HDFC Pharma and Healthcare Fund vs Mahindra Manulife Innovation Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Pharma and Healthcare Fund is a Thematic fund and Mahindra Manulife Innovation Opportunities Fund is a Thematic fund. HDFC Pharma and Healthcare Fund charges 1.05% a year and Mahindra Manulife Innovation Opportunities Fund 0.98% (Direct plans). Their portfolios overlap 13.4%: they hold 7 of the same securities.
HDFC Pharma and Healthcare Fund
Thematic
- Expense ratio
- 1.05%
- NAV
- ₹21.95
Mahindra Manulife Innovation Opportunities Fund
Thematic
- Expense ratio
- 0.98%
- NAV
- ₹10.45
Which is better, HDFC Pharma and Healthcare or Mahindra Manulife Innovation Opportunities? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mahindra Manulife Innovation Opportunities costs less: 0.98% a year against 1.05% (Direct plans).
- HDFC Pharma and Healthcare fell less in its worst fall since 02-02-2026: −9.8% against −11.4%.
- HDFC Pharma and Healthcare is the larger fund: ₹3,501 Cr against ₹257 Cr.
- Their portfolios overlap 13.4%: 7 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 Pharma and Healthcare Fund | Mahindra Manulife Innovation Opportunities Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹3,501 Cr (30-09-2026) | ₹257 Cr (30-09-2026) |
| NAV | ₹21.95 (Direct) | ₹10.45 (Direct) |
| Expense ratio (Direct) | 1.05% | 0.98% |
| Expense ratio (Regular) | 2.13% | 2.57% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Healthcare TRI | Nifty 500 TRI |
| Launch date | 04-10-2023 | 30-01-2026 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Nikhil Mathur, Gopal Agrawal, Bhagyesh Kagalkar | Kirti Dalvi, Renjith Sivaram Radhakrishnan |
| 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 (as % of NAV) #: -An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; -Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). # Applicable for normal subscriptions / redemptions including transactions under special products such as SIP, SWP, switches, etc. offered by the AMC. For detailed load structure disclosure, please refer SID. |
HDFC Pharma and Healthcare vs Mahindra Manulife Innovation Opportunities: 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 Pharma and Healthcare Fund (Direct) | +0.04% | +0.83% | +16.68% | +23.12% | +30.53% | -- | -- |
| Mahindra Manulife Innovation Opportunities Fund (Direct) | −1.59% | −5.20% | +2.61% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Pharma and Healthcare vs Mahindra Manulife Innovation Opportunities: Year-wise Returns
| Year | HDFC Pharma and HealthcareHDFC Pharma and Healthcare | Mahindra Manulife Innovation OpportunitiesMahindra Manulife Innovation Opportunities |
|---|---|---|
| 2026to date | +23.99% | -- |
| 2025 | +2.42% | -- |
| 2024 | +52.22% | -- |
HDFC Pharma and Healthcare vs Mahindra Manulife Innovation Opportunities: Rolling Returns
Every holding period of both funds, against BSE Healthcare TRI, the benchmark of HDFC Pharma and Healthcare Fund
HDFC Pharma and Healthcare vs Mahindra Manulife Innovation Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Pharma and Healthcare Fund (Direct) | Mahindra Manulife Innovation Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +29.32% | +5.88% |
| Standard deviation | 13.98% | 16.12% |
| Sharpe ratio | 1.66 | 0.04 |
| Sortino ratio | 2.38 | 0.06 |
| Maximum drawdown | −14.9% (28-02-2025) | −11.4% (23-10-2026) |
| Beta | 0.95 | 0.96 |
| Alpha | +8.51% | +10.05% |
From daily NAVs, 04-10-2023 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.
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 Pharma and Healthcare Fund (Direct)
Mahindra Manulife Innovation Opportunities Fund (Direct)
BSE Healthcare TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Pharma and Healthcare Fund (Direct) | −9.8% | 21-09-2026 | 23-10-2026 | Not yet | -- | −4.1% |
| Mahindra Manulife Innovation Opportunities Fund (Direct) | −11.4% | 27-08-2026 | 23-10-2026 | Not yet | -- | −8.0% |
| BSE Healthcare TRI | −9.9% | 23-09-2026 | 23-10-2026 | Not yet | -- | −3.8% |
From daily values since 02-02-2026, the first day every fund has.
HDFC Pharma and Healthcare vs Mahindra Manulife Innovation Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Pharma and Healthcare Fund, September 2026; Mahindra Manulife Innovation Opportunities Fund, September 2026
Holdings in common
- Overlap
- 13.4%
- Held by both
- 7
- Only in HDFC Pharma and Healthcare
- 31
- Only in Mahindra Manulife Innovation Opportunities
- 47
| Security | % of HDFC Pharma and Healthcare | % of Mahindra Manulife Innovation Opportunities |
|---|---|---|
| Acutaas Chemicals Limited | 3.18% | 2.59% |
| Torrent Pharmaceuticals Ltd. | 3.65% | 2.57% |
| Aster DM Quality Care Limited | 3.56% | 2.29% |
| Divis Laboratories Ltd. | 9.39% | 2.26% |
| Zydus Lifesciences Limited | 1.82% | 1.54% |
| Biocon Ltd. | 1.47% | 1.21% |
| Anthem Biosciences Limited | 3.17% | 0.94% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.4% means 13.4% 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 Pharma and Healthcare Fund
| Security | % of fund |
|---|---|
| Sun Pharmaceutical Industries Ltd. | 8.28% |
| Alkem Laboratories Ltd. | 4.64% |
| Cipla Ltd. | 4.15% |
| Apollo Hospitals Enterprise Ltd. | 3.69% |
| Max Healthcare Institute Limited | 3.61% |
Largest holdings only in Mahindra Manulife Innovation Opportunities Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 3.79% |
| Bajaj Finance Ltd | 2.73% |
| One 97 Communications Limited | 2.64% |
| ICICI Bank Limited | 2.61% |
| Aditya Birla Capital Limited | 2.60% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Pharma and Healthcare | Mahindra Manulife Innovation Opportunities |
|---|---|---|
| Equity | 96.8% | 97.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.2% | 2.5% |
Market cap of stocks
| Market cap | HDFC Pharma and Healthcare | Mahindra Manulife Innovation Opportunities |
|---|---|---|
| Large Cap | 29.2% | 39.1% |
| Mid Cap | 30.1% | 34.1% |
| Small Cap | 32.5% | 24.3% |
| Not on AMFI's list | 5.0% | 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 Pharma and Healthcare | Mahindra Manulife Innovation Opportunities |
|---|---|---|
| Pharmaceuticals & Biotechnology | 71.3% | 13.1% |
| Healthcare Services | 22.1% | 4.5% |
| Banks | 0.0% | 8.3% |
| Finance | 0.0% | 6.7% |
| Transport Services | 0.0% | 5.9% |
| Retailing | 1.0% | 5.0% |
| Auto Components | 0.0% | 4.9% |
| Healthcare Equipment & Supplies | 2.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Pharma and Healthcare vs Mahindra Manulife Innovation Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Pharma and Healthcare Fund | Mahindra Manulife Innovation Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.05% | 0.98% |
| Base expense ratio (Direct) | 0.71% | 0.70% |
| Total expense ratio (Regular) | 2.13% | 2.57% |
| Base expense ratio (Regular) | 1.65% | 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 Pharma and Healthcare with
Compare Mahindra Manulife Innovation Opportunities with
HDFC Pharma and Healthcare Fund vs Mahindra Manulife Innovation Opportunities Fund: Frequently Asked Questions
What is the difference between HDFC Pharma and Healthcare Fund and Mahindra Manulife Innovation Opportunities Fund?
HDFC Pharma and Healthcare Fund is a Thematic fund, Mahindra Manulife Innovation Opportunities Fund is a Thematic fund, run by HDFC Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 13.4%. HDFC Pharma and Healthcare Fund charges 1.05% a year and Mahindra Manulife Innovation Opportunities Fund 0.98%.
Which has the lower expense ratio, HDFC Pharma and Healthcare Fund or Mahindra Manulife Innovation Opportunities Fund?
Mahindra Manulife Innovation Opportunities Fund charges less: 0.98% a year against 1.05%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Pharma and Healthcare Fund and Mahindra Manulife Innovation Opportunities Fund overlap?
13.4%. They hold 7 of the same securities, the largest shared ones being ACUTAAS, TORNTPHARM, ASTERDM. From each fund's latest monthly portfolio.
Which is riskier, HDFC Pharma and Healthcare Fund or Mahindra Manulife Innovation Opportunities Fund?
On SEBI's riskometer, HDFC Pharma and Healthcare Fund is rated Very High and Mahindra Manulife Innovation Opportunities Fund Very High. Over their common history, the standard deviation of daily returns was 13.98% and 16.12% a year.
Can I invest in both HDFC Pharma and Healthcare Fund and Mahindra Manulife Innovation Opportunities Fund?
Yes. 13.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Pharma and Healthcare Fund and Mahindra Manulife Innovation Opportunities Fund?
HDFC Pharma and Healthcare Fund: Nikhil Mathur, Gopal Agrawal, Bhagyesh Kagalkar. Mahindra Manulife Innovation Opportunities Fund: Kirti Dalvi, Renjith Sivaram Radhakrishnan.
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.