HDFC Gilt Fund vs ICICI Prudential Retirement Fund Pure Debt Plan
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Gilt Fund is a Gilt fund and ICICI Prudential Retirement Fund Pure Debt Plan is a Solution fund. In the 3 years to 30-10-2026, HDFC Gilt Fund (Direct) returned 6.1% a year and ICICI Prudential Retirement Fund Pure Debt Plan (Direct) returned 6.3% a year. HDFC Gilt Fund charges 0.46% a year and ICICI Prudential Retirement Fund Pure Debt Plan 1.22% (Direct plans). Their portfolios overlap 24.1%: they hold 3 of the same securities.
ICICI Prudential Retirement Fund Pure Debt Plan
Solution
- 3 year return
- 6.3%
- Expense ratio
- 1.22%
- NAV
- ₹17.09
Which is better, HDFC Gilt or ICICI Prudential Retirement Fund Pure Debt Plan? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Retirement Fund Pure Debt Plan returned more over 5 years: 5.7% a year against 5.3%.
- ICICI Prudential Retirement Fund Pure Debt Plan returned more over 3 years: 6.3% a year against 6.1%.
- HDFC Gilt costs less: 0.46% a year against 1.22% (Direct plans).
- ICICI Prudential Retirement Fund Pure Debt Plan swung less over 3 years: a standard deviation of 1.3% a year against 2.7%.
- ICICI Prudential Retirement Fund Pure Debt Plan fell less in its worst fall since 28-02-2019: −2.7% against −3.0%.
- HDFC Gilt is the larger fund: ₹1,885 Cr against ₹79 Cr.
- Their portfolios overlap 24.1%: 3 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 Gilt Fund | ICICI Prudential Retirement Fund Pure Debt Plan |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Gilt | Solution |
| AUM | ₹1,885 Cr (30-09-2026) | ₹79 Cr (30-09-2026) |
| NAV | ₹59.78 (Direct) | ₹17.09 (Direct) |
| Expense ratio (Direct) | 0.46% | 1.22% |
| Expense ratio (Regular) | 0.82% | 2.14% |
| Riskometer | Moderate | Not available |
| Benchmark | Nifty All Duration G-Sec Index | Nifty Composite Debt Index |
| Launch date | 25-07-2001 | 27-02-2019 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | 5 years, or until retirement if earlier |
| Fund managers | Anil Bamboli, Gopal Agrawal | Darshil Dedhia, Rohit Lakhotia |
| Exit load | NIL | Nil |
HDFC Gilt vs ICICI Prudential Retirement Fund Pure Debt Plan: 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 Gilt Fund (Direct) | −0.57% | −1.32% | +1.63% | +1.97% | +6.10% | +5.27% | +5.77% |
| ICICI Prudential Retirement Fund Pure Debt Plan (Direct) | −0.51% | −0.46% | +1.67% | +3.20% | +6.26% | +5.74% | -- |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 28 Gilt funds, same plan type.
HDFC Gilt vs ICICI Prudential Retirement Fund Pure Debt Plan: Year-wise Returns
| Year | HDFC GiltHDFC Gilt | ICICI Prudential Retirement Fund Pure Debt PlanICICI Prudential Retirement Fund Pure Debt Plan |
|---|---|---|
| 2026to date | +1.42% | +2.34% |
| 2025 | +5.58% | +6.73% |
| 2024 | +9.22% | +8.38% |
| 2023 | +7.57% | +7.06% |
| 2022 | +2.16% | +3.73% |
| 2021 | +2.66% | +4.62% |
HDFC Gilt vs ICICI Prudential Retirement Fund Pure Debt Plan: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,131 of them, one for each trading day from 28-02-2022 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 Gilt Fund (Direct)
ICICI Prudential Retirement Fund Pure Debt Plan (Direct)
to
Jul 2022Apr 2020
to
Apr 2023Feb 2021
to
Feb 2024Nov 2021
to
Nov 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Gilt | 0.0 | 23.3 | 76.7 | 0.0 | 0.0 | 0.0 | 0.0 | 6.0% | 5.9% | 3.7% | 9.0% |
| ICICI Prudential Retirement Fund Pure Debt Plan | 0.0 | 0.8 | 99.2 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.8% | 5.0% | 9.3% |
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 28-02-2019. Past returns do not promise future returns.
HDFC Gilt vs ICICI Prudential Retirement Fund Pure Debt Plan: 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 01-02-2019 to 30-10-2026: 93 instalments, ₹9,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC GiltHDFC Gilt Fund (Direct) | ₹9,30,000 | ₹11,51,021 | ₹2,21,021 | 5.4% |
| ICICI Prudential Retirement Fund Pure Debt PlanICICI Prudential Retirement Fund Pure Debt Plan (Direct) | ₹9,30,000 | ₹11,83,878 | ₹2,53,878 | 6.1% |
HDFC GiltHDFC Gilt Fund (Direct)
ICICI Prudential Retirement Fund Pure Debt PlanICICI Prudential Retirement Fund Pure Debt Plan (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 Gilt vs ICICI Prudential Retirement Fund Pure Debt Plan: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Gilt Fund (Direct) | ICICI Prudential Retirement Fund Pure Debt Plan (Direct) |
|---|---|---|
| Return (CAGR) | +1.97% | +3.20% |
| Standard deviation | 3.15% | 1.75% |
| Sharpe ratio | -1.04 | -1.17 |
| Sortino ratio | -1.41 | -1.54 |
| Maximum drawdown | −2.8% (02-04-2026) | −1.4% (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 Gilt Fund (Direct) | ICICI Prudential Retirement Fund Pure Debt Plan (Direct) |
|---|---|---|
| Return (CAGR) | +6.10% | +6.26% |
| Standard deviation | 2.66% | 1.32% |
| Sharpe ratio | 0.03 | 0.18 |
| Sortino ratio | 0.04 | 0.25 |
| Maximum drawdown | −3.0% (26-08-2025) | −1.4% (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 Gilt Fund (Direct) | ICICI Prudential Retirement Fund Pure Debt Plan (Direct) |
|---|---|---|
| Return (CAGR) | +5.27% | +5.74% |
| Standard deviation | 2.45% | 1.34% |
| Sharpe ratio | -0.22 | -0.05 |
| Sortino ratio | -0.30 | -0.06 |
| Maximum drawdown | −3.0% (26-08-2025) | −1.4% (23-10-2026) |
| 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 Gilt Fund (Direct) | ICICI Prudential Retirement Fund Pure Debt Plan (Direct) |
|---|---|---|
| Return (CAGR) | +7.16% | +7.22% |
| Standard deviation | 3.71% | 1.76% |
| Sharpe ratio | 0.30 | 1.16 |
| Sortino ratio | 0.42 | 1.75 |
| Maximum drawdown | −11.9% (19-08-2013) | −2.7% (26-03-2020) |
| 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 Gilt Fund (Direct)
ICICI Prudential Retirement Fund Pure Debt Plan (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Gilt Fund (Direct) | −3.0% | 28-05-2025 | 26-08-2025 | 24-02-2026 | 6 months | −2.5% |
| ICICI Prudential Retirement Fund Pure Debt Plan (Direct) | −2.7% | 06-03-2020 | 26-03-2020 | 23-04-2020 | 28 days | −1.1% |
From daily values since 28-02-2019, 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 Gilt Fund (Direct)
ICICI Prudential Retirement Fund Pure Debt Plan (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 Gilt Fund (Direct)
ICICI Prudential Retirement Fund Pure Debt Plan (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 Gilt Fund (Direct)
ICICI Prudential Retirement Fund Pure Debt Plan (Direct)
HDFC Gilt vs ICICI Prudential Retirement Fund Pure Debt Plan: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Gilt Fund, September 2026; ICICI Prudential Retirement Fund Pure Debt Plan, September 2026
Holdings in common
- Overlap
- 24.1%
- Held by both
- 3
- Only in HDFC Gilt
- 33
- Only in ICICI Prudential Retirement Fund Pure Debt Plan
- 13
| Security | % of HDFC Gilt | % of ICICI Prudential Retirement Fund Pure Debt Plan |
|---|---|---|
| 7.34% GOI MAT 220464 | 10.61% | 11.97% |
| 6.94% GOI MAT 110536 | 7.83% | 17.33% |
| 6.9% GOI MAT 150465 | 16.42% | 5.64% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 24.1% means 24.1% 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 Gilt Fund
| Security | % of fund |
|---|---|
| 7.18% GOI MAT 140833 | 6.39% |
| 7.3% GOI MAT 190653 | 6.37% |
| 6.97% Karnataka SDL Mat 260228 | 5.77% |
| 7.27% Gujarat SDL ISD 171225 MAT 171234 | 4.12% |
| 7.64% Gujarat SDL ISD 170124 MAT 170133 | 2.61% |
Largest holdings only in ICICI Prudential Retirement Fund Pure Debt Plan
| Security | % of fund |
|---|---|
| Nirma Ltd. | 7.56% |
| Housing and Urban Development Corporation Ltd. | 6.42% |
| LIC Housing Finance Ltd. | 6.39% |
| Muthoot Finance Ltd. | 6.30% |
| Rural Electrification Corporation Ltd. | 5.11% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Gilt | ICICI Prudential Retirement Fund Pure Debt Plan |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 84.2% | 88.0% |
| Cash and others | 15.8% | 12.0% |
HDFC Gilt vs ICICI Prudential Retirement Fund Pure Debt Plan: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Gilt Fund | ICICI Prudential Retirement Fund Pure Debt Plan |
|---|---|---|
| Total expense ratio (Direct) | 0.46% | 1.22% |
| Base expense ratio (Direct) | 0.39% | 1.04% |
| Total expense ratio (Regular) | 0.82% | 2.14% |
| Base expense ratio (Regular) | 0.70% | 1.84% |
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 Gilt Fund vs ICICI Prudential Retirement Fund Pure Debt Plan: Frequently Asked Questions
What is the difference between HDFC Gilt Fund and ICICI Prudential Retirement Fund Pure Debt Plan?
HDFC Gilt Fund is a Gilt fund, ICICI Prudential Retirement Fund Pure Debt Plan is a Solution fund, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 24.1%. HDFC Gilt Fund charges 0.46% a year and ICICI Prudential Retirement Fund Pure Debt Plan 1.22%.
Which has given higher returns, HDFC Gilt Fund or ICICI Prudential Retirement Fund Pure Debt Plan?
Over 1 year: HDFC Gilt Fund +1.97%, ICICI Prudential Retirement Fund Pure Debt Plan +3.20%. Over 3 years: HDFC Gilt Fund +6.10% a year, ICICI Prudential Retirement Fund Pure Debt Plan +6.26% a year. Over 5 years: HDFC Gilt Fund +5.27% a year, ICICI Prudential Retirement Fund Pure Debt Plan +5.74% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Gilt Fund or ICICI Prudential Retirement Fund Pure Debt Plan?
HDFC Gilt Fund charges less: 0.46% a year against 1.22%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Gilt Fund and ICICI Prudential Retirement Fund Pure Debt Plan overlap?
24.1%. They hold 3 of the same securities, the largest shared ones being 7.34% GOI MAT 220464, 6.94% GOI MAT 110536, 6.9% GOI MAT 150465. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC Gilt Fund or ICICI Prudential Retirement Fund Pure Debt Plan?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,97,984 in HDFC Gilt Fund (XIRR 5.3% a year) and ₹7,07,290 in ICICI Prudential Retirement Fund Pure Debt Plan (XIRR 5.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Gilt Fund and ICICI Prudential Retirement Fund Pure Debt Plan?
Yes. 24.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Gilt Fund and ICICI Prudential Retirement Fund Pure Debt Plan?
HDFC Gilt Fund: Anil Bamboli, Gopal Agrawal. ICICI Prudential Retirement Fund Pure Debt Plan: Darshil Dedhia, Rohit Lakhotia.
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.