HDFC Infrastructure Fund vs Mirae Asset Infrastructure Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Infrastructure Fund is a Thematic fund and Mirae Asset Infrastructure Fund is a Thematic fund. HDFC Infrastructure Fund charges 1.34% a year and Mirae Asset Infrastructure Fund 0.82% (Direct plans). Their portfolios overlap 41.4%: they hold 25 of the same securities.
Mirae Asset Infrastructure Fund
Thematic
- Expense ratio
- 0.82%
- NAV
- ₹10.79
Which is better, HDFC Infrastructure or Mirae Asset Infrastructure? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Infrastructure costs less: 0.82% a year against 1.34% (Direct plans).
- Mirae Asset Infrastructure fell less in its worst fall since 08-12-2025: −12.2% against −13.2%.
- HDFC Infrastructure is the larger fund: ₹2,251 Cr against ₹484 Cr.
- Their portfolios overlap 41.4%: 25 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 Infrastructure Fund | Mirae Asset Infrastructure Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Mirae Asset Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹2,251 Cr (30-09-2026) | ₹484 Cr (30-09-2026) |
| NAV | ₹48.58 (Direct) | ₹10.79 (Direct) |
| Expense ratio (Direct) | 1.34% | 0.82% |
| Expense ratio (Regular) | 2.21% | 2.64% |
| Riskometer | Very High | Very High |
| Benchmark | BSE India Infrastructure TRI | BSE India Infrastructure TRI |
| Launch date | 10-03-2008 | 05-12-2025 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Ashish Shah, Gopal Agrawal, Bhagyesh Kagalkar | Bharti Sawant |
| Exit load | In respect of each purchase/switch in of units- an Exit load of 1% is payable if units are redeemed/switched out within 30 days from the date of allotment. No Exit Load is payable if units are redeemed/switched-out after 30 days from the date of allotment. | Exit load of 1% if redeemed within 1 Month. |
HDFC Infrastructure vs Mirae Asset Infrastructure: 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 Infrastructure Fund (Direct) | −4.33% | −6.58% | −7.77% | −10.41% | +12.12% | +17.28% | +10.72% |
| Mirae Asset Infrastructure Fund (Direct) | −3.97% | −3.58% | +0.70% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Infrastructure vs Mirae Asset Infrastructure: Year-wise Returns
| Year | HDFCHDFC Infrastructure | Mirae AssetMirae Asset Infrastructure | BSE India Infrastructure Index TRI |
|---|---|---|---|
| 2026to date | −7.85% | +7.12% | −7.07% |
| 2025 | +3.18% | -- | −2.32% |
| 2024 | +24.21% | -- | +30.02% |
| 2023 | +56.54% | -- | +61.08% |
| 2022 | +20.17% | -- | +15.07% |
| 2021 | +44.15% | -- | +51.72% |
HDFC Infrastructure vs Mirae Asset Infrastructure: Rolling Returns
Every holding period of both funds, against BSE India Infrastructure Index TRI, the benchmark of both
HDFC Infrastructure vs Mirae Asset Infrastructure: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Infrastructure Fund (Direct) | Mirae Asset Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.23% | +10.67% |
| Standard deviation | 20.38% | 18.39% |
| Sharpe ratio | 0.25 | 0.30 |
| Sortino ratio | 0.34 | 0.40 |
| Maximum drawdown | −63.1% (23-03-2020) | −12.2% (30-03-2026) |
| Beta | 0.83 | 0.95 |
| Alpha | −0.98% | +14.32% |
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 Infrastructure Fund (Direct)
Mirae Asset Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Infrastructure Fund (Direct) | −13.2% | 10-02-2026 | 31-03-2026 | 22-06-2026 | 3 months | −10.5% |
| Mirae Asset Infrastructure Fund (Direct) | −12.2% | 18-02-2026 | 30-03-2026 | 17-04-2026 | 18 days | −7.3% |
| BSE India Infrastructure Index TRI | −17.9% | 07-05-2026 | 23-10-2026 | Not yet | -- | −14.7% |
From daily values since 08-12-2025, the first day every fund has.
HDFC Infrastructure vs Mirae Asset Infrastructure: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Infrastructure Fund, September 2026; Mirae Asset Infrastructure Fund, September 2026
Holdings in common
- Overlap
- 41.4%
- Held by both
- 25
- Only in HDFC Infrastructure
- 47
- Only in Mirae Asset Infrastructure
- 22
| Security | % of HDFC Infrastructure | % of Mirae Asset Infrastructure |
|---|---|---|
| Larsen and Toubro Ltd. | 7.03% | 5.60% |
| Adani Ports & Special Economic Zone | 3.44% | 5.64% |
| InterGlobe Aviation Ltd. | 4.35% | 3.31% |
| NTPC Limited | 3.23% | 3.76% |
| TD Power Systems Ltd. | 2.51% | 2.91% |
| Kalpataru Projects International Ltd | 4.40% | 2.24% |
| Power Finance Corporation Ltd. | 1.87% | 2.84% |
| JSW Infrastructure Limited | 1.82% | 1.63% |
| Bharat Electronics Ltd. | 1.62% | 2.50% |
| Hindustan Aeronautics Limited | 1.56% | 1.82% |
| Voltamp Transformers Ltd. | 1.48% | 1.67% |
| Prestige Estates Projects Ltd. | 1.48% | 1.90% |
| Delhivery Limited | 1.37% | 1.82% |
| Reliance Industries Ltd. | 1.58% | 1.33% |
| Container Corporation of India Ltd. | 1.30% | 1.37% |
| Bharti Airtel Ltd. | 1.20% | 2.81% |
| Titagarh Wagons Limited | 1.00% | 1.58% |
| Diamond Power Infrastructure Limited | 0.97% | 2.35% |
| ABB India Ltd. | 0.96% | 1.88% |
| Tata Steel Ltd. | 0.84% | 1.31% |
| UltraTech Cement Limited | 0.83% | 1.35% |
| Ambuja Cements Ltd. | 1.41% | 0.55% |
| JSW Energy Ltd. | 0.53% | 2.87% |
| Cummins India Ltd. | 0.47% | 1.13% |
| GSPL Transmission Limited | 0.12% | 0.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.4% means 41.4% 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 Infrastructure Fund
| Security | % of fund |
|---|---|
| ICICI Bank Ltd. | 3.49% |
| J.Kumar Infraprojects Ltd. | 2.88% |
| Power Grid Corporation of India Ltd. | 2.12% |
| G R Infraprojects Limited | 1.99% |
| Adani Power (Mundra) Limited | 1.88% |
Largest holdings only in Mirae Asset Infrastructure Fund
| Security | % of fund |
|---|---|
| Welspun Corp Ltd. | 3.29% |
| Kusumgar Ltd. | 3.25% |
| Bharat Heavy Electricals Ltd. | 3.18% |
| Lodha Developers Ltd. | 2.96% |
| Shiprocket Ltd. | 2.75% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Infrastructure | Mirae Asset Infrastructure |
|---|---|---|
| Equity | 97.3% | 99.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.7% | 0.9% |
Market cap of stocks
| Market cap | HDFC Infrastructure | Mirae Asset Infrastructure |
|---|---|---|
| Large Cap | 49.3% | 45.4% |
| Mid Cap | 9.0% | 12.8% |
| Small Cap | 34.8% | 23.8% |
| Not on AMFI's list | 4.2% | 17.1% |
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 Infrastructure | Mirae Asset Infrastructure |
|---|---|---|
| Construction | 21.2% | 7.8% |
| Electrical Equipment | 8.3% | 17.3% |
| Transport Services | 8.7% | 11.8% |
| Power | 11.6% | 8.9% |
| Industrial Products | 3.4% | 9.4% |
| Transport Infrastructure | 7.0% | 7.3% |
| Banks | 6.7% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Infrastructure vs Mirae Asset Infrastructure: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Infrastructure Fund | Mirae Asset Infrastructure Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.34% | 0.82% |
| Base expense ratio (Direct) | 0.99% | 0.56% |
| Total expense ratio (Regular) | 2.21% | 2.64% |
| Base expense ratio (Regular) | 1.74% | 2.10% |
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 Infrastructure with
Compare Mirae Asset Infrastructure with
HDFC Infrastructure Fund vs Mirae Asset Infrastructure Fund: Frequently Asked Questions
What is the difference between HDFC Infrastructure Fund and Mirae Asset Infrastructure Fund?
HDFC Infrastructure Fund is a Thematic fund, Mirae Asset Infrastructure Fund is a Thematic fund, run by HDFC Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 41.4%. HDFC Infrastructure Fund charges 1.34% a year and Mirae Asset Infrastructure Fund 0.82%.
Which has the lower expense ratio, HDFC Infrastructure Fund or Mirae Asset Infrastructure Fund?
Mirae Asset Infrastructure Fund charges less: 0.82% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Infrastructure Fund and Mirae Asset Infrastructure Fund overlap?
41.4%. They hold 25 of the same securities, the largest shared ones being LT, ADANIPORTS, INDIGO. From each fund's latest monthly portfolio.
Which is riskier, HDFC Infrastructure Fund or Mirae Asset Infrastructure Fund?
On SEBI's riskometer, HDFC Infrastructure Fund is rated Very High and Mirae Asset Infrastructure Fund Very High. Over their common history, the standard deviation of daily returns was 20.38% and 18.39% a year.
Can I invest in both HDFC Infrastructure Fund and Mirae Asset Infrastructure Fund?
Yes. 41.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Infrastructure Fund and Mirae Asset Infrastructure Fund?
HDFC Infrastructure Fund: Ashish Shah, Gopal Agrawal, Bhagyesh Kagalkar. Mirae Asset Infrastructure Fund: Bharti Sawant.
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.