HDFC Infrastructure Fund vs UTI - Infrastructure Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Infrastructure Fund is a Thematic fund and UTI - Infrastructure Fund is a Thematic fund. In the 3 years to 30-10-2026, HDFC Infrastructure Fund (Direct) returned 12.1% a year and UTI - Infrastructure Fund (Direct) returned 11.9% a year. HDFC Infrastructure Fund charges 1.34% a year and UTI - Infrastructure Fund 2.00% (Direct plans). Their portfolios overlap 37.4%: they hold 26 of the same securities.
HDFC Infrastructure Fund
Thematic
- 3 year return
- 12.1%
- Expense ratio
- 1.34%
- NAV
- ₹48.58
UTI - Infrastructure Fund
Thematic
- 3 year return
- 11.9%
- Expense ratio
- 2.00%
- NAV
- ₹143.59
Which is better, HDFC Infrastructure or UTI - Infrastructure? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Infrastructure returned more over 5 years: 17.3% a year against 12.2%.
- HDFC Infrastructure returned more over 3 years: 12.1% a year against 11.9%.
- HDFC Infrastructure costs less: 1.34% a year against 2.00% (Direct plans).
- UTI - Infrastructure swung less over 3 years: a standard deviation of 15.8% a year against 16.3%.
- UTI - Infrastructure fell less in its worst fall since 02-01-2013: −42.8% against −63.1%.
- UTI - Infrastructure holds more in large companies: 67.0% of the fund in large caps against 49.3%.
- HDFC Infrastructure is the larger fund: ₹2,251 Cr against ₹2,033 Cr.
- Their portfolios overlap 37.4%: 26 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 | UTI - Infrastructure Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | UTI Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹2,251 Cr (30-09-2026) | ₹2,033 Cr (30-09-2026) |
| NAV | ₹48.58 (Direct) | ₹143.59 (Direct) |
| Expense ratio (Direct) | 1.34% | 2.00% |
| Expense ratio (Regular) | 2.21% | 2.18% |
| Riskometer | Very High | Very High |
| Benchmark | BSE India Infrastructure TRI | Nifty Infrastructure TRI |
| Launch date | 10-03-2008 | 07-04-2004 |
| Minimum investment | ₹100 | Regular Plan-Growth- Rs.5000, Regular Plan-Reinvestment of IDCW- Rs.5000, Regular Plan-Payout of IDCW- Rs.5000, Direct Plan-Growth- Rs.5000, Direct Plan-Reinvestment of IDCW- Rs.5000, Direct Plan-Payout of IDCW- Rs.5000, |
| Lock in | None | None |
| Fund managers | Ashish Shah, Gopal Agrawal, Bhagyesh Kagalkar | Deepesh Agarwal |
| 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. | 1.00% if redeemed before 30 days from the date of allotment. Nil if redeemed on or after 30 days from the date of allotment |
HDFC Infrastructure vs UTI - 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% |
| UTI - Infrastructure Fund (Direct) | −1.58% | −5.69% | −5.74% | −6.24% | +11.88% | +12.18% | +11.84% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Infrastructure vs UTI - Infrastructure: Year-wise Returns
| Year | HDFCHDFC Infrastructure | UTI -UTI - Infrastructure |
|---|---|---|
| 2026to date | −7.85% | −4.64% |
| 2025 | +3.18% | +4.65% |
| 2024 | +24.21% | +18.93% |
| 2023 | +56.54% | +38.67% |
| 2022 | +20.17% | +9.22% |
| 2021 | +44.15% | +39.76% |
HDFC Infrastructure vs UTI - Infrastructure: 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, 2,666 of them, one for each trading day from 04-01-2016 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)
UTI - Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
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 | 17.9 | 9.7 | 13.4 | 12.6 | 8.1 | 6.3 | 32.0 | 14.8% | 13.2% | −21.7% | 46.6% | 28% |
| UTI - Infrastructure | 8.3 | 3.9 | 17.6 | 20.9 | 20.3 | 13.7 | 15.3 | 14.6% | 14.7% | −10.9% | 34.5% | 41% |
| BSE India Infrastructure Index TRI | 12.0 | 5.6 | 14.0 | 19.5 | 11.3 | 7.1 | 30.6 | 17.0% | 14.5% | −18.3% | 49.6% | -- |
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 02-01-2013. Past returns do not promise future returns.
HDFC Infrastructure vs UTI - Infrastructure: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC InfrastructureHDFC Infrastructure Fund (Direct) | ₹16,60,000 | ₹43,88,698 | ₹27,28,698 | 13.1% |
| UTI - InfrastructureUTI - Infrastructure Fund (Direct) | ₹16,60,000 | ₹43,01,144 | ₹26,41,144 | 12.8% |
HDFC InfrastructureHDFC Infrastructure Fund (Direct)
UTI - InfrastructureUTI - Infrastructure 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 UTI - 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) | UTI - Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.41% | −6.24% |
| Standard deviation | 15.10% | 14.82% |
| Sharpe ratio | -1.04 | -0.77 |
| Sortino ratio | -1.36 | -1.04 |
| Maximum drawdown | −14.3% (31-03-2026) | −12.6% (23-03-2026) |
| Beta | 0.81 | 0.95 |
| Alpha | −2.43% | +0.77% |
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) | UTI - Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.12% | +11.88% |
| Standard deviation | 16.26% | 15.85% |
| Sharpe ratio | 0.37 | 0.37 |
| Sortino ratio | 0.50 | 0.49 |
| Maximum drawdown | −21.3% (03-03-2025) | −21.3% (28-02-2025) |
| Beta | 0.65 | 0.91 |
| Alpha | +0.47% | −1.29% |
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) | UTI - Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.28% | +12.18% |
| Standard deviation | 16.50% | 15.35% |
| Sharpe ratio | 0.70 | 0.42 |
| Sortino ratio | 0.93 | 0.55 |
| Maximum drawdown | −21.3% (03-03-2025) | −21.3% (28-02-2025) |
| Beta | 0.69 | 0.90 |
| Alpha | +3.73% | +0.05% |
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 Infrastructure Fund (Direct) | UTI - Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.23% | +11.82% |
| Standard deviation | 20.38% | 17.94% |
| Sharpe ratio | 0.25 | 0.32 |
| Sortino ratio | 0.34 | 0.43 |
| Maximum drawdown | −63.1% (23-03-2020) | −42.8% (23-03-2020) |
| Beta | 0.83 | 0.85 |
| Alpha | −0.98% | +1.91% |
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)
UTI - 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) | −63.1% | 08-01-2018 | 23-03-2020 | 26-08-2022 | 29 months | −11.9% |
| UTI - Infrastructure Fund (Direct) | −42.8% | 09-01-2018 | 23-03-2020 | 02-02-2021 | 10 months | −10.9% |
| BSE India Infrastructure Index TRI | −55.9% | 08-01-2018 | 23-03-2020 | 04-03-2021 | 11 months | −25.7% |
From daily values since 02-01-2013, 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)
UTI - Infrastructure 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)
UTI - Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
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 Infrastructure Fund (Direct)
UTI - Infrastructure Fund (Direct)
BSE India Infrastructure Index TRI
Against BSE India Infrastructure Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Infrastructure Fund (Direct) | 92% | 93% | 12.35% |
| UTI - Infrastructure Fund (Direct) | 81% | 77% | 11.05% |
From month-end values since 02-01-2013. 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 UTI - Infrastructure: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Infrastructure Fund, September 2026; UTI - Infrastructure Fund, September 2026
Holdings in common
- Overlap
- 37.4%
- Held by both
- 26
- Only in HDFC Infrastructure
- 46
- Only in UTI - Infrastructure
- 39
| Security | % of HDFC Infrastructure | % of UTI - Infrastructure |
|---|---|---|
| Larsen and Toubro Ltd. | 7.03% | 8.82% |
| Adani Ports & Special Economic Zone | 3.44% | 4.88% |
| NTPC Limited | 3.23% | 3.58% |
| InterGlobe Aviation Ltd. | 4.35% | 3.18% |
| ICICI Bank Ltd. | 3.49% | 2.04% |
| J.Kumar Infraprojects Ltd. | 2.88% | 1.67% |
| Reliance Industries Ltd. | 1.58% | 8.60% |
| Hindustan Aeronautics Limited | 1.56% | 2.35% |
| Oil & Natural Gas Corporation Ltd. | 1.30% | 3.42% |
| Power Grid Corporation of India Ltd. | 2.12% | 1.29% |
| Bharti Airtel Ltd. | 1.20% | 13.01% |
| Voltamp Transformers Ltd. | 1.48% | 1.18% |
| Bharat Electronics Ltd. | 1.62% | 1.11% |
| TD Power Systems Ltd. | 2.51% | 1.07% |
| ADANI ENTERPRISES LIMTIED | 1.01% | 1.30% |
| Brigade Enterprises Limited. | 0.95% | 2.02% |
| UltraTech Cement Limited | 0.83% | 4.24% |
| G R Infraprojects Limited | 1.99% | 0.80% |
| Adani Power (Mundra) Limited | 1.88% | 0.52% |
| Prestige Estates Projects Ltd. | 1.48% | 0.52% |
| Cummins India Ltd. | 0.47% | 1.55% |
| Titagarh Wagons Limited | 1.00% | 0.42% |
| ACME Solar Holdings Limited | 0.68% | 0.40% |
| JSW Steel Ltd. | 0.67% | 0.38% |
| GSPL Transmission Limited | 0.12% | 0.23% |
| Container Corporation of India Ltd. | 1.30% | 0.09% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.4% means 37.4% 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 |
|---|---|
| Kalpataru Projects International Ltd | 4.40% |
| Power Finance Corporation Ltd. | 1.87% |
| JSW Infrastructure Limited | 1.82% |
| HDFC Bank Ltd. | 1.73% |
| Centum Electronics Ltd. | 1.65% |
Largest holdings only in UTI - Infrastructure Fund
| Security | % of fund |
|---|---|
| EQ - AXIS BANK LTD. | 2.73% |
| EQ - INDO-MIM LIMITED | 2.25% |
| EQ - SUZLON ENERGY LTD. | 1.79% |
| EQ - PRAJ INDUSRIES LTD. | 1.50% |
| EQ - VEDANTA ALUMINIUM METAL LTD. | 1.31% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Infrastructure | UTI - Infrastructure |
|---|---|---|
| Equity | 97.3% | 97.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.7% | 2.8% |
Market cap of stocks
| Market cap | HDFC Infrastructure | UTI - Infrastructure |
|---|---|---|
| Large Cap | 49.3% | 67.0% |
| Mid Cap | 9.0% | 7.3% |
| Small Cap | 34.8% | 18.1% |
| Not on AMFI's list | 4.2% | 4.8% |
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 | UTI - Infrastructure |
|---|---|---|
| Construction | 21.2% | 12.4% |
| Telecom - Services | 1.2% | 13.8% |
| Power | 11.6% | 5.8% |
| Petroleum Products | 1.6% | 10.2% |
| Transport Services | 8.7% | 4.5% |
| Electrical Equipment | 8.3% | 5.5% |
| Transport Infrastructure | 7.0% | 4.9% |
| Banks | 6.7% | 4.8% |
| Industrial Products | 3.4% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Infrastructure vs UTI - Infrastructure: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Infrastructure Fund | UTI - Infrastructure Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.34% | 2.00% |
| Base expense ratio (Direct) | 0.99% | 1.59% |
| Total expense ratio (Regular) | 2.21% | 2.18% |
| Base expense ratio (Regular) | 1.74% | 1.76% |
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 UTI - Infrastructure Fund: Frequently Asked Questions
What is the difference between HDFC Infrastructure Fund and UTI - Infrastructure Fund?
HDFC Infrastructure Fund is a Thematic fund, UTI - Infrastructure Fund is a Thematic fund, run by HDFC Mutual Fund and UTI Mutual Fund. Their portfolios overlap 37.4%. HDFC Infrastructure Fund charges 1.34% a year and UTI - Infrastructure Fund 2.00%.
Which has given higher returns, HDFC Infrastructure Fund or UTI - Infrastructure Fund?
Over 1 year: HDFC Infrastructure Fund −10.41%, UTI - Infrastructure Fund −6.24%. Over 3 years: HDFC Infrastructure Fund +12.12% a year, UTI - Infrastructure Fund +11.88% a year. Over 5 years: HDFC Infrastructure Fund +17.28% a year, UTI - Infrastructure Fund +12.18% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Infrastructure Fund or UTI - Infrastructure Fund?
HDFC Infrastructure Fund charges less: 1.34% a year against 2.00%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Infrastructure Fund and UTI - Infrastructure Fund overlap?
37.4%. They hold 26 of the same securities, the largest shared ones being LT, ADANIPORTS, NTPC. From each fund's latest monthly portfolio.
Which is riskier, HDFC Infrastructure Fund or UTI - Infrastructure Fund?
On SEBI's riskometer, HDFC Infrastructure Fund is rated Very High and UTI - Infrastructure Fund Very High. Over 3 years, the standard deviation of daily returns was 16.26% and 15.85% a year.
Which is better for SIP, HDFC Infrastructure Fund or UTI - Infrastructure Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,48,467 in HDFC Infrastructure Fund (XIRR 13.0% a year) and ₹7,85,688 in UTI - Infrastructure Fund (XIRR 9.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Infrastructure Fund and UTI - Infrastructure Fund?
Yes. 37.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Infrastructure Fund and UTI - Infrastructure Fund?
HDFC Infrastructure Fund: Ashish Shah, Gopal Agrawal, Bhagyesh Kagalkar. UTI - Infrastructure Fund: Deepesh 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.