HDFC Infrastructure Fund vs Nippon India Taiwan Equity Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Infrastructure Fund is a Thematic fund and Nippon India Taiwan Equity Fund is a Thematic fund. In the 3 years to 30-10-2026, HDFC Infrastructure Fund (Direct) returned 12.1% a year and Nippon India Taiwan Equity Fund (Direct) returned 54.8% a year. HDFC Infrastructure Fund charges 1.34% a year and Nippon India Taiwan Equity Fund 1.08% (Direct plans). Their portfolios overlap 0.0%: they hold 0 of the same securities.
HDFC Infrastructure Fund
Thematic
- 3 year return
- 12.1%
- Expense ratio
- 1.34%
- NAV
- ₹48.58
Nippon India Taiwan Equity Fund
Thematic
- 3 year return
- 54.8%
- Expense ratio
- 1.08%
- NAV
- ₹31.86
Which is better, HDFC Infrastructure or Nippon India Taiwan Equity? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Taiwan Equity returned more over 3 years: 54.8% a year against 12.1%.
- Nippon India Taiwan Equity returned more over 1 year: 75.7% against −10.4%.
- Nippon India Taiwan Equity costs less: 1.08% a year against 1.34% (Direct plans).
- HDFC Infrastructure swung less over 3 years: a standard deviation of 16.3% a year against 35.3%.
- HDFC Infrastructure fell less in its worst fall since 14-12-2021: −21.3% against −44.8%.
- Nippon India Taiwan Equity holds 90.8% of the fund in foreign stocks; HDFC Infrastructure 0.0%.
- HDFC Infrastructure holds more in large companies: 49.3% of the fund in large caps against 0.0%.
- HDFC Infrastructure is the larger fund: ₹2,251 Cr against ₹1,147 Cr.
- Their portfolios overlap 0.0%: 0 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 | Nippon India Taiwan Equity Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Nippon India Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹2,251 Cr (30-09-2026) | ₹1,147 Cr (30-09-2026) |
| NAV | ₹48.58 (Direct) | ₹31.86 (Direct) |
| Expense ratio (Direct) | 1.34% | 1.08% |
| Expense ratio (Regular) | 2.21% | 2.36% |
| Riskometer | Very High | Very High |
| Benchmark | BSE India Infrastructure TRI | Taiwan Capitalization Weighted Stock Index (TAIEX) |
| Launch date | 10-03-2008 | 11-12-2021 |
| Minimum investment | ₹100 | 500; Note - Lumpsum subscription under the Scheme is suspended temporarily with effect from February 26, 2024 |
| Lock in | None | None |
| Fund managers | Ashish Shah, Gopal Agrawal, Bhagyesh Kagalkar | Kinjal Desai |
| 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. | 1% if redeemed or switched out on or before completion of 3 months from the date of allotment of units. Nil, thereafter |
HDFC Infrastructure vs Nippon India Taiwan Equity: 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% |
| Nippon India Taiwan Equity Fund (Direct) | −16.05% | +11.27% | −9.87% | +75.71% | +54.78% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Infrastructure vs Nippon India Taiwan Equity: Year-wise Returns
| Year | HDFC InfrastructureHDFC Infrastructure | Nippon India Taiwan EquityNippon India Taiwan Equity |
|---|---|---|
| 2026to date | −7.85% | +66.72% |
| 2025 | +3.18% | +52.84% |
| 2024 | +24.21% | +25.96% |
| 2023 | +56.54% | +46.55% |
| 2022 | +20.17% | −33.29% |
| 2021 | +44.15% | -- |
HDFC Infrastructure vs Nippon India Taiwan Equity: Rolling Returns
Every holding period of both funds, against BSE India Infrastructure Index TRI, the benchmark of HDFC Infrastructure Fund
Rolling returns
Every 3-year holding period, 462 of them, one for each trading day from 16-12-2024 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 Infrastructure Fund (Direct)
Nippon India Taiwan Equity Fund (Direct)
BSE India Infrastructure Index TRI
to
Feb 2025Jun 2022
to
Jun 2025Sept 2022
to
Sept 2025Jan 2023
to
Jan 2026May 2023
to
May 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Infrastructure | 0.0 | 0.0 | 0.0 | 8.0 | 8.0 | 14.3 | 69.7 | 26.6% | 27.7% | 10.5% | 38.7% | 39% |
| Nippon India Taiwan Equity | 0.5 | 2.5 | 13.1 | 9.0 | 1.6 | 3.5 | 69.8 | 36.8% | 38.9% | −3.0% | 69.5% | 63% |
| BSE India Infrastructure Index TRI | 0.0 | 0.0 | 0.0 | 4.5 | 5.6 | 10.4 | 79.4 | 27.6% | 27.9% | 12.9% | 38.1% | -- |
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 BSE India Infrastructure Index 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 14-12-2021. Past returns do not promise future returns.
HDFC Infrastructure vs Nippon India Taiwan Equity: 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 01-12-2021 to 30-10-2026: 59 instalments, ₹5,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC InfrastructureHDFC Infrastructure Fund (Direct) | ₹5,90,000 | ₹8,04,320 | ₹2,14,320 | 12.6% |
| Nippon India Taiwan EquityNippon India Taiwan Equity Fund (Direct) | ₹5,90,000 | ₹17,24,248 | ₹11,34,248 | 45.5% |
HDFC InfrastructureHDFC Infrastructure Fund (Direct)
Nippon India Taiwan EquityNippon India Taiwan Equity 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 Infrastructure vs Nippon India Taiwan Equity: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Infrastructure Fund (Direct) | Nippon India Taiwan Equity Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.41% | +75.71% |
| Standard deviation | 15.10% | 40.75% |
| Sharpe ratio | -1.04 | 1.73 |
| Sortino ratio | -1.36 | 2.48 |
| Maximum drawdown | −14.3% (31-03-2026) | −29.6% (30-07-2026) |
| Beta | 0.81 | -- |
| Alpha | −2.43% | -- |
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 Infrastructure Fund (Direct) | Nippon India Taiwan Equity Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.12% | +54.78% |
| Standard deviation | 16.26% | 35.27% |
| Sharpe ratio | 0.37 | 1.38 |
| Sortino ratio | 0.50 | 2.03 |
| Maximum drawdown | −21.3% (03-03-2025) | −37.6% (09-04-2025) |
| Beta | 0.65 | -- |
| Alpha | +0.47% | -- |
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 Infrastructure Fund (Direct) | Nippon India Taiwan Equity Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.23% | +27.46% |
| Standard deviation | 20.38% | 32.62% |
| Sharpe ratio | 0.25 | 0.66 |
| Sortino ratio | 0.34 | 0.95 |
| Maximum drawdown | −63.1% (23-03-2020) | −44.8% (25-10-2022) |
| Beta | 0.83 | -- |
| Alpha | −0.98% | -- |
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)
Nippon India Taiwan Equity 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) | −21.3% | 27-09-2024 | 03-03-2025 | Not yet | -- | −11.9% |
| Nippon India Taiwan Equity Fund (Direct) | −44.8% | 04-01-2022 | 25-10-2022 | 23-01-2024 | 15 months | −21.7% |
| BSE India Infrastructure Index TRI | −31.7% | 01-08-2024 | 28-02-2025 | Not yet | -- | −25.7% |
From daily values since 14-12-2021, 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 Infrastructure Fund (Direct)
Nippon India Taiwan Equity Fund (Direct)
BSE India Infrastructure Index TRI
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 Infrastructure Fund (Direct)
Nippon India Taiwan Equity Fund (Direct)
BSE India Infrastructure Index TRI
Against BSE India Infrastructure Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Infrastructure Fund (Direct) | 79% | 66% | 11.37% |
| Nippon India Taiwan Equity Fund (Direct) | 58% | -23% | 40.21% |
From month-end values since 14-12-2021. 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 Infrastructure vs Nippon India Taiwan Equity: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Infrastructure Fund, September 2026; Nippon India Taiwan Equity Fund, September 2026
Holdings in common
- Overlap
- 0.0%
- Held by both
- 0
- Only in HDFC Infrastructure
- 72
- Only in Nippon India Taiwan Equity
- 0
Overlap: for each holding both funds own, the smaller of its two weights, added up. 0.0% means 0.0% 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 |
|---|---|
| Larsen and Toubro Ltd. | 7.03% |
| Kalpataru Projects International Ltd | 4.40% |
| InterGlobe Aviation Ltd. | 4.35% |
| ICICI Bank Ltd. | 3.49% |
| Adani Ports & Special Economic Zone | 3.44% |
Largest holdings only in Nippon India Taiwan Equity Fund
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Infrastructure | Nippon India Taiwan Equity |
|---|---|---|
| Equity | 97.3% | 90.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.7% | 9.2% |
Market cap of stocks
| Market cap | HDFC Infrastructure | Nippon India Taiwan Equity |
|---|---|---|
| Large Cap | 49.3% | 0.0% |
| Mid Cap | 9.0% | 0.0% |
| Small Cap | 34.8% | 0.0% |
| Foreign stocks | 0.0% | 90.8% |
| Not on AMFI's list | 4.2% | 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 Infrastructure | Nippon India Taiwan Equity |
|---|---|---|
| Semiconductors | 0.0% | 31.5% |
| Electronic Components | 0.0% | 25.1% |
| Construction | 21.2% | 0.0% |
| Semiconductor Materials & Equipment | 0.0% | 11.8% |
| Power | 11.6% | 0.0% |
| Transport Services | 8.7% | 0.0% |
| Electrical Equipment | 8.3% | 0.0% |
| Electronic Equipment & Instruments | 0.0% | 8.2% |
| Transport Infrastructure | 7.0% | 0.0% |
| Banks | 6.7% | 0.0% |
| Communications Equipment | 0.0% | 5.1% |
| Technology Hardware, Storage & Peripherals | 0.0% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Infrastructure vs Nippon India Taiwan Equity: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Infrastructure Fund | Nippon India Taiwan Equity Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.34% | 1.08% |
| Base expense ratio (Direct) | 0.99% | 0.80% |
| Total expense ratio (Regular) | 2.21% | 2.36% |
| Base expense ratio (Regular) | 1.74% | 1.92% |
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
HDFC Infrastructure Fund vs Nippon India Taiwan Equity Fund: Frequently Asked Questions
What is the difference between HDFC Infrastructure Fund and Nippon India Taiwan Equity Fund?
HDFC Infrastructure Fund is a Thematic fund, Nippon India Taiwan Equity Fund is a Thematic fund, run by HDFC Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 0.0%. HDFC Infrastructure Fund charges 1.34% a year and Nippon India Taiwan Equity Fund 1.08%.
Which has given higher returns, HDFC Infrastructure Fund or Nippon India Taiwan Equity Fund?
Over 1 year: HDFC Infrastructure Fund −10.41%, Nippon India Taiwan Equity Fund +75.71%. Over 3 years: HDFC Infrastructure Fund +12.12% a year, Nippon India Taiwan Equity Fund +54.78% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Infrastructure Fund or Nippon India Taiwan Equity Fund?
Nippon India Taiwan Equity Fund charges less: 1.08% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Infrastructure Fund and Nippon India Taiwan Equity Fund overlap?
0.0%. They hold 0 of the same securities. From each fund's latest monthly portfolio.
Which is riskier, HDFC Infrastructure Fund or Nippon India Taiwan Equity Fund?
On SEBI's riskometer, HDFC Infrastructure Fund is rated Very High and Nippon India Taiwan Equity Fund Very High. Over 3 years, the standard deviation of daily returns was 16.26% and 35.27% a year.
Which is better for SIP, HDFC Infrastructure Fund or Nippon India Taiwan Equity Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,68,525 in HDFC Infrastructure Fund (XIRR -0.3% a year) and ₹8,42,956 in Nippon India Taiwan Equity Fund (XIRR 59.7% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Infrastructure Fund and Nippon India Taiwan Equity Fund?
Yes. 0.0% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages HDFC Infrastructure Fund and Nippon India Taiwan Equity Fund?
HDFC Infrastructure Fund: Ashish Shah, Gopal Agrawal, Bhagyesh Kagalkar. Nippon India Taiwan Equity Fund: Kinjal Desai.
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.