HDFC Gilt Fund vs UTI 10 year Constant Maturity Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Gilt Fund and UTI 10 year Constant Maturity Gilt Fund are both Gilt funds. In the 3 years to 30-10-2026, HDFC Gilt Fund (Direct) returned 6.1% a year and UTI 10 year Constant Maturity Gilt Fund (Direct) returned 6.5% a year. HDFC Gilt Fund charges 0.46% a year and UTI 10 year Constant Maturity Gilt Fund 0.33% (Direct plans). Their portfolios overlap 13.3%: they hold 4 of the same securities.
UTI 10 year Constant Maturity Gilt Fund
Gilt
- 3 year return
- 6.5%
- Expense ratio
- 0.33%
- NAV
- ₹13.10
Which is better, HDFC Gilt or UTI 10 year Constant Maturity Gilt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI 10 year Constant Maturity Gilt returned more over 3 years: 6.5% a year against 6.1%.
- HDFC Gilt returned more over 1 year: 2.0% against 1.4%.
- UTI 10 year Constant Maturity Gilt costs less: 0.33% a year against 0.46% (Direct plans).
- HDFC Gilt swung less over 3 years: a standard deviation of 2.7% a year against 2.7%.
- HDFC Gilt fell less in its worst fall since 03-08-2022: −3.0% against −3.3%.
- HDFC Gilt is the larger fund: ₹1,885 Cr against ₹105 Cr.
- Their portfolios overlap 13.3%: 4 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 | UTI 10 year Constant Maturity Gilt Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | UTI Mutual Fund |
| Category | Gilt | Gilt |
| AUM | ₹1,885 Cr (30-09-2026) | ₹105 Cr (30-09-2026) |
| NAV | ₹59.78 (Direct) | ₹13.10 (Direct) |
| Expense ratio (Direct) | 0.46% | 0.33% |
| Expense ratio (Regular) | 0.82% | 0.77% |
| Riskometer | Moderate | Not available |
| Benchmark | Nifty All Duration G-Sec Index | CRISIL 10 Year Gilt Index |
| Launch date | 25-07-2001 | 01-08-2022 |
| Minimum investment | ₹100 | Direct Plan-Growth-Rs.5000, Regular Plan-Growth-Rs.5000 "Note - Fresh subscriptions in Income Distribution Cum Capital Withdrawal (IDCW) option through all modes such as Lump Sum mode (including Switches) and fresh registration of Systematic Investment Pl |
| Lock in | None | None |
| Fund managers | Anil Bamboli, Gopal Agrawal | Jaydeep Bhowal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | NIL | Nil |
HDFC Gilt vs UTI 10 year Constant Maturity Gilt: 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% |
| UTI 10 year Constant Maturity Gilt Fund (Direct) | −0.93% | −2.25% | +1.02% | +1.45% | +6.55% | -- | -- |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | -- | -- |
Category average: the average of the 28 Gilt funds, same plan type.
HDFC Gilt vs UTI 10 year Constant Maturity Gilt: Year-wise Returns
| Year | HDFCHDFC Gilt | UTI 10 year Constant MaturityUTI 10 year Constant Maturity Gilt |
|---|---|---|
| 2026to date | +1.42% | +0.62% |
| 2025 | +5.58% | +7.09% |
| 2024 | +9.22% | +9.57% |
| 2023 | +7.57% | +7.81% |
| 2022 | +2.16% | -- |
| 2021 | +2.66% | -- |
HDFC Gilt vs UTI 10 year Constant Maturity Gilt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 299 of them, one for each trading day from 04-08-2025 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)
UTI 10 year Constant Maturity Gilt Fund (Direct)
to
Sept 2025Nov 2022
to
Nov 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jul 2023
to
Jul 2026Sept 2023
to
Sept 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 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.1% | 5.9% | 8.3% |
| UTI 10 year Constant Maturity Gilt | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.8% | 6.2% | 8.9% |
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 03-08-2022. Past returns do not promise future returns.
HDFC Gilt vs UTI 10 year Constant Maturity Gilt: 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 01-08-2022 to 30-10-2026: 51 instalments, ₹5,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC GiltHDFC Gilt Fund (Direct) | ₹5,10,000 | ₹5,68,756 | ₹58,756 | 5.1% |
| UTI 10 year Constant Maturity GiltUTI 10 year Constant Maturity Gilt Fund (Direct) | ₹5,10,000 | ₹5,71,078 | ₹61,078 | 5.3% |
HDFC GiltHDFC Gilt Fund (Direct)
UTI 10 year Constant Maturity GiltUTI 10 year Constant Maturity Gilt 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 Gilt vs UTI 10 year Constant Maturity Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Gilt Fund (Direct) | UTI 10 year Constant Maturity Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.97% | +1.45% |
| Standard deviation | 3.15% | 3.26% |
| Sharpe ratio | -1.04 | -1.16 |
| Sortino ratio | -1.41 | -1.61 |
| Maximum drawdown | −2.8% (02-04-2026) | −3.3% (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) | UTI 10 year Constant Maturity Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.10% | +6.55% |
| Standard deviation | 2.66% | 2.72% |
| Sharpe ratio | 0.03 | 0.19 |
| Sortino ratio | 0.04 | 0.27 |
| Maximum drawdown | −3.0% (26-08-2025) | −3.3% (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) | UTI 10 year Constant Maturity Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.16% | +6.41% |
| Standard deviation | 3.71% | 2.90% |
| Sharpe ratio | 0.30 | 0.09 |
| Sortino ratio | 0.42 | 0.13 |
| Maximum drawdown | −11.9% (19-08-2013) | −3.3% (23-10-2026) |
| 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)
UTI 10 year Constant Maturity Gilt Fund (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% |
| UTI 10 year Constant Maturity Gilt Fund (Direct) | −3.3% | 14-08-2026 | 23-10-2026 | Not yet | -- | −2.9% |
From daily values since 03-08-2022, 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)
UTI 10 year Constant Maturity Gilt 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 Gilt Fund (Direct)
UTI 10 year Constant Maturity Gilt Fund (Direct)
HDFC Gilt vs UTI 10 year Constant Maturity Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Gilt Fund, September 2026; UTI 10 year Constant Maturity Gilt Fund, September 2026
Holdings in common
- Overlap
- 13.3%
- Held by both
- 4
- Only in HDFC Gilt
- 32
- Only in UTI 10 year Constant Maturity Gilt
- 2
| Security | % of HDFC Gilt | % of UTI 10 year Constant Maturity Gilt |
|---|---|---|
| 6.94% GOI MAT 110536 | 7.83% | 56.19% |
| 6.9% GOI MAT 150465 | 16.42% | 2.99% |
| 7.18% GOI MAT 240737 | 1.59% | 8.54% |
| 7.24% GOI MAT 180855 | 1.26% | 0.90% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.3% means 13.3% 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 |
|---|---|
| 7.34% GOI MAT 220464 | 10.61% |
| 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% |
Largest holdings only in UTI 10 year Constant Maturity Gilt Fund
| Security | % of fund |
|---|---|
| 06.48% GSEC Mat- 06/10/2035 | 13.64% |
| 6.79% GOVT BONDS - 07/10/2034 | 4.65% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Gilt | UTI 10 year Constant Maturity Gilt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 84.2% | 86.9% |
| Cash and others | 15.8% | 13.1% |
HDFC Gilt vs UTI 10 year Constant Maturity Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Gilt Fund | UTI 10 year Constant Maturity Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.46% | 0.33% |
| Base expense ratio (Direct) | 0.39% | 0.28% |
| Total expense ratio (Regular) | 0.82% | 0.77% |
| Base expense ratio (Regular) | 0.70% | 0.68% |
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 Gilt with
Compare UTI 10 year Constant Maturity Gilt with
HDFC Gilt Fund vs UTI 10 year Constant Maturity Gilt Fund: Frequently Asked Questions
What is the difference between HDFC Gilt Fund and UTI 10 year Constant Maturity Gilt Fund?
Both are Gilt funds, run by HDFC Mutual Fund and UTI Mutual Fund. Their portfolios overlap 13.3%. HDFC Gilt Fund charges 0.46% a year and UTI 10 year Constant Maturity Gilt Fund 0.33%.
Which has given higher returns, HDFC Gilt Fund or UTI 10 year Constant Maturity Gilt Fund?
Over 1 year: HDFC Gilt Fund +1.97%, UTI 10 year Constant Maturity Gilt Fund +1.45%. Over 3 years: HDFC Gilt Fund +6.10% a year, UTI 10 year Constant Maturity Gilt Fund +6.55% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Gilt Fund or UTI 10 year Constant Maturity Gilt Fund?
UTI 10 year Constant Maturity Gilt Fund charges less: 0.33% a year against 0.46%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Gilt Fund and UTI 10 year Constant Maturity Gilt Fund overlap?
13.3%. They hold 4 of the same securities, the largest shared ones being 6.94% GOI MAT 110536, 6.9% GOI MAT 150465, 7.18% GOI MAT 240737. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC Gilt Fund or UTI 10 year Constant Maturity Gilt Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,94,691 in HDFC Gilt Fund (XIRR 4.1% a year) and ₹3,95,313 in UTI 10 year Constant Maturity Gilt Fund (XIRR 4.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Gilt Fund and UTI 10 year Constant Maturity Gilt Fund?
Yes. 13.3% 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 UTI 10 year Constant Maturity Gilt Fund?
HDFC Gilt Fund: Anil Bamboli, Gopal Agrawal. UTI 10 year Constant Maturity Gilt Fund: Jaydeep Bhowal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.