HDFC Nifty India Consumption Index Fund vs Nippon India Consumption Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Nifty India Consumption Index Fund is an Index fund and Nippon India Consumption Fund is a Thematic fund. HDFC Nifty India Consumption Index Fund charges 0.44% a year and Nippon India Consumption Fund 0.91% (Direct plans). Their portfolios overlap 54.7%: they hold 19 of the same securities.
HDFC Nifty India Consumption Index Fund
Index
- Expense ratio
- 0.44%
- NAV
- ₹9.34
Which is better, HDFC Nifty India Consumption Index or Nippon India Consumption? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Nifty India Consumption Index costs less: 0.44% a year against 0.91% (Direct plans).
- Nippon India Consumption fell less in its worst fall since 18-02-2026: −13.1% against −13.3%.
- HDFC Nifty India Consumption Index holds more in large companies: 88.0% of the fund in large caps against 69.1%.
- Nippon India Consumption is the larger fund: ₹2,255 Cr against ₹105 Cr.
- Their portfolios overlap 54.7%: 19 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 Nifty India Consumption Index Fund | Nippon India Consumption Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Nippon India Mutual Fund |
| Category | Index | Thematic |
| AUM | ₹105 Cr (30-09-2026) | ₹2,255 Cr (30-09-2026) |
| NAV | ₹9.34 (Direct) | ₹204.46 (Direct) |
| Expense ratio (Direct) | 0.44% | 0.91% |
| Expense ratio (Regular) | 0.88% | 2.20% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Consumption TRI | Nifty India Consumption TRI |
| Launch date | 18-02-2026 | 30-09-2004 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nandita Menezes, Arun Agarwal | Kinjal Desai |
| Exit load | NIL | Exit load of 1% if redeemed within 1 month. |
HDFC Nifty India Consumption Index vs Nippon India Consumption: 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 Nifty India Consumption Index Fund (Direct) | +0.10% | −8.12% | −2.37% | -- | -- | -- | -- |
| Nippon India Consumption Fund (Direct) | −1.62% | −8.78% | −2.35% | −11.34% | +8.47% | +10.81% | +12.40% |
| 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 Nifty India Consumption Index vs Nippon India Consumption: Year-wise Returns
| Year | HDFC Nifty India Consumption IndexHDFC Nifty India Consumption Index | Nippon India ConsumptionNippon India Consumption | Nifty India Consumption TRI |
|---|---|---|---|
| 2026to date | -- | −9.20% | −9.10% |
| 2025 | -- | +4.47% | +9.22% |
| 2024 | -- | +20.27% | +19.77% |
| 2023 | -- | +28.29% | +27.96% |
| 2022 | -- | +15.71% | +8.53% |
| 2021 | -- | +33.19% | +20.82% |
HDFC Nifty India Consumption Index vs Nippon India Consumption: Rolling Returns
Every holding period of both funds, against Nifty India Consumption TRI, the benchmark of both
HDFC Nifty India Consumption Index vs Nippon India Consumption: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Nifty India Consumption Index Fund (Direct) | Nippon India Consumption Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.25% | +12.59% |
| Standard deviation | 16.56% | 15.56% |
| Sharpe ratio | -0.88 | 0.42 |
| Sortino ratio | -1.15 | 0.58 |
| Maximum drawdown | −13.3% (31-03-2026) | −31.0% (23-03-2020) |
| Beta | 1.00 | 0.85 |
| Alpha | −0.31% | +0.59% |
From daily NAVs, 18-02-2026 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 Nifty India Consumption Index Fund (Direct)
Nippon India Consumption Fund (Direct)
Nifty India Consumption TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Nifty India Consumption Index Fund (Direct) | −13.3% | 18-02-2026 | 31-03-2026 | 27-07-2026 | 4 months | −9.5% |
| Nippon India Consumption Fund (Direct) | −13.1% | 18-02-2026 | 31-03-2026 | 01-07-2026 | 3 months | −10.4% |
| Nifty India Consumption TRI | −13.2% | 18-02-2026 | 30-03-2026 | 27-07-2026 | 4 months | −9.5% |
From daily values since 18-02-2026, the first day every fund has.
HDFC Nifty India Consumption Index vs Nippon India Consumption: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Nifty India Consumption Index Fund, September 2026; Nippon India Consumption Fund, September 2026
Holdings in common
- Overlap
- 54.7%
- Held by both
- 19
- Only in HDFC Nifty India Consumption Index
- 10
- Only in Nippon India Consumption
- 26
| Security | % of HDFC Nifty India Consumption Index | % of Nippon India Consumption |
|---|---|---|
| Mahindra & Mahindra Ltd. | 8.18% | 9.28% |
| Eternal Limited | 7.20% | 8.04% |
| Hindustan Unilever Ltd. | 5.18% | 6.52% |
| Bajaj Auto Limited | 3.68% | 4.34% |
| Asian Paints Limited | 3.37% | 3.43% |
| InterGlobe Aviation Ltd. | 3.50% | 3.24% |
| TVS Motor Company Ltd. | 3.02% | 3.64% |
| Trent Ltd. | 2.71% | 3.60% |
| ITC LIMITED | 7.86% | 1.99% |
| Tata Consumer Products Limited | 1.92% | 2.73% |
| Avenue Supermarts Ltd. | 1.92% | 1.87% |
| Maruti Suzuki India Limited | 4.83% | 1.85% |
| Varun Beverages Ltd | 1.83% | 3.50% |
| Bharti Airtel Ltd. | 10.12% | 1.79% |
| Titan Company Ltd. | 5.89% | 1.77% |
| Britannia Industries Ltd. | 1.77% | 3.33% |
| United Spirits Limited | 1.25% | 2.47% |
| Godrej Consumer Products Ltd. | 1.06% | 2.64% |
| Eicher Motors Ltd. | 3.06% | 1.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 54.7% means 54.7% 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 Nifty India Consumption Index Fund
| Security | % of fund |
|---|---|
| Nestle India Ltd. | 2.92% |
| Apollo Hospitals Enterprise Ltd. | 2.61% |
| Torrent Pharmaceuticals Ltd. | 2.16% |
| Max Healthcare Institute Limited | 2.15% |
| Hero MotoCorp Ltd. | 2.12% |
Largest holdings only in Nippon India Consumption Fund
| Security | % of fund |
|---|---|
| FSN E-Commerce Ventures Limited | 2.91% |
| Bluestone Jewellery and Lifestyle Limited | 2.84% |
| Zydus Wellness Limited | 2.48% |
| United Breweries Limited | 2.15% |
| LG Electronics India Ltd | 2.13% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Nifty India Consumption Index | Nippon India Consumption |
|---|---|---|
| Equity | 98.7% | 99.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.3% | 0.5% |
Market cap of stocks
| Market cap | HDFC Nifty India Consumption Index | Nippon India Consumption |
|---|---|---|
| Large Cap | 88.0% | 69.1% |
| Mid Cap | 10.7% | 16.6% |
| Small Cap | 0.0% | 13.8% |
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 Nifty India Consumption Index | Nippon India Consumption |
|---|---|---|
| Automobiles | 24.9% | 20.2% |
| Retailing | 13.3% | 17.6% |
| Diversified FMCG | 13.0% | 8.5% |
| Consumer Durables | 11.0% | 12.3% |
| Telecom - Services | 10.1% | 1.8% |
| Beverages | 3.1% | 8.4% |
| Food Products | 4.7% | 6.3% |
| Healthcare Services | 4.8% | 1.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Nifty India Consumption Index vs Nippon India Consumption: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Nifty India Consumption Index Fund | Nippon India Consumption Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.44% | 0.91% |
| Base expense ratio (Direct) | 0.30% | 0.62% |
| Total expense ratio (Regular) | 0.88% | 2.20% |
| Base expense ratio (Regular) | 0.69% | 1.74% |
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 Nippon India Consumption with
HDFC Nifty India Consumption Index Fund vs Nippon India Consumption Fund: Frequently Asked Questions
What is the difference between HDFC Nifty India Consumption Index Fund and Nippon India Consumption Fund?
HDFC Nifty India Consumption Index Fund is an Index fund, Nippon India Consumption Fund is a Thematic fund, run by HDFC Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 54.7%. HDFC Nifty India Consumption Index Fund charges 0.44% a year and Nippon India Consumption Fund 0.91%.
Which has the lower expense ratio, HDFC Nifty India Consumption Index Fund or Nippon India Consumption Fund?
HDFC Nifty India Consumption Index Fund charges less: 0.44% a year against 0.91%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Nifty India Consumption Index Fund and Nippon India Consumption Fund overlap?
54.7%. They hold 19 of the same securities, the largest shared ones being M&M, ETERNAL, HINDUNILVR. From each fund's latest monthly portfolio.
Which is riskier, HDFC Nifty India Consumption Index Fund or Nippon India Consumption Fund?
On SEBI's riskometer, HDFC Nifty India Consumption Index Fund is rated Very High and Nippon India Consumption Fund Very High. Over their common history, the standard deviation of daily returns was 16.56% and 15.56% a year.
Can I invest in both HDFC Nifty India Consumption Index Fund and Nippon India Consumption Fund?
Yes. 54.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Nifty India Consumption Index Fund and Nippon India Consumption Fund?
HDFC Nifty India Consumption Index Fund: Nandita Menezes, Arun Agarwal. Nippon India Consumption 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.