −9.19%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Focused Fund or HDFC NIFTY Top 20 Equal Weight Index Fund?
HDFC NIFTY Top 20 Equal Weight Index Fund charges less: 0.37% a year against 0.83%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Focused Fund and HDFC NIFTY Top 20 Equal Weight Index Fund overlap?
44.5%. They hold 10 of the same securities, the largest shared ones being KOTAKBANK, AXISBANK, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Focused Fund or HDFC NIFTY Top 20 Equal Weight Index Fund?
On SEBI's riskometer, HDFC Focused Fund is rated Very High and HDFC NIFTY Top 20 Equal Weight Index Fund Very High. Over 1 years, the standard deviation of daily returns was 13.40% and 14.10% a year.
Can I invest in both HDFC Focused Fund and HDFC NIFTY Top 20 Equal Weight Index Fund?
Yes. 44.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Focused Fund and HDFC NIFTY Top 20 Equal Weight Index Fund?
HDFC Focused Fund: Amar Kalkundrikar, Gopal Agrawal, Bhagyesh Kagalkar. HDFC NIFTY Top 20 Equal Weight Index Fund: Nandita Menezes, Arun Agarwal.
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.