HDFC Large & Mid Cap Fund vs HSBC Large & Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Large & Mid Cap Fund and HSBC Large & Mid Cap Fund are both Large & Mid Cap funds. In the 3 years to 30-10-2026, HDFC Large & Mid Cap Fund (Direct) returned 12.1% a year and HSBC Large & Mid Cap Fund (Direct) returned 17.1% a year. HDFC Large & Mid Cap Fund charges 0.92% a year and HSBC Large & Mid Cap Fund 1.35% (Direct plans). Their portfolios overlap 21.9%: they hold 46 of the same securities.
HDFC Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 12.1%
- Expense ratio
- 0.92%
- NAV
- ₹344.94
HSBC Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 17.1%
- Expense ratio
- 1.35%
- NAV
- ₹31.51
Which is better, HDFC Large & Mid Cap or HSBC Large & Mid Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Large & Mid Cap returned more over 5 years: 13.4% a year against 12.3%.
- HSBC Large & Mid Cap returned more over 3 years: 17.1% a year against 12.1%.
- HDFC Large & Mid Cap costs less: 0.92% a year against 1.35% (Direct plans).
- HDFC Large & Mid Cap swung less over 3 years: a standard deviation of 14.9% a year against 17.6%.
- HSBC Large & Mid Cap fell less in its worst fall since 04-04-2019: −36.1% against −39.5%.
- HDFC Large & Mid Cap is the larger fund: ₹28,543 Cr against ₹5,784 Cr.
- Their portfolios overlap 21.9%: 46 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 Large & Mid Cap Fund | HSBC Large & Mid Cap Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HSBC Mutual Fund |
| Category | Large & Mid Cap | Large & Mid Cap |
| AUM | ₹28,543 Cr (30-09-2026) | ₹5,784 Cr (30-09-2026) |
| NAV | ₹344.94 (Direct) | ₹31.51 (Direct) |
| Expense ratio (Direct) | 0.92% | 1.35% |
| Expense ratio (Regular) | 1.61% | 2.43% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 18-02-1994 | 28-03-2019 |
| Minimum investment | ₹100 | Rs. 5,000 per application |
| Lock in | None | None |
| Fund managers | Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar | Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | In respect of each purchase/ switch-in of units, an Exit Load of 1.00% is payable if Units are redeemed/switched-out within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed/ switched-out after 1 year from the date of allotment. | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. |
HDFC Large & Mid Cap vs HSBC Large & Mid Cap: 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 Large & Mid Cap Fund (Direct) | −1.74% | −6.65% | −1.59% | −6.99% | +12.06% | +12.31% | +14.05% |
| HSBC Large & Mid Cap Fund (Direct) | −1.12% | −2.10% | +2.86% | +3.59% | +17.14% | +13.41% | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
HDFC Large & Mid Cap vs HSBC Large & Mid Cap: Year-wise Returns
| Year | HDFCHDFC Large & Mid Cap | HSBCHSBC Large & Mid Cap | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | −6.39% | +5.15% | −7.09% |
| 2025 | +6.89% | −2.47% | +8.19% |
| 2024 | +20.42% | +39.99% | +18.68% |
| 2023 | +38.87% | +31.69% | +32.66% |
| 2022 | +9.05% | −2.19% | +4.48% |
| 2021 | +43.96% | +37.39% | +37.04% |
HDFC Large & Mid Cap vs HSBC Large & Mid Cap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,126 of them, one for each trading day from 04-04-2022 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 Large & Mid Cap Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Aug 2022May 2020
to
May 2023Mar 2021
to
Mar 2024Dec 2021
to
Dec 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Large & Mid Cap | 0.0 | 0.0 | 0.0 | 5.3 | 23.5 | 34.7 | 36.4 | 23.1% | 21.9% | 10.8% | 39.1% | 91% |
| HSBC Large & Mid Cap | 0.0 | 0.0 | 0.0 | 6.0 | 30.9 | 50.5 | 12.6 | 20.8% | 20.9% | 12.4% | 31.3% | 52% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 8.3 | 41.1 | 36.8 | 13.9 | 20.6% | 20.1% | 10.1% | 36.1% | -- |
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 NIFTY LargeMidcap 250 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 04-04-2019. Past returns do not promise future returns.
HDFC Large & Mid Cap vs HSBC Large & Mid Cap: 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 01-04-2019 to 30-10-2026: 91 instalments, ₹9,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Large & Mid CapHDFC Large & Mid Cap Fund (Direct) | ₹9,10,000 | ₹16,73,999 | ₹7,63,999 | 15.7% |
| HSBC Large & Mid CapHSBC Large & Mid Cap Fund (Direct) | ₹9,10,000 | ₹17,55,709 | ₹8,45,709 | 16.9% |
HDFC Large & Mid CapHDFC Large & Mid Cap Fund (Direct)
HSBC Large & Mid CapHSBC Large & Mid Cap 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 Large & Mid Cap vs HSBC Large & Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Large & Mid Cap Fund (Direct) | HSBC Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.99% | +3.59% |
| Standard deviation | 15.08% | 15.71% |
| Sharpe ratio | -0.81 | -0.11 |
| Sortino ratio | -1.08 | -0.14 |
| Maximum drawdown | −15.1% (31-03-2026) | −12.2% (23-03-2026) |
| Beta | 1.00 | 0.97 |
| Alpha | −0.47% | +9.71% |
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 Large & Mid Cap Fund (Direct) | HSBC Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.06% | +17.14% |
| Standard deviation | 14.86% | 17.58% |
| Sharpe ratio | 0.41 | 0.63 |
| Sortino ratio | 0.55 | 0.84 |
| Maximum drawdown | −18.7% (28-02-2025) | −25.1% (28-02-2025) |
| Beta | 0.99 | 1.10 |
| Alpha | +0.58% | +5.04% |
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 Large & Mid Cap Fund (Direct) | HSBC Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.31% | +13.41% |
| Standard deviation | 14.84% | 16.63% |
| Sharpe ratio | 0.44 | 0.46 |
| Sortino ratio | 0.59 | 0.61 |
| Maximum drawdown | −18.7% (28-02-2025) | −25.1% (28-02-2025) |
| Beta | 0.99 | 1.06 |
| Alpha | +1.75% | +2.53% |
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 Large & Mid Cap Fund (Direct) | HSBC Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.34% | +16.38% |
| Standard deviation | 16.43% | 18.18% |
| Sharpe ratio | 0.40 | 0.62 |
| Sortino ratio | 0.54 | 0.82 |
| Maximum drawdown | −39.5% (23-03-2020) | −36.1% (23-03-2020) |
| Beta | -- | 1.02 |
| Alpha | -- | +1.70% |
From daily NAVs, 30-06-2014 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 Large & Mid Cap Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Large & Mid Cap Fund (Direct) | −39.5% | 17-01-2020 | 23-03-2020 | 23-11-2020 | 8 months | −8.4% |
| HSBC Large & Mid Cap Fund (Direct) | −36.1% | 20-02-2020 | 23-03-2020 | 11-11-2020 | 8 months | −7.3% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
From daily values since 04-04-2019, 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 Large & Mid Cap Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 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 Large & Mid Cap Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 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 Large & Mid Cap Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Large & Mid Cap Fund (Direct) | 101% | 97% | 3.46% |
| HSBC Large & Mid Cap Fund (Direct) | 103% | 97% | 6.05% |
From month-end values since 04-04-2019. 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 Large & Mid Cap vs HSBC Large & Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Large & Mid Cap Fund, September 2026; HSBC Large & Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 21.9%
- Held by both
- 46
- Only in HDFC Large & Mid Cap
- 194
- Only in HSBC Large & Mid Cap
- 33
| Security | % of HDFC Large & Mid Cap | % of HSBC Large & Mid Cap |
|---|---|---|
| ICICI Bank Ltd. | 3.66% | 6.52% |
| HDFC Bank Ltd. | 3.64% | 5.81% |
| Gland Pharma Ltd. | 1.42% | 1.82% |
| Mahindra & Mahindra Financial Services Ltd. | 1.12% | 1.21% |
| Lupin Ltd. | 1.00% | 2.04% |
| Coforge Limited | 0.85% | 1.46% |
| InterGlobe Aviation Ltd. | 0.85% | 2.00% |
| Bajaj Finance Ltd. | 0.86% | 0.83% |
| Divis Laboratories Ltd. | 0.79% | 1.33% |
| Avalon Technologies Limited | 0.72% | 1.68% |
| Sun Pharmaceutical Industries Ltd. | 0.71% | 1.59% |
| Adani Energy Solutions Limited | 0.69% | 0.99% |
| Fsn Ecommerce Ventures Limited (Nykaa) | 0.60% | 2.44% |
| The Federal Bank Ltd. | 0.57% | 3.34% |
| Aditya Birla Capital ltd. | 0.50% | 1.34% |
| Tech Mahindra Ltd. | 0.43% | 0.65% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.40% | 1.42% |
| Tata Motors Limited | 0.38% | 1.16% |
| Godfrey Phillips India Ltd. | 0.29% | 0.74% |
| PB Fintech Limited | 0.27% | 0.78% |
| AIA Engineering Ltd. | 0.23% | 1.03% |
| Prestige Estates Projects Ltd. | 1.30% | 0.20% |
| JSW Energy Ltd. | 0.17% | 0.56% |
| TVS Motor Company Ltd. | 0.17% | 2.38% |
| Larsen and Toubro Ltd. | 0.96% | 0.16% |
| Titagarh Wagons Limited | 0.16% | 0.85% |
| Nippon Life India Asset Management Limited | 0.15% | 1.56% |
| Zydus Lifesciences Limited | 0.14% | 0.70% |
| One 97 Communications Limited | 0.13% | 1.77% |
| Indian Bank | 0.55% | 0.10% |
| GE Vernova T&D India Limited | 0.10% | 2.54% |
| CG Power and Industrial Solutions Ltd. | 0.06% | 2.31% |
| Tata Consumer Products Limited | 0.41% | 0.05% |
| Bombay Stock Exchange Limited (BSE) | 0.30% | 0.05% |
| Bharat Electronics Ltd. | 0.68% | 0.04% |
| UltraTech Cement Limited | 0.28% | 0.04% |
| Sai Life Sciences Limited | 0.23% | 0.04% |
| Billionbrains Garage Ventures Limited (Groww) | 0.04% | 0.32% |
| Mahindra & Mahindra Ltd. | 0.37% | 0.03% |
| Infosys Limited | 1.04% | 0.02% |
| ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED | 0.02% | 0.17% |
| Bharti Airtel Ltd. | 1.79% | 0.01% |
| Reliance Industries Ltd. | 1.42% | 0.01% |
| Eternal Limited | 1.16% | 0.01% |
| Bharat Heavy Electricals Ltd. | 0.18% | 0.01% |
| Titan Company Ltd. | 0.03% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.9% means 21.9% 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 Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Axis Bank Ltd. | 1.95% |
| State Bank of India | 1.42% |
| Fortis Healthcare Limited | 1.28% |
| Aurobindo Pharma Ltd. | 1.27% |
| Max Financial Services Ltd. | 1.25% |
Largest holdings only in HSBC Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Limited | 4.96% |
| Meesho Limited | 3.79% |
| Aditya Infotech Limited | 3.37% |
| Ather Energy Limited | 2.72% |
| Dhoot Transmission Limited | 2.60% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Large & Mid Cap | HSBC Large & Mid Cap |
|---|---|---|
| Equity | 99.0% | 97.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 2.1% |
Market cap of stocks
| Market cap | HDFC Large & Mid Cap | HSBC Large & Mid Cap |
|---|---|---|
| Large Cap | 43.5% | 35.4% |
| Mid Cap | 38.7% | 40.4% |
| Small Cap | 16.8% | 16.8% |
| Not on AMFI's list | 0.0% | 5.3% |
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 Large & Mid Cap | HSBC Large & Mid Cap |
|---|---|---|
| Banks | 17.0% | 17.5% |
| Electrical Equipment | 1.8% | 13.0% |
| Pharmaceuticals & Biotechnology | 11.9% | 8.6% |
| Retailing | 3.6% | 11.2% |
| Finance | 7.9% | 7.2% |
| IT - Software | 6.3% | 2.1% |
| Automobiles | 3.7% | 5.1% |
| Auto Components | 4.5% | 2.6% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Large & Mid Cap vs HSBC Large & Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Large & Mid Cap Fund | HSBC Large & Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.92% | 1.35% |
| Base expense ratio (Direct) | 0.77% | 0.66% |
| Total expense ratio (Regular) | 1.61% | 2.43% |
| Base expense ratio (Regular) | 1.36% | 1.58% |
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 Large & Mid Cap with
HDFC Large & Mid Cap Fund vs HSBC Large & Mid Cap Fund: Frequently Asked Questions
What is the difference between HDFC Large & Mid Cap Fund and HSBC Large & Mid Cap Fund?
Both are Large & Mid Cap funds, run by HDFC Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 21.9%. HDFC Large & Mid Cap Fund charges 0.92% a year and HSBC Large & Mid Cap Fund 1.35%.
Which has given higher returns, HDFC Large & Mid Cap Fund or HSBC Large & Mid Cap Fund?
Over 1 year: HDFC Large & Mid Cap Fund −6.99%, HSBC Large & Mid Cap Fund +3.59%. Over 3 years: HDFC Large & Mid Cap Fund +12.06% a year, HSBC Large & Mid Cap Fund +17.14% a year. Over 5 years: HDFC Large & Mid Cap Fund +12.31% a year, HSBC Large & Mid Cap Fund +13.41% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Large & Mid Cap Fund or HSBC Large & Mid Cap Fund?
HDFC Large & Mid Cap Fund charges less: 0.92% a year against 1.35%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Large & Mid Cap Fund and HSBC Large & Mid Cap Fund overlap?
21.9%. They hold 46 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, GLAND. From each fund's latest monthly portfolio.
Which is riskier, HDFC Large & Mid Cap Fund or HSBC Large & Mid Cap Fund?
On SEBI's riskometer, HDFC Large & Mid Cap Fund is rated Very High and HSBC Large & Mid Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.86% and 17.58% a year.
Which is better for SIP, HDFC Large & Mid Cap Fund or HSBC Large & Mid Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,96,813 in HDFC Large & Mid Cap Fund (XIRR 10.5% a year) and ₹8,76,104 in HSBC Large & Mid Cap Fund (XIRR 14.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Large & Mid Cap Fund and HSBC Large & Mid Cap Fund?
Yes. 21.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Large & Mid Cap Fund and HSBC Large & Mid Cap Fund?
HDFC Large & Mid Cap Fund: Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar. HSBC Large & Mid Cap Fund: Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh.
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.