HDFC Retirement Fund - Equity Plan vs HDFC Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Retirement Fund - Equity Plan is a Solution fund and HDFC Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, HDFC Retirement Fund - Equity Plan (Direct) returned 9.3% a year and HDFC Value Fund (Direct) returned 15.1% a year. HDFC Retirement Fund - Equity Plan charges 0.92% a year and HDFC Value Fund 1.11% (Direct plans). Their portfolios overlap 46.1%: they hold 30 of the same securities.
HDFC Retirement Fund - Equity Plan
Solution
- 3 year return
- 9.3%
- Expense ratio
- 0.92%
- NAV
- ₹53.62
Which is better, HDFC Retirement Fund - Equity Plan or HDFC Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Value returned more over 5 years: 12.3% a year against 11.2%.
- HDFC Value returned more over 3 years: 15.1% a year against 9.3%.
- HDFC Retirement Fund - Equity Plan costs less: 0.92% a year against 1.11% (Direct plans).
- HDFC Retirement Fund - Equity Plan swung less over 3 years: a standard deviation of 12.2% a year against 13.7%.
- HDFC Retirement Fund - Equity Plan fell less in its worst fall since 26-02-2016: −34.9% against −43.9%.
- HDFC Value is the larger fund: ₹8,039 Cr against ₹6,645 Cr.
- Their portfolios overlap 46.1%: 30 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 Retirement Fund - Equity Plan | HDFC Value Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Solution | Value and Contra |
| AUM | ₹6,645 Cr (30-09-2026) | ₹8,039 Cr (30-09-2026) |
| NAV | ₹53.62 (Direct) | ₹848.85 (Direct) |
| Expense ratio (Direct) | 0.92% | 1.11% |
| Expense ratio (Regular) | 1.87% | 1.88% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 25-02-2016 | 01-02-1994 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | 5 years, or until retirement if earlier | None |
| Fund managers | Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, Gopal Agrawal | Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar |
| Exit load | Fresh investments by investors including SIP / STP registrations, etc effective June 2, 2018: Exit Load (Upon completion of lock-in period): Nil Existing investments by investors including SIP / STP registrations, etc until June 1, 2018: Exit Load (Upon completion of lock-in period of 5 years) In respect of each purchase/switch-in of units offered under the respective Investment Plan(s) • An Exit Load of 1% is payable if Units are redeemed/ switched-out before completion of 60 years of age • No Exit Load is payable if Units are redeemed / switched-out on or after attainment of 60 years of age. | In respect of each purchase / switch-in of units, an Exit Load of 0.25% is payable if Units are redeemed/ switched-out within 1 month from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 1 month from the date of allotment. |
HDFC Retirement Fund - Equity Plan vs HDFC Value: 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 Retirement Fund - Equity Plan (Direct) | +0.66% | −4.79% | −2.05% | −9.12% | +9.31% | +11.19% | +14.67% |
| HDFC Value Fund (Direct) | −1.58% | −4.12% | +1.58% | −1.48% | +15.13% | +12.33% | +13.72% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
Category average: the average of the 30 Value and Contra funds, same plan type.
HDFC Retirement Fund - Equity Plan vs HDFC Value: Year-wise Returns
| Year | Retirement Fund - Equity PlanHDFC Retirement Fund - Equity Plan | ValueHDFC Value | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −9.06% | −1.84% | −7.51% |
| 2025 | +6.24% | +9.51% | +7.76% |
| 2024 | +19.33% | +21.73% | +16.24% |
| 2023 | +34.15% | +30.73% | +26.91% |
| 2022 | +9.95% | +4.58% | +4.25% |
| 2021 | +44.27% | +36.87% | +31.60% |
HDFC Retirement Fund - Equity Plan vs HDFC Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,889 of them, one for each trading day from 26-02-2019 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 Retirement Fund - Equity Plan (Direct)
HDFC Value Fund (Direct)
Nifty 500 TRI
to
Oct 2019Jan 2018
to
Jan 2021May 2019
to
May 2022Sept 2020
to
Sept 2023Dec 2021
to
Dec 2024Mar 2023
to
Mar 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 Retirement Fund - Equity Plan | 2.4 | 6.5 | 8.7 | 14.8 | 21.2 | 27.1 | 19.3 | 18.4% | 19.5% | −4.6% | 40.7% | 79% |
| HDFC Value | 5.3 | 6.6 | 9.8 | 15.1 | 32.7 | 23.4 | 7.1 | 15.6% | 17.5% | −9.9% | 37.1% | 58% |
| Nifty 500 TRI | 2.7 | 6.1 | 8.1 | 26.5 | 38.5 | 14.0 | 4.1 | 15.1% | 15.7% | −6.3% | 33.5% | -- |
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 500 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 26-02-2016. Past returns do not promise future returns.
HDFC Retirement Fund - Equity Plan vs HDFC Value: 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 26-02-2016 to 30-10-2026: 129 instalments, ₹12,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Retirement Fund - Equity PlanHDFC Retirement Fund - Equity Plan (Direct) | ₹12,90,000 | ₹29,76,443 | ₹16,86,443 | 14.8% |
| HDFC ValueHDFC Value Fund (Direct) | ₹12,90,000 | ₹29,12,654 | ₹16,22,654 | 14.4% |
HDFC Retirement Fund - Equity PlanHDFC Retirement Fund - Equity Plan (Direct)
HDFC ValueHDFC Value 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 Retirement Fund - Equity Plan vs HDFC Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Retirement Fund - Equity Plan (Direct) | HDFC Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.12% | −1.48% |
| Standard deviation | 12.70% | 14.15% |
| Sharpe ratio | -1.13 | -0.48 |
| Sortino ratio | -1.49 | -0.65 |
| Maximum drawdown | −14.0% (31-03-2026) | −13.8% (31-03-2026) |
| Beta | 0.86 | 0.97 |
| Alpha | −3.52% | +5.47% |
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 Retirement Fund - Equity Plan (Direct) | HDFC Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.31% | +15.13% |
| Standard deviation | 12.19% | 13.73% |
| Sharpe ratio | 0.27 | 0.66 |
| Sortino ratio | 0.37 | 0.91 |
| Maximum drawdown | −16.1% (03-03-2025) | −18.2% (28-02-2025) |
| Beta | 0.84 | 0.95 |
| Alpha | −0.22% | +5.13% |
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 Retirement Fund - Equity Plan (Direct) | HDFC Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.19% | +12.33% |
| Standard deviation | 12.38% | 13.81% |
| Sharpe ratio | 0.44 | 0.47 |
| Sortino ratio | 0.59 | 0.64 |
| Maximum drawdown | −16.1% (03-03-2025) | −18.4% (20-06-2022) |
| Beta | 0.84 | 0.94 |
| Alpha | +2.87% | +3.68% |
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 Retirement Fund - Equity Plan (Direct) | HDFC Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.04% | +15.36% |
| Standard deviation | 13.80% | 15.62% |
| Sharpe ratio | 0.84 | 0.60 |
| Sortino ratio | 1.13 | 0.80 |
| Maximum drawdown | −34.9% (23-03-2020) | −43.9% (23-03-2020) |
| Beta | 0.84 | 0.96 |
| Alpha | +4.02% | +2.76% |
From daily NAVs, 26-02-2016 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 Retirement Fund - Equity Plan (Direct)
HDFC Value Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Retirement Fund - Equity Plan (Direct) | −34.9% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.0% |
| HDFC Value Fund (Direct) | −43.9% | 23-01-2018 | 23-03-2020 | 01-12-2020 | 8 months | −6.2% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 26-02-2016, 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 Retirement Fund - Equity Plan (Direct)
HDFC Value Fund (Direct)
Nifty 500 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 Retirement Fund - Equity Plan (Direct)
HDFC Value Fund (Direct)
Nifty 500 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 Retirement Fund - Equity Plan (Direct)
HDFC Value Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Retirement Fund - Equity Plan (Direct) | 97% | 79% | 4.38% |
| HDFC Value Fund (Direct) | 104% | 98% | 3.53% |
From month-end values since 26-02-2016. 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 Retirement Fund - Equity Plan vs HDFC Value: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Retirement Fund - Equity Plan, September 2026; HDFC Value Fund, September 2026
Holdings in common
- Overlap
- 46.1%
- Held by both
- 30
- Only in HDFC Retirement Fund - Equity Plan
- 43
- Only in HDFC Value
- 50
| Security | % of HDFC Retirement Fund - Equity Plan | % of HDFC Value |
|---|---|---|
| ICICI Bank Ltd. | 7.36% | 6.17% |
| HDFC Bank Ltd. | 6.93% | 4.56% |
| Axis Bank Ltd. | 4.43% | 3.20% |
| State Bank of India | 2.89% | 3.16% |
| Bharti Airtel Ltd. | 2.64% | 2.84% |
| Larsen and Toubro Ltd. | 2.26% | 2.46% |
| Infosys Limited | 2.24% | 1.98% |
| Reliance Industries Ltd. | 4.64% | 1.85% |
| Maruti Suzuki India Limited | 2.85% | 1.61% |
| Eternal Limited | 1.44% | 1.75% |
| HCL Technologies Ltd. | 1.85% | 1.38% |
| Eicher Motors Ltd. | 1.61% | 1.33% |
| United Spirits Limited | 1.22% | 1.32% |
| NTPC Limited | 1.21% | 2.01% |
| Divis Laboratories Ltd. | 1.12% | 1.62% |
| Bajaj Auto Limited | 0.98% | 1.15% |
| HDFC Life Insurance Company Limited | 1.18% | 0.97% |
| Max Financial Services Ltd. | 1.24% | 0.95% |
| InterGlobe Aviation Ltd. | 1.88% | 0.93% |
| Alkem Laboratories Ltd. | 1.24% | 0.90% |
| Hyundai Motor India Limited | 0.92% | 0.78% |
| Jindal Steel Limited. | 1.20% | 0.74% |
| Chalet Hotels Ltd. | 1.02% | 0.74% |
| Godrej Consumer Products Ltd. | 0.70% | 0.97% |
| Lupin Ltd. | 0.69% | 1.20% |
| Prestige Estates Projects Ltd. | 0.67% | 1.46% |
| Balkrishna Industries Ltd. | 0.80% | 0.65% |
| Hindustan Petroleum Corp. Ltd. | 0.90% | 0.64% |
| Zensar Technologies Ltd. | 0.51% | 0.48% |
| Equitas Small Finance Bank Ltd | 0.41% | 0.87% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 46.1% means 46.1% 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 Retirement Fund - Equity Plan
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Limited | 4.39% |
| Tata Consultancy Services Ltd. | 2.16% |
| Dr. Lal Path Labs Ltd | 2.09% |
| Power Grid Corporation of India Ltd. | 1.76% |
| ICICI Lombard General Insurance Co | 1.68% |
Largest holdings only in HDFC Value Fund
| Security | % of fund |
|---|---|
| Sun Pharmaceutical Industries Ltd. | 2.20% |
| Au Small Finance Bank Ltd. | 2.19% |
| Bharat Electronics Ltd. | 1.93% |
| SBI Life Insurance Company Ltd. | 1.85% |
| Bosch Limited | 1.70% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Retirement Fund - Equity Plan | HDFC Value |
|---|---|---|
| Equity | 93.3% | 98.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.7% | 1.5% |
Market cap of stocks
| Market cap | HDFC Retirement Fund - Equity Plan | HDFC Value |
|---|---|---|
| Large Cap | 62.6% | 56.6% |
| Mid Cap | 9.9% | 22.7% |
| Small Cap | 20.3% | 18.2% |
| Not on AMFI's list | 0.6% | 1.0% |
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 Retirement Fund - Equity Plan | HDFC Value |
|---|---|---|
| Banks | 26.4% | 21.9% |
| Pharmaceuticals & Biotechnology | 4.6% | 6.9% |
| IT - Software | 6.8% | 6.0% |
| Automobiles | 6.4% | 5.0% |
| Transport Services | 5.8% | 0.9% |
| Finance | 2.1% | 5.7% |
| Petroleum Products | 5.5% | 3.2% |
| Insurance | 4.7% | 3.8% |
| Auto Components | 1.4% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Retirement Fund - Equity Plan vs HDFC Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Retirement Fund - Equity Plan | HDFC Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.92% | 1.11% |
| Base expense ratio (Direct) | 0.74% | 0.87% |
| Total expense ratio (Regular) | 1.87% | 1.88% |
| Base expense ratio (Regular) | 1.55% | 1.53% |
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
HDFC Retirement Fund - Equity Plan vs HDFC Value Fund: Frequently Asked Questions
What is the difference between HDFC Retirement Fund - Equity Plan and HDFC Value Fund?
HDFC Retirement Fund - Equity Plan is a Solution fund, HDFC Value Fund is a Value and Contra fund, run by HDFC Mutual Fund. Their portfolios overlap 46.1%. HDFC Retirement Fund - Equity Plan charges 0.92% a year and HDFC Value Fund 1.11%.
Which has given higher returns, HDFC Retirement Fund - Equity Plan or HDFC Value Fund?
Over 1 year: HDFC Retirement Fund - Equity Plan −9.12%, HDFC Value Fund −1.48%. Over 3 years: HDFC Retirement Fund - Equity Plan +9.31% a year, HDFC Value Fund +15.13% a year. Over 5 years: HDFC Retirement Fund - Equity Plan +11.19% a year, HDFC Value Fund +12.33% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Retirement Fund - Equity Plan or HDFC Value Fund?
HDFC Retirement Fund - Equity Plan charges less: 0.92% a year against 1.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Retirement Fund - Equity Plan and HDFC Value Fund overlap?
46.1%. They hold 30 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Retirement Fund - Equity Plan or HDFC Value Fund?
On SEBI's riskometer, HDFC Retirement Fund - Equity Plan is rated Very High and HDFC Value Fund Very High. Over 3 years, the standard deviation of daily returns was 12.19% and 13.73% a year.
Which is better for SIP, HDFC Retirement Fund - Equity Plan or HDFC Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,55,806 in HDFC Retirement Fund - Equity Plan (XIRR 8.4% a year) and ₹8,31,781 in HDFC Value Fund (XIRR 12.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Retirement Fund - Equity Plan and HDFC Value Fund?
Yes. 46.1% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Retirement Fund - Equity Plan and HDFC Value Fund?
HDFC Retirement Fund - Equity Plan: Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, Gopal Agrawal. HDFC Value Fund: Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar.
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.